Dynamic Metals Limited has made significant strides in its Western Australian exploration projects, securing government funding and reporting promising early assay results. The company maintains a strong cash position to support ongoing activities across gold, lithium, and fluorite targets.
- Received $175,000 WA Government grant for Cognac West drilling
- Initial assays show anomalous gold at Chalice South prospect
- Advanced critical minerals tenement applications at Meentheena
- Strong cash balance of $3.11 million at quarter end
- Widgiemooltha Lithium JV extended with $14 million Stage 2 commitment
Government Support Boosts Cognac West Drilling
Dynamic Metals Limited (ASX – DYM) has secured a $175,000 grant under the Western Australian Government’s Exploration Incentive Scheme to co-fund diamond drilling at its Cognac West gold prospect within the Widgiemooltha Project. This funding covers up to 50% of drilling and mobilisation costs, significantly reducing financial risk as the company targets gold and copper mineralisation in a structurally complex zone near the Republican Thrust.
The Programme of Work for this drilling has been approved, setting the stage for further exploration that builds on previous phases of reverse circulation drilling which identified broad zones of gold mineralisation, including high-grade intervals.
Encouraging Early Assays at Chalice South
At the Chalice South prospect, located near the historic Chalice gold mine, Dynamic Metals has received initial assay results from its first phase of drilling. The 13-hole program returned multiple broad zones of low-level gold anomalism, with assays exceeding 0.1 grams per tonne gold in composite samples. Geological logging confirmed the presence of mafic volcanic units similar to those hosting mineralisation at the nearby Chalice deposit.
These early results, while preliminary, suggest the presence of gold-bearing structures and warrant further detailed sampling and follow-up drilling to refine targets.
Expanding Critical Minerals Footprint at Meentheena
Dynamic Metals is advancing its strategic focus on critical minerals with tenement applications covering the Meentheena Fluorite Field in the Pilbara region. This underexplored fluorite occurrence has historical grades exceeding acid-grade specifications, positioning it as a potentially significant industrial mineral resource for steel, aluminium, and battery chemistry sectors.
The company plans to commence drilling to test the continuity and grade of fluorite veining beneath small open pits excavated in the 1970s, aiming to unlock a strategically important fluorite opportunity for Australia’s critical minerals supply chain.
Robust Financial Position Supports Exploration Momentum
Dynamic Metals ended the December 2025 quarter with a healthy cash balance of $3.11 million, bolstered by recent option exercises. Exploration expenditure for the quarter was approximately $417,000, focused on advancing multiple gold and critical minerals projects. The company’s financial strength underpins its active 2026 exploration program, which includes drill-ready targets across its portfolio.
Additionally, the Widgiemooltha Lithium Joint Venture with Mineral Resources Limited has been extended, with a confirmed Stage 2 earn-in expenditure commitment of $14 million. This extension provides both parties with additional time to realise the lithium potential of the project, which sits within a region emerging as a significant lithium belt.
Broader Exploration Activities and Future Outlook
Beyond the flagship Widgiemooltha Project, Dynamic Metals has completed soil sampling programs at the Lady Jane and Leinster gold projects, identifying coherent gold-in-soil anomalies that will guide future exploration. The company also continues to assess generative projects and joint ventures, maintaining a diversified portfolio across precious and critical minerals.
With a seasoned management team and a clear strategy to leverage government incentives and joint venture partnerships, Dynamic Metals is well positioned to advance its exploration pipeline and create shareholder value in a competitive market.
Bottom Line?
Dynamic Metals’ blend of government support, promising early results, and solid funding sets the stage for a pivotal year in its Western Australian exploration journey.
Questions in the middle?
- Will follow-up drilling at Cognac West confirm economically viable gold and copper mineralisation?
- How will assay results from Meentheena’s upcoming drilling influence the company’s critical minerals strategy?
- What impact will the extended Widgiemooltha Lithium JV earn-in period have on Dynamic Metals’ shareholding and project control?