Altair Minerals Launches 75,000-Metre Gold Drilling Campaign at Greater Oko

Altair Minerals Unveils 75,000-Metre Drilling Programme Across Guyana's Greater Oko Project

The Altair Minerals Guyana gold drilling campaign at Greater Oko represents one of the most ambitious inaugural exploration efforts seen in the country. Altair Minerals (ASX: ALR) has announced an upscaled exploration strategy at its Greater Oko project in Guyana, outlining a 75,000-metre combined drilling programme backed by a pro-forma cash position of approximately $38 million. The programme is fully funded and set to deploy across five target districts over the next 18 months.

According to the announcement dated 16 July 2026, the plan marks a step-change in the company's operational scale, moving from systematic geochemistry work into a multi-rig, multi-district drilling effort across its Guyana landholding.

"Our updated exploration plan was designed with the objective of uncovering multiple world-class discoveries across the unparalleled Greater Oko land package, which is at the forefront of our long-term strategy," said Faheem Ahmed, CEO of Altair Minerals.

The Drilling Allocation: 75,000 Metres Across Five Districts

The scale of the programme is central to the announcement. Altair has structured its drill allocation across three primary categories, split between diamond drilling (DD) and Reverse Circulation (RC) drilling.

To execute the programme, the company has secured two new RC drill rigs to work alongside its existing diamond rig, with one RC rig destined for SOKO and one for North Peters. Furthermore, the company has upgraded its previous Rotary Air Blast (RAB) rig at North Peters to RC, which management says will deliver improvements in depth penetration, drilling efficiency and sample quality.

Supporting infrastructure has reportedly been expanded to match the increased scale, including additional machinery such as a dozer, all-terrain vehicles and a second excavator. Accommodation has been expanded at both the SOKO and NP main camps, and three additional regional field camps have been established. In addition, the technical team has been strengthened with two senior geologists with prior experience in the Oko district, supported by around 20 new field personnel.

Understanding RC Drilling and Why the Upgrade Matters

Reverse Circulation (RC) drilling is a method that uses a rotating drill bit to crush rock, with compressed air forcing rock chips back to the surface through the inside of the drill rods. This produces a clean rock chip sample from depth and is generally faster than older methods such as RAB drilling.

The distinction is relevant for investors for several reasons. RC samples are less prone to contamination, which can support more reliable assay results. RC drilling also achieves greater depth penetration, effectively testing targets to 50 metres or more compared with the shallower capability of RAB. Faster sample turnaround also means more metres can potentially be drilled per day, which may improve the efficiency of the overall exploration budget.

Key Terms Used in the Announcement

• RC Drilling: Reverse Circulation drilling, producing rock chip samples
• Diamond Drilling (DD): Core drilling that extracts a continuous cylinder of rock, generally slower but capable of producing more detailed geological information for deeper targets
• RAB Drilling: Rotary Air Blast, a shallow drilling method being phased out at North Peters in favour of RC
• LiDAR: Light Detection and Ranging, an aerial survey technology using laser pulses to map terrain, structure and geology
• BLEG: Bulk Leach Extractable Gold, a stream sediment sampling technique used to detect gold anomalies across large areas
• Saprolite: Deeply weathered rock that retains the texture of the parent rock; saprolite gold pits can indicate a nearby primary gold source
• Duricrust: A hardened surface layer formed through weathering, which RC drilling is used to test beneath
• Greenstone Belt: Ancient volcanic and sedimentary rock sequences recognised globally as prospective hosts for gold deposits

North Peters: Validation Drilling Under Way

Diamond drilling at North Peters is reported to be commencing imminently, targeting 10,000 metres in total. The initial Phase I programme consists of 5,600 metres of infill diamond drilling focused on the north-northwest border of the known mineralised zone, with three stated objectives: validating historical high-grade zones, improving understanding of the controls on mineralisation, and identifying host geology and potential extensions.

RC drilling at North Peters will focus on the south-east border, targeting shallower historic mineralisation considered more suitable for RC methods. According to the announcement, North Peters has previously returned intercepts of 85m at 4.81g/t gold and 89m at 2.40g/t gold. The upcoming campaign is designed to test whether these results form part of a larger mineralised system and to establish the structural controls governing high-grade distribution.

South Oko: The Largest Allocation in the Programme

SOKO has received the largest drill allocation at 45,000 metres of combined RC and diamond drilling. The inaugural RC programme is expected to commence in August, with drill lines spaced 300 to 400 metres apart and hole spacing of 70 metres, targeting an average depth of 50 metres to test the W1 and W3 geochemical zones.

