Latest Resource Estimation News

GBM Resources has extended high-grade gold mineralisation beyond the current resource boundaries at both the 309 and Lone Sister deposits in Queensland. A further 3,550 metres of assays remain pending ahead of a planned Twin Hills resource update.

OD6 Metals has secured A$6.92 million from institutional and sophisticated investors to advance drilling, bulk sampling and resource definition at its Quinn Fluorspar Project in Nevada. The funding also sets up a proposed rebrand to Adaven, but brings dilution and a substantial package of shareholder approvals.

Voltaic Strategic Resources has agreed to acquire five granted Western Australian exploration licences across three gold projects for A$330,000 upfront, with up to A$2 million tied to future Rocky Ridge resource milestones. The deal broadens the explorer’s gold pipeline, but the assets remain at the target-generation stage rather than being defined resources.

PhosCo has extended mineralisation at its DOH prospect and made a new phosphate discovery at Sekarna North in Tunisia. The results are encouraging, but assays remain pending and the reported widths are reconnaissance-stage intersections rather than resource estimates.

Osmond Resources has secured the maximum €250,000 provisional grant in the first round of Spain’s national mineral exploration program, while preparing to start a 13-hole campaign at its Orión project. The company has also issued 85 million shares to retain its 80% interest in the project-owning vehicle.

Famien Resources will sell its West Yilgarn exploration portfolio to Voltaic Strategic Resources for $330,000 upfront, with a further $2 million tied to future gold resource milestones. The deal gives Famien immediate cash while leaving the larger deferred payment dependent on exploration success by the buyer.

Kalgoorlie Gold Mining has identified multiple coherent gold-in-regolith anomalies across the first 225-hole aircore test of its LTZ Flexure target at Pinjin. The strongest exploration signal stretches up to 2km, but primary gold mineralisation at depth remains unconfirmed.

Gold Mountain has secured a 12-month exclusive right to acquire the historical Malhada do Angico tungsten mine in northeast Brazil, for staged consideration of up to R$3 million. The opportunity comes with encouraging but non-representative grab samples, pending approvals and a drilling program still awaiting permits.

Vertex Minerals’ Reward Gold Mine produced 679 ounces in its first production year, but the transition came with a A$16.4 million loss, negative operating cash flow and a formal going-concern warning. The company now faces a narrow window to prove its mechanised mining plan can lift production before debt repayments and further funding decisions bite.

Xstate Resources has secured preferred tenderer status for a 305 square kilometre block in Queensland’s Taroom Trough, with the company set to initially operate a four-party joint venture. The prospective acreage offers exposure to basin-centred gas, associated liquids and light crude, but the licence remains subject to government processes.

Osmond Resources’ preliminary study has put a US$2.31 billion post-tax NPV on its Spanish rare earths and mineral sands project, but the headline economics rest on a scoping-level model and a US$300 million funding requirement. The next test is whether drilling, metallurgy, permitting and financing can turn the attractive concept into a financeable mine.

Unity Metals has extended its Camp stockwork gold discovery in Cambodia by 35 metres to the northeast, with a new hole returning 1 metre at 10.2 grams per tonne gold. The mineralisation remains open at depth and along strike, although a nearby southwest test returned no significant intersections.