One Bullion Completes Second Hole of 2026 Drilling Program at Vumba Gold Project
VUDD018 Completed as an Oblique Structural Test at Central–Makoba; Preliminary Logging Identifies Repeated Silica–Carbonate Alteration, Quartz–Carbonate Veining and Sulfides
VUDD019 Underway as the Company Advances Approximately 3,000-Meter 2026 Program
TORONTO, Oct. 01, 2026 (GLOBE NEWSWIRE) -- One Bullion Ltd. (“One Bullion” or the “Company”) (TSXV: OBUL), a gold exploration company holding complete ownership of three highly prospective exploration projects in Botswana, today announced the completion of diamond drill hole VUDD018 at its wholly owned Vumba Gold Project in northeastern Botswana. VUDD018 marks the completion of the second hole of the Company’s approximately 3,000-meter 2026 diamond drilling program, with drilling now underway on the third hole, VUDD019.
VUDD018 targeted the same Central–Makoba structure (VGT-01) as VUDD017, but was drilled as an oblique-angled hole, to cross the structure from a different direction. The goal was to test structural splays and intersections, vein stacking and possible controls on shoot geometry, while providing a second oriented-core view of the same system to build into the three-dimensional model.
Highlights
- VUDD018 has been completed as the second hole of the 2026 program. The hole was designed as a 350-meter HQ drill hole, as an oblique structural test from 535,894 mE / 7,712,640 mN using 330° true / −60° planning geometry. Total depth of the hole was 350.85m.
- These observations are preliminary visual descriptions and do not establish gold grade, mineralized widths or economic significance.
- Preliminary lithological logging completed to date records an amphibolite-dominated sequence that is variably schistose, foliated and banded, with local carbonaceous, quartz-rich and garnetiferous intervals. Oxidized near-surface amphibolite passes into fresh rock at approximately 9.7 meters downhole.
- Alteration logging completed to date records repeated intervals of silicification and carbonate alteration, locally with chlorite, across multiple intervals. Sulfide logging identified arsenopyrite with lesser pyrite in disseminated, banded and vein- or veinlet occurrences.
- Quartz and quartz–carbonate veining is common in the logged portion of the hole, including irregular and folded vein sets and local brecciation.
The drill has been moved to VUDD019 and has commenced testing a deeper northern portion of Central–Makoba on the property. Drillhole was oriented at 267° true north and −69° dip, with a planned total depth of 425 meters. This hole is designed to test whether the deeper hydrothermal and structural corridor observed in VUDD017 continues northward and at depth.
“VUDD018 was deliberately drilled across the Target (VGT-01) from a different angle than VUDD017, and the preliminary logging is giving us an important second structural view of the system,” said Adam Berk, Chief Executive Officer of One Bullion. “With VUDD019 now underway as a deeper northern test, we are integrating the alteration, quartz–carbonate veining and sulfide styles observed in VUDD018 into our three-dimensional model, and laboratory assays remain essential to determining whether these visual hydrothermal features carry meaningful gold.”
No assay results for VUDD018 are available. The geological descriptions in this release are based on visual core logging and do not establish gold grade, mineralized widths, or economic mineralization. Logged interval lengths are downhole lengths and true widths are unknown.
VUDD018 — Central–Makoba Oblique Structural Hole
VUDD018 was designed to complement VUDD017 by crossing the Central–Makoba structural package obliquely. Logging is still underway, and the observations below therefore summarize the current state of the geological record rather than the final full-hole log.
| Current Logged Depth / Interval | Preliminary Observation |
| 0.0–9.7 m | Near-surface soil and oxidized/weathered amphibolitic rock, including fracture-controlled iron-oxide staining and local strong silicification. |
| 9.7–276.5 m logged to date | Predominantly fresh amphibolite, commonly schistose, foliated or banded, with local carbonaceous, quartz-rich and garnetiferous intervals. |
| Alteration logged to approximately 217 m | Repeated silica and carbonate alteration, locally with chlorite; styles include pervasive, banded, vein-controlled and fracture-controlled alteration, with locally strong to very strong intensity. |
| Sulfides logged to 203 m | Visually identified arsenopyrite is the dominant logged sulfide with lesser pyrite, occurring at multiple intervals in disseminated, banded and vein/veinlet-controlled styles. |
| Veining logged to 187 m | Quartz, calcite and quartz–carbonate veins and veinlets are common. Local intervals show irregular or folded vein geometry and local brecciation. |
The occurrence of sulfides, alteration and veining are not continuous across the intervals summarized above and should not be interpreted as a mineralized intercept. Their significance will be evaluated only after laboratory results, QA/QC review and geological/structural integration.
Sampling, Analysis and QA/QC
Core logging, photography, cutting and sampling are progressing at the Company’s secure core facility. The Company plans to sample the entire VUDD018 hole rather than only visibly altered or sulfide-bearing intervals. Half-core samples will be cut with a diamond saw at nominal one-meter intervals, adjusted to lithological, alteration and mineralogical contacts, with the remaining half-core retained for reference. Drill core will be sampled at nominal one-meter intervals, adjusted to geological contacts, with certified reference materials, blanks and duplicates included in the quality assurance and quality control (“QA/QC”) stream for submission to ALS Laboratories in South Africa.
