Key Highlights

  • Geological mapping and surface sampling at the first target area of the Alma project are complete, with laboratory assays not yet received.
  • Three target areas have been identified, with Area A prioritised for gold and Areas B and C planned for a second phase.
  • The company withdrew Resolution 4, a placement share approval, from its 29 October 2026 annual general meeting.

Golden Globe Resources Ltd (ASX:GGR) said on 28 October 2026 that field exploration has begun at its Alma Project, held under exploration permit EPM27722 in the Mount Morgan copper-gold district of Central Queensland. Geological mapping and surface sampling at the first target area are complete, the company said, but laboratory assays have not yet been received.

Where Alma sits

According to the company, Alma lies about 15 kilometres south of the historic Mount Morgan mine. Golden Globe cited its October 2025 prospectus and independent geologist's report in saying that mine produced roughly 9 million ounces of gold and 427,000 tonnes of copper between 1882 and 1990. Proximity to a past producer is context rather than a resource at Alma, and the announcement does not report any JORC-compliant resource or reserve for the project.

Three target areas

The company has identified three target areas, labelled A, B and C, which it described as anomalous for gold, copper or both. Area A is anomalous for gold, Area B for gold and copper, and Area C for copper. Golden Globe said it prioritised Area A because of access and the established gold anomalies there. Areas B and C are planned for a second phase of work.

The announcement also refers to a potential five-kilometre copper-gold anomaly outlined from historical stream-sediment sampling, with copper above 150 parts per million. In addition, four historic prospects were reported to have returned gold of up to 0.8 grams per tonne and copper grades of between 1.35 per cent and 9.1 per cent. The company said these prospects appear to have received little or no follow-up. These are historical results drawn from earlier work and should not be read as confirmation of mineralisation of that tenor today.

The release included photographs of rock samples from the North Plateau and Boogargan North West areas, described as tuff, porphyry andesite with pyrite, skarn-like alteration and silicified volcanic rock with trace sulphides. The company noted that visual descriptions are not a substitute for laboratory analysis.

The exploration pathway

Golden Globe set out a staged roadmap. Historical data compilation and initial field mapping and sampling are listed as completed, while laboratory assays are in progress. The next steps it listed are ranking targets and refining the geological model, running geophysical surveys if warranted, generating and prioritising drill targets, and then beginning initial reverse circulation drilling. No drilling date or budget was given, and each step depends on what the assays show.

Other projects and the coming months

Over the coming months the company said it expects to interpret the Area A assays and plan a second phase of surface sampling and mapping. It also intends to refine targets at Alma and the nearby Burns Spur prospect, including detailed mapping and rock-chip sampling at Burns Spur, where it wants to evaluate a possible broader copper-gold-molybdenum system. At Dooloo Creek, the company plans to build drill sites for a second phase of drilling. Separately, at its Neila Creek project in New South Wales, it plans geophysics where warranted and to advance drill targets, subject to landholder access approval.

Managing Director Colin McMillan described Alma as one of the company's grassroots exploration opportunities, noting that modern exploration has been limited across much of the tenure.

Annual meeting change

Separately, on 27 October 2026 the company withdrew Resolution 4 from its annual general meeting, scheduled for 29 October 2026. That resolution had sought shareholder approval to issue placement shares. Golden Globe said any votes already lodged on the resolution would be disregarded and that shareholders need take no further action. The notice did not give a reason for the withdrawal.

What to watch

The key near-term item is the Area A assay results, which will determine whether the gold anomalies are followed up with a second sampling phase.