InvestSMART

Nelson Resources Limited (ASX:NES)

ALERT: Price-sensitive ASX Announcement for NES
Current share price for NES : $0.004 -0.002 (-33.33%)+
Announcement
Release
28 Oct 2025 8:34AM
Price at Release
$0.006
Full Release
download
Summary
Nelson Resources Limited has submitted a Program of Work to the Department of Energy, Mines, Industry Regulation and Safety for a comprehensive drilling program at their Yarri Gold Project in Western Australia. The plan includes 230 holes for a total of 11,544 meters of reverse circulation drilling. Collaborating with MEGA Resources, Nelson expects to commence drilling following the approval of the PoW. MEGA will fully fund and manage operations, providing necessary services and handling permitting processes. High-grade gold intercepts have been identified, and a Right to Mine Agreement with MEGA was executed on 1 October 2025. The company is in active discussions with drilling contractors and plans to award the contract soon.
Key Points
  • Nelson Resources Limited submitted a Program of Work (PoW) to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for a drilling program at the Yarri Gold Project.
  • The PoW includes plans for 230 holes, covering 11,544 meters of RC drilling at Yarri.
  • Nelson Resources is collaborating with MEGA Resources, which will fully fund operations up to $10 million.
  • MEGA Resources will also provide geological and engineering services, as well as manage all project permitting and approval requirements.
  • The drilling at Yarri will commence once the PoW is approved and contractors are mobilized to the site.
  • High-grade gold intercepts have been identified at Yarri, including significant intercepts of 8m @ 18.1g/t Au and 9m @ 14.6g/t Au.
  • A Right to Mine Agreement with MEGA was executed on 1 October 2025.
  • Nelson and MEGA are in discussions with drilling contractors to award the contract shortly.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.