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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.034 -0.015 (-30.61%)+
Announcement
Release
20 May 2026 9:59AM
Price at Release
$0.049
Full Release
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Summary
Gibb River Diamonds Limited has released the drilling results from the Phase 1 exploration at their Edjudina Gold Project in Western Australia. The drilling operation involved 27 aircore holes completed over 830 meters with 268 samples assayed. The exploration, held from April 1 to 6, 2026, revealed gold mineralisation, though at a lower tenor than expected. Weather conditions interrupted the program, leading to early rig demobilisation. A follow-up Phase 2 drilling is planned to cover untested and additional promising targets. The company fully owns the targeted mining lease, and the samples were processed by Jinning Pty Ltd.
Key Points
  • Gibb River Diamonds Limited announced the results from Phase 1 drilling at the Edjudina Gold Project.
  • The drilling program consisted of 27 aircore holes, covering 830 meters, with 268 samples assayed.
  • Sampling was conducted between April 1 and April 6, 2026.
  • Significant gold intersections were observed, although the mineralisation was lower than anticipated.
  • The program faced weather disruptions, leading to early demobilisation of the rig.
  • A Phase 2 drilling program is being planned to include previously inaccessible targets.
  • The company holds 100% ownership of the mining lease M31/481.
  • The assessment and sampling were performed by Jinning Pty Ltd in Kalgoorlie.
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.