Saturn Gold Project Update: New Gold Targets
Summary by AI BETAClose X
TOMAHAWK METALS PLC
("Tomahawk" or "the Company")
12 August 2026
Management's Saturn Gold Visit Identifies New Gold Targets
Western Australia
Tomahawk Metals Plc (AQSE: TMHK), London quoted on the Aquis Stock Exchange Growth Market, is pleased to inform the market of initial findings from senior management's site visit to the Company's new Saturn Gold Project in Western Australia last week.
The Saturn Gold Project has previous documented gold grades up to 12 grams per tonne, as announced on 1 July 2026.
New satellite interpretation has now identified three distinct and highly encouraging prospect areas for gold, with extensive evidence of historic ground disturbance on the tenement including trenching and costeaning, and a number of historic shallow shafts.
Keith Coughlan, the Company's Perth based director and its consulting geologist from Dingo Prospecting, conducted an extensive on-ground sampling programme to determine the surface extent of the gold mineralisation and its potential grade. A significant number of rock chip samples were collected and have now been sent to Intertek Minerals, the independent laboratory in Perth, for detailed analysis.
Prior to the site visit, the Company and its consultant geology team reviewed the historical reports covering the project area and prepared several maps. A number of surface gold targets have been identified from anomalous gold in soil samples, mostly around the old St Clair workings (image attached below). The team examined all historic workings that had been indicated and discovered evidence of further and more extensive activity than had been previously shown in historic records. This included evidence of drilling that had not been previously recorded.
The Saturn Project is comprised of one exploration licence: E77/2914, covering an area of 4 blocks. The tenement is held by Tomahawk Metals.
Regional Geology
The Koolyanobbing Greenstone Belt lies within the Southern Cross Province of the Archaean Yilgarn Craton. The northwest trending belt extends over a strike length of approximately 35 km and has a maximum width of 8 km. The greenstone belt is bordered by basement granitoids and gneiss, frequently incorporating xenoliths of highly deformed and metamorphosed greenstone lithotypes. The southwestern greenstone contact is defined by a major structure termed the Koolyanobbing Fault, which can be traced intermittently northwest into the Diemals area and southeast to Lake Johnson, a distance of over 650 km.
The Koolyanobbing Greenstone Belt is dominated by tholeiitic basalt, dolerite, and komatiitic volcanics, along with prominent banded iron formations and metasediments. The stratigraphy is disrupted by a series of north-northwest trending, low-angle, sinistral oblique faults, which create localised stratigraphic thickening or duplication. The southern margin of the belt has been intruded by quartz-feldspar porphyry dykes, and the entire sequence has been subjected to a lower amphibolite facies grade regional metamorphism, with localised retrogressive greenschist facies units in some areas.
Saturn Gold Geology
The Saturn Gold tenement covers mafic and ultramafic units adjacent to the northern side of the Koolyanobbing Range. The Koolyanobbing Range is a major ridge consisting of Banded Iron Formation (BIF). The geology of the area has been described by the GSWA as part of the Jackson 1:250,000 sheet (SH50-12).
Initial Field Observations
• Recent field observations identified multiple historical workings developed along structurally controlled, iron-oxide-rich quartz veins. Trace sulphides were observed in selected rock-chip samples.
• Multiple subparallel, north-south-trending quartz veins were identified across the prospect. Historical workings follow several of these veins; however, based on the records reviewed, the vein systems remain largely untested by drilling.
• Historical workings not shown in the records reviewed were identified in the northwestern part of the project. These workings appear to target east-west-trending quartz veins.
• Quartz veining and associated semi-continuous historical workings were observed over approximately 450m of strike. The continuity, geometry and gold potential of this prospective vein trend have not been adequately tested using modern exploration methods. Although field evidence suggests that limited historical drilling may have occurred elsewhere within the project, no drilling along this specific trend was identified in the records reviewed.
• The site visit identified extensive historical trenching, costeaning and shallow workings across three discrete prospect areas.
Preliminary Geological Interpretation
Based on current field observations and the available historical information, the prospect is provisionally interpreted as a structurally controlled quartz-vein gold system with characteristics consistent with Archaean orogenic gold mineralisation. Its proximity to a granitoid-greenstone contact also warrants consideration of an intrusion-related or contact-metasomatic model. The genetic interpretation remains preliminary and will require further geological mapping, geochemical sampling and drilling to evaluate.
Historical Production
Historical records for the St Clair workings report small-scale production totalling approximately 266 tonnes at an average production grade of 12.03 g/t Au, yielding approximately 3.2 kg (103 oz) of gold. These figures relate to a limited historical production parcel and should not be considered representative of the grade or continuity of any remaining mineralisation.
Next Steps
Rock-chip samples collected during the site visit have been submitted for laboratory analysis. The assay results will be used to assess the gold potential of the observed vein systems and to guide follow-up geological mapping, geochemical sampling and the identification of potential drill targets.
Macgregor Vidler, Exploration Specialist at Dingo Prospecting and technical adviser to the Company, carried out a detailed technical review of the geological and exploration information contained in this announcement and advised the Company on its presentation, based on the available field observations and source data.
Warrant Disclosure
Further to the Company's fundraise in April 2026, the Company confirms the issue of warrants to Clear Capital Markets Limited over 14,333,333 new ordinary shares, exercisable at 1.5 pence per share, issued 20 April 2026 with a five-year term expiring 20 April 2031.
The Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
Company:
Rolf Gerritsen
+44 20383 87621
Clear Capital Markets Limited:
Broker
Bob Roberts
+44 (0) 20 3869 6080
AlbR Capital Limited:
Corporate Adviser:
+44 (0) 20 7469 0930
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