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Green & Gold Minerals Limited (ASX:GG1)

ALERT: Price-sensitive ASX Announcement for GG1
Current share price for GG1 : $0.160 0.01 (6.67%)+
Announcement
Release
30 Jun 2026 8:18AM
Price at Release
$0.150
Full Release
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Summary
Green & Gold Minerals Limited (GG1) has entered a drill for equity agreement with Centurion Drilling Pty Ltd, aimed at enhancing GG1's exploration capacity at the Herberton Conductor Metals and Chillagoe Gold Projects. The agreement will enable GG1 to conduct approximately 30% more drilling metres for the same cash expenditure by paying 50% of drilling service costs in cash and the other 50% through the issuance of GG1 shares, subject to ASX rules. Centurion Drilling, established in 2011, has been granted exclusivity for drilling services, with performance and termination conditions applied. The Herberton project is located in a historic mining region with significant metal demand potential, while the Chillagoe project contains notable gold and silver resources.
Key Points
  • Green & Gold Minerals Limited (GG1) signed a drill for equity agreement with Centurion Drilling Pty Ltd.
  • The agreement allows GG1 to drill more metres for the same cash expenditure, enhancing exploration capacity.
  • The agreement covers GG1's Herberton Conductor Metals and Chillagoe Gold Projects.
  • GG1 will pay for consumables, fuel, hire items, and accommodation in cash, and 50% of the drilling service costs in cash.
  • The remaining 50% of drilling costs will be paid through the issuance of GG1 shares, subject to ASX rules and legal requirements.
  • Centurion Drilling is granted exclusivity for drilling services for current and following field seasons, subject to performance.
  • Performance and termination provisions are included, allowing GG1 to engage alternative contractors if needed.
  • The initial drilling campaign commenced in May 2026, with shares issued based on a 14-day VWAP.
  • Centurion Drilling is a reputable mineral exploration drilling contractor based in Queensland, operating since 2011.
  • The Herberton project is in a historic mining area with potential for future electrification and AI metal demand.
  • The Chillagoe project has an inferred JORC Resource of gold and silver, with recent positive drill results.
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.