Sinclair Gold reported substantial Mineral Resource growth at its Mt Henry Gold Project, with the updated estimate including 1.3Moz in JORC 2012 Measured and Indicated categories. The company said about 90% of contained gold is within 200m of surface.
By the end of the quarter, Sinclair had completed 32,578m of drilling. The company said 20,426m, or 41%, of its planned 50,000m drilling program had been incorporated into the updated resource estimate, and completion of more than 20,000m triggered the first contingent consideration milestone under its Mt Henry acquisition agreement.
Sinclair said step-out drilling remains under way and assays were pending from about 30 holes outside the current resource boundaries at Mt Henry and Selene. The company expects the results to guide further drilling ahead of a planned FY27 Mineral Resource update.
During the quarter, Sinclair completed a transaction with Arc Mineral Royalties Inc. that delivered a further $4.0 million in cash and 4 million Arc shares, following a $1.0 million deposit received in April 2026. Sinclair said the total $5.0 million cash consideration was for a 1% net smelter return royalty over Mt Henry.
As at 30 September 2026, Sinclair reported cash on hand of $24.8 million. It reported underlying quarterly cash outflow of $8.7 million, including $7.4 million of exploration expenditure at Mt Henry.
Source: Download SGC official ASX announcement, 2026-10-29.
Technical resource long-section from Sinclair Gold's ASX announcement dated 29 October 2026.