Neometals Logs No Significant Copper at Rinaldi as Water Halts Hole 50m Early
Opening summary
Neometals has reported no significant intersection from a 45-metre interval tested at its historic Rinaldi Copper prospect, marking a setback in the company’s exploration campaign at the 100%-owned Barrambie Gold Project in Western Australia’s Murchison Goldfield. Assays from 78m to 124m in RC drillhole 26RCRC006 returned no significant copper, gold or silver values, despite visual indicators that prompted accelerated testing. The hole was discontinued approximately 50 metres short of target depth due to water ingress, abandoned at 124 metres. Assays for the remaining 0m–78m interval are still pending, and management has scheduled a diamond drill tail for September 2026 to test the T2 dipole-dipole induced polarisation target that the RC hole failed to reach.
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What the drilling returned — and what’s still pending
The 45 samples selected for expedited analysis were chosen based on visual indicators — a broad quartz-pyrite zone and one individual metre showing weak 1% chalcopyrite. This subset represents approximately 12% of all drill samples collected from the July 2026 RC drilling program at the Rinaldi copper prospect. The source announcement makes clear this is not exhaustive and not necessarily representative of the hole or broader prospect. The hole was discontinued due to water ingress before reaching its planned depth.
| Interval (m) | Status | Copper | Gold/Silver | Note |
|---|---|---|---|---|
| 0–78m | Assays Pending | Pending | Pending | Ongoing analysis |
| 78–124m | NSI | No significant intersection | NSI | Selected on visual indicators |
Drillhole details from the programme:
- Hole ID: 26RCRC006
- Type: RC
- Dip: -55°
- Azimuth: 070°
- Final depth: 124m
- Location: E57/1041, 100%-owned granted Exploration Licence
Understanding the T2 DDIP target and IP geophysics
Dipole-dipole induced polarisation is a geophysical method that detects buried sulphide minerals by measuring chargeability in the ground. Sulphides like chalcopyrite and pyrite — the minerals associated with copper deposits — hold an electrical charge differently than barren rock, creating anomalies that can be modelled and targeted.
The T2 DDIP target is a modelled chargeability anomaly Neometals still wants to test at depth. The RC hole didn’t reach it. That is why the diamond tail matters. Geophysical targets guide drilling toward potential mineralisation. The T2 target remains untested, which gives the September drill tail material significance despite the NSI result from the RC hole.
Next steps: assays, diamond tail and surface programmes
Management has outlined a forward roadmap focused on completing the assay programme and testing the T2 target:
- Routine copper, gold and silver analysis of remaining 0m–78m samples from 26RCRC006 to be reported once received, compiled and validated.
- Gold analysis of 662 metres across five RC drill holes drilled at Ironclad — pending.
- A diamond drill tail planned for September 2026 to test the T2 DDIP target, subject to operational conditions and approvals.
- A detailed magnetic survey commencing this week.
- A soil geochemistry programme being designed to verify historic anomalous soils over and adjacent to the T2 target.
The broader Barrambie Gold context adds weight to the forward programme. The Ironclad deposit has an updated Mineral Resource Estimate, Scoping Study and a mining-contractor joint venture with 50:50 profit sharing — a potentially funded pathway to near-term development that keeps the gold project advancing while Rinaldi copper exploration continues.
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Why the wider Neometals story still matters to investors
Rinaldi is one thread within a diversified portfolio spanning gold, critical minerals and processing technology:
- Barrambie Gold Project (100% NMT) — camp-scale gold project with Ironclad development pathway
- Barrambie Titanium & Vanadium (100% NMT) — one of the world’s highest-grade hard-rock titanium deposits, currently in divestment process
- Utah Brine Project (51% NMT) — lithium and potassium brine project in Utah, USA, with exclusive access to inactive gas wells and existing infrastructure
- ELi Process™ lithium chemicals (70% NMT) — patented electrolysis technology targeting lowest-quartile cost production, with strategic MoU with Rio Tinto
- Vanadium Recovery (86.1% via Novana Oy) — hydrometallurgical processing technology, advancing project financing for first commercial plant in Pori, Finland
A single drillhole result — even a disappointing one — does not define the company’s exploration thesis or its broader asset base. The T2 target remains untested, the pending assays may yet return material results, and the diamond tail scheduled for September gives management a second shot at depth. For investors tracking Neometals, this is a disciplined exploration process playing out in real time, not a failed campaign.
Wondering What Neometals Is Planning Next at Barrambie?
Whilst the Rinaldi RC hole returned no significant intersection in the tested interval, the T2 DDIP target remains untested and a diamond tail is scheduled for September 2026. Pending assays, surface geochemistry and magnetic surveys are all underway as part of a broader exploration strategy across the 100%-owned Barrambie Gold Project.
For full details on Neometals’ upcoming drill programmes, pending assay results and the broader Barrambie exploration pipeline, visit the Neometals investor centre. The company’s latest announcements, project timelines and critical minerals portfolio are all updated in real time.