Latest Mineral Resources And Ore Reserves News

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.

PC Gold will acquire the last third-party mining leases inside its Spring Hill development area, adding a water licence and operating rights for A$6.5 million. The deal could simplify mine planning and approvals, but still requires Northern Territory ministerial approval and does not add a reported resource.

Burley Minerals has confirmed shallow Channel Iron Deposit mineralisation across the North and Step-Out Targets at its Cane Bore project, with assays averaging 50.6% Fe across reported intersections. The mineralisation remains open northeast and southwest, but further drilling, metallurgy and approvals are still required before any resource can be defined.

Helix Resources is shifting its exploration focus from Arizona towards Pilbara gold after a year of acquisitions, portfolio reassessment and a narrowed annual loss. The strategy reset comes with only $83,676 in cash, a stated need for further funding and a proposed Mosquito Creek acquisition awaiting shareholder approval.

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.

Black Rock Mining has advanced early works at its Mahenge graphite project, but the annual report warns that securing approximately US$298 million of project funding by November is critical to its survival as a going concern. The company ended FY2026 with A$4.7 million in cash and an A$7.6 million net loss.

Aurora Energy Metals (ASX:1AE) swung to a $21.8 million profit after selling its Oregon uranium project, but the result was driven largely by a non-cash accounting gain. The company’s concentrated Eagle Nuclear Energy stake was valued at about $15.5 million by the annual report date, down from $23.9 million at 30 June.

Viking Mines has repositioned itself around Nevada tungsten, with Linka producing a 56.9% WO₃ concentrate at 76.0% recovery and gaining approval for a 63-hole maiden drilling programme. The opportunity is advancing, but the company remains loss-making, has no JORC resource at Linka and will need further funding as work accelerates.

Apollo Minerals ended 2026 with A$7.74 million in cash and no debt after raising A$9.3 million, but remains a loss-making explorer with no JORC Mineral Resources or production. The company is now concentrating its exploration story on the reinstated Couflens tungsten-gold project in France, while carrying a conceptual zinc-lead target in Gabon.