REG - First Dev. Resources - Selta Project –exploration update

First Development ResourcesAnnouncement

18/12/2025 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:20251218:nRSR9797La&default-theme=true

RNS Number : 9797L  First Development Resources PLC  18 December 2025

 

18 December 2025

First Development Resources plc

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

Selta Project -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

·   High-resolution aeromagnetic ("AMAG") and radiometric geophysics
survey now scheduled for early January 2026, to be flown over the prospective
Lander West Gold Target.

·   AMAG survey designed to map key structural features and hydrothermal
alteration zones within the bedrock to enhance interpretation of potential
gold-mineralised trends and controlling structures.

·   Results will directly inform and refine drill targeting, supporting
efficient prioritisation of high-potential gold targets.

·   First-pass rare-earth element ("REE") sampling programme focused on two
priority REE target areas, Ingallan and West Nintabirnna, at the Selta Project
was successfully completed earlier this month.

·   Samples have now been submitted for laboratory analysis and further
updates will be provided once results are received and assessed.

 

Tristan Pottas, Chief Executive Officer of FDR, commented:

"Our recently completed targeting study has outlined multiple compelling
targets along the regionally significant Stafford Gold Trend, an emerging
mineralised corridor that hosts gold and high-grade antimony to the south. We
believe the same structural controls extend onto the Selta Project,
highlighting the potential for meaningful discovery.

The upcoming AMAG geophysics survey represents an efficient, high-impact step
forward. The data will enhance our understanding of the regional structures
and enable us to refine and prioritise potential drill-ready gold targets.

We are pleased to be working with Thomson Airborne to deliver this important
phase of exploration."

 

SELTA GOLD TARGETS

Following multiple phases of detailed desktop review, the Company has
identified two priority gold target areas at Selta: Lander West and
Yundurbulu. The locations of these targets, along with other exploration areas
on 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 potential for gold at both Lander West and Yundurbulu has been further
validated by a comprehensive gold targeting study conducted by Perth-based
consultants Resource Potentials earlier this year. Commissioned by FDR, the
study involved compiling, re-processing, and integrating historical drilling,
geological, geophysical, and geochemical datasets to pinpoint gold targets and
provide recommendations for future exploration work. The findings were
announced on 20 October 2025 and can be accessed via the following link:

Selta Project - Gold exploration strategy - 07:00:09 20 Oct 2025 - FDR News
article | London Stock Exchange
(https://www.londonstockexchange.com/news-article/FDR/selta-project-gold-exploration-strategy/17285194)

While Yundurbulu remains highly prospective and close to known mineralisation,
initial exploration will focus on the Lander West gold Target, interpreted as
a continuation of the Stafford Gold Trend where iTech Minerals Ltd. (ASX: ITM)
has delineated high grade gold and antimony on adjacent ground.(1)

Gold targets within this corridor are interpreted to be shear-hosted, forming
along zones of deformation where rocks have been sheared, altered, or
brecciated. These structures often produce subtle, detectable variations in
magnetic susceptibility, either from magnetite destruction during alteration
or from magnetite enrichment associated with intrusions or shear-related
fabrics. Determining these structures is key to identifying areas for further
exploration.

A high-resolution magnetic geophysics survey across the Lander West Target
will provide critical data to evaluate the structural setting and refine
target potential, guiding the planning of follow-up drilling.

 

SURVEY METHODOLOGY AND PARAMETERS

FDR has appointed Thomson Airborne Pty Ltd ("Thomson"), a leading airborne
geophysical consultancy based in New South Wales, Australia, to undertake the
AMAG survey. Established in 2007, Thomson has an extensive track record
delivering high-resolution magnetic and radiometric datasets for exploration
companies and government agencies, including the Australian Federal
Government.

The fixed-wing survey will be flown on 30° northeast-oriented lines, with
50-metre line spacing and 500-metre tie lines, using a Geometrics G823-A
caesium-vapour magnetometer. The system records 20 readings per second,
providing an average sample spacing of 3-4 metres along line.

