Unity Metals Extends Northeast Gold Zone; Phase 2 Targets Larger O’Phlay Prospects
Key Takeaways
- Hole 26DDCM007, drilled 35m northeast of the original discovery holes, confirms the O'Phlay stockwork gold zone continues in that direction and remains open at both depth and to the northeast, extending the known mineralised footprint.
- Across three holes drilled into the Camp stockwork zone (26DDCM001, 26DDCM005, and 26DDCM007), the weighted average grade is 1.2 g/t gold across an approximately 50m wide zone from surface to at least 230m depth.
- A 19x magnetic susceptibility contrast between mineralised and unaltered diorite gives Unity a systematic, airborne-detectable targeting tool to identify look-alike zones across the broader O'Phlay Project.
- Phase 2 drilling (20 holes total) targets multiple new demagnetised zone prospects including Toulsroloav and Small Creek, where historical rock chip sampling returned grades up to 37.1 g/t gold — reportedly larger anomalies than the Camp zone already drilled.
- Unity is fully funded for Phase 2 following a $3.5m placement, with drilling set to recommence mid-October 2026 and assay results expected progressively through Q4 2026.
Camp Prospect drilling confirms northeast strike extension at O’Phlay
New drill results from Unity Metals (ASX: UM1) have extended the known strike length of the broad stockwork vein gold zone discovered earlier in 2026 at the O’Phlay Gold Project in Cambodia. Hole 26DDCM007, drilled 35m northeast of previously reported holes, has returned multiple gold intersections confirming the zone continues in that direction and remains open at both depth and to the northeast.
The key intercepts from 26DDCM007 include:
- 1m @ 10.2 g/t gold from 20.6m
- 29m @ 0.5 g/t gold from 72.0m, including 3m @ 2.2 g/t gold from 73.0m
- 3m @ 1.5 g/t gold from 114.0m
These results sit within an approximately 50m wide (true width) continuation of the gold-bearing stockwork vein zone hosted in a diorite intrusion, extending from surface to at least 230m depth. Previously reported holes 26DDCM001 (40m @ 1.9 g/t gold, reported 24 July 2026) and 26DDCM005 (70.4m @ 1.1 g/t gold, reported 2 September 2026) established the initial discovery. Across the three holes drilled into the stockwork vein gold zone to date (26DDCM001, 005, and 007), the weighted average grade is 1.2 g/t gold.
The geological cross-section at Section 10,020mN (Figure 1 in the announcement) visually illustrates the mineralised envelope continuing to depth and to the northeast. Hole 26DDCM006, drilled 45m southwest of 26DDCM001 and 005, returned no significant gold, suggesting the southwest boundary of the stockwork mineralisation has been broadly defined, or that it extends in a more westerly direction between holes 26DDCM005 and 26DDCM006.
The magnetic susceptibility measurements from 26DDCM007 reinforce a key exploration signal: readings in the altered diorite and stockwork mineralised core average 1.2 x 10⁻³ SI units, compared to 23 x 10⁻³ SI units in the adjacent unaltered diorite. That contrast is significant for Phase 2 targeting, as explained below.
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What is a stockwork vein gold system — and why does scale matter?
Understanding what makes the O’Phlay discovery geologically interesting requires a brief explanation of the deposit type.
A stockwork vein gold system is a network of closely spaced, intersecting gold-bearing quartz veins distributed through a host rock (here, a diorite intrusion), rather than a single narrow vein. Instead of one discrete high-grade shoot, the gold is spread across a broader volume of rock laced with these intersecting veinlets.
This architecture matters for investors because broad, consistent stockwork zones can support bulk-tonnage mining models even at lower average grades. The intercepts at Camp range from narrow high-grade hits to wide lower-grade intervals — that combination is characteristic of this deposit style.
