• 5,000m drill program commenced at the Crawford Gold Project
• Targets extensional zones beyond the Stage 1 starter pit
• Aims to grow the Mineral Resource and support planning for future mine stages

Cavalier Resources Ltd has announced the commencement of a 5,000m drill program at its Crawford Gold Project. The program aims to target extensional zones beyond the Stage 1 starter pit, with the goal of growing the Mineral Resource and supporting planning for future mine stages. The Stage 1 starter pit is expected to deliver strong early performance, with first gold poured within three months of production and generating gross revenue of A$103.6 million at a gold price of AUD$4,600/oz. Mining of the starter pit is completed within fourteen months of production commencing, making it critical to get a head start on extensional drilling to expand the resource base and support planning for potential future stages or cutbacks.The program will focus on near-mine resource development along strike and at depth, while also aiming to extend the northern oxide corridor up to the Miranda hard rock target. A revised Pre-Feasibility Study completed in April 2025 generated key outputs including a total Stage 1 project life of 18 months, a capital payback period of 9 months, and an NPV8 of A$51.7M with an IRR of 580%.

The Stage 1 starter pit is expected to produce 23,467 recovered ounces of gold.

The extensional drilling program aims to grow the Mineral Resource and support planning for potential future mine stages or cutbacks at the Crawford Gold Project.