Elk Range Mining Limited (ASX: ELK), an Australian-listed gold exploration and development company focused on advancing a portfolio of projects in Idaho, USA, has announced the successful completion of its maiden diamond drill hole, 26FRD001, at the Friday Gold Project. The Company’s assets include the Friday Gold Mine, the Orogrande Processing Plant and the Buffalo Gulch and Deadwood Projects, providing exposure to both established infrastructure and significant exploration upside. The initial hole was drilled to a final depth of 336.8 metres (1,105 feet), traversing the targeted Friday gold system and extending approximately 200 metres beyond the previous historical drilling in that area.
Elk Range reported the identification of additional visible gold occurrences at multiple depths, specifically around 124.1 metres (407ft), 138.7 metres (455ft), 159.9 metres (524.5ft), and 233.8 metres (767ft) downhole. Notably, the occurrences at 138.7 metres, 159.9 metres, and 233.8 metres lie beyond the 137.16 metre end of the historical hole, with the deepest occurrence extending as a veinlet for more than 1cm. The drilling also recovered high-quality oriented core, providing the Friday Gold Project with its first structural dataset directly linked to the observed visible gold mineralisation.
First assay results from the 26FRD001 drilling are expected to be available in late October to early November 2026. Elk Range has also confirmed that its second drill hole, 26FRD002, is already underway, with 24-hour drilling operations in effect. The company anticipates improved drilling rates for the second hole compared to the maiden hole, which encountered sheared ground requiring shorter runs. Elk Range Mining reminds investors that visual estimates of mineral abundance should not be considered a substitute for laboratory analyses, and assays are required to determine grade, continuity, or true width.
Chief Executive Officer Edward Keys noted the initial findings with enthusiasm, stating the visible gold at multiple depths, including well beyond historical drilling, provided an excellent start. He highlighted the importance of the new structural data in understanding the system and guiding future exploration at the Friday Gold Project.
