Manuka Resources Delivers High-Grade Gold at Pipeline Ridge
Key Takeaways
- The headline intercept PRRC054 returned 32m at 7.98 g/t Au from just 34m depth — well above the 5 g/t high-grade threshold and shallow enough to suggest open-pit extraction potential.
- All 56 holes across 3,133m of RC drilling confirmed mineralisation in both northern and southern zones, with the deposit remaining open in all directions including at depth and along strike.
- Manuka will now commence a maiden Mineral Resource Estimate for Pipeline Ridge, underpinned by an exploration target of 187kt–365kt at 1.1–1.5 g/t Au, with release targeted for 2026.
- Phase 2 RC and diamond drilling is scheduled to commence October 2026, testing extensions to 100m depth and along strike — delivering a second near-term catalyst in the same quarter as the MRE.
- Pipeline Ridge sits 120km from the Wonawinta processing facility, which recommenced gold processing in August 2026, positioning the project as a potential satellite feed source within an already-operating production system.
Pipeline Ridge delivers outstanding high-grade gold results
Manuka Resources (ASX: MKR) has received high-grade gold assay results from its completed 56-hole, 3,133m Reverse Circulation (RC) drilling programme at the Pipeline Ridge Project, located 28km south of the Mt Boppy Gold Mine site within its Cobar Basin operations.
The headline result is PRRC054, which returned 32m at 7.98 g/t Au from 34m depth — a standout shallow, high-grade intercept. Results have validated both the northern and southern mineralisation zones, with mineralisation confirmed as open in all directions, including at depth, across section and along strike both to the north and south.
On the strength of these results, Manuka will now commence a maiden Mineral Resource Estimate (MRE) for Pipeline Ridge, with release targeted for 2026. Further drilling is planned to commence in October 2026 to test extensions of the mineralisation at depth, across section and along strike.
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Top drill intersections at a glance
The programme returned multiple high-grade shallow intercepts. The table below presents the top eight highlighted intersections from the programme, sourced from Table 2 of the announcement (intercepts with gold content greater than 10 g/t·m).
| Hole ID | From (m) | Width (m) | Gold Grade (g/t Au) | Gold Content (g/t·m) |
|---|---|---|---|---|
| PRRC054 | 34 | 32 | 7.98 | 255 |
| PRRC007 | 37 | 8 | 12.96 | 104 |
| PRRC035 | 37 | 5 | 8.59 | 43 |
| PRRC008 | 24 | 10 | 2.89 | 29 |
| PRRC055 | 34 | 6 | 4.78 | 29 |
| PRRC039 | 32 | 5 | 4.87 | 24 |
| PRRC037 | 11 | 4 | 5.88 | 24 |
| PRRC011 | 32 | 10 | 2.06 | 21 |
All reported intersections are downhole lengths. True widths are not yet known. All results were length-weighted, and no high-grade cuts were applied.
Understanding high-grade shallow gold drilling — and why it matters
RC drilling — Reverse Circulation drilling — is a widely used exploration technique in which a rotating hammer bit breaks rock underground and high-pressure air carries the cuttings back up to the surface through an inner tube. Samples are collected every metre, giving geologists a detailed picture of what lies below. At Pipeline Ridge, every metre drilled was sampled and sent for Fire Assay (50g) analysis at SGS Orange Laboratory, which is a highly precise method for measuring gold content.
Gold grade is expressed in grams per tonne (g/t Au). To put the numbers in context: anything above 1 g/t is generally considered economic for open-pit gold mining, and intercepts above 5 g/t are regarded as high-grade. PRRC054’s result of 7.98 g/t over 32m from just 34m below surface is significant because the shallow depth suggests potential open-pit extraction rather than costly underground mining.
A maiden MRE is the first formal estimate of how much gold exists within a defined volume of rock at a project. It is the critical step that moves a project from exploration results (which show where gold has been found in drill holes) to a quantified resource that can underpin project economics and development decisions.
Underpinning the MRE work is an exploration target of 187kt–365kt at 1.1–1.5 g/t Au, as disclosed in Manuka’s ASX announcement of 28 April 2026. It is important to note that this exploration target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.
Pipeline Ridge inside Manuka’s broader Cobar Basin strategy
Pipeline Ridge is not evaluated as a standalone asset. It sits within Manuka’s broader Cobar Basin footprint as a potential satellite gold deposit within trucking distance (120km) of the Wonawinta processing facility, where gold processing has recently recommenced using Mt Boppy ore (ASX announcement, 21 August 2026).
The company’s strategy is underpinned by a 10-year production plan centred on the Wonawinta processing facility and incorporating multiple gold and silver feed sources across its regional asset base. That strategy is focused on three pillars:
- Increasing near-term gold feed into the Wonawinta plant
- Extending Wonawinta silver mine life beyond the current plan
- Identifying additional satellite gold and silver deposits and resources within trucking distance of Wonawinta, and/or commissioning a gold treatment facility at Mt Boppy
It is worth noting that successful exploration could increase future operating flexibility, but there is no certainty that exploration will result in a Mineral Resource or future mining operation.
Executive Chairman Dennis Karp provided the following commentary on the results:
Dennis Karp, Executive Chairman
“These are exceptionally encouraging results from shallow RC drilling at our Pipeline Ridge project and confirm the potential to generate future gold resources for treatment either at Wonawinta or Mt Boppy. Importantly, this precious and base metal exploration is being undertaken alongside Manuka’s production restart, which will deliver first revenues from the processing of Mt Boppy gold bearing stockpiles this quarter.”
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What comes next — MRE, further drilling and metallurgical work
Manuka has outlined a defined sequence of next steps following the receipt of assay results. Multiple near-term catalysts are expected before year-end 2026:
- Maiden MRE for Pipeline Ridge — geological modelling, alteration model based on pXRF analyses, block modelling, and Competent Person review — targeted for release in 2026
- Phase 2 RC and diamond drilling — commencing October 2026 — testing depth extensions to 100m and strike extensions both north and south of the current drilling
- Bottle-roll testwork — indicative analysis of the amenability of the mineralisation to cyanide leaching across a suite of samples
- Six diamond core holes — collection of representative material for diagnostic leach metallurgical testwork
- Hyperspectral scanning at the NSW Geology unit at Londonderry — providing mineralogical data to be integrated with the pXRF multielement database to support the MRE
With both a maiden MRE and Phase 2 drilling expected before year-end, Pipeline Ridge is shaping up as an active near-term catalyst for Manuka as it simultaneously advances its production restart at Wonawinta.
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