Metal Bank Limited (ASX:MBK) has completed diamond drilling at the Homestead and Kingsley deposits within its Livingstone Gold Project in Western Australia, with the program designed to generate geotechnical data for mine planning and metallurgical samples for recovery test work, the company disclosed on 11 November 2026.

Key Points

  • Diamond drilling completed at the Homestead deposit to generate geotechnical data and metallurgical samples supporting mine planning and Mining Lease Application progress
  • An ore sample was also drilled at the Kingsley deposit to enable metallurgical test work to continue
  • Stage 2 drilling at Kingsley is planned for the first half of 2027 to increase resource definition and confirm the orebody extension to the east
  • The Livingstone Gold Project holds a global JORC 2012 Mineral Resource Estimate of 2.81Mt at 1.36g/t Au for 122.5koz Au across three proximal deposits

Homestead Deposit Drilling and Mine Planning Activities

The Homestead deposit holds a JORC 2012 resource of 1.00Mt at 1.35g/t Au for 43.4koz Au, with mineralisation extending from surface to approximately 120 metres below ground over a strike length of approximately 650 metres. The proposed mining method is a conventional open-cut, drill, blast, load and haul operation. Metal Bank stated that mine planning for Homestead is well-advanced, and activities planned or in progress include mine planning and processing studies, sterilisation drilling of potential infrastructure areas, and preparation and submission of a Mine Development and Closure Plan. The company said it is progressing these studies with a view to commencement of production at Homestead in 2027.

Kingsley Deposit Resource and Exploration Target

The Kingsley deposit is located approximately 12 kilometres from Homestead and contains an Inferred Resource of 1.68Mt at 1.35g/t Au for 73,000oz Au. The mineralised system at Kingsley extends over a strike length of approximately 1,800 metres, with the Mineral Resource Estimate covering a strike length of approximately 950 metres. A Kingsley East Exploration Target of approximately 290–400Kt at 1.8–2.0g/t Au for 16.8k to 25.7koz Au has been identified along strike of the existing resource. The filing noted that the potential quantity and grade of the Exploration Target is conceptual in nature and there is insufficient drilling information to estimate a Mineral Resource over the Exploration Target area.

Homestead and Winja Combined JORC Resources

The Homestead Mining Lease Application area encompasses both the Homestead and Winja gold deposits, which together hold combined JORC 2012 Resources of 1.129Mt at 1.36g/t Au for 49.6koz Au, comprising 73% Indicated and 27% Inferred material. The Winja deposit contributes 125Kt at 1.53g/t Au for 6.2koz Au as an Inferred Resource from near surface to approximately 85 metres below surface. The Homestead deposit is located in the central east of the Livingstone project, approximately one kilometre north of the main access road to the Mt Seabrook talc operations. The Livingstone North prospect, situated approximately one kilometre northeast of the Kingsley Mineral Resource Estimate, has returned drilling results including 4 metres at 6.26g/t Au from 21 metres.