Latest Mining And Exploration News

Marmota’s 2026 annual report charts a rapid expansion from a single gold focus to a multi-asset exploration portfolio, led by more than 2km of high-grade Greenewood and Mainwood mineralisation. The company finished the year with A$14.36 million in cash after a A$15 million placement, but remains firmly in the exploration stage.

Terrain Minerals has started its largest-ever Smokebush drilling campaign after establishing a 54,000-ounce inferred gold resource at Lightning, while newly identified tungsten adds a second critical-minerals angle. The exploration momentum comes with a clear funding constraint: quarter-end cash covered only 1.16 quarters of reported outgoings, before the company placed its remaining rights issue shortfall.

Basin Energy’s Newmans rare earth discovery has expanded from 3.3 km to 6.7 km, with drilling producing the project’s strongest magnet rare earth results to date. The technical momentum comes with a sharper funding question, as cash stood at A$776,000 and covered an estimated 1.53 quarters of current outgoings.

Battery Age Minerals advanced its Bleiberg germanium permits and expanded Falcon Lake to about 60 km², but its cash position now covers an estimated 1.34 quarters of funding. Initial Apex fieldwork also failed to confirm the remote-sensing anomalies that had defined the Utah targets.

Eastern Resources has identified a 1.7-kilometre vein system at its Marengo Gold Project, where all 60 rock-chip samples returned anomalous gold and the best assay reached 12.3 g/t Au. The results strengthen the case for follow-up exploration, but remain surface-sampling evidence rather than a mineral resource.

Industrial Minerals has cleared a key licensing hurdle at its newly acquired Laverton Gold Project, positioning the North Pool prospect for maiden RC drilling once heritage and regulatory approvals are complete. The company ended September with $2.50 million in cash after completing its $3 million placement and issuing shares tied to the acquisition and board changes.

Orpheus Uranium has begun maiden drilling at its Frome Project while expanding its Marree landholding and raising $4.25 million to fund exploration. The quarter ended with $7.45 million in cash and liquid investments, but the company is still awaiting results and several transaction milestones.

QEM has completed its move into Idaho, acquiring the Big It and Garden Valley projects and outlining staged exploration of historical tungsten, antimony, gold and rare-metal targets. The company ended September with $3.98 million in cash while keeping major Julia Creek expenditure on hold.

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.

Piche Resources has identified a broad gold-silver system at Toro Hosco in Argentina after completing its maiden 5,911-metre drilling campaign. The exploration progress came alongside a $5.27 million annual loss, $5.22 million operating cash outflow and reliance on post-year-end equity funding.

Sultan Resources has secured firm commitments for a $1.316 million placement to fund its move into Namibia, including initial work at the 171.2 square kilometre Kaalkop project. The deal also carries a substantial option package, with key securities still requiring shareholder approval.

Industrial Minerals has completed its shift from an industrial-minerals explorer towards Western Australia gold, adding a 205 square kilometre Laverton portfolio after year end. The company enters the next phase with historical high-grade intercepts, a planned maiden drilling campaign and $2.08 million in cash at 30 June.