Geophysics Reveals Major Gold Potential at Firetail’s Excelsior Project

Firetail Resources Ltd-FTL-FTL glowing on illuminated desert cliffs.

Firetail Resources Ltd

  • ASX Code: FTL
  • Market Cap: $32,682,406
  • Shares On Issue (SOI): 380,027,975
  • Cash: $1,417,000 (as of 0 June 2025)
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    Geophysics Unveils Major Discovery Potential at Firetail's Excelsior Gold Project

    Firetail Resources (ASX: FTL) has revealed compelling evidence of an extensive gold system at its Excelsior Gold Project in Nevada, with reprocessed geophysical data confirming a significant extension of the prospective Buster Trend to over 5km in length – far beyond the 1km zone previously drill tested.

    Geophysical Surveys Expand Gold Mineralisation Footprint

    Re-processing of three comprehensive geophysical datasets has provided Firetail with crucial insights that substantially increase the exploration potential of the Excelsior Gold Project:

    • Magnetics data has identified extensive intrusive bodies beneath sedimentary rocks
    • IP/resistivity survey has defined clear resistivity highs along the Buster Trend and identified the parallel Ghost Trend
    • CSAMT data has revealed a major "Demarcation Line" structure extending over 4.1km, interpreted as a long-lived fluid conduit for gold mineralisation

    The geophysical evidence supports the presence of an extensive mineralised system across the Excelsior property, with only 20% of the 5km strike length effectively drill-tested to date.

    "Geophysics has provided us with further insights into the discovery potential of the Excelsior Gold Project," said Glenn Poole, Firetail's Managing Director. "Each of the geophysical datasets support the presence of a large mineralising system along the Buster Trend."

    Previously Undocumented High-Grade Target Discovered

    Field mapping conducted concurrently with the geophysical reprocessing has yielded an immediate drilling target – a previously undocumented mining adit within the patented claim area. This substantial underground working follows a structure striking 85° and dipping 65° to the south.

    The mineralisation appears to be 2-3 meters wide and remarkably, has no documented previous sampling or drilling in proximity to it. Channel samples have been collected and submitted for laboratory analysis.

    This discovery provides Firetail Resources' Excelsior Gold Project with an immediately actionable drill target within the patented claim area.

    Drilling Program to Target High-Grade Gold Extensions

    Firetail is preparing to commence diamond drilling in August 2025 following completion of the acquisition. The program will target extensions to previous high-grade gold intercepts including:

    Hole ID Intercept Including
    22_01 51.8m at 4.00g/t Au from 39.6m 6.1m at 16.30g/t Au from 42.7m
    DB23 33.5m at 5.35g/t Au from 41.2m 10.7m at 15.99g/t Au from 41.2m
    22_02 32.0m at 2.45g/t Au from 44.2m 6.1m at 10.00g/t Au from 45.7m
    EX2 24.4m at 3.62g/t Au from 70.1m 9.2m at 7.99g/t Au from 79.2m

    Understanding Geophysical Targeting in Gold Exploration

    Geophysical surveys are crucial tools in modern gold exploration as they allow companies to examine beneath the surface without extensive drilling. At Excelsior, the three complementary surveys provide different perspectives on the same target area:

    IP/Resistivity measures how rocks resist electrical current – silicified zones (often associated with gold) show up as resistivity highs. At Excelsior, these correlate directly with known mineralisation along the Buster Trend.

    Ground Magnetics detects variations in magnetic properties of rocks, identifying structures and intrusive bodies that often control gold deposition. The Excelsior surveys revealed extensive intrusive material beneath sedimentary cover – a positive indicator for intrusion-related gold systems.

    CSAMT (Controlled Source Audio-Magnetotelluric) provides deeper penetration than IP and helps map major structural features. The identification of the "Demarcation Line" feature over 4.1km of strike is particularly significant as it appears to be a major fluid pathway for mineralising solutions.

    Walker Lane: Nevada's Gold-Rich Trend

    The Excelsior Springs Project is located within Nevada's prolific Walker Lane Trend, which has produced over 40 million ounces of gold. The trend hosts multiple past, current and pre-development gold mines including AngloGold Ashanti's Silicon/Merlin Project, Kinross Gold Corp.'s Round Mountain Mine and the Comstock Project.

    Excelsior has a history of high-grade production, with the Buster Mine producing over 19,000 ounces at an exceptional grade of 41g/t Au. Modern exploration has defined multiple high-grade gold zones that warrant follow-up exploration.

    Expanding Precious Metals Opportunity

    Beyond gold, recent rock chip sampling towards the eastern extent of the Firetail Resources' Excelsior Gold Project has revealed exceptional silver values up to 6,630g/t Ag (Silver) around the Blue Dick Mine area, which has yet to be drill tested.

    This suggests the project may have significant polymetallic potential beyond the gold targets currently being pursued.

    Why Investors Should Track Firetail Resources

    Firetail Resources presents a compelling investment case for resource investors:

    1. Systematic Exploration Approach: The company is employing modern exploration techniques including advanced geophysics and 3D modeling of historical workings to unlock the full potential of a historically productive district.

    2. Significant Scale Potential: The extension of the prospective Buster Trend to over 5km (with only 1km drill-tested) suggests substantial resource growth potential.

    3. High-Grade Foundation: Previous drilling has already demonstrated thick, high-grade gold intercepts including 33.5m at 5.35g/t Au.

    4. Near-Term Catalysts: Diamond drilling commencing in August 2025 will target extensions of known high-grade gold zones.

    5. Strategic Jurisdiction: Nevada consistently ranks as one of the world's top mining jurisdictions with excellent infrastructure and a supportive regulatory environment.

    With an active exploration program delivering important information ahead of drilling and a clear pathway to testing high-priority targets, Firetail is positioning itself to potentially make a significant discovery at Excelsior in the coming months.

    Ready to Capitalise on Firetail's Nevada Gold Discovery Potential?

    Discover why Firetail Resources' Excelsior Gold Project presents a compelling investment opportunity with its extensive 5km mineralised trend, high-grade historical intercepts, and imminent drilling program. For comprehensive information about Firetail's strategic exploration approach and to stay updated on their progress towards unlocking significant value in this prolific Nevada gold district, visit Firetail Resources' website today.

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