Wheatbelt exploration needs landholder consents for drilling. Reedy Lagoon Corporation Limited (ASX:RLC) reported on its Burracoppin projects in its Quarterly Report dated 30 July 2026.

Company overview

Reedy Lagoon Corporation Limited (ASX:RLC) holds 100% of the Burracoppin Gold Project, three licences covering 218 square kilometres in the central Wheatbelt, about 20 kilometres from the Edna May gold mine, and the Burracoppin Iron project.

Gold project status

The next phase is proof-of-concept drilling to test whether surface soil geochemistry can identify prospective bedrock structures. Efforts to secure a joint venture partner were terminated in early June 2026 after notification that consents for drilling at three of four prospect areas (Windmills, Shear Luck and Zebra) would not be given. Drilling is planned at Lady Janet, and no field work occurred in the quarter.

Iron project

Extensions to Programmes of Work for planned resource drilling were obtained, and a farm-in partner is sought.

Quarter in context

The summary of the report lists four items for the gold project: preparation for drilling at multiple targets at Lady Janet, Windmills, Shear Luck and Zebra, the search for a farm-in partner, the consents that were not given for three of the prospects, and the plan to drill at Lady Janet. For the iron project, the extension of programmes of work and the continued search for a partner are the two items reported.

The quarterly report also includes the standard Cash Flow Statement and tenement schedule, which provide detail on spending and licence holdings. The announcement does not describe the amount of cash at bank or the cost of the planned drilling, so shareholders will need the full quarterly cash flow report to assess funding.

Why consents matter in the Wheatbelt

Exploration in agricultural regions typically needs agreement from landholders before drilling, and consents can be withheld for operational or personal reasons. When they are not given, programs may need redesign, deferral or relocation to other tenure. Reedy Lagoon has indicated it will focus on the prospect where drilling remains possible.

Project detail and strategy

The Burracoppin Gold Project comprises E70/4941, E70/5467 and E70/5544, covering 218 square kilometres in the central Wheatbelt roughly midway between Perth and Kalgoorlie on the Great Eastern Highway. The Edna May gold mine is about 20 kilometres to the north-east.

The proposed proof-of-concept drilling aims to test whether soil geochemistry can help select prospective structures in bedrock, rather than to define a resource.

Iron project and partner search

The Burracoppin Iron project is also 100% owned. During the quarter, extensions to Programmes of Work for planned resource drilling were obtained, and Reedy Lagoon continues to seek a farm-in partner for that project.

Sector backdrop

Agricultural land access can limit exploration in the Wheatbelt, and small explorers often rely on farm-in partners.

In the Wheatbelt, exploration often takes place on privately owned farmland, so access agreements and consents with landholders are a practical constraint. Without consent, drilling cannot proceed regardless of target quality.

Small explorers frequently seek farm-in partners to share costs, and partner processes can be sensitive to access and approvals.

Risks shareholders should weigh

Consents were refused at three prospects, narrowing the program. No partner has been secured for either project.

Gold targets are based on soil geochemistry and remain untested.

Funding is limited and drilling is not scheduled.

Reedy Lagoon’s report indicates no fieldwork was done in the quarter on the gold project, so there are no new exploration results in this period.

The company’s funding position and costs are covered in separate sections of the quarterly cash flow report and are not summarised in this announcement.

What’s next

Reedy Lagoon plans drilling at Lady Janet and continues to seek partners. Shareholders may wish to watch for drilling dates.

Shareholders may wish to watch for drilling at Lady Janet, any partner announcements and further access developments.