Latest Quartz News

Arika Resources has uncovered new high-grade lodes at the historic Cosmopolitan and Champion mines, including a 19-metre intersection grading 7.99g/t gold. The discoveries headline a 9,000-metre drilling push backed by a $6.55 million placement and fresh government co-funding.

Peako has completed its Saudi Arabian gold portfolio acquisition and identified multiple high-grade surface targets ahead of a maiden RC drilling campaign expected to begin in November. The results are encouraging exploration signals, but remain rock-chip and historical drilling data rather than a mineral resource.

Great Western Exploration has identified zinc-silver-lead mineralisation on the interpreted outer edge of a potential VHMS system at Seymour, near DeGrussa. The company is accelerating permitting for follow-up drilling, although its A$2.35 million cash balance covers an estimated 2.33 quarters at the reported spending rate.

Reach Resources has identified shallow, higher-grade gold zones in grade control drilling at the proposed NW Pit, including 2 metres at 24.6 g/t Au within a broader 7-metre interval grading 7.5 g/t Au. The results largely support the existing resource model while pointing to additional grade and width that could influence mine scheduling.

Black Horse Mining has uncovered a previously unrecorded underground crosscut at Mt Egerton, where face samples returned more than 10 grams per tonne of gold over two narrow intervals. The discovery comes as a silenced drill rig begins testing the project, with A$4.41 million in cash supporting an estimated 5.46 quarters of funding.

Rapid Critical Metals has completed maiden drilling at its Prophet River gallium-germanium project, with visible sphalerite and galena logged in all seven holes. The strongest downhole intervals widened at Pad 2, but laboratory assays will determine whether the visual results contain economic zinc, germanium or gallium grades.

Famien Resources has reported gold mineralisation in most holes from a 3,672-metre RC program at the Bonougbara Trend in Côte d’Ivoire. The explorer is planning geophysical work and follow-up drilling while expanding its permit portfolio and redirecting focus away from Western Australia.

Metal Hawk has reported its strongest Leinster South drilling result to date, including 9 metres at 12.3g/t gold at the Numbat lode. A $1.2 million placement is funding further RC and diamond drilling, with the next assays due in November.

Jacaranda Natural Resources has lodged a replacement prospectus for an $8 million ASX float targeting copper, gold and copper-nickel exploration in Queensland and Botswana. The offer remains conditional, ununderwritten and highly speculative, with the company warning that its ability to continue as a going concern depends heavily on a successful raise.

Unity Metals has identified a broad, open stockwork gold zone at its O’Phlay project in Cambodia, with drilling returning intersections of up to 70.4 metres at 1.1 grams per tonne. The explorer has now started a 3,000-metre follow-up program, backed by a $3.5 million placement and $3.399 million in cash.

BMC Minerals has reported high-grade polymetallic drilling near its proposed Yukon mine, alongside a US$8.6 million quarterly operating cash outflow and five quarters of funding at current spending rates. The company also detailed the secured Wheaton financing arrangement that underpins part of the KZK project’s funding position.

Manhattan Gold has completed its largest-ever Hook Lake drilling campaign, with strong gold results at Jaws and polymetallic sulphide intercepts at Spectre widening the project’s exploration case. But five assays remain outstanding, the next funding tranche still needs shareholder approval, and the company reports only 1.54 quarters of cash coverage on its current spending basis.