MB Gold Awarded Up to $220K Government Grant for Murphy Well Drilling
Key Takeaways
- MB Gold has won up to $220,000 in Western Australian EIS co-funding for its maiden Murphy Well diamond drilling program, its second grant this year after $100,000 in April 2026.
- A 2,000m diamond campaign with contractor DDH1 starts in early November 2026, with assay results expected in Q1 2027.
- Three high-priority chargeability anomalies from the DDIP survey, none tested by historical drilling, define the drill targets.
- Historical Murphy Well results include 1m at 9.92g/t Au from 341m and 5m at 1.1g/t Au from 219m, though the new program targets separate anomalies.
- The announcement does not state what share of total program cost the grant covers, and the anomalies remain a hypothesis until assays confirm them.
Second EIS grant of up to $220,000 funds Murphy Well diamond drilling
MB Gold (ASX: MBG) has been awarded co-funding of up to $220,000 under the Government of Western Australia’s Exploration Incentive Scheme (EIS) Co-funded Drilling Program. The money supports the maiden diamond drilling program at the Murphy Well Prospect, part of the Marble Bar Gold Project in the Pilbara region of Western Australia.
It is the company’s second successful EIS application this year. The first was $100,000 in co-funding awarded in April 2026 for the Dipole-Dipole Induced Polarisation (DDIP) survey, which was completed over Murphy Well in July.
Key highlights from the announcement:
- EIS co-funding of up to $220,000 for the maiden diamond drilling program at Murphy Well
- A 2,000m diamond drilling campaign, with contractor DDH1 scheduled to start in November 2026
- Assay results expected in Q1 2027
External co-funding can reduce what a company spends from its own funds to test priority targets. For you as an investor, it also means a government-backed scheme has supported the exploration work, though the announcement does not state what share of total program cost the grant covers.
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Three untested chargeability anomalies define the drill targets
What the DDIP survey found
Data processing and target generation by geophysics contractor Terra Resources identified three high-priority chargeability anomalies. They sit within and near the edge of the Murphy Well Granodiorite, including deep targets along its margin.
The company says these anomalies may represent sulphide accumulation associated with an intrusion-related or structural gold and base metal system. That is a hypothesis for drilling to test, not a confirmed result.
The anomalies have not been tested by historical drilling, which the company describes as providing immediate, high-conviction drill targets.
Previous drilling results
Earlier drilling at Murphy Well in 2023 and 2024 intersected sericite alteration, trace disseminated sulphides and quartz veining across broad intervals. The best results, sourced from the 4 February 2026 Prospectus, are below.
| Hole | Interval | Gold | Silver / Lead / Zinc | Depth from |
|---|---|---|---|---|
| MBRC0608 | **5m** | **1.1g/t Au** | 15g/t Ag, 0.3% Pb, 0.23% Zn | **219m** |
| MWDD002 | **1m** | **9.92g/t Au** | 39g/t Ag, 0.45% Pb, 2% Zn | **341m** |
These are historical results from different drill holes. The new program aims to test the separate, newly identified anomalies.
How induced polarisation guides drill targeting
Induced polarisation is a geophysical survey method. A DDIP survey measures how well the ground holds an electrical charge, known as chargeability.
Sulphide minerals tend to produce higher chargeability readings, so a chargeability anomaly can point to possible sulphide accumulation. Sulphides can be associated with gold and base metal systems, which is why the company is interested in these zones.
A survey only indicates where to look, and drilling is what tests the idea. Diamond drilling recovers solid core from depth, and CEO Logan Barber flagged that the program will gather “critical structural and metallurgical data” alongside testing the anomalies.
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Drilling timeline and what investors can watch
The announcement sets out a clear sequence:
- Early November 2026: drilling starts with DDH1 (2,000m campaign)
- December and January: core processing
- Q1 2027: assay results anticipated
Logan Barber, Executive Director and CEO
“It allows us to test our priority chargeability anomalies at depth, while gathering critical structural and metallurgical data.”
The Marble Bar Gold Project has a 12km strike length of gold-in-soil geochemical anomalies. It sits 150km from Port Hedland and 60km from AIM Mining Corporation’s Warrawoona Operations.
For investors, the path is simple to track: drilling begins, core is processed, then assays follow. Results are not guaranteed, and the company’s disclaimer notes that forward-looking statements are subject to risks and uncertainties, so the assays will be the real test of these targets.
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