Key Highlights

  • Tambourah Metals shares were up 79.31% at $0.052 at 11:55 am during the 22 October 2026 session, while the S&P/ASX 200 was down 0.64%.
  • An announcement dated 22 October 2026 reported 4 m at 41.7 g/t Au from 55 m, including 1 m at 146.5 g/t Au, at Baxters Sth.
  • A primary intersection of 3 m at 35.5 g/t Au from 169 m in fresh rock was also reported, with aircore and diamond results pending.

During the trading session on 22 October 2026, shares in Tambourah Metals Ltd (ASX:TMB) were up 79.31% at $0.052 at 11:55 am. In the same session the S&P/ASX 200 stood at 8,774.90, down 0.64% (56.40 points), while the All Ordinaries stood at 8,897.80, down 0.66%. Tambourah is a Western Australian exploration company with gold and critical-mineral projects, and on 22 October 2026 it reported drilling results from the Bryah Gold Project in the Murchison region.

About the Company

Tambourah Metals Ltd is a Western Australian exploration company established in 2020 to advance gold and critical-mineral projects. It trades on the ASX under the code TMB, with its registered address at Level 2, 10 Ord Street, West Perth. Rita Brooks is Executive Chairperson.

Since listing, it has expanded through positions in established mineral districts in the Pilbara and Bryah regions.

Business Overview

Tambourah is exploring for gold and critical minerals at its Tambourah, Shaw River and Speewah Nth projects, and for gold at the Bryah Project in the Murchison region. The announcement concerned the Baxters Sth and Beatty Park Sth prospects, both part of the Bryah Gold Project.

Baxters Sth lies 4.3 kilometres south of the Harmony gold mine and was drilled beneath historic intersections in sediments of the Ravelstone Formation. Beatty Park Sth targets structural and alteration features in ultramafic rocks of the Narracoota Formation.

High-Grade Supergene Gold at Baxters Sth

In its announcement dated 22 October 2026, Tambourah reported results from an initial two-hole RC program at Baxters Sth, testing beneath a 1997 historic intersection of 8 m at 5.05 g/t Au from 67 m. Hole BXRC26002 returned 4 m at 41.7 g/t Au from 55 m, including 1 m at 146.5 g/t Au from 55 m. Hole BXRC26001 returned 6 m at 9.5 g/t Au from 64 m, including 1 m at 16.3 g/t Au and 1 m at 29.8 g/t Au.

The company attributed this supergene gold to the redox zone in overlying clays at depths of 50 to 70 m. It said the lateral extent and continuity of the supergene mineralisation remain insufficiently defined.

Primary Gold in Fresh Rock

BXRC26001 also intersected 3 m at 35.5 g/t Au from 169 m, including 1 m at 73.2 g/t Au from 171 m, in fresh rock characterised by silicification and trace fine-grained sulphides in shale. The company described the primary gold as a new discovery with orientation yet to be determined.

Tambourah drilled approximately at right angles to the historic holes because those holes indicated poor continuity, and to test northeast-trending structures that control mineralisation at Harmony. Magnetic imagery indicates Baxters Sth overlies folded Narracoota Formation plunging beneath the Ravelstone Formation. BXRC26001 was oriented to intersect those structures, whereas BXRC26002 was drilled sub-parallel to their dip.

Beatty Park Sth Drilling

At Beatty Park Sth, five RC holes tested low-level aircore gold anomalies, magnetic structural discontinuities and intense silicification. The best result was 4 m at 2.29 g/t Au from surface in BPRC26002, with the remaining holes reporting no significant intersections. Two holes, BPRD26006 and BPRD26007, were terminated early because of water inflows and extended with diamond tails.

The company said recently completed co-funded diamond drilling intersected altered ultramafic rocks with ductile structures dipping steeply to the northwest, as anticipated. Core is being transported to Perth for detailed logging and sampling.

Related Sector Context

Gold exploration in Western Australia's Murchison and Bryah regions typically moves from soil and aircore sampling to RC and diamond drilling, with assays and structural interpretation guiding each stage.

At 11:55 am on 22 October 2026 the S&P/ASX 200 and All Ordinaries were both lower, while Tambourah was trading higher.

Risks to Weigh In

Tambourah states that the lateral extent and continuity of the Baxters Sth supergene mineralisation are insufficiently defined, and that the structural control and orientation of the primary intersection are not yet well understood. One 1 m sample in BXRC26001 was still pending. Results come from two holes at Baxters Sth.

Beatty Park Sth RC drilling returned limited anomalous gold, and diamond core still needs to be logged and sampled. Drilling at Baxters Sth is exploration-stage work reported through reverse circulation holes.

Catalysts on Watch

The company listed upcoming news flow including aircore results from the T2 (Beatty Park Sth) and West Harmony (Baxters) targets, results of the Beatty Park Sth diamond drilling program, and planning for aircore drilling targeting supergene gold at Baxters Sth. Follow-up work at Baxters Sth also includes microscopic examination of the primary mineralisation, modelling of magnetic data to estimate the depth to the Narracoota Formation.

Putting It Together

Tambourah shares rose sharply during the 22 October 2026 session while the benchmarks were lower. The announcement dated that day reports high-grade intersections from a seven-hole RC program, with continuity, orientation and several pending results still to be established.