2.14 g/t Gold in Forgent’s First Discovery at Peak Hill Project
Key Facts
Forgent announced on November 12 its first gold discovery from drilling at the Cathedral target within the Peak Hill project in Western Australia. The company said hole PKAC119 recorded a top grade of 2.14 g/t over 1 metre from a depth of 55 metres. The announcement is an initial result from an exploration program targeting the area with drilling, not a declaration of a mineral resource or a commercial discovery. Chief Executive James Parsons said, "Strong grades after just 25 holes, alongside recent success at Curley’s, reinforce Peak Hill’s potential." The company said drilling results would be assessed alongside available geological data before a decision on further work. It also said it would not exercise its option to acquire an interest in the Mount Sholl project at this time, directing near-term exploration activity and capital to Peak Hill and Green Rock.
PKAC119 returned two additional, separate results: 1.48 g/t from a depth of 47 metres over 1 metre, and 0.94 g/t from a depth of 23 metres over 1 metre. Forgent said the 3 intervals are separate and do not represent a continuous gold-bearing zone, and that their lengths are measured along the drill path, with true widths not determined. Gold was also observed in adjacent holes PKAC118 and PKAC120, adding points for geological assessment around the strongest result. Results elsewhere were generally low grade or below detection limits. The company said further work is needed to determine the extent and continuity of mineralisation.
The results followed the drilling of 25 exploration holes totalling 1,346 metres, or about 22% of the original 112-hole program. The plan targeted drilling across 6 broad north-south traverses, spaced about 80 metres apart, to test a target the company described as high priority and not previously tested by systematic drilling. Target selection included magnetic features and surface geochemical gold samples that returned grades of up to 26 g/t, as well as locations where gold nuggets had been found. Peak Hill is in the Murchison region, about 80 kilometres north of Meekatharra, and Forgent holds a 99% interest in the project. The company said the area has 3 operating gold processing plants within a 100-kilometre radius, with direct access to the Great Northern Highway.
The company places the Cathedral discovery within a series of results at the Peak Hill project. In July 2026, it announced completion of the Phase 1 program, in which hole PKA040 recorded a 2-metre interval grading 3.68 g/t from a depth of 50 metres. Forgent said the phase results supported key elements of its geological model and confirmed multiple shallow gold systems in the areas tested. In the latest announcement, Parsons linked the Cathedral results to recent success at Curley’s, saying both reinforce the project’s potential. However, the company stressed that the current results do not establish a mineral resource or a commercial discovery. Defining the extent and continuity of mineralisation remains subject to further work and subsequent geological assessment.
Forgent expects to consider targeted follow-up drilling at Cathedral after the current Curley’s program ends. The company said the scope and timing of drilling would be determined after assessing the Curley’s results and combining them with available geological information, including historical records the company found for the area. This means a decision on the next phase will not be made until that assessment is complete. In parallel, the company chose not to exercise its Mount Sholl option at this time, citing recent positive exploration results at Curley’s and Cathedral and market conditions. Forgent said it remains interested in the project and will continue discussions with the vendor in pursuit of a possible acquisition at a later date.