New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (AU$6.11m market cap, or US$4.20m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (AU$1.6m revenue, or US$1.1m). Reported Earnings • Mar 16
First half 2026 earnings released: AU$0.007 loss per share (vs AU$0.004 loss in 1H 2025) First half 2026 results: AU$0.007 loss per share (further deteriorated from AU$0.004 loss in 1H 2025). Revenue: AU$1.60m (up AU$1.53m from 1H 2025). Net loss: AU$1.04m (loss widened 249% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. New Risk • Mar 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (AU$7.25m market cap, or US$5.13m). Minor Risk Revenue is less than US$5m (AU$1.6m revenue, or US$1.2m). Annuncio • Sep 19
Albion Resources Limited, Annual General Meeting, Nov 13, 2025 Albion Resources Limited, Annual General Meeting, Nov 13, 2025. Annuncio • Aug 13
Capricorn Metals Ltd (ASX:CMM) completed the acquisition of Mongers Lake Project from Albion Resources Limited (ASX:ALB). Capricorn Metals Ltd (ASX:CMM) entered into a binding agreement to acquire Mongers Lake Project from Albion Resources Limited (ASX:ALB) for AUD 3 million on July 31, 2025. A cash consideration of AUD 0.1 million will be paid by Capricorn Metals Ltd. The consideration consists of 0.15 million common equity of Capricorn Metals Ltd to be issued for assets of Mongers Lake Project. Capricorn Metals Ltd will pay an earnout/contingent payment of AUD 1.5 million cash. As part of consideration, AUD 2.97 million is paid towards assets of Mongers Lake Project.
The transaction is subject to approval by ASX and Ministerial, consummation of due diligence investigation and third party approval needed. The expected completion of the transaction is August 2025.
Capricorn Metals Ltd (ASX:CMM) completed the acquisition of Mongers Lake Project from Albion Resources Limited (ASX:ALB) on August 13, 2025. Under the terms of the agreement, Capricorn Metals Ltd has elected to settle the AUD 1.4 million completion payment through the issue of 149,784 fully paid ordinary shares in Capricorn Metals Ltd, based on the 20-day volume-weighted average price (VWAP) of AUD 9.35 up to and including the completion date of August 12, 2025, with shares issued on 13 August 2025. This is in addition to the AUD 100,000 non-refundable cash deposit received on execution, taking the total upfront transaction value to AUD 1.5 million. Albion Resources Limited also retains significant upside through contingent milestone payments of up to AUD 1.5 million. New Risk • Jul 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 6.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (102% increase in shares outstanding). Revenue is less than US$1m (AU$104k revenue, or US$68k). Market cap is less than US$10m (AU$15.2m market cap, or US$9.96m). New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (102% increase in shares outstanding). Revenue is less than US$1m (AU$104k revenue, or US$67k). Market cap is less than US$10m (AU$7.26m market cap, or US$4.69m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Annuncio • Apr 11
Albion Resources Completes Gradient Array Induced Polarisation (GAIP) Survey Covering 2.4 Km by 1.2 Km Grid At the Ives Find Prospect Albion Resources completed a Gradient Array Induced Polarisation (GAIP) survey covering 2.4 km by 1.2 km grid at the Ives Find Prospect. The survey used 50m station and dipole spacing with 100m receiver line spacing. The survey was designed to detect resistivity anomalies (suggesting quartz) and chargeability anomalies, (indicating semi-sulphides), which are promising indicators of gold mineralisation, particularly when they align. These findings will be instrumental in shaping the upcoming drill campaign, set to begin mid-year. Resistivity Results: The resistivity survey is designed to detect quartz veins and silicification that are commonly associated with gold mineralisation in the Yandal Greenstone Belt. Resistivity Results - Key Findings: A variable 2.5 km long northwest trend of resistivity anomalies that obliquely crosscuts the Ives Find granite plus one area along the southwestern contact; The resistivity anomalies are open to the northwest and southeast; Eight new resistivity anomalies have been identified, all previously undrilled within the central parts of the anomalies; Seven of these resistivity anomalies coincide with the chargeability anomalies; Historical mapping of northwest and northeast trending quartz veins and structures in the central and western portions of the Ives Granite are mapped within or close to the