A radiometric survey will be conducted concurrently as a low-cost add-on,
using a Radiation Solutions RS-500w spectrometer, recording potassium,
uranium, and thorium at two readings per second. This produces an average
sample spacing of 30-40 metres along line and is designed to map potassium
concentrations, an element associated with potassic alteration in gold
deposits, such as muscovite, sericite, illite, and feldspar.

These high-resolution datasets will allow FDR's technical team to accurately
delineate geological structures and alteration. FDR plans to also utilise the
high-resolution magnetics data for three-dimensional inversion modelling which
will further facilitate structural interpretation to depth, and help develop
well-constrained targets for follow-up exploration. The 30° survey
orientation intersects the regional geological fabric at approximately 90°
(Figure 2), enhancing magnetic contrast across key fault structures, improving
anomaly clarity, and enabling precise mapping of shape, width, and continuity
of prospective shear zones.

Identifying these structures will guide targeted exploration in future phases,
ensuring a cost-effective and results-driven approach on the Lander West Gold
Target.

 

Figure 2: Proposed Survey Area with Interpreted Geology in Relation to
High-Grade Au & Sb Rock chip Assays on Neighbouring Ground (1)

NEXT STEPS

The AMAG survey represents the first step in a multi-phase exploration
strategy, designed to systematically advance high-priority gold targets to a
drill-ready stage. This approach will provide FDR's technical team with
critical structural and geophysical data, enabling more precise targeting and
increasing the potential for significant gold discoveries, while maintaining a
cost-effective exploration programme.

SELTA RARE-EARTH ELEMENT EXPLORATION UPDATE

The Company is pleased to advise that the previously announced first-pass
rare-earth element ("REE") sampling programme at the Selta Project was
successfully completed earlier this month. The original announcement dated 19
November 2025 is available via the link below.

 

Selta Project - REE Exploration Update - 07:00:04 19 Nov 2025 - FDR News
article | London Stock Exchange
(https://www.londonstockexchange.com/news-article/FDR/selta-project-ree-exploration-update/17333530)

 

The programme focused on two priority REE target areas, Ingallan and West
Nintabrinna, which were identified following detailed desktop studies. Field
activities were designed to validate historical geochemical anomalies and to
generate additional targets for potential follow-up mapping, sampling and
investigation of ionic clay-hosted REE potential at Ingallan.

Samples collected from both the Ingallan and West Nintabrinna target areas
have now been submitted for laboratory analysis. The Company will provide
further updates once results are received and assessed.

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) )

 

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been reviewed and
approved by Mr Nicholas O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a
qualified geologist and acts as the Qualified Person under the AIM Rules -
Note for Mining and Oil & Gas Companies. Mr O'Reilly is a principal
consultant working for Mining Analyst Consulting Ltd which has been retained
by First Development Resources plc to provide technical support.

 

GLOSSARY

 Term                           Definition
 Aeromagnetic (AMAG) survey     An airborne geophysical survey that measures variations in the Earth's
                                magnetic field to map geology and structures.
 High-resolution magnetic data  Detailed magnetic measurements collected at tight line spacing and low flight
                                height to define subtle geological features.
 Magnetic anomaly               A change in the Earth's magnetic field caused by variations in rock type or
                                alteration.
 Hydrothermal alteration        Chemical and mineralogical changes in rocks caused by hot fluid flow, often
                                associated with mineralisation.
 Potassic Alteration            A type of hydrothermal alteration where rocks are enriched in potassium (K),
                                typically forming muscovite/sericite, biotite, or K-feldspar. It commonly
                                occurs around gold-bearing shear zones and other hydrothermal systems, where
                                hot, potassium-rich fluids replace original minerals.
 Structural feature             A geological break or deformation in rocks such as faults, shear zones, or
                                folds.
 Gold-mineralised trend         A corridor where multiple gold occurrences align along a structural or
                                geological control.
 Shear zone                     A zone of intense deformation where rocks have been sheared and fractured,
                                often hosting gold.

 

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)
 Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396

 Nominated Adviser

 Roland Cornish / Asia Szusciak
 SI Capital Limited               Tel: +44 (0) 1483 413 500

 Broker

 Nick Emerson

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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 RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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  UPDFFWFEWEISEFE



            Copyright 2019 Regulatory News Service, all rights reserved