One Bullion Secures Fully Funded August Drill Campaign Following Completion of Vumba Geophysics
One Bullion confirms the start of its funded drilling programme in Botswana despite facing tight liquidity conditions.
One Bullion Limited announced the completion of high-resolution geophysical surveys at its Vumba Gold Project and approximately 40% completion at the Maitengwe Gold Project. The company has executed a drilling contract with Mindea Exploration and Drilling Services for a maiden diamond drill program of approximately 3,000 meters. Drilling is scheduled to commence in August 2026, utilizing HQ-diameter core to maximize recovery and geological logging. The entire drill program is fully funded, requiring no additional capital. Additionally, the company granted 175,000 restricted share units (RSUs) to officers and directors.
One Bullion Limited (OBUL) has confirmed a previously announced fully funded drill campaign, first detailed in a July 2, 2026 release and initially planned in January 2026. The company confirmed full funding for the approximately 3,000-meter program, which aligns with prior guidance and does not alter the capital raise timeline or going concern status. No new strategic partnerships, financing, or material assay results were disclosed.
One Bullion Limited is a pre-revenue gold exploration company focused on three greenstone belt-hosted projects in Botswana: Vumba, Kraaipan, and Maitengwe. The company controls approximately 8,004 km² of prospective land.
The flagship Vumba Gold Project has seen historic drilling and surface sampling return high-grade gold intercepts, including 679 g/t Au in grab samples and historic drill intercepts up to 42.82 g/t Au over 2.5 meters. The company is in the exploration stage with no defined mineral resources or reserves. Recent activities include high-resolution airborne geophysics, artisanal sampling, and gravity-finish assays confirming high-grade mineralization.