Highlights:

  • Ragusa Minerals shares were trading at AUD 0.018, up 5.88% during the afternoon Trading session on 19 August 2026.
  • The company has identified 14 priority drill targets from Induced Polarisation survey interpretation at Black Rock.
  • IP data indicates anomalous zones extending along strike from exposed massive manganese oxide mineralisation.
  • The historic Black Rock Mine contains visible manganese oxide mineralisation with potential extensions at depth and along strike.
  • Ragusa plans to progress drill planning, permitting and site preparation activities.

Ragusa Minerals Ltd (ASX:RAS) has identified new exploration targets at its Purple Pansy Manganese-Gold Project in Arizona, United States, following interpretation of Induced Polarisation (IP) survey data at the historic Black Rock Manganese Mine prospect.

Ragusa Minerals shares were trading at AUD 0.018, up 5.88% during the afternoon trading session on 19 August 2026, while the company’s shares remained down 10.00% over the past year. The latest update outlined the identification of priority drill targets and the company’s plans to advance exploration activities at Black Rock.

IP Survey Defines 14 Priority Drill Targets

Ragusa completed IP survey works at the Black Rock Manganese Mine prospect, with independent geophysical consultants interpreting the data to identify multiple anomalous trends.

The interpretation identified 14 priority drill targets, comprising nine Priority 1 targets, three Priority 2 targets and two Priority 3 targets.

The company stated that the largest anomalous trend extends along strike from the massive manganese oxide mineralisation exposed at the historic Black Rock Mine site.

Additional anomaly trends were also identified parallel to the main mineralised zone, providing further exploration targets across the prospect area.

Black Rock Prospect Shows Extension Potential

The historic Black Rock open-cut mine contains exposed massive manganese oxide mineralisation, with Ragusa assessing potential extensions both laterally and at depth.

The company stated that IP survey results have enhanced understanding of the scale potential of the prospect by identifying zones that extend beyond the currently exposed mineralisation.

The survey results are expected to guide future drilling activities aimed at testing the continuity of manganese mineralisation.

Purple Pansy Project Advances Towards Drilling

Following completion and interpretation of the IP survey, Ragusa plans to commence drill planning activities at Black Rock.

The next steps include obtaining regulatory approvals and permits, securing drill rig access and mobilising personnel required for site operations.

The company’s objective is to undertake drilling to assess manganese mineralisation and work towards establishing a maiden resource estimate at the Black Rock prospect.

U.S. Manganese Supply Opportunity

The Purple Pansy Manganese-Gold Project is located approximately 80 kilometres northwest of Phoenix in Arizona’s Aguila Mining District.

The project covers approximately 4,142 acres and includes historical gold and manganese operations within a broader district-scale mineral system.

Ragusa highlighted that the United States currently has no active manganese mining operations and remains 100% reliant on imported manganese supply.

The company noted that manganese is designated as a critical mineral in the United States due to its applications across energy storage, industrial uses and defence supply chains.

Geological Setting Supports Further Exploration

The Black Rock mineralisation occurs within structurally controlled manganese oxide systems hosted by Miocene volcanics within a broader Proterozoic granitoid setting.

The project area contains multiple NW-SE trending structures that have influenced geological formations and mineralisation distribution.

Ragusa stated that historical operations across the district included small-scale underground and open-cut workings, with some areas previously producing manganese and gold.

The company is continuing to assess historical information alongside modern geophysical data to guide exploration activities.

Exploration Strategy Focuses on Systematic Target Testing

Ragusa intends to progress exploration in a staged manner, prioritising targets based on prospectivity.

Future work will include a combination of geophysical surveys, field mapping and drilling, initially focused on extensions to known massive manganese exposures at historic open-cut workings.

The company will continue reviewing exploration data and provide updates as material developments occur.

Management Commentary on Black Rock Progress

Ragusa Chair Jerko Zuvela said the IP survey results identified multiple anomalous trends, including the largest trend extending along strike from the historic Black Rock Manganese Mine.

Mr Zuvela stated that the survey results provide greater confidence in evaluating potential manganese extensions along strike and at depth from the exposed mineralised zone.

The company continues working towards advancing the Purple Pansy Project through further exploration activities.

Investor Takeaway

Ragusa Minerals’ latest update highlights the identification of additional exploration targets at the Black Rock Manganese Mine prospect following geophysical survey interpretation.

Investors may continue monitoring drill planning, permitting progress, future drilling activities and exploration results from the Purple Pansy Manganese-Gold Project.