Premier1 Consolidates Key Gold Ground in Western Australia's Yalgoo Belt
In a significant strategic move, the ambitious ASX-listed gold exploration company Premier1 has secured complete ownership of one of the final remaining gold packages within Western Australia's prolific Yalgoo greenstone belt. This acquisition positions the junior miner as the last independent player in a region increasingly dominated by multi-billion dollar producers, as the relentless consolidation of WA's gold districts continues to unfold.
A Strategic Position Between Mining Titans
Premier1 has locked up full control over 266 square kilometres of prime Yalgoo real estate, a development that represents the final piece in the company's evolving Western Australian gold narrative. The company now finds itself strategically positioned between two mining heavyweights: the $9.7 billion Ramelius Resources to the north and the $7.3 billion Capricorn Metals to the south.
This consolidation comes at a time when gold has surged to remarkable prices, reaching approximately US$5500 per ounce, equivalent to around A$7800. The deal grants Premier1 complete autonomy over exploration, development, and capital allocation decisions across what the company describes as a highly prospective gold portfolio.
Executive director Simon Phillips emphasised the importance of this milestone, stating that consolidating 100% ownership of Yalgoo simplifies the ownership structure and provides the company with full operational control. The tenure sits squarely between the two major players and shares the same geological signatures that have made this underexplored region so valuable to its neighbours.
High-Grade Prospects and Recent Successes
At the heart of Premier1's Yalgoo holdings is the flagship Wadgingarra gold prospect, which boasts a starter resource of 13,000 ounces grading an enticing 2.7 grams per tonne gold. This resource sits at the top end of the Yalgoo-Singleton greenstone belt, with high-grade gold starting at surface and remaining open along strike and at depth.
The company's maiden reverse-circulation drilling program in early 2025 marked the first substantial modern exploration at the ground since the 1980s. This program delivered impressive results, confirming the presence of gold and recording some of the strongest intercepts ever seen on the project.
At the Crescent prospect in the north, one drill hole returned a staggering 3-metre intercept running 31.5g/t gold from just 97 metres depth, including 1 metre at an exceptional 91.9g/t gold. This result confirms bonanza-grade potential along trend from historical high-grade zones.
Meanwhile, at the Carlisle prospect to the south, drilling extended mineralisation eastward with a 10-metre hit grading 3.1g/t gold from 19 metres, including 7 metres at 4.3g/t gold. A new zone west of Olive Queen also intersected mineralisation for the first time, with 1 metre at 1.5g/t gold within broader anomalous intervals.
Regional Context and Competitive Landscape
The Yalgoo district has long been recognised for its high-grade orogenic gold and copper potential. The project runs along strike from the world-class Golden Grove base metals operation, which has been successfully operating for more than 35 years, and from more recent discoveries at Capricorn Metals' Golden Range gold-antimony project to the south.
The competitive landscape in the region has intensified significantly in recent years. Ramelius Resources secured the majority of the northern flank through its mid-2025 acquisition of Spartan Resources for $2.4 billion, while Capricorn Metals has steadily expanded southward through a $188 million Warriedar-Golden Range acquisition and a landgrab of Tempest's ground in December of last year.
Expanding Exploration Horizons
Premier1 boasts approximately 25 kilometres of proven shear at Wadgingarra, where the shear trends under cover for kilometres to the south. This offers scope for regional aircore and magnetic surveys to chase previously overlooked district-scale extensions.
The company is particularly excited about testing its litany of litho-structural targets, including the fast-emerging Mt Kersey prospect in the east. Work at Mt Kersey has revealed a multi-kilometre pathfinder soil anomaly that coincides with double-digit gold grades from rock chips in what the company describes as a complex structural setting.
A Second Strategic Project
Premier1 is far from a single-project company. Its second major holding, the Abbotts North project, lies in one of Western Australia's most active gold regions along the Meekathara-Murchison greenstone belt. This project sits just 35 kilometres north of Meekatharra and represents a key second pillar to the company's portfolio.
Significantly, Abbotts North is located just 20 kilometres from ASX-darling New Murchison Gold's Crown Prince deposit, which has propelled that company's market capitalisation toward A$800 million after making a high-grade discovery just two years ago.
The Rochefort prospect at Abbotts North has emerged as a priority walk-up target, thanks to a 350-metre by 350-metre gold anomaly above a dolerite host rock. Heritage clearances are advancing for a planned regional aircore drill program and an ultrafine soil sampling campaign later in the year, both supported by existing government grants and drilling credits.
Renewed Corporate Drive and Leadership
The company's prime ground acquisitions are now paired with renewed corporate momentum. Experienced gold hand Simon Phillips has taken the reins, bringing a career spanning discovery to development. His promotion comes alongside a $650,000 capital raise to sustain exploration momentum into 2026.
Joining the revitalised company is chartered accountant Dale Hanna, who brings more than 20 years of experience across ASX-listed resource companies. His background spans the full spectrum of mining operations from early-stage exploration through to production.
Previous managing director Jason Froud, who helped steer Premier1 through its strategic pivot from lithium to gold, will remain on the board, transitioning to a non-executive director role.
Looking Forward to 2026
With shallow high-grade gold at Wadgingarra, walk-up targets at Mt Kersey, and numerous processing options in the region, Premier1's Yalgoo gold tilt appears to be only beginning. As major mining companies build empires to the north and south of both the company's projects, Premier1 and its expanding resources could soon add even more shine to the region's reputation.
For now, the gold junior - with a market capitalisation of just $6.5 million - is looking toward a fresh chapter of drilling in 2026, hopeful that it can transform its considerable potential into tangible reality. With renewed leadership, strategic ground positions, and promising exploration results, Premier1 appears well-positioned to capitalise on Western Australia's ongoing gold rush.
