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Polymetals Resources Ltd (ASX:POL)

ALERT: Price-sensitive ASX Announcement for POL
Current share price for POL : $0.760 0.005 (0.66%)+
Announcement
Release
24 Jun 2026 9:49AM
Price at Release
$0.755
Full Release
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Summary
Polymetals Resources Ltd has reported encouraging results from an underground diamond drilling program at the Endeavor Mine in Cobar, New South Wales. The drilling targeted the upper levels of the Main Lode and has confirmed significant high-grade silver-lead-zinc mineralisation. The area, previously thought to be largely sterilised due to a 1996 ground collapse, has been re-evaluated to reveal that the collapse may have been less extensive than assumed, uncovering intact high-grade mineral deposits. The drilling program, consisting of 34 holes and approximately 3,100 meters, aims to expand the mining inventory by defining the scale and continuity of the mineralisation. Initial results from the first 12 holes showed substantial mineralisation close to existing mine development, which supports potential future mining opportunities.
Key Points
  • High-grade mineralisation confirmed at Endeavor Mine.
  • Reassessment of past mine records indicates smaller collapse zone.
  • Initial drilling results show intact mineralisation adjacent to collapse boundaries.
  • 12 of 34 planned drill holes completed with significant results.
  • Potential to add to mining inventory near existing development.
  • Drilling program designed to improve geological confidence.
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.