MetalsGrove Mining Uncovers 18km Gold Corridor at Zuénoula Permit, Launches 10,000m Auger Drilling Program

Refined Exploration at Zuénoula Through Systematic Soil Sampling and Regolith Mapping

During the June 2026 quarter, MetalsGrove Mining enhanced its exploration approach at the Zuénoula Permit with staged infill soil sampling integrated with regolith mapping and high-resolution LiDAR-orthophoto surveys. The company completed most planned soil geochemistry across the permit, significantly improving understanding of geological and geochemical controls on gold mineralisation. This approach enabled delineation of approximately 18 kilometres of combined northeast-trending gold anomalous corridors from multiple coherent soil anomaly clusters, marking a major advancement in target definition.

Following detailed technical review, MetalsGrove focused exploration into three prospects: Fifty-Five, Central, and South East, each containing one or more gold soil anomaly clusters exceeding 30 ppb Au, indicative of potential bedrock-hosted gold mineralisation. Integration of 200m by 50m infill soil data with regolith interpretation and LiDAR results refined six priority drill targets for follow-up testing, demonstrating a systematic pipeline advancement before committing to costlier drilling.

Drill Target T1 Elevated to Highest Priority After 3.3km Gold Corridor Expansion

The quarter’s standout achievement was at the Fifty-Five Prospect, where Drill Target T1 was expanded and upgraded to MetalsGrove’s highest-priority target. Additional infill soil sampling extended T1 to a 3.3-kilometre northeast-trending gold anomalous corridor, with a new peak soil assay of 1,324 ppb Au (1.324 g/t Au), well above the anomaly threshold. The anomaly remains open northeastwards, indicating potential for further extension.

This target upgrade reflects MetalsGrove’s evolving ranking process based on accumulating geochemical and geological data. The combination of corridor length, peak assay, and open-ended anomaly underpins T1’s top-priority status. Managing Director and CEO Lijun Yang highlighted this as evidence of "significant bedrock-hosted mineralisation potential," positioning Drill Target T1 and the Fifty-Five Prospect as the immediate drilling focus.

10,000-Metre Auger Drilling Program Underway to Test Six Priority Targets

Immediately after the June quarter, MetalsGrove launched a two-stage 10,000-metre auger drilling program targeting six refined drill areas across Fifty-Five, Central, and South East Prospects at Zuénoula. This cost-effective method samples the upper saprolite beneath transported cover, providing geological and geochemical data to refine targets for deeper aircore, reverse circulation, or diamond drilling planned later in 2026.

Results from this auger program will guide the design and prioritisation of subsequent deeper drilling campaigns. This staged exploration aligns with industry best practices, progressively refining targets through increasingly detailed and costly methods, with deeper drilling anticipated later this year depending on auger outcomes.

Vavoua Permit Exploration Identifies 35 km² Dubaso Prospect with Promising Initial Results

At the Vavoua Permit (PR-454), held under the GEMICA joint venture, MetalsGrove completed initial wide-spaced soil and termite mound sampling during the June quarter to evaluate geochemical techniques under varying regolith conditions and build a pipeline of priority targets. These surveys generated valuable baseline data on the permit’s geochemical and geological potential.

Initial soil sampling defined the 35 km² Dubaso Prospect, featuring a coherent cluster of low-order gold anomalies with a peak assay of 90 ppb Au. Geological mapping and regional aeromagnetic data indicated the prospect lies within a 4.5 km-wide northeast-trending belt of sheared intermediate volcanic rocks with multiple quartz-vein zones, consistent with the orogenic gold mineralisation style targeted across the Central West Gold Project.

Termite Mound Sampling Preferred for Southwestern Permit Areas

Orientation studies at Vavoua identified termite mound sampling as the preferred first-pass technique in the southwestern permit area, where conventional soil sampling is less effective due to regolith or access challenges. This method revealed two additional gold-anomalous targets along a major regional shear zone, suggesting structural control over gold mineralisation consistent with West African greenstone belt models.

Follow-up work planned includes infill and step-out soil sampling at 400m by 100m and 800m by 100m grids, ongoing geological mapping, rock-chip sampling, and reconnaissance auger drilling to refine and prioritise drill targets. This progressive data-driven strategy aims to develop high-quality targets before core drilling.

Central West Gold Project Situated in a Productive Gold Belt in Côte d'Ivoire

MetalsGrove’s Central West Gold Project encompasses multiple exploration permits in Côte d'Ivoire, a jurisdiction with established gold production and exploration success. The Zuénoula Permit (PR-750) operates under the Stellar joint venture, while the Vavoua Permit (PR-454) is under GEMICA. The company is also engaging with the Ministry of Mines on permit applications for Kounahiri West and Vavoua West, expanding its regional footprint.

The project’s geological setting features greenstone-hosted mineralisation typical of West African orogenic gold systems, including northeast-trending structural corridors, volcanic and metasedimentary sequences, and quartz-vein hosted gold. Côte d'Ivoire is a significant gold producer with active international and junior explorers. MetalsGrove’s systematic approach aims to generate high-quality drill targets to support larger-scale exploration, with Managing Director Lijun Yang noting the June quarter achievements as "another important step towards generating high-quality drill targets and advancing both projects towards AC, RC or diamond drilling later this year."

Corporate Updates and Financial Position as of 30 June 2026

During the June quarter, MetalsGrove announced governance changes with the resignation of director Haidong Chi and appointment of Haobo (Andy) Yuan as Non-Executive Director, enhancing board expertise to support strategic goals. The company held $1.98 million in cash at 30 June 2026, a key factor for funding ongoing exploration including the 10,000-metre auger drilling, follow-up sampling, mapping, and future deeper drilling campaigns.

Management Highlights Exploration Progress and Drilling Outlook

CEO Lijun Yang emphasized the significant progress at Zuénoula and Vavoua during the quarter. At Zuénoula, "systematic soil sampling, regolith mapping, and LiDAR surveys refined exploration into three prospects and six drill targets along approximately 18 km of northeast-trending gold anomalous corridors." He highlighted the Fifty-Five Prospect’s Drill Target T1 expansion to a 3.3 km corridor with a 1,324 ppb Au peak soil result as evidence of "significant bedrock-hosted mineralisation potential."

At Vavoua, initial exploration delineated a 35 km² soil anomaly at Dubaso and confirmed a favourable northeast-trending volcanic belt with encouraging gold potential. Mr Yang stated these achievements represent "another important step towards generating high-quality drill targets and advancing both projects towards AC, RC or diamond drilling later this year," signaling confidence in progressing to deeper drilling by mid-to-late 2026.

Investor Focus and Exploration Strategy Insights

Investors should monitor the completion and results of the 10,000-metre auger drilling at Zuénoula, which will be pivotal for advancing to deeper drilling. Positive results would support management’s drilling plans, while less encouraging outcomes could prompt target reassessment. At Vavoua, progress in infill and step-out soil sampling, mapping, and reconnaissance auger drilling will indicate exploration momentum and target confidence.

MetalsGrove’s disciplined, staged exploration strategy integrates soil geochemistry, regolith mapping, LiDAR, geological mapping, aeromagnetic data, and termite mound sampling to build target confidence before costly drilling. The large-scale anomalies at Zuénoula (18 km corridors) and Dubaso (35 km²) reflect permit-scale programs rather than isolated prospects. Upcoming announcements on drilling results, resource delineation, or permit applications for Kounahiri West and Vavoua West will be material for shareholders.