Valiant Gold (ASX:VAL) Posts 6m at 5.70g/t Gold in First Five Boomerang Diamond Holes

Sonal Goyal

28 October 2026 01:11 PM AEDT

Valiant Gold (ASX:VAL) Posts 6m at 5.70g/t Gold in First Five Boomerang Diamond Holes

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Key Highlights

All five diamond holes, 26BMDD001 to 26BMDD005, returned multiple significant gold intercepts at Boomerang.
The best grades include 4.1 m at 7.93 g/t gold from 287.4 m in 26BMDD003 and 6.0 m at 5.70 g/t gold from 469.0 m in 26BMDD001.
Boomerang hosts a Mineral Resource of 5.26 Mt at 2.17 g/t gold for 367,000 oz.
Roughly half of the planned 8,000 m Phase A program is complete, with two diamond rigs operating.

Valiant Gold Limited (ASX:VAL) has released the first assay results from diamond drilling at the Boomerang gold deposit, part of its wholly owned Reedy Gold Project in Western Australia. All five holes, 26BMDD001 to 26BMDD005, returned multiple significant intercepts, with the highest grades including 4.1 m at 7.93 g/t gold from 287.4 m and 6.0 m at 5.70 g/t from 469.0 m. The holes targeted the Indicated Mineral Resource and the transition into the Inferred Resource below the historical underground workings, and the company says the lodes were intersected broadly where expected.

Intercepts Across the Five Holes

Hole 26BMDD001, drilled to 649.2 m, returned 6.0 m at 5.70 g/t gold from 469.0 m. Hole 26BMDD002, drilled to 642.5 m, recorded 6.8 m at 4.35 g/t from 423.5 m, including 4.0 m at 6.40 g/t, plus 12.7 m at 1.48 g/t from 466.0 m and 5.3 m at 3.19 g/t from 498.0 m.

Hole 26BMDD003, drilled to 492.3 m, produced two of the headline results: 4.1 m at 7.93 g/t from 287.4 m and 3.6 m at 6.36 g/t from 407.8 m, which includes 1.2 m at 12.51 g/t. Hole 26BMDD004, drilled to 436.1 m, returned 6.0 m at 5.01 g/t from 346.0 m.

Hole 26BMDD005, drilled to 462.0 m, intersected three zones in sequence: 9.3 m at 3.05 g/t from 333.6 m, including 0.3 m at 52.90 g/t; 8.0 m at 2.99 g/t from 363.4 m, including 0.9 m at 21.20 g/t; and 7.1 m at 3.18 g/t from 389.0 m, including 0.5 m at 29.20 g/t. All figures are downhole widths, reported at a 0.5 g/t gold cut-off with up to 2 m of internal dilution, and true widths have not yet been determined.

The Boomerang Deposit and Its Resource

Boomerang sits at the northern end of the Reedy Project, about 45 km by road from Westgold's Bluebird Mill and roughly 80 km by road from Meekatharra. It holds a Mineral Resource of 5.26 Mt at 2.17 g/t gold for 367,000 oz across three historical open pits spanning about 1.25 km of strike and one underground mine. The deposit lies on granted mining leases held 100% by Valiant.

Mineralisation is shear-hosted and developed as quartz-carbonate-pyrite vein breccias, concentrated along the hanging-wall and footwall contacts of a central serpentinised ultramafic unit. The company interprets multiple stacked, steeply west-dipping lodes. Mineralisation is described as open at depth and along strike, particularly north of the underground workings and beneath the historical Kurara pits, where drilling below 150 m is limited over 600 m of strike.

Program Scale and Company Context

The maiden Phase A program is planned at about 8,000 m of diamond drilling, designed to lift geological confidence in the existing resource and to inform an assessment of a possible accelerated open-pit development and later underground scenarios. About half of the planned metres are complete. Remaining drilling is set to concentrate beneath the northern extent of the Kurara Pit and in the saddle area of the Boomerang Pit, both targeting Inferred resource.

Valiant was demerged from Westgold Resources and listed in March 2026. It holds the Comet and Reedy gold projects with a combined Mineral Resource of 1.2 Moz at 2.4 g/t gold, and an ore purchase agreement with Westgold secures processing capacity at the Tuckabianna and Bluebird mills. Managing Director Brendan Tritton said the results align with the existing geological interpretation. No development decision has been made for Boomerang.

What the First Boomerang Assays Establish

The first five holes returned a combined set of intercepts that fall within the footprint of the existing 367,000 oz resource, with narrow high-grade sections reaching 52.90 g/t. Drilling continues with further assays pending.

FAQs

Q: What were the best intercepts in Valiant's first Boomerang results?

A: The highest-grade results were 4.1 m at 7.93 g/t gold from 287.4 m in 26BMDD003 and 6.0 m at 5.70 g/t from 469.0 m in 26BMDD001. Narrow zones within 26BMDD005 reached 52.90 g/t over 0.3 m.

Q: How large is the Boomerang Mineral Resource?

A: Boomerang holds 5.26 Mt at 2.17 g/t gold for 367,000 oz across Indicated and Inferred categories.

Q: How much of the Phase A drilling program is complete?

A: About half of the planned 8,000 m of diamond drilling is complete, with two rigs operating.

Q: Where is Boomerang located?

A: It lies at the northern end of the Reedy Project in Western Australia, about 45 km by road from Westgold's Bluebird Mill and roughly 80 km by road from Meekatharra.

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