Canadian-listed One Bullion has disclosed previously unpublished historical drilling results from its Vumba Gold Project in northeastern Botswana, including a one-metre intersection grading 101.81 grammes per tonne of gold, as it reviews exploration data to identify targets for further drilling.
The results, released on 3 November 2026, include a 13-metre intersection grading 8.52 grammes per tonne of gold, within which the exceptionally high-grade one-metre section was recorded.
The company cautioned that the 101.81 grammes per tonne sample strongly influenced the overall grade of the 13-metre intersection.
Other historical results include 26 metres grading 2.60 grammes per tonne in drillhole SR033 and 28 metres grading 1.47 grammes per tonne in SR083.
One Bullion, which wholly owns three gold exploration projects in Botswana, said the results had not previously been disclosed in its news releases and are now being incorporated into its ongoing geological assessment of Vumba.
The company is combining historical drilling and trenching information with results from its 2026 exploration programme and airborne geophysical surveys to identify areas warranting further investigation.
One Bullion chief executive officer Adam Berk said the historical findings provided additional evidence of the project’s exploration potential.
“The historical results at Vumba provide an important addition to our understanding of the project and reinforce the exploration potential we see across the property,” Berk said.
“By bringing together previously undisclosed drilling and trenching results with our 2026 exploration data and airborne geophysics, we are building a more complete picture of the project’s gold mineralization and identifying opportunities to advance the highest-priority targets. We believe this integrated approach will help us deploy exploration capital more efficiently, focus future drilling on the most prospective areas and continue building value for shareholders.”
Historical diamond drilling also returned one-metre intersections grading 20.90 grammes per tonne and 15.25 grammes per tonne of gold in holes VUDD005 and VUDD016, respectively.
Surface trenching provided further evidence of gold mineralisation, with trench VUT004 returning 3.5 metres grading 18.79 grammes per tonne, including 2.5 metres grading 26.12 grammes per tonne.
The company said the drilling and trenching results demonstrate gold mineralisation at several tested locations, although the true widths and continuity of the mineralised zones have not yet been established.
One Bullion has temporarily paused drilling at Vumba during November while it completes geological logging, sampling, laboratory analysis and verification of drill core collected during its latest exploration campaign.
The company commenced diamond drilling in August 2026, focusing on the Central and North Main areas of the project.
Two diamond drillholes, VUDD017 and VUDD018, were completed at Central, while VUDD019 tested North Main to a downhole depth of 315 metres.
The current technical review includes drill core from VUDD018 through VUDD020, with the findings expected to guide the selection of further drilling targets.
One Bullion is considering reverse circulation drilling during the next exploration phase, although the programme’s scope and timing will depend on the outcome of the geological review.
The company said analytical results from its 2026 drilling campaign would be reported separately once the necessary technical assessments had been completed.
The historical results announced on 3 November therefore do not represent new assay results from the current drilling programme.
Exploration at Vumba dates back to 2005, when prospecting and sampling began around historical gold workings.
Between 2006 and 2007, exploration teams collected 7,464 soil samples and excavated 33 trenches to investigate potential gold-bearing structures.
This was followed by 110 reverse circulation drillholes covering 6,749 metres and nine diamond drillholes totalling 1,180 metres between 2006 and 2009.
Further exploration undertaken by One Bullion included 16 diamond drillholes covering 3,589.6 metres in 2022.
A high-resolution airborne geophysical survey completed in July 2026 has since provided additional information on geological structures, rock contacts and potential exploration targets.
The company is integrating these findings with historical drilling information across four interpretation areas identified as North, Marula, Makoba and the southern Somerset/New Zone grouping.
These areas represent geological targets requiring further investigation rather than confirmed deposits. The company has yet to establish whether mineralisation continues within or between the identified areas.
The latest geological assessment is intended to determine the orientation of mineralised structures, identify higher-grade zones and establish whether gold mineralisation extends beyond previously drilled locations.
Vumba lies within the greenstone terrain of the southern Zimbabwe Craton, which includes several established gold mining districts in Botswana and Zimbabwe.
The broader region includes Botswana’s Tati greenstone belt, home to the Mupane, Golden Eagle, Map Nora and Signal Hill gold deposits.
One Bullion referred to Mupane’s historical mineral inventory, which included 235,800 ounces of measured and indicated gold resources and 190,700 ounces of inferred resources as at 31 December 2021.
However, the company cautioned that mineralisation and economic results at neighbouring deposits do not necessarily indicate similar conditions or economic potential at Vumba.
The historical drilling and trenching results also do not constitute a mineral resource estimate or an economic assessment of the project.
Further exploration will be required to establish the extent, continuity and potential economic significance of gold mineralisation at Vumba.
One Bullion said the integration of historical results, new drilling information and airborne geophysical data would help determine the location and sequence of its next exploration activities.
