Latest Drilling Programs News

LE Minerals finished FY2026 with an A$48.2 million statutory profit, but the result was driven by a one-off A$58.1 million after-tax gain from selling its Solaroz lithium project interest. The company ended the year with A$60.2 million in cash and term deposits as it reshapes its portfolio around Queensland and Utah exploration assets.

Marmota has expanded drilling across its Greenewood and Mainwood gold targets after intersecting geology resembling earlier favourable zones. With 313 holes now completed, the first assays are expected next week, although the announcement contains no new grades or quantified mineralisation.

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.

Power Minerals has outlined a maiden conceptual Exploration Target of 9.2 million to 10.7 million tonnes at Morro do Ferro in Brazil, grading 7.8% to 9.2% TREO. The result gives the ongoing drilling program a clearer target, but 43% of the upper estimate comes from an untested projected extension and nine recent holes remain unassayed.

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.

GBM Resources has returned a broad 101-metre gold intersection at 2.63g/t from Lone Sister, with higher-grade intervals pointing to potential local grade uplift at Twin Hills. A further 8,400 metres of assays remain pending before the planned December-quarter resource update.

Avira Resources is remobilising its RC rig to resume a 4,500-metre drilling program at Mt Cattlin, with first-pass holes planned at the historically high-grade Sirdar and Ellendale prospects. The next phase follows strong results from Maori Queen and Plantagenet, but the key test will be whether historical grades translate into repeatable mineralisation under Avira’s drilling.

Apollo Minerals has completed a 180-line-kilometre airborne magnetic and radiometric survey over its Couflens tungsten-gold project in France, with the work conducted alongside the French Geological Survey. The data is still being processed, but it could help shape the next phase of exploration, including planned underground drilling at the Véronique zone.

McLaren Minerals has moved its flagship McLaren Titanium Project into bankable feasibility, backed by a 529 million tonne resource and a 663-hole drilling campaign. But the pre-revenue explorer remains reliant on further funding, with the Barossa acquisition still conditional and 118.4 million options issued after year-end.

American Rare Earths has reported broad, near-surface rare earth mineralisation from the first six holes of its 2026 feasibility drilling program in Wyoming. The results are encouraging for geological continuity, but they cover only part of the program and do not yet represent a new resource estimate.

Iltani Resources has reported some of its strongest Orient West drilling results, including a 2-metre intercept grading 2,561 g/t silver equivalent. The company says the latest 16 holes support continuity and could underpin an expanded Mineral Resource later this year.

Megado Minerals has returned a shallow copper-silver intersection from the first hole of its maiden drilling campaign in northern Spain, including 0.25 metres at 1.39% copper and 18g/t silver. Two further holes have been completed but remain unassayed, leaving the broader size and continuity of the mineralisation unresolved.