Latest Mineral Resources And Ore Reserves News

Evolution Mining delivered record FY26 profit, cash flow and dividends as higher metal prices helped push the balance sheet into net cash. The annual report also sets out a sizeable copper growth program, a proposed Carnaby acquisition and the operational risks that could test the next phase.

Kantra Copper delivered a fifth consecutive quarter of higher copper production, with net group cash flow rising 72% to $14.2 million and cash reaching $44.1 million. The ASX-listed miner also began Emily Star development and moved its Coburn project closer to a pre-feasibility study.

Silver Mines has begun its first modern drilling program at the Kramer Hills gold project in California, targeting shallow oxide mineralisation and possible deeper sulphide zones. The 22-hole campaign will test a conceptual exploration target of up to 445,000 ounces, but the project remains well short of a JORC Mineral Resource.

G50 has extended the known strike of its Golconda gold-silver system to more than 1.8km, with shallow high-grade results from the Golden Eagle target. The ASX-listed explorer also finished the quarter with A$25.778 million in cash after a placement backed by Hancock Prospecting.

Cooper Metals has launched a fully underwritten 1-for-4 entitlement issue at 7.5 cents a share to raise up to $2.695 million before costs. Most of the proceeds are earmarked for the Chalterra copper project and its acquisition, while shareholders who do not participate face potential dilution.

PLS has approved the A$1.9 billion P2000 expansion, targeting roughly 2 million tonnes a year of spodumene concentrate from Pilgangoora by 2029. The investment comes alongside a 31% increase in contained lithium reserves and a separate underground growth option.

MGX Resources has reported its first Central Tanami resource statement since acquiring a 50% stake, giving the company an attributable 1.4 million ounces of gold. The shift comes as Koolan Island’s remaining iron ore resources fall to 3.3 million tonnes and its Ore Reserves are reduced to zero ahead of a planned divestment.

Alara Resources’ independently audited reserve statement supports about eight more years of production at its Oman copper mine, with 7.70 million tonnes classified as Probable Ore Reserves. The update also reveals the limits of the mine plan: the licence expires before the scheduled mine life ends, while several technical studies remain unfinished.

49 Metals says every hole in its maiden Gold Mountain campaign intersected gold or silver, including a high-grade 27.4-metre interval and a 170.7-metre broad intercept. A second drilling campaign is now testing whether the Adit Zone has the continuity and scale needed to support a maiden mineral resource estimate in 2027.

Astral Resources has intersected broad, high-grade gold below the current Theia resource pit shell while extending mineralisation about 150 metres south. The results strengthen the exploration case beneath the planned open pit, although a resource or reserve increase has not yet been announced.

Perpetual Resources and adviser GreenMet are assessing several US Government funding and financing pathways for the Nevada Scheelite tungsten project, as Washington prepares tighter defence sourcing rules. The interest is strategic, but no funding has been secured and the project remains without a Mineral Resource or Ore Reserve.

Daly Resources has emerged from its June ASX debut with $11.05 million in cash, a 6,500 km² Northern Territory exploration portfolio and a growing list of drill targets. The catch is familiar for early-stage explorers: the company has yet to define a mineral resource or reserve, while its strongest Huckitta results remain surface sampling rather than drilling.