Peak Hill Delivers Strong Gold Assay Results
Summary by AI BETAClose X
27 July 2026
Forgent plc
("Forgent" or the "Company")
Peak Hill Delivers Strong Gold Results, Identifies Significant New Exploration Corridor and Accelerates Phase 2 Exploration
Forgent plc (AIM: FORG), the energy transition company, is pleased to announce encouraging gold assay results from its maiden drilling programme at the Peak Hill Gold-Copper Project ("Peak Hill") in Western Australia, which has validated the Company's exploration model, confirmed multiple shallow gold systems and identified a significant new exploration corridor that has the potential to materially increase the scale of the project. Phase 2 drilling will commence in August 2026 to test this new target.
Highlights
· Confirmed gold across multiple priority targets, with selected significant intercepts including:
o PKA040 - 2m @ 3.68g/t Au from 50m
o PKA010 - 1m @ 3.11g/t Au from 44m
o PKA030 - 1m @ 2.51g/t Au from 26m
o PKA041 - 3m @ 0.60g/t Au from 24m
o PKA036 - 3m @ 0.54g/t Au from 96m
o PKA024 - 1m @ 0.52g/t Au from 29m
o PKA019 - 3m @ 0.51g/t Au from 54m
· Validated the Company's geological model
· Materially de-risked the Peak Hill project
· Identified a significant new undrilled exploration corridor which exhibits favourable structure, magnetic complexity and lithological controls
· Accelerated phase 2 drilling programme scheduled to commence August 2026
James Parsons, Chief Executive Officer, commented:
"The exploration programme at Peak Hill has exceeded our expectations. Taken together, these very encouraging gold assay results and this newly emerging target area materially de-risk the Peak Hill project and provide a compelling basis to immediately progress into Phase 2 drilling. We've demonstrated that our strategy of applying modern geological thinking to an overlooked project is working. Even more exciting is that between Junction and Curley's we've identified a large undrilled corridor displaying all the geological characteristics we associate with a fertile gold system, yet it has seen no historical drilling.
Peak Hill is becoming larger, better understood and more exciting with every programme we complete. This programme has not only confirmed where the gold is - it has shown us where to look next."
Phase 1 Drilling Programme
Peak Hill was acquired as an advanced exploration project with an extensive historical exploration database that had not previously been comprehensively reprocessed or retargeted using modern geological modelling and targeting techniques (Figure 1).
Following a detailed review of the historical data, Forgent identified seven priority exploration target areas across the Karalundi, Junction and Curley's prospects. At Junction alone, four priority targets were identified where widely spaced historical drilling had outlined broad zones of near-surface orogenic gold mineralisation over strike lengths of up to approximately 800 metres.
The Phase 1 drilling programme was designed to:
· Validate historical drilling results.
· Extend known mineralisation.
· Test interpreted structural targets.
· Evaluate additional mineralised zones generated through the Company's geological reinterpretation.
· The programme comprised 40 aircore holes for 2,680 metres and was completed during July 2026.
Gold Results
Gold assays have now been received for all 1,587 submitted samples.
The programme confirmed gold mineralisation across multiple target areas, successfully validating historical exploration results and strengthening confidence in the continuity of the shallow gold mineralisation along several interpreted structural corridors (Figure 2).
Together with numerous additional anomalous gold intersections, these results materially reduce geological risk and support the potential for multiple shallow gold systems across the Peak Hill project.
Peak Hill is located in an established Western Australian gold district with multiple operating processing plants within trucking distance, providing an attractive development setting should exploration continue to prove successful.
New Discovery Opportunity Identified Between Junction and Curley's
In addition to confirming the Company's existing priority targets, interpretation of the Phase 1 drilling programme has highlighted a significant exploration target between the Junction and Curley's prospects (Figure 3).
This area displays favourable structural complexity, magnetic anomalies and lies adjacent to an interpreted lithological boundary-features commonly associated with gold mineralisation in the district. Importantly, this corridor has the potential to connect two already mineralised areas and substantially increase the overall exploration footprint of the project.
Despite its prospective geological setting, the corridor has seen little historical drilling and represents one of the highest priority exploration targets within the project. It will form a key component of the Company's Phase 2 drilling programme.
Phase 2 Programme
Planning for the Phase 2 drilling programme is already underway and will be further refined with the multi element assays results when known, with drilling expected to commence during August 2026.
The Phase 2 programme is expected to focus on:
· Extending gold mineralisation along strike and down dip at Junction and Curley's.
· Further infill drilling across the strongest mineralised zones.
· First-pass drilling of the newly identified Junction-Curley's target corridor.
· Advancing the project towards an initial Mineral Resource Estimate.
Alongside continued work at Peak Hill, the Company also retains exposure to additional exploration catalysts across its broader Western Australian portfolio, at the Green Rocks Copper-Gold project and the Mount Sholl Nickel-Copper-PGE project option.
Further updates will be provided to shareholders in due course.
Figure 1. Peak Hill Project Location Map Showing Proximity to Processing Plants
Figure 2. Peak Hill Phase 1 Drilling Results and Significant Gold Intercepts
Figure 3. Regional Magnetic and Structure Map Illustrating the Undrilled Target Corridor
For further information on Forgent plc, visit the Company's website www.forgentplc.com or contact:
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: 0203 757 4980
Email: forgent@camarco.co.uk
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.
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