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Rowena Duckworth
Perth-based Premier1 has wrapped up a reverse circulation (RC) drilling campaign at its Yalgoo gold project in Western Australia, testing a series of high-priority targets as the company looks to expand its foothold in the prospective greenstone belt.
The program drilled 16 RC holes for a combined 2776 metres, chasing structural and geochemical sweet spots in the large-scale hydrothermal system across the company’s Mt Kersey, Central Block, Carlisle and Crescent South prospects.
A grant from the highly competitive Western Australia’s Exploration Incentive Scheme helped pay for the program.
The primary focus of the drill bit was the Mt Kersey prospect, sitting within spitting distance of Premier1’s Wadgingarra maiden inferred resource, which currently stands at 150,000 tonnes grading 2.7 grams per tonne (g/t) gold for 13,000 ounces.
‘Completing drilling at Mt Kersey is a milestone for the company.’
Premier1 executive director Simon Phillips
Nine RC holes, totalling an impressive 1924m, were plunged into the target to test a 500m-long structural and geochemical trend seemingly associated with a major interpreted inverse fault – often the plumbing systems that carry the gold.
Soil geochemistry across the area has highlighted a broad hydrothermal footprint containing a gold anomaly that stretches north-south, with clear pathfinder zoning of deeper molybdenum in the south. This then transitions through bismuth-tellurium and tungsten zones to cooler, shallower arsenic-dominant sections in the north.
The anomaly zone has previously delivered some intriguing surface clues, with historical rock chips returning exceptional grades of 26.4g/t and 14.2g/t gold – enough to catch the attention of any self-respecting exploration geologist chasing the next gold shoot.
Elsewhere across its tenure, Premier1 drilled three holes at its Central Block prospect, targeting previously untested electromagnetic anomalies and historical surficial gold workings identified during earlier surveys.
Another three holes tested the company’s Carlisle prospect, following up a previous intersection of 10m grading a healthy 3.1g/t gold from 19m, including 7m at a stellar 4.3g/t.
The final hole of the program was drilled at Crescent South, targeting the up-dip extension of a particularly eye-catching high-grade intercept from last year’s drilling. That earlier hit returned 3m at a gobsmacking 31.5g/t gold from 97 metres, featuring one spectacular metre running an eye-watering 91.9g/t gold.
Samples from the new drilling blitz have been sent to the lab for assays, with the results eagerly anticipated.
Premier1 executive director Simon Phillips said: “Getting the rig on the ground and completing drilling at Mt Kersey is a milestone for the company, especially following our recent 100% acquisition of the Yalgoo gold project.”
Yalgoo sits in the Yalgoo-Singleton greenstone belt, sandwiched between major producers Ramelius Resources to the north and Capricorn Metals to the south. The town was founded in the 1890’s following the discovery of alluvial gold, and plenty of reminders of its wild gold rush days remain scattered throughout the area.
The belt is recognised for hosting high-grade orogenic gold and base metals deposits. It sits along strike from ASX-listed 29Metals’ long-running Golden Grove operation and newer discoveries such as Capricorn Resources’ Golden Range gold-antimony project and its ultra-high-grade Deflector mine. Additionally, the area is also recognised historically for emeralds, topaz, bismuth and other gemstones.
Premier1’s Wadgingarra prospect anchors the Yalgoo holding, hosting a 13,000-ounce near-surface resource where the high-grade gold starts at surface at site and 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 at Crescent Carlisle – the two eastern flank prospects.
Exploration manager Paul Smith said: “The EIS-funded program successfully intersected the key geological units and structures, including metasedimentary units and quartz dolerites. We are encouraged by initial observations from drill chips and logging.”
With samples now at the laboratory and assays expected within four to six weeks, Premier1’s latest drill campaign has effectively opened the next chapter in its Yalgoo exploration story. Results could reveal whether the company is sitting on a broader gold system hidden beneath the Yalgoo greenstones.
The company, however, is far from a one-trick pony. Its second major project – Abbotts North – lies up the road in perhaps one of WA’s most active gold regions, along the Meekathara-Murchison greenstone belt.
If the results from the lab mirror recent drilling, Premier1’s expanding resources could soon be adding even more shine to the region and, importantly, to the company’s balance sheet.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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