Albion Resources Strikes 280 g/t Gold at Gidgee Ahead of Maiden Drill

Gidgee Gold Project Delivers Standout 280 g/t Gold Rock Chip Ahead of Maiden Drill Campaign

Albion Resources (ASX: ALB) has reported high-grade gold assays from reconnaissance rock-chip sampling at its Gidgee Gold Project in Western Australia's Murchison gold district, strengthening the company's geological targeting ahead of an approved maiden drilling program. The Albion Resources Gidgee Gold Project 280 g/t gold rock chip results and maiden drilling program represent a significant milestone for the company's early-stage exploration activity.

The standout result, 280.3 g/t Au (approximately 9.0 oz/t Au) from sample GDLH32 at the previously undrilled Phar Lap Prospect, is among the more notable surface gold grades reported in early-stage Australian exploration this year. Combined with several additional anomalous results across multiple target areas, and with drilling approvals already secured, Albion is moving into a phase of exploration activity that investors are likely to watch closely.

A Surface Sampling Campaign That Delivered More Than Expected

According to the announcement, Albion's field team collected 35 rock-chip samples across priority target areas at Gidgee as part of pre-drilling reconnaissance and geological mapping. The program was designed to refine drill targets by integrating surface geochemistry with existing soil anomaly data, historical drilling records and airborne magnetic interpretations.

Of the 35 samples submitted to Intertek Genalysis in Perth, six returned gold grades greater than 1 g/t Au, a notable hit rate for reconnaissance-style sampling, with results spread across several distinct prospect areas.

"The identification of high-grade gold mineralisation at surface, together with multiple anomalous results from previously untested areas, strengthens Albion's geological understanding and provides additional targets ahead of the upcoming maiden drilling program," Albion Resources stated in its 20 August 2026 ASX announcement.

Rock-chip samples are selective in nature and may not be representative of the overall grade or width of mineralisation, the company noted.

The Phar Lap Prospect: A Never-Drilled Target Now Firmly on the Map

Sample GDLH32 was collected from strongly weathered, iron-oxide-rich gossanous quartz vein material adjacent to historical workings at Phar Lap. According to Albion, Phar Lap has never been drill tested.

A series of historical shafts and workings at Phar Lap define an approximate NW-SE trending surface corridor. This is consistent with a recent detailed review of airborne magnetic data, which the company said indicates a NW-SE oriented structure running parallel to the German Well Trend, one of the more established mineralised corridors within the broader project.

Three independent datasets are now converging on Phar Lap:

1. High-grade gold at surface – 280.3 g/t Au from iron-oxide gossanous quartz vein material
2. Gold-in-soil anomalism – spatial correspondence with previously defined geochemical anomalies
3. Structural setting – NW-SE oriented structure interpreted from aeromagnetic data, consistent with the broader German Well Trend

Albion noted that extensive weathering has obscured the continuity and orientation of the underlying vein system in the field. Despite this, the company said the convergence of datasets has elevated Phar Lap to a priority drill target.

What Is a Gossanous Rock Chip, and Why Does It Matter?

Understanding Gossans as Surface Gold Indicators

A gossan, sometimes called gossanous material, is a heavily weathered, iron-oxide-rich outcrop that forms at the surface when sulphide-bearing mineralisation is exposed to oxidation over geological time. Sulphide minerals, which often carry gold, break down and dissolve, leaving behind a rusty, iron-stained rock mass.

Gossans are considered useful surface indicators for gold explorers because they can sit directly above, or adjacent to, primary gold-bearing sulphide mineralisation at depth. The presence of residual gold in gossanous material can demonstrate that the original source rock was gold-bearing. Furthermore, because gold is resistant to weathering, elevated gold grades in gossanous samples may signal an underlying mineralised system.

The 280.3 g/t Au result at Phar Lap came directly from this type of material. However, the result does not confirm a resource, and further work — including drilling — is required to determine the scale and continuity of any mineralisation.

Glossary of Key Terms

Multiple Prospects Adding Depth to the Target Portfolio

German Well South

German Well South is described by Albion as the most drill-tested and historically productive part of the Gidgee Project. Historical RC drilling, previously reported on 2 March 2026, returned intersections including:

The mineralised corridor at German Well South has been defined over approximately 400 metres of strike and remains open, according to the company. New surface samples GDLH35 (3.47 g/t Au) and GDLH36 (4.79 g/t Au) were collected from the sparsely drilled southern end of the prospect, within an area of strong gold-in-soil anomalism, suggesting potential for strike extension to the south.

