Neometals Ltd (ASX: NMT) Exploration Update – Barrambie High-Grade Diamond Drill Intercepts

Highlights:

• Gold assay results have been received from inaugural diamond drilling program at the Ironclad deposit and Mystery prospect located at Neometals’ 100% owned Barrambie Gold Project
• The aim of the drilling at Ironclad was to collect structural and geological data within the current Inferred Mineral Resource Estimate¹ (“MRE”) (13,000oz @ 1.6g/t Au) so to better understand the controls on gold mineralisation
• Significant intercepts of mineralised shearing and veining from Ironclad include: 
  •  25ICDD001 - 22.1m at 1.75g/t from 18.6m (including 2.4m at 5.95g/t & 2.9m at 4.33g/t)
  • 25ICDD002 - 6.2m at 9.87g/t from 30.8m (including 3.0m at 19.78g/t); 
  • 25ICDD003 - 14.15m at 3.21g/t from 15.95m (including 3.25m at 11.45g/t & visible gold), and 7.0m at 3.16g/t from 44.9m (including 1.45m at 11.00g/t); 
  • 25ICDD004 - 13.5m at 1.86g/t from 29.0m (including 0.2m at 26.53g/t & 0.3m at 20.76g/t), and 8.55m at 3.29g/t from 50.45m (including 3.85m at 6.69g/t) ;
  • 25ICDD005 - 9.8m at 1.18g/t from 20.0m (including 0.2m at 26.07g/t) and 4.5m at 3.94g/t from 45.7m;
  • 25ICDD006 - 4.0m at 1.52g/t from 122.0m; and
  • 25ICDD007 - 0.1m at 19.01g/t from 54.4m and 8.6m at 2.82g/t from 77.6m (including 1.8m at 11.59g/t). 
• Mystery drilling was designed to follow-up historic drilling², returning 10.2m at 2.72g/t from 83.3m (including 1.45m at 8.97g/t) below old workings
• Follow-up drilling at Ironclad and Mystery planned along with drill testing of several other prospects including the historic Barrambie Ranges mine

Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to provide an exploration update on the Company’s 100% owned Barrambie Gold Project (“the Barrambie Project”), in Western Australia. This diamond drilling (“DD”) programme was completed over May and June 2025 and focused on two areas within the Sugarstone Centre in the north of the Barrambie Gold Project: Seven holes for 638.6m were completed at the Ironclad Inferred MRE, and one hole for 121.8m below the Mystery historic workings.

All objectives of the drilling were achieved, that is: to verify higher-grade zones and to gain new knowledge regarding the nature of mineralisation, key structural associations and controls within the Ironclad Inferred MRE. At Mystery, the objective was to verify the continuation of mineralisation below underground workings as indicated by sparse historic drilling.

NEXT STEPS

Next steps include further infill and extension drilling to grow the current Ironclad Inferred MRE, step-out drilling to extend mineralisation at Mystery and initial drilling of high-priority targets along the 4km Barrambie trend, including the Barrambie Ranges mine.

Neometals Managing Director, Chris Reed, says: “This drilling is providing important new insights to the nature and controls on mineralisation particularly the structures hosting the higher-grade zones. It is still very early days, but we are excited by the opportunities the Barrambie Project presents and are looking forward to the resumption of drilling at Ironclad and Mystery and initial drilling at the Barrambie Ranges mine”.

To read the full announcement, please click here

About Barrambie

The Barrambie Project hosts one of the world’s highest-grade titanium deposits and is also highly prospective for gold mineralisation. Minimal gold exploration has occurred since the 1990s within Neometals’ 505 square kilometre tenure, which contains approximately 40km strike of the Barrambie Greenstone Belt. The potential for high-tenor gold mineralisation is demonstrated by several historic mining sites within the Belt which have an average production grade of 24.8g/t, and, based on historic drill data, a gold Exploration Target has been estimated at between 8Mt at 1.3g/t Au and 10.5Mt at 2.3g/t Au, for 335k and 775k ounces. 

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