Ramelius Resources' (ASX:RMS) board approved a budget of AU$90 million to AU$110 million, or around 240,000 metres in drilling planned for exploration in fiscal 2027, according to a Wednesday Australian bourse filing.

It completed a total of 165,000 meters of drilling in the second half of fiscal year 2026.

This included intercepts at the Dalgaranga project in Western Australia of 3.38 meters at 996 grams per tonne grade of gold from 101.6 meters, 1.6 meters at 130 g/t grade of gold from 216.3 meters, and 6.8 meters at 4.24 g/t grade of gold from 246.57 meters.

It also hit intercepts of nine meters at 12.9 g/t grade of gold from 499 meters and 12 meters at 5.34 g/t grade of gold from 91 meters at the Cue project.

Exploration and resource definition investment for the June quarter was AU$33.9 million. It reached AU$103.9 million for the fiscal year 2026, above the guidance of AU$80 million to AU$100 million.

Its shares rose 2% in recent trading on Wednesday.