Wilson Splay

The Wilson Splay area returned three notable results: 4.44 g/t Au (GDLH10), 1.58 g/t Au (GDLH14) and 1.57 g/t Au (GDLH16). These occur within a broader north-south corridor of gold-in-soil anomalism that corresponds with the Wilson Shear and associated interpreted structures visible in magnetic data.

Consequently, sample GDLH14 is located proximal to a historical EM anomaly in an area that has never been drill tested, making it a particularly compelling inclusion in the upcoming maiden programme.

Tokey North and Tokey Central

Gold grades at Tokey North (approximately 0.1 g/t Au) and Tokey Central (approximately 0.2 g/t Au) were lower than the standout results elsewhere. However, Albion noted that outcrop in these areas is poorly exposed, meaning even low-level gold anomalism at surface is considered geologically significant. Both prospects sit in close proximity to interpreted regional shear zones and have never previously been drill tested.

Maiden Drilling Program: Approved and Mobilising

Albion has received all required approvals for its maiden drilling campaign at Gidgee, and the field team is reported to be mobilising to site. The program comprises:

According to Albion, the program has been designed to systematically test priority gold targets identified through the integration of rock-chip results, soil geochemistry, historical drilling and structural interpretation from aeromagnetic data. Key targets include German Well South, Phar Lap, the Wilson Splay corridor (North, Central and South) and the Tokey North and Tokey Central prospects.

Why the Gidgee Project Deserves Investor Attention

A Location Within an Established Gold District

The Gidgee Gold Project sits in Western Australia's Murchison gold district, positioned between the established mining centres of Wiluna, Sandstone, Meekatharra and Mount Magnet, with access to regional roads, processing infrastructure and mining services, according to the company's background information.

Factors Relevant to the Current Stage

In addition to its favourable location, several project-specific attributes stand out:

• A high-grade surface result of 280.3 g/t Au at an undrilled prospect
• Multiple undrilled targets with surface gold anomalism, including Phar Lap, Tokey North, Tokey Central and parts of Wilson Splay
• Historical drilling at German Well South, including multiple high-grade RC intersections over 400 metres of open strike
• Drilling approvals secured and field mobilisation underway
• An integrated targeting model combining rock-chip results, soil geochemistry, historical drilling and aeromagnetic interpretation

Catalysts Investors May Wish to Monitor

A Company at a Pivotal Inflection Point

Since securing the option over the Gidgee Gold Project in March 2026, Albion has progressed through several stages within approximately five months. These include project acquisition, new soil geochemical surveys identifying 19km of shear corridors with eight new gold targets, a reconnaissance rock-chip program delivering the Albion Resources Gidgee Gold Project 280 g/t gold rock chip results and maiden drilling program approvals.

The drilling program now commencing represents the first systematic drill testing across several of Gidgee's priority areas, including targets that have never seen a drill hole despite surface gold anomalism and favourable structural settings. Furthermore, the scale of the upcoming campaign — spanning approximately 7,000 metres — underscores the breadth of the exploration opportunity Albion is pursuing.

"Albion Resources has reached an exploration milestone at the Gidgee Gold Project, supported by a 280 g/t Au surface result at an undrilled prospect, approved maiden drilling across approximately 7,000 metres, and a multi-prospect target portfolio in Western Australia's Murchison gold district. Drill results are anticipated over the coming months, including first-time testing of several priority targets."

The economic significance of the exploration results reported has not yet been established, and further work, including the planned drilling program, will be required before any conclusions can be drawn regarding potential resources or development.

Ready to Follow Albion Resources Into Its Maiden Drill Campaign?

With a 280.3 g/t Au surface result at an undrilled prospect, approved maiden drilling across approximately 7,000 metres, and a multi-target portfolio in one of Western Australia's most established gold districts, Albion Resources (ASX: ALB) is entering a pivotal stage of exploration at the Gidgee Gold Project. Investors looking to learn more about the company, its projects, and upcoming drill results can visit albionresources.com.au for the latest updates.