resistivity anomalies, reinforcing the validity of the data; Historical rock assays show elevated gold in northwest and southeast trending quartz veins, partially coinciding with resistivity anomalies, further, reinforcing the validity of the data; The southeast anomaly located along the contract of the granite is extremely encouraging, showing similarities to Yandal Resources's Siona discovery. The anomaly along the southwestern contact of the granite is also worthy of further investigation; and The undrilled area north of Bell Miner is a compelling drill target strongly supported by surface assays up 5.6 g/t at surface. Chargeability Results: The chargeability survey was designed to detect disseminated sulphide that is commonly associated with gold mineralisation in the Yandal Greenstone Belt. Figure 2 demonstrates the chargeability over Ives Find, with the pink denoting the high chargeability. Chargeability Results - Key Findings: Seven chargeability anomalies have been identified that are coincident and sub-parallel trends to the resistivity that occur within or along the contacts of the granite; Coincident chargeability-resistivity anomalies are open to the southwest and northwest; The strongest, central portions of each of the seven anomalies have not been drill tested; Historical rock assays of elevated gold in rocks chips are partially coincident with at least four of the coincident chargeability-resistivity anomalies. Including up to 23.3 g/t Au associated with one of the strongest chargeability anomalies which greatly enhances the prospectivity of this target area; During recent field work by Albion, one rock chip sample was taken of one of the known quartz veins at the Bell Miner workings with gossanous sulphide containing and returned assays of 114.4 g/t Au, 45.8 g/t Ag, 0.33% Cu, 0.25% Pb and 0.53% Zn; and One additional strong unexplained chargeability anomaly extending over 500m has been located to the west of the granite. A historical rock sample from the area returned 0.6 g/t Au which supports the prospectivity of the area. Although this does not coincide with a resistivity anomaly, it warrants further investigation. Rock Chip Sample by Albion: During recent fieldwork Albion took one sample of one of the known gold-bearing quartz veins at the historical Bell Miner workings. The purpose of this sample is to confirm if there is gold associated with the quartz and sulphide material in order to better understand the mineralisation style for geophysical and geochemical exploration purposes. The assay results from the lab confirmed the rock chip contained gossanous sulphide and returned 114.4 g/t Au, 45.8 g/t Ag, 0.33% Cu, 0.25% Pb and 0.53% Zn. This work confirms that quartz veins with high grade gold are certainly coincident with sulphide some of which is rich in base metals and even silver. This is an important observation since it shows the association between gold with quartz silica, detected by IP resistivity, and sulphide, detected by IP chargeability. This will also help guide Albion as the company leverages off soil samples and historical rock chips to identify drill targets. New Risk • Feb 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 59% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m (AU$127k revenue, or US$79k). Market cap is less than US$10m (AU$4.15m market cap, or US$2.60m). New Risk • Jan 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m (AU$127k revenue, or US$80k). Market cap is less than US$10m (AU$3.34m market cap, or US$2.11m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Annuncio • Dec 02
Albion Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Albion Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 44,444,444
Price\Range: AUD 0.045
Transaction Features: Subsequent Direct Listing Annuncio • Nov 29
Albion Resources Limited (ASX:ALB) agreed to acquire Yandal West Gold Project from Great Western Exploration Limited (ASX:GTE) for AUD 1 million. Albion Resources Limited (ASX:ALB) agreed to acquire Yandal West Gold Project from Great Western Exploration Limited (ASX:GTE) for AUD 1 million on November 28, 2024. The consideration consists of 30 million Performance Rights rights of Albion Resources Limited to be issued for assets of Yandal West Gold Project. The consideration consists of 22.22 million common equity of Albion Resources Limited to be issued for assets of Yandal West Gold Project. The Yandal West Gold Project encompasses three contiguous tenements, 80% ownership of E53/1612, 80% ownership of E53/1816, and 100% ownership of E53/1369.
