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Accelerate Resources Limited (ASX:AX8)

ALERT: Price-sensitive ASX Announcement for AX8
Current share price for AX8 : $0.006 0.001 (20%)+
Announcement
Release
17 Jul 2026 9:18AM
Price at Release
$0.005
Full Release
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Summary
Accelerate Resources Limited reports strong shallow gold hits from aircore drilling at the Fluffy prospect, part of their Balagundi Gold Project near Kalgoorlie, Western Australia. The latest drilling results indicate significant gold intersections along the eastern margin of the Catrock-textured porphyritic dolerite, aligning with historic gold and arsenic anomalies. The company has expanded its Balagundi landholding by 80% through a transaction with Maritana Minerals Limited. This expansion supports further exploration and drilling efforts, targeting the Fluffy prospect for future RC and/or diamond drilling. Geological data suggests potential hydrothermal alteration linked to gold mineralisation, emphasizing the project's promising outlook.
Key Points
  • Strong new gold intersections were found along the eastern margin of the Catrock-textured porphyritic dolerite.
  • Recent drilling aligns with historic gold and arsenic anomalies, suggesting potential gold mineralisation.
  • The Balagundi Gold Project is located within the Norseman–Wiluna greenstone belt, close to Kalgoorlie.
  • Accelerate Resources Limited has expanded the Balagundi Project through a transaction with Maritana Minerals Limited.
  • The Fluffy prospect within the Balagundi Project shows promising targets for future drilling.
  • Geological evidence suggests hydrothermal alteration associated with potential gold mineralisation.
  • The company plans to advance the Fluffy prospect to RC and/or diamond 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.