Moonlight Resources has begun drilling at the Clermont gold project in Queensland, Australia, kicking off exploration activities following its successful debut on the Australian Securities Exchange (ASX).
The drilling programme is focused on the high-priority Leo Grande prospect, aiming to progress towards a maiden mineral resource estimate (MRE).
The company recently closed its initial public offering (IPO), raising A$10m ($6.65m) amid strong interest from institutional and sophisticated investors, including shareholders of Lithium Plus Minerals and Diatreme Resources.
Moonlight’s portfolio includes more than 5,400km² of gold and critical minerals tenure across resource-rich areas in the Northern Territory, New South Wales, Queensland and Western Australia.
The Clermont gold project contains several advanced and structural gold targets along a 4km mineralised corridor.
Proceeds from the IPO will be used primarily to fast-track the exploration programme at Clermont.
The initial campaign consists of up to 2,000m of reverse circulation (RC) drilling at Leo Grande, with assays expected in the first quarter (Q1) of calendar year 2026 (CY26).
This phase aims to validate and extend the existing geological model, which includes 70 historical RC drill-holes totalling more than 4,620m, completed by previous operators.
The goal is to expand the known mineralisation footprint and validate historic results, progressing towards a Joint Ore Reserves Committee-compliant MRE.
Moonlight managing director Greg Starr said: “I am delighted to begin Moonlight’s journey as a listed company, and I welcome all shareholders to our register. The strong level of support for the IPO reflects confidence in the quality of our portfolio and the significant exploration potential across what is an impressive gold and critical mineral asset base.
“We are also pleased to report that on-field exploration has commenced immediately, with Moonlight’s first drilling programme already under way at our flagship Clermont project in Queensland. Clermont offers multiple walk-up drill targets, with historical intersections demonstrating consistent gold mineralisation across a well-defined structural corridor."
After Leo Grande, follow-up drilling will focus on the Goldfinger and Petersons prospect areas.
Starr added: “We have chosen to commence at several areas along the Leo Grande trend, where historical RC drilling has been limited to depths of less than 140m and the mineralised system, which currently extends for more than 4km of strike, remains open in all directions.
"We look forward to updating shareholders as exploration activities progress into the new year and are committed to building meaningful value through disciplined, technically driven exploration.”