The transaction is subject to approval of offer by acquirer shareholders. The expected completion of the transaction is in the middle of January 2025. Annuncio • Sep 16
Albion Resources Limited, Annual General Meeting, Nov 14, 2024 Albion Resources Limited, Annual General Meeting, Nov 14, 2024. Reported Earnings • Mar 18
First half 2024 earnings released: AU$0.004 loss per share (vs AU$0.009 loss in 1H 2023) First half 2024 results: AU$0.004 loss per share (improved from AU$0.009 loss in 1H 2023). Net loss: AU$244.5k (loss narrowed 45% from 1H 2023). Annuncio • Sep 20
Albion Resources Limited, Annual General Meeting, Nov 16, 2023 Albion Resources Limited, Annual General Meeting, Nov 16, 2023. Agenda: To consider re-election and appointment of directors. Annuncio • Oct 07
Albion Resources Limited Announces Board Changes Albion Resources Limited announced the appointment of Mr. Steven Formica in the role of Non-Executive Chairman and Mr. Julian Jarman as a Non-Executive Director, effective. Mr. Formica brings to the Company practical management and business development experience. He has been a successful businessman and operations manager for over 35 years in several privately held business ventures across multiple industry sectors. Mr. Formica is currently a Non-Executive Director of ASX listed EchoIQ Limited, Non-Executive Chairman of Ragnar Metals Ltd. and a successful investor in a number of ASX listed entities. Mr. Formica has previously held directorships with ASX listed companies Jade Gas Holdings Limited (previously High Grade Metals Limited, Bowen Coking Coal Limited, Orminex Ltd. and Lindian Resources Limited. Mr. Jarman is a finance professional with over 20 years' experience in the industry, he has significant corporate and capital raising experience especially with start-ups and small to mid-cap size companies. He is currently a director of advisory firm Alignment Capital Pty Ltd, which he co-founded in 2014. Alignment Capital is the current corporate advisor of Albion, having been appointed in October 2021 for a period of 2 years. Julian has previouslybeen a director of Mozambi Coal Ltd. which became Volt Resources Limited. The Company also advises that Mr. Colin Locke and Mr. Mark Major will resign as Executive Chairman and Non- Executive Director respectively, effective. The Board wish to thank Mr. Locke and Mr. Major for their valuable input to the Company. Annuncio • Sep 22
Albion Resources Limited, Annual General Meeting, Nov 18, 2022 Albion Resources Limited, Annual General Meeting, Nov 18, 2022. Agenda: To consider directorate reelections. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Mark Major was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Apr 14
Albion Resources Limited Announces Assay Results from the Maiden Drilling Program at its 100% Owned Leinster Project and Provides an Update on its Other Projects Albion Resources Limited announced assay results from the maiden drilling program at its 100% owned Leinster Project as well as provide an update on its other projects. Leinster Project: The Leinster Project is located 30km southeast of Leinster, Western Australia and straddles the Weebo- Mt.Clifford greenstone belt, a north-northwest trending folded and thrust stacked sequence of basalts, ultramafics, felsic volcanics and pelitic sediments, intruded by several granitoid plutons. The drilling program involved 10 reverse circulation (RC) holes for a total of 1,500m targeting nickel sulphide mineralization along strike to Auroch's the Horn and related Ni-Cu prospects. The program focused on testing magnetic features where anomalous nickel was generated in shallow drilling by previous explorers. The assay results received support the Company's geological interpretation that the magnetic bodies represented an ultramafic unit with several broad intersections of nickel. The ultramafic unit encountered in drilling was strongly sheared and silified, dominated by chlorite-talc (mylonitic) units when sheared and serpentinised to amphibolitic (occasionally talcose variants) units when foliated. The Company will now move its attention at the Leinster Project to the western ultramafic unit along strike to BHP's Nickel West Weebo Ni deposit and commence a comprehensive review of data over this area. Lennard Shelf Project: Albion is currently preparing for its next phase of work at the Lennard Shelf Project in the Kimberley region of Western Australia. The Company intends to conduct mapping and sampling along a section of the prospective Uncle Billy Fault following promising assay results from the maiden drilling program in 2021 at Pillara East. Assay results were announced on 31 January 2022 and included: 23.50m @ 2.04% Zn + Pb from 34.5m inc 5.6m @ 3.37% Zn + Pb - EPDD2106. 