Rokeby Confirms 11,337oz Gold Resource at Surface Tailings to Fund Underground Mine
Rokeby confirms maiden gold resource at Omeo’s Cassilis tailings
Rokeby Resources has confirmed a maiden inferred JORC-compliant Mineral Resource Estimate at the Powers Gully tailings deposit within its flagship Omeo Gold Project in north-east Victoria. The resource stands at 66,565 tonnes at 5.29 g/t Au for 11,337 ounces of gold. This maiden resource defines a near-term, low-capital production pathway — tailings processing to fund the larger Mt Wills underground ambition. The Omeo project is fully permitted and has Victorian State Government backing for rehabilitation of legacy mine sites.
When big ASX news breaks, our subscribers know first
Powers Gully maiden resource by the numbers
The Powers Gully tailings deposit has been defined through 35 C-series auger holes (82.4m total drilling, 87 one-metre composites) and estimated independently by Mining One Consultants.
| Category | Tonnes | Au (g/t) | As (%) | Gold (oz) |
|---|---|---|---|---|
| Inferred | 66,565 | 5.29 | 1.20 | 11,337 |
Key technical parameters:
- In-situ density of 1.5 t/m³
- Nearest-neighbour estimation method
- 8 ppm Au top-cut applied based on histogram analysis
- Validation drilling in January 2026 (PW-series) confirmed C-series consistency when spatial context was honoured
A defined ounce count at 5.29 g/t turns legacy tailings into a quantified, bankable asset. This is material that has already been mined and sits at surface.
Why tailings matter — the low-capital cash-flow play
Tailings deposits are leftover processed material from historical mining that still contain recoverable gold. The material sits at surface, eliminating the need for hard-rock mining, drilling, or blasting. This dramatically lowers the capital cost and accelerates the path to first production compared to underground development.
For investors, the strategic logic is clear: early cash flow from tailings processing can self-fund the higher-cost Mt Wills underground development, reducing reliance on dilutive equity raises. Rokeby describes this approach as targeting “profitable but not optimal” recoveries to establish early cash flow, not maximum extraction efficiency.
Recent ABA test work using cyanide leaching with caustic soda pre-treatment delivered 98% gold recovery with final tails grades of 0.16 g/t Au from a Powers Gully sample. That recovery rate validates the commercial viability of the tailings resource.
A systematic plan to grow the resource base
Rokeby has committed to an expanded work program across both the Cassilis and Mt Wills goldfields:
- Further auger drilling over Powers Gully to a minimum 20m x 20m pattern
- Density measurement program (minimum 30 measurements, sand replacement method)
- Extensive metallurgical test program to define optimal flow sheet and recoveries
- Repeat this work across Wardens Mine, Yellow Girl and Maude tailings deposits
The company has split the program into two phases. Phase 1 targets higher-grade, lower-capital tailings deposits. Phase 2 addresses mullock (waste rock) deposits across the project area.
The goal is to upgrade Powers Gully from inferred to indicated classification and define indicated resources at the three other deposits. This work runs in parallel with diamond drilling at the Sunnyside deposit within Mt Wills — resource definition and hard-rock exploration are advancing simultaneously.
Director’s commentary
Richard Beazley, Managing Director
“The work we are committing to today will allow us to build quickly on the past actions and get us to an investment decision within two months to engineer and construct a pilot plant to initially process tailings.”
Beazley noted that early-stage tailings production can positively impact funding strategies as the company works toward building the Mt Wills underground mine. He also acknowledged the collaborative relationship with Resources Victoria to address these old state legacy sites and mitigate environmental impacts on local waterways.
The bigger prize — Omeo’s high-grade underground potential
The tailings resource sits within a broader project that hosts significant underground potential. Mt Wills contains a historical resource of 2,456,000 tonnes @ 4.0 g/t Au for 320,000 ounces across the Maude and Sunnyside deposits.
Cautionary statement: This is a historical estimate reported under JORC 2004 and has not been updated to comply with JORC 2012. A competent person has not done sufficient work to classify this historical estimate as mineral resources or ore reserves under the current JORC Code. It is uncertain that, following further evaluation and exploration, this estimate will be able to be reported as mineral resources in accordance with JORC 2012.
The Sunnyside deposit is fully permitted and drill-ready. Historical mining in the Mt Wills area produced more than 235,000 ounces at grades exceeding 18 g/t. Recent drilling has returned historical intercepts that confirm strong vertical continuity and ultra-high-grade shoots:
- 15.9m @ 52.3 g/t Au (SSDH017)
- 0.8m @ 238.5 g/t Au (SSDH026)
- 3.55m @ 26.6 g/t Au (SSDH053)
These intercepts were reported under JORC 2004 and have not been updated to JORC 2012.
The tailings play delivers the near-term catalyst. The underground resource is the longer-term value driver. One funds the other.
The next major ASX story will hit our subscribers first
What comes next for RKB investors
The company has outlined clear near-term milestones:
- Investment decision on pilot plant expected within two months
- Sunnyside diamond drilling program completion scheduled in approximately 4 weeks
- First Mt Wills resource model update due September 2026
- Ongoing tailings resource upgrades across four deposits
Rokeby is executing a staged pathway: low-capital tailings cash flow funding a long-term underground gold operation, backed by Victorian State Government support for site rehabilitation. The Powers Gully maiden resource turns that strategy from concept into quantified ounces.
Want the Next ASX Gold Discovery in Your Inbox?
Join 30,000+ investors getting FREE breaking ASX mining news delivered within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Discovery Alert to start receiving real-time alerts the moment market-moving gold announcements break.