Latest Magnetite News

Sunshine Metals is set to transform its gold production profile with the $18 million acquisition of the Mt Moss processing facility and a $22 million capital raise to fund expansion and exploration.

Sierra Nevada Gold (ASX: SNX) advances its As Safra copper-gold project in Saudi Arabia by establishing a local subsidiary and preparing for imminent drilling after securing exploration licences.

American West Metals reported a 20% increase in contained copper at its Storm Copper Project and intersected promising skarn mineralisation in initial West Desert drilling, highlighting significant exploration upside across its North American base metals portfolio.

Lodestar Minerals has confirmed visible copper and IOCG-style mineralisation in its second drill hole at the Three Saints Project, extending the mineralised system over a 700-metre strike length. Drilling is ongoing with assay results expected by early July.

Terra Metals has linked two drill holes to reveal a 172.4-metre continuous zone of platinum group metals, copper, and nickel mineralisation at its Southwest Prospect, Dante Project, with high-grade pockets up to 31.11 g/t PGE3. The system remains open for expansion along strike and at depth.

Grange Resources delivered a steady first quarter in 2026 with solid production at Savage River, no lost time injuries for nearly three years, and progressing financing for its North Pit Underground project.

Vanadium Resources (ASX: VR8) has signed a non-binding offtake term sheet with U.S. Vanadium for 100% of vanadium slag from its Steelpoortdrift V-Iron Plant, while appointing Rand Merchant Bank to secure project financing.

Castile Resources has kicked off pilot plant bench scale testing for its Rover 1 project, integrating a 41% resource upgrade and higher metal prices into its Bankable Feasibility Study. The company also secured $8.4 million in funding and is preparing for exploration drilling amid regional consolidation.

Eastern Resources (ASX:EFE) has activated the farm-in period for its Marengo Gold Project, marking a key milestone with fieldwork planned after Queensland’s wet season. The company maintains steady cash reserves and advances environmental assessments at its Nowa Nowa Iron Project.

Fenix Resources shipped 974,000 tonnes of iron ore in March quarter at a low A$70/wmt cash cost despite cyclone disruptions and diesel supply constraints, boosting cash to A$86.3 million and advancing key projects.

Iron Road Ltd faces headwinds in securing partners for its Central Eyre Iron Project amid market and energy volatility, delays drilling at Mulgathing due to flooding, but reports promising heavy mineral sands results and evolving land option dynamics at Cape Hardy.

Lincoln Minerals (ASX:LML) has received all necessary approvals to begin a significant air core drilling program at its Minbrie Copper Project in South Australia, targeting 17km of prospective copper stratigraphy including 1.7km of untested strike at Eagle Ridge. The company plans at least 40 holes in Q2 2026 to identify key targets for follow-up drilling.