GoldArc Resources Completes Massive 15,260m Drilling Campaign at Leonora

GoldArc Completes Massive 15,260m Drilling Campaign at Leonora South

GoldArc Resources Limited (ASX:GA8) has wrapped up its largest drilling effort to date at the Leonora South Gold Project, completing a comprehensive 15,260 metre campaign across 269 drillholes. This multi-program approach represents a strategic milestone for the company, combining partner-funded development drilling with aggressive exploration programs designed to advance both resource definition and new discovery opportunities simultaneously.

The campaign strategically targeted multiple fronts: the Eclipse, Orion, and Sapphire deposits for resource development, along with greenfields exploration across the broader Kookynie district. With all assay results expected by end of May 2026, investors can anticipate a sustained period of news flow as results are progressively released.

"Completing these drilling programs at Leonora South is an important milestone for GoldArc. The scale of drilling completed across development, advanced RC and greenfields aircore programs provides us with a substantial dataset to further refine our understanding of the project area." – Paul Stephen, Managing Director

Three-Track Strategy Delivers Maximum Value

GoldArc Resources' massive drilling campaign was structured around three distinct but complementary programs, each serving different stages of the discovery-to-development pipeline. Furthermore, this approach maximises the value extraction from the substantial dataset generated through systematic targeting.

MMS Development Program – 5,734m across 85 holes

The development program was 100% funded by development partner Mineral Mining Services Pty Ltd (MMS), focusing on Eclipse, Orion, and Sapphire deposits. This program was designed to infill and extend known high-grade mineralisation whilst targeting advancement toward maiden Mineral Resource Estimate for Eclipse.

Previous Eclipse highlights include 14m @ 7.49 g/t Au from 12m, demonstrating the exceptional potential of this deposit for future development.

Advanced RC Program – 3,186m across 32 holes

The company-funded program targeted Cosmopolitan, Whistler, and Woodpecker prospects through follow-up drilling at high-priority targets. For instance, the Woodpecker target delivered a standout 1m @ 25.21 g/t Au result, warranting further investigation.

This program was designed to extend known mineralisation at the Cosmopolitan deposit whilst testing step-out drilling in corridors with limited systematic drilling history.

Greenfields Aircore Program – 6,340m across 152 holes

The systematic testing covered multiple drill-ready targets across Whistler, Cosmopolitan South, and Altona South. In addition, this program focused on defining the extent of mineralised systems across the Kookynie district.

The program successfully identified newly discovered mineralised zones at Whistler, expanding the company's exploration footprint.

Understanding Reverse Circulation (RC) Drilling

Reverse Circulation drilling is a cost-effective method that produces high-quality rock samples for geological analysis. Unlike conventional drilling where samples can become contaminated during retrieval, RC drilling uses compressed air to bring rock chips directly to surface through the drill stem.

Key advantages for exploration:

• Faster drilling rates than diamond core drilling
• Lower cost per metre whilst maintaining sample quality
• Minimal sample contamination through direct air circulation
• Suitable for both exploration and resource definition programs

This drilling method proves particularly valuable in gold exploration where rapid assessment of mineralisation is crucial for project advancement and investment decisions. Moreover, the quality of samples produced allows for accurate assay results that can directly inform mining decisions and resource calculations.

Strategic Partnership Advantage

The 100% MMS-funded development program represents a significant structural advantage for GoldArc shareholders. This partnership model eliminates traditional exploration capital burden at the critical development stage, allowing the company to advance its deposits toward production without diluting existing shareholders.

Partnership benefits:

• Zero exploration capital required from GoldArc for development drilling
• Retained ownership of deposits whilst accessing development expertise
• Risk-sharing model that validates deposit quality through third-party investment
• Accelerated development timeline through partner funding and expertise

The arrangement allows GoldArc to allocate its own capital toward high-impact exploration targets whilst advancing resource definition at its most promising deposits. Consequently, this dual-track approach maximises shareholder value by reducing dilution whilst maintaining aggressive exploration programs.

