G50 Announces Positive Phase 2 Metallurgical Test Results from Its Golconda Project in Arizona Show Low-Cost Processing Lifts Gallium Grades up to 2X With Gold and Silver as Potential Co-Products

Rhea-AI Summary

G50 (ASX:G50, OTCQX:GFTYF) reported positive Phase 2 metallurgical test results from the surface oxide zone at the Little Jimmy area of its Golconda gallium project in northwest Arizona. Low-cost processing testwork indicates the potential to lift gallium grades by up to 2X, with gold and silver identified as potential co-products.

The proof-of-concept program evaluated metallurgical characteristics across four distinct mineralized zones and confirmed a defined muscovite mineral host with a repeatable concentration pathway and a conceptual route to generate gallium from run-of-mine feed. According to G50, the Phase 2 results are consistent with April testwork on unoxidized samples and continue to support potential future development of a strategic domestic gallium supply within a larger precious metals project.

The company highlights gallium’s role in advanced semiconductors, defense systems and clean-energy technologies, noting that the U.S. currently has no primary gallium production and relies on imports. G50 is advancing critical minerals and precious metals projects at Golconda in Arizona and White Caps, a historic gold mine with identified gold and antimony mineralization, in Nevada.

Positive

• Phase 2 metallurgical tests indicate potential 2X gallium grade uplift via low-cost processing at Golconda
• Gold and silver identified as potential co-products alongside gallium at the Little Jimmy oxide zone
• Defined muscovite host and repeatable concentration pathway support a conceptual route from run-of-mine feed to gallium

Negative

• None.

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PHOENIX, July 15, 2026 /PRNewswire/ -- G50 Corp. Limited (ASX: G50; OTCQX: GFTYF) announced that low-cost processing has the potential to increase Gallium grades 2X at the company's Golconda project with gold and silver as potential co-products. The announcement follows positive Phase 2 metallurgical test results based on samples taken from the surface oxide zone at the Little Jimmy area of the project, located in Arizona. The work was proof of concept in nature focused on understanding the metallurgical characteristics of four distinct mineralized zones.

"This is a huge leap forward in de-risking the gallium processing pathway at Golconda," said Mark Wallace, managing director and CEO of the company. "We have a defined muscovite mineral host with a repeatable concentration pathway and a conceptual path to generating gallium from run of mine feed," he confirmed, adding that to his knowledge the Golconda project in Arizona is one of the first to potentially help supply the gallium needs of the U.S.

Wallace noted that results of this testing are consistent with earlier testwork in April of this year on unoxidized samples that continue to support potential future development of a strategic domestic gallium supply, integrated within a larger precious metals project.

Specific details on the results can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03111100-2A1684460&v=undefined.

Gallium is an important critical mineral used in advanced semiconductors, defense systems and clean-energy technologies. The United States currently does not produce primary gallium and must rely on imports. Because of this importance to the US and recognized supply chain vulnerabilities, domestic extraction and recycling initiatives have increased, as U.S. government recently commenced funding for major domestic extraction and recycling initiatives.

G50 (https://www.g50corp.com) is an exploration company progressing critical minerals and precious metals projects in Arizona and Nevada. The Golconda Project is located in Northwest Arizona, a well-established mining jurisdiction with a long history of base and precious metals production. In Nevada, the company's White Caps Project is a historical gold mine that was previously drilled by Freeport McMoRan between 1982 to 1984. Exploration has identified gold and antimony mineralization.

View original content:https://www.prnewswire.com/news-releases/g50-announces-positive-phase-2-metallurgical-test-results-from-its-golconda-project-in-arizona-show-low-cost-processing-lifts-gallium-grades-up-to-2x-with-gold-and-silver-as-potential-co-products-302826480.html

SOURCE G50 Corp Limited

FAQ

What did G50 (OTCQX:GFTYF) announce about its Phase 2 metallurgical tests at the Golconda project on July 15, 2026?

G50 announced positive Phase 2 metallurgical test results at its Golconda project, showing low-cost processing could potentially double gallium grades. According to G50, the proof-of-concept work on surface oxide samples also indicates gold and silver may be recovered as potential co-products from the same mineralized zones.

How much could gallium grades increase at G50's Golconda project according to recent Phase 2 test results?

According to G50, low-cost processing has the potential to increase gallium grades by up to 2X at Golconda. This uplift is based on Phase 2 metallurgical tests on surface oxide samples from the Little Jimmy area, focused on understanding four distinct mineralized zones and their processing response.

Why are G50's Golconda gallium metallurgical results important for U.S. critical mineral supply (GFTYF)?

The results are important because they support potential future development of a domestic gallium supply integrated with precious metals. According to G50, the U.S. currently produces no primary gallium and relies on imports, while gallium is vital for semiconductors, defense systems and clean-energy technologies.

What mineral host and processing pathway did G50 identify at the Golconda project in Arizona?

G50 identified a defined muscovite mineral host and a repeatable concentration pathway for gallium at Golconda. According to G50, Phase 2 metallurgical work established a conceptual path for generating gallium from run-of-mine feed, using low-cost processing on surface oxide material from Little Jimmy.

How do the July 2026 Phase 2 gallium test results compare with G50's earlier April testwork?

According to G50, the July 2026 Phase 2 results are consistent with earlier April testwork on unoxidized samples. Both sets of tests support the potential future development of a strategic domestic gallium supply, integrated into a larger precious metals project at the Golconda property in Arizona.

Where is G50's Golconda project located and what other projects does G50 (GFTYF) operate?

Golconda is located in northwest Arizona, a long-established mining jurisdiction for base and precious metals. According to G50, the company also advances the White Caps project in Nevada, a historic gold mine where exploration has identified gold and antimony mineralization in addition to its Arizona critical minerals focus.