Latest Drilling And Assays News

Lightning Minerals has enlarged its exploration targets at Mt Turner and Warby, with drilling and assay results now forming the next major catalysts. But the ASX explorer ended September with A$939,000 in cash, equivalent to about one quarter of funding at current outgoings.

Magnum Mining has completed its main Piracanjuba North drilling campaign and narrowed the Brazilian rare earths project to a 32.5 square kilometre priority zone ahead of a maiden resource estimate. The progress comes with a sharper constraint: A$2.0 million in cash covers only about 1.19 quarters at the latest spending rate.

Infini Resources has launched its largest exploration campaign at Portland Creek, while maiden Saskatchewan drilling awaits assays and the company reports only 0.43 quarters of funding at current outgoings. The ASX-listed explorer ended September with A$1.897 million in cash after spending A$3.7 million on exploration during the quarter.

Berkeley Energia has completed follow-up drilling at its Conchas lithium-rubidium project while its US$1.25 billion arbitration claim against Spain moves towards a mid-2027 jurisdiction hearing. The company ended September with A$60 million in cash and no debt, but Salamanca’s permitting impasse remains unresolved.

Resource Minerals International has identified multiple high-grade gold-silver quartz veins and a large copper-molybdenum-bismuth soil anomaly at Wadi Salamah in Saudi Arabia. The exploration progress comes with drilling and assay results still ahead, while RMI ended the quarter with A$477,000 in cash.

Sabre Resources has completed the first 54 holes at its newly acquired Kurundi North copper-gold project, with laboratory results due within four to five weeks. The explorer ended September with $4.232 million in cash after completing the second tranche of its $2 million placement.

Resolution Minerals has extended gold mineralisation across its Horse Heaven project in Idaho, including a 500-metre open-ended zone at Golden Gate North. But the quarter ended with just A$1.64 million in cash and an Appendix 5B estimate of 0.2 quarters of funding, placing the proposed debt facility and future capital sources firmly in focus.

Felix Gold has reported a 12.19-metre gold interval grading 2.84 g/t from the first assays of its 2026 Treasure Creek step-out drilling. The result extends testing beyond NW Array, but 73 of the program’s 80 holes remain unassayed and true widths are not yet known.

Sinclair Gold has doubled the Mt Henry Gold Project’s Mineral Resource to 1.8 million ounces within six months of acquisition, with most of the estimate in Measured and Indicated categories. Five rigs remain active across Mt Henry and Selene, but the company’s cash balance fell to $24.8 million after a quarter of heavy exploration and transaction spending.

New Murchison Gold has struck its highest-grade one-metre RC sample at Garden Gully, with 14 metres grading 231.67g/t gold beneath the Crown Prince open pit. The result sits outside the current resource and near the proposed underground mine design, but its geometry and continuity remain unconfirmed.

Oceana Metals is positioning its 100%-owned Serra Negra project in Brazil as a large-scale rare earths opportunity, backed by broad, high-grade exploration results and a four-rig drilling program. The next test is whether those results can be converted into a maiden mineral resource and, eventually, an economically viable project.

White Cliff Minerals has expanded copper mineralisation at Danvers to 4.75km, added a new Bornite Hills discovery and secured A$8.77 million from Hancock Prospecting. The funding improves the immediate exploration position, but the project remains at the drilling and assay stage.