Right Resources (ASX:RRE) Details Developments In Started Its First Aircore Drilling At The Blue Gold-Tungsten Project In New South Wales While Funding

Aditi Sarkar

29 October 2026 03:07 PM AEDT

Right Resources (ASX:RRE) Details Developments In Started Its First Aircore Drilling At The Blue Gold-Tungsten Project In New South Wales While Funding

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Highlights

According to the company, it is the first subsurface test of its intrusion-related gold-tungsten model.
A possible second-stage program on EL9889 is proposed later in the December quarter, subject to approvals.
The business states gold is closely associated with elevated bismuth, which it uses as a vector.
Aster is the highest-priority gold target and Moonlight the highest-priority tungsten target, and both need more drilling.

Right Resources (ASX:RRE) has reported that aircore drilling began during the September 2026 quarter at its Blue Gold and Tungsten Project near Tumbarumba in New South Wales. According to the company, it is the first subsurface test of its intrusion-related gold-tungsten model. The program is about 2,000 metres across roughly 60 holes. The company describes it as first-pass reconnaissance, not a resource estimate, intended to assess continuity, geometry and grade of mineralisation seen at the surface and to prioritise further drilling.

Project Details

Drilling is focused on exploration licence EL9028. A possible second-stage program on EL9889 is proposed later in the December quarter, subject to approvals. Surface soil and rock-chip sampling defined a tungsten-bismuth-gold anomalous system about 4.7 kilometres by 3.4 kilometres, with rock-chip gold assays reaching 5.16 grams per tonne. The business states gold is closely associated with elevated bismuth, which it uses as a vector.

Laboratory-scale metallurgical work on scheelite material produced concentrates of up to 66.5 per cent tungsten trioxide by heavy liquid separation, with recoveries up to 81.6 per cent, and up to 27.0 per cent by flotation, with recoveries up to 87.3 per cent. Right Resources calls these results preliminary.

After the quarter, the company ranked four Blue prospects: Aster, Luna, Moonlight and Nova. Aster is the highest-priority gold target and Moonlight the highest-priority tungsten target, and both need more drilling. Aster rock-chip results ranged from below detection to 4.79 grams per tonne gold, which the company says does not yet establish continuity. It also reported testwork on historical mullock dump material at its Pilot Gold Project achieving 89.9 per cent gold extraction after 24 hours.

At its 100 per cent owned New England Project, a review of historical data elevated the Rising Sun and Midnight Star targets for gold-copper, with field mapping to follow.

Cash And Funding

The Appendix 5B shows cash of A$3.813 million at 30 September 2026, compared with A$3.241 million at 1 July. Operating outflow was A$1.041 million and investing outflow A$1.211 million, including A$1.164 million of exploration. Financing inflow was A$2.823 million, with equity proceeds of A$2.966 million less costs of A$145,000.

The raising was a placement of A$2.7 million before costs at A$0.09 per share, with one free option for every two shares, plus a securities purchase plan raising A$236,000 on the same terms. Directors invested a further A$300,000. The company also has secured loan facilities with Rockford RDF at 17 per cent a year, with A$1.685 million drawn and maturities in April and June 2027.

Risks And Conditions

The report estimates 1.9 quarters of funding, based on A$4.18 million available including unused facilities against quarterly outgoings of A$2.205 million. Because that is under two quarters, the company answered additional going-concern questions. It says the board is considering further equity raising and research and development tax incentive loans, and is confident of raising funds. No further raising has been announced in the report.

Exploration spending since listing has exceeded the prospectus budget, at A$8.72 million against A$6.91 million, though the company says it is on schedule to meet its prospectus objectives. Aircore results are exploratory and may not lead to a resource.

Next Milestones

For the December quarter, the company expects maiden aircore assays from Blue, continued drilling and a decision on a possible EL9889 program. It also plans maiden metallurgy on historical waste rock at Pilot, ground magnetics processing, tungsten beneficiation work at Blue and field work at New England. Further capital raising is under consideration.

FAQs

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

A: Right Resources has reported that aircore drilling began during the September 2026 quarter at its Blue Gold and Tungsten Project near Tumbarumba in New South Wales. According to the company, it is the first subsurface test of its intrusion-related gold-tungsten model. The program is about 2,000 metres across roughly 60 holes. The company describes it as first-pass reconnaissance, not a resource estimate, intended to assess continuity, geometry and grade of mineralisation seen at the surface and to prioritise further drilling.

Q: What should readers watch next?

A: For the December quarter, the company expects maiden aircore assays from Blue, continued drilling and a decision on a possible EL9889 program.

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