Key highlights

  • Reach acquired prospecting licences P59/2210, P59/2408 and P59/2411 adjoining the Pansy and Shamrock deposits.
  • The ground lies west of the Pansy Pit and could allow realignment of the Maranalgo Road, subject to approvals.
  • The licences include extensions of the Primrose Shear and mapped surface quartz veins.

Reach Resources Limited (ASX:RR1) announced on 13 October 2026 that it has acquired three prospecting licences, P59/2210, P59/2408 and P59/2411, at its Murchison South Gold Project near Payne's Find in Western Australia. The licences directly adjoin the Pansy Pit Mining Lease M59/786 and lie immediately south-west of the Shamrock deposit.

Pansy Pit and the road constraint

Pansy hosts an Inferred Mineral Resource of 72,000 t at 2.5 g/t Au for 5,800 oz and sits on the Primrose Shear between the Jacamar and Shamrock deposits. The extent of any future open pit is currently constrained by the alignment of the Maranalgo Road. The new tenure provides a corridor to realign the road, which the company says could allow a larger open pit design if it elects to develop Pansy.

Any realignment is subject to consultation with, and approval from, the Shire of Yalgoo and other authorities. The company states it has not decided to expand the pit and that no mine design, production target or economic assessment has been completed for an expanded pit.

Geological setting

Geophysical imagery shows a magnetic low in the west of P59/2408 and the south of P59/2210, interpreted as a felsic intrusion bounded by a greenstone contact and faulting. The company says this is similar to settings that host gold at Blue Heaven, Pansy and Shamrock. Mapping records quartz veins in the tenements, which it considers a priority for follow-up, although most of the ground is under cover.

Blue Heaven and the wider project

Blue Heaven is being advanced toward production under a Right to Mine Agreement with Andel Resources, which covers lease M59/769 only. The Pansy area currently sits outside that agreement, although Reach retains the option to include it.

Risks shareholders may weigh

The Pansy resource is small and Inferred, and no expanded pit has been designed. Road realignment needs consultation and approval, and the licences are mostly under cover, with targets based on interpreted geophysics rather than drilling. The announcement does not state the Acquisition price.

Gold prices, approvals, funding and the outcome of exploration are further factors.

What's next

Reach identifies the quartz veins and old workings on the new tenements as priorities for follow-up. The company continues to advance Blue Heaven under the Andel agreement and to build a pipeline of 100%-owned deposits and targets around Pansy and Shamrock.