Daly Resources Uncovers Extensive High-Grade Fluorite Vein at Northern Territory’s Huckitta Project

Significant Expansion of Huckitta’s Fluorite System Beyond Historical Zones

Daly Resources' latest update highlights a major advancement in the Huckitta Project’s fluorite system following the resumption of field activities in late June and mid-July 2026. The discovery of an untested fluorite-bearing vein in the western target zone marks a pivotal development in assessing the project’s mineral potential. Geological mapping has traced this vein for over 700 metres in strike length, with initial rock-chip assays revealing outstanding fluorite grades up to 91.2% CaF2. This discovery notably extends mineralisation far beyond the historical exploration focus on the eastern side of the licence.

Historically, exploration at Huckitta concentrated on the eastern sector of EL33271, where multiple fluorite veins exceeding 400 metres in strike length were identified within an 8-kilometre vein corridor. Previous rock-chip samples from this area yielded grades up to 95.1% CaF2, with a historic drill hole (PH1) intersecting 6.1 metres at 35.1% CaF2. The newly uncovered western vein, located more than 5 kilometres from these known occurrences, confirms that fluorite mineralisation extends well beyond prior targets, reshaping the understanding of the project’s mineral system and exploration potential across the licence.

Continuous High-Grade Fluorite Mineralisation Spanning 700 Metres

The newly identified Huckitta fluorite vein exhibits continuous high-grade mineralisation over an impressive 700-metre strike length. Rock-chip samples consistently returned grades above 20% CaF2 throughout this stretch, representing the longest continuous fluorite vein mapped at the project to date. Individual assays reached as high as 91.2% CaF2, underscoring the exceptional purity of the mineralisation. This extensive strike length and uniform grade distribution suggest a substantial mineral system rather than isolated pockets, offering investors a clearer insight into Huckitta’s commercial exploration potential.

This continuous mineralisation is particularly significant in early-stage fluorite exploration, as extended high-grade strike lengths often indicate a robust mineral system with multiple avenues for resource expansion. Maintaining grades above 20% CaF2 along the entire 700-metre section points to a mineralising process affecting a broad structural footprint. This consistency bolsters the geological case for Huckitta as a district-scale fluorite system and provides a strong foundation for Daly Resources’ planned drilling and resource definition initiatives.

Utilising Airborne Geophysical Surveys to Enhance Exploration Targeting

Daly Resources recently completed airborne magnetic and radiometric surveys at Huckitta, which will be integral to the next exploration phase. The company plans to combine rock-chip and soil geochemistry results with these geophysical datasets to refine geological models and prioritise drill targets. This integrated methodology aligns with best practices by merging surface geochemistry with subsurface geophysical data, enhancing confidence in drill target selection and increasing the likelihood of intersecting significant mineralisation at depth.

The timing of these surveys alongside renewed fieldwork enables rapid advancement in understanding Huckitta’s fluorite system. Magnetic and radiometric data may uncover additional structural features, vein extensions, or new mineralisation signatures correlating with the high-grade surface samples. By correlating the western vein with geophysical anomalies, the company can identify similar signatures elsewhere, potentially leading to further fluorite discoveries and expanding exploration scope beyond currently known zones.

Geological Mapping Reveals Additional Vein Networks Across Huckitta

Beyond the high-grade western vein, ongoing geological mapping has uncovered multiple additional vein structures within the broader project area. These findings extend beyond known fluorite occurrences and support enlarging the priority target zone at Huckitta. The presence of numerous veins indicates the mineralising process has affected a wide region, potentially forming a network of fluorite-bearing zones rather than isolated deposits. This vein distribution is promising for a junior explorer, suggesting multiple drilling targets with potential for further high-grade fluorite discoveries.

Systematic geological mapping combined with historical data and new geophysical insights has enhanced exploration effectiveness. Field teams’ detailed mapping of the western target area surpasses previous efforts, shifting the project narrative from a localized mineralisation event to a district-scale fluorite system featuring multiple mineralisation points and ongoing discovery potential across the licence.

Huckitta Project’s Dual Potential for Fluorite and Copper Deposits

Covering approximately 3,812 square kilometres, the Huckitta Project is Daly Resources’ flagship asset in the Northern Territory. It offers prospects for both fluorite and sediment-hosted copper mineralisation, providing diversified commodity exposure within a single licence. The fluorite mineralisation aligns with the Huckitta-Sandover fluorite corridor, a district-scale mineralised feature. Additionally, the project hosts copper targets linked to prospective Georgina Basin stratigraphy, presenting exploration upside beyond fluorite.

