First Development Resources (AIM:FDR), the Australian-focused exploration company, has confirmed primary gold mineralisation in bedrock at its Lander West target within the Selta Project in the Northern Territory.
The eight-hole, 1,593 metre reverse circulation drilling programme found gold anomalism in six of the eight holes, with the strongest result from hole 26LWR08 returning 7 metres at 0.40 g/t gold from 50 metres downhole, including 2 metres at 0.98 g/t. A separate hole, 26LWR02, intersected 8 metres at 0.32% copper from 47 metres downhole, including 5 metres at 0.39% copper.
The company cross-checked its results against historical drilling from Normandy NFM between 1995 and 1998, validating a 1997 hole at the Red Handed target that returned 16 metres at 0.30 g/t gold from 12 metres, including 2 metres at 1.93 g/t.
That hole sits 834 metres from 26LWR08, and the two do not demonstrate continuity, but together they support the case for a genuine gold-bearing system.
"We are exploring a genuine gold-bearing system," said Tristan Pottas, chief executive, adding that the integrated dataset now points to "where we should be looking next."
Combining the new drilling with surface geochemistry, geophysics and the reconstructed historical dataset, First Development has identified five priority target areas: Red Handed, Red Hackle, Auraria, L1 and Giles.
Red Handed ranks as the immediate priority.
Field crews are expected to return to Lander West in October to refine targets ahead of further aircore and RC drilling.
News Intelligence what this means for the company
First Development Resources has completed an eight-hole reverse-circulation drilling programme at Lander West that intersected gold mineralisation in six holes, with the best result returning 7 metres at 0.40 g/t gold including 2 metres at 0.98 g/t. The company validated its findings against historical drilling from 1995–1998, identifying five priority targets for follow-up work beginning in October. This marks the first results from the Phase I drilling campaign at the site, confirming primary gold mineralisation but at grades and intervals typical of early-stage exploration rather than economic ore.
The confirmation of a gold-bearing system at Lander West de-risks the exploration thesis and justifies the October drilling phase, but individual hole grades (0.40–0.98 g/t) and limited hole spacing (834 metres between the strongest new result and historical validation) remain consistent with early-stage prospect maturation. The company now has a defined target pipeline rather than a discovery.
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