Latest Jorc Mineral Resource News

Advance Metals has extended high-grade silver and polymetallic mineralisation at its Gavilanes project in Mexico, including its strongest silver assay to date. The exploration progress comes with a funding question: the company ended September with A$2.106 million in cash, or an estimated 0.97 quarters of funding, and is discussing a capital raising.

Clara Resources has finalised an initial 25-hole drilling campaign at Mareeba after rock chips returned up to 27.3 g/t gold, but entered October with only A$185,000 in cash. The explorer is relying on a delayed Kildanga sale and the second tranche of a placement to fund its next phase.

Elk Range Mining’s maiden drill hole at the Friday Gold Project returned 290.3 metres at 2.8 g/t gold, including 89.6 metres at 5.5 g/t. The ASX-listed explorer is now advancing its second and third holes, with A$7.19 million in cash and further assays due late November.

Great Divide Mining increased Challenger concentrate production and plant feed rates during the September quarter, but ended with A$433,000 in cash and an estimated 0.9 quarters of funding. The company is relying on higher production, cost control or potential equity funding while advancing Coonambula towards a maiden resource estimate.

Cauldron Energy has completed its 10,506-metre Yanrey drilling campaign, extending uranium mineralisation around Manyingee North and South while preparing an updated JORC resource estimate. The exploration progress comes with a tighter funding position, with $2.43 million in cash and less than two quarters of cover on the company’s stated calculation.

Oceana Metals has more than doubled the known rare earth mineralisation footprint at its Serra Negra project in Brazil to over 4.5 square kilometres, while drilling has accelerated to four rigs. The company has also completed the acquisition of the project, but key assays, mining-right amendments and a maiden resource remain ahead.

Magnum Mining has completed its main Piracanjuba North drilling campaign and narrowed the Brazilian rare earths project to a 32.5 square kilometre priority zone ahead of a maiden resource estimate. The progress comes with a sharper constraint: A$2.0 million in cash covers only about 1.19 quarters at the latest spending rate.

GreenX Metals is moving Tannenberg toward a planned 2027 drilling campaign while completing fieldwork across its expanded Greenland portfolio. The company is also preparing enforcement action over a Poland arbitration award, although key legal decisions remain pending.

Altoro Metals has entered its next exploration phase with A$3.12 million in cash, fresh drilling underway and a planned 2027 resource update. But its annual report records a A$1.45 million loss, an unchanged mineral resource and a material uncertainty over its ability to fund the path from exploration to mine restart.

QX Resources has defined nine drill-ready targets within a conceptual 18–33 million-pound uranium exploration target at its Madaba project in Tanzania. The next test is execution: environmental approvals and administrative clearances must arrive before the company can begin its maiden modern drilling campaign.

Argosy Minerals has completed key process engineering work and lifted the Rincon Lithium Project’s JORC resource to 790,000 tonnes of Li2CO3. The project is technically advancing, but funding, lithium prices and the final DFS remain significant hurdles.

Mindax ended FY2026 with just A$83,116 in cash and a A$2.49 million loss before tax, prompting its auditor to highlight material uncertainty over the company’s ability to continue as a going concern. Post-year-end funding has lifted cash to A$4.079 million, although much of that support remains tied to convertible debt and approvals.