Latest Drill Results News

Austin Metals has sharpened its gold targets at Brunswick Hill and Mt Sandy after completing 4,215 metres of reverse circulation drilling, including a standout 12-metre intersection at 1.67 g/t gold. The exploration progress comes with a near-term funding question, as the company ended September with $1.091 million in cash and estimated funding of 1.11 quarters.

OZZ Resources has completed its return to the ASX with a new critical minerals focus, but its $3.884 million cash balance is yet to translate into Bedaburra exploration spending. The company is now seeking to expand the Western Australian project while it rebuilds its exploration pipeline.

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.

Centaurus Metals has identified more than 20 drill-ready copper-gold targets across its expanded 75km² Boi Novo Project in Brazil. The pipeline includes eight priority prospects at Rio Novo and 13 additional targets at the original Boi Novo tenure, but the results remain an exploration story rather than a new discovery or resource estimate.

Elixir Energy has agreed to farm out half of its interests across much of the Taroom Trough to Beach Energy for $25 million in cash and a four-year, $180 million gross carried work program. The deal could materially reduce Elixir’s funding burden, but completion still depends on several approvals and conditions.

Hawthorn Resources is nearing a financial investment decision on a larger Anglo-Saxon open pit after upgrading the project’s resource to about 200,000 ounces. The opportunity is advancing alongside a wider FY2026 loss, falling cash and pending exploration results at Pinjin East.

Alkane Resources delivered 40,740 gold equivalent ounces in the September quarter, generated A$102 million in mine operating cash flow and reaffirmed FY27 production guidance. The result also funded the company’s maiden dividend while leaving A$440 million in cash and bullion.

Ora Banda Mining (ASX:OBM) kept its FY27 guidance intact despite weather disruption and an extended mill shutdown lifting quarterly AISC to A$4,214 an ounce. The company is spending heavily to build its next production phase, with the new 3.0 Mtpa plant on schedule and Waihi Underground starting ahead of plan.

Eagle Mountain Mining has emerged from FY2026 with no borrowings, a A$7.27 million accounting profit and a funded 20% interest in its Oracle Ridge copper project. The next test is whether Nittetsu’s drilling and earn-in spending can add value to an asset whose mineral resource has not changed since 2023.

Power Minerals has extended rare earth oxide mineralisation to 242 metres downhole at Morro do Ferro, including a 2-metre zone grading 6.88% TREO. The result adds two deeper high-grade targets to the Brazilian project’s resource-definition campaign, although their true geometry and economic significance remain unproven.

Tivan Limited (ASX:TVN) is moving several projects towards major technical and financing milestones, including a proposed $50 million Molyhil joint venture and maiden drilling in Timor-Leste. The company ended September with $19.925 million in cash, equivalent to about 2.3 quarters of funding at the quarter’s reported spending rate.

Constellation Resources has moved into fieldwork across its newly granted Edmund-Collier acreage while preparing laboratory data that could support a first prospective gas resource assessment. The company also outlined early 2027 copper-gold drilling at Ularring after reporting shallow mineralisation at Chatham.