Albion Resources: High-Grade Gold at Gidgee, More Results Ahead

First assays return 7m at 3.6g/t gold as Albion advances its dual-rig drilling campaign.

Albion’s First Gidgee Assays Deliver Shallow High-Grade Gold

Albion Resources (ASX: ALB) has delivered an encouraging first result from its drilling campaign at the Gidgee Gold Project, intersecting 7m at 3.6g/t gold from 60m, including 3m at 6.7g/t gold, in aircore hole ABAC008.

Reported on 13 October 2026, the intersection sits approximately 200m south of the main historical drilling area at German Well South, identifying a new priority area for follow-up exploration.

The significance is not just the grade, but where the gold has been intersected.

Together with historical drilling, the new result identifies gold mineralisation over approximately 600m of strike along the interpreted German Well South trend, compared with approximately 400m covered by the main historical drilling area. This highlights the potential for additional mineralised zones along the trend, although further drilling is required to establish continuity.

Separately, ABAC008 finished in gold mineralisation, returning 1m at 0.8g/t gold from 72m, at the end of the 73m hole. This lower interval provides another target for investigation, including testing whether mineralisation continues at depth.

Two Drilling Programs Are Advancing in Parallel

The first assays arrive as Albion progresses exploration on two fronts. Aircore drilling is testing shallow targets across Gidgee, while reverse circulation (RC) drilling is underway at German Well South, targeting deeper extensions to the historically identified mineralisation.

The RC program is following up a prospect with historical intersections including:

• 21m at 5.4g/t gold from 118m
• 16m at 5.5g/t gold from 41m

These are previously reported results, rather than new assays, and provide the geological context for testing extensions into fresh rock beneath the oxidised zone.

As at the latest announcement, Albion had completed 53 aircore holes for 4,510m, with samples from 15 holes submitted for laboratory assay and awaiting results.

Importantly, the results released so far relate to ABAC008 only, rather than the broader campaign. This leaves considerable scope for upcoming assays to provide a clearer picture of the project's mineralisation.

The Opportunity Extends Beyond One Drill Hole

German Well South sits within the interpreted Tokey West Shear corridor, comprising approximately 5km of prospective structural ground, much of which remains largely untested by drilling.

Approximately 2km of that corridor lies within Albion’s recently optioned southern ground, adding further targets for systematic exploration.

Albion’s current campaign also represents the first exploration drilling across the project since 2014, bringing renewed attention to ground that has seen limited modern exploration.

For investors, the broader opportunity lies in determining whether the encouraging results at German Well South form part of a more extensive mineralised system. While the initial intersection is promising, demonstrating consistent grades across multiple drill holes will be essential to establishing the project's exploration potential.

What Comes Next for Albion Resources?

Albion plans to return the aircore rig to the area surrounding ABAC008 to better define the extent and continuity of mineralisation, while continuing to test other regional targets.

Further aircore assays are expected progressively over the coming weeks, with initial RC results anticipated in late November 2026, subject to laboratory turnaround times.

The next question is whether follow-up drilling can demonstrate repeatable grade, continuity and scale.

From our perspective, the initial results are encouraging, particularly given the location of the intersection outside the main historical drilling area. However, the investment case remains dependent on whether subsequent assays can establish a larger, coherent mineralised system rather than isolated high-grade intersections.

The coming weeks could therefore prove important for Albion, as additional drilling results provide investors with a better understanding of Gidgee's exploration potential.

Read Albion’s full ASX announcements for the results, exploration plans and technical disclosures.