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Accelerate Resources Limited (ASX:AX8)

ALERT: Price-sensitive ASX Announcement for AX8
Current share price for AX8 : $0.005 -0.003 (-37.50%)+
Announcement
Release
27 Jan 2026 8:46AM
Price at Release
$0.008
Full Release
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Summary
Accelerate Resources Limited (AX8) reports the results of its first-ever Reverse Circulation (RC) drilling at the Balagundi Gold Project in Western Australia, marking a significant milestone in their exploration efforts. The drilling intercepted consistent gold mineralization along the Paris Gift trend, confirming strong geological continuity over approximately 300 metres of strike. Significant gold intercepts were recorded, with the geological modeling suggesting that gold occurs in higher-grade shoots along the trend. This initial success validates the exploration model and highlights the project's potential to host shallow gold mineralization. Future explorations are planned to extend and infill the newly identified mineralization, with drilling at the Iron Bound Prospect and further work at Paris Gift. This development is timely, coinciding with record gold prices and the presence of multiple toll milling operations in the area, which could significantly enhance the project's economic viability.
Key Points
  • First RC drilling by AX8 at Balagundi intercepted consistent gold mineralization.
  • Drilling confirms strong geological continuity over approximately 300 metres of strike.
  • Significant gold intercepts recorded, including 6m @ 1.47 g/t Au and 4m @ 1.29 g/t Au.
  • Gold occurs in higher-grade shoots along the Paris Gift trend.
  • Project has potential for shallow gold mineralization.
  • Further drilling planned at Iron Bound and Paris Gift.
  • Exploration aligns with record gold prices and multiple toll milling operations in the area.
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.