Walbiri South Drilling Yields 1m at 3012ppm eU3O8; Penrynth Shows Strong Uranium Zones

Exploration Progress in the Ngalia Basin

Energy Metals Limited (ASX – EME) has advanced its uranium exploration efforts in the Northern Territory’s Ngalia Basin with the completion of reverse circulation (RC) drilling programs at two key prospects – Walbiri South and Penrynth. These programs, conducted in September 2025, have delivered encouraging early results that reinforce the basin’s reputation as a fertile ground for uranium mineralisation.

The Ngalia Basin hosts several known uranium deposits, including the nearby Walbiri and Bigrlyi deposits, which are sandstone-hosted and stratiform in nature. Energy Metals’ recent drilling at Walbiri South, part of its 100%-owned Ngalia Regional Project, aimed to delineate the strike extent of prospective rock units identified in prior campaigns. The program successfully drilled eight holes totaling 1401 metres, confirming a strike length of at least 4 kilometres that remains open along strike.

High-Grade Intercepts at Walbiri South

All Walbiri South drillholes intersected elevated uranium levels, with standout results including a remarkable 1 metre intercept grading 3012ppm equivalent U3O8 (eU3O8) from 153 metres downhole in hole WS25003. Additional significant intercepts above 100ppm eU3O8 were recorded in other holes, underscoring the prospect’s potential to host an economic deposit similar to the nearby Walbiri deposit, which averages 641ppm uranium.

Geological observations noted the presence of carnotite and a distinctive green mineral likely to be vanadium-enriched chlorite, a mineral association common in uranium-vanadium deposits worldwide. These findings add a compelling dimension to the prospect’s mineralisation style and future exploration targets.

Maiden Drilling Success at Penrynth

Following Walbiri South, Energy Metals undertook its first drilling campaign at Penrynth, located approximately 20 kilometres west. Six holes totaling 1464 metres tested beneath a radiometric anomaly associated with an outcropping ridge of Mt Eclipse Sandstone. The results were promising, with two holes exceeding 100ppm eU3O8, including a 3-metre intercept averaging 199ppm eU3O8 in hole PR25006.

Notably, PR25006 intersected multiple mineralised zones within a thick reduced sandstone package exceeding 45 metres, the largest observed in this program. This hole targeted a secondary geophysical anomaly and lies within a prospective zone over 500 metres long that remains open in all directions, highlighting significant exploration upside.

Next Steps and Ownership Update

Energy Metals is currently compiling and interpreting the comprehensive data from both drilling programs. Plans for further drilling, including infill RC and potentially diamond drilling, are under consideration to better understand mineralisation controls and expand known zones. Additional geophysical surveys may also be conducted to refine targets along strike.

In a related development, Energy Metals’ shareholding in the Bigrlyi Joint Venture has increased marginally by 0.18% following dilution of another party due to non-payment of contributions. This slight ownership uptick enhances Energy Metals’ stake in one of the basin’s significant uranium assets.

While chemical assay results are pending to validate gamma log-derived uranium grades, the current findings provide a solid foundation for Energy Metals’ ongoing exploration strategy in the Ngalia Basin.