Latest Resource Estimation News

Bounty Oil & Gas NL (ASX:BUY) is pursuing a 2,322 km² deepwater exploration block offshore Liberia, backed by a $3.55 million placement and major vendor-linked securities. The opportunity remains conditional: the block has no executed production sharing contract, no independent resource estimate and has not yet been reviewed directly by Bounty.

Emerald Resources-backed Manda Resources has completed a suite of North Queensland asset acquisitions, lifting its combined global JORC gold resource to 1.33Moz. The vehicle has started drilling and appointed experienced explorer Tara French as CEO ahead of a proposed ASX listing later in 2026.

Avira Resources is remobilising its RC rig to resume a 4,500-metre drilling program at Mt Cattlin, with first-pass holes planned at the historically high-grade Sirdar and Ellendale prospects. The next phase follows strong results from Maori Queen and Plantagenet, but the key test will be whether historical grades translate into repeatable mineralisation under Avira’s drilling.

Apollo Minerals has completed a 180-line-kilometre airborne magnetic and radiometric survey over its Couflens tungsten-gold project in France, with the work conducted alongside the French Geological Survey. The data is still being processed, but it could help shape the next phase of exploration, including planned underground drilling at the Véronique zone.

Alma Metals has intersected 383.8 metres at 0.25% copper from just 10.2 metres at its Briggs project, including a higher-grade 76.7-metre zone at 0.34%. The result supports the company’s effort to upgrade parts of the resource ahead of a pre-feasibility study, although the intersection remains a downhole measurement and ended in mineralisation.

Five of nine diamond holes at Minrex's Barje deposit have returned the widest and highest-grade intersections drilled there, challenging the historical model of a low-grade central corridor. The results arrive ahead of a maiden JORC resource estimate planned for next quarter.

Legacy Minerals has identified three untested induced polarisation targets at its Rockley project in NSW, led by an 800m zone with chargeability of up to 45mV/V. The priority target sits beneath surface copper, gold and silver anomalies, but drilling remains under consideration rather than committed.

Magnum Mining has completed a 10,000-metre auger programme at its Piracanjuba North ionic adsorption clay rare earths project in Brazil, shifting its focus to a 32.5km² plateau zone. The company is targeting a maiden JORC 2012 Mineral Resource Estimate in November, but the project remains at an early exploration stage with no declared resource or reserve.

Cannindah Resources has reported preliminary NovaCell testwork recovering 94% of copper and 92% of silver at a substantially coarser grind, while rejecting 82% of processed material. The results could support a higher-throughput, lower-energy processing route, although gold recovery and concentrate quality still require further work.

Canterbury Resources has reported a broad copper-molybdenum intercept at Briggs while early core observations suggest its John Hill deposit may extend beyond the current resource boundary. The results support ongoing resource upgrades and feasibility work, but John Hill assays are still pending.

Many Peaks Minerals has extended the tested vertical depth of gold mineralisation at its Ferké project by about 70%, with a deepest intercept returning 40.3 metres at 3.89g/t gold. The results support a planned resource update and preliminary assessment of underground mining, but remain exploration results outside the current resource.

Gold Hydrogen has advanced Ramsay drilling, testing and commercial studies, but its annual report carries a material uncertainty over the company’s ability to continue as a going concern. The pre-revenue explorer ended FY2026 with $9.42 million in cash after spending heavily on exploration.