Latest Exploration Upside News

GWR Group Limited has progressed its Prospect Ridge Magnesite Project with a detailed technical review and fieldwork, while maintaining a solid cash reserve of $37 million and a $41 million stake in Tungsten Mining NL. The company continues to manage the transfer of Wiluna tenements to Gold Valley amid outstanding state royalties and a payment plan agreement.

Lion Energy has locked in funding and government approval for its Bula Karang-1 well in Indonesia, targeting a September spud, while winding down its hydrogen project to focus on core upstream oil and gas activities.

Arika Resources has locked in $6.55 million through a placement led by Lion Selection Group, which will hold a 6.7% stake, to fund a major drilling campaign at its Yundamindra and Kookynie gold projects in Western Australia.

West Wits Mining has achieved a major underground breakthrough at Qala Shallows, unlocking higher-grade ore zones, while completing a comprehensive ZAR 1.115 billion finance package that underpins its production ramp-up.

Noronex Ltd has secured a major foothold in the US critical minerals sector by acquiring the Sleitat Tin-Tungsten-Silver Project in Alaska, featuring a substantial historic tin estimate and promising exploration upside.

Critica Limited’s recent drilling at the Juno satellite deposit within the Brothers Rare Earth Project has revealed multiple shallow, high-grade rare earth intersections across a 45 km2 area, reinforcing the project’s growth potential and metallurgical compatibility with the flagship Jupiter deposit.

Evolution Mining (ASX: EVN) is set to acquire Carnaby Resources (ASX: CNB) in a $213 million deal that expands its copper production pipeline near Ernest Henry, leveraging existing infrastructure and latent mill capacity.

Cooper Metals has completed its first RC drilling at Mt Isa East, visually spotting copper sulphides, and secured the Pyramid Gold Project through an asset swap, backed by a $979,500 placement.

LinQ Minerals has delivered significant drilling results at its Gilmore Project, confirming a large shallow copper-gold porphyry system at Monza and extending high-grade gold-copper mineralisation at Dam. With a strong cash position and multiple assay results pending, the company is well placed for further exploration.

EV Resources has secured sub-underwriting commitments covering the full $1 million underwritten portion of its $1.52 million rights issue, with key insiders stepping up to back the capital raise.

Orpheus Uranium is gearing up for its first drilling program at the Frome Project while expanding its foothold in South Australia and Western Australia, supported by a solid $6 million cash position.

West Cobar Metals made progress on its Salazar scandium and Cobar West copper projects during the June quarter, while deciding not to proceed with its Baxter Fluorspar acquisition and securing $1.05 million in new funding.