iTech Minerals Ltd (ASX:ITM) has reported that deep reverse circulation (RC) drilling at the Sabre Prospect, part of its Reynolds Range Gold-Antimony Project in the Northern Territory, has extended the main gold-antimony shoot to approximately 270m below surface and identified a second shoot about 120m to the south. The results were released to the ASX on 6 October 2026.

The drilling and key intercepts

The second phase of RC drilling comprised 14 holes, SBRC26-007 to SBRC26-020, for 2,480m. Ten holes were angled and four steep holes tested depth extent.

Earlier drilling had traced the main shoot, known as Shoot 1, to about 100m below surface. According to the announcement, the deepest intercept in hole SBRC26-017 now ends at 276m downhole, or around 270m vertical, roughly doubling the drilled vertical extent. Shoot 1 remains open at depth.

Key Shoot 1 results include:

- SBRC26-017: 25m at 4.88 g/t gold and 0.85% antimony from 242m, including 10m at 8.50 g/t gold and 1.83% antimony from 245m, and 4m at 11.35 g/t gold and 2.35% antimony from 248m

- SBRC26-016: 28m at 3.23 g/t gold and 0.40% antimony from 192m, including 11m at 4.81 g/t gold and 0.78% antimony from 207m

The best individual metre was 14.57 g/t gold with 3.95% antimony in SBRC26-017.

The company stated that SBRC26-016 and SBRC26-017 were drilled at a low angle to the steeply dipping shoot, so downhole lengths in those holes are "substantially greater than true widths". True widths are not known for the reported intervals.

A second shoot

Holes SBRC26-008, SBRC26-009 and SBRC26-010 were drilled beneath outcrop where rock chips previously returned up to 182 g/t gold. SBRC26-008 intersected 21m at 2.04 g/t gold from 81m, including 11m at 3.13 g/t gold, while SBRC26-009 returned 6m at 2.62 g/t gold from 67m. The company said Shoot 2 has been tested to about 150m and remains open at depth, with some assays still pending.

iTech also presented gold grade shell modelling outlining two further untested zones, Shoots 3 and 4, within steep, sub-parallel bodies extending over more than 400m of strike. It cautioned that the grade shells "are not a Mineral Resource estimate or an Exploration Target."

Project context

The Reynolds Range Project comprises four granted exploration licences covering 791km2, located 90–230km north-northwest of Alice Springs, and forms part of the Stafford Gold Trend. SQM holds an option to earn 70% of the lithium rights, while iTech retains 100% of other commodities. Metallurgical testwork is under way to determine gold and antimony recoveries.

Managing Director Mike Schwarz said: "The latest results are highly significant for iTech Minerals and for our understanding of the gold-antimony potential at Reynolds Range." He added that "with 13km of highly anomalous ground to explore, there are more gold-antimony shoots to be discovered". That is management's expectation, not an established result.

Next steps

The company said the next phase of drilling "is planned to begin in mid-November and will consist of a series of deep diamond drill holes", with the first holes targeting depths of 300–400m and later phases, after the wet season, aiming beyond 500m vertical depth. Gold assays for several holes remain outstanding, results from the Falchion Prospect will be reported separately, and a drone magnetic survey is in progress.

Analysis: The results suggest mineralisation at Sabre has meaningful vertical continuity and that high-grade gold is not confined to a single shoot. However, these are exploration results only; no Mineral Resource has been estimated, true widths are unknown and metallurgical recoveries are yet to be determined. The company draws comparisons with epizonal orogenic gold-antimony systems in central Victoria, but such geological similarities do not imply comparable outcomes.