iTech Minerals Confirms Second High-Grade Gold-Antimony Zone at Reynolds Range

iTech Minerals Confirms Second High-Grade Gold-Antimony Zone at Reynolds Range, Extending the System Across 1.6 Kilometres

iTech Minerals (ASX: ITM) has reported further shallow, high-grade gold and antimony results from Reverse Circulation drilling at the Falchion Prospect within its 100%-owned Reynolds Range Gold-Antimony Project in the Northern Territory. Assay results from all nine RC holes at Falchion confirm a second zone of high-grade mineralisation approximately 1.6 kilometres west of the Sabre Prospect, with mineralisation still open along strike and at depth.

The reported intersections add to the emerging exploration picture at Reynolds Range, where iTech has now outlined high-grade results at two separate prospects within the same broader corridor. For investors, that matters because multiple mineralised centres can point to a larger system rather than a single isolated target.

The main reported Falchion gold intercepts include:

• 9m @ 2.51 g/t Au from 33m in FLRC26-001
• 6m @ 3.31 g/t Au from 79m in FLRC26-002
• 7m @ 2.48 g/t Au from 80m in FLRC26-007
• 7m @ 1.86 g/t Au from 66m in FLRC26-002
• 7m @ 1.03 g/t Au from 12m in FLRC26-003

The programme also returned a strong antimony result from a newly tested northwestern zone:

• 8m @ 0.95% Sb from 46m in FLRC26-009

All intervals are reported as downhole widths. The company stated that true widths are not yet known.

"These results highlight the potential for Reynolds Range to host multiple gold-antimony deposits. We now have two prospects, around 1.6 kilometres apart, returning thick, high-grade intersections from shallow depths. Importantly, the mineralisation at both prospects remains open," said Mike Schwarz, Managing Director.

Falchion Drilling Results Extend the 2025 Discovery

iTech confirmed the nine-hole Falchion programme was designed to test extensions to mineralisation first intersected in 2025 drilling, including the previously reported 14m @ 6.31 g/t Au from 16m in FLRC25-004. The latest results are reported to extend that shallow, high-grade mineralisation both along strike and down-dip, while also strengthening the observed association between gold and antimony at Falchion.

Several holes support continuity across the mineralised footprint:

Gold intersections were reported using a 0.5 g/t Au lower cut-off, while antimony intervals used a 0.1% Sb lower cut-off, with a minimum 1m downhole width and up to 2m internal dilution.

Two holes, FLRC26-005 and FLRC26-008, did not return significant gold results. However, in exploration reporting, these holes still matter because they help define the edges of a mineralised system and improve confidence in the geological interpretation.

Why Falchion Matters in the Wider Reynolds Range Picture

The latest update adds considerable weight to the idea that Reynolds Range may host more than one gold-antimony deposit. According to the announcement, Falchion sits roughly 1.6km west of Sabre, and both prospects have now returned thick, shallow, high-grade intersections.

That spacing is relevant. In early-stage exploration, separate prospects with similar mineralisation styles can suggest a larger mineralised corridor, particularly when they sit on the same structural trend.

The Reynolds Range project covers 791km² across four granted exploration licences: EL23655, EL23888, EL28083 and EL33881. The tenure lies within the Aileron Province of the North Australian Craton and includes the more than 42km-long Stafford Gold Trend, with 50 kilometres of strike associated with the Trans-Tanami regional structure.

iTech noted that the area has seen substantial shallow drilling historically, but limited deeper fresh-rock testing. That context is important because shallow programmes often identify surface anomalies, while deeper drilling is usually needed to test whether those anomalies connect to stronger bedrock mineralisation.

Furthermore, there is a tenure point worth noting. Under the current joint venture framework, SQM International Pty Ltd has an option to earn up to 70% of the lithium mineral rights at Reynolds Range. iTech retains 100% of all other commodities, which includes the gold and antimony rights tied to the current drilling campaign.

Understanding Epizonal Gold-Antimony Systems

What Is an Epizonal System?

The report places Sabre and Falchion within an epizonal gold-antimony system. An epizonal system is a mineral deposit formed at shallow levels in the Earth's crust, generally under lower temperature and pressure conditions than deeper gold systems. These deposits are commonly controlled by faults and fractures, which act as pathways for mineral-rich fluids.

