Wedoany.com Report-Dec.13, Moonlight Resources has commenced drilling operations at its Clermont gold project in Queensland, Australia, marking the start of active exploration shortly after the company's listing on the Australian Securities Exchange.

The initial campaign consists of up to 2,000m of RC drilling at Leo Grande.

The initial drilling effort targets the high-priority Leo Grande prospect, with the objective of advancing toward an inaugural mineral resource estimate.

Moonlight recently completed its initial public offering, securing A$10 million in funds through substantial participation from institutional and qualified investors, including stakeholders associated with Lithium Plus Minerals and Diatreme Resources.

The company's holdings encompass over 5,400 square kilometers of tenements prospective for gold and critical minerals, spanning key regions in the Northern Territory, New South Wales, Queensland, and Western Australia.

Within the Clermont project, multiple developed structural gold targets align along a 4-kilometer mineralized zone.

Capital raised from the offering will primarily accelerate exploration activities at Clermont.

The opening phase involves up to 2,000 meters of reverse circulation drilling at Leo Grande, with assay results anticipated during the first quarter of 2026.

This work seeks to confirm and broaden the current geological interpretation, building on 70 prior reverse circulation holes totaling more than 4,620 meters conducted by earlier operators.

The program focuses on enlarging the identified mineralized area, verifying previous findings, and supporting development of a compliant mineral resource estimate under Joint Ore Reserves Committee standards.

Moonlight managing director Greg Starr said: "I am delighted to begin Moonlight's journey as a listed company, and I welcome all shareholders to our register. The strong level of support for the IPO reflects confidence in the quality of our portfolio and the significant exploration potential across what is an impressive gold and critical mineral asset base.

"We are also pleased to report that on-field exploration has commenced immediately, with Moonlight's first drilling programme already under way at our flagship Clermont project in Queensland. Clermont offers multiple walk-up drill targets, with historical intersections demonstrating consistent gold mineralisation across a well-defined structural corridor."

Subsequent drilling will address the Goldfinger and Petersons prospect zones.

Starr added: "We have chosen to commence at several areas along the Leo Grande trend, where historical RC drilling has been limited to depths of less than 140m and the mineralised system, which currently extends for more than 4km of strike, remains open in all directions.

"We look forward to updating shareholders as exploration activities progress into the new year and are committed to building meaningful value through disciplined, technically driven exploration."