Latest Diamond Drilling News

Golden Deeps has reported high-grade polymetallic results at its Graceland prospect in Namibia while stepping up deeper drilling across an 800-metre target corridor. The explorer ended FY2026 with $4.218 million in cash, but remains dependent on exploration success and future funding.

Emu NL has moved from geological validation at Fiery Creek into a larger drilling campaign at its Yataga Valley copper project, after ending FY2026 with $3.15 million in cash. The progress comes with a material warning: the auditor said the company’s ability to continue as a going concern depends on securing further capital.

Right Resources posted a A$5.16 million loss for FY2026 and warned of material uncertainty over its ability to continue as a going concern, despite A$3.24 million in cash at year-end and a subsequent A$2.94 million capital raise. The explorer is betting that new drilling at Blue and a revised geological model at Pilot can improve the investment case.

European Lithium reported a A$930.6 million FY2026 profit, but the headline result was dominated by a A$1.276 billion accounting gain after losing control of Critical Metals Corp. The company now heads towards an October vote on a merger that would fold its cash, CRML stake and mineral assets into a single NASDAQ-listed group.

MRG Metals has reported exceptional rare earth grades at its newly acquired Garies project and advanced its Mozambique portfolio, but the explorer remains dependent on capital markets. The FY26 annual report flags material uncertainty over going concern despite a subsequent A$725,000 placement and a further share purchase plan.

Venari Minerals has moved Red Mountain from grassroots discovery to a 3.03Mt lithium carbonate equivalent inferred resource, backed by 99.5% battery-grade lithium carbonate test work. The next test is commercial rather than geological, with drilling, permitting and a planned Scoping Study now competing against a large loss and ongoing funding needs.

NewPeak Metals reported a $4.36 million FY2026 profit, but the result was driven mainly by fair-value gains and investment disposals rather than mining revenue. The auditor has flagged a material uncertainty over going concern even after the explorer secured a post-year-end $3.5 million placement.

Larvotto Resources has extended high-grade antimony-gold-tungsten mineralisation at Clarks Gully about 100 metres beyond its 2025 resource model, with drilling also identifying several hanging-wall lodes. The results could support a larger resource and a potential underground feed source for Hillgrove, but assays, modelling and permitting work remain outstanding.

Brazilian Rare Earths has identified a new high-grade rare earth system at Sulista South, with mineralisation traced across about 500 metres and grades reaching 13.3% TREO. Step-out and infill drilling at Sulista East has also extended the known footprint and strengthened the case for a larger year-end resource estimate.

Athena Resources has expanded its Byro Magnetite Project resource to 76.3 million tonnes and begun drilling at Narryer, the prospect earmarked for potential early development. The progress came with a $1.11 million FY2026 loss, a non-binding joint venture and fresh funding still supporting an exploration-stage business.

Broken Hill Gold has won tenders for two South Australian exploration licences covering 751 square kilometres, doubling its regional tenure near White Dam to more than 1,500 square kilometres. The ground includes the historically productive Manna Hill and Waukaringa goldfields, but still requires formal grant, permitting and modern drilling before its potential can be tested.

Aureka’s inferred gold resources climbed to 454.8koz in FY2026 as the company moved closer to production through a proposed acquisition of the Fiddlers Creek mine and Wedderburn mill. The shift comes with a $5.75 million annual loss, $5.97 million operating cash outflow and further equity funding.