Highlights

  • A long-form joint venture agreement for Maranoa was executed with Rembrandt Mining, which funds 100% of capital.
  • Grade control drilling at Maranoa returned 2m at 15.84 g/t gold and 4m at 10.38 g/t gold.
  • RC drilling at Goodenough returned 9m at 3.97 g/t gold, including 1m at 25.5 g/t gold.
  • An R&D Tax Incentive refund of $428,266 was received, with cash of $734,000 at quarter end.

Resources & Energy Group Limited (ASX:REZ) has released its quarterly activities report for the period ended 30 September 2026. The update covers the execution of a joint venture agreement at Maranoa and drilling results across several deposits within the East Menzies Gold Project (EMGP) in Western Australia.

Maranoa Joint Venture with Rembrandt Mining

On 20 July 2026, REZ executed a long-form joint venture agreement with Rembrandt Mining for the Maranoa deposit. Under the arrangement, Rembrandt will arrange, fund and run development, mining and processing as contract operator, while REZ retains 100% ownership of the mining lease. REZ contributes no capital unless exploration defines an inventory of more than 300koz gold. Profits are split on a sliding scale, from 50/50 at a gold price of A$3,000 per ounce to 60/40 in REZ's favour at A$7,000 per ounce and above.

A decision has been made to process ore on site using a mobile modular mill, which Rembrandt has started procuring, with on-site vat leaching as a fallback option. Grade control drilling in July 2026 comprised nine RC holes for 614m and returned results including 2m at 15.84 g/t gold from 57m and 4m at 10.38 g/t gold from 81m. An RC rig returned to site in September for a further 1,200m to 1,500m of drilling.

Drilling Results at Goodenough and Gigante Grande

At Goodenough, a nine-hole RC program for 798m tested extensions of the existing Mineral Resource of 61,200 ounces. Hole 26GERC031 returned 9m at 3.97 g/t gold from 141m, including 1m at 25.5 g/t gold. Near-surface intercepts were also returned in the west-northwest extension, where mineralisation remains open to the south and southwest. A re-sampled historic hole returned 5m at 3.30 g/t gold, and a twin hole is planned.

At Gigante Grande, single-metre re-sampling confirmed gold in five of six RC holes drilled in February 2026. Results included 2m at 4.20 g/t gold from 152m about 1km south of the Mineral Resource, and 18m at 0.65 g/t gold from 34m on the northern edge of the resource.

Corporate Position and Next Steps

During the quarter, REZ received an R&D Tax Incentive refund of $428,266 relating to its trial vat leach program, with funds earmarked for EMGP exploration. Cash stood at $734,000 at 30 September 2026, and the company holds 33 million QMines shares valued at about $2.1 million. REZ has no debt and estimates a funding runway of about 5.4 quarters.

Next steps include continued grade control drilling at Maranoa, an updated JORC Mineral Resource estimate for Goodenough, and planning of a broader exploration program at Gigante Grande. The Annual General Meeting will be held on 10 November 2026.

Key Takeaways

  • The Maranoa joint venture provides a pathway to development without REZ contributing capital.
  • High-grade grade control results support the planned selective mining approach at Maranoa.
  • Drilling at Goodenough and Gigante Grande points to extensions beyond existing resources.
  • The R&D refund and QMines shareholding support the company's financial position.