Gold and Antimony Discoveries Boost Bubalus Resources' Victorian Exploration
Bubalus Resources (ASX: BUS) has announced significant gold and antimony anomalies at its Crosbie North prospect in Victoria's goldfields, strengthening the company's position in one of Australia's most prospective gold regions.
A recently completed 380-sample soil sampling program has revealed peak gold values of 34 ppb and antimony values reaching 158 ppm – representing values 13 times and 30 times higher than the respective dataset averages. These findings are supported by previously reported high-grade rock chip samples containing up to 12.1 g/t gold and 2.02% antimony.
Strategic Location Near Major Gold Producers
The Crosbie exploration license sits in a prime location within Victoria's gold-rich corridor, positioned just 18 kilometers from Agnico Eagle's Fosterville Gold Mine and 20 kilometers from Mandalay Resources' Costerfield Gold Mine. This strategic positioning gives Bubalus access to similar geological structures that have made these neighbouring operations successful.
At Crosbie North, the company is investigating gold and antimony mineralisation within folded and faulted metasediments of the Castlemaine Group – the same geological formation that hosts the productive Fosterville deposit.
Detailed Soil Sampling Reveals Multiple Target Areas
The soil sampling program was specifically designed to augment existing rock chip data and assist in defining targets for future drilling. Samples were analysed using the Ultrafine method, which effectively penetrates through shallow to moderate ground cover to detect mineralisation.
Beyond gold and antimony, the sampling program also revealed significant anomalies for:
- Arsenic values up to 249 ppm (19 times the dataset average)
- Silver values up to 0.635 ppm (9 times the dataset average)
Understanding Antimony: A Critical Indicator for Victorian Gold
Antimony anomalies are particularly significant in the Victorian goldfields context. At nearby deposits like Fosterville and Costerfield, antimony mineralisation commonly occurs alongside high-grade gold. In fact, antimony minerals like stibnite often serve as pathfinders for substantial gold deposits in this region.
This relationship exists because both elements were deposited by the same hydrothermal systems that moved through structural features in the Castlemaine Group sediments. The presence of both gold and antimony in Bubalus' sampling results suggests the potential for a mineralised system similar to those found at neighbouring mines.
The geological significance of the gold and antimony discoveries at Bubalus Resources cannot be overstated, as they align with the mineralisation patterns observed at the Fosterville and Costerfield mines. This correlation strengthens the exploration model and increases the prospectivity of the Crosbie North target area.
Antimony is not only important as an indicator mineral but also has industrial value in its own right. It is used in flame retardants, batteries, and various alloys. However, in the Victorian goldfields, its primary significance remains its close association with high-grade gold mineralisation.
Upcoming Exploration Activities
Bubalus Resources has outlined a clear path forward at Crosbie North:
- Further analysis of geochemical data to assess relationships between elements
- Planning and execution of additional ground-based induced polarisation (IP) geophysical surveys
- Detailed geological and structural mapping to refine understanding of the target area
These activities are expected to lead to the definition of drill targets during the third quarter of 2025. Furthermore, geochemistry plays a crucial role in identifying the most promising areas for subsequent drilling campaigns.
Meanwhile, the company's previously announced drilling program at Crosbie South remains on schedule to commence in late April, where the focus will be on investigating an intrusion-related gold system (IRGS) style of mineralisation.
Investment Potential: A Multi-Project Critical Minerals Explorer
Beyond the promising gold and antimony discoveries at Bubalus Resources, the company maintains a diverse portfolio of assets positioned across critical minerals:
- Nolans East Project (Northern Territory): Targeting light rare earth elements, located just 15km from Arafura's 56Mt Nolans Bore deposit
- Yinnietharra Project (Western Australia): Lithium exploration adjacent to Delta Lithium's Malinda prospect
- Amadeus Project (Northern Territory): Significant manganese land package with 11 identified occurrences
- Coomarie Project (Northern Territory): Heavy rare earths target in the Tanami Region
- Pargee Project (Western Australia): Heavy rare earths exploration near PWV's Watts Rise discovery
Why Investors Should Watch Bubalus Resources
The combination of encouraging gold and antimony anomalies at Crosbie North positions Bubalus favourably within Victoria's resurgent goldfields. The project's proximity to two productive gold mines (Fosterville and Costerfield) provides strong geological validation for the exploration model.
With drilling at Crosbie South scheduled to begin in late April and a clear path toward defining drill targets at Crosbie North by Q3 2025, Bubalus offers investors multiple near-term catalysts across its gold portfolio. For junior mining investors seeking exposure to promising exploration plays, this presents an intriguing opportunity.
Meanwhile, its diverse critical minerals assets provide additional optionality and exploration upside across commodities facing strong demand fundamentals. The current market trends in mining suggest increasing interest in companies with diversified portfolios spanning both precious metals and critical minerals.
For investors seeking exposure to both precious metals and critical minerals exploration, Bubalus Resources presents a compelling opportunity with an active work program and strategic land positions across multiple commodities. The recent gold and antimony discoveries at Bubalus Resources' Crosbie North prospect further enhance the company's exploration potential in this renowned gold province.
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