What Hamelin Gold's (ASX:HMG) Phase 2 Drill Results Reveal About the Day Dawn Gold System's Scale

Sonal Goyal

03 November 2026 11:57 PM AEDT

What Hamelin Gold's (ASX:HMG) Phase 2 Drill Results Reveal About the Day Dawn Gold System's Scale

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Key Highlights

Phase 2 RC drilling at the Altus Lode returned 2m at 101.5g/t Au from 24m within 11m at 20.2g/t Au from 17m in hole PDR0049, and 5m at 25.1g/t Au from 19m in PDR0059
Near-surface extension of the high-grade Upper Aurora Lode returned 3m at 9.3g/t Au from 6m in PDR0034, with mineralisation extending up plunge from previously defined zones
Down-plunge drilling extended the Aurora Lodes at depth with 7m at 5.6g/t Au from 147m in PDR0045, with the system remaining open at depth
A maiden 1,500-metre diamond drilling program has commenced with holes targeting down-plunge extensions of the Aurora Lodes, with assay results for 13 remaining Phase 2 RC holes expected in November 2026

Hamelin Gold Limited (ASX:HMG) has released the first 22 assay results from its 35-hole Phase 2 reverse circulation drill program at the Day Dawn gold project, 10 kilometres northwest of the Telfer gold-copper mine in Western Australia's Paterson Province. The results reinforce the high-grade character of the Day Dawn system and extend mineralisation both at the surface and at depth across two structurally distinct lode systems — Aurora and Altus.

The headline result from Phase 2 comes from hole PDR0049 at the Altus Lode, which intersected 2 metres at 101.5 grams per tonne gold from 24 metres, sitting within a broader 11-metre zone grading 20.2g/t gold from 17 metres. A companion hole, PDR0059, returned 5 metres at 25.1g/t gold from 19 metres in the same lode. These near-surface, high-grade results at the Altus Lode mark a meaningful expansion of a corridor that Hamelin is treating as potentially the upper expression of a much larger, depth-extensive gold system.

Aurora Lodes Extended in Multiple Directions

The Aurora Lodes — the primary focus of Hamelin's Phase 1 and Phase 2 programs — were extended in two directions during the current campaign. Near-surface drilling up plunge from existing holes returned 3m at 9.3g/t gold from just 6 metres depth in hole PDR0034, confirming the Upper Aurora Lode continues toward surface in a direction not previously drilled. The shallow, high-grade nature of this extension has positive implications for open-pit or shallow underground scenarios.

At the other end of the structural corridor, down-plunge drilling extended the Aurora Lodes at depth with PDR0045 returning 7m at 5.6g/t gold from 147 metres. The system remains open at depth, which is a key Factor underpinning the decision to commence a maiden diamond drilling program focused on testing how far the Aurora structure extends along plunge.

Initial testing for parallel lode positions adjacent to the Aurora and Altus corridor also returned encouraging early results, with 1m at 11.42g/t gold from 35 metres in PDR0038 and 1m at 11.33g/t gold from 54 metres in PDR0039. These narrow but high-grade intervals indicate the mineralised system may have broader structural complexity than the two primary lodes currently define.

Maiden Diamond Program Launched

The commencement of a maiden 1,500-metre diamond drilling program at Day Dawn represents a step up in exploration methodology. Diamond drilling provides oriented core, enabling structural analysis and more precise modelling of lode orientations — critical information for defining the geometry of the Aurora system at depth and designing efficient future resource drilling. The primary targets for the diamond holes are the down-plunge extensions of the Aurora Lodes, where Phase 2 RC results suggest the system continues well beyond current definition.

Results for the remaining 13 Phase 2 RC holes are expected in November 2026, ensuring a continued flow of data as the diamond program gets underway.

Geological Context at Day Dawn

Day Dawn covers approximately 20 square kilometres and lies within Hamelin's broader Paterson Province exploration position. The proximity to the Telfer mine — a greater than 20-million-ounce gold-copper deposit — provides context for the mineral system potential of the region. Drilling at Day Dawn has confirmed high-grade gold mineralisation extending from surface, a characteristic shared with many of the world's most significant orogenic gold deposits. Managing Director Peter Bewick has described the Aurora and Altus lodes as potentially representing the upper levels of a much larger, depth-extensive system.

Sector Context

The Paterson Province has attracted significant Capital and attention from ASX-listed gold explorers through the mid-2020s. The combination of significant scale at Telfer and more recent exploration activity by multiple companies has reinforced the geological prospectivity of the corridor. Hamelin's Day Dawn project, at 10 kilometres from Telfer, sits within one of the more active sub-regions of the province.

Risks

Day Dawn remains at the exploration stage with no Mineral Resource Estimate published. The high-grade intercepts at Altus and Aurora are compelling in isolation but continuity and down-plunge persistence remain to be fully defined. The maiden diamond program will take time to produce results, and additional capital will be required to advance the project. The Paterson Province's remote location adds to operational costs.

What to Watch Next

The November 2026 release of the remaining 13 Phase 2 RC assay results will complete the Phase 2 dataset and may add further definition to the lode system. Results from the maiden diamond drilling program will be a key catalyst for refining the depth model of the Aurora Lodes. Any announcement of a Mineral Resource Estimate process would represent a significant step in formalising the scale of the Day Dawn system.

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