Business
Start of Drilling at Eureka Gold & Copper Project
Ajax Resources PLC has commenced a fully funded and permitted drilling program of approximately 10 diamond drill holes totaling 1,500 metres at its Eureka Gold and Copper Project in Argentina, targeting shallow geochemical and IP anomalies, as well as a deeper IP chargeability anomaly that may indicate a sulphide-rich zone. This initiative marks the first drilling at the project, which has a 400-year history of copper and gold production, with historical surface samples showing up to 6.1% Cu and a non-NI 43-101 compliant gold resource of approximately 52,000 ounces. Preliminary assay results are anticipated by the end of the first quarter of 2026. Disclaimer*
About this update from Ajax Resources Plc
[{"type":"text","content":"\n\n12 January 2026\nAJAX RESOURCES PLC\n(\"Ajax\" or the \"Company\") \nStart of Drilling at Eureka Gold and Copper Project\n \nAjax [AQSE: AJAX], the natural resources investment company focused on high-impact opportunities in South America, is pleased to announce that drilling activities have now commenced at the Eureka Gold and Copper Project, located in the Province of Jujuy, Argentina.\n \nThe fully funded and permitted initial drilling programme (the \"Programme\") will comprise approximately 10 diamond drill holes for a total of approximately 1,500 metres of diamond drilling.\n \nThe Programme will target a series of shallow geochemical and induced polarisation (\"IP\") anomalies, as well as a deeper IP chargeability anomaly identified in a 2014 report authored by SRK Consulting. This deeper anomaly may represent the transition to a sulphide-rich zone within the mineralised system.\n \nDrilling is being conducted in close proximity to Mina Eureka, the historic copper and gold mine within the Eureka Project area. Mina Eureka has a documented production history spanning approximately 400 years, yet has never been drill tested, presenting a compelling and largely untested exploration opportunity.\n \nThe Eureka Project hosts multiple highly prospective anomalies previously identified by earlier operators. High-grade copper oxides have been confirmed at surface, with historical samples reporting grades of up to 6.1% Cu, and numerous samples exceeding 0.5% Cu across several historical exploration programmes.\n \nAjax is committed to conducting all operational activities in compliance with the highest environmental, health, safety, and community engagement standards. \n \nThe commencement of drilling activities represents a highly significant milestone for the Eureka Project, which has never been drilled in its approximately 400-year history of production, marking a key step towards determining its untapped copper and gold potential and advancing the Company's strategy of transforming historically productive yet underexplored assets into value-generating opportunities for shareholders.\n \nPreliminary assay results from the Programme are expected by the end of the first quarter of 2026.\nIppolito Ingo Cattaneo, Chief Executive Officer of Ajax, commented:\n\"...