Forgent’s first gold discovery at Cathedral
Summary by AI BETAClose X
12 November 2026
Forgent plc
("Forgent" or the "Company")
Forgent’s first gold discovery at Cathedral, Update on Mount Sholl option
Strong gold grades of up to 2.14g/t identified after just 25 exploration holes
Forgent plc (AIM: FORG), the Australian-focused critical and precious minerals explorer, is delighted to announce its first gold discovery from drilling at the Cathedral prospect within its Peak Hill project in Western Australia. The Company has identified strong gold grades in PKAC119 after drilling only 25 exploration holes, (totalling 1,346m drilled and approximately 22% of the 112 holes originally planned).
Highlights
- PKAC119 returned separate one-metre gold intersections of 2.14g/t from 55m, 1.48g/t from 47m and 0.94g/t from 23m downhole.
- Gold was also recorded in neighbouring holes PKAC118 and PKAC120, providing additional targets for geological assessment around the strongest result.
- Targeted Cathedral follow-up drilling is anticipated after the current Curley’s programme.
James Parsons, Chief Executive Officer, commented:
“Our first gold discovery at Cathedral is a major exploration milestone. Strong grades after just 25 holes, alongside the recent success at Curley’s, reinforces Peak Hill’s potential.
The next step is to complete the current Curley’s programme, after which we will assess the results alongside the Cathedral data, including the historical records, to determine the scope and timing of targeted follow-up drilling at Cathedral.
While we have reluctantly decided not to exercise the Mount Sholl option at this time, we remain very keen to pursue the acquisition when the time is right."
Selected gold results from the initial programme are set out below:
|
Hole |
Downhole interval (m) |
Length (m) |
Gold (g/t) |
|
PKAC119 |
23–24 |
1 |
0.94 |
|
PKAC119 |
41–42 |
1 |
0.23 |
|
PKAC119 |
47–48 |
1 |
1.48 |
|
PKAC119 |
55–56 |
1 |
2.14 |
|
PKAC118 |
46–47 |
1 |
0.20 |
|
PKAC120 |
29–30 |
1 |
0.41 |
All intervals are downhole lengths; true widths have not been established. The intersections in PKAC119 are separate and do not represent a continuous gold-bearing interval.
Gold assays have now been received for all 25 holes in this initial programme. Results elsewhere were generally low grade or below detection, focusing attention on the PKAC119 area. Further work is required to establish the extent and continuity of the mineralisation; no Mineral Resource or commercial discovery has been established. The samples were analysed by Jinning Pty Ltd in Perth.
The Company has also recently identified historical drilling records for the Cathedral area for assessment alongside its own results. References to a first discovery in this announcement relate to Forgent’s own drilling, rather than an absence of previous exploration at Cathedral.
Targeted follow-up drilling at Cathedral is anticipated after the current Curley’s programme. The scope and timing will be determined following assessment of the Curley’s results and the combined geological information from both prospects, including the newly identified historical Cathedral records.
Mount Sholl Option
As a result of the recent positive exploration results at both Curley’s and Cathedral, and market conditions, the Company has elected not to exercise its previously announced revised option to acquire an interest in Mount Sholl, in order to prioritise near-term exploration activity and capital at Peak Hill and Green Rock. Forgent remains extremely interested in Mount Sholl and will continue discussions with the vendor with a view to pursuing the acquisition at a future date.
ENQUIRIES
FORGENT plc
James Parsons
c/o Camarco
Strand Hanson – Nomad & Financial Adviser
James Harris / Richard Johnson
Tel: +44 20 7409 3494
Global Investment Strategy UK Ltd – Broker
Christopher Kipling / Samantha Esqulant
Tel: +44 20 7048 9045
Camarco – Financial PR
Billy Clegg / Georgia Edmonds / Fergus Young
Tel: +44 20 3757 4980
Email: forgent@camarco.co.uk
Notes to Editors
Forgent plc is an Australian-focused critical and precious metals exploration company focused on acquiring and advancing gold, copper and nickel assets with existing mineralisation, extensive historical datasets and clear pathways to value creation, supported by an experienced management and technical team.
The Company is strategically positioned to benefit from structural demand for copper, gold and nickel, driven by electrification, data centre investment, electric vehicle adoption and gold’s continued role as a safe-haven asset and central bank reserve holding.
Forgent’s portfolio includes Peak Hill, an advanced gold-copper exploration project; an option over Mount Sholl, a nickel-copper-PGE project with a JORC-compliant resource and significant exploration target; and Green Rock, a copper-gold project with high-grade surface mineralisation.
Follow Forgent on:
LinkedIn: linkedin.com/company/forgentplc/
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and is disclosed in accordance with the Company’s obligations under Article 17 of that Regulation.
Competent Person's Statement
The information in this announcement that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to the Company. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this announcement.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago Frasers Group
- 1 hour ago Cavendish Financial
- 1 hour ago Diaceutics
- 1 hour ago AB Dynamics
- 14 hours ago Johnson Matthey