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Reward Minerals Ltd (ASX:RWD)

ALERT: Price-sensitive ASX Announcement for RWD
Current share price for RWD : $0.030 -0.003 (-9.09%)+
Announcement
Release
15 Sep 2026 11:07AM
Price at Release
$0.033
Full Release
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Summary
Reward Minerals Ltd (ASX: RWD) announced that it has received statutory approval from the Newfoundland and Labrador Government to begin a maiden seven-hole diamond drilling program at the Jackpot gold-copper prospect within its Mountain Pond Project in Newfoundland, Canada, marking the first drill test ever undertaken on the project; the initial program is planned for about 600m of HQ-oriented core across holes of roughly 40m to 160m depth to test depth and strike extensions of a known outcropping quartz vein and associated shear zone, with site preparation commencing on 16 September 2026 and drilling shortly after, while the company also reported new soil sampling results from 333 samples that further strengthen the Sullivan Pond Fault corridor as a gold target, including refinement of the Bingo anomaly southwest of Jackpot and definition of a new High Stakes anomaly northeast of Jackpot with a peak assay of 378ppb Au, together outlining a prospective corridor of at least 1.2km strike; the release also reiterates strong historic and recent rock chip results at Jackpot, including historic assays up to 23.77g/t Au and 7.48% Cu and recent confirmation samples such as 8.16g/t Au and 0.27% Cu, and notes that follow-up rock chip sampling, pending multi-element ICP-34 results, and further field mapping and target evaluation will guide exploration priorities over the next two quarters.
Key Points
  • Statutory approvals were received for a maiden seven-hole diamond drilling program at the Jackpot Au-Cu Prospect in Newfoundland, Canada.
  • The initial drill campaign is planned for about 600m of HQ-oriented diamond core across holes ranging from 40m to 160m depth.
  • Jackpot has never previously been drill tested, making this the first drilling program at the Mountain Pond Project.
  • Historic rock chip sampling at Jackpot returned up to 23.77g/t Au and 7.48% Cu.
  • Recent confirmation rock chip results at Jackpot included 8.16g/t Au and 0.27% Cu, 4.61g/t Au and 0.65% Cu, 4.26g/t Au and 0.19% Cu, 1.77g/t Au and 1.77% Cu, and 2.65g/t Au and 1.35% Cu.
  • Access track refurbishment and drill pad preparation were scheduled to begin on 16 September 2026, with drilling to start shortly after.
  • New soil sampling results refined the Bingo Prospect gold anomaly about 400m southwest along strike from Jackpot.
  • A significant new gold anomaly was defined at the High Stakes Prospect about 800m northeast along strike from Jackpot, with a peak result of 378ppb Au.
  • Jackpot, Bingo and High Stakes define a prospective gold corridor extending at least 1.2km along the Sullivan Pond Fault trend.
  • A total of 333 soil samples, including QAQC samples, were collected as part of Reward’s regional geochemical program.
  • Follow-up rock chip sampling has been completed at Bingo and High Stakes, with assay results expected within days of the release.
  • Final ICP-34 multi-element soil assay results were still pending and are expected to help define associated base metal trends and alteration signatures.
  • The Mountain Pond Project comprises 41 contiguous claims covering about 10km2 in central northern Newfoundland near Springdale.
  • Over the next two quarters Reward plans to assess additional soil data, complete drilling at Jackpot, process core, and undertake follow-up exploration based on results.
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.