Why iTech Minerals (ASX:ITM) has extended antimony mineralisation and intersected gold deeper at its Falchion prospect in the Northern Territory

Sonal Goyal

15 October 2026 10:45 PM AEDT

Why iTech Minerals (ASX:ITM) has extended antimony mineralisation and intersected gold deeper at its Falchion prospect in the Northern Territory

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FLRC26-010 returned 6 metres at 1.64 per cent antimony and 0.43 grams per tonne gold, including 1 metre at 6.32 per cent antimony.
FLRC26-013 returned 3 metres at 2.29 grams per tonne gold from 129 metres, the deepest gold intercept in iTech's Falchion drilling.
No Mineral Resource has been estimated, and the company says data spacing is insufficient for one.

iTech Minerals Ltd (ASX:ITM) has reported results from five reverse circulation holes totalling 522 metres at the Falchion prospect in the Reynolds Range Gold-Antimony Project, Northern Territory. The company says the eastern antimony zone has been extended and the main gold zone has been intersected at greater depth. The holes, FLRC26-010 to FLRC26-014, were completed between 20 and 25 August 2026.

Antimony results

Three holes tested the eastern zone at about 25 metre spacing east of FLRC26-009, which returned 8 metres at 0.95 per cent antimony from 46 metres in the company's 12 August 2026 report. FLRC26-010 returned 6 metres at 1.64 per cent antimony and 0.43 grams per tonne gold from 54 metres, including 2 metres at 4.34 per cent antimony and 1.15 grams per tonne gold. One metre at 55 metres assayed 6.32 per cent antimony, which iTech describes as the highest antimony grade from its drilling at Falchion. FLRC26-011 returned 10 metres at 0.91 per cent antimony from 50 metres, and FLRC26-012 returned 9 metres at 0.57 per cent antimony from 43 metres.

Antimony is now intersected in four holes over about 70 metres of strike, 35 to 50 metres below surface. The zone is open to the east, where there is no drilling beyond FLRC26-010, and it has not been tested below about 50 metres.

Gold at depth

FLRC26-013 returned 3 metres at 2.29 grams per tonne gold from 129 metres, about 115 metres below surface and about 40 metres below an earlier hole, FLRC26-007. The company calls this the deepest gold intercept in its Falchion drilling. FLRC26-014 returned 6 metres at 2.14 grams per tonne gold from 117 metres, with 3 metres at 3.03 grams per tonne gold and 1.85 per cent antimony from 120 metres. The two intercepts are about 30 metres apart along strike and the zone is described as open at depth.

Caveats the company highlights

iTech states that no Mineral Resource has been estimated at Falchion and that data spacing is insufficient for one. Its interpretive grade shells extend beyond the drilling and are not a Mineral Resource or Exploration Target, and the antimony shells predicted antimony in neighbouring holes only weakly. Intercepts are downhole lengths and true widths are not yet known and will be less.

Only selected intervals were assayed in three of the holes, and no results have been received for three one-metre samples in FLRC26-011. Sample recovery in FLRC26-014 between 5 and 12 metres was poor, so shallow gold results from 7 to 8 metres and 11 to 13 metres should be treated with caution. The release compares the mineralisation style with Sunday Creek, Fosterville and Costerfield on geological grounds only and says this should not be taken as predictive. Metallurgical testwork is under way to determine gold and antimony recoveries, and no metal equivalents are reported.

Project and next steps

Falchion sits on four granted exploration licences covering 791 square kilometres, 90 to 230 kilometres north-north-west of Alice Springs. The tenements are held 100 per cent by iTech Energy Pty Ltd, a wholly owned subsidiary, although SQM International has an option to earn up to 70 per cent of the lithium mineral rights. iTech retains all other commodities.

The company plans follow-up drilling at Falchion to test the eastern antimony zone further east and at depth, and to test the main gold zone below the current holes. Diamond drilling at the Sabre prospect, about 1.6 kilometres east, is planned to begin in mid-November 2026, targeting the main gold shoot at depth. Detailed soil sampling is planned along extensions of the structures hosting Sabre and Falchion, and a detailed drone magnetic survey will be released after interpretation.

FAQs

Q: What did the Falchion drilling find?

A: Five reverse circulation holes totalling 522 metres extended the eastern antimony zone, now intersected in four holes over about 70 metres of strike, and intersected the main gold zone at greater depth. The zone remains open to the east and has not been tested below about 50 metres.

Q: Is there a Mineral Resource?

A: No. iTech states that no Mineral Resource has been estimated at Falchion and that data spacing is insufficient for one. True widths are not yet known and will be less than the downhole intercept lengths.

Q: What is planned next?

A: iTech plans follow-up drilling at Falchion to test the eastern antimony zone further east and at depth, and diamond drilling at the Sabre prospect from mid-November 2026. Detailed soil sampling and a drone magnetic survey are also planned.

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