Latest Resource Estimates News

Condor Energy has consolidated 100% ownership of its offshore Peru acreage and moved its 1 Tcf Piedra Redonda gas discovery closer to commercialisation. The company enters FY2027 with a larger resource base and stronger project control, but auditors have warned that additional funding is needed to sustain operations.

Skylark Minerals has pushed its Côte d’Ivoire gold strategy forward, with M’Basso now extending across about 2km of strike. But the annual report also highlights a material uncertainty over funding, after the company ended the year with A$4.85 million in cash and a A$3.01 million loss.

Sky Metals has used FY2026 to move Tallebung from exploration toward development, combining more than 500 drill holes with strong ore-sorting results and progress into NSW’s environmental approval process. The advance came alongside a A$5.37 million loss and continuing reliance on equity funding.

Eastern Resources has placed its Queensland Marengo Gold Project at the centre of its exploration strategy after 54 of 60 rock-chip samples returned more than 0.1 ppm gold, including a peak of 12.3 ppm. The company remains an early-stage explorer, with no JORC Mineral Resource yet defined and A$3.27 million in cash at year-end.

Omega Oil & Gas has been selected as preferred tenderer for 1,138 square kilometres of new Taroom Trough acreage, taking its operated position to 2,947 square kilometres. The award remains subject to Queensland Government processes, but would materially enlarge the company’s exploration inventory alongside Beach Energy and Tri-Star E&P.

Legacy Minerals has appointed WSP to assess scandium at its 100%-owned NiCo Young project, potentially adding a third critical mineral to a 167.8Mt inferred nickel-cobalt resource. The combined JORC update is expected in October, but no scandium resource has yet been established.

Western Gold Resources has sharply expanded the proposed Gold Duke mine, lifting its production target by 62% and forecasting A$72.9 million in operating surplus. The preliminary study is stronger on paper, but still depends on funding and the restart of toll treatment at Wiluna.

Pilbara Gold has reported strong initial drill results from the Terra Prospect at Roe Hills, including 46 metres at 3.17g/t gold and a narrower high-grade hit of 4 metres at 9.91g/t. The results extend evidence of a mineralised corridor at least 1.5km long, although substantial drilling and follow-up work remain.

Taruga Minerals has identified a new northeast-trending gold-copper zone at Uaroo Ridge in Western Australia, led by a rock chip grading 1.4g/t gold and 4.3% copper. The result expands the prospect’s exploration footprint, but remains an early-stage surface sampling result with no drilling or resource estimate.

Solstice Minerals has extended copper-gold mineralisation beyond Nanadie’s current resource boundary, while downhole electromagnetic surveying has identified a 140m by 140m conductor scheduled for immediate drilling. The results add momentum to a three-rig campaign, but the resource itself remains unchanged.

Prospect Resources has expanded drilling at Nyungu Central after returning a 27-metre copper intercept outside the existing resource, while maiden drilling at Sharamba confirms a new copper discovery. The results add momentum to Mumbezhi’s growth story, but most Phase 3 assays remain outstanding and no resource update has yet been made.

Ordell Minerals has reported broad shallow gold intersections from the first 11 holes of a 122-hole infill program at McNabs East in Western Australia. The results strengthen the case for a maiden resource in the December 2026 quarter, although most assays and the key resource work remain outstanding.