RCS - First Dev. Resources - Selta Project – Gold exploration update

First Development ResourcesAnnouncement

08/01/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260108:nRSH0529Oa&default-theme=true

RNS Number : 0529O  First Development Resources PLC  08 January 2026

 

08 January 2026

First Development Resources plc

('First Development", "FDR" or the "Company')

Selta Project - Gold exploration update

First Development Resources plc (AIM: FDR), the UK-based, Australia-focused
exploration company with mineral interests in Western Australia and the
Northern Territory, is pleased to provide an update on its gold ("Au")
focussed exploration at the Selta Project ("Selta" or the "Project"), located
in the Aileron Province of Australia's Northern Territory.

HIGHLIGHTS

·    Gradient Array Induced Polarisation ("GAIP") geophysical survey
scheduled to advance the phased gold exploration strategy at the Selta
Project.

·    Lander West prioritised as a key gold target, interpreted as a
continuation of the Stafford Gold Trend adjacent to known gold and antimony
mineralisation on neighbouring ground.

·    GAIP survey designed to complement the ongoing high-resolution
aeromagnetic ("AMAG") and radiometric geophysical surveys, enhancing
understanding of subsurface geology and structural features.

·    Integration of geophysical and historical datasets expected to refine
and prioritise potential drill targets, informing the next phase of
exploration at Selta.

 

Tristan Pottas, Chief Executive Officer of FDR, commented:

"Today's announcement represents the next step in the Company's phased and
disciplined approach to advancing its gold exploration strategy at Selta. The
gradient array induced polarisation geophysics survey complements the airborne
magnetic survey currently underway and, together, these programmes are
designed to enhance our understanding of the subsurface geology across the
Lander West gold target.

The integration of these datasets is intended to refine and prioritise target
areas, increase confidence in their exploration potential and support informed
decision-making as we progress our exploration at Selta. This work represents
a key step towards the definition of robust drill targets and underpins our
objective of systematically advancing Selta through the exploration pipeline."

 

SELTA GOLD TARGETS

Following a detailed desktop review, several prospective exploration areas for
various metals have been identified at Selta, including two named gold targets
of which the Lander West Gold Target is the current priority. The locations of
the various targets, together with other exploration areas within the Selta
Project, are shown in Figure 1.

Notes: LCT-PEG = lithium, caesium and tantalum (LCT) pegmatite (PEG)

Figure 1: Selta Project Targets Identified by Data Review

The Company has prioritised the Lander West gold target, which is interpreted
as a continuation of the Stafford Gold Trend (Figure 2), where iTech Minerals
Pty Ltd (ASX: ITM) has delineated high-grade gold and antimony mineralisation
on adjacent ground.(1,2) Gold mineralisation within this corridor is
interpreted to be shear-hosted, forming along zones of deformation where rocks
have been sheared, altered or brecciated.

Figure 2: Interpreted extension of Stafford Gold Trend onto the Selta Project

FDR has implemented a staged exploration strategy to progressively refine
target areas and define drilling targets. As part of this strategy, the
Company is undertaking a Gradient Array Induced Polarisation ("GAIP")
geophysical survey at Selta. GAIP is a proven exploration technique that
measures subsurface resistivity and chargeability to assist in the
identification of mineralised zones and structural features. The technique
provides rapid, high-resolution data over large areas, enabling efficient
target prioritisation and focused follow-up exploration, including drilling,
on the most prospective areas.

The GAIP survey is planned across four survey blocks (Figure 3), each
approximately 2 km × 1.5 km in size, located over anomalous gold and
pathfinder element concentrations identified from historical drilling and
rock-chip sampling. The survey will collect resistivity data to assist in
mapping subsurface geology and structures, and chargeability data to identify
anomalies potentially related to disseminated sulphide minerals associated
with gold alteration systems. The GAIP results, together with follow-up
dipole-dipole IP surveys to assess depth extents, will be integrated with
magnetic inversion models and existing drilling data to generate robust
targets for drilling.

Figure 3: GAIP geophysical survey area in relation to AMAG survey area at the
Selta Project

The GAIP survey will follow the Airborne Magnetic ("AMAG") geophysics survey
currently being flown at Selta. The announcement relating to the AMAG survey
can be accessed via the following link:

Selta Project -exploration update - 07:00:02 18 Dec 2025 - FDR News article |
London Stock Exchange
(https://www.londonstockexchange.com/news-article/FDR/selta-project-exploration-update/17379310)

The integration of GAIP and AMAG data at Lander West is expected to maximise
exploration effectiveness, with GAIP providing detailed ground-based
information on mineralisation and AMAG mapping broader geological structures
and lithological variations. Radiometric data, which is being collected
concurrently to the AMAG, will help identify potassic alteration zones in
areas with no transported cover, as well as uranium and thorium anomalism
potentially related to rare-earth element and lithium-caesium-tantalum
pegmatite targets.  Together, these datasets will assist the Company in
refining exploration models, prioritising drill targets and increasing
confidence in the identification of prospective mineralised zones.

SURVEY METHODOLOGY AND PARAMETERS

FDR has appointed Zonge Engineering and Research Organisation (Aust) Pty Ltd
("Zonge") to conduct the GAIP survey at Selta. Zonge is an established
provider of geophysical survey services with over 40 years' experience
operating in Australia and internationally. The company has a proven track
record of delivering high-quality geophysical data in a safe, efficient and
cost-effective manner, including in technically challenging environments.

