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Bison Resources Limited (ASX:BSR)

ALERT: Price-sensitive ASX Announcement for BSR
Current share price for BSR : $0.320 0.015 (4.92%)+
Announcement
Release
30 Oct 2026 8:13AM
Price at Release
$0.305
Full Release
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Summary
Bison Resources Limited (ASX: BSR) reported a productive quarter ended 30 September 2026 focused on advancing its Nevada exploration portfolio, particularly the Bald Peaks Project, where additional geological mapping identified more gossanous breccia and jasperoidal iron-silica alteration associated with the previously defined 1.5 km arsenic-antimony geochemical anomaly, supporting the interpretation of a large-scale Carlin-type mineral system. During the quarter, the company collected a further 310 rock chip samples and 590 soil samples, completed soil sampling on a 100 m by 100 m grid across Bald Peaks, and finished a maiden high-resolution airborne magnetic and radiometric survey over all four Nevada projects, with preliminary interpretation confirming key structural and alteration targets at Bald Peaks, Ruby Lake and Cherry Springs. Subsequent to quarter end, Bison lodged a Notice of Intent with the US Bureau of Land Management for a maiden seven-hole reverse circulation drill program at Bald Peaks, targeting the central 1.5 km anomaly, and it also expanded the project by staking 144 additional unpatented lode claims, increasing Bald Peaks from 40 to 184 claims and lifting the total Nevada portfolio to 456 claims covering about 38.1 km². In the appended Appendix 5B cash flow report, Bison reported cash reserves of A$3.514 million at 30 September 2026, exploration expenditure of A$1.147 million for the quarter, net operating cash outflow of A$1.513 million, no financing inflow during the quarter, no mining production or development activities, related party payments of A$115,000 for directors’ fees, salaries and consulting fees, and estimated funding of 2.32 quarters based on current outgoings.
Key Points
  • Bison Resources released its Quarterly Activities Report for the quarter ended 30 September 2026.
  • Exploration at Bald Peaks identified additional gossanous breccia and jasperoidal alteration trends linked to the existing 1.5 km arsenic-antimony anomaly.
  • A further 310 rock chip samples and 590 soil samples were collected at Bald Peaks, with assay results pending at quarter end.
  • Soil sampling was completed on a 100 m x 100 m grid across the entire Bald Peaks Project to help define drill targets beneath cover.
  • A maiden high-resolution airborne magnetic and radiometric survey was completed across all four Nevada project areas.
  • Preliminary magnetic interpretation confirmed key structural targets and alteration models across Bald Peaks, Ruby Lake and Cherry Springs.
  • At Bald Peaks, the geochemical anomaly sits within a magnetic low near intersecting northeast faults and north-northwest thrusts, consistent with regional Carlin-type settings.
  • After quarter end, Bison lodged a Notice of Intent with the US Bureau of Land Management for maiden drilling at Bald Peaks.
  • The planned maiden drilling program comprises seven reverse circulation drill sites averaging about 300 m depth, with optional diamond tails.
  • Bison staked 144 additional unpatented lode mining claims at Bald Peaks, increasing the project from 40 to 184 claims.
  • The expanded Bald Peaks area secures strike extensions of Carlin-type geochemical and spectral anomalies along north-trending structures.
  • Bison’s Nevada portfolio now totals 456 unpatented lode mining claims covering about 38.1 km² across four projects.
  • Cash reserves at 30 September 2026 were approximately A$3.514 million.
  • Exploration and evaluation payments for the quarter were A$1.147 million under Appendix 5B item 1.2(a).
  • Net cash used in operating activities during the quarter was A$1.513 million.
  • There were no mining production or development activities during the quarter.
  • Related party payments of A$115,000 comprised directors’ fees, salaries including superannuation, and consulting fees.
  • The company estimated 2.32 quarters of funding available based on quarter-end cash and current outgoings.
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.