Highlights

  • Auravelle Metals identified new drill targets at the Bimba and Myall prospects within the Nuckulla Hill Gold Project.
  • Historical drilling returned results including 24m at 1.1g/t gold from 122m at Bimba.
  • Gold anomalism at both targets extends over at least 500 metres and remains open along strike and at depth.
  • Multiple prospects within the Yarlbrinda Shear Zone are heritage cleared and ready for drilling.
  • The company plans further RC and large-scale aircore drilling programs across the project area

Auravelle Metals Ltd (ASX:AUV) has expanded its exploration target pipeline at the Nuckulla Hill Gold Project in South Australia, identifying additional drill targets at the Bimba and Myall prospects following ongoing geological review and integration of multiple datasets.

The company said the latest work combined historical drilling data, soil and calcrete geochemistry results, structural interpretation and recently completed detailed magnetic surveys, allowing several new targets to be prioritised for future testing.

Shares of Auravelle Metals were trading at AUD 0.014 during the afternoon session on 15 May 2026, down 6.67% for the day. Despite the intraday decline, the stock remains approximately 40% higher over the past year as investors continue monitoring exploration developments across the company’s South Australian gold projects.

Auravelle stated that Bimba and Myall join Sheoak and Sheoak East as part of a broader pipeline of exploration prospects within the Yarlbrinda Shear Zone, a regional structural corridor that also hosts Barton Gold Holdings’ neighbouring 1.6-million-ounce Tunkillia Gold Project.

The company’s latest update indicates that several targets are now drill-ready, while additional regional exploration programs are also being prepared.

New Targets Identified at Bimba and Myall

Auravelle confirmed that recent technical work identified further drilling opportunities at both the Bimba and Myall prospects within the Nuckulla Hill Project area.

According to the company, both prospects display significant gold anomalism supported by historical drilling intersections and broader geochemical signatures.

At Bimba, previously reported drill results included:

  • 24 metres at 1.1g/t gold from 122 metres, including 1 metre at 4.2g/t gold from 127 metres
  • 10 metres at 1.1g/t gold from 59 metres

At Myall, historical drilling returned:

  • 1 metre at 2.2g/t gold from 57 metres

Auravelle noted that gold anomalism at both prospects extends across strike lengths of at least 500 metres.

The company also stated that follow-up drilling remains limited to date, with mineralisation interpreted as remaining open both along strike and at depth.

Exploration companies often prioritise targets showing broad anomalous zones combined with limited historical testing because such areas may Warrant additional drilling to better define mineralised systems.

RC Drilling Program Preparing to Commence

The company said upcoming reverse circulation (RC) drilling will test several of the identified targets, including Bimba, Sheoak and Sheoak East.

Auravelle indicated that these prospects have already undergone heritage clearance processes, positioning them for near-term drilling activity.

Management noted that the identified targets are associated with key structural zones and broader geochemical anomalies generated through earlier exploration programs.

The upcoming RC campaign is expected to focus on:

  • Infill drilling
  • Extensional drilling
  • Testing structural targets associated with mineralisation trends

The company suggested that the latest geological interpretation work has significantly expanded its understanding of the project area and helped refine drilling priorities across the broader Nuckulla Hill corridor.

Large-Scale Aircore Program Planned

Beyond the pending RC campaign, Auravelle outlined plans for a broader regional aircore drilling initiative focused on earlier-stage targets across the project area.

The proposed aircore program will target multiple prospects identified through recent magnetic survey interpretation, structural reviews and geochemical analysis.

Among the earlier-stage targets expected to be tested are:

  • Bimba West
  • Myall
  • Sheoak North

The company said these prospects were generated through integration of newly compiled datasets and detailed aerial magnetic surveys.

Aircore drilling programs are commonly used in regional exploration to identify mineralised trends beneath shallow cover and assist in prioritising follow-up RC or diamond drilling.

Auravelle stated that the planned regional aircore campaign will cover a broader section of the approximately 40-kilometre strike extent of the Yarlbrinda Shear Zone within the Nuckulla Hill Project area.

Yarlbrinda Shear Zone Remains Exploration Focus

The Nuckulla Hill Project sits within the Yarlbrinda Shear Zone, a prospective structural corridor in South Australia’s Gawler Craton.

Auravelle highlighted that the same regional structure hosts Barton Gold Holdings’ nearby Tunkillia Gold Project, which contains a reported 1.6-million-ounce gold resource.

Structural corridors such as the Yarlbrinda Shear Zone are often considered favourable for gold mineralisation due to their potential to channel mineralising fluids over large areas.

The company’s latest exploration targeting work appears aimed at identifying additional mineralised systems across the corridor beyond currently defined prospects.

By integrating drilling data with updated geophysical interpretation and geochemical anomalies, Auravelle believes it has identified multiple compelling exploration opportunities requiring further testing.

Management Highlights Expanding Target Pipeline

Managing Director Andrew Muir stated that ongoing technical work continues generating additional targets across the Nuckulla Hill Project.

According to Muir, recently integrated datasets — including historical drilling, calcrete and soil sampling, as well as detailed magnetic surveys — have contributed to identification of a growing number of prospective targets.

He also noted that several targets associated with structural zones and geochemical anomalies remain open along strike and at depth.

Management further referenced plans for broader discovery-focused aircore drilling across multiple earlier-stage targets identified through the latest review processes.

The company’s commentary suggests that exploration efforts are increasingly shifting toward district-scale targeting across the wider project area rather than focusing solely on individual prospects.

Ongoing Exploration Activity Across Portfolio

Auravelle stated that exploration activity remains ongoing across its key gold projects in both South Australia and Western Australia.

In addition to drilling activities planned at Nuckulla Hill, the company outlined several upcoming exploration initiatives, including:

  • Additional aircore targeting updates at Nuckulla Hill
  • Infill and extensional RC drilling programs
  • Discovery-focused regional aircore drilling
  • Soil sampling activities at the Crown Gold Project near Kalgoorlie in Western Australia

The company indicated that these programs are expected to contribute to ongoing news flow across its exploration portfolio.

About Auravelle Metals

Auravelle Metals Ltd is an Australian exploration company focused primarily on gold projects located in South Australia and Western Australia.

The company’s flagship exploration focus is the Nuckulla Hill Project within the Gawler Craton of South Australia.

Auravelle is targeting value creation through exploration activities associated with gold discoveries and structural targets identified across its project portfolio.

In addition to Nuckulla Hill, the company also holds the Crown Gold Project located near Kalgoorlie in Western Australia.

Its exploration strategy involves combining geophysical interpretation, geochemical analysis and drilling programs to identify and advance prospective mineralised systems.

Investor Takeaway

Auravelle Metals’ latest update highlighted the growing scale of exploration targeting underway at the Nuckulla Hill Gold Project.

The identification of additional drill targets at Bimba and Myall, alongside planned RC and regional aircore drilling campaigns, suggests the company continues expanding its exploration focus across the Yarlbrinda Shear Zone.

Historical drilling intersections, extensive gold anomalism and multiple open mineralised trends appear to be supporting the company’s ongoing targeting strategy.

With several prospects now heritage cleared and drill-ready, investors are likely to continue monitoring upcoming drilling results and regional exploration developments across the broader Nuckulla Hill corridor.