Highlights

  • Resource Minerals International appeared on the supplied 28 October losers list, while the latest project update predates that session.
  • Wadi Salamah surface work identified gold-silver quartz veins and geochemical anomalies requiring further testing.
  • The best Target A rock-chip result was 7.93 g/t gold with 64.2 g/t silver.
  • Target C soil sampling outlined a 1.8 km by 1.2 km multi-element anomaly.
  • A maiden reverse-circulation drilling program at Target A was being planned for the December quarter of 2026.

Resource Minerals International Ltd (ASX:RMI) explores critical and precious minerals across projects in Saudi Arabia, Tanzania and Finland. Its 22 October 2026 ASX release detailed follow-up sampling at Wadi Salamah in Saudi Arabia, including gold-silver results and copper-molybdenum-related geochemical findings. Although ASX:RMI appears in the supplied list of market decliners for 28 October, the reported exploration results do not establish a cause for that trading performance.

Wadi Salamah Sampling Adds Detail, Not a Resource Estimate

The company reported 1,621 soil samples and 90 rock-chip samples across Wadi Salamah, which covers approximately 98.7 square kilometres. At Target A, 13 rock chips returned gold grades of at least 1 gram per tonne. The leading sample contained 7.93 g/t gold and 64.2 g/t silver, while other disclosed gold results included 7.50 g/t and 6.56 g/t. ASX:RMI identified two gold-silver quartz-vein zones with a combined strike extent exceeding 1.4 kilometres.

These figures relate to selective samples collected from outcrops, not representative average grades over a mineable deposit. The company explicitly cautioned that additional sampling is necessary to establish continuity between locations. No mineral resource or ore reserve is established by the October sampling release, and the results alone do not demonstrate commercial recoverability.

Target C Introduces a Separate Geological Test

At Target C, soil samples delineated a roughly 1.8 km by 1.2 km zone containing elevated combinations of copper, molybdenum, tungsten and bismuth. The company described the pattern as characteristic of certain intrusion-related mineral systems. Rock-chip tests in this area included up to 1,665 parts per million copper and 90 parts per million molybdenum. This constitutes a geochemical exploration target rather than confirmation of an economic copper deposit.

ASX:RMI also described a more isolated response at Target B, where follow-up sampling and mapping are needed.

Drilling Plans and Execution Considerations

The 22 October release stated that a maiden reverse-circulation drilling program for Target A was being planned to commence during the December 2026 quarter. ASX:RMI had previously reported a 1,010 line-kilometre ground magnetic survey in April 2026, providing another dataset for selecting targets. The forthcoming drilling is intended to test whether mineralisation extends below the sampled surface exposures. Assays, geological logging and subsequent interpretation will be necessary before conclusions can be drawn about dimensions or continuity.

Exploration timing and the scope of additional work remain execution considerations. In its July 2026 activities report, ASX:RMI also described challenges related to drilling contractor performance at its Mpanda work in Tanzania. The October release did not provide a mineral resource estimate, project economic study or production timetable for Wadi Salamah.

Key Insights

ASX:RMI has documented several surface exploration targets at Wadi Salamah, with drilling planned as the next principal test of the gold-silver findings. The reported grades are individual rock-chip results, while the Target C anomalies remain preliminary geochemical evidence. The company’s place on the supplied losers list should therefore be considered separately from the technical announcement. Confirmation of subsurface continuity, exploration timing and the scope of future programs remain unresolved.