Constellation Resources Confirms Copper-Gold Hits Along Meenar Shear at Ularring

Constellation Resources Confirms Copper-Gold Hits at Ularring, Opening Up a New Front Along the Meenar Shear

Constellation Resources Limited (ASX: CNR) has returned anomalous copper-gold intercepts from its maiden reverse circulation drilling program at the Chatham Prospects, part of the company's 100% owned Ularring Copper Gold Project in Western Australia. These Constellation Resources copper gold hits at Ularring Meenar Shear results mark the first time drilling has tested this section of the regionally significant Meenar Shear, and they confirm that the surface geochemical anomalies identified in earlier work have a meaningful subsurface expression.

The headline intercepts from the program are:

• 7m @ 0.25% Cu and 0.04g/t Au from surface in drillhole CHR001
• 15m @ 0.22% Cu and 0.08g/t Au from surface in drillhole CHR004

Both intercepts are shallow, starting at surface and ending within the weathered zone near the granite-greenstone contact interpreted as the Meenar Shear. Critically, the mineralisation remains open along strike, and the program did not test below the base of oxidation, meaning fresh rock potential at depth is entirely untested.

The Chatham Prospect sits 35km south of Caravel Minerals' Caravel Copper Project (583.4Mt @ 0.24% Cu for 1.4Mt of contained copper) and 22km south of Chalice Mining's Deep Blue copper-rare earth target, placing Ularring in an active and increasingly well-recognised part of the Western Australian copper-gold exploration landscape.

What the Chatham Drill Program Was Designed to Do

The 12-hole, 450-metre RC program across two section traverses was purpose-built to test whether copper-gold soil anomalies identified at the surface had a bedrock or regolith source. The Chatham geochemical anomaly spans 1.3km x 0.45km and features maximum values of 78ppb Au and 1,126ppm Cu, accompanied by silver, tellurium, and tungsten.

This multi-element suite is consistent with Cu-Au intercepts previously recorded at the Centre Forest Prospect elsewhere on the Ularring tenure. The drilling intersected a mixed sequence of mafic, ultramafic, and granitoid basement beneath soil cover, with weathering extending to approximately 40 metres depth.

Furthermore, the program confirmed regolith-hosted copper-gold mineralisation from surface, near the interpreted Meenar Shear contact. An important operational note: several holes were terminated earlier than planned due to drill rig issues and water ingress, meaning some holes ended in anomalous copper-gold mineralisation without fully reaching unweathered basement. This adds an element of upside to the data, as the full extent of mineralisation below the weathered zone remains to be defined.

Full Drill Results at a Glance

Table 1: Significant Drillhole Intersections (Copper Cut-off 1,000ppm Cu)

Table 2: Significant Drillhole Intersections (Gold Cut-off 0.1g/t Au)

The Cu-Au anomaly at Chatham is approximately 12km along strike from the Centre Forest Prospect, adding further support to the prospectivity of the Meenar Shear corridor as a regionally coherent mineralised structure.

Technical Director Peter Muccilli reviewed and signed off on these results as the program's Competent Person under the JORC Code 2012. The company confirms no information has been identified that materially affects previously reported results.

Understanding Regolith-Hosted Mineralisation

One of the defining characteristics of the Chatham intercepts is that they are described as regolith-hosted, a term that carries specific meaning for exploration investors.

What Is Regolith?

The regolith is the layer of weathered, broken, and chemically altered rock that sits between the surface soil and the solid unweathered bedrock below. In much of Western Australia's ancient Archaean terrain, the regolith can extend tens of metres deep as a result of billions of years of chemical weathering.

Why Does It Matter Here?

When copper and gold appear in the regolith, it typically signals that mineralisation exists in the underlying fresh rock and has been dispersed upward and outward by weathering processes. Think of it as a chemical fingerprint that points to something potentially larger below.

The intercepts at CHR001 and CHR004 starting at surface, within the weathered zone, are consequently consistent with a scenario where mineralised bedrock lies at depth, untested by this program. The current drilling stopped near the base of oxidation, and what lies in the fresh rock beneath remains an open question and a key driver of the next phase of work.

Key Terms Glossary

What Comes Next: The Forward Work Program

Constellation has outlined a clear and structured path for the next field season, pending crop harvest on the agricultural land that hosts the tenements. The four-part work program is designed to progressively tighten the target and ultimately test fresh rock beneath the current drilling.

Planned next steps in order of sequence:

1. Shallow air core drilling program – now that the depth of oxidation has been established at approximately 40 metres, a targeted air core program can define the lateral extent of regolith mineralisation efficiently and at low cost.
2. Small RC program – designed to intersect potential fresh rock below the current drilling and test whether the copper-gold anomalism extends into unweathered basement.
3. Induced Polarisation (IP) geophysical survey – to image sulphide targets at depth beneath the Chatham area, providing a direct geophysical vector for copper mineralisation that drilling can then test.
4. Further infill surface geochemistry along the Meenar Shear – to extend the geochemical footprint along strike and identify additional drill targets across the 24km Meenar Shear corridor.

