Recharge Metals (ASX:REC) Sets Out Plans For Contracted A Maiden 30,000-Metre Drilling Program At Its Sunset Well Gold Project In Western Australia

Aditi Sarkar

29 October 2026 03:07 PM AEDT

Recharge Metals (ASX:REC) Sets Out Plans For Contracted A Maiden 30,000-Metre Drilling Program At Its Sunset Well Gold Project In Western Australia

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Sunset Well lies about eight kilometres east of Leonora and covers roughly 220 square kilometres of granted and pending tenements.
Recharge says the deposit remains open, with only three holes deeper than 100 metres vertically.
It also reports high-tenor gold anomalies from 1990s shallow drilling over at least 15 kilometres of strike.
At Brandy Hill South in the Gullewa Greenstone Belt, the company re-assayed 86 pulps from two holes using lithium-borate fusion.

Recharge Metals (ASX:REC) has reported that it awarded a drilling contract to Impact Drilling in September for the first phase of a maiden 30,000-metre program at its Sunset Well Gold Project near Leonora, Western Australia. According to the company's September 2026 quarterly report, the program comprises 20,000 metres of reverse circulation and diamond drilling to test extensions and high-grade shoots at the Prospero deposit, plus 10,000 metres of aircore drilling to begin testing the wider Prospero Trend. Recharge describes it as the first drilling in the area in 30 years. The update states reverse circulation drilling began at Sunset Well after the quarter ended.

Project Background

Sunset Well lies about eight kilometres east of Leonora and covers roughly 220 square kilometres of granted and pending tenements. The business states it is within 100 kilometres of seven operating gold processing plants.

The Prospero Gold Deposit carries a Mineral Resource Estimate of 2.87 million tonnes at 1.0 g/t gold for 94,500 ounces, based on a February 2026 announcement. Recharge says the deposit remains open, with only three holes deeper than 100 metres vertically. It also reports high-tenor gold anomalies from 1990s shallow drilling over at least 15 kilometres of strike. Those are historical results with limited follow-up, and they are not a resource.

After the quarter, Recharge completed the Ironstone Well acquisition from Golden Mile Resources (ASX:G88), which it says adds about 50 per cent to the Prospero Trend strike length. A mining licence application over Prospero has been lodged, and a five-day cultural heritage survey with the Darlot People was completed in August.

Brandy Hill South Tungsten

At Brandy Hill South in the Gullewa Greenstone Belt, the company re-assayed 86 pulps from two holes using lithium-borate fusion. It says earlier methods understated tungsten by up to 49 per cent. Reported intercepts include 11 metres at 0.33 per cent copper and 0.15 per cent tungsten trioxide, and 41.5 metres at 0.73 per cent copper and 0.08 per cent tungsten trioxide. Recharge now interprets an intrusion-related copper-tungsten-molybdenum system. These are exploration results only, and no resource has been defined there. A drone magnetic survey was completed after the quarter.

Cash And Funding

The Appendix 5B shows closing cash of A$4.53 million at 30 September 2026, down from A$5.61 million. Operating outflows were A$454,000 and investing outflows A$605,000, of which A$489,000 was exploration and evaluation. Related party payments were A$143,000 operating and A$117,000 investing, which include director fees, superannuation and consulting fees.

Recharge reports 4.8 quarters of funding at current spending. After the quarter it raised A$4.1 million before costs through a placement to existing shareholders, sophisticated investors and institutions. The company puts pro forma cash at about A$8.6 million before costs.

Risks And Conditions

The report notes that forward-looking statements are subject to exploration, regulatory, financing and commodity risks. Drilling is not certain to extend the Prospero resource, and the historical intercepts and tungsten results do not guarantee a resource. Some Sunset Well interests are registered to Golden Mile Resources with a Recharge caveat and show 0 per cent ownership in the tenement schedule.

Next Milestones

For the December 2026 quarter, Recharge lists continuing Phase 1 reverse circulation drilling at Sunset Well, submitting pulps and core for re-assay at Brandy Hill South, processing the drone magnetic data and planning aircore drilling there, then starting aircore drilling at both projects. It also plans an initial metallurgical test program at Brandy Hill South, to start in the first quarter of 2027. Competent Person for the exploration information is Luke Timmermans, under the JORC Code 2012.

FAQs

Q: What is the principal development covered in this update?

A: Recharge Metals has reported that it awarded a drilling contract to Impact Drilling in September for the first phase of a maiden 30,000-metre program at its Sunset Well Gold Project near Leonora, Western Australia. According to the company's September 2026 quarterly report, the program comprises 20,000 metres of reverse circulation and diamond drilling to test extensions and high-grade shoots at the Prospero deposit, plus 10,000 metres of aircore drilling to begin testing the wider Prospero Trend. Recharge describes it as the first drilling in the area in 30 years. The update states reverse circulation drilling began at Sunset Well after the quarter ended.

Q: What should readers watch next?

A: For the December 2026 quarter, Recharge lists continuing Phase 1 reverse circulation drilling at Sunset Well, submitting pulps and core for re-assay at Brandy Hill South, processing the drone magnetic data and planning aircore.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.