Connected Minerals Limited (ASX:CML) Advances Bailundo Drilling as Historical Niobium Data Sharpens Exploration Plan

Aditi Sarkar

11 November 2026 02:52 PM AEDT

Connected Minerals Limited (ASX:CML) Advances Bailundo Drilling as Historical Niobium Data Sharpens Exploration Plan

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Highlights

Connected Minerals commenced a maiden drilling program at its Bailundo carbonatite project in Angola during the September quarter.
The company raised AUD 4.5 mn before costs and reported AUD 5.2 mn in cash at quarter-end.
Historical data acquired in October included ten diamond drill holes and more than 1,500 surface geochemical samples.
Management expects initial new drilling assay results in mid-November, subject to laboratory processing and reporting.

Connected Minerals Limited (ASX:CML) has moved the Bailundo carbonatite project into its first drilling program while integrating historic niobium exploration records with new fieldwork.

Drilling Moves Bailundo Into Field Testing

Connected Minerals began its maiden drilling program at the Bailundo Carbonatite Project in Angola during the September quarter. The program is testing a system being investigated for niobium and other critical minerals.

The company also completed ground geophysics to refine drill targets. Ground conditions and geological interpretation will influence the location of subsequent holes.

Historical Records Add Geological Context

After quarter-end, Connected acquired a historical exploration database comprising ten diamond drill holes totalling 3,414.4 metres, along with 1,089 soil and 458 rock-chip samples.

Historical assays included an intercept of 205.5 metres at 1.0% Nb2O5 from surface in hole SB02, including 44.1 metres at 2.2% Nb2O5 from 10.6 metres. These are historical results and require appropriate validation before use in a modern resource estimate.

Funding Supports the Current Work Program

The company completed the Acquisition of Frontier Group CRM and reported raising AUD 4.5 mn before costs. Cash and cash equivalents stood at approximately AUD 5.2 mn at 30 September 2026, with no interest-bearing Debt reported in the quarterly update.

Those figures describe the quarter-end position, not the eventual cost of the proposed wider exploration work.

Results and Resource Work Lie Ahead

Samples from the first seven new drill holes were dispatched for laboratory analysis, with initial results expected in mid-November 2026. Additional drilling and geological model integration remain planned.

Management has indicated an end-2027 target for a maiden JORC resource, dependent on drilling, data quality, geological continuity and review. This is a target rather than an established mineral resource.

Connected Minerals shares traded at AUD 0.25 on 11 November 2026, unchanged, with a Market Capitalisation of approximately AUD 36.16 mn.

FAQs

Q: Where is Bailundo?

A: Angola.

Q: What historical intercept did Connected report?

A: 205.5 m at 1.0% Nb2O5 from surface in historical hole SB02.

Q: When are initial new assays expected?

A: Mid-November 2026, subject to laboratory reporting.

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