MB Gold Delivers Widest Gold Intercept at Marble Bar Twin Veins

MB Gold Strikes It Early: Maiden Drill Campaign Delivers Standout Gold Results at Twin Veins

MB Gold Limited (ASX: MBG) has kicked off its maiden reverse circulation drill programme at the Marble Bar Gold Project in Western Australia's Pilbara region with a set of initial assay results that have immediately validated the exploration thesis. The first six holes of the programme have returned multiple significant gold intercepts, headlined by an exceptional 20m @ 1.74g/t Au from 81m, including 7m @ 4.06g/t Au from 81m in hole 26MBRC005 — the widest significant intercept ever recorded at the Twin Veins Prospect.

With 3,735m of a 6,000m Phase 1 programme already completed, samples from a further 14 drill holes currently at the laboratory, and a Phase 2 programme scheduled to begin in August, the MB Gold Marble Bar Gold Project maiden drill results at Twin Veins are only just beginning to tell their story.

"The initial assay results are highly promising and include the widest significant intercept returned from Twin Veins to date. Drilling is ongoing, with a significant number of samples currently at the laboratory for analysis, providing a strong pipeline of news flow as further results are received." — Logan Barber, Executive Director and CEO, MB Gold Limited

What the Drill Holes Are Saying: Breaking Down the Results

The first six holes tested the Twin Veins Prospect along a series of cross-sections targeting ESE-WNW trending gold-bearing quartz structures. The results confirm gold content across multiple intercept zones and at a range of depths, with several holes returning stacked intervals of elevated gold grades.

Here is a complete summary of the significant intercepts reported from the six holes (calculated using a 0.3g/t Au cut-off grade, minimum 1m thickness, and up to 2m internal dilution):

The standout result in 26MBRC005 is particularly noteworthy — not just for its grade, but for its width. At 20 metres, this represents the widest significant gold intercept recorded at Twin Veins. Furthermore, the high-grade core of 7m @ 4.06g/t Au demonstrates that meaningful gold concentration exists within this broader mineralised envelope.

Hole 26MBRC001 also delivered a strong result, with two stacked intervals near surface — 6m @ 1.22g/t Au from 4m and 5m @ 2.17g/t Au from 14m — reinforcing the continuity of near-surface gold mineralisation at the prospect.

Understanding RC Drilling and Why It Matters Here

What Is Reverse Circulation (RC) Drilling?

Reverse circulation drilling is a widely used exploration technique where a drill bit grinds through rock and the resulting material (called chips or cuttings) is blown back up inside the drill rods to the surface using compressed air. This keeps the sample contained and largely uncontaminated, making it a reliable and efficient method for collecting representative rock samples at depth.

At Twin Veins, RC drilling was conducted using 4.5-inch rods with a 5.5-inch face-sampling hammer, with samples collected at 1-metre intervals and subsequently submitted for fire assay gold analysis and multi-element testing.

Why Does It Matter for Investors?

RC drilling is cost-effective and fast, meaning a company can cover significant ground quickly and generate a high volume of assay data in a relatively short period. The method is also considered industry-standard for early-to-mid stage gold exploration, making the data JORC-compliant and directly comparable to peer projects.

For MB Gold, this means the results carry credibility with institutional and sophisticated investors assessing the Twin Veins system.

Key Technical Terms Glossary

A Project Built on Historical Promise — Now Confirmed by Modern Drilling

The Twin Veins Prospect is not being explored in a vacuum. The site has a meaningful exploration history that provides important context for interpreting the MB Gold Marble Bar Gold Project maiden drill results at Twin Veins.

• 2017–2018: BCI Minerals completed geological mapping, rock chip and soil sampling programmes that identified 22km of prospective gold-bearing trends, with rock chips exceeding 3g/t Au. An 11-hole RC programme for 796m followed, delivering encouraging early-stage results.

• 2019–2021: Global Lithium Resources acquired the tenement and completed its own rock chip programme, recording gold grades up to 54.60g/t Au from surface samples. A 10-hole, 1,050m RC programme in 2021 returned results including 7m @ 4.78g/t Au from 11m.

• 2023: Further high-grade results were reported by Global Lithium at Twin Veins.

• 2026: MB Gold, which holds the precious metals rights over the tenement through a mineral rights agreement with Global Lithium, commenced its maiden systematic drill programme — now delivering the widest intercept in the prospect's history.

This cumulative exploration history demonstrates that Twin Veins has been a consistently gold-productive system across multiple campaigns and operators. However, the MB Gold Marble Bar Gold Project maiden drill results at Twin Veins are building directly on that foundation with a more systematic, grid-based approach.

