Dynamic Metals Limited has announced the completion of its second phase of reverse circulation drilling at the Cognac West gold prospect, located within the company’s flagship Widgiemooltha Project in Western Australia. The exploration campaign, which involved 19 drill holes aimed at extending encouraging mineralisation identified in the initial phase, targeted two main anomalies: Anomaly A, where a gold-bearing quartz vein has been traced and sampled at surface, and Anomaly B, known for its volcaniclastics hosting anomalous gold results. In Phase 2, the company recorded notable intercepts from its earlier drilling efforts, including an 8-meter section averaging 2.87 grams per tonne of gold—with a sub-interval of 4 meters at 5.37 grams per tonne—and broader mineralisation over 44 meters at 0.33 grams per tonne. Additional results include 24 meters at 0.33 grams per tonne. These technical outcomes corroborate earlier high-grade results and have been instrumental in refining Dynamic Metals Limited’s geological model of the Cognac West prospect. Assay results for this phase are expected to be released in early July 2025. The drilling program focused on testing both the lateral and vertical extents of the mineralised zones, with specific attention to the down-dip extension of the quartz vein at Anomaly A and potential structural continuities at Anomaly B. The strategic targeting of up to 75 planned drill holes across the prospect reflects the company’s commitment to delineating a more significant gold system and enhancing regional exploration potential. This drilling effort builds on a rich history of exploration in the region, where historic high-grade intercepts and recent soil sampling results have pointed to further opportunities. From a bullish perspective, the drilling results reinforce confidence in the project’s potential due to the high-grade intercepts and the systematic approach to testing lateral and depth extensions. Investors may view the upcoming assay results as a catalyst that could further validate the prospect’s development path, particularly given the promising intercepts in fresh rock and the refined geological model now in place. Conversely, the bearish sentiment centers on the inherent risks of early-stage exploration. With assay outcomes still pending and the project in a relatively nascent phase, there is uncertainty regarding the continuity and economic viability of the mineralisation. Additionally, the company’s modest market capitalization and capital structure may expose it to market volatility and further exploration risks. Overall, the carefully executed Phase 2 drilling at Cognac West, coupled with detailed technical indicators and an evolving geological model, positions Dynamic Metals Limited well for the next stage of its exploration program, as the industry awaits further assay confirmation later this month.