Building Nova Scotia Exploration Target Pipeline

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Stock ST Barbara Ltd (SBM.ASX)
Release Time 11 Feb 2026, 8:21 a.m.
Price Sensitive Yes
 Building Nova Scotia Exploration Target Pipeline
Key Points
  • Assembled 44 exploration targets within 75km radius of proposed 15-Mile Processing Hub Project
  • Acquired 164km of prospective anticlines, including 75km where Moose River Formation is at surface or under shallow till cover
  • Discreet acquisition of tenements during period of negative sentiment kept costs to under C$0.5 million
Full Summary

St Barbara has quietly built its Nova Scotia exploration target pipeline across an increasingly significant tenement position (47,841 hectares), along prospective anticlines within a 75 kilometre radius of the proposed 15-Mile Processing Hub Project. This includes 44 exploration targets assembled with the objective of further extending the mine life beyond the 11 years currently outlined for the 15-Mile Processing Hub Project. The land package covers 164 kilometres of prospective anticlines, including 75 kilometres where the highly favourable Moose River Formation is at surface or under shallow till cover. The Company has also assembled a regional tenement position outside the 75 kilometre radius, totalling 21,921 hectares, covering 12 identified exploration targets. Discreet acquisition of tenement positions during a period of negative sentiment for resource development have kept acquisitions costs to no more than C$0.5 million. Work programs planned for the May 2026 to September 2026 field season include RC drilling, regional surface sampling programs (till and rock chip) and an incorporation of newly acquired geophysics data packages into a comprehensive structural review of near-ready drill targets associated with extensions to known deposits.

Outlook

While exploration sentiment was low in Nova Scotia, St Barbara has taken the opportunity to acquire and peg attractive targets within 75 kilometres around the 15-Mile Processing Hub Project, providing the Company with an unparalleled tenement package to target extensions to the already impressive 11 year mine life.