Highlights

  • A 569km² airborne magnetic survey was completed at Bunda Creek in the Northern Territory.
  • Soil sampling at Jerrys Bore identified three priority gold targets linked to faults.
  • Negotiations continue on a Heritage Protection Agreement at Gidgee North.
  • Cash stood at $1.51 million at 30 September 2026.

Westar Resources Limited (ASX:WSR) has released its quarterly activities report for the period ended 30 September 2026. The company advanced copper exploration in the Northern Territory and gold exploration in Western Australia, while continuing its search for a more advanced project.

Bunda Creek Magnetic Survey

Westar completed an airborne magnetic survey covering 569km² at its 100%-owned Bunda Creek project in the Birrindudu Basin. The survey was co-funded under the Northern Territory Government's Geophysics and Drilling Collaborations program, and results are being interpreted.

Studies by the NT Geological Survey, CSIRO and Geoscience Australia point to copper prospectivity in the basin. 3D inversion modelling of earlier magnetic data identified steep gradients, including at least one that does not match any mapped feature. An adjoining licence application was lodged in March 2026.

Jerrys Bore Gold Targets

At Jerrys Bore, located about 165km north of Laverton, assays from 1,167 UltraFine+ soil samples identified three priority gold targets linked to faults seen in airborne magnetic data. The targets are associated with pathfinder elements including arsenic, bismuth, molybdenum and tellurium, with each trend extending over about 2km.

A fourth target shows pathfinder anomalism without gold and may represent a fluid pathway. Planning is underway to test the targets.

Gidgee North and Corporate Update

At Gidgee North, negotiations continue on a Heritage Protection Agreement to allow air core drilling at the Mageye anomaly, where earlier RC holes returned elevated molybdenum, bismuth and tungsten. Westar also holds a 25% free-carried interest in the Mt Finnerty joint venture with Forrestania Resources.

Cash stood at $1.51 million at 30 September 2026, with an estimated funding runway of about 4.5 quarters. The company reviewed several gold and copper projects during the quarter but none met its key criteria. Westar stated that "the search will continue in the current quarter for the right project to transform the Company from explorer to developer."

Key Takeaways

  • The Bunda Creek magnetic survey supports copper targeting in an underexplored basin.
  • Soil sampling at Jerrys Bore has defined three priority gold targets.
  • Heritage negotiations are a key step before drilling at Gidgee North.
  • Westar continues to look for an advanced project to move from explorer to developer.