Latest Resource Upgrades News

Metal Bank Limited (ASX – MBK) has announced a partially underwritten entitlement offer aiming to raise $2.32 million to fast-track its Western Australia gold projects and explore graphite potential in Queensland. The offer, priced at $0.014 per share, is supported by Equator Capital Management Ltd and targets existing shareholders.

Moab Minerals has upgraded its Manyoni Uranium Project resource by 25%, now totaling 27.19 million pounds of U3O8 at 136ppm grade, with promising shallow mineralisation suited for cost-effective strip mining.

TG Metals Limited has raised $4 million through a strongly supported placement to fast-track drilling and exploration at its Van Uden Gold Project in Western Australia’s Forrestania Greenstone Belt.

Ballard Mining reports strong infill drilling results at its Baldock gold deposit, confirming and refining a high-grade resource and targeting a maiden reserve by mid-2026. The ongoing program highlights potential resource growth beyond current estimates.

Broken Hill Mines reports impressive high-grade silver, lead, zinc, gold, and copper intercepts from its FY26 drilling at Pinnacles Mine, setting the stage for a resource upgrade and potential mine restart.

Ardea Resources has completed a major infill drilling campaign at its Goongarrie South deposit, confirming premium nickel-cobalt-scandium mineralisation that underpins its Definitive Feasibility Study. The results reinforce the project’s position as Australia’s largest nickel-cobalt resource.

QMines Limited has launched a significant 5,000m drilling campaign at its Mount Mackenzie gold and silver project, aiming to unlock substantial resource growth potential following a recent resource upgrade.

Barton Gold has launched an 18,000m drilling campaign at its Tunkillia project to upgrade mineral resources and fast-track a mining lease application by 2026, targeting robust early cash flows from high-value starter pits.

Prospect Resources has reported significant new copper assay results from its Phase 2 drilling at the Kabikupa deposit, extending mineralisation beyond 1km and confirming zones closer to surface and at depth. These findings bolster the Mumbezhi Copper Project’s resource potential ahead of an updated estimate due in Q4 2025.

PVW Resources has secured a binding agreement to acquire three promising gold and silver projects in Nevada and Idaho, alongside a $2.5 million capital raise to fund exploration. The move positions PVW to tap into underexplored US gold districts with historical resources and experienced leadership.

Strata Minerals Limited has secured an option to acquire the Zelica Gold Project in Western Australia, featuring a historical 30,000-ounce gold resource and existing mining infrastructure. The company plans to upgrade the resource and explore near-term extraction opportunities.

Cygnus Metals reports a substantial 78% increase in Measured and Indicated resources at its Chibougamau Copper-Gold Project, highlighted by the initial resource estimate for the new Golden Eye deposit. This milestone underpins an updated economic study amid rising commodity prices.