During August 2025, Gorilla announced a MRE of 3.0Mt @ 3.6g/t Au for 350koz, within the first year of acquiring the project.
In August 2025, a revised Mineral Resource Estimate was completed as shown in the below table.
| Mulwarrie – Open Pit Resource (Au>=0.5g/t OP) | |||
|---|---|---|---|
| Category | Tonnage (Mt) | Au Grade (g/t) | Au Ounces |
| Indicated | 1.30 | 2.7 | 110,000 |
| Inferred | 0.85 | 4.0 | 110,000 |
| Total | 2.10 | 3.3 | 220,000 |
| Mulwarrie – Underground Resource (Au>=1.1g/t UG)– | |||
| Category | Tonnage (Mt) | Au Grade (g/t) | Au Ounces |
| Indicated | 0.34 | 3.1 | 3,300 |
| Inferred | 0.90 | 4.3 | 130,000 |
| Total | 940 | 4.3 | 130,000 |
| Combined | 3.00 | 3.6 | 350,000 |
In early 2026, assay results were received from a highly successful extensional step-out drilling campaign at Mulwarrie, with holes MWEX115 and MWEX111 returning significant high-grade intercepts of 3.4m at 9.0g/t Au and 0.7m @ 24.8g/t respectively, approximately 700m south-east of the existing MRE.
Achieving significant new high-grade results so far from the existing resource boundary reinforces the significant growth upside at Mulwarrie, which will be aggressively targeted by the Gorilla team during 2026.
At Mulwarrie a major north-west trending, steeply-dipping shear zone is developed in mafic and intermediate lithologies with gold mineralisation associated with this structural zone and the development of quartz veining, pyrrhotite and pyrite sulphides and biotite alteration, often at the margins of intermediate porphyries. This results in multiple high-grade free-milling gold-lodes, from surface to at least 450m vertically.
Initial metallurgical testwork for the project is positive, with recoveries averaging 93%.
