Forgent (AIM:FORG) (AIM: FORG), the energy transition company, said maiden drilling at its Peak Hill Gold-Copper Project in Western Australia has confirmed gold across multiple targets and identified a new, undrilled exploration corridor.
The Phase 1 programme comprised 40 aircore holes for 2,680 metres, completed in July, with assays now returned for all 1,587 samples.
Best intercepts included 2 metres at 3.68g/t gold from 50 metres at PKA040 and 1 metre at 3.11g/t gold from 44 metres at PKA010.
The results validated the company's geological reinterpretation of a project acquired with an extensive but previously unretargeted historical database, and confirmed shallow gold mineralisation along several structural corridors at the Karalundi, Junction and Curley's prospects.
Beyond the known targets, interpretation of the drilling has flagged a new corridor between Junction and Curley's, showing favourable structural complexity and magnetic anomalies despite little historical drilling, and with the potential to connect the two mineralised areas.
"Even more exciting is that between Junction and Curley's we've identified a large undrilled corridor displaying all the geological characteristics we associate with a fertile gold system, yet it has seen no historical drilling," chief executive James Parsons said.
Phase 2 drilling, due to start in August, will test that corridor alongside extending mineralisation at Junction and Curley's and infill drilling, with the aim of progressing toward an initial mineral resource estimate.
Peak Hill sits within an established Western Australian gold district, with multiple processing plants within trucking distance.
News Intelligence what this means for the company
Forgent's Phase 1 drilling at Peak Hill has delivered on its geological model, confirming shallow gold across three known prospects (Karalundi, Junction, Curley's) with intercepts up to 3.68 g/t gold, and more importantly, has identified an undrilled structural corridor between Junction and Curley's showing the same geological signatures as the mineralised areas—a discovery that expands the project's footprint without requiring new ground. The accelerated Phase 2 campaign launching in August will test this new corridor and work toward an initial mineral resource estimate, validating Forgent's reinterpretation of the project's historical database and de-risking the path to resource definition.
Phase 1 success removes the primary exploration risk at Peak Hill—whether the geological model would hold—and the discovery of an undrilled corridor with fertile characteristics materially extends the project's exploration upside. The move toward a resource estimate in Phase 2 marks a transition from early-stage grassroots to resource-stage development, a step-change in value inflection if drilling continues to support the model.
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