Submission of Peak Hills Drilling Application

FORGENT PLC

26 May 2026

 

26 May 2026

Forgent plc  
("Forgent" or the "Company")

Forgent Submits Peak Hills Drilling Approval Application Ahead of Summer Gold-Copper Drilling Campaign

Forgent plc (AIM: FORG), the technology-led energy transition company, is pleased to provide an operational update regarding its Peak Hill project (Figure 1), a large-scale advanced gold and copper exploration project in Western Australia, approaching drilling. The Company believes Peak Hills offers the potential for near term drilling and a low-capex development pathway due to the presence of existing nearby processing infrastructure.

Highlights

·    Program of Work ("PoW") submitted for maiden Forgent drilling programme at Peak Hills, Western Australia

·    Drilling targeted to commence during Summer 2026, subject to regulatory approval

·    Three priority gold targets identified following substantial review and reinterpretation of extensive historic exploration datasets

·    Existing nearby processing infrastructure provides potential pathway toward accelerated development and monetisation opportunities

James Parsons, CEO of Forgent plc, commented:

"The Company is now moving to active drilling at Peak Hills with operational and financial resources increasingly focused on unlocking value from the drillbit this summer. We believe the combination of shallow mineralisation targets, strong historic results and nearby processing infrastructure creates a compelling platform for focused modern exploration and potential accelerated commercialisation."

Forgent has substantially completed the review and reinterpretation of the extensive historical geological and exploration database associated with Peak Hills, including historic drilling, sampling, geophysical and geological datasets. Additional target generation work remains ongoing, including further interpretation of gold and copper mineralisation potential across the wider project area. Following the review to date, the Company has designed and submitted a Program of Work (PoW) to the Department of Mines Petroleum and Exploration (DMPE) to target three high-priority target prospects (Figure 2) for Forgent's maiden drilling programme at Peak Hills this summer:

·      Karalundi Prospect

o  Historic drilling on 400m x 100m spacing, with significant gold intercepts

o  CHAC0780: 40 - 42m: 2m @ 5.09g/t Au

o  OSAC008: 52 - 60m: 8m @ 0.85g/t Au

o  Rock chip results of up to 24.5/t Au

·      Junction Prospect

o  Multiple gold assays within 5 metre drilling composite samples, in drilling on a 400 metre x 100 metre grid

o  EFAC3394; 50-60m: 10m @ 0.45g/t Au

o  EFAC3392: 35-45m: 10m @ 0.49g/t Au

o  EFAC3914: 35-50m: 15m @ 0.2g/t Au

o  EFAC3343: 80-95m: 15m @ 0.42g/t Au

o  EFAC3542: 35-60m: 25m @ 0.53g/t Au

o  Drilling to infill and refine targets.

·      Curley's Prospect

o  Significant previous gold assays with 350 metres of open strike to the west, with no drilling

o  Drilling intersected grades up to 1m at 47g/t Au from 70m within a Dolerite

Following  approval of the POW, expected in a number of weeks, the Company will  confirm the timing for the start of drilling activities, anticipated during summer 2026. A drilling contractor has already been selected to undertake the aircore drilling program to a maximum depth of 100 metres and the rig has been provisionally booked.

The current planned programme will focus on gold, with copper mineralisation targets still being interpreted.  In anticipation of drilling, a site trip by a company geologist will be completed in the next 2 weeks.

The primary objectives of the drilling campaign are to:

·      validate and confirm historical exploration results;

·      test extensions to known mineralised zones;

·      identify and define additional mineralised volumes; and

·    assess the potential for near-term development opportunities leveraging existing regional processing plants and infrastructure.

The Board believes the combination of existing regional infrastructure, historical exploration success and multiple untested targets provides a compelling opportunity to rapidly advance the Peak Hills assets.

Further technical updates will be provided following receipt of regulatory approvals and finalisation of drilling logistics.

About the Peak Hill project

The Peak Hill project is a large-scale advanced gold dominant exploration project with historic drilling and rock sampling having returned very high gold and copper grades.  Forgent owns a  51% interest in Peak Hill with the option to acquire  a further 48%.  It is an under-explored project where significant data exists but has not been fully reprocessed or targeted using modern exploration techniques. The land package is large, with many prospects rather than a single isolated target. The project covers approximately 163 km² across five granted tenements, located around 80 km north of Meekatharra with excellent infrastructure access. The project lies within the Proterozoic Glengarry Sub-Basin and is underlain by Karalundi metasediments and Narracoota Volcanics, a geological sequence considered prospective for gold and copper mineralisation.

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: [phone]
Global Investment Strategy UK Ltd - Broker Christopher Kipling / Samantha Esqulant	Tel: [phone]
Camarco - Financial PR Billy Clegg / Georgia Edmonds / Fergus Young	Tel: [phone] Email: [e-mail]

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 has been announced 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.

Figure 1: Project location map.

Figure 2: Project tenements and the three maiden drill prospect locations, with drill hole intercepts overlayed on regional reverse to pole magnetics. All data has been collated from Western Australian Mineral Exploration Reports (WAMEX), that are public information and accessible to the public. The three prospect locations are the first areas to be identified for  follow up work, with further targeting still underway.

 

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