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49 Metals Limited (ASX:49M)
ALERT: Price-sensitive ASX Announcement for 49M
Current share price for 49M : $0.094 -0.031 (-24.80%)+
Announcement
Release
3 Jun 2026 9:43AM
Price at Release
$0.125
Full Release
Summary
49 Metals Limited announced a significant high-grade gold discovery at its Gold Mountain project in the Walker Lane trend, Nevada, USA. The drilling at hole DRC#9 revealed a substantial oxide gold intercept of 9.1m at 21.9g/t within a broader 27.4m at 8.3g/t. This discovery is believed to represent a feeder zone within a larger epithermal system, indicating potential for a vast, multi-zone gold system. Ongoing drilling and pending assays aim to further delineate this high-grade structure, which remains open in all directions, enhancing the project's prospectivity.
Key Points
- RC drilling returned 9.1m at 21.9g/t Au from 224.0m.
- Broader intercept of 27.4m at 8.3g/t Au from 221.0m.
- High-grade feeder structure identified, open in all directions.
- 227 gram-meter intercept is the best recorded at Gold Mountain.
- Gold Mountain is a multi-zone epithermal gold-silver system.
- Drilling continues, with additional assays pending.
- 49 Metals holds leasehold interest in Gold Mountain project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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