Manuka Resources (ASX:MKR) has begun a major new gold exploration drilling program at its Mt Boppy Gold Mine and the nearby Pipeline Ridge prospects in New South Wales, stepping up efforts to uncover deep extensions and potential new discoveries in the highly prospective Cobar Basin.
The 10–12 week program marks the first time Mt Boppy has been drilled to depths of about 500m, well below the historical limit of around 250m, despite neighbouring operations producing to depths of up to 2km.
Mt Boppy previously produced about 500,000 ounces of gold at an average grade of around 15 g/t, and Manuka believes similar high-grade structures may exist along strike and at depth beneath the existing deposit.
Initial drilling will test deep extensions and structural targets south of Mt Boppy, while a separate reverse-circulation program at Pipeline Ridge, around 28km to the south, will target shallow gold mineralisation with the aim of defining a maiden resource in 2026.
First assay results from the Mt Boppy program are expected in the first quarter of 2026.
While exploration is ramping up, the company said its primary focus remains on restarting production at the Wonawinta Silver Mine, which is on track for first silver output in the second quarter of 2026, with exploration success seen as a potential pathway to extending Manuka's longer-term Cobar Basin production profile.
At the time of reporting, Manuka Resources' share price was $0.065.