Latest Burbanks News

Auric Mining has secured A$17 million from institutional and existing investors to expand its gold resource base, fund drilling and progress Burbanks. A further A$3 million Share Purchase Plan remains subject to an ASX waiver, while the company says full project development will require additional funding.

Auric Mining has agreed to acquire the Iron Maiden Gold Project near Norseman for A$1 million upfront, while taking on project loans, deferred consideration and potential milestone payments. The shallow historical resource offers a new feed option for Burbanks, but it is not yet JORC 2012 compliant and the acquisition remains conditional.

Ore Resources closed September with a 153,200-ounce Coolgardie gold resource, expanding exploration ground and a preliminary lithium development case at Kangaroo Hills. The opportunity is growing, but A$3.81 million of cash represented only 1.4 quarters of funding at the latest spending rate.

Ore Resources has converted its Miriam drilling campaign into a 153,200-ounce JORC Mineral Resource, with most ounces shallow and Forrest still open along strike and at depth. A separate conceptual Exploration Target points to a further 200,000 to 400,000 ounces, but remains unconverted exploration potential.

Maritana Minerals has moved the Black Swan Processing Hub into active construction after securing all statutory process-plant approvals. The gold developer ended September with A$214.5 million in cash, a larger resource base and first gold still targeted for the second half of 2027.

Auric Mining has moved from study work towards execution at its Burbanks-Munda gold plan, securing processing infrastructure for A$1.2 million and reporting strong Munda drilling results. The company is targeting mining at Munda in late 2027 and first gold from Burbanks in early 2028, subject to approvals and project execution.

Auric Mining has completed settlement on the Union Jack gold project near Coolgardie for A$6.5 million in cash, with a further A$3.0 million in shares subject to shareholder approval. The 102,000-ounce Inferred resource will be tested by a major drilling campaign from November as Auric builds feed options for its planned Burbanks restart.

Auric Mining has reported a 4-metre intersection grading 10.49 grams per tonne gold west of its planned Munda open pit, alongside a series of high-grade near-surface results inside the Stage 2 design. The results arrive as pit engineering and Ore Reserve work move towards an expected October release ahead of a planned 2027 mining restart.

Auric Mining has acquired second-hand crushing and processing infrastructure for $1.2 million, securing key equipment for its planned Burbanks restart at a substantial discount to estimated replacement cost. The package is scheduled to move from New South Wales in late 2026, with installation preparation targeted for early 2027.

Maritana Minerals has increased the Burbanks Gold Project’s Mineral Resource by 62% to 755,000 ounces, pushing group resources above 2 million ounces. The growth is concentrated at Burbanks North, but the inventory remains predominantly Inferred and has yet to support an Ore Reserve.

Ore Resources has extended lithium mineralisation beyond the current resource boundaries at its Big Red and Potoroo pegmatites, with drilling still open to the north and west. The results add exploration upside to Kangaroo Hills as the company advances strategic discussions and approvals for a potential DSO operation.

Maritana Minerals is intensifying drilling across its Western Australian projects, aiming to upgrade resources and support a mid-2027 mining restart at Boorara and first gold processing at the Black Swan Processing Hub.