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Green & Gold Minerals Limited (ASX:GG1)

ALERT: Price-sensitive ASX Announcement for GG1
Current share price for GG1 : $0.080 -0.01 (-11.11%)+
Announcement
Release
12 Oct 2026 9:14AM
Price at Release
$0.090
Full Release
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Summary
Green & Gold Minerals Limited announced that drilling has commenced at Mt Wandoo at its Chillagoe Gold Project in north Queensland, with six holes completed as part of an infill, extensional and metallurgical program aimed at extending open mineralisation to the southeast, expanding high-grade zones within the existing resource footprint, and testing North Wandoo and Little Wandoo, with first assay results expected in 6–8 weeks; the company also outlined that drilling is intended to continue until the Christmas break, with a planned switch to a track-mounted rig to move to the Herberton Conductor Metals Project for deeper testing at Copper Hills and maiden drilling at Elizabeth Bluffs before returning to Mt Wandoo. In the Herberton update, assays from two August 2026 Mt Gossan RC holes intersected broad weathered mineralisation from surface, including MGC002 returning 11m at 10.4 g/t Ag, 0.20% Sn, 0.14 g/t Au, 15.7 g/t In, 0.05% Cu and 0.1% Pb from 0m, including 1m at 0.77 g/t Au, 1.70% Sn, 34.0 g/t Ag, 0.21% Cu, 101.0 g/t In and 0.9% Pb from 2m, and MGC001 returning 27m at 2.4 g/t Ag, 0.06% Cu and 4.4 g/t In from 0m; the mineralisation is interpreted as a shallow north-dipping footwall repeat or breccia extension beneath the Siberia Lode, with copper likely depleted in weathered rock, while reprocessed magnetic inversion data is considered a useful vector for further drill targeting at Mt Gossan.
Key Points
  • Drilling has commenced at Mt Wandoo with six holes completed as part of an infill, extensional and metallurgical program.
  • The Mt Wandoo program is designed to extend mineralisation to the southeast, expand high-grade zones in the existing resource model, and test North Wandoo and Little Wandoo.
  • A track-mounted rig is planned to move to Herberton in mid to late October to drill Copper Hills and Elizabeth Bluffs before returning to Mt Wandoo.
  • First assay results from the initial Mt Wandoo drilling phase are expected in 6–8 weeks.
  • At Mt Gossan, MGC002 returned 11m from surface grading 10.4 g/t Ag, 0.20% Sn, 0.14 g/t Au, 15.7 g/t In, 0.05% Cu and 0.1% Pb, including 1m from 2m grading 0.77 g/t Au, 1.70% Sn, 34.0 g/t Ag, 0.21% Cu, 101.0 g/t In and 0.9% Pb.
  • At Mt Gossan, MGC001 returned 27m from surface grading 2.4 g/t Ag, 0.06% Cu and 4.4 g/t In.
  • The Mt Gossan mineralisation is interpreted to be close to true width and to occur in a shallow north-dipping zone below the Siberia Lode.
  • The company considers tin and indium more reliable indicators than copper in the weathered zone because copper is commonly depleted by weathering.
  • Reprocessed airborne magnetic inversion suggests the Mt Gossan and Siberia mineralisation is associated with a north-dipping magnetic body and provides a vector for further targeting.
  • The Chillagoe Gold Project contains an Inferred JORC Resource at Wandoo of 32,400oz Au and 387,000oz Ag at 1.1 g/t Au and 13 g/t Ag, as previously disclosed.
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.