Latest Ore Reserve News

Alkane Resources has lifted group Ore Reserves to 1.374 million ounces after exploration and resource conversion replaced depletion across its operating portfolio. The FY26 update also puts Björkdal’s open-pit restart and Costerfield’s extended mine life into sharper focus.

Maritana Minerals has increased the Burbanks Gold Project’s Mineral Resource by 62% to 755,000 ounces, pushing group resources above 2 million ounces. The growth is concentrated at Burbanks North, but the inventory remains predominantly Inferred and has yet to support an Ore Reserve.

Great Dirt Resources has identified 24 priority manganese targets in New South Wales and confirmed rock-chip grades of up to 51.8% manganese. The exploration progress came alongside a $19.1 million FY2026 loss, largely caused by a non-cash share-based payments expense, while cash rose to $3.81 million.

New Age Exploration reported its strongest exploration results to date across three projects, including a 11.0 g/t gold intercept at Wagyu and a new mineralised zone at Lammerlaw. But the explorer’s $4.21 million loss, $2.48 million impairment and auditor-flagged going concern uncertainty leave its next drilling campaign dependent on further funding.

Kingsgate Consolidated has increased Nueva Esperanza’s Ore Reserves by 31% for silver and 37% for gold, extending the assumed reserve life beyond 12 years. The gains are largely driven by higher price assumptions and lower royalties rather than new drilling.

Challenger Gold has set early 2029 as the target for commercial production from a stand-alone heap leach operation at its Hualilán project in Argentina. The roadmap brings engineering, drilling and financing into sharper focus, but still depends on a US$15 million debenture refinancing and a much larger project funding package.

Latitude 66’s KSB project has returned a striking preliminary economic case, with a post-tax NPV8 of US$485 million and an 85% IRR at a US$3,500 per ounce gold price. The opportunity remains unbuilt, unfunded and subject to further study, permitting and a production target containing 10% Inferred Resources.

Ora Banda Mining has begun underground development at Waihi in Western Australia, where drilling has returned intersections of up to 1.6 metres at 65.9 g/t gold. The mine is scheduled to deliver first underground ore in mid-2027, ahead of the company’s planned 3.0 Mtpa Davyhurst processing plant.

Aeris Resources delivered FY26 production within guidance while building a much larger investment program around Tritton, including the Constellation and Mallee Bull developments. The company enters FY27 with no debt, $202 million in cash and receivables, and a sharper test of whether higher spending can convert expanded resources into longer mine life and production.

VHM has taken Goschen from a permitted project to a more financeable development, with Iluka committing to buy all planned rare earth concentrate and providing A$40 million in convertible note funding. The company remains pre-revenue, has not made a Final Investment Decision and will need further funding before construction can begin.

EV Resources has moved its Tecomatlán plant from integration into live proof-of-concept processing, with 200 metric tons of antimony ore delivered and crushing underway. The company is now targeting its first marketable antimony concentrate, although plant-scale performance remains unproven.

Westgold Resources has outlined a fully funded plan to lift gold production to 460-510koz by FY29 while reducing AISC to A$2,640-A$3,000/oz. The formal outlook excludes its potentially transformative Fletcher Zone, leaving a sizeable but still conceptual growth option beyond the plan.