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Minerals 260 Limited (ASX:MI6)

ALERT: Price-sensitive ASX Announcement for MI6
Current share price for MI6 : $0.660 -0.17 (-20.48%)+
Announcement
Release
13 Oct 2026 8:22AM
Price at Release
$0.830
Full Release
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Summary
Minerals 260 reported that ongoing drilling at its 100%-owned Bullabulling Gold Project, 25km south-west of Coolgardie in Western Australia, has strengthened confidence in the 6.2Moz Bullabulling Mineral Resource Estimate through results from 53 infill and extensional holes totalling 11,674m and 320 grade control holes totalling 25,970m, with grade control focused on Phoenix and additional infill and extension work at Phoenix, Bacchus, Kraken and Dicksons. The company said initial 10m by 10m grade control drilling at Phoenix shows good correlation with the existing MRE and improves mining-scale definition ahead of the Definitive Feasibility Study, while notable high-grade intersections included 7m at 10.9g/t Au from 7m, 21m at 3.4g/t Au from 27m, 11m at 9.0g/t Au from 49m and 6m at 17.1g/t Au from 19m at Phoenix, and 1.1m at 290g/t Au from 170m plus 10m at 2.4g/t Au from 309m at Bacchus. The results support continuity within and beyond current resource boundaries, potential conversion of Inferred Resources to Indicated, identification of thick and shallow high-grade lodes, and further understanding of higher-grade northeast and northwest structural trends or “jewellery boxes,” while a regional gravity survey has also outlined additional targets along the Bullabulling trend and near Kraken, supporting further resource growth potential.
Key Points
  • Announcement released on 13 October 2026 by Minerals 260 Limited (ASX: MI6).
  • The update relates to grade control, infill and extensional drilling at the 100%-owned Bullabulling Gold Project in Western Australia.
  • Bullabulling hosts a JORC 2012 Mineral Resource Estimate of 190Mt at 1.0g/t Au for 6.2Moz of gold effective 8 July 2026.
  • Results cover 53 infill and extensional drill holes for 11,674m and 320 grade control holes for 25,970m.
  • Initial grade control drilling at Phoenix was completed on 10m by 10m spacing across Phoenix North and South.
  • Preliminary twin-hole and spatial comparisons indicate grade control results are consistent with the drilling underpinning the MRE.
  • Grade control drilling improved definition of mineralisation and reduced operational risk for future mining.
  • A second grade control program is planned to support the Definitive Feasibility Study and Resource-to-Reserve evaluation.
  • Phoenix grade control delivered strong shallow results including 21m at 3.4g/t Au from 27m, 7m at 10.9g/t Au from 7m, 11m at 9.0g/t Au from 49m, 6m at 17.1g/t Au from 19m and 6m at 10.0g/t Au from 22m.
  • Phoenix infill drilling confirmed thick stacked lodes, including 14m at 1.0g/t Au from 142m, 5m at 3.8g/t Au from 206m and 15m at 1.9g/t Au from 254m in BBRC0733.
  • Phoenix extensional drilling intersected mineralisation beneath the MRE pit shell, including 8m at 1.0g/t Au from 354m and 5m at 2.8g/t Au from 412m.
  • Bacchus drilling returned standout high-grade intersections including 1.1m at 290g/t Au from 170m in BBRD0538 and 1m at 35.8g/t Au from 314m in BBRD0546.
  • Bacchus also returned 7m at 4.3g/t Au from 246m, 6.5m at 2.3g/t Au from 270m and 10m at 2.4g/t Au from 309m.
  • Kraken infill drilling returned 7m at 1.5g/t Au from 135m.
  • Dicksons extensional drilling returned 5m at 1.8g/t Au from 19m, 7m at 1.2g/t Au from 83m and 4m at 2.3g/t Au from 284m.
  • The drilling is intended to support upgrading Inferred Resources to Indicated across multiple deposits.
  • Analysis has improved definition of northeast and northwest higher-grade trends that cut across the main north-south lodes.
  • The company refers to favourable intersections of these higher-grade trends as 'jewellery boxes'.
  • Visible gold occurrences broadly cluster along these interpreted higher-grade trends.
  • A regional ground gravity survey outlined a continuous north-northwest gravity high associated with the Bullabulling deposit and additional targets north and south of the current MRE.
  • The change in stratigraphic orientation at Kraken is interpreted as a structural inflection favourable for gold mineralisation in the Eastern Goldfields.
  • Management said the results reinforce confidence in the scale and continuity of the Bullabulling resource while highlighting resource growth opportunities at depth and along strike.
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.