Latest Porphyry Systems News

Antilles Gold initiates a $650,000 share placement to fund working capital and prepare for a major $29.5 million EPC contract with Xinhai Mining, advancing the Nueva Sabana copper-gold mine development in Cuba.

FMR Resources has completed a joint venture to earn a majority interest in a promising Chilean copper-gold project and raised $2.2 million, positioning itself for drill-ready exploration in late 2025.

Magmatic Resources and Fortescue have agreed on a $3.5 million exploration budget for FY25-26 at the Myall Project, focusing on extensive drilling to unlock copper-gold potential. Early results highlight promising mineralisation at the Calais prospect, setting the stage for accelerated exploration.

Australasian Metals has identified a significant silicified breccia zone linked to strong geophysical anomalies at its May Queen Gold Project, prompting plans for a substantial drilling campaign.

Riversgold Ltd advances its Kalgoorlie East gold project with new drilling approvals and strong metallurgical recoveries, while Canadian exploration yields impressive copper and antimony assays.

Cannindah Resources has completed its initial 2025 drilling program at Mt Cannindah, revealing promising extensions to its copper-gold breccia resource and identifying new porphyry targets that could significantly increase the project’s scale.

American West Metals reports promising drilling results at its Storm Copper Project and advances critical minerals exploration in Utah, backed by strategic funding and offtake agreements.

Sultan Resources advances exploration in NSW’s Lachlan Fold Belt with promising gold-copper targets while managing a modest capital raise and reviewing WA assets.

Magmatic Resources has secured the Weebo Gold Project in Western Australia and reported encouraging copper-gold drill results at its Myall Project, maintaining a robust cash position of $4.7 million.

Blackstone Minerals has completed its merger with IDM International, acquiring the high-grade Mankayan Copper-Gold Project in the Philippines and reporting promising deep drill results. The company also raised $22.6 million to accelerate exploration.

Belararox Limited reports promising broad copper mineralisation from Phase 1 drilling at its TMT Project in Argentina and significant exploration progress in Botswana’s Kalahari Copper Belt, supported by a strong cash position and strategic board changes.

Superior Resources Limited has expanded its copper exploration strategy to include high-grade copper-gold targets alongside porphyry prospects, while progressing the Steam Engine Gold Project towards early production within two years.