Certified reference materials, blanks and duplicates will be inserted as part of the Company’s QA/QC program. Samples are planned for transport under chain-of-custody procedures to ALS Laboratories in South Africa, an ISO/IEC 17025-accredited laboratory independent of the Company. Gold analysis is planned by 30-gram fire assay with atomic absorption finish (Au-AA25), together with multi-element analysis by four-acid digestion and ICP-AES (ME-ICP61a). Samples returning more than 10 g/t gold are planned for gravimetric-finish re-assay (Au-GRA21), with additional checks as determined by the technical team and laboratory.
Structural measurements are being collected where reliable core orientation is available. Geological, sampling and survey records will be reconciled in the Company database, and assay results and associated QA/QC will be reviewed before public disclosure.
2026 Drilling Program and Next Steps
The approximately 3,000-meter HQ diamond program is focused on priority structural corridors at Vumba and is being executed by Mindea Exploration and Drilling Services (Pty) Ltd. The program is managed by Joe Van Wyk, Vice President, Exploration, and follows a decision-gated approach in which subsequent hole locations and orientations are refined as geological, structural, survey and assay information becomes available.
VUDD019 is now underway at Central–Makoba as a deeper northern test. The hole is designed to test continuity beneath and north of the deeper alteration/sulfidation packages observed in VUDD017 and to integrate the oblique structural information being developed from VUDD018. The approved geometry is 267° true / −69°, with a planned EOH of 425 meters. The Company will continue updating the three-dimensional model as VUDD018 logging is completed and VUDD019 drilling advances.
Cautionary Note Regarding Visual Observations
Visual identification of alteration, sulfides and quartz–carbonate veins is preliminary and is not a substitute for laboratory analysis. These observations do not establish gold grade, gold-bearing interval lengths, continuity or economic significance. No gold assays from VUDD018 are reported in this release. Analytical results will be disclosed following receipt, compilation, QA/QC review and verification.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Rory Kutluoglu, P.Geo., a “Qualified Person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, who is independent of One Bullion.
The Company also announces today that it has amended its previously announced consulting agreement with SLD Capital Corp. ("SLD") which formerly provided for the issuance to SLD of 83,333 common shares of the Company ("Common Shares") per month over a six month term from June 1, 2026 to December 1, 2026. Pursuant to the terms of the revised agreement, the parties have agreed that SLD will instead be paid an aggregate fee of US$25,000 per month for the six month term, which shall be satisfied by the issuance of Common Shares at prevailing market prices on a monthly basis. In this regard, the Company will issue an aggregate of 281,268 Common Shares for the months of June, July and August, 2026 (or 93,756 Common Shares per month). All Common Shares issuable under the agreement will be subject to a statutory hold period of four months and one day following the date of issuance thereof. All future issuances of Common Shares remain subject to the approval of the TSX Venture Exchange.
About One Bullion
One Bullion Ltd. (TSXV: OBUL) is a Toronto-based gold exploration company focused on advancing high-quality gold assets in Botswana, one of Africa’s most stable and mining-friendly jurisdictions. Established in 2018, the Company controls approximately 8,004 km² of prospective land across three greenstone belt-hosted gold projects, including Vumba, Kraaipan, and Maitengwe. One Bullion’s strategy centers on disciplined, data-driven exploration combining modern geological methods with advanced targeting to identify and test high-priority gold targets while maintaining a commitment to environmental stewardship, community engagement, and long-term value creation for stakeholders.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and U.S. securities laws. Forward-looking information includes statements concerning the scope, sequencing and timing of the Company’s exploration program; completion of core logging and sampling; submission to the laboratory; anticipated analytical methods and assay turnaround; continued drilling of VUDD019 and subsequent holes; integration of geological, structural, survey and assay data into the three-dimensional model; and future targeting and drill-hole locations and orientations.
This information is based on management’s current expectations and assumptions, including the availability of funding, personnel, contractors and laboratory capacity; continued access to the projects and maintenance of required permits; the ability to complete sampling and drilling safely; and the suitability of the available geological data for ongoing interpretation. Forward-looking information is subject to risks and uncertainties, including changes in geological interpretations, assay results that do not support visual observations, variable core recovery and sample representativity, drilling or equipment problems, weather and access constraints, permitting delays, laboratory backlogs, additional QA/QC or verification requirements, funding availability and risks associated with operations in Botswana.
Actual results, work programs, costs and timelines may differ materially from those expressed or implied. There is no assurance that further drilling will identify economic mineralization or that the current geological interpretation will be confirmed. Readers should not place undue reliance on forward-looking information. Except as required by applicable law, the Company undertakes no obligation to update or revise it as a result of new information, future events or otherwise.
Cautionary Note Regarding United States Securities Laws
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in a jurisdiction in which such offer, solicitation or sale would be unlawful. The Company’s securities have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, as defined in Regulation S under the U.S. Securities Act, unless an exemption from registration is available.
Contact Information:
Adam Berk, Chief Executive Officer
OneBullion@KCSA.com
Investor Contact:
KCSA Strategic Communications
Jack Perkins or Valter Pinto
T: 212-896-1254
OneBullion@KCSA.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
