Valiant Gold Limited (ASX:VAL) has awarded an underground diamond drilling contract to K-Drill Pty Ltd for an initial 25,000m program at its 100%-owned Comet Gold Mine in Western Australia's Murchison region, with mobilisation of the rig expected by the end of Q2 FY27.

Key Points

  • K-Drill Pty Ltd appointed as underground diamond drilling contractor at the Comet Project
  • Initial program scope is approximately 25,000m targeting grade control, resource conversion and resource extension
  • Rig mobilisation to Comet Mine expected by end of Q2 FY27
  • Comet Gold Mine hosts an existing Mineral Resource Estimate of 3.77Mt at 2.51g/t Au for 304,000 ounces of gold
  • First production at Comet remains targeted for H2 FY27

Underground Drilling Contract Awarded to K-Drill

Valiant Gold has appointed K-Drill Pty Ltd as the underground diamond drilling contractor at the Comet Project. Priority grade control and resource definition drilling programs have been planned and scheduled for an initial scope of approximately 25,000m. According to the filing, mobilisation of the rig to the Comet Mine is expected by the end of Q2 FY27. The company said the appointment of the drilling contractor will enable it to expedite organic, value-generating activities aimed at increasing resource confidence, identifying opportunities for resource growth, and supporting mine life extension.

Comet Project Location and Mineral Resource

The Comet Gold Mine is located within the Murchison region of Western Australia, 14 kilometres by road from the Tuckabianna Mill and 110 kilometres from the Bluebird Mill. The filing states both mills are immediately accessible to Valiant under an ore purchase agreement with Westgold Resources. The Comet mine trend hosts an existing Mineral Resource Estimate of 3.77Mt at 2.51 grams per tonne gold for 304,000 ounces of gold. The company described this resource as providing the foundation for the restart of underground mining operations at the site.

Drilling Strategy Across Pinnacles, Comet and Comet North

Initial drilling will focus on the Pinnacles area, where grade control drilling is planned to provide geological and grade information for detailed mine planning. This will be followed by resource conversion and direct down-dip extension drilling at Pinnacles and then at the Comet area. Additional resource extension targets include the untested saddle position between Comet and Comet North, and the interpreted convergence of the Comet and Pinnacles mineralised trends. The long-term drilling strategy also involves strike extensions to the south of both the Pinnacles and Comet mineralised trends, the filing states. No development decision has been made.