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Minerals Exploration Limited (ASX:MEX)

ALERT: Price-sensitive ASX Announcement for MEX
Current share price for MEX : $0.059 -0.003 (-4.84%)+
Announcement
Release
23 Jun 2026 8:46AM
Price at Release
$0.062
Full Release
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Summary
Minerals Exploration Limited has completed its first phase of diamond drilling at the Jubilee gold prospect within its Waitekauri Gold Project in New Zealand. All eight drilled holes intersected quartz-mineralized zones, with the best intercept being 0.5m at 10.5g/t Au. A new E-W trending quartz-base metal vein was discovered with notable mineralization, and several high-grade rock chip samples were found, including one with 2,273g/t Au. This phase of drilling targeted depth extensions at Jubilee North, and now focuses on the shallow high-grade system at Jubilee South, which extends towards the Sovereign prospect. A recent aeromagnetic survey and ongoing geochemical analysis aim to enhance understanding of gold sources in the area.
Key Points
  • Completion of first-phase diamond drilling at Jubilee gold prospect.
  • Intersections of quartz-mineralized zones in all eight drill holes.
  • Best intercept of 0.5m at 10.5g/t Au in hole TGW005.
  • Discovery of a new E-W trending quartz-base metal vein.
  • High-grade rock chip samples up to 2,273g/t Au found.
  • Continuation of drilling at Jubilee South towards Sovereign prospect.
  • Recent aeromagnetic drone survey completed over key prospects.
  • Ongoing ionic leach geochemical survey to identify gold source structures.
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.