Maverick Minerals Eyes 5,000m Copper Drill Program at Pokali East in Q4 2026
Key Takeaways
- Maverick Minerals (ASX: M96) has announced a 3,000m to 5,000m RC and Aircore drill program at Pokali East, targeting Q4 CY2026, designed to extend a confirmed 1.2km copper corridor open along strike and at depth beyond 300m.
- Historical drilling by Rincon Resources returned standout intercepts including 212m @ 0.23% Cu from 2m and a high-grade hit of 4m @ 3.87% Cu — all five holes in the 2024 program returned significant copper results.
- The mineralised corridor hosts sub-vertical, shear-hosted copper lodes grading above 1.0% Cu with multi-element credits including gold, silver, bismuth, and cobalt, consistent with an IOCG-style system.
- 26 rockchip samples from Pokali East returned grades above 1% Cu, with a peak assay of 17% Cu, supporting the surface expression of the mineralised system ahead of drilling.
- Maverick has appointed Paul Frawley as General Manager, Exploration (effective 31 August 2026), with the stated goal of advancing toward a maiden JORC Mineral Resource Estimate at Pokali East.
Maverick targets Pokali East copper corridor with up to 5,000m drill program
Maverick Minerals Australia (ASX: M96) has announced plans to commence a 3,000m to 5,000m Reverse Circulation (RC) and/or Aircore drilling program at its Pokali East copper target, within the company’s 90%-owned West Arunta Project in Western Australia. The program, which is targeted for Q4 CY2026 (subject to heritage survey clearance, native title consultation, and drill contractor scheduling), builds directly on historical drilling completed by former project owner Rincon Resources (ASX: RCR) that returned standout copper intercepts — including 212m @ 0.23% Cu from 2m in hole 24WARC026.
Maverick acquired a 90% interest in Lyza Mining Pty Ltd, the holder of the West Arunta Project, from Rincon Resources, with Rincon retaining a 10% free-carried joint venture interest until a development decision is made.
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What Rincon’s 2024 drilling revealed at Pokali East
In 2024, Rincon completed a five-hole infill and validation RC drilling program at Pokali East (holes 24WARC026 to 24WARC030), designed to twin historical intersections, confirm the sub-vertical orientation of high-grade copper lodes, and collect geochemical data to support IOCG alteration mapping. All five holes returned significant copper results.
The program confirmed sub-vertically oriented, shear-hosted copper lodes grading above 1.0% Cu within a broad mineralised structural corridor. That corridor extends at least 1.2km along strike and remains open both along strike to the north-west and south-east, and at depth beyond approximately 300m. These results were first reported by Rincon Resources Limited (ASX: RCR) in its ASX announcement dated 2 October 2024. Maverick confirms it is not aware of any new information or data that materially affects the information contained in that announcement.
Key intercepts from historical drilling
- 212m @ 0.23% Cu from 2m (plus Au, Ag, Bi and Co credits) — hole 24WARC026
- 4m @ 3.87% Cu, 0.6g/t Au, 4.1g/t Ag, 1,762ppm Bi, 83ppm Co from 48m, within 62m @ 0.35% Cu from 34m — hole 24WARC028
- 8m @ 1.23% Cu, 0.1g/t Au, 0.9g/t Ag, 116ppm Bi, 145ppm Co from 178m, within 28m @ 0.55% Cu from 164m — hole 24WARC029
- 4m @ 1.05% Cu, 1.0g/t Ag, 74ppm Co from 184m, within 58m @ 0.35% Cu from 178m — hole 24WARC027
- 4m @ 1.04% Cu, 0.2g/t Au, 2.5g/t Ag, 715ppm Bi, 125ppm Co from 34m, within 14m @ 0.41% Cu from 34m — hole 24WARC030
| Hole ID | From (m) | Interval (m) | Grade (% Cu) | Notable Credits |
|---|---|---|---|---|
| 24WARC026 | 2m | 212m | 0.23% Cu | Au, Ag, Bi, Co credits |
| 24WARC028 | 48m | 4m (within 62m @ 0.35% from 34m) | 3.87% Cu | 0.6g/t Au, 4.1g/t Ag, 1,762ppm Bi, 83ppm Co |
| 24WARC029 | 178m | 8m (within 28m @ 0.55% from 164m) | 1.23% Cu | 0.1g/t Au, 0.9g/t Ag, 116ppm Bi, 145ppm Co |
| 24WARC027 | 184m | 4m (within 58m @ 0.35% from 178m) | 1.05% Cu | 1.0g/t Ag, 74ppm Co |
| 24WARC030 | 34m | 4m (within 14m @ 0.41% from 34m) | 1.04% Cu | 0.2g/t Au, 2.5g/t Ag, 715ppm Bi, 125ppm Co |
Source: Rincon Resources Limited, ASX announcement dated 2 October 2024. Historical exploration results reproduced with attribution.
