REG - FORGENT PLC - Submission of Peak Hills Drilling Application

ForgentAnnouncement

26/05/2026 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:20260526:nRSZ5994Fa&default-theme=true

RNS Number : 5994F  FORGENT PLC  26 May 2026

26 May 2026
Forgent plc
 ("Forgent" or the "Company")

Forgent Submits Peak Hills Drilling Approval Application Ahead of Summer
Gold-Copper Drilling Campaign

Forgent plc (AIM: FORG), the technology-led energy transition company, is
pleased to provide an operational update regarding its Peak Hill project
(Figure 1), a large-scale advanced gold and copper exploration project in
Western Australia, approaching drilling. The Company believes Peak Hills
offers the potential for near term drilling and a low-capex development
pathway due to the presence of existing nearby processing infrastructure.

Highlights

·    Program of Work ("PoW") submitted for maiden Forgent drilling
programme at Peak Hills, Western Australia

·    Drilling targeted to commence during Summer 2026, subject to
regulatory approval

·    Three priority gold targets identified following substantial review
and reinterpretation of extensive historic exploration datasets

·    Existing nearby processing infrastructure provides potential pathway
toward accelerated development and monetisation opportunities

James Parsons, CEO of Forgent plc, commented:

"The Company is now moving to active drilling at Peak Hills with operational
and financial resources increasingly focused on unlocking value from the
drillbit this summer. We believe the combination of shallow mineralisation
targets, strong historic results and nearby processing infrastructure creates
a compelling platform for focused modern exploration and potential accelerated
commercialisation."

Forgent has substantially completed the review and reinterpretation of the
extensive historical geological and exploration database associated with Peak
Hills, including historic drilling, sampling, geophysical and geological
datasets. Additional target generation work remains ongoing, including further
interpretation of gold and copper mineralisation potential across the wider
project area. Following the review to date, the Company has designed and
submitted a Program of Work (PoW) to the Department of Mines Petroleum and
Exploration (DMPE) to target three high-priority target prospects (Figure 2)
for Forgent's maiden drilling programme at Peak Hills this summer:

·      Karalundi Prospect

o  Historic drilling on 400m x 100m spacing, with significant gold intercepts

o  CHAC0780: 40 - 42m: 2m @ 5.09g/t Au

o  OSAC008: 52 - 60m: 8m @ 0.85g/t Au

o  Rock chip results of up to 24.5/t Au

·      Junction Prospect

o  Multiple gold assays within 5 metre drilling composite samples, in
drilling on a 400 metre x 100 metre grid

o  EFAC3394; 50-60m: 10m @ 0.45g/t Au

o  EFAC3392: 35-45m: 10m @ 0.49g/t Au

o  EFAC3914: 35-50m: 15m @ 0.2g/t Au

o  EFAC3343: 80-95m: 15m @ 0.42g/t Au

o  EFAC3542: 35-60m: 25m @ 0.53g/t Au

o  Drilling to infill and refine targets.

·      Curley's Prospect

o  Significant previous gold assays with 350 metres of open strike to the
west, with no drilling

o  Drilling intersected grades up to 1m at 47g/t Au from 70m within a
Dolerite

Following  approval of the POW, expected in a number of weeks, the Company
will  confirm the timing for the start of drilling activities, anticipated
during summer 2026. A drilling contractor has already been selected to
undertake the aircore drilling program to a maximum depth of 100 metres and
the rig has been provisionally booked.

The current planned programme will focus on gold, with copper mineralisation
targets still being interpreted.  In anticipation of drilling, a site trip by
a company geologist will be completed in the next 2 weeks.

The primary objectives of the drilling campaign are to:

·      validate and confirm historical exploration results;

·      test extensions to known mineralised zones;

·      identify and define additional mineralised volumes; and

·    assess the potential for near-term development opportunities
leveraging existing regional processing plants and infrastructure.

The Board believes the combination of existing regional infrastructure,
historical exploration success and multiple untested targets provides a
compelling opportunity to rapidly advance the Peak Hills assets.

Further technical updates will be provided following receipt of regulatory
approvals and finalisation of drilling logistics.

About the Peak Hill project

The Peak Hill project is a large-scale advanced gold dominant exploration
project with historic drilling and rock sampling having returned very high
gold and copper grades.  Forgent owns a  51% interest in Peak Hill with the
option to acquire  a further 48%.  It is an under-explored project where
significant data exists but has not been fully reprocessed or targeted using
modern exploration techniques. The land package is large, with many prospects
rather than a single isolated target. The project covers approximately 163
km² across five granted tenements, located around 80 km north of Meekatharra
with excellent infrastructure access. The project lies within the Proterozoic
Glengarry Sub-Basin and is underlain by Karalundi metasediments and Narracoota
Volcanics, a geological sequence considered prospective for gold and copper
mineralisation.

 

For further information on Forgent plc, visit the Company's website
www.forgentplc.com (http://www.forgentplc.com) or contact:

 

ENQUIRIES 

 

 FORGENT plc                                     c/o Camarco

 James Parsons
 Strand Hanson - Nomad & Financial Adviser       Tel: +44 20 7409 3494 

 James Harris / Richard Johnson 
 Global Investment Strategy UK Ltd - Broker      Tel: +44 20 7048 9045 

 Christopher Kipling / Samantha Esqulant 
 Camarco - Financial PR                          Tel: 0203 757 4980

 Billy Clegg / Georgia Edmonds / Fergus Young    Email: forgent@camarco.co.uk

 

This announcement contains inside information as defined in Article 7 of the
EU Market Abuse Regulation No 596/2014, as it forms part of United
Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018,
as amended, and has been announced in accordance with the Company's
obligations under Article 17 of that Regulation.

Competent Person's Statement

The information in this announcement that relates to exploration results,
mineral resources or ore reserves is based on information compiled by Mr
Edward Mead, who is a Fellow of the Australasian Institute of Mining and
Metallurgy. Mr Mead is a consultant to the Company. Mr Mead has sufficient
experience which is relevant to the style of mineralisation and type of
deposits under consideration and to the activity that he is undertaking to
qualify as a Competent Person as defined in the 2012 edition of the
`Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this
information in the form and context in which it appears in this announcement.

Figure 1: Project location map.

 

Figure 2: Project tenements and the three maiden drill prospect locations,
with drill hole intercepts overlayed on regional reverse to pole magnetics.
All data has been collated from Western Australian Mineral Exploration Reports
(WAMEX), that are public information and accessible to the public. The three
prospect locations are the first areas to be identified for  follow up work,
with further targeting still underway.

 

 

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  UPDPPURCAUPQGRA



            Copyright 2019 Regulatory News Service, all rights reserved