One Bullion Completes First Hole of 2026 Drilling Program at Vumba Gold Project
One Bullion has completed its first drill hole at the Vumba project, with assay results expected in four to six weeks.
One Bullion Limited has completed its first diamond drill hole, VUDD017, of the 2026 program at the Vumba Gold Project in Botswana. The hole reached a total depth of 380 meters and targeted the Central–Makoba area to test the down-dip extension of an interpreted mineralized corridor.
Core logging identified silica–carbonate alteration, quartz–carbonate veining, and sulfides, provisionally identified as pyrite and arsenopyrite, within an amphibolite-dominated sequence. No assay results are reported at this time. The full 380-meter hole is being sampled at nominal one-meter intervals and submitted to ALS Geochemistry, with initial assays expected in four to six weeks.
Drilling of the second hole, VUDD018, has commenced. This activity is part of a fully financed, approximately 3,000-meter, ten-hole HQ diamond drilling campaign.
One Bullion Limited (OBUL) released a routine operational update following its August 2026 announcement to commence the 2026 drill program. The release contains only preliminary visual logging and no assay data, offering no immediate market-moving catalyst.
Progress remains incremental and aligns with prior guidance. Completing a single 380-meter hole does not materially alter the exploration thesis or valuation at this stage. The company’s stated objective to move from identifying mineralization to defining geometry and continuity is standard for pre-resource exploration and does not constitute a material positive surprise.
One Bullion Limited is a pre-revenue gold exploration company focused on district-scale land packages in Botswana. The company controls approximately 8,004 km² across three projects: Vumba, Maitengwe, and Kraaipan. Its flagship Vumba Gold Project is located on a greenstone belt similar to Zimbabwe's Blanket Gold Mine.
Exploration activities include surface sampling, trenching, RC drilling, and diamond drilling. No mineral resources or reserves have been defined to date. The company transitioned to a public listing via a reverse takeover with Imperial Ginseng Products Ltd. in November 2025.