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Accelerate Resources Ltd. ( (AU:AX8) ) has provided an announcement.
Accelerate Resources reported a strong March quarter as it advanced a dual-growth strategy across its Balagundi gold and Woodie Woodie North manganese projects in Western Australia. The company ended the period with $1.408 million in cash and highlighted new exploration results that underscore the scale potential of both assets.
At Balagundi, Phase 1 reverse circulation and aircore drilling at the Paris Gift and newly defined Delta trends confirmed continuous gold mineralisation over hundreds of metres of strike. Follow-up Phase 2 drilling delivered further shallow, near-surface gold intercepts, reinforcing the project’s prospectivity and supporting a model of higher-grade shoots along multiple mineralised corridors.
At Woodie Woodie North, rock chip sampling delivered manganese grades of up to 59.4% and 56.8%, substantially higher than the existing resource grade. These results point to the emergence of a new high-grade surface manganese hub across the Gingarrigan and El Largo corridors, potentially strengthening the company’s position in the manganese exploration space.
More about Accelerate Resources Ltd.
Accelerate Resources Ltd. is an Australian exploration company focused on high-grade gold and manganese projects in Western Australia. Its key assets include the Balagundi Gold Project near Kalgoorlie and the Woodie Woodie North Manganese Project in the Pilbara, targeting near-surface, high-grade mineralisation with potential for multiple mineralised corridors.
Technical Sentiment Signal: Sell
Current Market Cap: A$7.08M
Learn more about AX8 stock on TipRanks’ Stock Analysis page.