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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
2 Feb 2026 9:48AM
Price at Release
$0.008
Full Release
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Summary
Accelerate Resources Limited has resumed Reverse Circulation (RC) drilling at the Balagundi Gold Project, with a particular focus on the Iron Bound Prospect located in Western Australia. The drilling at Iron Bound is aimed at testing beneath historic gold workings within a structural corridor of folded dolerite and basalt-sediment contacts. The program plans to cover approximately 800 meters and is a part of a larger exploration strategy that includes further drilling at Paris Gift Trend and a Gradient Array Induced Polarisation (GAIP) survey at the Fluffy Gorilla Prospect. These efforts are intended to advance the Balagundi Project toward resource definition and assessment, with a maiden gold resource targeted by the end of 2026. The Balagundi Project is located near significant gold operations and is considered highly prospective yet underexplored.
Key Points
  • RC drilling commenced at Iron Bound in Balagundi Gold Project.
  • Approximately 800m of drilling planned targeting historic gold workings.
  • Further drilling at Paris Gift Trend planned to extend and infill gold shoot.
  • GAIP survey underway at Fluffy Gorilla Prospect for deeper sulphide systems.
  • Balagundi Project located near Kalgoorlie with transformative potential.
  • Exploration strategy aims to define maiden gold resource by end of 2026.
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.