Latest Resource Upgrades News

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.

Brightstar Resources has delivered broad and high-grade gold intercepts from final infill drilling at Bull Oak, including 167 metres at 2.07g/t gold and a 0.5-metre zone grading 265g/t. The results are intended to support an updated Mineral Resource and the Sandstone project’s pre-feasibility study, although neither has yet been released.

Aldoro Resources has expanded its Kameelburg rare earths, strontium and niobium resource in Namibia to 804.5 million tonnes, including a maiden 162.1Mt Indicated category. The technical progress is substantial, but the annual report also flags a $15.7 million loss, just $78,561 in year-end cash and material uncertainty over ongoing funding.

Adavale Resources is presenting its 610-square-kilometre Parkes Gold Project as a belt-scale opportunity with 383,300 ounces of reported gold resources and existing processing infrastructure. The next test is whether metallurgical work, a scoping study and funding can turn that inventory into a credible development plan.

Mount Ridley Mines has used its FY2026 annual report to put scale and processing progress at the centre of its Grass Patch story, including a post-year-end scandium resource upgrade to 946.1 million tonnes. The company remains loss-making and pre-production, but September testwork reported approximately 92% scandium recovery and average heavy rare earth recovery of about 84%.

GBM Resources has paired encouraging gold results beyond the existing Twin Hills resource with a substantially stronger balance sheet after a A$40 million placement and convertible-note repayment. The exploration-stage company finished the year with A$31.7 million in cash, but its next resource upgrade still depends on assays and further drilling.

Verity Resources has expanded its Monument gold story in Western Australia, but the explorer’s stronger resource base sits alongside a sharply higher annual loss, A$4.67 million operating cash outflow and a material uncertainty over its ability to continue as a going concern. The company finished FY2026 with A$1.05 million in cash and more than A$2.39 million of exploration commitments due within a year.

Axel REE has more than doubled the Woolrich resource to 264.6 million tonnes and delivered its first Indicated classification at the Brazilian rare earths project. The upgrade comes as the loss-making explorer prepares a controlled in-situ recovery field validation program, with A$5.73 million in cash at year-end.

Minerals 260 has emerged from FY26 with a 6.2Moz Bullabulling resource, a maiden 2.5Moz reserve and a pre-feasibility study pointing to a 19-year gold operation. The project is now moving into definitive feasibility, but debt funding, approvals and a final investment decision remain ahead.

Golden Mile Resources has reported broad, high-grade surface gold results at its Aurora prospect in Arizona, including 2.38g/t over about 126 metres. The exploration momentum comes alongside a $2.41 million annual loss, $609,757 in cash and an explicit warning that further funding is required.

Barton Gold has moved deeper into development after raising $40.9 million, completing its largest-ever drilling campaign and ending FY2026 with $31.9 million in cash. The progress came alongside a $22.4 million loss as spending accelerated across Tunkillia, Challenger, Tolmer and Wudinna.

Albright Metals has reported a sharply wider FY2026 loss and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The company’s Canadian Golden Pike project has advanced to a 54,200-ounce JORC resource, but further development depends on funding.