Key Highlights

  • Axiant Resources (ASX:AXR) shares were priced at $0.165 on 20 October 2026, a gain of 17.86%.
  • Gradient array and pole-dipole induced polarisation surveys at Mt Shoobridge in the Northern Territory defined a central conductor and additional drill targets.
  • The company said all approvals for its maiden drill program have been received, with drilling planned to commence in the coming weeks.

During the Trading session on 20 October 2026, Axiant Resources Ltd (ASX:AXR) shares were priced at $0.165, a gain of 17.86%. The company also released an ASX announcement dated 20 October 2026 reporting the results of induced polarisation (IP) surveys at the Mt Shoobridge prospect within its Shoobridge Gold Project in the Northern Territory, together with an update on preparations for its maiden drilling program.

Company Background

Axiant Resources Limited describes itself as a gold explorer focused on the Pine Creek Orogen in the Northern Territory. The flagship asset is the Shoobridge Gold Project, which comprises a single granted exploration licence, EL31407, covering 230 square kilometres. The company places the project about 60 kilometres north of Pine Creek, accessed via the Stuart Highway, and about 130 kilometres south of Darwin.

Axiant holds the rights to all minerals within the licence other than lithium and associated minerals, which are retained by Core Lithium Ltd (ASX:CXO). The wider portfolio includes the Adelaide River Project, gold rights at the Finniss Project, the Albarta and Jervois base metal projects in the Northern Territory, and the Mt Freeling and Yerelina base metals projects in South Australia.

The company says gold mineralisation at Shoobridge is interpreted to be structurally controlled and associated with the north-northwest trending Shoobridge Shear. Previous drilling defined shallow gold mineralisation over about 800 metres of strike at Mt Shoobridge, and only a limited portion of the roughly 4.5 kilometre mineralised trend has been drill tested.

Induced Polarisation Survey Results

The surveys were carried out by Australian Geophysical Services between 17 September and 1 October 2026, with processing and modelling by Mitre Geophysics Pty Ltd. The program combined a gradient array IP (GAIP) survey and a pole-dipole IP (PDIP) survey, the latter covering four lines on the local grid: 20200N, 20400N, 20600N and 20750N.

The GAIP survey mapped a continuous zone of low resistivity and elevated chargeability along or next to the main gold-bearing shear. The company said this response is interpreted to mainly reflect variations in the shallow weathered zone and may relate to the weathering of sulphides or other regolith effects.

The PDIP survey identified a narrow conductor extending to depth along the same structure. The company said graphitic shale is considered a potential source and that chargeability within the central zone is mainly shallow. The survey also showed deeper chargeable zones to the west and east of the central conductor, centred at about 125 metres depth and present on all four lines. A chargeability response was recorded on line 20750N and a small zone on line 20600N, immediately west of the central zone. The company said neither has been tested by drilling.

Drill Targets Identified

The results define three additional target areas. The first is the central conductor at depth, beneath existing drilling, which aligns with planned drilling to test for gold mineralisation below previous holes. The second is the eastern flank of the central conductor, since most earlier drilling was on the western flank. The third comprises the deep western and eastern chargeability zones, which are untested, with the response on line 20750N described as a target of interest.

Sector Backdrop

The price tracker pricegold.net recorded a gold close of about US$4,162.58 an ounce on 13 October 2026. A Canadian Mining Report article dated 28 September 2026 put the gold close at about US$4,285 an ounce on 25 September 2026.

The same article reported that the 10-year United States Treasury Yield settled near 5.167 per cent on 25 September 2026, after touching 5.225 per cent earlier that week, the highest since June 2007, and that the Federal Reserve had raised rates.

Risks Shareholders Should Weigh

The announcement reports geophysical survey results only. No drilling, rock chip or soil sampling results were reported, and IP anomalies are indirect measurements that require drill testing before the cause of any response is established. The company itself noted that the GAIP response may reflect weathering effects, and that graphitic shale is a potential source of the central conductor.

The company also said the timing and completion of its 2026 exploration program are subject to weather conditions allowing continued site access. Its forward-looking statements caveat refers to risks outside the company's control. Exploration companies at this stage typically depend on drilling outcomes, Commodity prices and access to funding.

What's Next

The company said all approvals for the planned drilling have been received and site preparation is in progress. Drilling is planned to commence in the coming weeks, although no specific start date was given. The program will test for extensions of gold mineralisation along strike and at depth at Mt Shoobridge, together with the IP targets described above. The company is finalising hole locations by combining the geophysical results with existing drilling, soil geochemistry and structural data.