GAIP surveys are widely used in mineral exploration to measure subsurface
resistivity and chargeability, assisting in the identification of geological
features and lithologies associated with mineralisation, particularly
disseminated sulphide systems. The method utilises fixed current electrodes
and multiple mobile potential electrodes, enabling rapid data acquisition
across large areas and supporting the delineation of broad mineralised zones,
mapping of structural features and prioritisation of targets for follow-up
exploration, including more detailed surveys or drilling.

The GAIP survey involves the injection of an electrical current into the
ground via two widely spaced current electrodes, with the resulting voltage
gradients measured at multiple locations between these electrodes. From these
measurements, key geophysical parameters are derived, including:

·     Resistivity, which reflects how strongly rocks resist the flow of
electricity, helping map subsurface rock types and alteration zones to
identify prospective areas for gold mineralisation. and

·    Chargeability (induced polarisation response), which reflects the
capacity of subsurface materials to temporarily store electrical charge after
the applied current is switched off, helping detect sulphide minerals often
associated with gold mineralisation.

These parameters are commonly used to assist in identifying geological
features and lithologies associated with mineralisation, particularly
disseminated sulphide systems.

Under the gradient array configuration, the current electrodes remain fixed
for extended sections of the survey, while multiple pairs of potential
electrodes are deployed along survey lines at regular intervals. This
configuration enables rapid data collection and high data density across the
survey area.

The survey is scheduled to commence in mid-January 2026 and is expected to
take approximately four weeks to complete. Following data acquisition, the
results will be processed and interpreted, with outcomes used to inform the
next phase of exploration at Selta.

REFERENCE

1.     iTech Minerals Ltd (ASX: ITM) announcement dated 19 August 2025

( https://announcements.asx.com.au/asxpdf/20250819/pdf/06n0xk4zmh438y.pdf
(https://announcements.asx.com.au/asxpdf/20250819/pdf/06n0xk4zmh438y.pdf) )

2.     iTech Minerals Ltd (ASX: ITM) announcement dated 26 November 2025
(https://announcements.asx.com.au/asxpdf/20251126/pdf/06shrvt8qpbc0t.pdf
(https://announcements.asx.com.au/asxpdf/20251126/pdf/06shrvt8qpbc0t.pdf) )

GLOSSARY

 Term                                               Definition
 Aeromagnetic (AMAG) survey                         An airborne geophysical survey that measures variations in the Earth's
                                                    magnetic field to map geology and structures.
 Dipole - dipole IP survey                          A geophysical method that measures subsurface electrical chargeability and
                                                    resistivity using pairs of current and potential electrodes. It is used to map
                                                    the depth and extent of mineralised zones, supporting target definition for
                                                    exploration and drilling.
 Disseminated sulphides                             Fine-grained sulphide minerals (such as pyrite or arsenopyrite) spread
                                                    throughout the host rock. Their presence can indicate gold or other metal
                                                    mineralisation and helps guide exploration and drilling targets.
 Gold alteration system                             Zones of rock that have been chemically altered by hydrothermal fluids, often
                                                    associated with gold mineralisation. Identifying these systems helps
                                                    geologists locate and prioritise prospective gold targets for exploration.
 Gold-mineralised trend                             A corridor where multiple gold occurrences align along a structural or
                                                    geological control.
 Gradient Array Induced Polarisation (GAIP) survey  A geophysical survey method that maps subsurface geology and mineralisation by
                                                    measuring electrical properties of the ground. GAIP helps identify and
                                                    prioritise prospective gold targets for follow-up exploration and drilling.
 Pathfinder elements                                Elements such as arsenic, antimony, copper, and bismuth that often occur
                                                    alongside gold mineralisation. Their presence helps geologists identify areas
                                                    with potential gold deposits and prioritise targets for exploration and
                                                    drilling.
 Potassic alteration                                Rock altered by hydrothermal fluids to form potassium-rich minerals, often
                                                    associated with gold or copper mineralisation.
 Shear zone                                         A zone of intense deformation where rocks have been sheared and fractured,
                                                    often hosting gold.
 Structural feature                                 A geological break or deformation in rocks such as faults, shear zones, or
                                                    folds.

 

For further information visit www.firstdevelopmentresources.com
(http://www.firstdevelopmentresources.com) or contact the following:

 First Development Resources plc  Tel: +44 (0) 20 3778 1397

 Tristan Pottas (CEO)

ABOUT REACH ANNOUNCEMENTS

This is a Reach announcement. Reach is an investor communication service aimed
at assisting listed and unlisted (including AIM quoted) companies to
distribute media only / non-regulatory news releases into the public domain.
Information required to be notified under the AIM Rules for Companies, Market
Abuse Regulation or other regulation would be disseminated as an RNS
regulatory announcement and not on Reach.

ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources' assets comprise eight granted tenements covering
a total area of 2,314.4km(2). Five of the tenements, comprising three
prospective copper-gold projects, are located in Western Australia (WA) while
the remaining three tenements, comprising a rare-earth element (REE), uranium,
lithium and gold project, are located in the Australian's Northern Territory.
All tenements are wholly owned by FDR. The assets are a mixture of drill ready
and earlier stage exploration.

The WA Projects include the Company's Wallal Project as well as Ripon Hills
and Braeside West Projects situated in the Paterson Province, which is widely
regarded as one of the most productive regions in Australia for the discovery
of world-class gold-copper deposits, and which is home to several world-class
mines and more recent discoveries.

The Selta Project in the Northern Territory is located in an area considered
highly prospective for uranium and rare-earth element mineralisation along
with base and precious metal mineralisation. Numerous companies are actively
exploring within the region.

Beyond the existing portfolio, FDR is actively looking to expand its portfolio
through the acquisition of early-stage exploration projects in Australia.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAEAKFXEAEKEFA



            Copyright 2019 Regulatory News Service, all rights reserved