Latest Exploration Funding News

Latitude 66 has completed the sale of its 17.5% stake in the Greater Duchess Joint Venture to Carnaby Resources for A$6 million, eliminating debt and boosting funds for exploration.

Pinnacle Minerals has secured a strategic acquisition of eight critical minerals projects in Idaho and Washington, positioning itself at the forefront of the US critical minerals supply chain. The company also raised $3 million to accelerate exploration and development.

Aruma Resources has locked in $3.515 million through a placement to fund targeted exploration across its copper, heavy mineral sands, and uranium projects in Australia. The capital raise, supported by directors and new investors, aims to advance drilling and sampling programs at key sites.

Wildcat Resources has dismissed reports of selling half its Tabba Tabba Project, confirming instead that it is exploring multiple funding avenues to advance the project.

Kuniko Limited has launched fieldwork at its Commonwealth Gold-Silver Project in New South Wales, targeting significant precious metals within the prolific Lachlan Fold Belt. The company aims to validate historical resource estimates and advance exploration alongside its battery metals ventures in Europe.

3D Energi has raised $9.4 million to fund the drilling of its Essington-1 well in the Otway Basin, with Korea National Oil Corporation acquiring a 29% stake in the joint venture alongside ConocoPhillips. Drilling is set to commence in late October 2025.

Western Mines Group has been awarded a $180,000 government grant to fund further drilling at its Mulga Tank nickel project, targeting a promising komatiite mineral system. This funding supports the company’s ongoing exploration efforts to delineate a significant nickel sulphide deposit in Western Australia.

NewPeak Metals has secured 100% ownership of the Las Opeñas gold project in Argentina and plans drilling campaigns at both Las Opeñas and the Tansey gold project in Queensland, funded entirely from existing cash reserves.

QMines Limited has announced a fully underwritten $1.5 million Share Purchase Plan for existing shareholders, complementing a recent $7.5 million placement to fund exploration at its Mt Mackenzie gold and silver project.

Prospech Ltd has successfully closed a fully subscribed $1.6 million rights issue, supplemented by a $546,750 follow-on placement, positioning the company to advance drilling and metallurgical programs in Finland and Slovakia.

DeSoto Resources has partnered with Fortuna Mining to form a $12.5 million joint venture targeting new gold exploration permits in Guinea’s prolific Siguiri Basin. The alliance leverages local expertise and significant funding to pursue large-scale discoveries.

Alma Metals reports steady progress on deep diamond drilling at the Briggs Copper Project, confirming mineralisation consistent with recent models and nearing completion of a key scoping study.