Latest Polymetallic News

Advance Metals has recorded its strongest silver assay yet at the Gavilanes Project in Mexico, with drilling also returning the project’s highest-grade zinc-lead interval. The mineralised system remains open at depth and to the southwest, while metallurgical work and further drilling target a maiden JORC resource in the December quarter of 2026.

Novo Resources is positioning a A$8 million cash balance and A$37.54 million investment portfolio behind a broad Australian gold, copper and polymetallic exploration push. The strategy brings several drilling catalysts, but also a A$10 million deferred payment due in December and a heavy reliance on future exploration success.

Catalina Resources has executed the mining lease transfer for its Nelson Bay River project, paving the way for up to $1.29 million in rehabilitation security to be recovered. The company plans to redirect the capital into November drilling at its Kirkalocka gold and Tallering tungsten projects, subject to final heritage clearance and regulatory steps.

Lightning Minerals says reconnaissance sampling has expanded the Warby Project’s interpreted tungsten system well beyond its World War I-era workings, with rock chips grading up to 5.5% tungsten. The company has fast-tracked further soil sampling to define the anomalies before selecting maiden drill targets.

QMines is spending $2.388 million on two freehold properties that remove a key access constraint over the Botos deposit near Mt Chalmers. The acquisition clears the way for modern drilling, but the deposit remains an untested conceptual opportunity rather than a defined resource.

Alchemy Resources finished FY2026 with a sharply wider loss, lower cash and a smaller asset base, even as drilling delivered strong copper-gold results at Yellow Mountain and high-grade iron results at Valley Bore. The explorer has reshaped its portfolio, but its next phase still depends on exploration success and further funding.

Maronan Metals has reported broad and high-grade silver-lead intersections from its ongoing 40,000-metre infill program, including 11 metres at 10.3% lead and 116g/t silver. More than 15,000 metres have now been completed, with results feeding a planned 2027 resource update and pre-feasibility study.

NewPeak Metals will begin a minimum 1,000-metre Phase 2 diamond drilling program at Las Opeñas in Argentina in mid-October, targeting a potentially gold-richer zone west of its recent long intercepts. The campaign is funded from the company’s completed placement, but the higher-grade western extension remains untested.

Red Mountain Mining has reported widespread tungsten mineralisation from surface sampling at its Pioneer project in Montana, including results of up to 0.55% WO3. The expanded 517-hectare project also returned high-grade copper, silver and gold assays, setting up further fieldwork before potential drilling.

Lode Resources has identified a new polymetallic lode at its Montezuma project in Tasmania, with a narrow interval returning exceptional tin, copper, silver, antimony, gold and lead grades. Three further mineralised zones from the same hole remain awaiting assays, while follow-up drilling is already underway.

Lion Selection Group (ASX:LSX) increased its investment portfolio by 19% to A$108.2 million in FY2026, even as net profit fell 77% to A$8.9 million after an exceptional prior year. The resources investor enters the new year with A$36 million in cash and term deposits, but remains exposed to volatile junior mining valuations and unresolved litigation.

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.