The table below defines a few terms that appear throughout the announcement:
| Term | What it means for investors |
|---|---|
| Stockwork zone | A volume of rock laced with intersecting gold-bearing veins — broader than a single vein and potentially minable at scale |
| Open at depth and strike | The mineralised zone has not been closed off by drilling in those directions — further holes have the potential to extend the known footprint |
| Demagnetised zone | An area where gold-bearing alteration has destroyed magnetite in the host rock, creating a measurable “magnetic low” that can be detected from the air and used as a drill target |
| Weighted average grade | The overall average gold grade across multiple intercepts, accounting for the width of each — a more representative measure of zone quality than any single result |
The magnetic susceptibility contrast is particularly useful at O’Phlay. The gold-bearing alteration destroys magnetite in the host diorite, creating a distinct magnetic low that the company can detect using airborne or drone-based magnetic surveys. That makes the demagnetised zone footprint a systematic, reproducible exploration tool — not just a one-off observation. Unity has identified multiple demagnetised zone targets across O’Phlay, several of which are considerably larger than the Camp anomaly already drilled, giving Phase 2 a clear scientific basis.
Phase 2 drilling targets a larger canvas
Camp Prospect follow-up holes
Two additional holes are planned at Camp Prospect to test extensions to the northeast and possibly to the west before the program shifts to the surrounding targets. Drilling is expected to recommence immediately after the Cambodian Pchum Ben Festival public holidays (10–12 October 2026), as confirmed by Managing Director Craig Mackay.
Toulsroloav and Small Creek — new demagnetised targets
Phase 2 also moves beyond Camp to test look-alike demagnetised zone targets across a much larger portion of the O’Phlay Project:
- Toulsroloav Prospect (800m WNW of Camp): 5 holes planned beneath the largest historical open pits at O’Phlay, associated with demagnetisation zones in the host diorite. Unity’s previous sampling returned rock chip gold results up to 28.5 g/t and 21.1 g/t gold.
- Small Creek Prospect (1.8km SW of Camp): 5 holes planned beneath a historical underground mine and several open pits. Interpreted demagnetisation zones trend NE-ENE. Rock chip sampling returned results up to 37.1 g/t, 27.5 g/t, and 24.3 g/t gold.
- 200m SSW of Camp: 2 holes planned to test an interpreted NE-trending demagnetised zone approximately 300m in extent, associated with gold-in-soil anomalism up to 380 ppb gold.
The remaining holes in the 20-hole Phase 2 program are planned to test additional demagnetisation targets across the region. Assays are expected to be released progressively through Q4 2026.
Craig Mackay, Founder and Managing Director, Unity Metals
“Our excitement over the O’Phlay gold discovery continues to build… The latest assays confirm that the gold mineralisation extends to the northeast and remains open in this direction and open at depth… We are particularly excited to kick off the first drilling on the surrounding look-alike demagnetised zone targets, some of which are much more extensive than the only magnetic low anomaly we have drilled so far at Camp. Some of these target areas are also associated with much larger historical mine workings, such as those at the Toulsrolaov Prospect, 800m west-northwest…”
Mackay also confirmed the operational transition: “The man-portable drilling rig we have been using at O’Phlay to date is being replaced with a track-mounted rig with the capacity to drill deeper holes should this need be required.”
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Funded and ready to drill
Following a recent $3.5m placement, Unity is well funded for the planned Phase 2 drilling program, which is scheduled to recommence in mid-October 2026. The access road to the project is presently being upgraded to improve travel times through the remainder of the monsoon season.
Unity is an ASX-listed SE Asia-focused gold and copper explorer with a portfolio of approximately 700km² across Cambodia and Thailand. The O’Phlay Project sits 63km ENE of Emerald Resources NL’s (ASX: EMR) Okvau Gold Mine, a 1.5Moz deposit and Cambodia’s largest gold mine. That proximity is noted for geological context only and does not imply Unity will replicate that outcome.
For investors following the story, the key near-term watch points are the rolling assay releases from Phase 2 drilling as each prospect is tested through Q4 2026. The combination of an open-ended discovery at Camp and several untested demagnetised targets that are reportedly larger than Camp gives the upcoming program a broader canvas than the initial Phase 1 work.
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