Dynamic Metals Gains $175K Co-Funded Drilling Approval, Reports 1.43ppm Gold Soil Anomaly

Government-Backed Drilling at Cognac West

Dynamic Metals Limited (ASX, DYM) has secured approval for a co-funded diamond drilling program under the Western Australian Government’s Exploration Incentive Scheme (EIS) at its Cognac West Gold Prospect. This endorsement provides up to $175,000 in funding, covering half of eligible drilling and mobilisation costs, underscoring the prospect’s potential within the Widgiemooltha Project.

The planned four-hole diamond drilling campaign aims to test gold and copper mineralisation beneath areas with limited historic drilling and transported cover. Previous reverse circulation drilling in 2025 yielded encouraging intercepts, including 8 metres at 2.78 grams per tonne gold and 1 metre at 1.06% copper, reinforcing the interpretation of a structurally controlled gold-copper system. The timing of the drilling will depend on contractor availability, with a 12-month window to complete the program.

Soil Sampling Advances at Leinster and Lady Jane

Complementing the drilling plans, Dynamic Metals has completed a first-pass soil geochemistry program at the Leinster Gold Project, located about 6 kilometres south of Agnew. The sampling, conducted on 200-metre spaced lines with 50-metre intervals, identified coherent gold-in-soil anomalies, including a standout 1.43 parts per million gold value near the historic Risdon Prospect. These anomalies align with interpreted structural trends from a UAV magnetic survey, suggesting promising targets for follow-up exploration.

At the Lady Jane Gold Project, regional soil sampling is underway across two exploration licences, focusing on structurally favourable corridors such as the Ida Fault system and areas proximal to the significant Zuleika Shear. This program aims to generate a systematic geochemical dataset over areas with limited outcrop and shallow transported regolith, building on historic gold anomalism and previous auger sampling by other operators.

Strategic Exploration Pipeline Development

Dynamic Metals’ methodical approach to exploration emphasizes building robust geological and geochemical datasets to prioritise drill targets across under-explored but highly prospective terranes. The integration of soil sampling results with geological mapping and geophysical data is expected to refine priority areas at Leinster and Lady Jane, while the imminent diamond drilling at Cognac West will test deeper mineralisation hypotheses.

With a cash position of approximately $3 million and a market capitalisation near $18 million, Dynamic Metals is well positioned to advance its portfolio, which includes gold, lithium, nickel, copper, and platinum group elements. The company’s flagship Widgiemooltha Project benefits from proximity to established gold camps and infrastructure, enhancing its exploration leverage.