Highlights

  • Reach Resources shares rose 15.38% on 9 February 2026 to AUD 0.015. extending one-year gains to around 50%.
  • Metallurgical testwork at the Murchison South Gold Project delivered gold recoveries of 95.2%–97.4% using gravity and cyanide leaching.
  • Ore was described as free-milling and relatively soft, with low lime and cyanide consumption reported
  • Results support assessment of toll milling or ore-purchase arrangements near the project.

Reach Resources Limited (ASX:RR1) shares surged 15.38% to AUD 0.015 on 9 February 2026, taking the company’s one-year share price gain to around 50%. Today’s price movement followed the release of metallurgical test results from the company’s Murchison South Gold Project in Western Australia.

The company reported results from initial metallurgical testwork carried out on representative ore composites from the Murchison South Gold Project. The test program was designed to assess how the mineralisation responds to conventional processing methods commonly used by nearby third-party processing plants.

According to the update, gold recoveries ranging from 95.2% to 97.4% were achieved using a gravity separation process combined with cyanide leaching. These recoveries were recorded at a grind size of P80 106 microns, meaning 80% of the processed material passed through a screen size of 106 micrometres.

Ore Characteristics and Processing Conditions in Focus

The metallurgical results indicate that the mineralisation is free-milling, meaning the gold can be extracted without complex processing. The ore was also described as relatively soft, with favourable crushing and grinding characteristics observed during testing.

Importantly, the tests were completed under conditions intended to reflect those used by nearby toll milling and ore-purchase facilities. All metallurgical work used representative site water, and no significant deleterious elements were identified during testing.

The company also reported low consumption of lime and cyanide reagents during leaching. Cyanide is commonly used in gold processing to dissolve gold from crushed ore, while lime is used to control pH levels during processing. 

Support for Toll Milling Assessment

The testwork outcomes support the potential for processing Murchison South ore through third-party toll treatment or ore-purchase arrangements located within cost-effective trucking distance of the project. Toll milling involves transporting ore to an external processing facility rather than constructing a dedicated plant on site.

Multiple composite samples were tested to reflect different stages of potential mining, including oxide, transitional, and fresh material. Results showed minimal sensitivity to grind size above P80 150 microns, suggesting consistent gold recovery across a range of processing conditions.

Ongoing Technical Studies

Reach Resources confirmed that a broader Scoping Study for the Murchison South Gold Project remains ongoing. No conclusions or outcomes from that study have been released, and none should be inferred from the metallurgical results alone.

FAQs

  1. Why did Reach Resources shares rise on 9 February 2026?

The shares moved higher after the company released metallurgical test results from the Murchison South Gold Project, reporting high gold recoveries under conventional processing conditions.

  1. What did the metallurgical testwork show?

The testwork indicated that the ore is free-milling, relatively soft, and suitable for processing using gravity separation and cyanide leaching, with gold recoveries of 95.2%–97.4%.

  1. What do the results mean for processing options?

The results support the potential assessment of third-party toll milling or ore-purchase arrangements using nearby processing facilities, with further technical studies still ongoing.