Highlights

• Westar Resources has released its quarterly report for the three months to 30 September 2026.

• At Bunda Creek in the Northern Territory, Westar completed an airborne magnetic survey over 569 square kilometres during.

• At Jerrys Bore, about 165 kilometres north of Laverton, Westar collected 1,167 auger soil samples in 2026 and.

• At Gidgee North in the Murchison, earlier reverse circulation drilling returned strongly anomalous molybdenum, bismuth and tungsten but.

Westar Resources (ASX:WSR) — has released its quarterly report for the three months to 30 September 2026. The company is exploring for gold and copper in Western Australia and the Northern Territory, and says it is also searching for an advanced project that would move it from explorer toward developer. No drilling was reported during the quarter.

Bunda Creek copper project

At Bunda Creek in the Northern Territory, Westar completed an airborne magnetic survey over 569 square kilometres during the quarter. The company says the high-resolution data is now being interpreted to refine targets. Exploration licence EL34118 was granted in January 2026, and an adjoining application, ELA34358, remains pending. Westar says the applications followed 3D inversion modelling of public magnetic data that showed steep magnetic gradients, at least one without a mapped feature. The work is co-funded through the Northern Territory Government's Geophysics and Drilling Collaborations Program.

Jerrys Bore gold project

At Jerrys Bore, about 165 kilometres north of Laverton, Westar collected 1,167 auger soil samples in 2026 and announced results on 10 September 2026. The licence covers part of the poorly exposed Deleta greenstone belt and more than 20 kilometres of the De La Poer Fault, with much of the ground under sand cover.

The company reports four targets. T1, in the north, shows low-level gold with arsenic, bismuth, molybdenum, antimony and tellurium over about two kilometres. T2 and T3, in the south, each show anomalism over more than two kilometres. T4 is defined by elevated arsenic, bismuth and tellurium rather than by gold. Westar says it is planning how to test these soil targets, but no drilling date or budget was disclosed.

Gidgee North and Mt Finnerty

At Gidgee North in the Murchison, earlier reverse circulation drilling returned strongly anomalous molybdenum, bismuth and tungsten but no gold. Westar plans an air core program at the Mageye anomaly, but first needs to finalise a Heritage Protection Agreement with the relevant Aboriginal corporation, which is still being negotiated, and then complete a heritage survey.

At Mt Finnerty, a joint venture with Forrestania Resources , Westar holds 25 per cent free-carried until a decision to mine. No activity was reported this quarter.

Corporate search

Westar says it assessed several gold and copper projects in Australia, Canada and the United States during the quarter, but none met its key criteria. The search will continue into the December quarter. No tenements were acquired or disposed of during the period.

Cash position

According to the Appendix 5B, opening cash was A$1.847 million. Net operating outflow was A$123,000 and capitalised exploration spending in investing activities was A$212,000, with no financing inflows. Closing cash was A$1.512 million, made up of A$512,000 in bank balances and A$1.0 million on call deposit.

Payments to directors and their associates were A$37,000. It reports no debt facilities. It states that the current outflow of about A$335,000 a quarter implies roughly 4.5 quarters of cash, which is the company's arithmetic and not a forecast.

Risks and next milestones

The projects are at an early stage and the quarter produced no new drilling or resource estimates. The Jerrys Bore targets are geochemical interpretations, the Gidgee North program depends on a heritage agreement still being negotiated, and any acquisition remains unidentified.

The company lists its next steps as interpreting the Bunda Creek magnetic data, planning follow-up testing of the four Jerrys Bore targets, finalising the Heritage Protection Agreement at Gidgee North before drilling, and continuing to assess gold and copper projects to acquire or joint venture. The report gives no dated drilling schedule or quarterly budget.