Highlights

  • Sinclair Gold presented the Mt Henry Gold Project's 1.8 million ounce mineral resource at the Macquarie WA Forum, highlighting that the resource has approximately doubled in the six months since Acquisition through aggressive exploration drilling.
  • The 1.8 million ounce resource is concentrated across two large, shallow deposits — Mt Henry and Selene — with more than 70 per cent classified as Measured and Indicated, supporting open-pit development potential.
  • Growth drilling is ongoing with five rigs active, targeting resource extensions beyond the current resource boundary at both Mt Henry and Selene, as well as regional prospects including Birthday Gift, Artemis, and Plutus across a 16-kilometre mineralised corridor.
  • Recent drilling has extended gold mineralisation well beyond the existing resource boundary at both deposits, with multiple holes returning meaningful gold intersections in areas not yet included in the resource estimate.

Sinclair Gold Ltd (ASX:SGC) is an ASX-listed gold exploration and development company focused on the Mt Henry Gold Project near Norseman in Western Australia, a region that sits within the broader Norseman-Wiluna Greenstone Belt — one of Australia's most historically productive gold provinces. The company presented an investor update at the Macquarie WA Forum on 5 November 2026, showcasing the Mt Henry project's current resource position, the results of ongoing growth drilling, and the exploration potential across the broader 16-kilometre corridor. Since acquiring the project in December 2025, the company has approximately doubled the size of the declared mineral resource through a sustained multi-rig drilling campaign.

The Mt Henry Resource and Its Development Characteristics

The Mt Henry Gold Project's declared Mineral Resource Estimate totals approximately 47.9 million tonnes at 1.2 grams per tonne gold for 1,792,000 ounces of contained gold, spread across the Mt Henry, Selene, North Scotia, and stockpile deposits. The Mt Henry deposit contributes approximately 885,000 ounces, and the Selene deposit contributes approximately 875,000 ounces, together forming the two anchor deposits of the project. Both deposits are characterised by shallow depth — with the majority of mineralisation within approximately 200 metres of surface — broad mineralised widths, and consistent average grades across their respective strike extents of approximately two kilometres and 1.5 kilometres.

The company highlighted several characteristics that underpin the project's development potential: more than 70 per cent of the total resource sits in the Indicated or Measured categories, providing higher geological confidence; both primary deposits have been defined within economic open-pit shells at a gold price well below the current spot price; the project is located in a tier-one Jurisdiction with established infrastructure including road access, processing facilities, and a skilled regional workforce; and both deposits remain open at depth and along strike, providing clear pathways for continued resource growth.

Growth Drilling and Regional Exploration Targets

Sinclair Gold is currently running five drilling rigs at the project, targeting extensions beyond the current resource boundary at both Mt Henry and Selene. Recent results from the Selene deposit have extended gold mineralisation approximately 75 metres beyond the resource boundary in one direction, with multiple holes returning meaningful gold intervals, and assay results remain pending for additional holes drilled outside the current resource footprint. At Mt Henry, recent drilling has extended gold mineralisation at multiple sections, with intersections beyond the existing resource boundary at a range of depths.

Beyond the two anchor deposits, the company has identified a series of regional targets across the broader 16-kilometre mineralised corridor, including the Birthday Gift, Artemis, and Plutus prospects. The Birthday Gift target, located between Mt Henry and Selene, has returned high-grade gold results from shallow historic drilling and is being progressively tested. The Artemis and Plutus targets are further along the corridor and have returned early-stage drill results that suggest additional gold mineralisation is present across the broader system. The company framed these regional targets conceptually as potential contributors to a larger connected gold system across the corridor.

Key Takeaways

Sinclair Gold's presentation of the Mt Henry Gold Project reflects the company's rapid transition from acquirer to active resource-grower within a six-month period following the December 2025 acquisition. The doubling of the declared mineral resource and the ongoing drilling across both anchor deposits and regional targets suggest that the project's ultimate scale is not yet defined. The combination of shallow, open-pittable geometry, established infrastructure proximity, and multiple drill-ready targets provides a clear framework for continued resource growth ahead of the company's planned resource update before the end of FY27. The near-term news flow from assay results across the many pending holes and the eventual resource update will be the key Investment catalysts to watch.