Samso News: E79 Gold Mines Limited (ASX: E79) – Gravity Survey Defines 40+ Drill Targets at Cue Gold Project - The Story Is Taking Shape.
- Noel Ong
- 3 minutes ago
- 8 min read
Announcement
Gravity Survey Identifies Multiple Priority Drill Targets - 16 February 2026 ( view announcement )
High-Resolution Gravity survey Completed at Cue Gold Project - 2 February 2026 ( view announcement )
I am a shareholder of E79 Gold and I am liking the new potential of the new consolidated 65km² landholding in the Day Dawn goldfield, immediately south of Westgold’s Great Fingall Gold Mine (1.2Moz @ 19.2g/t Au). IN this update, we discuss the completion and the identifying of numerous geophysical targets.
As we all know, anomalies are just an area of interest and it has no direct correlation to mineralisation but the high-resolution gravity survey have a history in this region. It is a method used successfully in the district to define cross-cutting structures within favourable host rocks. From a mineral exploration point of view, this is a good start.
It is good to see that the company has placed themselves in the "blue sky" stage of the game and that is exciting for an investor.
About E79 Gold Mines Limited (ASX: E79)
E79 Gold Mines Limited is an Australian gold-focused exploration company with projects located in Western Australia and the Northern Territory.
The Company’s strategy is centred on identifying and advancing structurally controlled gold systems within established mineral provinces. Its portfolio comprises approximately 2,403km² of tenure across three key regions:
Cue Gold Project – Murchison Gold Province, WA
~65km² landholding in the Day Dawn goldfield.
Located immediately south of Westgold’s Great Fingall Gold Mine (historical production of 1.2Moz @ 19.2g/t Au).
Target style: high-grade quartz reef-hosted gold associated with cross-cutting structures in the Great Fingall Dolerite and Meekatharra Formation greenstones.
Current focus area for drilling and gravity-defined structural targeting.
Held through Cue Metals Pty Ltd, 90% owned by E79 Gold.
This project forms the Company’s primary near-term gold exploration focus.
Laverton South Gold Project – Laverton Tectonic Zone, WA
~272km² tenure.
Located within the Yilgarn Craton.
Region known for significant gold endowment (>30Moz).
Exploration targeting structurally controlled gold systems.
Northern Territory Projects – McArthur Basin
Includes Mountain Home (~1,366km²) and Jungar Flats (~698km²).
Located within the McArthur Basin, recognised as the world’s largest Zn-Pb accumulation.
Prospectivity for copper, gold, and diamonds.
Represents longer-term base and precious metals optionality.
Corporate Snapshot (Recent ASX Disclosures)
ASX Code: E79
Market capitalisation: ~A$10–14M (based on recent announcements)
Shares on issue: ~325–353 million
ASX Release 1 – 2 February 2026
High-Resolution Gravity Survey Completed at Cue Gold Project
Source: E79 Gold Mines Limited
Introduction – Survey Completion Across the Entire Project Area
On 2 February 2026, E79 Gold announced completion of a project-wide high-resolution gravity survey at the Cue Gold Project in the Murchison region of Western Australia (Figure 1).
Figure 1: Processed ground gravity data over the Cue Gold Project (source: E79)
The Cue Gold Project covers approximately 65km² and is located immediately south of the historical Day Dawn goldfield, home to the Great Fingall Gold Mine, which historically produced 1.2Moz at an average grade of 19.2g/t gold (Figure 2 and Figure 3).
Figure 2: Cue Gold Project location plan and surrounding gold operations (source: E79)
The geological setting comprises the Great Fingall Dolerite intruding the Meekatharra Formation greenstones. Gold mineralisation in the district is associated with cross-cutting structures within these units. High-resolution gravity data has been used successfully by operators in the region to identify structures that are not visible in other datasets.
Figure 3: Aerial view of Cue Gold Project relative to Great Fingall and Break of Day (source: E79)
Highlights – Survey Specifications and Data Quality
3,474 gravity stations surveyed across the project.
100m x 100m spacing in the western half.
200m x 200m spacing in the eastern half.
Survey conducted using a Scintrex CG-5 Autograv gravity meter.
Instrument precision better than 0.01 milligals.
Elevation precision ±5cm via RTK GPS.
40-second readings at each station.
Base station readings taken at the beginning and end of each day.
Processing undertaken by experienced third-party specialists.
Target generation expected within 2–3 weeks.
The survey lines were oriented east-west to cross interpreted stratigraphy.
Management Commentary
CEO Ned Summerhayes stated that acquiring the high-resolution gravity dataset is key to understanding discovery potential. He referenced the demonstrated use of gravity data at Day Dawn and Break of Day in identifying mineralised structures through preferred host rocks.
