Accelerate Resources (ASX:AX8) reports maiden reverse circulation drilling at its Spencers discovery has returned 11m @ 4.65 grams per tonne gold (Au) from 25m, including 1m @ 46.93g/t Au.
The company completed nine holes for 1,086m at the Spencers prospect, part of the Balagundi Gold Project located 15km east of Kalgoorlie in Western Australia.
All holes intersected gold mineralisation, confirming a broad system extending over 300m of strike that remains open along strike and at depth.
CEO Luke Meter says the results convert the shallow aircore discovery into a clear target for further drilling.
“These results convert the shallow aircore discovery at Spencers into a clear RC-defined gold target. The standout 11 metres @ 4.65 g/t Au from just 25m demonstrates that Spencers can host high grades over significant widths close to surface,” Meter says.
“Importantly, the high-grade sits within a broader mineralised zone associated with quartz veining and alteration along a geological contact we can map and follow.”
Other intercepts include 11m @ 0.9g/t Au from 73m and 14m @ 0.45g/t Au from 94m. Gold mineralisation occurs within quartz veining and alteration along a dolerite‑sediment contact, providing a mappable geological control.
Spencers sits entirely within granted mining lease M25/92, which is 100% owned by Accelerate.
The company expanded the Balagundi Project through a May 2026 transaction with Maritana Minerals (ASX:MRT), increasing its landholding by 80% to around 62km2.
Accelerate Resources plans to prioritise further drilling at Spencers in coming months. Its focus will be on extending the mineralised zone along strike and testing the dolerite‑sediment contact down‑dip.
Write to JC Villarba at Mining.com.au
Images: Accelerate Resources
