Additional Phase 2 Drilling at Curley’s Completed

Forgent completed 12 new drill holes at Curley’s; assays now pending for Peak Hill project.

What the company is saying

Forgent plc reports the completion of an additional drilling campaign at the Curley’s prospect, part of its 99%-owned Peak Hill Gold-Copper Project. The company highlights that 12 new holes were drilled at roughly 20-metre step-outs from a prior intersection of 2 metres at 3.68g/t gold, aiming to extend the known mineralisation. This brings total drilling at Peak Hill to 56 holes and 2,771 metres, with 30 holes at Curleys and 26 at Cathedral. Forgent frames the update as operational progress, emphasizing its strategy to build value through systematic exploration and leveraging existing mineralisation. The announcement stresses the company’s focus on gold, copper, and nickel assets, and its belief in strong structural demand for these metals. Technical credibility is underpinned by naming Mr Edward Mead, a Fellow of the Australasian Institute of Mining and Metallurgy, as the Competent Person responsible for the exploration data. The tone is confident, but the company does not present new assay results or resource estimates in this release.

What the data suggests

The update confirms that 12 additional holes were drilled at Curley’s, targeting extensions of previously intersected gold mineralisation (2m @ 3.68g/t Au). The total number of holes drilled at Peak Hill now stands at 56, covering 2,771 metres, with a clear breakdown between Curleys (30 holes) and Cathedral (26 holes). The company’s 99% ownership of Peak Hill is explicitly stated. The operational data is specific and internally consistent, but there are no new assay results, resource estimates, or economic assessments disclosed. The stated objective is to extend mineralisation, but no evidence is provided yet that this has been achieved. Samples are being sent for laboratory analysis, so any impact on resource size or grade remains unknown until results are returned. The absence of financial or economic data is typical for this stage and not a deficiency. The facts support that the company is progressing its exploration systematically, but the value impact will depend on pending assay outcomes.

Analysis

The announcement provides concrete operational progress: 12 additional drill holes completed at Curley's prospect, with a total of 56 holes and 2,771 metres drilled across the Peak Hill project. These are realised, measurable facts. However, the announcement also includes forward-looking statements about extending mineralisation and benefiting from structural demand for metals, which are not yet substantiated by assay results or financial outcomes. The claim of being 'strategically positioned' is aspirational and not supported by new market or resource data. No financial, resource, or assay results are disclosed, and the timeline for laboratory results is unspecified, making the execution distance unknown. The language is moderately promotional but not extreme, as it is typical for exploration-stage updates to highlight potential upside. There is no evidence of a large capital outlay in this specific update.

Risk flags

• ●There is execution risk around whether the new drilling at Curley’s will actually extend the strike and continuity of gold mineralisation, as intended. If assays do not confirm significant mineralisation, the exploration thesis could weaken.
• ●Laboratory assay turnaround times can be unpredictable, potentially delaying the next value catalyst and leaving investors without clarity for an extended period.
• ●The announcement does not provide any new resource estimate or economic data, so the project’s scale and viability remain unquantified until further results are disclosed.

Bottom line

Forgent plc has advanced its Peak Hill Gold-Copper Project by completing 12 additional drill holes at Curley’s, bringing the total to 56 holes and 2,771 metres drilled. The operational update is credible and transparent in its reporting of drilling activity, but the investment case now hinges on pending assay results, which will determine if the targeted mineralisation extensions are realised. No new resource, reserve, or economic data are provided, so the project’s commercial potential remains to be demonstrated. Investors should watch for laboratory results as the next actionable event. The most important takeaway is that the company is systematically progressing exploration, but the real value impact will only be clear once assays confirm the extent and grade of mineralisation.

Announcement summary

(AIM:FORG) Forgent plc announced the completion of an additional drilling programme at the Curley’s prospect within its 99%-owned Peak Hill Gold-Copper Project. The additional drilling comprised 12 holes, positioned at approximately 20-metre step-outs around the Phase I drilling intersection of 2m @ 3.68g/t Au, with the objective of extending the strike and continuity of gold mineralisation. This brings the total number of holes drilled to date to 56, with a cumulative drilled length of 2,771 metres, including 30 holes at Curleys and 26 holes at Cathedral. The additional drill holes were introduced following a site visit review of drilling progress. Samples from the completed programme will now be submitted for laboratory analysis. The Peak Hill project is described as an advanced gold-copper exploration project. Forgent plc also holds an option over Mount Sholl, a nickel-copper-PGE project with a JORC-compliant resource and significant exploration target, and owns Green Rocks, a copper-gold project with high-grade surface mineralisation. The company is focused on acquiring and advancing gold, copper, and nickel assets with existing mineralisation and extensive historical datasets. Forgent plc is strategically positioned to benefit from structural demand for copper, gold, and nickel, driven by electrification, data centre investment, electric vehicle adoption, and gold’s continued role as a safe-haven asset and central bank reserve holding. The exploration results, mineral resources, and ore reserves information in this announcement were compiled by Mr Edward Mead, a consultant to the company and a Fellow of the Australasian Institute of Mining and Metallurgy, who qualifies as a Competent Person under the JORC Code. The 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.

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