Key Highlights

• Right has begun its first drilling at the Blue Prospect near Tumbarumba.

• It is testing a tungsten and gold system that surface sampling suggests is large.

• The company listed on the ASX on 29 October 2025.

• Cash and Debt will shape how far the programme runs.

Right Resources (ASX:RRE) has begun its first drilling at the Blue Prospect near Tumbarumba in New South Wales, testing a tungsten and gold system that surface sampling suggests is large. The aircore drilling started in September 2026, funded by an A$2.94m raising, and the first assay results are expected in the December 2026 quarter.

Who the company is

Right Resources (ASX:RRE) is a mineral explorer that listed on the ASX on 29 October 2025. ASX classifies it within the Materials sector. It holds licences in southern and northern New South Wales, with Blue and the Pilot gold project the main focus areas.

The Blue Prospect sits about 22 kilometres north of Tumbarumba on exploration licence EL9028, which the company owns outright. It lies within a pine plantation, and the geology is interpreted as an intrusion-related tungsten-gold system.

What the sampling shows

Surface work has outlined a multi-element footprint of about 4.7 kilometres by 3.4 kilometres. On 4 September 2026 the company reported a rock-chip result of 5.16 grams per tonne gold, alongside elevated bismuth, and defined a priority Eastern Blue target of roughly 300 metres square.

Rock-chip samples are selective, so they may not represent the grade or continuity of mineralisation. The company stresses that no drilling had been completed on the licence, so the extent below the surface is untested.

Laboratory tests on tungsten have been encouraging. Flotation produced a concentrate grading up to 27.0 per cent tungsten trioxide at recoveries of up to 87.3 per cent, while heavy liquid separation produced concentrates up to 66.5 per cent.

The drilling and the raising

The maiden aircore drilling plans about 60 holes, with an initial stage of roughly 2,000 metres within a campaign of about 3,000 metres. It is reconnaissance only and is not designed to define a mineral resource. Approvals cover up to 120 aircore holes and 20 reverse circulation or diamond holes.

Directors invested a further A$300k, bringing board Investment to about A$1.1m.

Cash and debt

The September 2026 Quarterly Report showed cash of A$3.813m. Net operating outflow for the quarter was A$1.041m and exploration spending in investing Cash Flow was A$1.164m.

The company has secured Loan facilities of A$2.055m at 17 per cent a year, of which A$1.685m is drawn, maturing on 30 April 2027 and 30 June 2027. Its own calculation gives funding of 1.90 quarters at current spending, so further Capital or refinancing may be needed.

Explorers with no Revenue depend on capital markets, and a weak drilling outcome would make that harder. Metallurgical results from small samples do not establish commercial recovery or project economics.

Gold at Pilot and what to watch

On 27 October 2026 the company reported preliminary testwork on a 29 kilogram composite from a historic mullock dump at its Pilot project, with 89.9 per cent gold extraction at 24 hours by cyanide leaching. The company calls the result laboratory amenability data from one surface sample. The leach head grade was calculated at 0.803 grams per tonne, and the laboratory could not explain a slight fall in extraction to 88.1 per cent at 48 hours.

The historic Pilot Reef Mine reportedly produced 2,662 tonnes at 38 grams per tonne gold, and the company interprets the system as a reduced intrusion-related gold system.

Milestones include maiden Blue assays and possible second-stage drilling on EL9889 in the December quarter, a field evaluation with CODES in the same quarter, and further Pilot work. At New England in northern New South Wales, Rising Sun and Midnight Star were elevated as priority gold-copper targets. Aster rock-chip results at Blue ranged up to 4.79 grams per tonne gold.