10.10m @ 2.55% Zn + Pb from 29m inc 3.1m @ 5.11% Zn + Pb - EPDD2102. 5.60m @ 2.94% Zn + Pb from 36.4m inc 3.1m @ 3.65% Zn + Pb- EPDD2104. 4.00m @ 5.69% Zn + Pb from 36m to EOH - EPDD2115. 2.00m @ 5.94% Zn + Pb from 31m - EPDD2115. 1.72m @ 13.51% Zn + Pb from 55.28m - EPDD2102. 1.38m @ 6.91% Zn + Pb from 65.12m -EPDD2102. An additional exploration focus on the Lennard Shelf Project in 2022 will involve Prices Hill, E04/2504. Prices Hill is situated at the NW end of the Emanuel Range and is an area of outcropping Devonian Pillara Formation with strong geochemical responses in stream sediment sampling. The ranges are dissected by a set of N- to NNE-trending faults within the Prices Hill Relay Zone, which transfers movement between the WNW- to NW- trending Cadjebut-Pinnacle Fault zone and the Virgin Hills Fault zone to the north. Previous exploration in the Prices Hill area by BHP and Western Metals Limited centred on Cadjebut style mineralization, geophysical targets, and breccia/gossan targets. The N- to NNE-trending faults in the Prices Hill transfer zone are extensions of faults that offset the Pinnacles Splay Fault in the vicinity of the Goongewa Mine. These faults have been poorly tested by drilling in the Prices Hill area. Initial exploration at Prices Hill will involve mapping and geochemical sampling along prospective faults where Pillara Formation limestone is predicted in the hanging wall of the faults. The Pillara limestone is the preferred host for the major Zn-Pb deposits in the Cadjebut to Pillara trend. Where Ordovician Emanuel shales are found in the footwall, they form an ideal seal to mineralizing fluids. Project Generation: The Company has applied for the Mongers Lake Project, comprising tenement applications E59/2576 and E59/2641. The project covers the northern extents of the Retaliation Greenstone Belt located between the Mt Gibson and Rothsay Gold Projects, in the highly prospective Yalgoo region of Western Australia. Whilst the Company is not aware of any reason why the exploration licences will not be granted in due course, investors are cautioned that there is a risk the exploration licences will not be granted. The Company has commenced compilation of the historical exploration data and planning for a site visit, to occur upon grant. Annuncio • Feb 01
Albion Resources Limited Announces to Report Promising Assays Results from the Maiden Drilling Program At Pillara East Albion Resources Limited announced to report promising assays results from the maiden drilling program at Pillara East, part of the Company's 100% owned Lennard Shelf Zinc-Lead Project (the "Project") in Fitzroy Crossing, southern Kimberley, Western Australia. The program involved drilling 15 NQ holes for a total of 1,700m and sought to confirm and extend mineralisation identified in the historical EPP11 intercept, which produced 4.6m @ 5% Zn and 30.5% Pb from a vertical depth of 47m. Pleasingly, Albion intersected Zinc and Lead, in 14 out of 15 holes, extending the mineralisation beyond the original EPP11 intercept. Two styles of mineralisation were intercepted. The first is a tectonically controlled breccia developed in fault zones within platform facies carbonates. The mineralised breccia show limestone clasts rimmed by sphalerite, galena, marcasite, and occasional sparry calcite. The style of mineralisation is reminiscent of the Pillara deposit. The second style is high-angle vein and crackle breccia zones within platform and fore-reef facies carbonates. This mineralisation is generally higher in lead with only minor marcasite and calcite. This style of mineralisation is similar to that seen at several places along the Lennard Shelf including the Gap Creek Prospect. The program involved drilling 15 NQ holes for a total of 1,700m targeting fault-controlled mineralisation along the ENE trending Uncle Billy Fault (EPDD2101 EPDD2109) and extensions of the NNE trending Devious Fault (EPDD2110, EPDD2112 - EPDD2113) as well as to locate and extend mineralisation identified in the historical EPP11 intercept (EPDD2111, EPDD2114 - EPDD2115). The Company reported near surface zinc-lead mineralisation was intersected in numerous drill holes along and adjacent to the Uncle Billy Fault. Eleven