49 Metals (ASX: 49M) Hits Thickest Gold Interval at Gold Mountain

49 Metals has completed its maiden reverse-circulation drilling campaign at the Gold Mountain project in Nevada, with final assays delivering the thickest gold intercept recorded in the program.

Hole DRC#22 returned 170.7 metres at 0.9 grams per tonne gold from 121.9 metres, including 50.3 metres at 1.2 grams per tonne from 207.3 metres.

The result completes assays from all 22 holes in the roughly 7,500-metre campaign and adds evidence that Gold Mountain hosts a broader mineralised system than previously interpreted.

High-Grade Corridor Takes Shape

While DRC#22 highlighted scale, DRC#19 provided some of the strongest grades from the latest results.

The hole intersected 67.1 metres at 1.7 grams per tonne gold from 169.2 metres, including 10.7 metres at 8.4 grams per tonne. Within that interval, a three-metre section returned 20 grams per tonne from 189 metres.

49 Metals said the result supports its interpretation of a high-grade feeder corridor extending through the Adit Zone, which remains open in all directions.

Earlier drilling provided further evidence of higher-grade mineralisation. DRC#9 returned 27.4 metres at 8.3 grams per tonne, including 9.1 metres at 21.9 grams per tonne from 224 metres.

Shallow Mineralisation Adds Targets

The program also identified mineralisation closer to surface south of previous drilling.

DRC#21 intersected 13.7 metres at 2.9 grams per tonne gold from 12.2 metres, including 6.1 metres at 4.9 grams per tonne. A second interval returned 13.7 metres at 1.1 grams per tonne from 35.1 metres.

DRC#18 returned 29 metres at 1.3 grams per tonne from 18.3 metres, including 4.6 metres at 5 grams per tonne.

Those structures remain open along strike and at depth, providing additional targets for follow-up drilling.

Geological Model Expands

All 22 holes intersected gold and/or silver mineralisation, prompting 49 Metals to broaden its interpretation of Gold Mountain beyond a series of discrete high-grade structures.

The 170.7-metre interval in DRC#22 lies entirely within the Oddie Rhyolite and cuts multiple mineralised structures, breccias and fault zones. The company now considers both the host unit and its structural architecture important controls on mineralisation.

The results remain early-stage, however. Reported intercepts are downhole lengths rather than confirmed true widths, and drill spacing is not yet sufficient to support a mineral resource estimate.

Gold Mountain sits within Nevada’s Walker Lane trend and contains several prospective structures and areas that remain largely untested by drilling.

Follow-Up Campaign Planned

49 Metals is incorporating assays, geological logging, structural interpretation and geochemical data into an updated exploration model ahead of further drilling.

The company is targeting another campaign at priority prospects before the end of 2026 and plans to extend induced-polarisation surveying to identify deeper targets.

49 Metals reported $6.8 million in cash at June 30, which it said provides sufficient funding for the next phase of exploration.