Business · Energy & Commodities · 11 hrs ago
Moonlight targets up to 662,000 ounces at Queensland gold project
Moonlight Resources has outlined a conceptual target of up to 662,000 ounces of gold at its Clermont project in central Queensland.
The target covers Leo Grande, Goldfinger and Petersens, with an estimated 443,000 to 662,000 ounces across all three.
The company is drilling to test whether the gold potential can be confirmed through a 13,000-metre program, which is underway.
Leo Grande accounts for most of the estimated ounces, while Goldfinger and Petersens may contain smaller but higher-grade zones.
The target is not a confirmed gold resource, and more work is needed to establish whether the deposits can be measured and mined economically.
Clermont lies near the historic mining town of the same name, in a region with a long history of gold production.
Moonlight plans to use drilling results to work towards its first resource estimate; the company expects the broader program to finish by the second quarter of 2027.
Moonlight Resources has outlined a conceptual gold exploration target of 443,000 to 662,000 ounces at its Clermont project in central Queensland.
The target covers the Leo Grande, Goldfinger and Petersens prospects and is based on 16.2 million to 19.8 million tonnes grading 0.94 to 1.15 grams per tonne gold.
The company has started a 13,000-metre reverse circulation drilling program to test the target and support plans for an initial gold resource.
Leo Grande accounts for most of the target’s potential ounces, while Goldfinger and Petersens are described as offering higher-grade potential.
Moonlight says the target is conceptual and more work is needed to determine whether an economically viable gold resource can be identified and quantified.
- Who
- Moonlight Resources, which holds the Clermont project.
- What
- The company outlined a conceptual target of 443,000 to 662,000 ounces of gold and began drilling to test it.
- When
- The target and drilling program were reported on October 14, 2026; drilling is underway.
- Where
- The Clermont project in central Queensland, across the Leo Grande, Goldfinger and Petersens prospects.
- Why
- To test the interpreted gold mineralisation and support the company’s plans for an initial gold resource.
This story does not have two clearly opposing sides.
Noranda’s exploration identified gold associated with the Central Zone shear at Goldfinger.
Historical work at Petersens included 24 reverse circulation holes totalling 959 metres.
Moonlight launched a four-hole diamond drilling program at Leo Grande.
Moonlight reported the exploration target and said its 13,000-metre reverse circulation drilling program was underway.
Moonlight expects to complete the broader drilling program.
- Overall target
- 443,000–662,000 ounces of gold
- Target area and grade
- 16.2–19.8 million tonnes at 0.94–1.15 grams per tonne
- Drilling program
- 13,000 metres of reverse circulation drilling
- Leo Grande target
- 281,000–420,000 ounces
- Goldfinger target
- 95,000–142,000 ounces
- Petersens target
- 67,000–100,000 ounces
2 sources
What people are saying
This Exploration Target puts some significant numbers around exactly what excites us about Clermont – the combination of potential scale, gold mineralisation relatively close to surface and the opportunity to test extensions that remain open.
We’ve brought together the historical and recent drilling information at Leo Grande, Goldfinger and Petersens, which gives us a much clearer picture of the potential opportunity and where we intend to focus our efforts.