Bubalus Resources spots gold and antimony near Fosterville

• BUS finds up to 34ppb gold and 158ppm antimony at Crosbie North
• Project is in the heart of Victoria’s goldfields near Fosterville and Costerfield mines
• Company plans to commence drilling in Q3

Special Report: Bubalus Resources has found significant gold and antimony anomalies at its Crosbie North project in the heart of the Victorian goldfields.

Crosbie is 18km from Agnico Eagle’s (NYSE:AEM) Fosterville gold mine and 20km from Mandalay Resources (TSX:MND) Costerfield gold mine.

An extensive soil sampling program in which 380 samples were gathered, has flagged peak values of 34ppb gold in soil and 158ppm antimony. This is supported by existing rock chip samples of up to 12.1g/t gold and 2.02% antimony.

Bubalus Resources (AX:BUS) has defined two key target areas and mineralisation styles at the Crosbie licence area – Crosbie North and Crosbie South.

At Crosbie North the company is investigating gold and antimony mineralisation in folded and faulted metasediments of the Castlemaine Group, analogous to Fosterville.

Drilling planned for Q3

The company is refining drill targets by analysing geochemical data, planning a further ground-based induced polarisation geophysical survey and geological/structural mapping.

It is expected that these activities will lead to the definition of targets for drilling during Q3, 2025.

At Crosbie South drilling is scheduled to begin later this month to investigate potential intrusion related gold system (IRGS) mineralisation, where chargeability anomalies and high-grade surface rock chips have defined drill targets.

Watch: Field programs begin as exploration heats up in Victoria’s goldfields

This article was developed in collaboration with Bubalus Resources, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.