Why MB Gold (ASX:MBG) has reported a 12 metre gold intercept at the Razorback Prospect in Western Australia's Marble Bar project

Sonal Goyal

28 October 2026 04:40 PM AEDT

Why MB Gold (ASX:MBG) has reported a 12 metre gold intercept at the Razorback Prospect in Western Australia's Marble Bar project

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Key Highlights

Hole 26MBRC070 returned 12 metres at 3.85 g/t gold from 50 metres, including 1 metre at 30.03 g/t, described as the best gram-metre intercept at the project.
Assays for 14 remaining holes of the 20-hole Razorback program were received; three holes returned no significant intercepts.
A 2,000 metre diamond drilling program is scheduled to begin in November, with results expected in the first quarter of 2027.

Highest gram-metre intercept at the project

MB Gold (ASX:MBG) announced on 28 October 2026 that assays have been received for all 14 remaining holes of a 20-hole reverse circulation program at the Razorback Prospect, drilled in September. The full Phase 2 program totalled 4,308 metres across the Twin Veins and Razorback areas. The company said hole 26MBRC070 returned 12 metres at 3.85 grams per tonne gold from 50 metres, including 1 metre at 30.03 g/t from 57 metres, and described it as the highest gram-metre intercept at the project.

The company said the 30 g/t single-metre result supports the potential for a high-grade resource, but no Mineral Resource has been declared. Mineralisation remains open along strike and at depth and is a focus for extensional drilling in 2027.

Other results from the final holes

Intercepts were reported using a 0.3 g/t gold cut-off with up to 2 metres of internal dilution. Other results included 5 metres at 1.13 g/t from 86 metres in 26MBRC071, 3 metres at 1.95 g/t from 68 metres in 26MBRC076, 2 metres at 2.70 g/t from 36 metres in 26MBRC077 and 2 metres at 2.13 g/t from 20 metres in 26MBRC078. Hole 26MBRC081 returned 1 metre at 2.37 g/t from 118 metres. Several lower-grade intercepts were also reported, and holes 26MBRC069, 072 and 074 returned no significant intercepts. One result, 4 metres at 0.48 g/t in 26MBRC075, was a four-metre composite sample.

Earlier Razorback results

The announcement restated previously reported Razorback intersections. These included 9 metres at 4.03 g/t from 60 metres in 26MBRC066, including 3 metres at 10 g/t, and 8 metres at 2.50 g/t from 64 metres in 26MBRC068, including 1 metre at 14.01 g/t. Hole 26MBRC064 returned 7 metres at 2.94 g/t from 9 metres and 4 metres at 3.65 g/t from 24 metres. At Twin Veins, earlier results included 7 metres at 2.52 g/t from 67 metres in 26MBRC052.

Technical details

Drilling was carried out by JDC Drilling using a Hydco 250 rig. Samples were cone split at one-metre intervals, with four-metre composites in some cases, and assayed by Jinning Testing and Inspection Laboratory in Perth using 50 gram fire assay with an atomic absorption finish. The company estimated recovery above 90 per cent through mineralised zones. The mineralised zones dip steeply to the north at 70 to 80 degrees and strike east-south-east to west-north-west at Razorback. True widths have not yet been determined, so all intercepts are downhole lengths. The information was prepared by exploration manager Charles Gillman, a Competent Person under the JORC Code 2012.

Next steps

A 2,000 metre diamond drilling program is scheduled to begin in November. It will target chargeable anomalies identified by a dipole-dipole induced polarisation survey at Murphy Well and Twin Veins, and include holes at Twin Veins and Razorback to gather structural data and metallurgical samples. Core processing is expected to run through December and January, with results expected in the first quarter of 2027. The company said planning continues for further reverse circulation drilling at Razorback in 2027, after the summer heat and rain period.

Summary of the program

Of the 20 holes in the Razorback program, six had been reported earlier and 14 are covered by this announcement. Three of the 14 returned no significant intercepts, while the rest returned at least one intercept above the cut-off. The company said a table of collar and survey data for all reported and pending holes accompanies the announcement, along with four figures showing Razorback in plan and section and a project overview map. The announcement was approved by the board, with chief executive Logan Barber and Michael Cairnduff named as contacts.

Context and caveats

Drilling results are not a resource estimate, and the announcement includes the usual forward-looking statements disclaimer. The company has not yet reported metallurgical results or any resource estimate for Razorback, and the 2027 program remains in planning.

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