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Andrew Todd
Premier1 has kicked off drilling at its Mt Kersey gold prospect, one of the few remaining gold targets in the prolific West Australian Yalgoo greenstone belt that have been barely touched.
The company has launched into 3700m of reverse circulation (RC) drilling at site, chasing a large-scale hydrothermal system east of its Wadgingarra starter resource.
The expeditious program comes hard on the heels of Premier1’s recent full acquisition of the Yalgoo gold project, spanning 266 square kilometres of prime WA gold real estate and in a heavily consolidated district of major producers.
The cost-effective drilling will now zero in on a preserved hydrothermal system more than 1km long to the project’s east that has dodged meaningful drilling until now.
The company says its high-grade Yalgoo project is now in a strong position to quickly add ounces to the region, with a 13,000-ounce starter resource grading 2.7 grams per tonne (g/t) gold at Wadgingarra.
‘We now have full exposure to the discovery potential at Mt Kersey and at several other targets across the Project.’
Premier1 executive director Simon Phillips
The rigs will quickly look to firm up several other prospects on the opposite flank of the greenstone belt, testing the hanging wall of a major inverse fault where an enticing surface gold footprint appears.
The anomaly stretches north-south with clear zoning of deeper, hotter molybdenum in the south, transitioning through bismuth-tellurium and tungsten zones to cooler, shallower arsenic-dominant sections in the north.
Such an intact system is rare in the Yilgarn and significantly enhances the target’s appeal.
High-grade rock chips from the area have already returned some impressive whiffs up to 26.4g/t gold, hinting at the possibility of high-grade systems at depth.
Premier1 plans to chase the structural and geochemical sweet spots with 15 holes, averaging 250m in depth. The company says past work, which was often limited to only 50m depth, either missed the core targets or focused elsewhere, leaving the main hydrothermal footprint largely untouched.
The program benefits from a smart non-dilutive co-contribution of up to $180,000 from the WA government, plus a $176,000 credit with contractor Strike Drilling.
The rig should finish up in roughly two weeks, with assay results expected at the end of the quarter.
Premier1 executive director Simon Phillips said: “Getting the rig on the ground at Mt Kersey is a significant milestone for the Company, especially following our recent 100% acquisition of the Yalgoo Gold Project. We now have full exposure to the discovery potential at Mt Kersey and at several other targets across the Project, which lie within what is an emerging large-scale mineralised hub.”
Yalgoo sits in the Yalgoo-Singleton greenstone belt, sandwiched between major producers Ramelius Resources to the north and Capricorn Metals to the south.
The belt is recognised for high-grade orogenic gold and base metals potential, lying along strike from the long-running Golden Grove metals operation and newer discoveries such as Capricorn’s Golden Range gold-antimony project and the ultra-high-grade Deflector mine.
Premier1’s Wadgingarra prospect anchors the Yalgoo holding, hosting a 13,000-ounce near-surface resource that remains open along strike and at depth.
Despite limited modern drilling, with historical holes averaging just 46m and focused on oxide zones near old workings, early 2025 reverse circulation work delivered strong results, including bonanza hits up to 3m at 31.5g/t gold at Crescent and 10m at 3.1g/t gold at Carlisle – two eastern flank prospects.
The company also holds the Abbotts North gold project further east in the Meekatharra-Murchison greenstone belt, 35km north of Meekatharra and 20km from New Murchison Gold’s high-grade Crown Prince deposit. Its Rochefort prospect stands out there, with a 350m-by-350m gold anomaly over dolerite. Heritage clearances are advancing for planned aircore and ultrafine soil programs later this year.
Premier1’s ground is now set up for renewed momentum after a recent $650,000 raise, which will accompany its drilling credits and fuel 2026’s work programs.
With shallow high-grade at Wadgingarra, walk-up drilling at Mt Kersey and processing options nearby, Premier1’s Yalgoo focus looks to be gaining traction.
As big players construct domains north and south of both projects, the company’s growing resources might soon bring more lustre to the area’s standing.
For the moment, the roughly $10 million market-capped explorer is staring down a fresh round of drilling and the very real prospect of a discovery before the first quarter is out.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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