Latest Gold And Base Metals Exploration News

Middle Island Resources has connected three mineralised zones at its Bobija project in Serbia into an 80,000-square-metre shallow polymetallic system, while confirming sizeable copper and gold targets elsewhere in its portfolio. The explorer is also shedding its Northern Territory licences to reduce annual commitments by about $400,000, but reported only $1.694 million in quarter-end cash.

Miramar Resources has reported a maiden Inferred gold resource of 39,764 ounces at its 80%-owned Gidji JV near Kalgoorlie and secured $1.25 million to fund follow-up work. The resource is shallow and potentially expandable, but remains entirely Inferred and unsupported by metallurgical test work.

Genesis Resources has outlined a 15-hole drilling program at Arltunga after surface samples returned up to 28.759 g/t gold, while its September-quarter cash position highlights the funding pressure facing the explorer. The company held $154,000 in cash and estimated 1.65 quarters of funding, including unused related-party facilities.

Australian Gold and Copper has uncovered previously untested gold mineralisation across a 1.9km corridor at Evergreen after assaying 2,161 historic core and RC samples. The results add shallow oxide hits while further RC assays and a proposed 3,000m drilling program remain ahead.

Ballymore Resources has reported further high-grade silver-lead-zinc-indium mineralisation at Torpy’s while advancing underground work and exploration at Dittmer. The stronger exploration picture comes with a sharper funding question: the company held $2.67 million in cash at quarter end, equivalent to an estimated 1.2 quarters of funding at the reported spending rate.

Patronus Resources has reported gold mineralisation below the existing Tally Ho resource, shallow results at Davies No. 2 and a broad intercept at Hydra. The ASX-listed explorer ended September with $72.029 million in cash and liquid investments, giving it room to keep drilling while assays remain outstanding.

Venus Metals has completed a second 1,541-metre RC drilling program at Bellchambers after intersections including 20 metres at 2.72 g/t gold. The explorer ended September with $25.8 million in cash and Rox Resources shares, despite returning about $35 million to shareholders during the quarter.

Legend Mining is preparing to test its Pyrophyllite Hill gold prospect with a 50-hole aircore program after completing heritage surveys. The explorer ended September with $9.24 million in cash, although the reported 19.5-quarter funding estimate is based on a relatively modest quarter of spending.

Sultan Resources has lodged a prospectus for up to 91.4 million options to existing shareholders, alongside a further 25 million options for lead manager Xcel Capital. The offer brings in little immediate cash but could provide up to $3.43 million if the new options are later exercised.

Ballymore Resources enters FY2027 with Dittmer moving towards underground resource drilling, bulk sampling and trial mining, while Torpy’s has emerged as a second high-grade polymetallic opportunity. The progress came alongside a $3.10 million loss, a $10.92 million royalty liability and a disclosed material uncertainty over ongoing funding.

A new magnetotelluric survey has identified a large conductive anomaly beneath Strickland Metals’ Obradov Prospect in Serbia, adding another high-priority target to its 9.25Moz AuEq Rogozna project. The anomaly is supported by overlapping gravity, IP, geochemical and drilling evidence, but still requires drilling to establish whether it contains an economic mineralised system.

TechGen Metals has wrapped up diamond drilling at its Blue Devil Project in East Kimberley, intersecting pyrite-rich sedimentary rocks and quartz-carbonate-pyrite zones that hint at an intrusive-related gold system. Initial assay results are due next month, potentially setting the stage for further exploration.