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Neometals Ltd (ASX: NMT) Barrambie - Drilling Starts at Historic Golden Treasure Mine

Neometals Ltd (ASX: NMT)

Highlights
• Exploration drilling commences at the Barrambie Ranges gold trend at Neometals Ltd 100% owned Barrambie Gold Project.
• The Barrambie Ranges trend hosts the historic Golden Treasure mine which was the most prolific of the former mines within the Barrambie Greenstone Belt, producing 15,326 ounces at 29.4g/t Au between 1905 and 19111 and has not been drill tested for nearly 40 years.
• A total of 8,300 metres reverse circulation drilling (“RC”) is planned for the December Quarter 2025 at the former Golden Treasure gold mine, the broader Barrambie Ranges mineralised trend, the historic Mystery gold mine, and the Ironclad deposit. 

Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to provide an exploration update on the Company’s 100% owned Barrambie Gold Project (“the Barrambie Project”), in Western Australia.

Drilling has commenced at the Barrambie Ranges gold trend, the first programme in a planned 8,300 metre RC campaign which will also target extensions at the historic Mystery mine, and extension and infill drilling at the Ironclad deposit (13,000oz @ 1.6g/t Au Inferred Mineral Resource Estimate (“MRE”)²).

The first discovery of gold in the Barrambie Greenstone Belt (“BGSB”) occurred at the site of the historic Golden Treasure gold mine in 1905 during the construction of the Rabbit Proof Fence. This discovery ultimately led to the opening of four gold producing centres in the BGSB, with the Golden Treasure mine being the largest and highest-grade producer (29.4g/t). ^1,3

Despite this outstanding exploration opportunity, drilling by previous explorers in the vicinity of the historic mine remains limited. Similarly, the host shear-system, which can be traced along a 4km trend at the Barrambie Ranges, has been subject to only minimal drill-testing, with holes being clustered and shallow, generally less than 35m deep^3,4. 

Neometals Managing Director, Chris Reed, says: “We are excited to resume exploration drilling, in particular at Barrambie Ranges, the host of the high-grade Golden Treasure mine, a historic site where the Barrambie gold story originated. Growing and upgrading the Ironclad deposit is also a key step in achieving first commercial gold production at Barrambie.”

To read the full announcement, please click here

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About Neometals

Neometals’ purpose is to deliver stakeholder value by enabling the sustainable production of critical and valuable materials essential for a cleaner future. The Company is commercialising a portfolio of low-cost sustainable processing solutions for critical materials in parallel with the exploration and development of mining operations at its Barrambie Gold Project.

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