Moonlight Resources Ltd (ASX: ML8) announced on 7 May 2026 compelling initial Phase 2 reverse circulation (RC) drilling results from its Leo Grande Prospect, part of the flagship Clermont Gold Project in Queensland. Moonlight Resources is an Australian exploration company focused on discovering gold, uranium and rare earth elements, aiming to build shareholder value through disciplined exploration across its portfolio in Australia’s premier mining jurisdictions. The company reported broad, near-surface gold intersections extending Leo Grande Central to both the south-east and north-west, confirming the continuity and growing scale of mineralisation along the Leo Grande Shear Zone, building on successful initial drilling completed in late 2025.
The latest assay results, from 22 initial holes, demonstrated significant extensions. Step-out drilling to the south-east extended Leo Grande Central by a further 200 metres towards the Leo Grande South area. Notable results included 42 metres at 1.01 grams per tonne gold from surface (LGRC102) and 40 metres at 1.31 g/t gold from 76 metres (LGRC105), which featured a 5-metre interval at 3.40 g/t gold. To the north-west, drilling extended the mineralised footprint by an additional 250 metres along strike, with key intersections such as 18 metres at 1.55 g/t gold from 60 metres (LGRC091), including 3 metres at 7.80 g/t gold.
Moonlight’s Managing Director, Mr Greg Starr, commented that these initial Phase 2 results are an important step in defining the scale, continuity, and additional growth potential of the broad gold system at Leo Grande. He highlighted that multiple holes ended in mineralisation, reinforcing the opportunity to extend the system at depth. The ongoing Phase 2 drilling program aims to increase drill density and systematically advance Leo Grande towards a maiden Mineral Resource Estimate. Following Leo Grande, the RC rig is scheduled to mobilise to the Goldfinger Prospect for an initial program of up to 2,500 metres of RC drilling.
