MBK’s Gold Ambitions Hinge on Hastings Shareholder Approval and Drilling Results
Recent drilling by Hastings Technology Metals at the Seven Leaders prospect confirms high-grade near-surface gold mineralisation, underpinning a maiden resource estimate. Metal Bank’s pending acquisition of the Whiteheads Gold Project signals a strategic shift toward gold production.
- High-grade gold intersections confirmed over 250m strike at Seven Leaders
- Maiden Mineral Resource Estimate expected December 2025
- Metal Bank to acquire Whiteheads Gold Project pending Hastings shareholder approval
- Drilling results exceed historical grades and remain open at depth and along strike
- Acquisition aligns with Metal Bank’s transition to mid-tier gold producer
Strong Drilling Results at Seven Leaders
Hastings Technology Metals Ltd has delivered encouraging results from its recent reverse circulation drilling program at the Seven Leaders prospect, part of the Whiteheads Gold Project near Kalgoorlie, Western Australia. The drilling confirmed high-grade gold mineralisation close to the surface, with notable intercepts such as 5 metres at 15.17 grams per tonne gold and 35 metres at nearly 2 grams per tonne from surface. These results not only validate historical data but suggest the deposit is larger and richer than previously understood.
Towards a Maiden Resource Estimate
With 21 of 32 drill holes reported, Hastings is progressing geological modelling and resource estimation work, supported by consultancy firm Entech. The company anticipates announcing a maiden JORC-compliant Mineral Resource Estimate (MRE) in December 2025. The mineralisation remains open both along strike and at depth, indicating potential for further resource growth. This modern drilling program marks the first since 2019, providing a fresh and robust dataset for evaluation.
Metal Bank’s Strategic Acquisition
Metal Bank Limited (MBK) has agreed to acquire the Whiteheads Gold Project and other Hastings gold assets, subject to Hastings shareholder approval at their upcoming Annual General Meeting. This acquisition is a cornerstone of MBK’s transformation strategy, aiming to evolve from a junior explorer into a mid-tier gold producer. Alongside its existing Livingstone Gold Project in Western Australia and critical minerals projects in Queensland, the Whiteheads acquisition enhances MBK’s portfolio with near-term production potential.
Looking Ahead
MBK’s Executive Chair, Ines Scotland, highlighted the significance of the drilling results and the acquisition in positioning the company for production in 2026. With mining approvals and mine design work underway, MBK is preparing to advance Seven Leaders through development stages swiftly. The company’s broader strategy includes progressing other gold and critical minerals projects domestically and internationally, including ventures in Saudi Arabia.
While the final assay results from the remaining drill holes are awaited, and shareholder approvals remain pending, the current data and strategic moves suggest a promising outlook for MBK’s growth and value creation in the gold sector.
Bottom Line?
Metal Bank’s pending acquisition and strong drilling results set the stage for a pivotal growth phase in 2026.
Questions in the middle?
- Will the remaining drill results confirm and expand the current high-grade mineralisation?
- How will Hastings shareholder approval impact the timing and terms of the acquisition?
- What are Metal Bank’s plans for integrating and developing the Whiteheads project alongside its existing assets?
