Jacaranda gets the drill bit turning at Botswana gold project

• Diamond drilling started within days of JRL’s ASX debut
• Eight holes will test gold mineralisation beneath old workings and historical drill intersections
• About 1.8km of a 2km gold-in-soil anomaly remains undrilled

Special Report: Jacaranda Natural Resources has wasted no time getting the drill bit turning to test extensions of gold mineralisation at its Globe project in Botswana, just days after its ASX debut.

The first phase consists of eight diamond holes totalling about 540m and is expected to take about four weeks.

Jacaranda Natural Resources (ASX:JRL) says the rig arrived on October 29 and drilling began that day, with all approvals for the Globe program already in place.

“Having the rig turning at Globe within days of listing is exactly what we told investors we would do,” chief executive officer Craig Hatch said.

“We have focused phase one beneath the high-grade gold at surface and in shallow historical drilling, and diamond core will give our technical team the structural data to understand what controls it.”

Drilling beneath the old workings

The Globe gold project sits in Botswana’s Tati Greenstone Belt, where historical reverse circulation drilling returned 3m at 5.17g/t gold from 9m and 3m at 1.3g/t gold from 15m.

Four holes will test the Globe Shaft across two fences about 30m apart along strike.

Each fence has two holes planned to intersect the interpreted gold-bearing structure at about 30m and 60m vertical depth.

One fence will probe beneath the historical shaft, while the other will test its western extension beyond historical stoping.

The other four holes will follow up the historical drilling results.

Near each historical drillhole, one hole will test lateral continuity from about 5m along strike and a second will target the interpreted structure about 30m vertically below the original intersection.

Rock-chip sampling at the Globe Shaft returned up to 26.5g/t gold, while more recent grab sampling returned up to 17.9g/t gold.

While gold fell from its January record of US$5,595/oz to about US$4,000/oz, a Reuters poll of 30 analysts and traders put the median 2026 gold forecast at US$4,495/oz.

Analysts expect central bank buying and physical demand to support prices.

A long target still to test

Jacaranda says drilling has tested about 200m of a 2km gold-in-soil anomaly, leaving roughly 1.8km undrilled.

The anomaly remains open in both directions.

Drilling will provide geological, structural and assay information to refine JRL’s model.

Results will help shape planned aeromagnetic and induced polarisation surveys and a larger follow-up program.

Core will be logged, sampled and sent to SGS Randfontein for laboratory analysis.

This article was developed in collaboration with Jacaranda Natural Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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