eMetals Limited has reported promising soil sampling results from its Busia Gold Project in central Uganda’s Busia Greenstone Belt. The exploration, conducted over a 2‐square-kilometre area within a 32‐square-kilometre license, identified a 300‐meter-wide anomaly in gold-in-soil values along a prominent banded iron formation (BIF). With individual samples returning values exceeding 100 parts per billion and reaching up to 187 parts per billion, the findings point to gold mineralisation that is structurally controlled along north–south trends. The sampling campaign, which involved 133 soil samples collected from both the BIF and adjacent metavolcanics, underscores the geological potential of the area in a region already known for significant gold deposits. The project’s setting within the Archean Nyanzian-Kavirondian System, characterized by metamorphosed volcano-sedimentary sequences and intense deformation, offers a fertile environment for orogenic gold mineralisation. Historical comparison with nearby large-scale deposits, such as those held by Shanta Gold and Wagagai Mining, further underpins the strategic interest in the Busia Greenstone Belt. eMetals Limited noted that initial sampling was limited by restricted land access, but negotiations are underway to secure full access, which will enable a more detailed 50m x 200m grid sampling program and potential trenching along the anomalous zone. The technical indicators from the soil sampling are encouraging, with the anomaly coinciding directly with the underlying banded iron formation. However, these early results remain indicative and are part of an initial phase of exploration that will require further systematic infill sampling and trenching to better define the mineralised zone. The company has also completed all necessary administrative work and anticipates that the license application will be granted within the September quarter, setting the stage for expanded field activities. Market sentiment on this development could be divided. On one hand, the encouraging assay values and structural controls suggest considerable upside potential, supporting a bullish outlook for investors focused on junior exploration companies with assets in prolific geological provinces. Conversely, the early stage of the project, limitations imposed by prior access issues, and the need for further detailed exploration mean that uncertainties remain, which may lead to a cautious or bearish view among risk-averse investors. Overall, the latest announcement from eMetals Limited highlights significant exploratory progress at the Busia Gold Project, marking an important step in the company’s pursuit of unlocking value from its African asset portfolio. Investors will be watching closely as further exploration efforts are implemented and additional geological data emerge.