Why Golden Dragon Mining (ASX:GDR) Is Reporting a Gold-in-Soil Anomaly Over About 2.2 Kilometres at Stella Range

Sonal Goyal

15 October 2026 10:45 PM AEDT

Why Golden Dragon Mining (ASX:GDR) Is Reporting a Gold-in-Soil Anomaly Over About 2.2 Kilometres at Stella Range

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An auger survey identified a coherent gold anomaly extending over about 2.2 kilometres of strike, which the company regards as its highest-priority target at Stella Range.
The peak gold value was 73 parts per billion, with 43 samples at or above the 15 parts per billion anomaly threshold.
No drilling has tested the anomaly, and the company has no JORC Mineral Resource at the project.

What the auger survey found

Golden Dragon Mining Ltd (ASX:GDR) has reported results from an auger soil sampling programme at its 100% owned Stella Range Gold Project in the Eastern Goldfields of Western Australia. The programme identified a coherent north-west trending gold anomaly extending over about 2.2 kilometres of strike. The company regards it as the highest-priority gold target at Stella Range. The results are exploration results only, and the company has no JORC Mineral Resource at the project.

A total of 719 auger samples were collected across two survey areas covering about 11 square kilometres, including 397 samples in the northern area. Samples were taken at depths of 0.5 to 2.5 metres, with a median of about 0.5 metres, on a nominal grid of 200 metres between lines and 50 metres between samples, although gaps of up to 400 metres occur. Gyro Drilling carried out the work with a 3.5 inch auger, and ALS in Perth analysed the samples for gold and a suite of other elements.

Gold and pathfinder results

The peak gold value was 73 parts per billion, with other high values of 59, 56 and 45 parts per billion. The company reports 43 samples at or above 15 parts per billion gold, which it uses as its anomaly threshold, being the 90th percentile of the northern sample population.

Golden Dragon also analysed pathfinder elements. Using the same percentile approach, it sets thresholds of 63 parts per million for copper and 0.43 parts per million for tellurium, and reports peaks of 207 parts per million copper and 1.5 parts per million tellurium. Two samples are anomalous in gold, copper and tellurium together, and 20 are anomalous in two of the three. The strongest coincidence lies between about 507,600 and 508,400 metres east, and tellurium anomalism extends further west. These are soil geochemistry results rather than drill intersections, and they do not indicate the grade or size of any mineralisation at depth.

Project setting

The Stella Range licence, E 39/2305, covers 136.4 square kilometres about 120 kilometres south-east of Laverton and about 100 kilometres east of Tropicana. Outcrop is limited, with most of the area covered by Permian glaciogenic sediments and banded iron formation exposed at surface in places. The company says the anomaly sits in a magnetic corridor that it interprets to be the same one hosting Brightstar Resources' Lord Byron deposit, about 12 kilometres along strike. It cites that deposit, which is the work of another company, as a Mineral Resource of 5.4 million tonnes at 1.5 grams per tonne gold for 267,000 ounces. This is a geological comparison only and does not imply similar mineralisation at Stella Range.

Previous explorers, including St George and BHP in 2013 to 2019, did not identify orogenic gold potential. Golden Dragon says no drilling has yet tested the new auger anomaly.

Risks and next steps

Surface geochemical anomalies frequently do not lead to drill intercepts of economic significance, and the company states that future drilling is needed to determine the extent, grade and continuity of any gold mineralisation. Native title applies over the project area, and the company notes that heritage surveys are needed before drilling. The announcement also contains some internal inconsistencies, including references to both north-east and north-west trends, which readers may wish to check against the original document.

Golden Dragon plans infill and extensional auger sampling to close off the gold, copper and tellurium cluster to the south, detailed magnetic interpretation and geological mapping to refine drill targets, and engagement with traditional owners for a heritage survey ahead of first-pass drill testing. No timetable for drilling was given in the announcement. The same announcement says results are awaited from 2,833 metres of recent Reverse Circulation Drilling at Behring Bore and Coodardy at the company's Cue project in the Murchison.

FAQs

Q: What did the auger survey find?

A: The programme of 719 samples over about 11 square kilometres identified a coherent north-west trending gold anomaly over about 2.2 kilometres. The peak gold value was 73 parts per billion, and the company also reports copper and tellurium pathfinder anomalies.

Q: Has the anomaly been drilled?

A: No. Golden Dragon says no drilling has yet tested the new auger anomaly. The results are soil geochemistry rather than drill intersections and do not indicate the grade or size of any mineralisation at depth.

Q: What does the company plan next?

A: Golden Dragon plans infill and extensional auger sampling, detailed magnetic interpretation, geological mapping and engagement with traditional owners for a heritage survey ahead of first-pass drilling. No drilling timetable was given.

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