G50 Corp Confirms District-Scale Precious and Strategic Metals Discovery at Golconda

G50 Corp (ASX: G50) has confirmed a significant district-scale discovery of precious and strategic metals at its Golconda project in Arizona.

Final results from holes 27 thru 38 of the company’s Phase 2 reverse circulation (RC) drilling revealed a 700-metre corridor of shallow polymetallic mineralisation – including gold, silver, zinc and gallium – across multiple zones.

Consistent gallium intercepts and increasing gold grades at depth point to both near-term extraction potential and long-term upside across the broader Tub Zone.

Multiple Stacked Zones Confirmed

Conducted throughout 2025, the drilling program has confirmed multiple stacked zones of mineralisation extending from surface to 180m depth.

The Tub Vein produced the standout intercept of 32m at 0.61grams per tonne gold, 18.15g/t silver, 4.21% zinc and 0.11% copper from just 9.1m depth in hole GRC 30.

This included a higher-grade interval of 12.2m at 1.5g/t gold, 41g/t silver, 9.8% zinc and 0.28% copper.

The Tub Footwall also delivered promising results, including 19.8m at 0.37g/t gold and 44.26g/t silver from 128m depth, with internal zones grading as much as 1g/t gold and 256g/t silver.

Strategic Gallium Adds Key Dimension

In parallel with its precious and base metal results, G50 reported consistently strong gallium grades from all 12 Phase 2 holes targeting the element.

The highest gallium intercept measured 204m at 18.1g/t from 9.2m depth, with most holes recording grades around 18–19g/t over intervals exceeding 150m.

Mineralogy test work has confirmed that approximately 90% of the gallium is hosted in sericite, which G50 described as “an outstanding characteristic” for extraction using conventional processing routes.

The company is now assessing the potential for selective concentration and leaching to enable commercial recovery of gallium alongside gold, silver and zinc.

District-Scale Potential Emerging

Drilling has delineated the mineralised corridor at the Tub Zone, as part of a broader 3km trend that also hosts the historic Golconda, Primrose and Big Bethel mines.

The zone lies on a 20km-long crustal structure in Arizona’s Basin and Range province, with alteration features and host lithologies indicating a mesothermal polymetallic vein system.

G50 noted that gold grades appear to increase with depth, supported by silver-to-gold ratio changes in cross-section between GRC 28 and deeper hole GRC 06.

Next Steps and Forward Program

The company plans to test strike and depth extensions with diamond and RC drilling, including follow-up on GRC 06’s 35m at 5.2g/t gold and GRC 22’s 47.2m at 2g/t gold.

It will also commence metallurgical test work on gallium, gold and base metals and begin early permitting works including baseline environmental studies.

Managing director Mark Wallace said the discovery was of strategic importance given its mix of precious and critical metals.

“The combination of polymetallic mineralisation, extensive strike length, high-grade intercepts and increasing gold grades at depth highlights the project’s importance and potential.”