holes were enveloped within the Western POW area, with five holes directly targeting the Uncle Billy Fault and encountering highly encouraging shallow mineralisation. EPPDD2101 and EPP2102 both intersected tectonically controlled breccia developed in fault zones within platform facies carbonates, reminiscent of the Pillara deposit. Significant assays for these holes included 10.10m @ 2.55% Pb + Zn from 29m and 1.72m @ 13.51% Pb + Zn from 55m, proving the Uncle Billy Fault to be highly prospective. Three holes were designed to test extensions of the Devious Fault. Rock chips over the outcropping Devious Gossan along the Devious Fault previously confirmed high grade mineralisation exists. Limited significant intercepts were encountered in these holes, with one possible hypothesis that mineralised fluids preferring to transport along the Uncle Billy Fault. Four holes were enveloped within the Eastern POW area, all targeting the prospective Uncle Billy Fault. The Company was able to confirm that mineralisation within and adjacent to the Uncle Billy Fault extends well beyond the Western POW, where the historical drillhole EPP11 is located. The Company believes the assay results confirm a mineralised system is present and highlight the potential for discovering new areas of lead-zinc mineralisation associated with the Uncle Billy Fault which remains largely untested. Importantly, the mineralisation intersected by Albion is shallow, with most encountered at depths around 30m 60m below surface. The Company has commenced integrating the drilling results with all historical data sets and planning for an active 2022 exploration program across its 100% owned Lennard Shelf Project. Annuncio • Nov 30
Albion Resources Limited Announces Drilling Commencement At Leinster Nickel-Copper Project Albion Resources Limited announced that Reverse Circulation (RC) drilling has commenced on the Company's Ni-Cu prospects at its 100% owned Leinster Project, located 30km southeast of Leinster. The Project covers the same conductive, nickel sulphide bearing unit as Auroch's the Horn and related Ni-Cu prospects, and lies adjacent to BHP's Nickel West Weebo Ni deposit. The program is anticipated to comprise ten holes for approximately 1,500m with K&J Drilling appointed as the drill contractor. The holes target anomalous magnetic features, interpreted as being associated with high- magnesium nickeliferous ultramafic rocks, and test beneath several drill intersected nickel and copper hits generated by previous explorers. Drilling will test the nickeliferous horizon over a strike length of approximately 2.5km. Annuncio • Nov 27
Albion Resources Limited Announces Shallow Zinc-Lead Mineralisation Intersected At Pillara East Albion Resources Limited advised that all diamond drill holes completed to date have intersected faulted-controlled zinc-lead mineralisation at Pillara East, part of the company's 100% owned Lennard Shelf Zinc-Lead Project (the "Project") in Fitzroy Crossing, southern Kimberley, Western Australia. The company believes the visual observations, including marcasite and mineralised breccias featuring sphalerite and galena, highlight the potential for discovering new areas of economic lead-zinc mineralisation adjacent to the Uncle Billy Fault or in the nearby Western Embayment. Drilling across the prospective geology is continuing. The company's maiden diamond drilling program seeks to confirm and extend mineralisation identified in the historical EPP11 intercept, which produced 4.6m @ 5% Zn and 30.5% Pb from a vertical depth of approximately 47m. Albion has intersected Pb and Zn, with associated marcasite, in all eight developed holes, confirming and extending the mineralisation beyond the original EPP11 intercept. A tectonically-controlled breccia developed in fault zones within platform facies carbonates hosts the mineralisation.The mineralised breccia show limestone clasts rimmed by sphalerite, galena, marcasite and occasional sparry calcite. The style of mineralisation is reminiscent of the Pillara deposit. Annuncio • Aug 13
