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Neometals Ltd (ASX: NMT) First Gold Assays for Barrambie Ranges Drilling

Neometals Ltd (ASX: NMT)

Highlights
• The programme of RC drilling at Neometals’ 100% owned Barrambie Gold Project has now been completed. In total, eighty-two (82) holes for 8,457 RC metres undertaken along the Barrambie Ranges gold trend at the Golden Treasure mine, the Ironclad deposit and historic Mystery mine.
• First gold assays have been returned from 75 drill samples of the total 3,258 drill samples collected at Barrambie Ranges (representing approximately 2% of Barrambie Ranges metres drilled).
• Specific samples of geologically logged intervals of potential mineralisation were selected from the Barrambie Ranges drill program for expedited gold analysis1. Significant intervals include:
     • 25BRRC011 – 5.0m at 5.64g/t Au from 84.0m (including 2.0m at 13.27g/t Au); and,
     • 25BRCC025 – 2.0m at 11.75g/t Au from 137.0m (including 1.0m at 21.88g/t Au).
• Routine analysis of remaining Barrambie Ranges RC drill samples is continuing. 

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. 

RC drilling was undertaken during October and November 2025 at three locations within the Barrambie Project. In total, eighty-two (82) holes were completed for 8,457 RC metres, including twenty-six (26) RC holes for 3,258m at the Barrambie Ranges gold trend and historic high-grade Golden Treasure mine. Objectives of the Barrambie Ranges drilling2 programme included: testing extensions and repetitions of high-grade mineralisation below, and halo mineralisation and parallel structures adjacent to, the historic Golden Treasure-Barrambie North workings, and follow-up of shallow, historic drill intersections and workings along a 600m strike of the Barrambie Ranges mineralised gold trend.

The Competent Person advises that of the 3,258 drill samples collected at Barrambie Ranges, seventy-five (75) were submitted for expedited gold analysis, in order to provide an early indication of the potential gold grades along the Barrambie Ranges trend. This subset of samples represents (approximately) 2% of all Barrambie Ranges drill samples and is not an exhaustive sub-set of all potentially mineralised samples, noting that the remaining samples remain subject to ongoing assay. For the purposes of identifying samples for accelerated assay, selection criteria included the presence of mineralisation indicators (principally the occurrence of quartz veining) and the position of the sample in the hole relative to the interpreted lode position. Gold analysis results for the 75 samples assayed to date are summarised in Appendix 2 and Figures 2 to 4, within this announcement.

Next Steps

Routine analysis of the remaining Barrambie Ranges, Ironclad and Mystery drill samples² is being undertaken and the results of those assays will be reported separately, when available. 

The programme along the Barrambie Ranges trend and at the historic Golden Treasure and Mystery gold mines are regarded as first-pass drill-testing with results to inform follow-up exploration of the broader mineralised trends.

Ironclad drill sample assay results are expected to be reported in January 2026 with an update of the Ironclad Inferred Mineral Resource Estimate (“MRE”)3 and mine plan anticipated to be reported in the March Quarter, 2026.

Neometals Managing Director, Chris Reed, says:
“These early results support our view of narrow-vein, high-grade gold potential along the Barrambie Ranges gold trend, and we are encouraged by the first assays and the potential opportunity they present. However, our primary short-term focus is growing and advancing the Ironclad deposit towards commercial production.”

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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