Minerals 260 Begins to Unpack Bullabulling’s Golden Potential

By all accounts, Minerals 260 (ASX: MI6) has come out swinging in its maiden drilling campaign at the Bullabulling Gold Project, unearthing some of the best gold intercepts in the 35-year history of the storied Kalgoorlie-Boulder district project.

The early results—highlighted by a 62-metre intercept at 1.1 grams per tonne (g/t) gold in hole BBRC0015—suggest the Phoenix deposit, already hosting 930,000 ounces of the 2.3 million-ounce resource, may have considerably more to offer below the pit shell.

The standout hit, located on the edge of the existing resource pit, includes several eye-catching high-grade intervals: 1 metre at 4.5g/t from 160 metres, 1 metre at 6.6g/t from 170 metres, and a juicy 1 metre at 23.9g/t from 191 metres. Another hole (BBRC0001) reported 35 metres at 1.3g/t gold from 143 metres, with a peak of 22.5g/t.

Managing Director Luke McFadyen was characteristically buoyant: “These are some of the thickest intercepts in the project’s 35-year history – and we are just getting started.” It’s not puffery: 70 holes have already been completed for over 15,000 metres of drilling, with assays still pending for 51 holes.

The company’s aim is twofold: extend the mineralisation at depth and along strike, and firm up confidence in the existing resource via infill drilling. To that end, it’s deploying a six-rig army—four reverse circulation (RC) and two diamond—across multiple targets at Phoenix, Bacchus, Kraken, and the outlying Gibraltar zone.

Phoenix, the initial focus thanks to early access, is just one piece of a sprawling 8.5km mineralised trend. The goal is to test the full length of the resource’s strike, while also probing a 5km extension towards Gibraltar. Historical exploration suggests gold mineralisation in the region is structurally controlled, sitting comfortably along contacts between mafic and ultramafic units.

Meanwhile, about 40% of the total 80,000-metre program is earmarked for infill drilling, especially at Bacchus, where tighter drill spacing (40x40m or 50x40m) is expected to upgrade parts of the resource from Inferred to Indicated classification. This would set the stage for mining studies to be underpinned by a more robust December 2025 Mineral Resource Estimate.

While depth extensions are the main game, the exploration team is also testing lateral continuity, with holes targeting strike extensions between Bacchus and Kraken, at the southern end of Kraken, and across the unmodelled Gibraltar mineralisation. Notably, Gibraltar is not currently part of the 2.3Moz resource but sits ripe for re-evaluation.

At the same time, reconnaissance drilling will assess several regional anomalies aligned with magnetic highs—often a telltale sign of ultramafic rock and a potential invitation to mineralisation. These areas remain untested by deeper drilling, a surprising oversight given the project’s long exploration history.

It’s still early days for MI6 at Bullabulling, but the signs are encouraging. If the pending assays maintain the early momentum, the company might not just upgrade its resource model—it could redefine the long-term potential of a goldfield many had considered well and truly picked over.

As the drill bits continue spinning and the assays roll in, the market will be watching closely for confirmation that Bullabulling’s golden age is far from over.