Strong Resource Foundation Supports Growth Strategy

GoldArc enters this results period with an established 200,014 ounce JORC resource base across its Western Australian gold portfolio. This provides a solid foundation for growth through the current drilling programs.

Current JORC Mineral Resources

The Eclipse deposit, currently without a formal resource estimate, represents significant upside potential given previous high-grade intersections. Furthermore, the current infill drilling program was designed to support a maiden resource calculation.

These established resources demonstrate GoldArc's systematic approach to building a substantial mineral inventory across proven goldfields. However, the company's strategy focuses on expanding this resource base through targeted drilling campaigns whilst identifying new mineralised systems.

Eclipse Deposit: High-Grade Target for Resource Expansion

The Eclipse deposit has emerged as a priority target within GoldArc Resources' massive drilling campaign. Previous exploration has returned exceptional grades, including the standout intersection of 14m @ 7.49 g/t Au from 12m.

This establishes Eclipse as a key component of the company's resource growth strategy whilst demonstrating the exceptional mineralisation potential of this deposit.

Eclipse development highlights:

• High-grade gold mineralisation confirmed through previous drilling
• Partner-funded resource definition through MMS development program
• Maiden Resource Estimate advancement expected following current campaign
• Strategic location within established Leonora goldfields

The MMS-funded drilling program at Eclipse aims to provide the geological confidence necessary for future mine planning. Therefore, this represents a critical step in advancing the deposit from exploration target to potential production asset.

What Results Can We Expect From This Drilling Campaign?

With all drilling now complete, investors can expect a structured flow of results over the coming weeks. GoldArc Resources' massive drilling campaign will deliver assay outcomes across multiple targets, creating sustained market attention.

Expected Timeline:

• End of May 2026: All assay results expected
• Progressive releases: Results will be announced as received
• Multi-front news flow: Eclipse development results, Cosmopolitan extensions, and greenfields discoveries

Key catalysts to monitor:

1. Eclipse infill results – Supporting maiden resource estimate advancement
2. Woodpecker follow-up – Testing high-grade 25.21 g/t Au discovery potential
3. Cosmopolitan extensions – Expanding known mineralisation footprint
4. Greenfields discoveries – New target identification across Kookynie district

The progressive release of results creates sustained market attention whilst allowing proper analysis of each drilling program's outcomes. In addition, this approach ensures maximum value extraction from the substantial dataset generated.

Investment Considerations for GoldArc Resources

GoldArc has positioned itself as a compelling gold exploration and development opportunity in the proven Eastern Goldfields region of Western Australia. The completion of this 15,260m drilling campaign demonstrates the company's systematic approach to value creation through its dual-track strategy.

Key investment highlights:

• Proven location: Operations in world-class Leonora and Kookynie gold districts
• Partner-funded development: MMS partnership eliminates capital dilution risk
• Substantial resource base: 200,000+ ounce JORC resource foundation
• Multiple catalyst timeline: Progressive results flow over coming months
• High-grade targets: Previous intersections including 14m @ 7.49 g/t Au and 1m @ 25.21 g/t Au

The company's ability to advance both development-stage deposits and early-stage exploration targets simultaneously creates multiple pathways to value creation. Furthermore, with partner funding supporting resource definition whilst company capital drives exploration, GoldArc maintains an optimal balance between risk and opportunity.

GoldArc Resources has completed its largest drilling campaign to date, positioning the company for sustained news flow and multiple value catalysts. With 100% partner-funded development drilling and aggressive exploration programs across proven gold districts, the company offers investors exposure to both resource growth and new discovery potential in the coming months.

The systematic approach to drilling across development and exploration targets, combined with strategic partnerships and established resource base, positions GoldArc as a diversified gold opportunity. Moreover, this positioning occurs in one of Australia's premier mineral provinces, enhancing the potential for significant value creation.

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