Albion Resources Limited Announces Leinster Project Produces Drill Ready Ni-Cu Targets Albion Resources Limited announced that it has completed an ultrafine soil geochemistry program over the prospective ultramafic rocks at the recently granted Leinster Project, located 30km southeast of Leinster. The Project covers the same conductive, nickel sulphide bearing unit as Auroch's the Horn and related Ni-Cu prospects, and lies adjacent to BHP's Nickel West Weebo Ni deposit. Approximately 500 ultrafine soil samples were collected across the prospective geology within the Project area. Ultrafine soils deliver multielement analysis derived from the ultrafine (< 53 µm) fraction of soil samples. The method is designed for soils developed in residual and transported materials, and provides for stronger signals (generally well above instrumental detection limits), excellent reproducibility and increased signal-to-background ratios than more conventional analytical methods. The soil sampling seeks to define extensions to previously drill-indicated nickel mineralisation in ultramafic rocks located beneath a sand veneer. Background: A deeply weathered regolith is preserved across much of the Project. Ferruginous relict terrain, including ferricrete and ferruginous saprolite, exists in the Project's west and north. Elsewhere, a sand veneer developed on hardpan mantles a variably truncated profile in the Project's east. In the south, dune deposits have formed on relict regolith above breakaways. Collectively, 85% of the tenure is mantled by media potentially unsuitable for conventional geochemical exploration. Most observed nickel enrichments (from the previous drilling on the east and west flank) occur in the upper regolith, reflecting the residual accumulation of Ni derived most plausibly from the weathering of disseminated nickel sulphide or Ni-silicate bearing rocks. Previous drilling on the east flank near the Perseverance Fault is mostly shallow (<50m vertical), with the mineralised intercepts such as LYER0376 (4m @ 5,060 ppm Ni) untested at depth by RC or diamond drilling. These intercepts present drill-ready targets. A POW application covering RC drill testing of this unit was submitted recently, with approval now received. Soil Program: The soil samples were collected on both reconnaissance and detailed grids across exploration areas along the eastern and western flanks of the Project, where ultramafic rocks were confirmed. The detailed soil grid (100m line spacing x 50m centres over 14 lines) covers the proposed drilling POW area. Analysis of the detailed grid soils have been expedited to assist with final collar positions. Reconnaissance grids were sampled on 400m line spacing and 100m centres. In the west, four reconnaissance lines were sampled to validate the legacy soil results. In the east, eleven reconnaissance lines were sampled to map extensions to previously drill-indicated nickel mineralisation into the adjacent covered environments. All samples have been submitted to ALS. Drilling Program: A maiden RC drill program, developing up to 12 holes (for a maximum of 1800m) and utilising the existing access, is envisaged to test previously drill-indicated nickel mineralisation in the underlying ultramafic rocks. Annuncio • Jun 18
Albion Resources Site Visit Reveals Visible Zn-Pb Mineralisation Albion Resources announced the outcomes from a successful site visit to its Lennard Shelf Zinc-Lead Project at Fitzroy Crossing in the southern Kimberley, Western Australia. The site visit covered the granted tenure, field review of known gossans, included a productive collar search for historical drilling, confirmed land and drill access, and met with the Gooniyandi Aboriginal Corporation (GAC), the representative body for the traditional owners and custodians of the prospective lands. Discussions with the GAC involved heritage needs, geology and the exploration process, project access and heritage surveys, community programs, and other support. During the visit, Albion's technical team surveyed the primary targets and achieved several outcomes, including: Visible galena (lead) and sphalerite (zinc) mineralisation observed at the Devious, Extreme and Chance gossans on Pillara East, with visible malachite (copper) observed on the Extreme gossan. Visible galena (lead) and hydrozincite (zinc) mineralisation identified 350m north of EPP11, near the Devious gossan. Discovery of an iron-rich gossanous horizon at Prices Hill with over 500m of exposed oxide mineralisation. Understanding key access roads into prospect areas for drilling. Location of critical historical drill collars, providing accurate positioning and context for drilling. Next steps: Albion has received drilling approval by DMIR's. The Company is progressing negotiations on a heritage agreement with the GAC, and scheduling an anthropological survey, which are prerequisites for Albion's maiden drilling program. 
