Latest Resource Estimation News

Codrus Minerals has completed its acquisition of EdgeMet, adding copper and molybdenum exploration projects in Queensland and Peru alongside early-stage technology from Rice University. The transaction was funded with 230 million shares, 60 million performance rights and A$100,000 in upfront cash.

Aurum Resources has reported its best-ever grade-thickness intercept at the Boundiali Gold Project, led by 28.8 metres at 22.92 g/t gold from the BST1 deposit. The results are intended to support an early fourth-quarter resource update and a definitive feasibility study due late in 2026.

Kantra Copper has intersected 70 metres at 1.18% copper and 0.24 grams per tonne gold at the Nugent lode, extending mineralisation below its existing resource model. The results arrive ahead of a 2026 Mineral Resource Estimate scheduled for late October.

Marmota has reported multiple high-grade gold intersections from the first assays at Mainwood, the southern extension of its Greenewood discovery in South Australia. Results from only 15 of 84 sections include 4 metres at 15 grams per tonne gold, while drilling and further assays continue.

Terra Metals has reported its largest continuous high-grade reef yet at the Southwest PGM-copper-nickel discovery, with a 336.9-metre intercept among new assay results. Heritage access is now cleared across the drilling footprint, while more than 40,000 assays remain pending ahead of a maiden resource estimate planned for Q1 2027.

Patriot Resources has established a 31.4 million-ounce silver-equivalent inferred resource at its Tassa project in Peru, but the company's annual report warns that further capital raising is required to sustain operations. The explorer recorded a $4.82 million loss and remains dependent on final drilling approvals.

Helios Energy has posted a A$23.1 million FY2026 loss after writing off A$21.35 million in exploration assets. Its Presidio project retains a 17.5 million-barrel-of-oil-equivalent 2C contingent resource estimate, but the company warns that continued operations depend on further funding.

Somerset Minerals reported a $2.17 million statutory profit for 2026, but the result was driven mainly by a gain on divesting its Blackdome-Elizabeth subsidiaries rather than recurring operations. The company’s Coppermine copper campaign delivered strong Jura and Talisker drilling results while its auditor warned that further funding is needed to sustain exploration.

Antimony Resources has moved closer to first production in Mexico, but its FY2026 annual report carries a material going-concern warning after a A$7.0 million loss and sharply reduced cash reserves. The company now faces the harder test of turning its Tecomatlán plant and Los Lirios project into cash-generating operations.

Piche Resources has identified a broad gold-silver system at Toro Hosco in Argentina after completing its maiden 5,911-metre drilling campaign. The exploration progress came alongside a $5.27 million annual loss, $5.22 million operating cash outflow and reliance on post-year-end equity funding.

Tusker Minerals reduced its FY2026 loss, but the improvement was driven largely by a A$4.64 million asset-sale gain rather than mining revenue. The early-stage explorer is concentrating its capital on Cameroon rutile and heavy mineral sands while relying on future funding to maintain momentum.

Barkly Rare Earths has entered its first full year as an ASX-listed explorer with A$5.38 million in cash, a 10,000-metre drilling programme underway and an early 99% magnet rare earth oxide extraction result. The technical signals are encouraging, but both the drilling data and metallurgy remain at an early stage.