Accelerate Resources (ASX:AX8) confirms emerging gold shoot at Paris Gift and outlines next phase of drilling at Balagundi

Accelerate Resources Chief Executive Officer Luke Meter provides detailed commentary on the Company’s first Reverse Circulation drilling at the Paris Gift Trend within the Balagundi Gold Project, outlining the geological continuity now established along the targeted shear corridor, the development of an emerging high grade shoot model, and the technical rationale underpinning the next phase of drilling across both Paris Gift and the Iron Bound Prospect.

The discussion focuses on the factual outcomes from the initial program, the structural interpretation derived from integrated drilling and mapping, and the systematic approach being applied to refine shoot geometry, assess strike and depth continuity, and prioritise follow up targets within a largely underexplored gold camp east of Kalgoorlie.

What do the initial RC drilling results at the Paris Gift Trend demonstrate in terms of geological continuity and grade distribution along the targeted structure?

The first RC program at Paris Gift comprised 6 holes for a total of 714 m, and every hole intersected the targeted shear hosted structure, confirming that the interpreted lode position is in excess of 300 m of strike and remains open along trend.

This consistency across all sections provides early validation of the structural model and supports the interpretation of a coherent mineralised system developed along the Paris Gift Trend.

“All six RC holes intersected the targeted shear structure, demonstrating continuity of gold mineralisation over at least 300 m of strike and confirming the presence of a continuous gold bearing lode that remains open.”

From a grade distribution perspective, the drilling returned multiple coherent mineralised intervals across several sections and at varying depths, including 6 m at 1.47 g/t Au from 114 m in hole 25BGRC006, 4 m at 1.29 g/t Au from 102 m and 5 m at 1.11 g/t Au from 125 m in hole 25BGRC004, and 4 m at 0.91 g/t Au from 52 m in hole 25BGRC003, which collectively demonstrate that gold mineralisation is laterally persistent and not restricted to a single localised zone.

True width estimates support the interpretation of a coherent, moderately dipping mineralised lode with good structural continuity at Paris Gift.

How does the emerging shoot model refine the geological interpretation of the Paris Gift Trend and its implications for future targeting?

Integration of the RC drilling results with surface mapping and structural analysis indicates that gold mineralisation along the Paris Gift Trend is concentrated within discrete higher grade shoots developed along a regionally significant shear corridor, rather than being uniformly distributed along the entire length of the structure.

The current drilling is interpreted to have intersected the eastern margin of one such shoot, with geological modelling indicating that gold tenor strengthens toward the northwest, thereby defining a clear vector for follow up drilling along strike and down plunge.

“Geological modelling indicates that gold is concentrated in discrete higher grade shoots along the Paris Gift Trend, with the current drilling interpreted to have intersected the eastern margin of a newly identified mineralised shoot that strengthens toward the northwest.”

This shoot based interpretation provides a focused framework for subsequent drilling, allowing programs to be designed to systematically test the interpreted plunge of the shoot and to assess the potential for additional shoots within the same shear corridor, which remains largely untested over significant strike beneath transported cover.

What is the planned scope and sequencing of the next phase of RC drilling across Balagundi?

The RC rig is scheduled to recommence drilling with an initial focus on the Iron Bound Prospect, where planned holes will target down dip extensions of historic high grade workings that occur perpendicular to the dominant northwest southeast trending structural corridors recognised across the Balagundi Gold Camp, thereby testing depth continuity within the same regional structural framework.

Upon completion of the Iron Bound program, drilling will return to the Paris Gift Trend, where the program is designed to extend mineralisation to the northwest along strike, infill around the newly defined mineralised shoot, and test for additional high grade shoots within the interpreted shear hosted structure.

“RC drilling will recommence at Iron Bound to test down dip extensions of historic high grade workings before returning to Paris Gift to extend along strike, infill the newly identified shoot and assess the potential for additional high grade shoots within the same structural corridor.”

This sequencing enables both priority areas to be advanced within a single campaign while progressively refining the three dimensional geological model and the understanding of gold distribution across the broader Balagundi system.

What has been established from the concurrent aircore program and how does it integrate with the RC results?

The first phase aircore program comprised 31 shallow holes for 1,826 m, drilled on wide spacing to obtain first pass subsurface geological and structural information beneath transported cover, particularly in areas to the northwest of the Paris Gift Trend where previous drilling had been limited.

This work has materially improved understanding of bedrock geology and structural architecture, confirming the presence of multiple prospective structural positions that are consistent with the shear corridors hosting mineralisation at Paris Gift and Iron Bound.

“Wide spaced aircore drilling has confirmed multiple prospective structural positions beneath transported cover to the northwest of Paris Gift, materially improving the geological and structural understanding of the broader Balagundi Gold Camp.”

Although assay results are pending, the structural data have already assisted in refining target generation, and a second phase of targeted aircore drilling is planned following completion of the upcoming Phase 2 RC program, allowing results from both datasets to be fully integrated into the evolving geological model and subsequent drill planning.

How does the broader geological setting of Balagundi support the exploration strategy being implemented?

The Balagundi Project is located within the Norseman Wiluna Belt of the Yilgarn Craton, approximately 15 km east of Kalgoorlie, and lies in proximity to major gold operations including the Kanowna Belle operation and the KCGM Super Pit, which together demonstrate the fertility of the broader district.

The approximately 27 km² project area hosts porphyritic basalts, dolerite sills, sediments and felsic intrusives, a geological setting that is prospective for orogenic and intrusion related Archaean gold systems, and historic production of approximately 4,000 oz from the Queen of Balagundi and Mt Bellew mines confirms the presence of high grade mineralisation within the camp.

“Balagundi is situated within the Norseman Wiluna Belt in close proximity to multi million ounce gold operations, within a geological setting that is prospective for shear hosted and intrusion related Archaean gold systems and remains underexplored beneath transported cover.”

Mineralisation is interpreted to be structurally controlled by NNW trending shears with associated tension vein arrays and stockworks, with enhancement at ENE oriented faults and along folded dolerite and basalt sediment contacts extending over more than 8 km of strike, and the current focus on defining and extending shear hosted shoots at Paris Gift and Iron Bound, together with systematic aircore drilling beneath cover, is therefore aligned with both the known geological controls and the broader scale potential of the Balagundi Gold Project.

Next phase drilling to extend shoot development and test structural scale at Balagundi

With the initial RC program confirming continuity of the Paris Gift lode and identifying the margin of an emerging high grade shoot, Accelerate Resources is advancing into a follow up phase of RC and aircore drilling designed to extend mineralisation along strike and at depth, test parallel structural positions, and progressively build a robust three dimensional understanding of gold distribution across the Balagundi Gold Project.

The planned work program is designed to translate the established structural continuity into defined shoot geometry, while systematically assessing the potential for multiple mineralised centres within a regionally significant shear corridor that remains open and only partially tested.

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