Moonlight Resources goes for gold at Queensland project after $10m IPO
Moonlight Resources has started drilling at its Clermont gold project following a $10m IPO.
Special Report: Moonlight Resources has hit the ground running on its first day as a listed company, debuting on the ASX with a $10m IPO and immediately firing up the drill rigs at the Clermont gold project in central Queensland.
- Moonlight starts drilling at its Clermont gold project in Queensland
- The explorer is working toward a maiden resource
- First assays are expected in Q1 2026
Moonlight kicked off drilling at Leo Grande, the highest priority prospect within Clermont’s 4km mineralised trend with an initial 2000m RC program.
The campaign is designed to confirm and extend existing mineralisation and infill key gaps as the company works toward a maiden resource.
It plans to draw on a dataset of 70 historical holes totalling more than 4620m with first assays expected in Q1 next year.
Strong demand for the IPO, including support from institutions and shareholders of Lithium Plus and Diatreme Resources, reflects confidence in Moonlight’s (ASX:ML8) exploration pipeline, which spans 5,400km2 of gold and critical-minerals tenure across four states (NT, NSW, QLD and WA).
Testing begins on multiple walk-up drill targets
ML8 managing director Greg Starr said the strong level of support for the IPO reflects confidence in the quality of its portfolio and the significant exploration potential across what he described as an impressive gold and critical mineral asset base.
“We’re pleased to report that on-field exploration has begun with Moonlight’s first drilling program already underway at Clermont,” he said.
“Clermont offers multiple walk-up drill targets, with historical intersections demonstrating consistent gold mineralisation across a well-defined structural corridor.
“We’ve chosen to begin 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.”
Moonlight’s project portfolio
Clermont covers 268km2 of ground and hosts multiple walk-up drill targets in a region with significant historical production totalling about 6.5Moz.
The area including Moonlight’s tenements alone has seen approximately 400,000oz of gold production since the 1880s
Of the targets, the standout is unquestionably the Leo Grande prospect, which has multiple gold-ready targets along ~4km of defined strike.
At a much earlier stage of exploration but no less exciting is the district-scale MacDonnell Ranges rare earths and uranium project about 120km west-northwest of Alice Springs in the Northern Territory.
Regional uranium potential is proven by surface radiometric anomalies and rock chips returning an average 439ppm U3O8 with a peak assay of 5364ppm U3O8 with multiple walk-up drill targets identified to date.
On the REE front, the project features alluvial sediments with monazite-dominant assemblages that have been assayed at up to 6454ppm total rare earth oxides.
This article was developed in collaboration with Moonlight Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Moonlight Resources goes for gold at Queensland project after $10m IPO
