Key Highlights

  • E79 Gold Mines plans more than 12,000 metres of drilling at its Cue Gold Project in Western Australia, with activities scheduled to commence in November 2026.
  • The programme includes Reverse Circulation Drilling at the Ada and Chloe prospects, alongside aircore drilling across earlier-stage exploration targets.
  • A heritage survey was completed during 12–16 October 2026, following a heritage protection agreement with the Yugunga-Nya Traditional Owners.
  • The company reported AUD 1.95 million in cash at 30 September 2026, with estimated funding availability of approximately 4.4 quarters based on its quarterly expenditure.

E79 Gold Mines Limited (ASX:E79) is an Australian mineral exploration company with gold projects in Western Australia and copper exploration interests in the Northern Territory. Its principal exploration focus is the Cue Gold Project in the Murchison region, where a drilling programme exceeding 12,000 metres is planned to commence in November 2026. The programme is intended to investigate mineralisation at established prospects and assess additional regional targets.

Cue Gold Project Prepares for Extensive Drilling

The Cue Gold Project covers approximately 67 square kilometres within the Day Dawn goldfield in Western Australia's Murchison region.

E79 plans to deploy two drilling rigs across the project, combining reverse circulation drilling at Ada and Chloe with aircore drilling across less-explored areas.

The reverse circulation component is intended to investigate the continuity and extent of previously identified gold mineralisation. Aircore drilling will provide geological information to help prioritise targets for further exploration.

On 3 August 2026, the company entered into a heritage protection agreement with the Yugunga-Nya Traditional Owners.

A heritage survey covering the proposed drilling areas was subsequently completed between 12 and 16 October 2026, supporting preparations for field activities.

The planned campaign represents an important stage in assessing the project's geological potential, although the results will depend on drilling outcomes and subsequent technical interpretation.

Exploration Activities Across the Project Portfolio

Beyond Cue, E79 maintains exploration interests at Laverton South in Western Australia and Mountain Home in the Northern Territory.

The Laverton South Project covers approximately 272 square kilometres across the Pinjin and Lake Yindana areas.

Mountain Home comprises approximately 1,366 square kilometres within the McArthur Basin and is being assessed for copper mineralisation.

During July 2026, an airborne gravity and magnetic survey was completed at Mountain Home. Interpretation of the geophysical information identified areas requiring further geological assessment.

The company also received an AUD 150,000 government exploration co-funding rebate during the September 2026 quarter.

At Cue, E79 secured an option over tenement P21/800 in August 2026, adding ground containing geophysical targets to its exploration portfolio.

Financial Position and Exploration Expenditure

E79 reported cash and cash equivalents of approximately AUD 1.95 million at 30 September 2026.

Its September 2026 quarterly Cash Flow report recorded operating cash outflows of AUD 446,000 and investing cash outflows of AUD 55,000.

The company estimated available funding of approximately 4.4 quarters based on its reported expenditure and financing position.

For the financial year ended 30 June 2026, E79 reported a net loss after tax of approximately AUD 2.44 million and net Assets of AUD 7.59 million.

These figures reflect the company's exploration-stage operating model, under which expenditure is directed towards geological investigations, tenement management and corporate activities rather than commercial mineral production.

Exploration Risks and Funding Considerations

E79 has not established a mineral resource estimate across its project portfolio. Consequently, the commercial potential of its exploration areas remains dependent on further drilling, geological interpretation and technical assessment.

The planned Cue programme will require expenditure on drilling, geological services and associated field activities.

The company's financial position also requires attention as exploration spending progresses. Its FY2026 financial statements identify material uncertainty relating to the company's ability to continue as a going concern.

Additional funding may be required to support exploration and ongoing corporate expenditure, depending on programme costs and future financial requirements.

What to Watch in the Coming Months

The commencement of reverse circulation drilling at Ada and Chloe represents the next operational milestone for E79 Gold Mines.

Subsequent assay results will provide information about the grade, distribution and continuity of gold mineralisation across the targeted areas.

Aircore drilling will also help assess regional exploration opportunities within Cue.

At Mountain Home, further interpretation of geophysical data may assist in identifying targets for future fieldwork.

The timing of drilling results, expenditure requirements and future financing decisions will remain relevant to the company's exploration plans.

Key Insights

E79 Gold Mines Limited is preparing a drilling campaign exceeding 12,000 metres at Cue, with the objective of advancing geological understanding across established and regional gold prospects.

The programme follows heritage-related preparations and additional tenement activity during 2026.

The company's financial resources, drilling results and subsequent technical assessments will influence the pace and scope of future exploration.