Key Highlights

  • G11 Resources (ASX:G11) shares were down 12.50% at $0.21 during the Trading session on 22 October 2026.
  • In an announcement dated 16 October 2026, the company said the Beatrice prospect will form part of its 2026-2027 summer drill program in Tasmania.
  • Historic hole MS11 intersected 5.5m @ 2.13 g/t Au, 28 g/t Ag, 0.21% Cu, 2.13% Pb and 2.08% Zn from 58m.

G11 Resources Ltd (ASX:G11) shares were down 12.50% at $0.21 during the trading session on 22 October 2026, while the S&P/ASX 200 stood at 8,792.20, down 0.44%, and the All Ordinaries stood at 8,916.20, down 0.45%, at the time of the data. G11 is a Melbourne-based explorer holding wholly owned exploration tenements in western Tasmania. In an announcement dated 16 October 2026, it said the Beatrice prospect at its Sedgwick Bluff Project has defined new drill targets that will be part of its upcoming spring and summer drill program.

About the Company

G11 Resources Ltd is listed on the Australian Securities Exchange under the ticker G11 and is headquartered at Level 21, 459 Collins Street, Melbourne, Victoria. The company describes its exploration tenements in western Tasmania as wholly owned. Its tenement portfolio includes Sedgwick Bluff (EL11/2025), Linda (EL6/2024), MRV (EL33/2022) and EL10/2026, which are set out in a regional location plan relative to major western Tasmanian mines.

Business Overview

G11 is an exploration company focused on the Mt Read Volcanic belt of western Tasmania, a region that hosts mines including Mt Lyell (copper, gold), Henty (gold), Rosebery and Hellyer (zinc, lead, copper, silver, gold) and Renison Bell (tin). The company states that the belt remains largely underexplored, predominantly due to access, and that Mining is the largest contributor to Tasmania's GDP. Its Sedgwick Bluff Project is the setting for the Beatrice, NE Pyrite and Zig Zag prospects that are due to be tested in the coming drill program.

Beatrice Prospect Identified as a Drill Target

In its announcement dated 16 October 2026, G11 said a review of historic exploration data had highlighted Beatrice as a gold-silver-base metal target. The prospect lies in the northern part of EL11/2025, around 3.5km north-east of the Copper Chert and Queen Lyell deposits that form part of the Mt Lyell Mine. It sits within the Cambrian Mount Read Volcanics along a NNE-trending fault corridor, with a mapped mineral occurrence immediately north of the historic drilling.

The company planned a five-hole diamond drilling program through the 2026-2027 summer period, testing a 1km strike length of the Itat Creek Fault. The holes are planned at depths of 500m to 1,000m and are expected to commence in late November 2026.

Historic Drilling and Exploration Record

Thirteen historic diamond holes, MS1 to MS13, were drilled at Beatrice by previous explorers between 1969 and 2000, identifying two main zones of elevated lead, zinc and silver with minor copper. The best intersection, in hole MS11, was 5.5m @ 2.13 g/t Au, 28 g/t Ag, 0.21% Cu, 2.13% Pb and 2.08% Zn from 58m, reported as a downhole width with true width not known. No drilling has been completed at Beatrice since Pasminco's 1998-2000 program.

Earlier work included soil, stream sediment and rock chip sampling that returned anomalous zinc, lead, copper and silver, and induced polarisation surveys that defined chargeability anomalies. Lithogeochemical work between 2010 and 2015 identified a thallium anomaly at Beatrice. G11 noted that the historical assays are not JORC 2012 compliant.

Related Sector Context

Base and precious metals exploration in Tasmania centres on volcanic-hosted systems where companies compile historic data, run geophysical and geochemical surveys, and then test targets with diamond drilling. Explorers at this stage report progress through target definition, approvals and drilling schedules rather than production figures. During the 22 October 2026 session the S&P/ASX 200 stood at 8,792.20, down 0.44%, and the All Ordinaries at 8,916.20, down 0.45%, which places the broader market lower at the time of the data.

Risks to Weigh In

The Beatrice results are historical and were not subject to modern quality assurance and quality control practices. A Competent Person has not done sufficient work to classify them under the JORC Code 2012, and the company has not independently validated the former owner's results. G11 states that confidence in the prior results may be reduced when reported under that code. No Mineral Resource has been estimated at Beatrice, and there is no certainty that further exploration will lead to one. Drilling also requires approvals from Mineral Resources Tasmania, which the company is still awaiting.

Catalysts on Watch

G11 said its next steps are to refine drill targets while awaiting drilling approvals from Mineral Resources Tasmania. The five-hole Beatrice program is expected to begin in late November 2026, with drilling focused on the area around hole MS11 and extending north and south. The company's upcoming spring and summer drill program at Sedgwick Bluff will also test the NE Pyrite and Zig Zag prospects. Assay results from any drilling would follow the completion of the holes.

Putting It Together

G11 Resources shares were lower during the 22 October 2026 session. The company's most recent update, dated 16 October 2026, outlines a prospect with historic drilling results, a planned five-hole program and drilling approvals that are still awaited.