Green & Gold Minerals Hits 27m Zone at Mt Gossan as Mt Wandoo Drilling Starts
Key Takeaways
- Mt Gossan holes MGC001 and MGC002 returned 27m and 11m of mineralisation from surface, sitting 14m and 22m below the Siberia Lode.
- The best MGC002 interval hit 1m at 1.70% tin, 101 g/t indium and 34.0 g/t silver, with tin and indium treated as the reliable markers in weathered rock.
- Fresh-rock continuity and grade remain the key open question, as the samples come from weathered material where copper is commonly depleted.
- Six Mt Wandoo holes are complete, with first assays expected in 6-8 weeks against an Inferred resource of 32,400oz gold and 387,000oz silver.
- Copper Hills drilling starts in about three weeks, followed by maiden drilling at Elizabeth Bluffs after a rig change in mid to late October.
Mt Wandoo drilling underway as Mt Gossan returns 27m weathered mineralised zone
Green & Gold Minerals (ASX: GG1) has commenced drilling at Mt Wandoo, with six holes completed to date, while assays from Mt Gossan point to a new weathered mineralised zone beneath the Siberia Lode.
The headline intercepts are 27m in MGC001 and 11m in MGC002, both starting from surface. Drilling is planned to continue until the Christmas break, and first Mt Wandoo drill results are expected in 6-8 weeks.
For investors, the Mt Gossan result matters because the zone is broader than the Siberia Lode in anomalous widths and sits within the Herberton Conductor Metals Project. Mt Wandoo supports the company’s stated dual focus of extending the Wandoo resource in preparation for mining studies, while exploring for new gold discoveries in the Mungana porphyry cluster.
When big ASX news breaks, our subscribers know first
What is the Mt Wandoo drilling testing?
What the drilling is testing
The Mt Wandoo program is an infill, extensional and metallurgical drill program. It is designed to extend the open mineralisation to the southeast and expand high-grade zones within the existing resource model footprint.
The program will also test targets at North Wandoo and Little Wandoo.
Existing resource context
Mt Wandoo sits within the Chillagoe Gold Project, which is located 25km northwest of Chillagoe in north Queensland. Here is the baseline the new drilling is building on:
- Inferred JORC Resource: 32,400oz Au and 387,000oz Ag at 1.1g/t Au and 13 g/t Ag (7 Oct 25 Prospectus), within granted mining leases at Wandoo.
- Recent drill results: 6m at 11.1 g/t Au and 281 g/t Ag, 9m at 7.9 g/t Au and 51 g/t Ag and 19m at 2.9 g/t Au (27 Jan 26).
An Inferred resource is the lowest confidence JORC category, so further drilling is how a company builds confidence in what it has.
What did the Mt Gossan results show?
Assays were received for two holes completed at Mt Gossan in August 2026. Both were collared adjacent to the Mt Gossan breccia outcrop and drilled at a 60° inclination to the south, and both intersected mineralisation from surface.
Key intercepts
| Hole | Interval | Ag | Sn | In |
|---|---|---|---|---|
| MGC002 | **11m from 0m** | **10.4 g/t** | **0.20%** | **15.7 g/t** |
| MGC002 (including) | **1m from 2m** | **34.0 g/t** | **1.70%** | **101.0 g/t** |
| MGC001 | **27m from 0m** | **2.4 g/t** | Not reported | **4.4 g/t** |
The MGC002 11m intercept also returned 0.14 g/t Au, 0.05% Cu and 0.1% Pb. The 1m high-grade interval returned 0.77 g/t Au, 0.21% Cu and 0.9% Pb. MGC001 also returned 0.06% Cu.
Intercepts are interpreted to be close to true width, and are reported using a zero cut-off grade with a maximum of 2m internal dilution.
Why the zone matters
The mineralisation is interpreted to sit 14m below the Siberia Lode in MGC001 and 22m below it in MGC002. This new parallel zone returned anomalous metal values over broader widths than the Siberia Lode.
The company interprets the shallow, north-dipping mineralisation as a footwall repeat or breccia extension of the Siberia Lode.
One caution applies. The samples are from weathered rock, where copper is commonly depleted at Mt Gossan. Tin and indium are relatively immobile during weathering, so the company interprets them as a more reliable indicator of the zone’s location.
Further drilling is required to test continuity and grade in fresh rock, which is the key open question for you to watch.
How does magnetic inversion guide drill targeting?
Magnetic inversion is a way of turning magnetic survey data into a 3D model of magnetic bodies at depth. Here, airborne magnetic data acquired in 2007 at 100m line spacing was reprocessed to generate models for Mt Gossan and Siberia.
The models define a north-dipping magnetic body that projects to surface coincident with the Siberia Lode outcrop. The company interprets the anomaly as reflecting pyrrhotite associated with the mineralisation, and that it maps the depth extension of the Mt Gossan and Siberia mineralisation.
Supergene enrichment is the other concept worth knowing. Copper leaches from near-surface rock during weathering and is enriched at the base of weathering.
For investors, the historic drilling is the key point. It intersected the Siberia Lode on the strongest part of the magnetic anomaly but only targeted that lode, and did not continue deep enough to test the Mt Gossan mineralisation below it. The company says magnetic inversion provides a vector for further drill targeting.
The next major ASX story will hit our subscribers first
What happens next?
The announcement sets out the following sequence:
- Drilling is ongoing at Mt Wandoo, with first assay results expected in approximately 6-8 weeks.
- A planned change from a truck-mounted to a track-mounted drill rig is scheduled for mid to late October.
- Drilling is expected to commence at Copper Hills in approximately three weeks, with three holes planned to test for material extensions to the high-grade copper-silver-tin core of the main lode.
- The rig will then undertake maiden drilling at Elizabeth Bluffs to test the copper-silver-tin mineralisation.
- The rig will return to Chillagoe to complete the Mt Wandoo program.
The Herberton Conductor Metals Project is located 100km west of Cairns, Queensland. It lies within the Cu-Ag-Sn-In metal zone, elements the company describes as leveraged to future facing electrification and AI data centre metal demand, and the tenements are unexplored in the modern era.
The company is currently assessing its drilling priorities beyond those already announced and will update the market in due course.
Don’t Miss the Next ASX Gold and Copper Breakout
Join 30,000+ investors receiving FREE breaking ASX mining news within minutes of release, complete with in-depth analysis and the full announcement. Click the “Free Alerts” button at Big News Blast to get market-moving gold and copper news in your inbox the moment it breaks.