E79 Gold (ASX: E79) Sharpens the Drill Bit in Laverton South – A Classic Case of “Money in the Ground”
- Noel Ong
- Jun 6
- 6 min read
Announcement
In our world of mineral exploration, conviction is currency, and E79 Gold Mines Limited (ASX: E79) is spending it wisely. The reason Samso is continuing to cover E79 is for this very reason, they do what the money is raised to do. One and only purpose.
As someone who's watched this sector for over three decades, I tend to gravitate toward stories where the science leads the drilling, not the other way around. The latest announcement from E79 Gold shows exactly that: a methodical, data-driven campaign that’s laying the foundation for a potential discovery in one of Western Australia’s most gold-endowed regions.
Drilling Strategy: From Theory to Drill Core
E79 Gold has launched a 5,000-metre air-core (AC) drill program at its Laverton South Gold Project, targeting three gold anomalies, with a tight infill campaign already underway at Pinjin in WA (Figure 1). The objective? To follow up on the 700 m-long gold anomaly that sits just west of Kalgoorlie Gold Mining’s Lighthorse discovery.
Figure 1: Map of aircore holes over magnetics. The red anomaly zone is the focus for the infill drill program (source: E79 Gold Mines Limited)
Ned Summerhayes, CEO of E79 Gold, commented:
“The AC rig has returned to follow up the 700m long gold anomaly, located immediately west of Kalgoorlie Gold Mining Limited’s (KalGold’s) emerging Lighthorse discovery,”
“The previous drilling results have led us to focus in on this favourable structural position. Following this infill work, the rig will move on to test two other regional targets identified in the recent geophysical and project review of the area.”
Why It Matters: Reading Between the Magnetics
This is not about chasing shallow anomalies—it’s about uncovering deeper structures that whisper of something bigger beneath the surface. E79’s geological team has interpreted zones of demagnetisation—visible in reprocessed aeromagnetic data—that coincide with the gold anomaly and suggest favourable structural conditions for mineralisation.
While the previous drilling returned modest results (e.g. 3m at 0.29g/t Au), it’s important to note that only a fraction of the bedrock has been properly tested. With over 40m of transported paleochannel material and only ~15% of lateral bedrock intercepted per drill line, the potential remains largely untapped (Figure 2).
Figure 2: Cross-section of drill line 6660162 mN (source: E79 Gold Mines Limited)
“All of these factors combine to support a compelling and coherent gold anomaly over a number of 200m-spaced drill lines that warrants in-fill air-core drilling,” the Company noted.
The Next Step: Two Regional Targets on Deck
Once the infill work is done, the rig won’t be idle. E79 will immediately pivot to two high-priority regional targets derived from magnetic and gravity data (Figure 3):
🔶 Target 1 – South of Kirgella Gift
Located in a zone of structural complexity
Overlaps a large-scale northwest fault
Just 3km south of KalGold’s resource
Nearby historic drilling has shown coincident gold anomalism
🔶 Target 2 – North Lake Yindana
Interpreted domal structure under cover
Geologically analogous to the Duke Deposit
Sits 3km southwest of the Duke, part of Ramelius Resources’ Rebecca Project
Figure 3: Map of priority drill targets over regional and reprocessed magnetics (source: E79 Gold Mines Limited)
Strategic Positioning in WA's Gold Heartland
With 272km² under tenure, the Laverton South Project places E79 in a compelling position—right in the middle of a prolific gold-producing corridor. This belt is no stranger to discoveries, and with KalGold and Ramelius nearby, E79’s path to a potential discovery could attract strategic attention.
E79 isn’t just active in WA, either (Figure 4). Their Mountain Home Cu-Au-Bi Project in the NT and McArthur Basin ground adds long-term diversification with polymetallic upside.
Figure 4: Map of the Laverton South Gold Project (source: E79 Gold Mines Limited)
E79 Gold (ASX: E79) is focused on gold exploration in WA’s Laverton and Murchison regions, with additional targets for copper, gold, bismuth, and diamonds in the NT’s highly prospective McArthur Basin (Figure 5).
Figure 5: Map of E79 Gold’s exploration projects (source: E79 Gold Mines Limited)
Samso Concluding Comments
When I look at stories like E79 Gold, I see the quiet potential that often precedes the loud headlines. The company is doing the hard yards—working through data, following structure, drilling methodically—and that’s where real discoveries are born. It’s easy to get caught up in the noise of instant results, but the groundwork being laid here is what builds genuine value.
Exploration under cover is never straightforward, but with good science and disciplined execution, the rewards can be transformational. E79’s Laverton South program is a textbook example of how to de-risk greenfield targets through thoughtful interpretation and patient drilling. Add in the proximity to significant discoveries like Lighthorse and Duke, and the upside becomes very real.
As investors, we often talk about leverage to discovery. E79 Gold has that in spades—technical, financial, and strategic. What matters now is execution, and from what I see, the company is moving in the right direction.
In my opinion, E79 Gold’s latest campaign is exactly the kind of program that investors should be watching closely. As an investor myself, I remind myself that this is not about immediate gratification—it’s about building a discovery from first principles: geophysics, structure, and methodical drilling.
They’ve ticked every box:
✅Defined structural controls
✅Early gold anomalism
✅Strategic proximity to established discoveries
✅Prudent capital management (~$2.9M in cash as of April)
If this anomaly proves fertile—and as an exploration geologist, any attempt to drill for results is an encouraging sign. With a modest market capitalisation of a modest AUD 3.0M, a positive result could quickly find itself on a much larger stage.
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