49 Metals (ASX:49M) Confirms Scale at Gold Mountain with 171m at 0.9g/t Gold Intersection

Sonal Goyal

27 August 2026 11:42 AM AEST

49 Metals (ASX:49M) Confirms Scale at Gold Mountain with 171m at 0.9g/t Gold Intersection

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Key Highlights

Drillhole DRC#22 returned the thickest gold intersection at Gold Mountain to date, with 170.7m at 0.9g/t Au from 121.9m, including 50.3m at 1.2g/t Au.
DRC#19 extended the high-grade feeder corridor with 67.1m at 1.7g/t Au, including a narrow zone of 3.0m at 20.0g/t Au.
Shallow high-grade mineralisation was also confirmed in DRC#21 and DRC#18, with intersections of 13.7m at 2.9g/t Au and 29.0m at 1.3g/t Au respectively.
All 22 holes drilled in the approximately 7,500m maiden drill program returned gold and/or silver mineralisation.

49 Metals Limited (ASX:49M) has announced the latest assay results from its maiden RC drilling program at the Gold Mountain project, located in the Walker Lane trend of Nevada, USA. The standout result came from drillhole DRC#22, which returned the thickest gold intersection recorded at Gold Mountain to date, with 170.7 metres at 0.9 grams per tonne gold from a downhole depth of 121.9 metres, including a higher-grade internal zone of 50.3 metres at 1.2 grams per tonne gold from 207.3 metres.

The company said drilling at Gold Mountain, and the subsequent discovery of the Adit Zone, has transformed its understanding of the broader Gold Mountain system. What had previously been interpreted as a series of discrete high-grade structures is now recognised as a considerably broader mineralised system, with the Adit Zone remaining open in all directions.

High-Grade Feeder Corridor Extended

Drillhole DRC#19 extended the high-grade feeder corridor identified at Gold Mountain, intersecting 67.1 metres at 1.7 grams per tonne gold from 169.2 metres, which included a narrower, higher-grade zone of 3.0 metres at 20.0 grams per tonne gold from 189.0 metres. This result reinforces the presence of discrete higher-grade structures within the broader mineralised envelope defined by the maiden drilling program.

Additional shallow high-grade mineralisation was confirmed in two further holes. DRC#21 returned 13.7 metres at 2.9 grams per tonne gold from a shallow depth of 12.2 metres, while DRC#18 intersected 29.0 metres at 1.3 grams per tonne gold from 18.3 metres. The proximity of these intersections to surface is notable from a potential future development perspective, given the lower strip ratios typically associated with shallow mineralisation.

Maiden Program Returns Mineralisation in Every Hole

All 22 holes drilled as part of the approximately 7,500-metre maiden drill program at Gold Mountain returned gold and/or silver mineralisation, a result the company said indicates a broad mineralised system containing multiple higher-grade structures. This consistency across the full drill program provides what the company described as a solid geological framework to guide follow-up drilling.

49 Metals Chief Executive Officer Phil Carter said the results were an outstanding way to complete the maiden drilling program at Gold Mountain, noting that they had materially advanced the company's understanding of the Adit Zone. He said hole DRC#22 delivered 170 metres of continuous gold mineralisation, the thickest interval seen anywhere on the project to date, while DRC#19 returned another broad zone of mineralisation containing a high-grade core of up to 20 grams per tonne gold.

Project Remains Open with Further Targets to Test

The company emphasised that the Adit Zone represents only one prospect within the broader Gold Mountain project, where numerous other mineralised structures and prospective areas remain to be systematically tested. With the Adit Zone open in all directions, the company sees scope for further drilling to expand on the intersections already reported from the maiden program.

The combination of substantial mineralised intersections, defined high-grade structural zones, and multiple untested targets across the wider project has, according to the company, increased confidence in the potential for Gold Mountain to host a significant gold system, providing the basis for continued exploration Investment at the project.

Conclusion

49 Metals' maiden drilling results at Gold Mountain, headlined by the 170.7-metre intersection in DRC#22 and the high-grade feeder zone identified in DRC#19, indicate a mineralised system of greater scale than previously understood at the Adit Zone. With every hole in the 22-hole program returning gold and/or silver mineralisation, and the zone remaining open in all directions alongside numerous untested targets across the broader project, the results provide a geological framework that the company intends to use to guide its next phase of drilling at Gold Mountain.

FAQs

Q: What was the key drilling result from 49 Metals' Gold Mountain program?

A: Drillhole DRC#22 returned the thickest gold intersection recorded at Gold Mountain, with 170.7 metres at 0.9 grams per tonne gold, including a higher-grade zone of 50.3 metres at 1.2 grams per tonne gold.

Q: What is the Adit Zone at Gold Mountain?

A: The Adit Zone is a discovery at the Gold Mountain project that has changed the company's understanding of the deposit from a series of discrete high-grade structures to a much broader mineralised system, and it remains open in all directions.

Q: Did all drillholes in the program return mineralisation?

A: Yes, all 22 holes drilled in the approximately 7,500 metre maiden drill program returned gold and/or silver mineralisation.

Q: What was the highest-grade result reported in this drilling update?

A: Drillhole DRC#19 included a narrow zone of 3.0 metres at 20.0 grams per tonne gold within a broader intersection of 67.1 metres at 1.7 grams per tonne gold.

Q: Where is the Gold Mountain project located?

A: Gold Mountain is located in the Walker Lane trend of Nevada, USA, a region recognised for hosting significant gold and silver mineral systems.

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