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Constellation Resources Limited has secured Special Prospecting Authorities for the Edmund-Collier Basin in Western Australia's Gascoyne Province, establishing itself as a pioneer in this 500-kilometre frontier basin targeting natural gas, hydrogen, and helium. Concurrently, the company is advancing copper-gold exploration at its Ularring Project following promising initial drilling results, while aiming to raise approximately $3.22 million through a pro-rata entitlement offer to support ongoing operations.
Key Points
- Constellation Resources Limited (ASX:CR1) focuses on exploration projects in Western Australia, targeting natural gas, hydrogen, helium, and copper-gold deposits.
- The company received Special Prospecting Authorities SPA 048 AO and SPA 049 AO for the Edmund-Collier Basin, a 500-kilometre frontier basin sharing geological similarities with the emerging Beetaloo Basin.
- The Edmund-Collier Project spans 43,781 square kilometres and includes historical subsurface gas evidence such as a 1977 pressurised gas outburst and recent methane and helium readings reaching 97% methane and 0.24% helium.
- At the Ularring Copper-Gold Project, initial drilling revealed anomalous shallow regolith-hosted copper-gold intercepts, including 7 metres at 0.25% copper and 0.04 g/t gold, with additional drilling planned for the upcoming field season.
- Constellation is conducting a non-renounceable pro-rata entitlement offer to raise about $3.22 million at $0.12 per share, closing on 6 August 2026.
First-Mover Advantage in Edmund-Collier Basin Energy Exploration
By obtaining Special Prospecting Authorities SPA 048 AO and SPA 049 AO, Constellation Resources has positioned itself as the first explorer in the Edmund-Collier Basin, covering 43,781 square kilometres within Western Australia’s Gascoyne Province. The project’s proximity to major gas transmission pipelines enhances the potential for future commercialisation of discoveries by reducing development timelines and capital expenditure.
The basin features a 4 to 5 kilometre thick folded Proterozoic sedimentary sequence with organic-rich shales extending over hundreds of kilometres, alongside carbonates, dolerite sills, deep fault systems, and radiogenic basement rocks. Constellation is evaluating the basin as a geological analogue to the Beetaloo Basin, which is nearing commercial gas production. The basin’s geological components support a viable natural gas system, validating the company’s exploration thesis. The granted authorities allow Constellation to conduct soil-gas surveys and technical assessments, with ongoing exploration updates expected throughout the coming months.
Historical and Recent Gas Indicators Bolster Edmund-Collier Potential
Historical data strengthens Edmund-Collier’s exploration appeal. SPA 48 AO includes the 1977 AMOCO Minerals percussion hole JRP-TP-03, which recorded a pressurised gas outburst and surface ignition while drilling an antiformal trap. This rare event indicates active subsurface gas generation and migration pathways, confirming the basin’s hydrocarbon potential.
More recent evidence comes from drillhole WHRD021 (2012), within Special Prospecting Authorities application STP-SPA-0143, which recorded gas concentrations up to 97% methane and 0.24% helium (air corrected) at the collar. Ongoing gas venting observed during multiple field visits suggests a connection to a deeper reservoir, indicating a continuous hydrocarbon source rather than isolated accumulations—an important factor for exploration potential.
Expert Technical Team and Play-Type Evaluation for Edmund-Collier
Constellation has engaged specialists Dr Mark Partington from Atherium and Iain Copp to lead a technical program aimed at play-type classification within the Edmund-Collier Basin. This structured approach will rank exploration concepts across the extensive acreage, guiding prioritisation of follow-up activities and new acreage applications.
The company plans to complete soil-gas surveys and technical studies by the end of 2026, with results expected to inform play rankings, new applications, and advanced exploration such as seismic surveys and drilling. Environmental planning and native title consultations are underway, with the Environmental Plan for STP-SPA-0116 near completion and native title discussions progressing for STP-SPA-0143.
Ularring Copper-Gold Project Shows Early Drilling Success
Constellation’s Ularring Copper-Gold Project, covering 24 kilometres of strike along the Meenar Shear corridor in Western Australia, is the company’s second exploration focus. The project is under-explored and situated 35 kilometres north of Caravel Minerals’ Copper Project, which holds an Ore Reserve of 583.4 million tonnes at 0.24% copper, containing 1.4 million tonnes of copper, indicating strong regional prospectivity.
