Resources & Energy Group Records Multiple Gold Intercepts at Goodenough
Key Takeaways
- All six holes drilled west-northwest of the existing Goodenough MRE returned near-surface gold mineralisation, confirming deposit extensions beyond the current resource boundary.
- The standout result — 9m @ 3.97 g/t Au from 141m, including 1m @ 25.5 g/t Au — was returned from drillhole 26GERC031 at the southeast edge of the program.
- Resampling of the previously unrecorded Unknown1 drillhole returned 5m @ 3.30 g/t Au from 72m, adding data that can now be incorporated into geological wireframing and the updated resource estimate.
- REZ has commenced an updated JORC 2012 Mineral Resource Estimate for Goodenough, underpinned by new drilling data and a project-wide LIDAR survey validation of the drillhole database.
- Mineralisation at Goodenough remains open at depth and to the south, with further drilling to the south and southwest flagged as the next exploration priority.
Multiple gold intercepts extend Goodenough deposit west-northwest
Resources & Energy Group Limited has received assay results from its nine-hole reverse circulation (RC) drilling program completed in April 2026 at the Goodenough Prospect, East Menzies Gold Project (EMGP), located approximately 130 km north of Kalgoorlie, Western Australia. The program totalled 798 metres drilled across nine holes, with the standout result from drillhole 26GERC031 returning 9m @ 3.97 g/t Au from 141m, including a high-grade sub-interval of 1m @ 25.5 g/t Au.
All six holes drilled west-northwest of the existing Goodenough Mineral Resource Estimate (MRE) returned near-surface gold mineralisation, confirming extensions beyond the current resource boundary. A further positive was the rediscovery of the pre-2012 “Unknown1” drillhole, for which resampling returned 5m @ 3.30 g/t Au from 72m, including 1m @ 11.6 g/t Au. Mineralisation at Goodenough remains open at depth and to the south.
The existing Goodenough MRE, announced in March 2026, stands at 1.36 Mt @ 1.4 g/t Au for 61,200 oz. The new drilling program is designed to grow beyond that baseline.
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Q4 FY26 drilling results at a glance
The table below summarises the significant gold intercepts from the April 2026 RC program at Goodenough.
| Hole ID | From (m) | Length (m) | Au Grade (g/t) | Area |
|---|---|---|---|---|
| 26GERC031 | 141 | 9 | 3.97 (incl. 1m @ 25.5 g/t Au) | Southeast edge — best result |
| 26GERC029 | 98 | 8 | 1.02 | Southeast edge |
| 26GERC029 | 42 | 1 | 2.64 | Southeast edge |
| 26GERC034 | 39 | 2 | 2.17 | West-northwest extension |
| Unknown1 | 72 | 5 | 3.30 (incl. 1m @ 11.6 g/t Au) | South edge / Four O’clock link |
The west-northwest extension holes (26GERC032 through 26GERC037) all returned near-surface intercepts across the area. Beyond 26GERC034’s 2m @ 2.17 g/t Au from 39m, other holes in the extension area recorded multiple lower-grade intervals, with results variable across the program, indicating further drilling to the south and southwest is required where mineralisation remains open.
What is a mineral resource estimate — and why does this drilling matter?
A JORC 2012 Mineral Resource Estimate is a formal, independently verified calculation of the quantity and grade of mineralisation that may be economically extracted, classified under the Australasian Joint Ore Reserves Committee (JORC) code. The JORC code is the industry-standard framework used by ASX-listed miners to report resource figures consistently and transparently.
Within a JORC resource, the Indicated category reflects mineralisation where there is sufficient geological data to confidently estimate grade, tonnage, and continuity. The Inferred category means the data is more limited and uncertainty is higher, but mineralisation is still considered to have reasonable prospects for eventual economic extraction.
The existing Goodenough MRE — 61,200 oz at 1.4 g/t Au — was established in March 2026 and represents the baseline REZ is working to expand. With all six west-northwest extension holes intersecting gold, the company now has the data needed to potentially incorporate that ground into an updated resource estimate.
Goodenough strike extensions confirmed in an earlier drill program established the deposit’s west-northwest trend as a priority corridor, providing the geological rationale that underpinned the April 2026 RC program design.
Near-surface gold is worth paying attention to for a specific reason: shallower mineralisation generally means lower strip ratios, the ratio of waste rock removed to ore extracted. Lower strip ratios are associated with more accessible open-pit mining economics. The announcement notes that historical small open-pit mining has already taken place at Goodenough, and open-pit optimisation work was completed as part of the March 2026 MRE process.
The Unknown1 drillhole adds another layer of interest. Because no logging or assay data existed for this pre-2012 hole, it could not previously be used in resource modelling. REZ notes the results will be used in geological interpretation and wireframing, and a twin hole is planned at this location in future drill campaigns. Key geological context from the program includes:
- Mineralisation is hosted in a south-plunging pyritic cherty band (Domain 1), structurally controlled
- Gold has been recorded in drill samples to depths of 150m
- Mineralisation remains open at depth and to the south
- Multiple lode domains have been interpreted in the hanging wall above Domain 1
Database validation adds confidence ahead of updated resource estimate
Before releasing these results, REZ completed a project-wide validation of its drillhole database against a newly flown LIDAR survey. LIDAR (Light Detection and Ranging) is an aerial survey technique that produces highly accurate three-dimensional terrain data, allowing drill collar heights to be precisely matched against actual surface elevation.
Many historical drill collar locations across the EMGP have now been matched in the vertical plane to this LIDAR data. The validation work took additional time to complete, but the resulting dataset and geological understanding are described by the company as materially more robust. REZ notes this will improve the accuracy of future MRE inputs, reduce development risk at Goodenough, and assist targeted exploration across other prospects and anomalies within the broader EMGP.
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MD’s comments and what comes next for REZ
Managing Director and CEO J. Daniel Moore commented on the results:
J. Daniel Moore, Managing Director and CEO
“We are delighted to see these drill results from our Goodenough prospect. Multiple new near-surface intercepts outside the current mineral resource estimate give us confidence we can grow the Goodenough deposit. This focused drill program at Goodenough has confirmed extensions of gold mineralisation to the west-northwest of the mineral resource and verified significant gold grades along the interpreted extension of a synform plunging to the south. The discovery of additional near-surface gold mineralisation at Goodenough is an exciting development for the company, elevating the prospect’s commercial appeal and sharpening our focus on unlocking its value.”
With positive drilling results in hand and the validated database now complete, REZ has outlined two clear next steps:
- Commencement of an updated JORC 2012 Mineral Resource Estimate for Goodenough, incorporating new drilling and assay data and the LIDAR survey
- Assessment of near-term development and mining restart opportunities at Goodenough
Goodenough is the near-term focus, but it sits within a considerably larger project. The EMGP hosts multiple deposits across the tenement package, including Gigante Grande at 40,700 oz Au, Maranoa at 8,000 oz Au, and Granny Venn at 3,000 oz Au. Alongside these, the Gigante Grande Central Domain carries an Exploration Target of 160,000 oz to 500,000 oz Au (JORC 2012). The updated Goodenough MRE, when completed, will represent one component of this broader multi-deposit project.
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