Latest Drilling And Assays News

Citigold has signed a binding joint venture with Native Mineral Resources covering 40 tenements around Charters Towers, including most of its reported Central and Warrior resources. NMR will fund and control proving-up drilling, with a mining decision still dependent on results, approvals and economics.

Native Mineral Resources has secured exclusive exploration and potential mining rights across 40 Citigold tenements surrounding Charters Towers, within trucking distance of its Blackjack plant. The opportunity carries no upfront payment, but nearly all reported ounces remain Inferred and must first survive a new drilling program.

Vita Resources has submitted a revised application seeking consent for lower-impact exploration at its ICE Polymetallic Project in Yukon during the 2027 field season. The work could sharpen targets for future drilling, but Ross River Dena Council approval and funding remain outstanding.

Northstone Resources has secured an oversubscribed $2.37 million placement as its shares return to trading, funding a run of technical and drilling milestones in Serbia. The raise puts a maiden JORC resource estimate for the Tlamino gold-silver project in sharper focus, while also adding substantial option exposure to the capital structure.

Caprice Resources has declared a maiden 522,000-ounce JORC Mineral Resource at its Island Gold Project in Western Australia, including a 340,000-ounce high-grade component. The resource gives the company a quantified platform for growth, but nearly half the ounces remain Inferred and the project is not yet an Ore Reserve.

Nagambie Resources says Alkane’s early drilling has extended the C2W lode 115 metres down-dip, with peak assays of 24g/t gold and 30.9% antimony. The results arrive as Alkane weighs whether to proceed beyond its 12-month option and fund up to A$27.5 million for an 80% joint venture interest.

Somerset Minerals has completed its first drill campaign at Talisker in Nunavut, uncovering high-grade copper-silver mineralisation and extending the interpreted system across about 1.6km. The exploration result is encouraging, but the company ended September with A$1.057 million in cash and reported funding coverage of just 0.35 quarters at its recent spending rate.

Barys Resources has added a 110.8-square-kilometre gold exploration licence in Kazakhstan, taking its North Balkhash portfolio to 445.8 square kilometres. The expansion comes with a sharper funding constraint: cash fell to A$1.039 million at quarter-end, equivalent to about one quarter of funding at the reported spending rate.

Adavale Resources has lifted its Parkes Project gold inventory to 383,300 ounces after completing an 85-hole drill programme and consolidating the London-Victoria to Calarie corridor. The gains come with only A$535,000 in quarter-end cash, although a A$4.65 million placement is now being deployed to fund drilling and a November Scoping Study.

Alice Queen’s first 20 Horn Island RC holes all intersected mineralised geological features, with assays returning grades as high as 68.0g/t gold and extensions beyond the existing resource boundary. Nine assays remain pending as the company prepares to assess whether the results can support a larger resource and advance its development case.

Citigold has identified four priority exploration targets at Charters Towers, but no drilling was completed during the September quarter and its reported cash runway fell below half a quarter. The company is also heading into two meetings seeking to replace its board as it pursues funding for the mine restart.

Amara Minerals has reported broad gold intersections at its Apollo project in Victoria, including 102.3 metres at 2.29 g/t gold. The exploration momentum comes with just A$0.59 million in quarter-end cash and a stated need to assess further capital raising options.