Latest Drilling Contractors News

Taruga Minerals has transformed its exploration strategy around two Papua New Guinea projects, but the next phase comes with a clear funding constraint. The ASX-listed explorer ended FY2026 with A$1.84 million in cash, a A$3.77 million loss and an auditor-highlighted material uncertainty over its ability to continue as a going concern.

Heavy Rare Earths has identified high-grade heavy rare earth zones at Subron while preparing drilling across its South Australian portfolio. But the FY2026 report also highlights a material uncertainty over the company’s ability to continue as a going concern, with only $459,327 in cash at year-end.

Jupiter Energy remained operationally cashflow positive in FY2026, but its cash position weakened sharply as revenue declined and drilling plans remained dependent on new funding. The Kazakhstan oil producer also carried US$13.87 million of interest-free promissory note debt after a post-year-end repayment.

Castle Minerals has identified six ranked gold targets across its 212km² Nielle project in Côte d’Ivoire, including previously unreported intercepts of up to 8m at 3.65g/t gold from surface. The company is preparing an Exploration Target for the historically drilled zone while planning new drilling, subject to the permit being granted.

Historical work has identified widespread near-surface columbo-tantalite mineralisation at Australasian Metals’ Atex project in Côte d’Ivoire, adding a potential tantalum stream to its lithium strategy. The results are encouraging, but the underlying estimate is non-JORC, unverified and based on incomplete historical records.

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.

Orion Minerals has set out a clearer route towards first production at its Prieska copper-zinc project, but its audited FY2026 accounts warn that further funding remains essential. The company reported a A$12.69 million loss and A$14.46 million in cash while targeting first production in Q3 2027.

Viking Mines has identified several wide zones of visually confirmed scheelite in ongoing RC drilling at its Linka tungsten project in Nevada, including 22 metres across a 24-metre horizon. The encouraging visual results remain unassayed, leaving laboratory results as the next critical test of grade and continuity.

Cosmo Metals has secured approval for up to 2,200 metres of maiden drilling at the Mona copper-gold-silver prospect in New South Wales. The campaign will test whether striking grades from historic mine dumps reflect concealed sulphide mineralisation below the old workings.

Golden Mile Resources says follow-up surface sampling has expanded the exposed Aurora gold anomaly in Arizona to at least 280 metres wide and 450 metres along strike. The results strengthen the case for drilling, although the prospect remains an early-stage, undrilled target with open boundaries.

Infini Resources has kicked off an extensive 5,000-meter diamond drilling campaign at its Portland Creek Uranium Project in Newfoundland, aiming to unlock a large hydrothermal uranium system revealed by recent geophysical surveys.

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.