FBM’s Tenement Deal Clears Path but Raises Questions on Exploration Timelines
Future Battery Minerals Ltd has significantly expanded its gold exploration footprint at Coolgardie by staking seven new tenements, increasing its project area and setting the stage for upcoming drilling campaigns.
- Seven new contiguous tenements staked at Burbanks East, expanding project to over 10km²
- Total Coolgardie Greenstone Belt tenure now exceeds 75km², fully owned and royalty-free
- Proximity to established gold mines Burbanks and MacPhersons Reward enhances prospectivity
- Historical drilling at Miriam shows promising gold intercepts, with RC drilling planned for July 2025
- Agreement reached with competing applicant to secure tenement priority
Strategic Expansion in a Proven Gold Belt
Future Battery Minerals Ltd (ASX – FBM) has taken a decisive step to broaden its gold exploration activities in Western Australia's renowned Coolgardie Greenstone Belt. By staking seven new contiguous tenements at the Burbanks East Project, FBM has expanded its landholding to over 10 square kilometres in this highly prospective region. This move increases the company's total tenure in the Coolgardie Greenstone Belt to more than 75 square kilometres, all of which is 100% owned and free from third-party royalties or offtake agreements.
The Burbanks East area is strategically located near significant gold operations, including the Burbanks Gold Mine, which holds a resource of 466,000 ounces at 2.4 grams per tonne, and the MacPhersons Reward Gold Mine with 132,000 ounces at 1.2 grams per tonne. These neighbours underscore the potential of the geological setting FBM is now exploring.
Building on Encouraging Historical Data
FBM is currently undertaking a comprehensive review of historical geological and drilling data across the newly acquired tenements. Early indications are promising, especially when compared to the company's Miriam Project, where previous drilling intercepted multiple shallow gold zones with grades ranging from approximately 1 to over 7 grams per tonne. These results have laid the groundwork for an upcoming reverse circulation drilling program scheduled for July 2025.
The company plans to complement its data review with magnetic geophysical surveys and ground truthing exercises to refine gold target definitions. This systematic approach aims to unlock new zones of mineralisation within the largely underexplored Burbanks East tenements, which have seen limited drilling activity since the mid-2000s.
Securing Tenure and Funding for Growth
Securing the new tenements was not without challenge. FBM negotiated an agreement with a competing applicant, resulting in the withdrawal of rival claims in exchange for a combination of cash and shares valued at $150,000, subject to escrow conditions. This agreement clears the path for FBM to advance its exploration plans without encumbrances.
Financially, FBM is well-positioned to execute its exploration strategy, boasting a strong cash balance of A$7.4 million and zero debt as of March 31, 2025. This solid footing provides the company with the runway to pursue its ambitious work programs across both Burbanks East and Miriam projects through 2025 and beyond.
Looking Ahead
With exploration activities ramping up, FBM’s expanded footprint in a fertile gold province, combined with encouraging historical data and robust funding, sets the stage for potentially significant discoveries. The coming months will be critical as the company releases results from its data reviews and initiates drilling campaigns that could materially enhance its resource base and market position.
Bottom Line?
FBM’s expanded tenure and upcoming drilling mark a pivotal phase in its quest to unlock new gold resources in Coolgardie.
Questions in the middle?
- What specific new gold targets will emerge from the ongoing historical data review at Burbanks East?
- How will the upcoming July drilling at Miriam influence FBM’s exploration strategy and valuation?
- What are the potential timelines and hurdles for the granting of the newly staked tenements?
