Hamelin Gold Advances Venus Project with High-Grade Gold Discovery

Hamelin Gold Accelerates Venus Project Activities with High-Grade Discovery

Hamelin Gold Limited (ASX:HMG) has announced significant developments at its 300 km² Venus Gold Project in Western Australia's renowned Murchison gold district. The company is advancing multiple exploration initiatives that could substantially enhance the project's value proposition for investors seeking exposure to quality gold exploration opportunities.

The latest ASX announcement reveals that Hamelin has identified high-grade gold mineralisation at the newly named Magellan prospect, with standout results including 5 metres at 2.95g/t Au from 100 metres to end of hole. Furthermore, this discovery contains 1 metre at 9.42g/t Au, positioning Venus as a key focus for the company in 2026.

This discovery, combined with an expanded geochemical footprint and upcoming detailed surveys, demonstrates the significant potential within Hamelin Gold's Venus Project.

Discovery at Magellan Prospect Shows High-Grade Potential

Historical data compilation has revealed a zone of high-grade gold mineralisation along Venus's western boundary, now designated as the Magellan prospect. The prospect demonstrates significant potential with multiple intersections showing mineralisation at depth.

Moreover, the mineralisation occurs in end-of-hole zones associated with quartz veining and sheared banded iron formation. This suggests the drilling reached the top of a potentially more substantial mineralised system.

Key Drilling Results at Magellan

Two diamond drill holes (LAD001 and LAD002) spaced 40 metres apart also intersected gold mineralisation. However, their positioning appears to have missed the optimal target zones, indicating potential for improved targeting in future programs.

Managing Director Peter Bewick commented: "The compilation of historical exploration data has highlighted the high grade potential that exists on this project. The Venus Gold Project is shaping as a key focus for Hamelin in 2026."

Extensive Geochemical Success Extends Comet Mine Corridor

Hamelin Gold's Venus Project has achieved a significant breakthrough through surface soil sampling, geochemically mapping a 6-kilometre extension of the geological sequence that hosts the neighbouring Comet Gold Mine. The Comet Gold Mine is owned by Westgold Resources (ASX:WGX), providing validation of the area's gold potential.

The Ultrafine analytical technique proved highly effective at "seeing through" shallow sand cover. Additionally, four reconnaissance soil lines confirmed the strike extension potential, prompting planning for a second phase of detailed sampling scheduled for February 2026.

Why This Matters for Investors

• Proven Technology: Ultrafine analysis successfully penetrated cover to identify bedrock geology
• Scale Expansion: The 6km corridor significantly enlarges the exploration target
• Proximity Advantage: Direct geological connection to an operating gold mine validates the area's potential

Understanding Airborne Geophysical Surveys in Gold Exploration

Airborne geophysical surveys measure variations in the Earth's magnetic and radiometric properties from aircraft flying at low altitude in systematic patterns. Different rock types have varying magnetic properties, allowing geologists to map geological structures and rock units beneath surface cover.

For gold exploration, these surveys are crucial because they identify structural corridors where gold-bearing fluids historically moved through rocks. In addition, they map geological contacts between different rock units where mineralisation often occurs.

They also reveal fault systems that can control gold deposit formation, making them invaluable tools for exploration targeting.

Hamelin has contracted Magspec to complete detailed airborne magnetic and radiometric coverage over the southern half of Venus. The survey will feature 50-metre flight line spacing, providing high-resolution data to facilitate new target generation and refine existing prospects for drill planning.

The survey will provide complete coverage when combined with existing open file data, creating a comprehensive geophysical database for the project. Consequently, this systematic approach ensures exploration activities can target the most prospective areas with confidence.

Strategic Location in Premier Gold District

Hamelin Gold's Venus Project sits in an exceptional position within the +15 million ounce Murchison goldfield, just 15 kilometres southeast of Cue. Furthermore, Hamelin has assembled one of the largest tenement positions in the Cue region, covering extensions of both the Tuckabianna and Comet gold corridors.

Competitive Advantages

Much of the tenement package lies beneath Lake Austin's sediments, which has limited historical exploration but preserved geological structures from weathering and surface disturbance. This presents a significant opportunity for discovery beneath shallow cover using modern exploration techniques.

What Makes the 2026 Program Pipeline So Compelling?

Hamelin has outlined a comprehensive exploration strategy for 2026 that builds systematically toward drill-ready targets across Hamelin Gold's Venus Project. The structured approach demonstrates management's commitment to maximising exploration effectiveness whilst minimising risk.

Immediate Activities (Q1 2026)

1. Detailed airborne magnetic survey completion (February)
2. Second phase soil sampling program across 6km corridor
3. 3D geological interpretation of Magellan prospect

Planned Future Work

• Aircore drilling across multiple structural and geochemical targets
• Heritage survey (March/April) to clear drill areas
• Integration of all datasets for optimal target definition

This methodical approach ensures each exploration dollar is invested with maximum geological understanding, reducing risk whilst maintaining strong upside potential. The systematic data collection creates a foundation for sustained exploration activity throughout 2026.

Investment Thesis: Why Venus Matters

Hamelin Gold's Venus Project represents a compelling exploration opportunity combining proven geological potential with modern exploration techniques in an underexplored district segment. The convergence of multiple positive factors creates a strong investment case for discerning investors.

Key Investment Drivers

1. High-Grade Discovery Confirmation

• Magellan prospect shows exceptional grades (up to 9.42g/t Au)
• Multiple mineralised zones suggest system-scale potential
• End-of-hole results indicate deeper targets remain untested

2. District-Scale Land Position

• 300 km² in prime Murchison location
• Direct geological connection to operating Comet Gold Mine
• Minimal historical exploration under lake cover creates opportunity

3. Technical Advantage

• Proven geochemical techniques successfully mapping through cover
• High-resolution geophysics providing detailed structural control
• Systematic approach building comprehensive geological understanding

4. Strong Corporate Position

• Well-funded exploration programs
• Experienced management with Murchison district knowledge
• Strategic shareholders including Gold Fields Limited

Why Should Investors Track Hamelin Gold Now?

Hamelin Gold's Venus Project demonstrates all the characteristics investors seek in an early-stage gold exploration play. These include high-grade potential, district-scale opportunity, and systematic exploration approach in a proven gold province.

With multiple catalysts approaching in Q1 2026 including airborne magnetic results, expanded soil sampling, and drill target definition, Venus could rapidly advance from early-stage exploration to drill-ready prospect development. This acceleration timeline provides clear value inflection points for investors to monitor.

The combination of historical high-grade intersections, successful geochemical extension, and strategic location within the Murchison goldfield creates a compelling narrative for potential resource discovery. Moreover, management's systematic approach to data collection and target generation positions the company to make informed drilling decisions when programs commence.

Key Takeaway: Hamelin Gold has positioned itself as a significant Murchison district player, with the Venus Project offering exceptional discovery potential. The convergence of high-grade historical results, expanded geochemical footprint, and systematic 2026 exploration program makes HMG a stock to watch closely as results emerge.

Upcoming Catalysts:

• Airborne magnetic survey results (February 2026)
• Phase 2 soil sampling results (Q1 2026)
• Drill program commencement (mid-2026)
• Heritage survey completion enabling drill access

The structured approach to exploration, combined with the project's location in a world-class gold district, creates multiple opportunities for value creation as the 2026 program advances. Consequently, investors seeking exposure to quality gold exploration opportunities should monitor Hamelin Gold's Venus Project developments closely.

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