This dual-commodity focus offers investors diversified exploration potential. While recent results spotlight fluorite, Huckitta’s position within the Georgina Basin also offers opportunities for sediment-hosted copper discoveries. This strategy mitigates single-commodity risk and aligns exploration with regional geology and known mineral systems. Daly Resources’ ability to pursue both fluorite and copper targets across a vast licence area reflects a sophisticated regional geological understanding and balanced value creation approach.

Daly Resources’ Extensive Northern Territory Exploration Portfolio

In addition to Huckitta, Daly Resources manages a significant portfolio across the Northern Territory’s key mineral provinces. The company holds three project areas—Huckitta, Broughton, and Batten—covering over 6,500 square kilometres of granted tenure. The Broughton Project, spanning about 1,581 square kilometres in the McArthur Basin, targets sediment-hosted copper-zinc deposits within an underexplored region featuring prospective stratigraphy and base metal anomalies. The Batten Project, covering roughly 1,124 square kilometres, is prospective for SEDEX-style zinc-copper mineralisation and is situated near major deposits like McArthur River (HYC) and Teena zinc, positioning Daly Resources alongside world-class mineral systems.

This diversified portfolio offers district-scale discovery potential across multiple commodities and deposit types. Strategic project locations near established mining districts and within prospective geological provinces reflect a disciplined exploration investment approach. Maintaining a multi-project, multi-commodity portfolio reduces reliance on any single prospect, lowering risk typical of junior explorers. The regional scale also provides flexibility for value creation via partnerships, joint ventures, or strategic collaborations.

Ongoing Field Activities and Upcoming Assay Results

Daly Resources has outlined continued exploration plans at Huckitta, including geological mapping, rock-chip sampling, and trial soil sampling as fieldwork progresses. This systematic surface exploration aims to evaluate the scale, orientation, and continuity of fluorite-bearing veins. Additional rock-chip and soil geochemistry assay results are expected in the coming weeks, offering a steady stream of updates on project advancement to investors.

The trial soil sampling is particularly important, as it may identify geochemical anomalies indicative of further mineralisation zones beyond visible outcrops. Soil geochemistry extends exploration coverage and aids early targeting for follow-up sampling or drilling. Combining rock-chip and soil data builds a comprehensive understanding of surface fluorite expression, forming a robust platform for strategic drilling decisions. Integrating these results with airborne geophysical data will enable a focused, high-confidence drilling program in the next project phase.

Executive Insights on Exploration Progress and Strategic Outlook

Executive Chairman Mike Edwards highlighted the significance of the recent discovery, noting that the 700-metre fluorite vein with assays up to 91.2% CaF2 underscores the high-grade nature of Huckitta’s mineralisation and the project’s substantial exploration potential. Edwards emphasized that the vein’s location outside the initial target area greatly expands the project’s scale, reinforcing confidence in the company’s strategic direction. Management views this discovery as validation of their exploration model and evidence of a much larger fluorite system than previously recognised.

Edwards also indicated plans to integrate recent assay results with airborne geophysical data to refine targets and guide upcoming drilling activities. This data-driven approach aims to develop a defensible drilling program supported by multiple evidence lines. The expanded project scale and potential district-wide fluorite system provide a clear narrative for value creation and ongoing shareholder support during the next exploration funding phase.

Share Price Reaction and Investor Considerations

Immediate share price impact following the announcement remains unclear from public sources. Investors are likely monitoring market responses and evaluating the implications of the expanded fluorite system for Daly Resources’ development trajectory. The discovery of a 700-metre continuous fluorite vein with grades up to 91.2% CaF2 marks a significant advancement in project knowledge and confirms the quality of Huckitta’s mineralisation. The extension of the fluorite system by over 5 kilometres from historical zones suggests strong exploration upside and multiple drilling targets.

As with all junior explorers, investors should recognize that converting exploration potential into defined mineral resources requires substantial additional work, funding, and favourable market conditions. While Huckitta’s early-stage results are encouraging, further drilling, resource estimation, and feasibility studies are necessary before commercialisation prospects become clear. Investors should follow Daly Resources’ progress on planned drilling, upcoming geochemistry assay releases, and guidance on the next drilling phase. The integration of geophysical and surface geochemistry data will be a key indicator of project maturation.