Golconda
OVERVIEW
Large-scale polymetallic gold–silver–zinc system with a significant gallium (critical-mineral) credit — 100% owned, NW Arizona
Mineralised structural zone 2,500 m long × 200–600 m wide; six defined veins, including the Tub and parallel Green Linnet, Good Hope and Mexican veins
High-grade gold–silver in parallel veins: 15.2 m @ 8.24 g/t Au (GRC40); 16.8 m @ 4.34 g/t Au & 68.8 g/t Ag (GDD09)
Gallium hosted in sericite/clay alteration; validated low-cost flowsheet with grades up 150–200% to concentrate
Immediately adjacent to the Mineral Park copper–molybdenum–silver mine; historic Zn–Pb district with limited modern precious-metal exploration before G50
2026 drilling confirms Au–Ag–Zn (+ Pb, Cu) and gallium over 1.3 km of strike and from surface to 400 m depth with roughly double the 2025 footprint and remains open
Broad, shallow gallium from surface in every hole, e.g. 437 m @ 18.1 g/t Ga (GDD07)
Core drilling complete (assays flowing); RC drilling ongoing, with further holes planned at the Golden Eagle Mine
Discovery & Scale
- Discovery hole GRC06: 35m @ 5.2 g/t Au, 5.9 g/t Ag from 177m (2023)
- GRC22: 47.2m @ 2.0 g/t Au, 40.2 g/t Ag, 0.29% Zn from 191m (2025)
- 1.3 km strike drilled at depth to 400m confirmed on Tub Vein
- 6 parallel vein systems: Tub, Golconda, Primrose, Green Linnet, Good Hope, Mexican
Gallium | Critical Mineral
- Pervasive ~15.5–20.2 g/t Ga over 190–430+ m intervals from surface
- Low-cost screening + flotation: 150–200% Ga upgrade, 70% recovery
- Multiple revenue streams: Ga concentrate + Au/Ag + base metal credits
Figure 1. Golconda Project relative to Mineral Park and the district-scale structure
Golconda Scale
District-Scale Footprint
- Polymetallic discovery confirmed over a 1.3 km strike length and from surface to 400 m depth on the Tub Vein.
- Sits within a 2,500m long, 200-600m wide major structural zone — current drilling has tested less than half of the system.
- Open along strike and at depth
Multiple Parallel Vein Systems
- Six mineralised structures identified to date with:
- Tub (Au-Ag-Zn)
- Golconda (Zn-Pb-Au-Ag)
- Primrose (Zn-Pb-Au-Ag)
- Green Linnet (Au-Ag)
- Good Hope (Au-Ag)
- Mexican (Au-Ag).
- Tub Vein occupies a fault zone up to 100m wide.
- Stacked, repeated mineralisation across a wide corridor supports district-scale tonnage potential.
Figure 2. 2025–2026 RC and core collar locations across the Golconda vein system
Golconda Drilling Results 2026
High-Grade Gold & Silver Intercepts
Core Drilling – High Grade Intercepts
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| GDD09 | Good Hope Vein | 216.4 | 16.8 | 4.34 | 68.8 | – |
| incl. | Good Hope Vein | 219.5 | 10.7 | 6.63 | 105.3 | – |
| GDD09 | Good Hope Vein | 185.9 | 1.5 | 11.20 | 267.0 | 0.55 |
RC Drilling
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| GRC06 | Tub Vein | 176.8 | 35.0 | 5.2 | 5.9 | – |
| incl. | Tub Vein | 202.7 | 9.1 | 19.5 | 17.8 | – |
RC Drilling – High Grade Intercepts
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| GRC39 | Good Hope | 45.7 | 12.2 | 0.56 | 200.0 | 0.09 |
| incl. | Good Hope | – | 4.6 | 0.91 | 467.0 | – |
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| GRC06 | Tub Vein | 48.8 | 15.2 | 8.24 | 59.9 | 0.04 |
| incl. | Tub Vein | 50.3 | 7.6 | 13.61 | 98.9 | – |
Depth Continuity Confirmed
Core Drilling – Depth Intercepts
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| GRC22 | Tub Vein | 191.0 | 47.2 | 2.09 | 40.2 | 0.29 |
| incl. | Tub Vein | 198.0 | 16.8 | 5.19 | 100.2 | 0.57 |
| GDD04 | Tub Vein | 192.9 | 13.4 | 1.63 | 31.0 | 0.16 |
| GDD04 | Tub Vein | – | 1.2 | 1.27 | 73.5 | 0.38 |
| GDD05 | Tub Vein | 201.8 | 14.9 | 0.27 | 44.8 | – |
| incl. | Tub Vein | – | 3.7 | 1.01 | 165.8 | – |
| GDD05 | Tub Vein | 322.5 | 13.1 | 0.50 | 9.0 | 0.09 |
Surface Channel Samples
| Hole | Target Vein | From (m) | Width (m) | Au (g/t) | Ag (g/t) | Zn% |
| Channel | Surface | – | 1.0 | 0.9 | 210.0 | – |
| Channel | Surface | – | 1.2 | 0.7 | 32.0 | – |
Pervasive Gallium Envelope
- GRC39 — 213.3m at 18.1 g/t Ga from surface.
- GRC40 — 213.3m at 17.4 g/t Ga from surface.
- GDD05 — 431.7m at 18.2 g/t Ga from surface.
- GDD07 — 436.4m at 18.1 g/t Ga from surface.
- GDD03, GDD04, GDD06 and GDD09 — all returned continuous 200-300+ m intervals at 16-20 g/t Ga.
Pervasive, Shallow, Metallurgically
- Gallium grades consistent at ~15.5-20.2 g/t over 190-430+ m intervals, largely from surface.
- Gallium associated with sericite / argillic alteration halos are primary target for commercialization. Suggests bulk-tonnage host (alteration) envelope and not narrow vein-confined.
- Met work validates low-cost screening + flotation flowsheet — 150-200% Ga upgrade with 70% recovery (unoptimized) into concentrate.
APRIL 2026 G50 WEBINAR UPDATE
Golconda Gallium Metallurgy Validated