What copper mineralisation means for investors — and why IOCG systems matter
Iron Oxide Copper-Gold (IOCG) mineralisation refers to a style of deposit where copper and gold occur in association with iron oxide minerals (such as magnetite and haematite), typically hosted within structural corridors and associated with large igneous intrusions. IOCG systems are commercially significant because they can host large, bulk-tonnage copper resources with multi-element credits — gold, silver, bismuth and cobalt — that add considerable economic value alongside the primary copper grade. The West Arunta Project is prospective for this style of mineralisation across multiple target areas.
A JORC Mineral Resource Estimate is a formally defined quantity of mineralisation that meets the standards of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 Edition). Defining a maiden JORC Resource is a meaningful de-risking milestone: it converts exploration data into a classified and publicly reportable inventory, which underpins project economics and attracts institutional interest. Maverick’s stated goal is to work towards a maiden JORC Mineral Resource Estimate at Pokali East. With mineralisation confirmed as shallow, open along strike in both directions, and open at depth beyond approximately 300m, the structural setting for resource growth is well established — though further exploration, drilling and analysis is required before any resource determination can be reached.
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Program design and the path to a maiden resource
Maverick’s planned drill program takes a two-pronged approach, with each component targeting a distinct strategic objective:
- RC drilling — to test priority open extensions of the high-grade copper corridor along strike (to the north-west and south-east of existing drilling) and at depth beyond 300m, targeting continuity of the sub-vertical, shear-hosted lodes previously intersected by Rincon.
- Aircore drilling — deployed as a cost-effective first-pass tool to extend geochemical and lithological coverage across the broader mineralised corridor and adjacent untested structures, guiding follow-up RC targeting.
Final hole numbers, spacing, depths, and the RC/Aircore split will be confirmed following completion of program design. That design incorporates 3D gravity, magnetic and induced polarisation (IP) geophysical models compiled over Pokali East, together with historical rockchip and soil sampling assays. Notably, 26 rockchip samples from Pokali East returned grades above 1% Cu, with a peak assay of 17% Cu. The program represents the first phase of Maverick’s strategy to define a maiden JORC Mineral Resource Estimate at Pokali East and is expected to be followed by further resource-definition and step-out drilling, subject to results.
To lead this technical effort, Maverick has appointed Paul Frawley as General Manager, Exploration (effective 31 August 2026), with an immediate focus on accelerating exploration across the West Arunta landholding.
Philip Re, Executive Director, Maverick Minerals Australia
“Pokali East is one of the most compelling copper targets we have seen, and it was a primary reason we moved to acquire the West Arunta Project from Rincon. Historical drilling has already delivered outstanding results, including a 212 metre intercept at 0.23% copper from near-surface, together with a series of high-grade zones grading above 1% copper. Importantly, this mineralisation remains open along strike and at depth, with several priority targets never assessed.
Now that we have Paul Frawley on board leading our technical team, we are moving quickly to get a rig turning at Pokali East, and we look forward to updating the market as this program progresses.”
Upcoming milestones
- Finalise drill program design incorporating updated geophysical targeting
- Complete heritage survey clearance and native title consultation
- Mobilise drilling contractor to Pokali East, targeted for Q4 CY2026
- Report assay results and program updates to the market as they are received
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