Key Highlights

  • Fresh and Channel composites returned gold recoveries to flotation concentrate of 91.4% and 91.0%, with concentrate grades of 20.2 g/t Au and 84.4 g/t Au.
  • The Transitional composite returned a lower 79.5% recovery to concentrate.
  • The testwork used 196 samples weighing 302.925 kg, drawn from 53 drill holes and the Andrej Adit.
  • Cash was $6.134 million at 30 September 2026, after operating outflows of $493,000 and $1,054,000 spent on project activity.

Global Gold Mining Limited (ASX:GGM), formerly MetalsTech Limited, reported a quarter built around metallurgical results from its 100%-owned Sturec Gold Project in Central Slovakia. Flotation testwork recovered up to 91.4% of gold to concentrate, while a drilling campaign for the Pre-Feasibility Study continued. The company also completed its change of name and ASX code and made several board and management appointments during the three months to 30 September 2026.

Sturec Flotation Results by Composite

The testwork was carried out at ALS Metallurgy in Perth under the supervision of Mining One Consultants, using composites of drill core and channel samples. Head grades were 0.97 g/t Au for the Fresh composite, 1.29 g/t for Transitional and 2.89 g/t for Channel, while the Master composite assayed 1.26 g/t Au. Overall gold recovery to flotation concentrate was 91.4% for Fresh, 79.5% for Transitional and 91.0% for Channel. The Fresh and Channel concentrates graded 20.2 g/t Au and 84.4 g/t Au. The Transitional composite was partly oxidised and returned the lowest recovery.

Optimisation on the Master composite returned rougher gold recovery of 93.4% at a P80 grind of 53 microns and 88.9% at 75 microns, with later tests run at 75 microns. These rougher-stage figures are separate from recovery to final concentrate. Gravity recoverable gold tests averaged about 23% gravity recovery, and gravity-plus-flotation and flotation-only tests gave similar results, so gravity recovery was dropped from later tests. Rougher concentrate was reground to a P80 of 15 microns, and a third cleaning stage added limited upgrade, leaving two stages of cleaning in the selected flowsheet.

The arithmetic average of the Fresh and Channel recoveries is 91.2%, a figure that excludes the Transitional result and is not a deposit-wide or production-weighted recovery. The company notes that the results relate to laboratory conditions and do not represent final downstream recovery or payable metal.

Samples and Drilling Programme

The sampling programme comprised 196 samples: 184 drill core intervals from 53 holes and 12 underground channel samples from MTC-P3 and MTC-P7 in the Andrej Adit. Recorded mass totalled 302.925 kg, of which 201.595 kg was core and 101.330 kg channel material. The core included 34 intervals in the Transitional group and 150 in the Fresh group, with 77 intervals from historical AS/STOR holes and 107 from MTC UGA holes.

The initial drilling campaign at Sturec is collecting composite samples to confirm metallurgical recoveries across the resource, together with hydrogeological and geotechnical data. Samples have been sent to the ALS laboratory in Romania for assay, and geotechnical samples are going to a laboratory in the United Kingdom.

Name Change, Board and Office Updates

Shareholders approved the name change at a general meeting on 7 August 2026, and Global Gold Mining Limited began trading under ASX code GGM on 25 August. Existing holdings and the capital structure were unchanged. The same meeting passed resolutions ratifying a prior placement and approving performance rights or options for Mr Trevor Benson and Mr Chris Dai.

Mr Brett Dickson, who has more than 30 years of resources and corporate governance experience, joined as Non-Executive Director on 8 September. The board now comprises Mr Benson as Executive Chairman, Mr Zilong Dai as Executive Director, and Mr Michael McKeown, Mr Stuart Hutchin and Mr Dickson as Non-Executive Directors. Consilium Corporate Pty Ltd was engaged for company secretarial services, with Ms Ira Gibbs and Mr Damon Cox appointed Joint Company Secretaries from 2 September. Ms Ivy Jiang became Chief Financial Officer, and the registered office moved to Level 2, 22 Mount Street, Perth.

Quarter Finances at a Glance

Operating cash outflows were $493,000, covering administration, staff and expensed evaluation costs at Sturec. A further $1,054,000 was spent on site activity in Slovakia, Pre-Feasibility Study work with Mining One and metallurgical testwork. There were no financing cash flows, and payments to related parties were $157,000. Cash stood at $6.134 million on 30 September 2026.