E79 Gold’s Mountain Home Expansion Raises Stakes as Laverton Drilling Shows Early Gold Anomalies
E79 Gold Mines advances its Laverton South drilling program with encouraging gold anomalies while consolidating full ownership and expanding the Mountain Home project in the Northern Territory, supported by government grants.
- 5,110m air-core drilling completed at Laverton South with low-level gold anomalies identified
- E79 Gold attains 100% ownership and expands Mountain Home project by 37%
- Two co-funded exploration grants awarded under Northern Territory Government’s program
- Cash balance stands at $2.11 million, supporting ongoing exploration
- No safety incidents reported during the quarter
Exploration Momentum at Laverton South
E79 Gold Mines Limited (ASX, E79) has reported solid progress in its June 2025 quarter activities, notably advancing its Laverton South Gold Project in Western Australia. The company completed 5,110 metres of air-core drilling across 69 holes, targeting geophysical anomalies near the emerging Lighthorse gold discovery by Kalgoorlie Gold Mining. Early assay results reveal a coherent 700-metre-long low-level gold anomaly, with highlights including 3 metres at 0.29 grams per tonne gold and 12 metres at 0.07 grams per tonne gold in adjacent holes. These findings have prompted further in-fill and extensional drilling, with results pending.
Mountain Home Project, Full Ownership and Expansion
In the Northern Territory, E79 Gold has exercised its final option to acquire 100% ownership of the Mountain Home Copper-Gold-Bismuth Project, increasing its footprint by 37% to 1,366 square kilometres through acquisition of mineral rights on adjoining tenements. This strategic move reduces the royalty to 1% net smelter return, capped at A$1.5 million, with an option to buy back the royalty. The project lies within the McArthur Basin, a prolific mineral province, and preliminary assessments suggest potential for significant copper-gold mineralisation akin to iron-oxide copper-gold deposits found in Tennant Creek.
Government Support and Funding
E79 Gold secured two co-funded exploration grants under the Northern Territory Government’s Geophysics & Drilling Collaborations program. These grants provide up to 50% funding for reverse circulation drilling and a large-scale airborne gravity survey, enhancing the company’s ability to identify and test new targets beneath cover. The gravity survey, in particular, is a powerful tool for detecting subsurface structures and intrusions that could host mineralisation.
Financial Position and Corporate Updates
The company ended the quarter with a cash balance of $2.11 million, bolstered by a $1.8 million placement completed earlier in the year. Exploration expenditure accounted for 75% of the quarter’s spending, reflecting a clear focus on advancing its key projects. Importantly, all exploration activities were conducted safely with no incidents reported.
Looking Ahead
With assay results from recent drilling at Laverton South awaited, and the Mountain Home project poised for detailed geophysical and drilling programs supported by government funding, E79 Gold is positioned to unlock further value from its extensive tenement portfolio. The company’s strategic focus on high-potential gold and base metal provinces in Western Australia and the Northern Territory underscores its commitment to discovery and growth.
Bottom Line?
E79 Gold’s next assay results and funded exploration programs will be pivotal in defining its growth trajectory.
Questions in the middle?
- Will the pending assay results at Laverton South confirm a commercially viable gold deposit?
- How will the expanded Mountain Home project’s exploration outcomes influence E79 Gold’s valuation?
- What impact will the government co-funded programs have on accelerating discovery timelines?
