Eastern Resources Limited (ASX: EFE) has provided an overview of its activities for the quarter ending 30 June 2026, with a significant highlight being the progress at its Marengo Gold Project in Queensland. Eastern Resources Limited is an Australia-based, ASX-listed company focused on the exploration and development of precious metals and critical minerals projects. During the quarter, the company completed maiden reconnaissance fieldwork at Marengo, located approximately 45 kilometres southeast of the 1.1 Moz Mt Carlton Gold mine within the prolific Queensland mineral belt. This initial work involved systematic mapping and sampling to assess the potential for shallow gold-bearing quartz veins.
The Marengo project, identified as a high-level Intrusion Related Gold Copper System, focused initial exploration on three key areas: One Mile Mountain, Sulphide Shaft, and Seymour’s Reef, which collectively contain over 50% of known historic workings. The fieldwork successfully confirmed the location of almost all historic workings and led to the discovery of new, un-named occurrences. Notably, a prospective north-northeast oriented vein system was identified at Reza’s Reef, extending approximately 1.7 kilometres with an estimated width of one metre, accompanied by parallel veins. Sixty rock chip samples from various prospects were subsequently sent for laboratory analysis.
Following the quarter end in July 2026, assay results from these rock chip samples were received, indicating significant gold mineralisation. Of the 60 samples, 54 returned greater than 0.1 parts per million (ppm) gold, with two samples exceeding 10 ppm gold, peaking at 12.3 ppm. A further ten samples showed results over 5 ppm gold, and another ten over 1 ppm gold. The results confirm the high-grade nature of the quartz vein-hosted gold-silver mineralisation, with pathfinder elements like bismuth strongly correlating with high-grade gold. In other activities, the Nowa Nowa Iron Project continued its Environmental Effects Assessment approval process, while no exploration work was conducted at the Nowa Nowa Copper Project or the company’s lithium projects. Eastern Resources reported cash and cash equivalents of approximately $3.27 million at the end of the quarter.
