Latest Drilling Approvals News

Narryer Metals is buying the Redhill Copper Project in southern Chile from 29Metals, gaining an existing 4.3Mt inferred resource and a much larger conceptual exploration target. The deal also brings a A$1 million strategic investment from 29Metals at a 54% premium to Narryer’s pre-announcement share price.

Novo Resources is positioning a A$8 million cash balance and A$37.54 million investment portfolio behind a broad Australian gold, copper and polymetallic exploration push. The strategy brings several drilling catalysts, but also a A$10 million deferred payment due in December and a heavy reliance on future exploration success.

OD6 Metals has transformed its portfolio with the completed acquisition of Nevada’s Quinn Fluorspar Project, but the strategic expansion comes alongside a larger loss, ongoing funding needs and substantial permitting risk. The company is now targeting drilling and a maiden resource at Quinn while advancing laboratory-scale rare earth processing work at Splinter Rock.

BPM Minerals has entered its most consequential exploration phase after expanding Beachcomber into a multi-lode gold system and securing A$6.6 million in cash. The company is now drilling toward a maiden JORC resource, although its option to acquire the Forelands project remains unexercised and no resource has yet been estimated.

Forte Energy has bought nine more months to secure funding for the required Idris Prospect well after regulators suspended work-program conditions on WA-424-P. The extension preserves the permit, but drilling finance and the prospect’s technical credentials remain unresolved.

Dundas Minerals has stitched together a continuous gold corridor north of Kalgoorlie, adding nine licences including the high-grade Gemini prospect. Historical drilling highlights untested mineralisation open along strike and depth, setting the stage for a major drilling campaign starting late September.

Dundas Minerals has locked in Exploration Licence E38/4002, securing the 5km Bloodwood gold anomaly within its Romano Project in Western Australia. Historical drilling highlights promising gold grades, setting the stage for systematic exploration pending heritage approvals.

Kingfisher Mining’s first drilling at Stephens Trig since 2017 confirms significant high-grade silver, lead, and zinc mineralisation, reinforcing its Broken Hill portfolio and strategic development options.

Evolution Energy Minerals has regained full rights to its Chilalo Graphite Project licence in Tanzania, clearing a significant regulatory hurdle and reaffirming its target to begin production by October 2027.

Powerhaus Uranium launches an IPO to raise up to A$10 million, aiming to accelerate uranium exploration in underexplored Argentine provinces and acquire a Canadian Athabasca Basin project. The company’s flagship Malbec Project shows promising early-stage results, with plans for extensive drilling and in-situ recovery methods.

Albion Resources has uncovered exceptionally high-grade gold at its Gidgee Gold Project, with rock-chip sampling returning a standout 280.3 g/t Au from the Phar Lap Prospect, setting the stage for a maiden drilling campaign.

Heavy Rare Earths Limited (ASX:HRE) is raising approximately $728,000 through a non-renounceable entitlement offer priced at 2.8 cents per share, accompanied by free-attaching options exercisable at 6 cents. The capital raise aims to fund maiden drilling programs and a strategic review across its key projects.