Latest Drilling Assays News

Burley Minerals has confirmed shallow Channel Iron Deposit mineralisation across the North and Step-Out Targets at its Cane Bore project, with assays averaging 50.6% Fe across reported intersections. The mineralisation remains open northeast and southwest, but further drilling, metallurgy and approvals are still required before any resource can be defined.

White Cliff Minerals has reported a 76.5-metre copper-silver intercept at Danvers 1, including a 4-metre zone grading 11.19% copper. Three deeper holes also intersected visible copper sulphides, but their grades remain unconfirmed pending assays.

Dreadnought Resources has reported a high-grade shallow gold intercept from a new discovery at Metzke’s North, including 1 metre at 57.1 g/t gold from just 8 metres. Further diamond assays could determine whether the results are enough to expand the 24,900-ounce Metzke’s resource and support mining studies.

MRG Metals has reported exceptional rare earth grades at its newly acquired Garies project and advanced its Mozambique portfolio, but the explorer remains dependent on capital markets. The FY26 annual report flags material uncertainty over going concern despite a subsequent A$725,000 placement and a further share purchase plan.

Canterbury Resources enters FY2027 with just $220,503 in cash, net current liabilities and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The explorer is targeting at least $2 million in additional funding while advancing the Monto and Briggs copper projects.

Power Minerals has extended confirmed high-grade rare earth mineralisation at its Morro do Ferro project in Brazil, with a new hole returning 39 metres at 4.42% TREO from 80 metres downhole. Assays from shallower and deeper sections remain pending, leaving the scale and geometry of the zone unresolved.

Powerhaus Uranium entered the ASX with a $2.14 million annual loss, $1.51 million operating cash outflow and net liabilities at 30 June 2026. A subsequent $9 million IPO and the Hidden Bay acquisition have given the early-stage explorer a larger exploration runway, but drilling remains subject to approvals and future funding will still matter.

Basin Energy has begun preliminary leachability and XRD studies at its Newmans rare earth discovery, with follow-up drilling assays due imminently. The early-stage program adds a recoverability test to a project already showing a 3.3 km mineralised corridor in northwest Queensland.

AusQuest has materially expanded its Cangallo copper-gold discovery in Peru, but the exploration push came with a larger loss, a sharp rise in cash outflows and an auditor warning that further funding is likely within 12 months. The company ended FY2026 with $6.35 million in cash after a $10 million placement.

Anson Resources has completed environmental baseline surveys at its Yellow Cat uranium-vanadium project in Utah, clearing a stated hurdle ahead of planned drilling. The next test is whether twin holes can validate historical high-grade results and support a maiden JORC 2012 resource estimate.

American West Metals has reported thick visual copper, zinc and molybdenum mineralisation in three new holes at its West Desert Project in Utah. The strongest result came from WD26-07, but laboratory assays are still needed to establish grades and economic significance.

Elk Range Mining has identified coarse visible gold in retained historical core from its Friday Gold Project in Idaho, inside an interval previously reported at 26.54 g/t gold. The observation is encouraging but not an assay result, leaving Photon Assay results and current drilling assays as the decisive tests.