MB Gold (ASX:MBG) has secured up to $220,000 in Western Australian Government co-funding for its maiden diamond drilling program at Murphy Well.
The grant comes under the Exploration Incentive Scheme (EIS) Co-funded Drilling Program, marking the company’s second successful EIS application this year after $100,000 awarded in April for geophysical surveys.
The funding will support testing of three priority chargeability targets identified from a recently completed dipole-dipole induced polarisation (DDIP) survey at the Murphy Well prospect, within the Marble Bar Gold Project in the Pilbara.
Data processing by geophysics contractor Terra Resources identified chargeability anomalies within and near the edge of the Murphy Well Granodiorite.
The company says these may represent sulphide accumulation associated with an intrusion-related or structural gold and base metal system.
Previous drilling in 2023 and 2024 intersected sericite alteration, trace disseminated sulphides, and quartz veining.
Results include 5m @ 1.1 grams per tonne gold (Au), 15g/t silver (Ag), 0.30% lead (Pb), and 0.23% zinc (Zn) from 219m, and 1m @ 9.92g/t Au, 39g/t Ag, 0.45% Pb, and 2% Zn from 341m.
CEO Logan Barber says the grant validates the project’s geological potential.
“Receiving a second EIS co-funding grant of up to $220,000 for diamond drilling at Murphy Well is a strong validation of the geological potential of the Marble Bar Gold Project and the quality of targets generated by our technical team,” Barber says.
The company has engaged drilling contractor DDH1 Drilling for the 2,000m diamond program, scheduled to commence in early November. Assay results are expected in Q1 2027.
MB Gold is an Australian gold explorer advancing an early-stage project portfolio in Western Australia.
Write to JC Villarba at Mining.com.au
Images: MB Gold
