Latest Drill Targeting News

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.

Tarrina Resources has identified five kilometre-scale IOCG target zones at Walparuta after soil sampling returned copper values up to 2,891 ppm and gold up to 466 ppb. The planned 23-hole drill campaign remains subject to native title, heritage, land access and government approvals.

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.

PolarX Limited (ASX:PXX) has reported a year of high-grade exploration results across Alaska and Nevada, led by a 24.8-metre copper intercept grading 9.8% at Caribou Dome. The company ended FY2026 with A$10.0 million in cash, but remains loss-making and dependent on future funding and exploration success.

Sultan Resources has reported a $1.48 million FY2026 loss and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The explorer is seeking to fund early-stage Lachlan Fold Belt work while pursuing a new Namibia opportunity and a post-year-end $1.316 million placement.

Pioneer Minerals has warned of a material uncertainty over its ability to continue as a going concern after closing FY2026 with just A$80,302 in cash. The company is relying on a proposed A$2.5 million capital raising while pushing its Idaho tungsten-gold-gallium project towards maiden drilling.

Australian Gold and Copper expanded its exploration footprint and advanced major targets during FY2026, but the campaign came with a larger loss and a sharp reduction in cash. The company now has a 38.5Moz silver-equivalent Achilles resource, a newly acquired Junee gold portfolio and further funding demands ahead.

Emperor Energy has moved its Judith Gas Field closer to a targeted April 2027 appraisal well, with the VALARIS 107 rig lined up and regulatory work advancing. But the company’s auditor has highlighted a material uncertainty over its ability to continue as a going concern, with management forecasting a need to raise about $45 million through September 2027.

Estrella Resources has identified copper-bearing porphyritic diorite and gold at nine locations around Timor-Leste’s Laleno Dome, strengthening the case for a broader intrusion-related system. The geological signal is encouraging, but drilling approval and representative follow-up work remain outstanding.

Albright Metals has established a 54,200-ounce JORC 2012 Mineral Resource at the Vail Road deposit in Canada, including 22,500 ounces in the higher-confidence Indicated category. The estimate gives the company a technical foundation for a Scoping Study, but mine economics and metallurgy remain untested.

West Coast Silver will begin an 18-hole diamond drilling campaign at Elizabeth Hill in October, targeting resource upgrades, western extensions and a newly defined high-grade zone. The results are intended to feed Mineral Resource Estimate updates and a scoping study in 2027.

E79 Gold has secured the final tenement at its 67 square kilometre Cue Gold Project in Western Australia, clearing the stated tenure hurdle ahead of a planned drilling campaign. More than 12,000 metres of aircore and reverse circulation drilling is scheduled to begin in early November, subject to heritage clearance.