Latest Exploration Milestones News

Terra Critical Minerals has expanded across tungsten, tin and uranium in three mining jurisdictions, but its FY2026 accounts put the funding challenge front and centre. The ASX-listed explorer ended the year with $336,585 in cash and an auditor-flagged material uncertainty over its ability to continue as a going concern.

West Coast Silver has crossed from explorer to resource-stage company after defining 2.795 million ounces of contained silver at Elizabeth Hill. The project has generated strong drilling results and fresh funding, but the company remains loss-making and yet to establish an economic development case.

Lightning Minerals has more than doubled its annual loss after writing off $4.16 million of lithium exploration assets, while its auditor flagged material uncertainty over the company’s ability to continue as a going concern. The ASX-listed explorer is now concentrating its limited resources on Queensland and New South Wales gold and copper projects.

Black Canyon has established a maiden 23.6Mt manganese resource at Wandanya in Western Australia, alongside 12.5Mt of iron mineralisation. The high-confidence estimate includes potential direct-shipping material, while a scoping study is targeted for completion in December.

Mammoth Minerals expanded its Nevada exploration portfolio and drilled more than 21,000 metres at the Buster Trend, but its FY2026 report also highlights a material uncertainty over its ability to continue as a going concern. The company posted a larger loss and remains dependent on future equity funding to sustain exploration.

Miramar Resources has outlined a maiden 39,764-ounce Inferred gold resource at its Gidji joint venture, but its annual report also flags material uncertainty over its ability to continue as a going concern. A September placement has improved liquidity, though further funding and drilling remain central to the story.

Flynn Gold has lodged a prospectus for a one-for-three renounceable rights issue priced at 1.5 cents, offering shareholders a heavily discounted entry point alongside free options. The partially underwritten raise is intended to fund Golden Ridge drilling, a maiden Firetower resource estimate and working capital.

DeSoto Resources has assembled about 1,300 square kilometres of gold tenure in Guinea’s Siguiri Basin, but the expansion came with a A$15.0 million FY2026 loss and a A$6.35 million write-off of Northern Territory exploration assets. The company enters FY2027 with drilling, geophysics and tenure renewals still to convert its large portfolio into a defined resource.

Solstice Minerals has emerged from FY2026 with a larger exploration story, a A$45.3 million liquidity base and drilling that extends Nanadie beyond its existing resource footprint. The company remains loss-making and pre-production, leaving future value tied to resource growth and exploration execution.

Broken Hill Gold has lifted the Vertigo deposit’s Indicated oxide resource by 160% and increased White Dam’s global resource to 118,496 ounces. The company is now testing whether shallow material can support a heap-leach restart while drilling deeper gold-copper sulphide potential.

Parabellum Resources has established a maiden 4.8 million tonne Mineral Resource Estimate at its Miandetta prospect in central NSW, containing 37,000 tonnes of nickel and 1,920 tonnes of cobalt. The shallow resource is a meaningful exploration milestone, but remains preliminary and relies on several conceptual assumptions.

Mandrake Resources has secured the final regulatory approval for a planned 3,200-metre gold-copper drilling programme at its Berinka project in the Northern Territory. Mobilisation is scheduled for October, putting the company’s next exploration milestone within reach.