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49 Metals Limited (ASX:49M)

ALERT: Price-sensitive ASX Announcement for 49M
Current share price for 49M : $0.110 0.028 (34.15%)+
Announcement
Release
31 Jul 2026 9:24AM
Price at Release
$0.082
Full Release
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Summary
49 Metals Limited has successfully completed a maiden reverse circulation drilling program at the Gold Mountain project in Nevada, comprising approximately 7,500 meters over 22 holes. The results have confirmed a high-grade feeder corridor and broad oxide gold mineralization, with multiple targets identified for further exploration. Significant intercepts of gold and silver have been reported from the initial drill holes, and additional assays are pending. The company has also added six new patented mining claims at Gold Mountain at no cost. As of 30 June 2026, 49 Metals Limited held cash reserves of approximately $6.8 million. The company plans to continue its exploration and drilling activities to further understand the potential of the Gold Mountain project, which is believed to be a large epithermal gold system.
Key Points
  • Completion of a 7,500m RC drilling program at Gold Mountain project.
  • Identification of high-grade feeder corridor and broad oxide gold mineralization.
  • Significant gold and silver mineralization discovered.
  • Addition of six new patented mining claims at no cost.
  • Cash reserves of approximately $6.8 million as of 30 June 2026.
  • Pending further assay results and planning for additional drilling.
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.