Golden Globe Resources (ASX: GGR) has completed its Phase 1 exploration drilling program at the Dooloo Creek project in Queensland and advanced maiden drilling at the Neila Creek project in New South Wales during its first full quarter after listing.
The company drilled a combined 4,075 metres across the two programs during the March quarter, comprising 2,909.4m of diamond drilling (DD) and 1,166m of reverse circulation (RC) drilling.
Managing director Colin McMillan said the company was pleased with the outcome of the Dooloo Creek program and expects to release an update on the project soon as results continue to come in.
The quarter also included rock sampling and geological mapping at Neila Creek, renewal discussions for Dooloo Creek land access, partial relinquishment of the Alma tenement, and progress on the acquisition process for a copper-gold-tungsten tenement in NSW.
Dooloo Creek Phase 1 Drilling Completed
Drilling at Dooloo Creek resumed in early January after the Christmas-New Year break, with diamond hole NG001 restarted from 120m and completed at 501.6m.
Three further DD holes were completed during the quarter, taking Dooloo Creek diamond drilling to 1,642m for the period.
Golden Globe also completed six RC holes at Dooloo Creek for 1,166m, giving the company a substantial first-pass dataset to assess.
Following completion of the Phase 1 program, informal discussions were held with the Dooloo Tops Cattle Station landowner to renew the access agreement covering ongoing exploration activities.
Neila Creek Drilling Opens NSW Program
Diamond drilling began at Neila Creek in February and remained active at the end of the reporting period.
Hole PORD001 was completed to 328m, PORD002 was drilled to 629.4m before being temporarily halted while awaiting further drill rods, and PORD003 had reached 310m by quarter-end.
The project sits in a previously under-explored part of the Lachlan Fold Belt, where Golden Globe is earning up to 90% under a joint venture agreement with ARGODATA.
Mr McMillan said the company had already completed the first DD hole at Neila Creek, with the Phase 1 campaign adding a second active exploration front alongside Dooloo Creek.
Rock Samples Add Early Surface Results
Golden Globe collected four rock samples from the Neila Creek locality during the quarter, with assay results received on 28 January.
The best result returned 2.16 grams per tonne gold and 82 parts per million copper.
A second sample from the same locality returned 0.855g/t gold and 19ppm copper, while another returned 0.418g/t gold and 13ppm copper.
Those results will feed into further geological assessment as the company reviews drilling and surface work to define the next stages at Neila Creek.
Post-Listing Execution Continues
Golden Globe listed on the ASX during the December quarter after completing an initial public offering that raised $8.5 million before costs.
The company moved quickly from listing into drilling, with the March quarter demonstrating early execution against its stated IPO milestones.
Exploration, evaluation, and development spending totalled $1.02m during the quarter, with the company holding about $5.3m in cash at 31 March.
Golden Globe established its primary place of business in Orange during the period, supporting its expanding NSW activity base.
Next Steps Take Shape
The June quarter work program will focus on reviewing assay results from both drilling programs to develop the next exploration steps.
Further geophysical and geological studies are planned across Golden Globe’s three projects to identify suitable follow-up activities.
Additional drilling is then expected at Dooloo Creek and Neila Creek to refine geological models and guide ongoing exploration.
Initial plans have also been proposed to advance the Alma project, with field work scheduled to begin in the December quarter.
