Highlights

  • Final results covered 137 aircore holes and 2,210 metres of samples.
  • The batch averaged 4.27% heavy minerals without a cut-off.
  • The existing resource is 529 Mt at 4.5% heavy minerals.
  • Sampled intervals are downhole measurements, not established true widths.
  • Resource modelling and metallurgical work are the next technical steps.

McLaren Minerals Limited (ASX:MML) has received the final assays from its 2026 aircore drilling programme at the McLaren titanium project in Western Australia, and says work on an updated mineral resource estimate is under way. The company reported the results to the ASX on 4 November 2026.

The final batch covers 137 holes for 2,210m of one-metre samples. Across the batch, the length-weighted average was 4.27% heavy minerals, with no cut-off applied. Of the 137 holes, 69 averaged at least 4% heavy minerals, 34 averaged at least 5% and nine averaged at least 6%. Sampled intervals were at least 15m in 92 holes and at least 21m in 53. Samples were collected at one-metre intervals using a cone splitter, and collar positions, spaced 150m apart, remain subject to final survey validation. (ASX:MML)

Forty of the holes were drilled on two closely spaced grids to support variography, the statistical analysis used to understand how grade varies over short distances. All 20 holes in the southern grid averaged at least 5.40% heavy minerals over 21m to 24m from surface. (ASX:MML)

Among the best results, MAC773 returned 21m at 6.35% heavy minerals from surface, MAC713 returned 21m at 6.32% and MAC716 returned 21m at 6.28%. MAC719 returned 24m at 6.13%, including a one-metre maximum of 11.71% from 17m to 18m. Some shallower holes recorded higher averages over shorter intervals: MAC650 returned 9m at 9.32% from surface and MAC649 returned 6m at 8.49% from surface. The highest single one-metre assay was 14.15% heavy minerals in MAC670, from 11m to 12m.

Resource Boundaries and Project Setting

The company said mineralisation extends to the south-west outside the current inferred resource and remains open to the south. Holes MAC771 and MAC767, at the southern limit of this year's grid, returned 17m at 4.76% and 16m at 4.71% heavy minerals respectively. Managing director Simon Finnis said "the Resource remains open to the southwest".

The existing resource, reported at a 2% heavy mineral cut-off with slimes below 38%, totals 529Mt at 4.5% heavy minerals for 23.7Mt of contained heavy minerals. That comprises 249Mt at 4.7% in the indicated category and 280Mt at 4.2% inferred. Ilmenite makes up 28.7% of the heavy mineral assemblage, with rutile at 0.7%, leucoxene at 1.8% and zircon at 0.5%. Inferred resources carry lower geological confidence than indicated material.

The wholly owned project sits on two exploration licences, E 69/2388 and E 69/2386, in the western Eucla Basin. It is a marine placer deposit, in which heavy minerals were concentrated by ancient shoreline processes. McLaren has also agreed to acquire the zircon-rich Barossa project in the eastern Eucla Basin in South Australia.

Technical Work Before Development

Next steps include completing assay validation, incorporating the 2026 data into the geological model, finalising the resource update and reporting results from current metallurgical testwork. McLaren said its broader work is directed towards ore reserve estimation and a bankable feasibility study. No ore reserve has yet been declared, and no offtake or processing arrangements were mentioned in the announcement. Results from this drilling do not by themselves establish that the resource will grow or be upgraded.

Key Insights

The final 2026 assays add drill coverage for McLaren Minerals (ASX:MML) as resource estimation progresses. Mineralisation beyond the existing estimate remains to be assessed, while ore reserve estimation and feasibility work require further technical evidence.