Latest Gold Exploration And Development News

Adavale Resources has lifted its Parkes Project gold inventory to 383,300 ounces after completing an 85-hole drill programme and consolidating the London-Victoria to Calarie corridor. The gains come with only A$535,000 in quarter-end cash, although a A$4.65 million placement is now being deployed to fund drilling and a November Scoping Study.

Citigold has identified four priority exploration targets at Charters Towers, but no drilling was completed during the September quarter and its reported cash runway fell below half a quarter. The company is also heading into two meetings seeking to replace its board as it pursues funding for the mine restart.

Redcastle Resources has reported a 6,600-ounce Mineral Resource on its ROM pad, while mining remains suspended because the planned third-party toll-treatment pathway has been deferred. The company ended September with $1.097 million in cash, equivalent to 1.54 quarters of funding at the reported expenditure rate.

Haranga Resources has moved its Lincoln Gold Project closer to a formal redevelopment study after completing underground access works, securing adjacent land and returning a high-grade result from the first Phase 2 hole. The company ended September with $3.33 million in cash as it weighs the cost and scale of a potential restart.

Besra Gold is pushing for a three-year technical study program at its Bau project while negotiations over key Sarawak mining tenure remain unresolved. The Ontario Securities Commission cease trade order also remains in place, with the company holding A$7.586 million and reporting about 4.9 quarters of funding at its current cash burn.

Aurum Resources has lifted Boundiali’s mineral resource to 3.84Moz and group resources to 5.0Moz, while a A$52.5 million placement gives the Côte d’Ivoire developer funding for drilling and early infrastructure. The next test is whether resource growth can translate into a definitive feasibility study late this year.

Horizon Gold has reported its strongest Snook drilling results to date alongside resource-growth extensions across nine prospects at Gum Creek. The exploration success comes with A$16.945 million in cash and a major funding requirement still ahead for development.

Lefroy Exploration ended September with $2.001 million in cash and estimated funding for just 1.44 quarters after a $1.104 million net cash outflow. The company expects spending to ease, but is also exploring further funding options while advancing Mt Martin and Lucky Strike.

Nexus Minerals has ended the September quarter with a 631,000oz Wallbrook gold resource, A$7.95 million in cash and a funded drilling program ahead. The company is now moving from resource growth towards processing, permitting and potential mine development, though no Ore Reserve has yet been defined.

Astral Resources has moved its Mandilla development closer to a definitive feasibility study while extending drilling at Theia and adding 281,000 ounces to its Spargoville resource base. The company ended September with A$59 million in cash after spending A$7.6 million during the quarter.

Sinclair Gold has doubled the Mt Henry Gold Project’s Mineral Resource to 1.8 million ounces within six months of acquisition, with most of the estimate in Measured and Indicated categories. Five rigs remain active across Mt Henry and Selene, but the company’s cash balance fell to $24.8 million after a quarter of heavy exploration and transaction spending.

Sentinel Metals has completed its first 15-hole Columbia drilling program, with fire assays confirming a broad high-grade intercept and extending mineralisation beyond the existing pit shell. The company will now turn to a November Mineral Resource update while advancing its newly acquired 1.01Moz Big Springs project in Nevada.