Latest Geological Modelling News

BMC Minerals has intersected significant silver, zinc, gold, copper and lead mineralisation in all nine reported holes at the Rhyolite Peak prospect, 1.2km from its proposed ABM mine. Six further assays are pending as the company moves toward completing its 20,000m 2026 drilling program.

Patriot Resources has completed 38 surface samples at its Tassa silver-gold project in Peru, where mapping identified a 120-metre breccia interpreted as the upper part of a preserved epithermal system. The company is now moving south into the newly acquired Tassa 5 tenement while its maiden drill permit application progresses.

Fulcrum Lithium has staked 41 additional claims around its Alkali Flats project in Nevada and reported up to 79% lithium extraction from acid-free roast and water-leach tests. The results improve on earlier water-leach work, although they remain below the company’s 93% to 96% sulfuric-acid benchmark and come from scoping-level tests.

Xpedra Resources has made Springfield the centrepiece of a sharp shift into New South Wales gold exploration, with drilling outlining broad mineralisation across 400 metres of strike and to at least 150 metres down-dip. The results came alongside a $7.53 million annual loss, $3.09 million in cash and a fresh 44 million-share acquisition of the Neeld Gold Project.

Somerset Minerals reported a $2.17 million statutory profit for 2026, but the result was driven mainly by a gain on divesting its Blackdome-Elizabeth subsidiaries rather than recurring operations. The company’s Coppermine copper campaign delivered strong Jura and Talisker drilling results while its auditor warned that further funding is needed to sustain exploration.

Piche Resources has identified a broad gold-silver system at Toro Hosco in Argentina after completing its maiden 5,911-metre drilling campaign. The exploration progress came alongside a $5.27 million annual loss, $5.22 million operating cash outflow and reliance on post-year-end equity funding.

Australian Critical Minerals has emerged from a transformational year with six new Peruvian projects and early Flint drilling pointing towards a possible concealed porphyry system. But the annual report also flags a material uncertainty over going concern, with further funding required to sustain exploration.

GBM Resources has paired encouraging gold results beyond the existing Twin Hills resource with a substantially stronger balance sheet after a A$40 million placement and convertible-note repayment. The exploration-stage company finished the year with A$31.7 million in cash, but its next resource upgrade still depends on assays and further drilling.

Raptor Metals completed its transformation into a Canadian copper and polymetallic explorer in FY2026, backed by drilling success at Chester and new Bathurst Mining Camp acquisitions. But the company’s $3.28 million loss, $3.97 million operating cash outflow and auditor-flagged funding uncertainty leave the next capital raise as a central investor question.

Krakatoa Resources advanced drilling at its flagship Zopkhito antimony-gold project in Georgia, but the exploration push more than doubled its annual loss and reduced cash to $739,459. The company subsequently raised $4 million, highlighting the funding needed to keep moving towards a maiden JORC-compliant resource.

Emu NL has moved from geological validation at Fiery Creek into a larger drilling campaign at its Yataga Valley copper project, after ending FY2026 with $3.15 million in cash. The progress comes with a material warning: the auditor said the company’s ability to continue as a going concern depends on securing further capital.

Right Resources posted a A$5.16 million loss for FY2026 and warned of material uncertainty over its ability to continue as a going concern, despite A$3.24 million in cash at year-end and a subsequent A$2.94 million capital raise. The explorer is betting that new drilling at Blue and a revised geological model at Pilot can improve the investment case.