Near-term Milestones to Watch
Completion of gravity data processing and interpretation.
Definition of priority drill targets.
Drill program planning.
Progression of heritage agreements.
Advancement of pending tenure applications.
ASX Release 2 – 16 February 2026
Gravity Survey Identifies Multiple Priority Drill Targets at Cue Gold Project
Source: E79 Gold Mines Limited
Introduction – Target Definition from Interpreted Gravity Data
On 16 February 2026, E79 Gold announced that interpretation of the processed gravity survey has identified over 40 drill targets across the Cue Gold Project (Figure 4).
From these, 12 high-priority targets have been defined. These targets combine:
Cross-cutting structural features
Preferred host rocks
Occurrence on granted tenements
Figure 4: – Drape of gravity image over Cue Gold Project (source: E79)
The announcement confirms that the Great Fingall Dolerite extends further across the project than previously recognised. The Great Fingall Dolerite hosts the Great Fingall Mine located 8km along strike to the northeast (Figure 5).
Figure 5: Drape of gravity over solid geology with interpreted drill targets (source: E79)
Highlights – Breakdown of High-Priority Targets
Overall Target Definition
Over 40 gravity-defined targets across the project.
12 high-priority targets selected for initial drill testing.
Targets occur within Great Fingall Dolerite, Meekatharra Greenstone, and eastern sequence.
Great Fingall Dolerite Targets
Five high-priority targets interpreted as cross-cutting structures through the Great Fingall Dolerite.
Includes the Riptide Prospect:
4m @ 0.3g/t Au from 16m (LAC586)
4m @ 0.6g/t Au from 32m (LAC802)
28m @ 0.4g/t Au from 143m (arsenopyrite altered dolerite)
Limited deeper drilling completed historically.
Remaining four targets largely untested.
Meekatharra Greenstone Targets
Five high-priority targets.
Combine gravity highs and lows with interpreted cross-cutting structures.
Notable ~600m long gravity high units orthogonal to NE-trending stratigraphy.
Host rocks include basaltic greenstone sequence.
Eastern Targets
Two high-priority targets in eastern geology sequence.
Area mapped as granite, but drilling confirms sediments and intermediate rocks.
Northern extension of MBA23:
4m @ 4.4g/t Au from 35m within foliated intermediate volcanics.
Next Steps Confirmed
Drill planning over priority targets.
Heritage clearances in progress.
Tenure applications advancing.
Management Commentary
CEO Ned Summerhayes stated that interpretation indicates a greater extent of the Great Fingall Dolerite than previously recognised. He noted structural complexity within the Meekatharra Formation and confirmed the Company intends to test priority targets with drilling.
Near-term Milestones to Watch
Heritage clearance completion.
Drill rig mobilisation.
Initial drill testing of 12 high-priority targets.
Further interpretation of gravity and magnetic datasets.
Ongoing target ranking refinement.
Samso Concluding Comments
The two ASX releases show the progression from data acquisition to target definition. The first announcement confirmed completion of a high-resolution gravity survey across the full project area (Figure 1). The second announcement confirmed interpretation of that dataset and identification of priority drill targets (Figure 4).
The gravity survey has mapped structural corridors through the Great Fingall Dolerite and Meekatharra Formation (Figure 5). These units are recognised host rocks for gold mineralisation in the district. Historical production at Great Fingall provides regional context.
The definition of 12 high-priority targets across multiple geological domains indicates structural repetition and potential scale (Figure 5). The Riptide Prospect demonstrates existing anomalism within the dolerite, while the eastern targets show high-grade historical intersections.
The obvious next phase will be to drill test these gravity-defined structures. Heritage clearances and tenure progression are required prior to drilling. The announcements provide a defined pathway from geophysical targeting to drill execution.
E79 Gold has outlined a dataset-driven exploration approach at Cue. The gravity survey results provide the basis for initial drill programs aimed at testing cross-cutting structures within recognised host rocks. Further updates are expected as drilling plans advance.
Market Implication - The Investor Lens
As I have mentioned in the beginning of this blog, I am a shareholder and the recent placement is keeping investors like myself happy (Figure . With a market capitalisation of just below AUD $15M, this is a good level for some excitement, once drilling begins to happen.
Like my other gold punt, Miramar Resources Limited (ASX: M2R), the location is great for a discovery. With producers within reach for an acquisition, a discovery of any economical size will have an exit in the short term. If they do discover something that the neighbouring producers feel is too small, the rising gold price will make sure that the interest is reinvigorated.
In all my previous coverage of E79, I have mentioned that I am a big fan of the management so this will be an interested upcoming months as we await drilling programs.
Figure 6: The share price chart for E79 as of 20th February 2026 (source: commsec)
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