Latest Mineral Resource News

Prodigy Gold is drilling a deep, untested target at Hyperion while new ore-sorting results strengthen the case for a potential Old Pirate restart. The ASX-listed explorer is also relying on a fully underwritten A$7.92 million entitlement offer after ending the quarter with A$1.95 million in cash and only 1.9 quarters of reported funding.

Connected Minerals says historical drilling at its Bailundo project in Angola has identified broad niobium and rare earth mineralisation, including 205.5 metres at 1.0% Nb₂O₅ and 227.3 metres at 2.0% TREO. The company also has roughly 1,534 metres of historical core left to assess, but the results are not yet a mineral resource.

Nimy Resources has identified a third major gold-in-soil anomaly along its 16km Corporate James Trend, while maiden drilling and ground EM surveys move ahead at the Mons Project. Early Block 3 testwork also returned 84% gallium and up to 95% rare earth extraction, although the work remains at an early technical stage.

Ioneer has pushed the timing of a final investment decision for its Rhyolite Ridge lithium-boron project to an unspecified date, as strategic partner discussions extend into the December quarter. The company ended September with US$54.55 million in cash and reported 12.8 quarters of funding on its current quarterly outgoings.

Barton Gold has delivered more high-grade Tunkillia drilling, cleared an environmental approvals milestone and advanced feasibility work across its South Australian portfolio. The trade-off is a quarterly cash outflow of A$8.5 million, leaving 2.73 quarters of funding on the Appendix 5B calculation.

Kuniko has completed its 2026 drilling campaign at the Commonwealth-Silica Hill project, extending the interpreted Silica Hill mineralised system by about 100 metres and securing 51% ownership ahead of schedule. The exploration progress comes with a funding constraint: the company reported A$1.43 million in cash and 1.43 quarters of available funding at September-end.

Black Horse Mining has uncovered a previously unrecorded underground crosscut at Mt Egerton, where face samples returned more than 10 grams per tonne of gold over two narrow intervals. The discovery comes as a silenced drill rig begins testing the project, with A$4.41 million in cash supporting an estimated 5.46 quarters of funding.

Minerals 260 has strengthened the funding and development position of its Bullabulling gold project, reporting approximately A$600 million of pro forma cash and a definitive feasibility study still targeted for Q1 2027. The company has also completed initial grade-control drilling, expanded its mining tenure and advanced village and water infrastructure.

Alurion Resources has moved its Amargosa bauxite project into a field development program after completing its A$50 million IPO and ASX listing. Drilling, bulk sampling and logistics work are now feeding a direct-shipping-bauxite pre-feasibility study targeted for mid-2027.

Carnaby Resources shareholders have approved Evolution Mining’s proposed scrip acquisition, leaving Court approval as the key remaining hurdle. The September quarter also delivered a 10% increase in Greater Duchess resources, although Carnaby ended the period with $6.4 million in unrestricted cash.

Aruma Resources has agreed to acquire a 90% interest in a patented mineral right at its Tillex project in Ontario, extending the interpreted copper-silver trend by 760 metres. The C$30,000 acquisition adds an untested near-term drilling target while assays from the company’s ongoing Phase 2 program remain pending.

Polymetals Resources fell short of its September production plan as ventilation work and a switch to contract mining disrupted Endeavor Mine operations. The company is betting on the Upper Main Lode and higher December-quarter throughput to restore momentum, but unrestricted cash fell to A$7.4 million after the rehabilitation bond exchange.