Australian Brabulin Gold Mine Resources Increase Significantly

According to the Miningnews.net website, Minerals 260 has updated the resource estimate for its Bullabulling project near Kalgoorlie, with the metal content doubling.

The Bullabulling project now has an ore resource of 130 million mt at a gold grade of 1 gram per mt, equivalent to a gold resource of 4.5 million ounces.

Previously, the mine was estimated to have an ore resource of 60 million mt at a gold grade of 1.2 grams per mt, equivalent to a gold resource of 2.3 million ounces.

The cut-off grade for this resource update is 0.4 gram per mt, assuming a gold price of 4,500 Australian dollars per ounce. Of this, the indicated resource is 3 million ounces, with the remainder classified as "inferred resource".

In 2025, the company completed 90,000 meters of drilling. The Gibraltar deposit's first resource is 5.4 million mt at a gold grade of 1 gram per mt, equivalent to a gold resource of 180,000 ounces. The remaining resources come from the Dicksons, Phoenix, Bacchus, and Kraken deposits.

The company believes that by increasing drilling, it can significantly increase the resource. Currently, drilling is planned at depth and along strike to prepare for another resource update in 2026.

The company revealed that a pre-feasibility study is underway and will be completed by mid-next year. The project is expected to commence production in late 2028.

In April, the company purchased the project for 166 million Australian dollars.