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Highlights
- Promising drilling results at Ularring Copper-Gold Project
- Expanding hydrogen exploration across 87,000+ sq km
- Strengthened financials with upcoming entitlement offer
Constellation Resources (ASX:CR1) has released its March quarterly update, showcasing a blend of strong exploration activity and strategic positioning across copper-gold and natural hydrogen assets in Western Australia.
At the heart of the update is progress at the Ularring Copper-Gold Project, where exploration has intensified around the Centre Forest Prospect. This prospect lies in a geologically significant area, flanked by known intrusion-related deposits such as the Boddington and Caravel copper-gold systems.
A recent dipole-dipole induced polarisation (DDIP) survey at Centre Forest has highlighted a 1.1 km by 0.3 km chargeable anomaly at 300 metres depth, with peak readings exceeding 20 millivolts per volt (mV/V)—a signal that is stronger than those observed in previous drill-tested areas. This anomaly remains untested by drilling, offering potential for higher sulphide concentrations and, potentially, richer mineralisation.
Previous drilling has already returned encouraging intersections, including:
- 19m @ 2.02 g/t gold and 0.16% copper (hole CFR004)
- 37m @ 0.73 g/t gold and 0.26% copper (hole CFC001)
- 30m @ 0.94 g/t gold and 0.10% copper from surface (hole UAC001)
These results align with petrology and assay data pointing to a strong sulphide and multi-element signature, supporting the interpretation of an intrusion-related copper-gold system. A two-hole diamond drilling campaign is underway, targeting the core of the chargeable zone at Centre Forest.
Beyond copper and gold, Constellation (CR1) is significantly expanding its footprint in the emerging natural hydrogen sector. The company now holds exploration rights over 87,602 square kilometres through nine Special Prospecting Authorities with Acreage Options across the Edmund-Collier, Yerrida, and Ashburton Basins.
These regions are strategically positioned near existing gas infrastructure, presenting clear pathways for future hydrogen development. A soil gas sampling program is scheduled to begin in the June quarter, supported by research collaboration with CSIRO. Core samples from historical diamond drilling have been submitted for further analysis, including porosity and source-rock potential.
With global hydrogen demand expected to multiply fivefold by 2050, and momentum shifting toward cleaner production methods, Constellation (CR1) aims to position itself at the forefront of natural hydrogen exploration in Australia. The company sees its extensive and early-mover land position as a key strategic advantage.
Financially, the company is debt-free and holds approximately A$800,000 in cash. An upcoming non-renounceable entitlement offer is expected to raise up to A$2.36 million before costs, providing additional capital to support ongoing exploration initiatives.
