Aurelia Metals Limited has reported encouraging exploration results from its ongoing drill program at the Federation deposit’s Federation West offset. The latest findings reveal several high-grade intercepts that underscore the deposit’s potential, with multiple drillholes returning robust grades of zinc, lead, copper, gold, and silver. For example, intersections such as a 12.5‐metre interval (with an estimated true width of 9.7 metres) in one drillhole (FDD219W1) recorded 20.3% zinc, 8.8% lead, 1.0% copper, along with minor gold and silver values, including a sub-interval showing even higher grades. Another drillhole, FDD219, delivered a 17.5-metre intercept (12.8 metres estimated true width) with similar high-grade values, further emphasizing the promising mineralisation trends at this site. The program has also identified spectacular massive to semi-massive sulphide mineralisation in drillhole FDD222, where a visual estimate indicated a 3.3-metre interval with approximately 41% sphalerite, 17% galena, and 2% chalcopyrite – a result that, while visually encouraging, awaits confirmation from laboratory assays expected in the fourth quarter of FY25. The results have been bolstered by additional intersections, including those from the earlier FDD215 discovery, which continue to add confidence to the growing picture of a high-grade, mineable deposit. With the Federation West intercepts situated roughly 140 metres from the planned mine development area, the inventory appears well-positioned for future mining operations. The technical details provided in the announcement, including drilling orientations, estimated true widths, and precise geolocation data, indicate that the company’s exploration methodology follows industry best practices. The well-documented drill program has delineated a new lens, dubbed the Federation West Lens, which spans over 100 metres in the dip direction and nearly 50 metres along strike. The ongoing diamond drilling, now extended beyond the initial budget plan until the end of FY25, is set to further test the down-dip continuity and lateral extensions of the deposit, underscoring a commitment to building a robust mineral resource. Bullish sentiment centers on the high-grade intersections reported, the close proximity to existing development infrastructure, and the strategic extension of the drill program beyond initial plans. These factors reinforce the potential for a substantial, readily mineable resource that could add significant value and support future growth. Conversely, bearish sentiment may arise from the reliance on visual estimates for some intervals, which still require laboratory confirmation, and the geological complexity that could pose challenges in fully delineating the mineralised zones. For now, the strong initial results and planned further work continue to generate optimism among market participants.