Mandrake Resources has secured the final regulatory approval for a planned 3,200-metre gold-copper drilling programme at its Berinka project in the Northern Territory. Mobilisation is scheduled for October, putting the company’s next exploration milestone within reach.
- Environmental Mining Licence approved for Berinka drilling
- Approximately 3,200 metres of drilling planned
- Mobilisation and programme commencement scheduled for October 2026
- Project located in the Pine Creek goldfields
- Mandrake reported $11.7 million in cash and no debt at June 2026
Berinka Licence Removes Final Regulatory Barrier
Mandrake Resources Limited (ASX:MAN) has cleared the last stated regulatory hurdle before drilling at its Berinka Gold-Copper Project in the Northern Territory, receiving approval for an Environmental Mining Licence covering an approximately 3,200-metre programme.
The approval came from the Northern Territory Department of Lands, Planning and Environment. Mandrake said mobilisation and drilling are scheduled to begin next month, placing the company on the edge of a potentially important exploration phase in the Pine Creek goldfields.
October Drilling Sets Near-Term Exploration Catalyst
The announcement does not disclose the programme’s target locations, drilling costs or expected results. It does, however, convert a previously planned campaign into an activity that can now proceed subject to mobilisation and the timetable holding.
For shareholders, the next meaningful evidence will come from the work itself: whether drilling starts as scheduled, how the programme progresses and when assay results become available. The approval alone provides no new information on mineralisation, grades, resource size or the potential economics of Berinka.
Cash Position Supports Programme Timing
Mandrake’s presentation of the approval lists $11.7 million in cash as at June 2026 and no debt, alongside a market capitalisation of $12.5 million based on a 2.0-cent share price. The filing does not state how much of that cash will be directed to Berinka or whether further funding will be required for subsequent exploration.
That leaves the October mobilisation as the immediate operational checkpoint. The more consequential test will arrive later, when drilling data and assays show whether the project can justify work beyond the initial 3,200 metres.
Bottom Line?
Regulatory clearance puts Berinka on track for October drilling, but the investment case still depends on what the programme finds and how much follow-up work costs.
Questions in the middle?
- Will mobilisation and drilling begin on schedule in October 2026?
- What geological targets and intersections will the 3,200-metre programme test?
- Will the initial drilling produce results strong enough to support a larger follow-up campaign?