Latest Drilling Campaign News

Jindalee Lithium has advanced its proposed US Elemental Nasdaq listing and prepared to launch major drilling at McDermitt, but its audited FY26 accounts flag a material uncertainty over ongoing funding. The company ended June with A$13.6 million in cash after raising about A$20.4 million, while reporting a A$7.2 million loss and no operating revenue.

Hawk Resources has reported broad near-surface copper mineralisation at its Cactus project, while its FY2026 loss widened and the company flagged a continuing need for fresh funding. The explorer ended June with A$4.52 million in cash after substantial equity raisings and has since secured an 80% Olympus scandium interest for A$1.36 million.

DevEx Resources has emerged from FY2026 with a 9,200 square kilometre uranium landholding in the Northern Territory, $27.2 million in cash and a multi-target drilling campaign underway. Early alteration at KP and shallow mineralisation at Big Radon provide technical encouragement, but the exploration case remains dependent on follow-up drilling and assays.

Golden Dragon Mining’s first full financial year as an ASX-listed explorer delivered high-grade shallow gold results at Cue, but also a $735,073 loss and an auditor-highlighted material uncertainty over going concern. A subsequent $2.2 million placement has strengthened the balance sheet, leaving drilling results and funding discipline as the key tests for FY2027.

Minerals Exploration has pivoted decisively into New Zealand gold and tungsten, but its annual report carries a material going-concern warning after a $2.66 million loss and $949,097 operating cash outflow. Exploration has produced encouraging surface samples and broad gold zones, though no mineral resource has been established.

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.

eMetals has shifted its exploration focus from Uganda to a larger Utah tungsten project, where high-grade re-assays have set up a 17-hole drilling campaign. But the ASX-listed explorer ended the year with $1.79 million in cash, $1.40 million of deferred consideration and an auditor-highlighted material uncertainty over its ability to continue as a going concern.

Oceana Metals has begun a 20,000-metre diamond drilling campaign at its Serra Negra rare earths project in Brazil, backed by high-grade historic assays and fresh capital. But the company’s $11.5 million FY2026 loss and an auditor-highlighted material uncertainty over going concern add a harder edge to the exploration story.

Empire Resources has expanded its Yuinmery exploration story with new copper, gold and PGE zones, but its FY2026 annual report carries a material uncertainty over whether the company can continue as a going concern. A $4.825 million capital raising lifted cash, yet losses and director-related debt also increased.

Falcon Metals has extended mineralised strike at its Blue Moon project beyond 850 metres while increasing exploration spending sharply and raising $30 million after year-end. The results remain exploration-stage, but the company now has substantially more drilling capacity and a second maiden campaign underway in Western Australia.

Pantera Minerals is seeking a low-cost foothold in Western Australia’s Albany Fraser Orogen through the proposed acquisition of the 470km² Corona Gold Project. The tenure carries an 8km historical gold anomaly and untested auger targets, but the evidence remains reconnaissance-stage and the transaction terms contain a share-count discrepancy that investors will want clarified.

WhiteRock Lithium has intersected spodumene-bearing pegmatite in all 10 newly reported drill holes at its Spodumene Mountain prospect in Québec. The visual results strengthen the geological case for continuity, but assays and true widths are still pending.