Golden Dragon Maps 2.2km Gold Soil Anomaly at Stella Range, Untested by Drilling
Key Takeaways
- Golden Dragon has defined a gold-in-soil anomaly over more than 2.2 km of northwest strike at Stella Range, peaking at 73 ppb Au from 719 samples, with no drilling over it.
- Gold, copper and tellurium overlap in the same cluster, with two samples anomalous in all three elements and 20 more in two of three.
- The cluster lies about 12 km along strike from Brightstar's Lord Byron deposit (5.39 Mt at 1.5 g/t Au for 267 koz) on a similar magnetic corridor, and management ranks it the highest priority gold target at Stella Range.
- No dates, budgets or drill metres have been disclosed, and a heritage survey must precede first-pass drilling.
- Results are pending from 2,833 m of RC drilling at Behring Bore and Coodardy, where Coodardy previously returned 12m @ 6.5 g/t Au including 4m @ 17.6 g/t Au.
Kilometre-scale gold anomaly emerges at Stella Range
Golden Dragon Mining (ASX: GDR) has identified a gold-in-soil anomaly extending over more than 2.2 km of northwest strike from its auger program at the Stella Range Gold Project. The peak result was 73 ppb Au, from a 719-sample dataset.
The project lies ~120 km southeast of the Laverton goldfield (+20 Moz gold endowment) and ~100 km east of the Tropicana goldfield (+10 Moz gold endowment). No drilling exists over the anomaly, which makes this untested upside rather than a drilling result.
Managing Director Simon Buswell-Smith framed it that way in the announcement:
Simon Buswell-Smith, Managing Director
“…the target remains untested by drilling, presenting the Company with a genuine opportunity to investigate the potential for gold mineralisation at depth…”
Key points from the announcement:
- Gold-in-soil anomalism over more than 2.2 km of northwest strike
- Peak value of 73 ppb Au
- Strong association between gold, copper and tellurium (Au–Cu–Te)
- A coherent northwest-trending axis in a magnetic low setting
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What the auger results show
Gold, copper and tellurium line up
The coherent anomaly sits in the northern auger sample area, which covers 397 samples. Other elevated gold results included 59 ppb, 56 ppb and 45 ppb, so the anomaly is not a single-point result.
Anomalous values are those at or above the 90th percentile of the northern sample population. That is a relative yardstick drawn from this dataset, not an absolute grade benchmark.
| Element | Anomaly threshold | Peak value |
|---|---|---|
| Gold (Au) | ≥**15 ppb** | **73 ppb** |
| Copper (Cu) | ≥**63 ppm** | **207 ppm** |
| Tellurium (Te) | ≥**0.43 ppm** | **1.5 ppm** |
Anomalous responses for all three elements are concentrated in the eastern part of the northern area, between approximately 507,600 mE and 508,400 mE. Two samples were anomalous in all three elements, and a further 20 were anomalous in two of the three.
Tellurium anomalism extends further west than gold and copper, with additional anomalous samples between approximately 506,000 mE and 506,800 mE.
What auger geochemistry and pathfinder elements tell investors
Auger sampling is a shallow soil survey. Samples in this program were collected from depths of 0.5 m to 2.5 m, with a median depth of approximately 0.5 m, to look for gold signatures near surface.
Pathfinder elements are elements that tend to occur alongside gold. Here, copper and tellurium add geological indicators that support the gold signal, which is why the overlap matters more than any single number.
This remains early-stage, reconnaissance-level work. Future drilling is required to determine the extent, grade and continuity of any underlying gold mineralisation, and nothing in the announcement points to a resource.
Lord Byron proximity and the investment angle
The anomaly sits approximately 12 km along strike from Brightstar Resources’ (ASX: BTR) Lord Byron deposit. Brightstar reports a JORC Mineral Resource at Lord Byron of 5.39 Mt at 1.5 g/t Au for 267 koz and is targeting the start of mining in the March quarter of 2027.
That resource belongs to Brightstar, not Golden Dragon, and the anomaly is not a resource or a guide to what drilling will find. What the company points to is a similarity in setting: the main cluster is interpreted to lie on the same north-north-west trending magnetic corridor as Lord Byron, in a magnetic low setting.
The company states that the coincidence of a coherent Au–Cu–Te cluster with this magnetic setting makes it the highest priority gold target at Stella Range.
Golden Dragon is described as one of the first explorers to target gold mineralisation at Stella Range. Earlier work by St George Mining Limited, partnering with BHP Billiton Nickel West between 2013 and 2019, was aimed at discovering a large nickel sulphide body.
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Next steps and Cue Project drilling
The company has outlined the following planned work:
- Infill and extensional auger sampling to close off the cluster to the south
- Detailed magnetic interpretation and geological mapping to refine drill targeting
- Engagement with traditional owners for a heritage survey, in preparation for first-pass drill testing of the cluster
The announcement discloses no dates, budgets or drill metres for Stella Range, so timing of any drilling is unclear.
In parallel, results are pending from 2,833 m of RC drilling at Behring Bore and Coodardy at the flagship Cue Project. Current drilling targets extensions to recently identified high-grade mineralisation at Coodardy, which previously returned 12m @ 6.5 g/t Au from 44m, including 4m @ 17.6 g/t Au.
Those results are consistent with earlier intercepts including 8m @ 10.82 g/t Au from 25m, with a standout interval of 4m @ 21.37 g/t Au.
Earlier drilling that confirmed high-grade gold at Behring Bore showed the Cue system expanding along its mineralised shear zones, and it frames why the pending RC results carry weight alongside the early Stella Range work.
The Cue Project hosts over 50 km of mineralised shear zones. Following grant of E20/1073 and the newly applied E20/1122, the company states it will secure control of a ~619 km² landholding in the Murchison Region.
For investors, two catalysts are now in view: the pending Cue drill results and the follow-up work at Stella Range. The Stella Range anomaly is an early target, so what matters next is whether infill sampling and drill testing confirm it.
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