Forgent (AIM:FORG) has expanded its ongoing Phase II drilling programme at its 99%-owned Peak Hill Gold-Copper Project in Western Australia.
The AIM-listed, Australia-focused critical and precious minerals explorer has returned its rig to the Curley's prospect to follow up a standout Phase I intersection of 2 metres at 3.68 grammes per tonne gold.
The expansion adds 14 holes and approximately 840 metres, taking the overall Phase II programme to approximately 144 holes for approximately 9,540 metres, up from the roughly 130 holes for 8,700 metres originally planned.
The decision follows a site visit by chief executive James Parsons and a review of drilling completed to date, including the recent finish of an initial 26 holes for 1,365 metres at the previously undrilled Cathedral prospect.
The additional Curley's holes are targeted 20-metre step-outs designed to test for a larger mineralised envelope roughly the existing gold result.
"The objective is very clear: to chase that strong gold result and determine whether we can define a larger mineralised envelope around it", Parsons said.
Samples are being submitted progressively for assay, with results expected in batches roughly four weeks after submission, giving the technical team scope to adapt the remaining programme while the rig stays active.
The enlarged Phase II programme is expected to conclude by the end of November, allowing for a scheduled break for the drilling team and the contractor's other rig commitments.
News Intelligence what this means for the company
Forgent has expanded its Phase 2 drilling at Peak Hill's Curley's prospect by 14 holes (840 metres), lifting the total programme from 130 to 144 holes, after a standout Phase 1 intersection of 2 metres at 3.68 g/t gold prompted management to chase a larger mineralised envelope. The expansion is modest relative to the overall campaign—the 14 additional holes represent a 10.8% increase—and the company remains on track to conclude by end-November, with assay results arriving in batches to allow real-time programme adaptation.
The decision to expand drilling reflects confidence in the Phase 1 result but does not materially alter the exploration risk profile; Forgent remains in early-stage definition of a single gold intersection at a 99%-owned asset. The company's cash position and burn rate (€2.07m loss in H1 2026, funded by recent £1.30m placing) will determine how long the exploration programme can sustain momentum.
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