Several exploration indicators are reported to support the SOKO target. Over 1,000 additional soil samples have been collected to extend coverage along the southern extension of the Oko Shear, and auger infill drilling is under way to help define anomalous zones. Three field camps are now operating to support the regional campaign.

The announcement also describes a major east-west alluvial gold channel between Target Zones 1 and 2, which the company suggests may indicate an undiscovered primary source feeding into the channel. Benched saprolite gold pits have also been identified at SOKO. Unlike alluvial workings, where gold has been transported by water, saprolite pits form directly above or adjacent to a primary gold source, and their presence is considered a further indicator of prospectivity, though this remains subject to confirmation through drilling.

Three New Regional Districts Add to the Exploration Pipeline

Alongside SOKO and North Peters, Altair has defined three additional regional targets intended to be developed in parallel with the main drill programmes.

Kmung

Only 11 historic holes have been drilled at Kmung, with the two highest-grade results coming from holes collared directly on the granite-mafic greenstone contact. That contact reportedly extends a further 10 kilometres along strike and remains untested, with consistent stream sediment anomalies noted along its length.

Mara-Mara

Located approximately 8 kilometres northwest of North Peters, Mara-Mara sits on the same regional structure the company associates with high-grade mineralisation at NP. The target hosts what the announcement describes as the second-highest known BLEG stream sediment anomaly in Guyana at 1,070ppb gold, alongside a remote intercept of 24m at 1.28g/t gold reported along strike.

East Puruni

East Puruni's structural setting is described as mirroring the Oko deposit, sitting on a contact between mafic and intermediate greenstone and a granite pluton with a major cross-cutting fault. A cluster of stream sediment anomalies with a peak value of 1,300ppb gold has been identified in the area.

LiDAR Survey to Support District-Wide Interpretation

A LiDAR survey covering more than 400 square kilometres is expected to commence in early August. The company describes this as set to provide the largest LiDAR dataset it holds in the country. The survey is intended to support geological interpretation of ongoing drill programmes by mapping structures, lithologies, alluvial fields, access routes and terrain, while also feeding target generation across the wider Greater Oko landholding.

Guyana's Position Within the Guiana Shield

Guyana's geology is described in the announcement as an extension of the West African Birimian Greenstone Belt, the same geological province hosting deposits across Ghana, Ivory Coast and Burkina Faso. Consequently, the company notes that Guyana remains comparatively underexplored relative to its African equivalent.

Recent transaction activity in the region has been cited as context for the sector's development:

Altair's 590 square kilometre contiguous landholding at Greater Oko is located within this same greenstone belt and approximately 1.5 kilometres from a 5.9 million ounce deposit that the company notes is expected to enter production within the next 18 months.

Upcoming Milestones

Why the Announcement Matters for Investors

Several factors from the announcement are relevant to investors monitoring Altair's progress. The scale of this Altair Minerals Guyana gold drilling campaign at Greater Oko is unusual for a small-cap ASX explorer at the inaugural drilling stage, reflecting the operational capacity the company has built up during the preceding period.

The company states it holds approximately $38 million in pro-forma cash following Endeavour Mining's investment, which management indicates supports execution of the full programme. Rather than concentrating drilling on a single target, Altair is progressing five separate districts in parallel, each representing an independent exploration opportunity.

The company has pointed to a range of exploration indicators across its tenure, including the saprolite pits at SOKO, high-grade contact mineralisation at Kmung, the BLEG anomaly at Mara-Mara, and historic intercepts at North Peters. Recent M&A activity involving neighbouring companies on the Guiana Shield has also been referenced as broader context for the region's exploration interest, however, this does not guarantee similar outcomes for Altair's own project.

According to the announcement, management used the seasonal wet period to strengthen geological interpretation, secure additional drill rigs, expand the technical team and build camp infrastructure ahead of the campaign. With the Altair Minerals Guyana gold drilling campaign at Greater Oko now entering its active phase, the coming months are set to bring a series of drilling updates across all five target districts.

Ready to Follow Altair Minerals' 75,000-Metre Drilling Campaign at Greater Oko?

With five target districts advancing in parallel, $38 million in pro-forma cash, and diamond drilling at North Peters commencing imminently, Altair Minerals (ASX: ALR) is entering one of the most active phases in its exploration history. To learn more about the Greater Oko project, the company's Guyana strategy, and upcoming drilling milestones, visit altairminerals.com.au.