Australian-listed Jacaranda Natural Resources has commenced diamond drilling at its Globe Gold Project in Botswana, targeting a largely unexplored two-kilometre gold trend following its A$8 million initial public offering and listing on the Australian Securities Exchange on 28 October 2026.
The exploration programme marks one of the company’s first major operational activities since listing, with drilling intended to investigate gold mineralisation along a trend where historical exploration covered only approximately 200 metres.
According to a report published on 4 November 2026, previous rock-chip sampling at Globe returned gold grades of up to 26.5 grammes per tonne, providing the company with targets for its maiden drilling campaign.
The historical results suggest the presence of gold mineralisation, although further drilling will be required to establish its extent, continuity and potential economic significance.
Jacaranda is seeking to determine whether mineralisation identified through earlier exploration extends along the largely untested sections of the two-kilometre trend.
The company raised A$8 million through its initial public offering before making its ASX debut on 28 October, providing funding to begin exploration across its Botswana portfolio.
The first phase involves eight diamond drillholes covering approximately 540 metres, with the programme expected to take four weeks. Drilling is being undertaken by Sunhour Drilling, a division of Jacaranda’s Botswana partner, Falcon Metal Resources Botswana.
Four holes will investigate mineralisation beneath the historical Globe Shaft, while another four will follow up previous reverse circulation drilling intersections, including three metres grading 5.17 grammes per tonne of gold from a depth of nine metres.
The company said drilling approvals are in place, with the programme designed to establish the orientation and continuity of gold-bearing structures and investigate extensions at depth and along strike.
Jacaranda chief executive officer Craig Hatch said commencing drilling shortly after the company’s stock exchange debut was consistent with its commitments to investors.
“Having the rig turning at Globe within days of listing is exactly what we told investors we would do,” Hatch said in the company’s drilling announcement published on 30 October 2026.
“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.”
The Globe project is situated within Botswana’s Tati Greenstone Belt, near Francistown, an area with a history of gold exploration and mining.
The company said approximately 1.8 kilometres of the identified gold-in-soil anomaly remains untested by drilling, leaving considerable ground for further investigation.
Drill core collected during the current campaign will be logged, sampled and submitted to SGS Randfontein for laboratory analysis. The findings will inform planned geophysical surveys and the design of a larger follow-up drilling programme.
Following completion of the Globe programme, Jacaranda intends to move the drilling rig to its Motloutse Copper-Nickel-Gold Project, where maiden drilling is planned between December 2026 and February 2027, subject to environmental and statutory approvals.
The company reported on 2 November that rock-chip sampling at Motloutse had returned copper grades of up to 2%, with 12 of the 23 samples exceeding 1% copper.
The sampling covered six historical pits and a newly identified copper-bearing trend at Tlou, where mineralisation has been traced over approximately 50 metres.
Jacaranda’s Botswana exploration portfolio also includes the Nkwe Copper-Nickel Project, where reconnaissance mapping and sampling are planned.
The company expects its exploration activities in Botswana and Australia to form part of a 24-month programme funded by the proceeds of its stock exchange listing.