Table 3: Planned Work Program Summary

In addition, the company was awarded an Exploration Incentive Scheme (EIS) grant of $57,500 in connection with this RC program, demonstrating that the program meets the standards required for co-funded exploration under Western Australia's scheme.

The Regional Setting: Why Location Matters

Ularring's position within the Archaean Yilgarn Craton, and specifically within the Corrigin tectonic zone bordering the Southwest and Youanmi Terranes, places it in geologically distinguished company.

Table 4: Regional Comparable Projects

The Meenar Shear, which Constellation is targeting at Ularring, runs for 24km of interpreted strike across the company's tenure. The Chatham Prospect represents one of the first drill tests of this structure. With anomalous copper-gold now confirmed at two separate points — Centre Forest and Chatham, 12km apart along the same shear — the structural corridor is building a credible mineralisation story.

Constellation's geological team has identified the potential for an intrusion-related copper-gold system at Ularring, a deposit style capable of generating large-scale accumulations. The Boddington mine and Caravel's porphyry-hosted copper project are the two most prominent regional analogues. The recent high-grade rare earth-copper intersection at Chalice's Deep Blue Prospect also introduces a further mineralisation style that Constellation intends to evaluate within its own tenure.

The Investment Case for Constellation Resources

Several factors converge to make this announcement meaningful for investors tracking the early-stage copper-gold exploration space.

1. First Mover on an Undrilled Structural Corridor

The Chatham area had no prior drilling before this program. The maiden results have returned copper-gold from surface, immediately validating the soil geochemistry and confirming that the Meenar Shear hosts mineralising fluids across at least two confirmed points 12km apart.

2. Shallow Mineralisation With Untested Depth

Both headline intercepts started at surface. The drilling program ended near the base of oxidation, meaning the fresh rock below — where bulk copper-gold systems typically reside — has not been tested. This represents the most significant near-term exploration upside.

3. Strike Remains Open

The copper-gold mineralisation is described as open along strike, with the current program only testing a portion of the 1.3km x 0.45km soil anomaly at Chatham. Furthermore, additional anomalies at Chatham South also remain untested at depth.

4. 100% Ownership and Clean Tenure

Constellation holds the Ularring project through its wholly owned subsidiary CR1 Minerals Pty Ltd across three granted exploration licences. There are no joint venture dilution risks, and the tenements are in good standing with access agreements in place with landholders.

5. Proximity to Large-Scale Copper Systems

Sitting between two significant copper-related projects — Caravel's 1.4Mt Cu ore reserve to the north and Chalice's Deep Blue discovery — Ularring is exploring in a corridor where the geological plumbing for large copper accumulations demonstrably exists.

6. Multi-Element Geochemistry Consistent With Known Cu-Au Systems

The coincident silver, tellurium, and tungsten in the soil anomaly at Chatham mirrors the element suite at the Centre Forest Prospect, suggesting a common mineralising event operating along the shear.

Why Investors Should Watch Constellation Resources

Constellation Resources is at an early but pivotal stage of unlocking the Ularring Copper Gold Project. The maiden drill program at Chatham has done what first-pass drilling is designed to do — confirm that surface anomalies have a real subsurface source and define the key questions that the next round of work needs to answer.

The path from here is well-defined: geophysics to image depth targets, air core to map the regolith footprint, and RC drilling to intersect fresh rock below the base of oxidation. Each step carries the potential to materially upgrade the understanding of what lies beneath the Chatham area and along the broader Meenar Shear corridor.

For investors seeking copper-gold exposure in an established Western Australian mineral province, with a clear next-phase work program and 100% project ownership, these Constellation Resources copper gold hits at Ularring Meenar Shear warrant close attention in the months ahead.

Key Takeaway: Constellation Resources has confirmed copper-gold mineralisation from surface at Chatham — the first drilling on this section of the Meenar Shear — with the critical fresh rock environment below the base of oxidation entirely untested. With a structured four-stage follow-up program planned, including IP geophysics and fresh rock RC drilling, and a project flanked by Caravel Minerals' 1.4Mt copper ore reserve and Chalice Mining's Deep Blue discovery, the upcoming field season at Ularring carries genuine discovery potential.

Want to Learn More About Constellation Resources and the Ularring Copper Gold Project?

With maiden drilling at Chatham already confirming copper-gold mineralisation from surface along the Meenar Shear, and a structured four-stage follow-up program designed to test fresh rock at depth, Constellation Resources (ASX: CNR) is entering a pivotal phase at its 100% owned Ularring project. Investors looking to understand the full scope of the opportunity — including the broader Meenar Shear corridor, the company's tenure position, and its exploration pipeline — can find out more by visiting the Constellation Resources website.