Highlights

  • Amara Minerals reported additional gold-antimony intercepts from the Trojan Prospect at the Lauriston Project in Victoria.
  • Hole AY2610 returned 6.5m at 0.86% antimony and 0.59g/t gold from 142.6m.
  • The latest intercept represents the deepest reported mineralisation at Trojan to date.
  • All six drill holes reported so far at Trojan have intersected antimony mineralisation.
  • Drilling has recommenced at the Comet Prospect to follow up earlier high-grade antimony results.Top of Form

Amara Minerals Limited (ASX:AM3) has released further drilling results from the Trojan Prospect within its Lauriston Gold and Antimony Project in Victoria, with the latest assays continuing to define gold-antimony mineralisation across the emerging system. The company reported that recent diamond drilling intersected multiple antimony and gold zones, including what it described as the deepest mineralised intercept recorded at Trojan to date.

The latest update comes as Amara Minerals shares closed flat at AUD 0.005 on 20 May 2026. The company, formerly known as Adelong Gold Limited, continues advancing exploration activities across its Victorian gold-antimony portfolio while also progressing drilling programs at several targets within the Lauriston Project.

According to the announcement, diamond hole AY2610 returned 6.5 metres grading 0.86% antimony and 0.59 grams per tonne gold from 142.6 metres. The interval included several higher-grade sections, including 0.8 metres at 3.13% antimony and 1.59g/t gold from 145.5 metres, along with 1.0 metre at 2.01% antimony and 0.95g/t gold from 148.1 metres.

The company stated that the intercept in AY2610 is significant because it represents the deepest mineralisation encountered so far at the Trojan Prospect. Management indicated that the increasing antimony tenor at depth may suggest the system strengthens below previously drilled levels, although further drilling and assays will be required to better understand continuity and scale.

Multiple Holes Continue to Return Antimony Mineralisation

Amara Minerals noted that all six drill holes reported to date from Trojan have returned antimony mineralisation, which the company believes supports the presence of a continuous mineralised system extending both along strike and at depth.

Additional drilling results released in the update included assays from holes AY2609 and AY2606.

Hole AY2609 returned 0.4 metres at 3.07% antimony and 0.27g/t gold from 120.7 metres, while another interval from the same hole delivered 1.3 metres at 0.38% antimony and 5.59g/t gold from 122.7 metres. That interval included 0.5 metres grading 0.84% antimony and 10.4g/t gold from 123.5 metres.

Meanwhile, hole AY2606 intersected 0.8 metres at 2.08% antimony and 0.51g/t gold from 109.8 metres, including a narrower interval grading 4.36% antimony from 110.3 metres.

The company stated that assays remain pending for holes AY2611 and AY2612, which could provide additional insight into the scale and continuity of the mineralised trend.

Trojan Prospect Emerging as Key Target Area

The Trojan Prospect forms part of the broader Lauriston Gold and Antimony Project in Victoria. According to Amara Minerals, drilling at Trojan has identified a west-dipping shear zone associated with elevated gold and antimony mineralisation.

The company explained that quartz zones containing elevated gold values are commonly associated with localised fault-related “pug” zones and quartz breccia infill, features it believes may be consistent with epizonal-style gold-antimony systems.

Amara Minerals also noted that the projected strike of the host structure aligns with a large antimony soil anomaly extending northward from Trojan towards the Countess Prospect. The broader anomaly extends approximately 2.2 kilometres from Trojan to Countess, although drilling to date has only tested a relatively small portion of that trend.

Management indicated that the scale of the soil anomaly and the consistency of drilling intersections continue to support further exploration work across the corridor.

Geological Comparisons Provide Context

The company stated that mineralisation observed at Lauriston shares geological characteristics with several known Victorian gold-antimony systems, including Fosterville, Costerfield and Sunday Creek.

However, Amara Minerals also clarified that these references are provided for geological context only and are not intended to imply that mineralisation at Lauriston will necessarily be comparable to those deposits.

Victoria currently hosts Australia’s only producing antimony operation at Costerfield, highlighting the strategic relevance of antimony exploration within the region.

Antimony remains listed on Australia’s Critical Minerals List and has increasingly become a focus of Supply chain discussions across Australia, the United States and Europe.

Drilling Activity Continues Across Lauriston

Amara Minerals reported that a total of 3,536.4 metres of diamond core drilling has been completed across the Comet, Yankee and Trojan prospects.

Of that total, 1,481.6 metres was drilled at Comet, while 2,054.8 metres was completed across twelve holes at Yankee and Trojan.

The company confirmed that drilling has recommenced at the Comet Prospect to follow up previously reported high-grade antimony intercepts announced in July 2025.

Earlier drilling at Comet included hole CND03, which returned 0.89 metres at 2.24% antimony and 1.26g/t gold from 177.24 metres. That result included narrower intervals grading 4.95% antimony and 10.3% antimony respectively.

Samples from drilling programs at Comet, Yankee and Trojan are also being submitted for photon assaying to test for coarse gold and assist with structural interpretation.

Yankee Prospect Still at Early Stage

The company also provided an update regarding drilling at the Yankee Prospect, located north of Trojan.

According to Amara Minerals, drilling at Yankee suggests historical Mining activity likely targeted saddle reef mineralisation associated with Bendigo-style systems. To date, drilling has mainly intersected the “legs” of the saddle structures rather than the main mineralised saddle zones.

The company indicated that approved drill collar positions have not yet been ideally located to target the interpreted saddle reef structures more directly.

As exploration at Yankee remains at an early stage, Amara Minerals stated that the true width and orientation of mineralisation are not yet fully understood.

Next Steps at Lauriston and Apollo

With the current phase of drilling at Lauriston nearing completion, the company plans to move the drill rig to its Apollo Project, subject to access availability.

At Apollo, Amara Minerals intends to undertake infill drilling to support resource estimation work while also testing regional targets.

Drilling activities at Lauriston are expected to recommence following the winter period.

Future exploration at Lauriston is expected to focus on several priorities, including testing down-dip extensions of high-grade antimony zones at Trojan, assessing continuity along the Comet Shear and conducting additional step-out drilling along the broader 4.5-kilometre Comet-Trojan corridor.

The company also plans to integrate photon assay data into its geological and structural interpretation work to refine future targeting.

About Amara Minerals

Amara Minerals is an Australian mineral exploration company focused on gold and antimony exploration projects in Victoria, alongside a lithium exploration portfolio in Brazil.

Its Lauriston Gold and Antimony Project covers approximately 28,700 hectares and is located adjacent to the Fosterville Mine region. The company believes the project remains underexplored despite encouraging drilling results and favourable geological setting.

Amara Minerals also holds the Apollo Gold and Antimony Project within Victoria’s Melbourne Zone, where mineralisation remains open along strike and at depth.

Beyond Australia, the company maintains exposure to lithium exploration through projects located in Brazil’s lithium regions, including the Borborema area and the country’s recognised “Lithium Valley”.

What This Means for Investors

The latest drilling update from Amara Minerals continues to build geological understanding at the Trojan Prospect, where all reported holes to date have intersected antimony mineralisation.

The deeper intercept reported in hole AY2610, together with elevated antimony grades and ongoing drilling activity, appears to support the company’s view that the broader mineralised system remains open and warrants further testing.

Investors are also likely to monitor pending assay results from additional holes, upcoming exploration work at Apollo and future drilling planned along the Comet-Trojan-Countess corridor as the company advances exploration across its Victorian projects.