New drilling at our St Arnaud Comstock project has returned some of the best gold and silver results we've seen there, and they're extending mineralisation to the south on both the main Comstock Shear and the Walkers Zone.

The standout is hole NED032, which hit 4.4m at 8.9g/t gold and 57.8g/t silver from 102.8m, including a narrow 0.3m interval running 65.3g/t gold. That intercept sits just 48m below the southern part of the Comstock pit, an area with very little historical drilling and one that falls within the production licence application we've recently submitted. Holes NED033, NED034 and NED035 also returned high-grade shallow gold in the Walkers Zone, consistent with legacy results from the 1980s and 1990s.

Why this matters for the investment case: our strategy at Comstock is built around smaller-scale, near-term production from a brownfield site, using the milling capacity we've already locked in at Wedderburn under a binding processing agreement. These results support that plan and will feed into a future review of the JORC resource estimate, which currently stands at 56koz of inferred gold. Metallurgical testing is planned to confirm the gold is free-milling, given the grade and low sulphide content observed so far.

It's worth remembering the current Comstock exploration target range of 112koz to 116koz gold is conceptual. There isn't yet enough drilling to classify it as a resource, and there's no certainty further work will get it there.

Elsewhere, diamond drilling continues at our Irvine project, testing extensions near the 358koz gold resource there.

If you'd like to know more about what's in this announcement, please get in touch through the question box on this page.