Aboriginal Heritage Dispute Threatens Equinox’s Hamersley Iron Ore Drilling Plans
Equinox Resources has secured A$3 million to push forward its critical mineral projects, including a high-grade titanium discovery in Brazil, while navigating a significant legal challenge over Aboriginal heritage at its Hamersley Iron Ore Project.
- Completed A$3 million capital raise to fund key projects
- Maiden drilling confirms high-grade titanium mineralisation at Mata da Corda
- Legal challenge underway over Aboriginal heritage sites at Hamersley
- Permitting progress and surveys advance Canadian antimony and gold projects
- Strong metallurgical results enhance multi-commodity potential at Campo Grande
Capital Raise Fuels Exploration Momentum
Equinox Resources Limited (ASX, EQN) has successfully raised A$3 million in fresh capital, positioning the company to accelerate development across its portfolio of critical mineral projects. This funding injection comes at a pivotal time as Equinox advances drilling and metallurgical programs in Brazil and Canada, while also addressing regulatory hurdles in Western Australia.
High-Grade Titanium Confirmed at Mata da Corda
The company completed its maiden 6,359-metre drilling campaign at the Mata da Corda Titanium Project in Minas Gerais, Brazil. Final assay results reveal a shallow, laterally extensive titanium layer with grades reaching up to 17.4% TiO2. Notably, over 70 assay intervals exceeded 14% TiO2, underscoring the project's district-scale potential. Metallurgical testing further supports a straightforward processing route, with high concentrations of heavy minerals amenable to low-energy separation techniques.
Legal Dispute Clouds Hamersley Iron Ore Progress
Equinox is currently engaged in a judicial review in the Supreme Court of Western Australia, contesting the Aboriginal Cultural Heritage Committee’s recognition of two ethnographic sites on its Hamersley mining lease. This legal challenge follows the Minister for Aboriginal Affairs’ refusal of the company’s Section 18 application under the Aboriginal Heritage Act. The hearing is scheduled for 26 September 2025, with related administrative tribunal proceedings adjourned pending the court’s decision. The outcome will be critical for the company’s planned infill drilling program aimed at advancing its 108.5 million tonne Direct Shipping Ore resource.
Advancing Canadian Antimony and Gold Projects
In British Columbia, Equinox secured a Multi-Year Area-Based Notice of Work for the Alturas Antimony Project, authorizing drilling and geophysical surveys across a 7 km2 tenure. A high-resolution LiDAR survey has been completed to refine field plans, while a bulk sampling permit application is progressing. Meanwhile, the Mozy Marsh Gold-Antimony Project saw completion of LiDAR mapping and fieldwork, with assay results pending. Historical samples from this area have demonstrated exceptional gold and silver grades, reinforcing the project's exploration potential.
Campo Grande’s Multi-Commodity Promise
At the Campo Grande Rare Earth Project in Bahia, Brazil, Equinox finalized a reassay quality control program confirming refinery-grade bauxite with alumina contents up to 42.1%. The project also boasts significant gallium by-product potential, with assays showing gallium oxide concentrations as high as 106.5 g/t. Strategically located near key infrastructure, Campo Grande’s results enhance its appeal for future partnerships and value unlocking initiatives.
Financial Position and Outlook
Equinox closed the quarter with a cash balance of A$1.845 million and exploration expenditure of A$674,000. Payments to related parties, including director remuneration, totaled A$139,000. The company remains vigilant in managing its cash runway, currently estimated at approximately 1.65 quarters, with plans to adjust spending and pursue further funding if necessary.
Bottom Line?
As Equinox pushes forward with promising exploration results and legal challenges, the coming months will be pivotal in defining its path to unlocking value across its critical mineral assets.
Questions in the middle?
- What will be the Supreme Court’s ruling on the Aboriginal heritage sites at Hamersley, and how will it impact project timelines?
- How will pending assay results from Mozy Marsh and Campo Grande influence Equinox’s exploration strategy and valuation?
- What are the company’s plans for further capital raising to sustain exploration beyond the current cash runway?