Latest Gold Exploration News

Clara Resources has finalised an initial 25-hole drilling campaign at Mareeba after rock chips returned up to 27.3 g/t gold, but entered October with only A$185,000 in cash. The explorer is relying on a delayed Kildanga sale and the second tranche of a placement to fund its next phase.

Tesoro Gold has moved El Zorro’s Ternera deposit from a defined resource to a 1.28Moz mineable reserve, while a newly committed A$40 million placement addresses a reported 1.61-quarter cash runway. The next stage is less about proving the orebody and more about completing the DFS, permitting the project and converting funding into development progress.

TerraNova Metals has assembled six priority targets at its Nielle Gold Project in Côte d’Ivoire and is preparing a 2,500-3,000 metre maiden drilling campaign, backed by a $4.075 million placement. The headline Exploration Target spans up to 1.4 million ounces, but remains conceptual and depends on a permit that has not yet been granted.

Elk Range Mining’s maiden drill hole at the Friday Gold Project returned 290.3 metres at 2.8 g/t gold, including 89.6 metres at 5.5 g/t. The ASX-listed explorer is now advancing its second and third holes, with A$7.19 million in cash and further assays due late November.

El Dorado Goldfields has begun testing a 180km² Guyana land package after securing an option to acquire a 90% interest in the Oko North and Oko South projects. Early rock-chip assays reached 2.32 g/t gold, but the greenfields projects remain undrilled and have no defined resources or reserves.

49 Metals has completed assays from all 22 holes in its maiden Gold Mountain RC program, with results pointing to a broad gold system and multiple higher-grade structures at the Adit Zone. A further 3,500 metres of drilling is now underway, while the company held $5.536 million in cash at quarter end.

Yandal Resources has locked in a $9 million placement and is seeking another $1 million from shareholders to accelerate drilling across its Western Australian gold projects. Gold Fields is expected to emerge with a 19.9% holding, while the raising will increase Yandal’s potential share count by roughly 35%.

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.

Bison Resources has expanded its Bald Peaks land position more than fourfold and lodged a Notice of Intent for seven maiden drill pads in Nevada. The exploration push comes as the company awaits results from 900 new rock chip and soil samples, with A$3.514 million in cash at quarter end.

Lac Gold says fresh assays from its Rouyn Gold Project show broad mineralised envelopes with higher-grade internal zones, supporting its plan to grow the existing 1.66Moz resource. The next major test is an updated resource estimate targeted for the March 2027 quarter, while the company’s A$9.85 million cash balance leaves limited room for delay or a sharp increase in drilling spend.

Moho Resources has confirmed two shallow, multi-lode gold systems at its Bush Chook project in Western Australia, but ended September with just $738,000 in cash and less than one quarter of funding at the quarter’s reported spending rate. The company is targeting broader exploration and follow-up drilling in 2027 while saying it expects to raise capital when required.

Truscott Mining is preparing a 3,000 to 4,000 metre diamond drilling program at its Westminster gold project, with drilling intended to support a JORC 2012 resource estimate. The ASX-listed explorer ended September with A$626,000 in cash and reported estimated funding for 3.62 quarters, including an unused facility.