At Reynolds Range, iTech noted that mineralisation is:

• Steeply dipping
• Structurally controlled
• Hosted in a metasedimentary sequence
• Closely associated with gold, antimony, stibnite and sulphides

This style matters because it can show a vertical metal pattern. According to the company's interpretation, antimony-rich zones may occur higher in the system, while gold-rich zones may strengthen with depth.

That interpretation is central to the significance of FLRC26-009, which returned 8m @ 0.95% Sb from 46m in a new northwestern zone identified by soil sampling about 180m northwest of earlier drilling. iTech interprets this as a higher-level antimony-dominant part of the system, with deeper drilling planned to test for stronger gold mineralisation below.

Glossary of Key Terms

iTech compared the geological style at Reynolds Range with central Victorian gold-antimony systems including Sunday Creek, Fosterville and Costerfield. The company also included a cautionary statement that these references are based on geological style only and should not be taken as predictive of outcomes at Reynolds Range.

What the Drilling Geometry Suggests

In the JORC tables, the company noted that Falchion holes were drilled roughly orthogonal to the interpreted strike of mineralisation, at dips of approximately 55 to 65 degrees and azimuths around 185 to 195 degrees.

Drill orientation affects how accurately a hole cuts across a mineralised structure. A better angle can provide a clearer picture of thickness, continuity and geometry. According to the report, the current drilling approach has improved iTech's understanding of the orientation, grade and thickness of mineralisation at both Falchion and Sabre.

The release also noted that no orientation-based sampling bias has been identified in the current data, although further structural work is still required. That is typical for an exploration project at this stage, where the geological model is still being refined hole by hole.

Assay Methods and Sample Quality

How Were Samples Collected and Analysed?

The announcement included detailed JORC disclosure on sampling and assays, which can be relevant when investors are assessing confidence in early-stage results. According to the report:

• Drilling used a 5 ¾ inch RC bit
• Samples were collected at 1m intervals
• Subsamples were riffle split at the cyclone
• Gold was analysed by FA50N/MS fire assay
• Multi-element assays, including antimony, used a four-acid digest

The company highlighted that gold at Falchion and Sabre may be microcrystalline, meaning it occurs in very fine particles. In practical terms, very fine gold can sometimes be under-reported if sample preparation is too coarse. iTech said the selected assay methods were chosen to better capture that style of mineralisation.

The programme also included standards, blanks and duplicates as part of quality control, while significant intersections were independently checked by both the project geologist and the managing director.

Next Steps and Near-Term Catalysts

According to the update, iTech has already moved to follow-up drilling. A further 10 RC holes have been completed at Sabre since late July 2026, targeting deeper down-dip extensions and strike extensions to the north-east, both of which remain open.

Once the Sabre work is finished, the rig is expected to return to Falchion to test extensions to the mineralisation reported in this release, including deeper drilling below the new northwestern antimony zone.

The near-term work programme includes:

Metallurgical test work is also underway to assess gold and antimony recoveries and the possible future reporting of a gold equivalent figure. No metal equivalent values were reported in this release.

Investor Takeaway from the Reynolds Range Update

The latest Reynolds Range drilling update strengthens iTech's exploration case in several meaningful ways. First, the company has now confirmed two high-grade prospects within the same broader structural corridor. Second, the reported mineralisation remains open, leaving scope for more drilling to extend the system.

Third, the intercepts are relatively shallow, which can be meaningful in early-stage project assessment. Shallow mineralisation may support simpler and lower-cost development concepts if future work continues to deliver positive results.

The dual presence of gold and antimony also broadens the project's relevance. Gold remains the dominant value driver for many investors, while antimony has industrial importance and can add to the overall economics if recoveries and continuity are confirmed.

For now, Reynolds Range remains an exploration story rather than a development case. However, according to the ASX announcement, Falchion has added a second high-grade zone to the project, and the drilling pipeline at Sabre and Falchion suggests an active flow of catalysts through the second half of 2026.

"The Falchion results suggest Reynolds Range may be developing into a multi-prospect gold-antimony system, with high-grade mineralisation confirmed 1.6km apart and follow-up drilling already underway."

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