Latest Drilling News

Central Petroleum has secured a binding gas sales agreement with the Northern Territory Government, underpinning two new Palm Valley wells that could lift production capacity by around 40%. The deal replaces a prior arrangement and is supported by an expanded loan facility.

Western Yilgarn NL has been granted three exploration licences covering 201 km² in Western Australia's Glenburgh Gold District, identifying seven geophysical targets analogous to nearby multi-million-ounce gold deposits.

Clara Resources has appointed Duncan Gordon as Executive Director, signalling a strategic pivot to accelerate exploration at its Mareeba Gold Project in North Queensland. Former Managing Director Peter Westerhuis steps down but remains as a consultant.

Southern Hemisphere Mining and partner FMR Resources have reported broad gold-copper-molybdenum mineralisation at the Southern Porphyry target in Chile, confirming a large porphyry system. Despite fertile intrusive phases intersected, the mineralised core remains elusive, setting the stage for targeted Phase II drilling.

Horizon Oil’s Letter of Intent with Power and Water Corporation for a new Mereenie gas sales deal has expired without replacement, prompting a suspension of planned infill drilling and a notable cut to capital expenditure forecasts.

EV Resources (ASX: EVR) pushes forward its Mexico Antimony Hub with 11 diamond drill holes completed at Los Lirios, a new near-surface vein discovered, and Tecomatlán plant refurbishment progressing toward a 2H 2026 start.

Solstice Minerals has successfully closed a $32.6 million placement and raised an additional $0.81 million through option exercises, issuing nearly 35 million new shares now available for immediate trading.

Echelon Resources' Palm Valley Joint Venture has locked in a gas supply agreement with the Northern Territory government, enabling drilling of two new wells to restore production capacity by mid-2026.

MinRex Resources has finalized its merger with Electrum Discovery, creating a well-funded ASX-listed explorer with advanced gold and copper projects in Serbia and Australia. The deal brings Electrum’s Tlamino Gold Project and Timok East Copper-Gold targets into MinRex’s portfolio, alongside its existing Sofala Gold Project in New South Wales.

Power Minerals has completed due diligence on the Morro do Ferro rare earths project in Brazil, revealing exceptional magnetic rare earth oxide grades that underpin plans to finalise acquisition and ramp up exploration.

Eclipse Metals’ 2025 drilling at Grønnedal reveals broad rare earth mineralisation from surface, with multiple zones exceeding 1% TREO and a strong Nd-Pr magnet rare earth profile, reinforcing the project’s strategic importance.

Red Sky Energy has locked in a binding agreement with Santos to drill the Willowie appraisal well in South Australia’s Innamincka Dome, aiming to build on recent production gains and accelerate cashflow.