Neometals (ASX: NMT) has received promising early assay results from drilling at the Ironclad deposit, part of the Barrambie project in Western Australia.

Barrambie is best known as one of the world's larger titanium-vanadium deposits, and the Ironclad gold results add a potential second commodity string to the project while the company continues to evaluate the broader asset. The drilling also sits within the Youanmi region of Western Australia's Murchison district, an established gold-producing province that hosts several historic and operating gold mines.

Five reverse circulation (RC) drill holes were completed at the Ironclad gold prospect in July 2026, along with a further four holes at the Rinaldi copper prospect. The 662 metres drilled at Ironclad included testing for interpreted extensions of higher-grade mineralisation plunging north below the current mineral resource estimate (MRE).

Highlight results from the drilling included:

• 12m at 5.99 grams per tonne (g/t) gold from 116m, including 4.0m at 10.13 g/t from 118m
• 11m at 5.50 g/t from 94m, including 3.0m at 15.10 g/t from 94m
• 18m at 2.14 g/t from 89m, including 8.0m at 3.29 g/t from 89m
• 2.0m at 4.61 g/t from 103m

A diamond drill tail is planned at Ironclad to extend the deepest RC hole, 26ICRC005, which stopped short of its target zone due to water ingress. In addition to the diamond tail, a second diamond hole is planned at Ironclad to test the interpreted higher-grade mineralisation trend approximately 50m down plunge from the current drilling.

Managing Director Chris Reed said the three deepest drill holes completed at Ironclad to date sit among the highest gold grade and width intersections recorded for the deposit, supporting the interpretation of a preferred high-grade plunging corridor that may be increasing in gold grade at depth.

"We are very encouraged by these results. All four completed holes returned significant gold mineralisation over widths exceeding 10 metres and, importantly, the deepest drilling at Ironclad has delivered some of the best grade-width intersections we have seen to date," Mr Reed said.

"The results are strengthening our view that Ironclad hosts a higher-grade plunging corridor that may improve at depth. Our recent ground gravity survey has also identified a potential feeder structure off the Youanmi Zone, giving us a clear target for the next phase of drilling.

"The company now plans to extend hole 26ICRC005 and complete a step out of a further 50 metres down plunge towards that interpreted feeder. We are keen to see how far this system continues."

A diamond drill tail is also planned to test the Rinaldi T2 DDIP target. All planned diamond drilling is scheduled for September 2026, subject to operational conditions and receipt of relevant approvals. For readers tracking the story, the key upcoming catalysts are the September diamond program at Ironclad and Rinaldi, the processed drone magnetic imagery over Rinaldi, and the results of the Rinaldi soil geochemistry program.

A detailed drone magnetic survey was completed in late August 2026 over the Rinaldi prospect, with final processed images pending. In addition, a soil geochemistry program has commenced at Rinaldi, designed to verify and confirm potentially anomalous historic soil geochemistry over and adjacent to the T2 DDIP target.

On the Australian Securities Exchange, NMT shares were up 5.71% to 3.7 cents, giving the company a market capitalisation of $30.64 million.