Clara Resources Australia (ASX:C7A) will commence its first drilling program at the Mareeba Gold Project in Far North Queensland after raising $1.17 million through a placement.
The company has finalised planning for an initial 25 reverse circulation holes totalling 3,750m across three areas within the project. The program marks the first drilling at Mareeba since Western Mining concluded its Hodgkinson Joint Venture in 1989.
Clara’s resource drilling program will infill historical drilling along the Kingsborough Fault corridor at half the original spacing, targeting a maiden JORC mineral resource estimate.
The company has georeferenced the historic drill pads and collars, correcting their positions against a 1m LiDAR terrain model flown in March 2026.
High-impact drilling will test beneath the Victory and B.B. historic mines, which produced at grades exceeding 30 grams per tonne gold (Au) and have never been drill tested.
Victory produced 2,058 ounces at a recovered grade of 35.4g/t Au between 1877 and 1896, while B.B. produced 846 ounces at 31.6g/t Au between 1877 and 1890.
Drilling at Rebo/Caledonia North will test ground around Freeport’s 1986 percussion holes, including the project’s ‘highest-grade’ drill intercept of 2m @ 45.05g/t Au from 6m.
Executive Director Duncan Gordon says the program has two key aims: infilling historic drilling to deliver a JORC-compliant resource and testing depth extensions of ‘high-grade’ historic mining operations.
“Firstly, we want to infill the historic drilling along the Kingsborough Fault corridor and drive additional results to deliver a JORC-compliant mineral resource. That historic drilling is good data and we have located every one of those collars, but it was shallow reconnaissance work at twice the spacing we need,” Gordon adds.
The company has received firm commitments to raise $1.17 million through a two‑tranche placement of 388.3 million shares at $0.003 per share.
Clara will commence drilling on previously cleared ground at NEBF, Lady Burdett Coutts, and Rebo/Caledonia North. Drilling at Victory and B.B. will follow establishment of new pads and access tracks.
The company plans to compile historic and new drilling data toward estimation of a maiden JORC mineral resource over the Kingsborough Fault corridor.
Clara Resources Australia is an Australian exploration company advancing a portfolio centered on its flagship Mareeba Gold Project in North Queensland alongside the Ashford Coking Coal Project in New South Wales.
Write to JC Villarba at Mining.com.au
Images: Unsplash
