Overview of St Barbara's latest mineralisation discovery

St Barbara Limited (ASX: $SBM) has completed resource definition drilling for the Sorowar-Pigiput Trend portion of the 24-hole, 4,700-metre diamond drill program at the Simberi Operations in Papua New Guinea. The company has received assay results for five resource definition diamond drill holes, with Managing Director and CEO Andrew Strelein expressing optimism about the discovery of new mineralisation outside the current Inferred Resource area.

Executive commentary on the new mineralisation discovery

The Simberi team have done a great job to complete the resource definition holes on schedule for incorporation of assay results into the planned Mineral Resource and Ore Reserve update at the end of Q4 where we are targeting an upgrade of 1Moz from Inferred to Indicated. The assay results for hole SDH525, however, are very encouraging with three broad intercepts in a new mineralised zone between Pigiput and Sorowar pits, but outside any current Mineral Resource. We are prioritising follow-up holes to test the extension along an interpreted potential 470-metre strike length.

Summary of St Barbara's mineralisation discovery and future plans

St Barbara Limited (ASX: $SBM) has successfully completed resource definition drilling at the Sorowar-Pigiput Trend, uncovering new mineralisation outside the current Inferred Resource area. The company's Managing Director and CEO, Andrew Strelein, expressed optimism about the discovery and highlighted plans for follow-up holes to test the extension along the interpreted potential 470-metre strike length. With assay results for additional drill holes expected in April 2024, St Barbara aims to include all 15 Pigiput-Sorowar resource definition diamond holes in the next Resource Estimate scheduled between April and July 2024. The company's drilling program also includes exploration diamond drill holes to test for new mineralisation located down dip of Inferred Resources, with completion expected in May 2024. St Barbara's focus on exploration and resource definition reflects its commitment to enhancing its Mineral Resource and Ore Reserve, aligning with its corporate strategy for sustainable growth and development.