en.Wedoany.com Reported - Accelerate Resources (ASX:AX8) has commenced its first reverse circulation (RC) drilling program at the Spencers gold prospect, part of the Balagundi gold project located 15 kilometers east of Kalgoorlie in Western Australia. The program totals 1,200 meters across approximately 15 holes, designed to test a 300-meter-long mineralized trend identified through air core drilling.

Accelerate Resources identified Spencers as a new gold discovery on May 7, 2026. Previous air core drilling intersected 28 meters at 1.01 g/t gold from 36 meters depth, and 8 meters at 1.42 g/t gold from 28 meters depth, both as part of a broader intercept of 20 meters at 0.76 g/t gold from 16 meters depth. Recent 1-meter resampling results have revealed higher-grade zones within the discovery, including 9 meters at 1.75 g/t gold from 39 meters depth, and 7 meters at 1.85 g/t gold from 27 meters depth.

The mineralized system remains open along both dip and strike, providing clear targets for the subsequent RC drilling. Accelerate Resources CEO Luke Meter stated that commencing the first RC drilling at Spencers represents a significant step for both the company and the Balagundi gold project, serving as a strong example of the value created through the Balagundi consolidation strategy. The company has identified a new shallow gold discovery on recently acquired tenements and is rapidly testing its potential through RC drilling.

The Spencers discovery complements Accelerate Resources' growing pipeline of gold exploration targets at Balagundi. The project area has previously been expanded by approximately 80% to 62 square kilometers.

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