Australasian Metals Limited has announced encouraging developments at its May Queen Gold Project following its recent geophysical survey. The company completed an Induced Polarization (IP) survey incorporating both Gradient Array (GAIP) and Dipole-Dipole (DDIP) configurations in May 2025. The survey highlighted a highly significant chargeability anomaly with a 400–500 meter strike extent, indicating that the target may extend to considerable depths. This feature is interpreted as potentially representing sulphide mineralisation and/or associated alteration, reinforcing earlier diamond drilling results that hinted at a gold-copper porphyry system within the project area. The survey results are supported by detailed GAIP resistivity data, which recorded generally high values—with the lowest around 300 Ωm—and a predominant NNW-NS trend across the survey blocks. DDIP data further refined the interpretation, notably on Line 7128150N, where a discrete, sub-vertical, highly chargeable zone (exceeding 80 mV/V) and low resistivity (<40 Ωm) were identified. In the northern part of the grid, additional NS trending chargeability highs were observed on DDIP Line 7128950N, albeit recorded at lower values (<20 mV/V), suggesting a more subdued near-surface mineralisation. The company is moving forward with field mapping, ground sampling, and targeted ground inspection to validate these anomalies. Two drillholes—PH01 targeting the discrete high chargeability zone on DDIP Line 7128150N and PH02 aimed at a flat-lying target on DDIP Line 7128950N—are proposed to further assess the potential of these new targets before any drilling program commences. The survey builds on Australasian Metals Limited’s earlier diamond drilling program from 2021, which returned promising gold intercepts, further enhancing investor confidence in the prospect’s exploration potential. Sentiment among analysts may be split. On the bullish side, the efficient, under-budget geophysical program and the identification of well-defined drill targets provide a positive signal for the project’s next phase and support the possibility of a significant gold-copper porphyry system. However, from a more cautious perspective, some may point out that the results are still at an early exploration stage and that forthcoming drilling and additional field work are required to confirm the targets’ economic viability. Overall, the company’s latest announcement could be viewed as a positive step forward for potential investors willing to embrace early-stage exploration risks.