Minerals 260 (ASX: MI6) has returned another round of high-grade gold hits from its Bullabulling project near Kalgoorlie, extending a resource growth story that has already pushed the company’s gold inventory past 6.2 million ounces. The latest assays included 7.8 metres at 9.0 grams per tonne gold from shallow depth at the Bacchus deposit, including a standout 2.1 metre intercept grading 30.4 grams per tonne, plus a deeper hit of 19 metres at 1.5 grams per tonne from 172 metres. The results reinforce why investors keep treating Bullabulling as a genuine growth asset rather than a one off discovery.
Drilling Detail Points to More Ounces
The results come from 46 diamond and RC holes totalling 11,163 metres, drilled across the Phoenix, Bacchus, Kraken and Gibraltar deposits that make up the wider Bullabulling system, located roughly 65 kilometres southwest of Kalgoorlie. Gibraltar assays were folded into the July 2026 mineral resource estimate, now 190 million tonnes at 1.0 gram per tonne gold for 6.2 million ounces. Remaining results are held over for a further update targeted for mid-2027, with infill drilling aimed at upgrading Inferred material to the higher confidence Indicated category ahead of any development decision.
Part of a Broader WA Goldfields Push
Bullabulling’s ounce growth is playing out alongside a wider run of activity across the Eastern Goldfields. It follows recent high-grade hits at Astral Resources’ Think Big project, and comes as Westgold Resources lifted its own ore reserves by 41 percent across its WA operations, a sign explorers and producers alike keep finding more ounces rather than just proving up what is already known.
What It Means for ASX Gold Investors
Spot gold is trading around US$4,400 an ounce, off its January 2026 record above US$5,580 but still up more than 20 percent year on year, a backdrop that continues to support exploration budgets. Central bank buying remains a key pillar of that demand, with the World Gold Council reporting record second quarter purchases and most reserve managers expecting official sector holdings to keep growing. For explorers like Minerals 260, resilient prices give management room to keep drilling out a resource rather than rushing a smaller case, though Inferred and Indicated ounces are not guaranteed to convert to mineable reserves.
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