A maiden 12-hole reverse circulation drilling campaign at the Chatham Prospect returned anomalous shallow copper-gold mineralisation, including 7 metres at 0.25% copper and 0.04 g/t gold from surface in drillhole CHR001, and 15 metres at 0.22% copper and 0.08 g/t gold from surface in CHR004. The mineralisation remains open along strike and at depth below the oxidised regolith, validating the Meenar Shear’s regional potential. Chatham lies 12 kilometres from the Centre Forest Prospect, where historic drilling also revealed promising copper-gold intersections.
Potential for Intrusion-Related Copper-Gold Systems at Ularring
Analysis of historical drilling, geophysical data, and regional geology suggests Ularring may host a highly prospective intrusion-related copper-gold system capable of large-scale deposits. This style is exemplified by the nearby Boddington Mine, which has produced 11 million ounces of gold and 1 million tonnes of copper. Caravel Minerals’ Copper Project in the region contains 3 million tonnes of copper, 61,000 tonnes of molybdenum, 895,000 ounces of gold, and 46 million ounces of silver in resources.
Recent nearby exploration successes, such as Chalice Mining Limited’s high-grade rare earth oxide discovery at the Deep Blue Prospect 22 kilometres south of Chatham, further highlight the area’s mineral potential and support continued exploration at Ularring.
Upcoming Exploration Plans at Chatham and Ularring
Building on early drilling results, Constellation plans further surface geochemistry, geophysics, and drilling in the next field season. This includes aircore and reverse circulation drilling, induced polarisation surveys, and infill geochemistry to target fresh rock mineralisation beneath the oxidised regolith. Historical soil geochemical anomalies for copper, gold, bismuth, molybdenum, and tungsten along strike provide multiple targets for follow-up drilling.
The structured exploration program aims to refine targets using geophysical data to guide drilling, with results anticipated throughout the 2026-2027 period, generating ongoing news flow.
Capital Raising to Fund Exploration and Operations
During the quarter, Constellation announced a non-renounceable pro-rata entitlement offer to raise approximately $3.22 million before costs by issuing new shares at $0.12 each on a one-for-three basis to eligible shareholders. The offer closes at 5:00 pm AWST on Thursday, 6 August 2026. This approach maintains existing shareholder ownership proportions for participants.
Raised funds will support soil-gas surveys and technical studies at Edmund-Collier, targeting completion by year-end 2026, as well as follow-up drilling, geophysics, and geochemistry at Ularring during the upcoming field season. The company’s quarterly reports and capital raise announcements reflect active exploration with funded programs requiring ongoing capital deployment.
Diversified Exploration Strategy and Regional Context
Constellation’s portfolio spans two distinct commodity and geological settings in Western Australia, reflecting a diversified approach. Edmund-Collier targets frontier natural gas and helium plays in the Gascoyne Province, while Ularring focuses on copper-gold mineralisation in the Eastern Goldfields. This dual-commodity strategy exposes the company to varied commodity markets and exploration timelines, with energy projects typically requiring larger-scale investment and longer development horizons, while base and precious metals projects may advance more quickly depending on deposit size.
The company employs a staged exploration expansion strategy, progressing environmental approvals, native title consultations, and initial surveys at Edmund-Collier, while advancing drilling and targeting refinement at Ularring. This methodical approach manages exploration risk and capital allocation across multiple projects.
Investment Risks and Considerations
Investors should note that Constellation Resources is at the exploration stage, where discoveries are uncertain and projects may not reach economic development. Despite historical gas indicators and infrastructure proximity, Edmund-Collier remains a frontier play with limited direct drilling. Geological analogies to the Beetaloo Basin are encouraging but do not guarantee success. Exploration risks include technical, permitting, environmental, and native title challenges that could delay or halt progress.
At Ularring, while initial drilling results are promising, only a small portion of the 24-kilometre Meenar Shear has been tested, and fresh rock mineralisation below the oxidised regolith remains unassessed. Regional proximity to significant copper resources and recent discoveries supports potential but does not assure economic mineralisation. Commodity price volatility for natural gas, copper, gold, and helium also impacts investment sentiment and funding. Shareholders should understand that exploration capital may not yield returns, with project advancement dependent on exploration outcomes, regulatory approvals, and market conditions beyond the company’s control.
