Gorilla Gold Mines (ASX:GG8) strengthens portfolio with Comet Vale resource growth

Gorilla Gold Mines has announced a substantial update to the Mineral Resource Estimate for its 100% owned Comet Vale Gold Project in Western Australia, following a year of intensive drilling and modelling across its key prospects.

The revised estimate marks a decisive expansion in scale, positioning Comet Vale as the company’s most significant resource centre.

Highlights

• Comet Vale Mineral Resource increased by 765koz, representing ~900% growth in previously estimated ounces.

• Updated Comet Vale Mineral Resource: 7.3 Mt @ 3.7g/t Au for 0.86Moz.

• Indicated Resource: 1.7 Mt @ 4.1g/t Au for 220koz.

• Discovery cost of additional ounces: ~$25/oz.

• Western Australian Resources now total 12.4 Mt @ 3.8g/t Au for 1.5Moz.

• Total Group Resources across Australia and Canada: 15.4 Mt @ 4.0g/t Au for 2.0Moz.

• Gorilla added 6.5 Mt @ 3.7g/t Au for 1.3Moz in 2025 across Comet Vale, Mulwarrie and Vivien.

The Comet Vale Project, located 100km north of Kalgoorlie, has a recorded history of more than 200koz of gold production at grades above 20g/t Au, with underground mining undertaken as recently as 2020.

This historical foundation, combined with the project’s granted Mining Leases, highway access and proximity to multiple operational gold mills, provides a favourable setting for the company’s ongoing work.

The updated Mineral Resource Estimate was informed by 50,130m of new drilling completed between October 2024 and October 2025, integrated with historical datasets and reinterpreted using updated geological modelling.

Gold mineralisation has been identified across all stratigraphic units and is associated with shear zones, quartz veining, biotite amphibole chlorite alteration and pyrrhotite chalcopyrite sulphide development, with an Au Ag Bi Cu Pb Zn signature and minor bismuthinite, galena, sphalerite and jamesonite also observed.

The resource domains at Sovereign, Lakeview and Cheer comprise multiple steeply dipping, sub parallel structures defined at a 0.5g/t Au cut off, with higher grade zones appearing to plunge to the south east.

Within the updated estimate, the Indicated component stands at 1.7 Mt @ 4.1g/t Au for 220koz, supported by drill spacing generally less than 20 to 30m and consistent geological continuity.

The Mineral Resource has been classified in accordance with the JORC Code, with cut off grades of 0.5g/t Au for open pit material within Whittle optimised shells and 1.1g/t Au for underground material within MSO stope shapes.

The assumptions include a gold price of A$4,000/oz, conventional open pit mining with 10% dilution, and underground minimum mining width of 1.5m.

Gorilla Gold Mines Chief Executive Officer Charles Hughes said,

“The updated MRE includes a 9 fold increase in contained ounces, with 220koz classified within the higher confidence Indicated Resource category. Importantly, the additional ounces have been delivered at a discovery cost of just $25 per Resource ounce.”

Across the broader portfolio, the company now holds 12.4 Mt @ 3.8g/t Au for 1.5Moz in Western Australia, incorporating the Mulwarrie and Vivien projects, and total Group Resources of 15.4 Mt @ 4.0g/t Au for 2.0Moz when including the Labyrinth Project in Canada.

Metallurgical results support the processing characteristics of Comet Vale ore, with recoveries averaging 92% from Sovereign material previously treated at Greenfields and Lakewood mills, and bottle roll cyanidation tests from Lakeview returning 98% recovery.

Gorilla reports that development studies are underway at Comet Vale, Mulwarrie and Vivien.

Three drill rigs are currently operating at Comet Vale to target further extensions across more than ten identified mineralised structures, while two rigs continue testing extensions at Mulwarrie.

These programs provide the basis for further potential increases to the company’s resource inventory as exploration and technical evaluation progress.

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