Brought to you by BULLS N’ BEARS
Rowena Duckworth
Premier1 Lithium is about to put drill steel into the ground at its Mt Kersey gold prospect in Western Australia’s Murchison region, lining up a reverse circulation (RC) drilling program at one of the highest-priority targets within its newly consolidated Yalgoo Gold Project.
The drilling follows Premier1’s recent 100 per cent acquisition of the Yalgoo project, which covers 266 square kilometres of prime Yalgoo greenstone belt real estate. The ground already hosts a maiden inferred resource at the company’s Wadgingarra prospect of 150,000 tonnes at a tantalising 2.7 grams per tonne (g/t) gold for 13,000 ounces.
Notably, at Wadgingarra, the shallow, near-surface resource remains open along strike and at depth, providing a solid foundation for further growth.
Mt Kersey sits immediately east of Wadgingarra and is considered one of the most compelling untested targets in the district. Planned drilling will focus on a preserved hydrothermal system extending more than 1km along strike and coincident with strong gold and multi-element soil anomalies, including molybdenum, bismuth, tellurium, tungsten and arsenic.
Surface work has already delivered encouraging signs, with high-grade rock chip samples returning assays of up to 26.4g/t gold and 14.2g/t gold near historical workings. These results hint at the potential for higher-grade mineralisation at depth within a structurally complex setting.
The Yalgoo district is already proven gold country, sitting within trucking distance of established processing hubs owned by Ramelius Resources and Capricorn Metals. Ramelius’ Mt Magnet mill and Capricorn’s nearby operations underscore the region’s production credentials and highlight potential development optionality should Premier1 delineate a viable resource at Mt Kersey. Access to existing infrastructure not only de-risks future development scenarios but also reinforces Yalgoo’s reputation as an emerging gold hub in WA’s Murchison region.
Geologically, Mt Kersey is hosted within a sequence of sediments, banded iron formation, gabbro, komatiitic basalts and late-stage intrusive units. Mineralisation appears to be focused along secondary structures developed in the hanging wall of a major deep-tapping inverse fault – a classic setting for Murchison gold systems.
Historical drilling across the area has barely scratched the surface, typically stopping short of 40 metres and missing both the key structural targets and the core of the hydrothermal system, which Premier1 is now targeting.
Subsequent drilling by other explorers also focused away from the core geochemical anomalies, leaving much of Mt Kersey effectively untested at meaningful depths. That lack of serious drilling is something Premier1 is now looking to change.
Premier1 executive director Simon Phillips said: “The successful completion of our 100 per cent acquisition of the Yalgoo Gold Project delivered Premier1 full ownership and exposure to Mt Kersey and its surrounding prospects. These targets lie within an emerging large-scale mineralised hub.”
The upcoming RC program will include about 15 drill holes for a total of 3,700m, targeting key structural corridors and geochemical highs identified through geological mapping, reinterpretation of historical data and analysis of the company’s 2024 drone magnetic survey.
Strike Drilling has landed the tender to drill, and the rods will start spinning mid-month. Importantly, drilling costs will be partially offset by up to $180,000 in co-funding from the WA Government’s Exploration Incentive Scheme (EIS), along with an existing $176,000 drilling credit, significantly reducing cash outlay.
With Ramelius Resources and Capricorn Metals already operating in the neighbourhood, Yalgoo is shaping up as one of the Murchison’s most tightly held gold corridors.
Any drilling success at Mt Kersey wouldn’t just add ounces — it would drop Premier1 into a district where mills, haul roads and hungry processors already exist, giving the company multiple pathways to turn discovery into value fast.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