The Marble Bar Gold Project: Scale and Setting

The Marble Bar Gold Project is located in the Pilbara region of Western Australia — one of the world's most ancient and geologically significant gold-bearing terrains. The project sits within the Archean Pilbara Craton, spanning the northwest margin of the Mt Edgar Batholith, a geological zone characterised by high potential for gold mineralisation formed through tectonic processes.

Key Project Attributes at a Glance

The Twin Veins Prospect mineralisation is hosted in the Duffer Formation, where ESE-WNW trending gold-bearing quartz structures cross-cut a banded iron formation unit within volcanic rocks. The mineralised zones dip steeply at 70° to 80° to the south.

In addition, true widths of intercepts are generally considered to represent 80–90% of reported intercept widths. This means the 20m intercept in 26MBRC005 likely represents a genuine true width in the range of 16–18 metres — a materially wide zone for a structure-hosted gold system.

What Comes Next: A Clear and Busy Exploration Pipeline

MB Gold's exploration calendar through the remainder of 2026 is full, with multiple near-term catalysts expected.

Immediate Pipeline (Next ~3 Weeks)

• Assay results from a further 14 drill holes currently at the Jinning Testing and Inspection Laboratory in Perth
• Results to be announced as received, with geological interpretation ongoing

Phase 1 Programme Completion

• 3,735m completed of a 6,000m Phase 1 RC programme
• Remaining ~2,265m of drilling still to be completed and sampled

Phase 2 Programme (Commencing August 2026)

• Follow-up drilling at Twin Veins targeting extensions and infill of current intercepts
• Drilling at the Douglas Find prospect
• Initial drilling at the Razorback Prospect, located approximately 5km east of Twin Veins — a completely new target area

Furthermore, the planned exploration activities include:

1. Infill and extensional drilling at Twin Veins based on Phase 1 results
2. First-ever drilling at the Razorback Prospect
3. Additional rock chip sampling and geological mapping to refine targets
4. Multi-element assay data from current holes to inform structural interpretation

The Investment Thesis: Why These Results Matter

MB Gold is at a genuinely early stage of systematic exploration over a project that has now produced its most impressive intercept to date on its very first maiden campaign. There are several reasons investors should pay close attention to how this story develops.

1. System-Wide Potential, Not Just a Single Hole

The six holes reported to date cover only a portion of the Twin Veins Prospect, which itself is just one of multiple targets within a 12km gold-in-soil anomaly corridor. The Razorback Prospect, which has not yet been drilled by MB Gold, adds a completely separate exploration option to the project.

2. The Widest Intercept in the Prospect's History — On Hole 5

Getting the widest intercept ever recorded at Twin Veins from only the fifth hole of a maiden campaign is a meaningful early indicator. It suggests the systematic grid-based approach being applied by MB Gold may be intersecting parts of the mineralised system that earlier, more targeted programmes missed.

3. Strong Sample Pipeline Provides Near-Term News Flow

With 14 holes already at the laboratory and drilling still ongoing, investors can expect a sustained series of announcements over the coming weeks and months. Each batch of results will progressively define the geometry and continuity of the mineralised system.

4. No Royalty Burden on Future Resources

The mineral rights agreement with Global Lithium includes no royalty over any future resource. This is a meaningful structural advantage — any resources defined through exploration are unencumbered by royalty obligations that would otherwise reduce the economic value of any future development.

5. Excellent Infrastructure

The project's location — 150km from Port Hedland on a sealed road and close to existing mining operations — means future development, if warranted, would benefit from established infrastructure rather than requiring significant greenfield capital.

Why Investors Should Keep MB Gold on Their Radar

MB Gold has delivered a strong opening statement with its maiden drill campaign. The initial results from just six holes have confirmed gold mineralisation across the Twin Veins system, produced the widest intercept in the prospect's history, and established a clear pipeline of exploration news flow through the second half of 2026.

The company is working through a well-sequenced exploration programme — Phase 1 drilling is more than halfway complete, Phase 2 is defined and scheduled, and the Razorback Prospect represents an entirely untested exploration target that could add a new dimension to the project's scale.

For investors focused on early-stage gold exploration in proven Australian gold terrains, MB Gold presents a project with demonstrated historical productivity, a management team actively executing on the ground, and a series of near-term catalysts that will progressively define what the Marble Bar Gold Project is capable of delivering.

MB Gold Limited has opened its maiden drill campaign at Twin Veins with the widest gold intercept in the prospect's history — 20m @ 1.74g/t Au, including 7m @ 4.06g/t Au — confirming the system's potential on just the fifth hole drilled. With 14 further holes already at the laboratory, a 6,000m Phase 1 programme progressing, and a Phase 2 campaign including first-ever drilling at the Razorback Prospect scheduled for August, MB Gold enters the second half of 2026 with strong exploration momentum and a consistent pipeline of potential catalysts.

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