# ACS: Drilling Campaign Underway at Magnetite Range Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/acs-drilling-campaign-underway-at-magnetite-range-project--09dde63a-3ca7-48f0-a7fe-b528543c3c4c Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154698 Publisher: asx Original announcement: 2026-10-20T05:33:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T07:07:32.582Z Atlas analysis updated: 2026-10-20T07:07:32.582Z - Company: Accent Resources NL - Ticker: ACS - Exchange: ASX - Region: Western Australia - Primary commodity: Iron ore - Secondary commodities: Gold - Document categories: Other, Resource update - Extracted: 2026-10-20 07:07:33 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Accent Resources NL has commenced an 11,568m RC drilling campaign at the Magnetite Range Project in Western Australia. The program includes 8,568m of magnetite infill drilling to upgrade Inferred resources to Indicated, alongside 3,000m of gold exploration drilling near historical workings. Reasoning: The announcement details the commencement of a significant drilling campaign aimed at resource conversion and gold exploration, providing operational progress. - Positive factor: Active drilling campaign underway to upgrade resource confidence - Positive factor: Dual-commodity potential \(magnetite and gold\) being tested - Positive factor: Existing large-scale magnetite resource \(523.3Mt\) Facts used in scoring: 4 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides a summary of the current Mineral Resource for the Magnetite Range Project. Evidence · table > Magnetite Range Mineral Resource Summary **Infill Drilling** Polarity: neutral Story-specific tag Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The campaign includes 8,568m of magnetite infill drilling to improve geological confidence. Evidence · text > 8,568m magnetite infill drilling ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/acs-drilling-campaign-underway-at-magnetite-range-project--09dde63a-3ca7-48f0-a7fe-b528543c3c4c#fact-resource-facts-0) Magnetite Range Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Magnetite Range Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: ACS #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:2a34c36730a2aa425d2f - Deposit or zone: Magnetite Range - Material type: sulphide - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 21900000 - Grade: 35 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-02-23T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Historical measured resource component restated from February 2024 announcement. Evidence · table > 21.9 Context: 21.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/acs-drilling-campaign-underway-at-magnetite-range-project--09dde63a-3ca7-48f0-a7fe-b528543c3c4c#fact-resource-facts-1) Magnetite Range Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Magnetite Range Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: ACS #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:2a34c36730a2aa425d2f - Deposit or zone: Magnetite Range - Material type: sulphide - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 21900000 - Grade: 32.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-02-23T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Historical measured resource component restated from February 2024 announcement. Evidence · table > 32.5 Context: 21.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/acs-drilling-campaign-underway-at-magnetite-range-project--09dde63a-3ca7-48f0-a7fe-b528543c3c4c#fact-resource-facts-2) Magnetite Range Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Magnetite Range Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: ACS #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:3ac66c951bc8737877f2 - Deposit or zone: Magnetite Range - Material type: sulphide - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 84400000 - Grade: 31.6 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-02-23T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Historical indicated resource component restated from February 2024 announcement. Evidence · table > 31.6 Context: 84.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/acs-drilling-campaign-underway-at-magnetite-range-project--09dde63a-3ca7-48f0-a7fe-b528543c3c4c#fact-resource-facts-3) Magnetite Range Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Magnetite Range Project - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: ACS #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:c4957ba22fd98e7a6db4 - Deposit or zone: Magnetite Range - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 417000000 - Grade: 31.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-02-23T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Historical inferred resource component restated from February 2024 announcement. Evidence · table > 31.2 Context: 417.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.