Enterprise Metals Ltd reported significant progress across multiple Western Australian projects in its June 2025 quarterly update, supported by a government drilling grant and a $780,000 share placement.
- Completion of Heritage Survey at Doolgunna with drilling planned
- WA Government grant of up to $90,000 awarded for drilling
- $780,000 raised via share placement to fund exploration and working capital
- Ongoing soil sampling and geophysical surveys at Mandilla and Murchison projects
- No mining production activities; cash balance at $682,000 at quarter end
Exploration Momentum Builds at Doolgunna
Enterprise Metals Ltd (ASX, ENT) has marked steady progress in its June 2025 quarterly activities report, highlighting key developments at its flagship Doolgunna gold and copper project in Western Australia. Following the signing of a new Heritage Agreement with the Yugunga-Nya People, the company completed a Heritage Survey in late July, a prerequisite for advancing its exploration programs. With a contractor now selected, Enterprise plans to commence Reverse Circulation (RC) drilling at the Vulcan gold prospect and Air Core (AC) drilling at the Goodins Fault prospect, aiming to better understand the structural controls on previously identified gold mineralisation.
Government Support and Capital Raising Bolster Exploration
Enterprise’s drilling plans at Doolgunna have received a boost from the Western Australian Government’s Exploration Incentive Scheme, which awarded the company a grant of up to $90,000. This funding covers nearly half of the planned drilling budget, underscoring government support for junior explorers in the region. Complementing this, Enterprise successfully raised $780,000 through a share placement completed in early July, with a second tranche pending shareholder approval. The capital injection is earmarked to advance exploration not only at Doolgunna but also at the Mandilla gold project, the Eneabba heavy minerals program, and the Murchison copper-zinc and rare earth elements initiatives.
Progress Across Multiple Projects
Beyond Doolgunna, Enterprise continued its methodical approach at Mandilla, conducting 90 ultrafine soil samples to refine drill targets, with results expected by mid-August. In the Murchison region, the company plans Moving Loop Electromagnetic surveys and 23 Air Core drillholes adjacent to Victory Metals’ significant rare earth element resource, indicating a strategic focus on base metals and critical minerals. Meanwhile, at Eneabba East, Enterprise secured permissions for Air Core drilling on road verges targeting heavy minerals and titanite, although some approvals remain pending.
Financial Position and Outlook
Enterprise Metals reported exploration expenditure of $143,000 during the quarter, with no mining production activities recorded. The company ended the period with $682,000 in cash and cash equivalents, reflecting a solid liquidity position to support ongoing exploration. Notably, there were no payments to related parties during the quarter, and the company remains focused on advancing its portfolio through disciplined capital management and strategic exploration.
As Enterprise prepares for upcoming assay results and shareholder decisions on the second tranche of its placement, the market will be watching closely to gauge the impact of these developments on the company’s growth trajectory.
Bottom Line?
Enterprise Metals is positioning itself for a pivotal exploration phase, with funding and government backing setting the stage for potential resource breakthroughs.
Questions in the middle?
- What will the assay results from the upcoming drilling programs reveal about gold mineralisation at Doolgunna and Mandilla?
- How will shareholder approval of the second tranche placement influence Enterprise’s exploration momentum?
- What are the timelines and prospects for securing remaining drilling permissions at Eneabba East?