Latest Mineral Exploration News

Daly Resources has extended the known Huckitta fluorite system more than 5km west of its historical focus, with rock-chip assays reaching 91.2% CaF2 across a vein mapped for more than 700m. The explorer is now preparing a regional soil campaign to rank targets for maiden drilling, while advancing copper-zinc work at Broughton and zinc-lead-copper exploration at Batten.

Lightning Minerals has enlarged its exploration targets at Mt Turner and Warby, with drilling and assay results now forming the next major catalysts. But the ASX explorer ended September with A$939,000 in cash, equivalent to about one quarter of funding at current outgoings.

NGX Limited (ASX: NGX) is moving from a small exploration footprint to a district-scale Namibian gold and copper portfolio, backed by a post-quarter-end A$3.6 million placement. Early Malawi drilling also returned shallow rutile intersections, but the expanded program arrives with only A$1.188 million in cash at quarter end.

Kalamazoo Resources has reported a strong quarter at Ashburton, where high-grade Mt Olympus drilling is feeding an updated resource and pre-feasibility study. The company also secured A$18 million in placements, although its September cash balance was just A$670,000 before the post-quarter raise.

Zeus Resources has moved Diaguili from acquisition target to drill campaign, securing a 51% interest and defining a 1.7km untested conductor in southern Mauritania. The company will start a 1,200m diamond programme in November, while historical drilling results remain unverified and the project permit approaches renewal.

Tempest Minerals ended the September quarter with $1.339 million in cash after selling 44,000 Capricorn Metals shares for $686,081. Exploration spending remained modest at $46,000, leaving the company with a reported 4.22 quarters of funding while it advances its iron and gold projects.

Mindax ended FY2026 with just A$83,116 in cash and a A$2.49 million loss before tax, prompting its auditor to highlight material uncertainty over the company’s ability to continue as a going concern. Post-year-end funding has lifted cash to A$4.079 million, although much of that support remains tied to convertible debt and approvals.

Gold Mountain has reported a busy September quarter across its Brazilian exploration portfolio, led by strong Irajuba rare earth intersections and encouraging metallurgical results at Capivara. The company ended the quarter with $6.397 million in cash after spending $1.828 million on exploration and raising $1.5 million through equity issues.

Ragnar Metals has identified at least five interpreted open gold shoots at its Harnäs project in Sweden, including a 13.6 g/t Au interval. The exploration upside arrives alongside just A$87,000 in cash and a stated 0.16 quarters of funding, leaving the company reliant on fresh funding or liquid investments.

Skylark Minerals has more than tripled the Inferred Resource at its Zaranou Gold Project to 1.20 million ounces and agreed to lift its ownership to 90% for US$1.2 million. The stronger project position arrives alongside A$2.3 million in cash and a disclosed 0.9-quarter funding runway, with a proposed capital raising now central to the next drilling campaign.

Antares Metals ended September with $898,000 in cash and no unused financing facilities, leaving an estimated 1.2 quarters of funding at its quarterly operating burn. A recently completed second placement tranche is intended to support drilling at Quinns and further work at Mt Isa North, but the explorer is also expanding its exploration commitments.

G11 Resources has identified a broad alteration zone with elevated silver, arsenic and antimony at its Zig Zag target in Tasmania, while preparing three more drill holes. The company has also secured government co-funding to test a separate copper-gold target and reported encouraging early geochemistry at Packsaddle.