Latest Underground Development News

FireFly Metals has secured C$25.8 million through a Canadian bought deal and an A$46 million Australian equity raise to fund expansion and exploration at its Green Bay Copper-Gold Project in Newfoundland.

Vertex Minerals confirms fully developed, accessible stope blocks at its Reward Mine, featuring a high-grade inferred resource that promises to accelerate underground production start-up.

Black Cat Syndicate reports robust operational progress at its Kal East Gold Operation, surpassing expectations at the Lakewood processing facility and achieving early cash flow positivity at the Myhree open pit. Development activities at Majestic and Fingals advance as the company expands production capacity.

Meeka Metals is on track to commission its upgraded processing plant at the Murchison Gold Project by June 2025, aiming for first gold production shortly thereafter. The company has also expanded its workforce accommodations and advanced underground mine preparations.

Develop has initiated significant underground and surface infrastructure works at its Sulphur Springs zinc-copper project in Western Australia, setting the stage for an updated feasibility study and de-risking the project’s development.

Black Cat Syndicate reports promising underground drilling results at its Paulsens Gold Operation, with development progressing faster than planned in the newly targeted Gabbro Veins. The company is poised to ramp up production as exploration continues.

Coolabah Metals Limited is set to transform into a producing miner with its $15-20 million capital raise, conditional on acquiring Broken Hill Mines Pty Ltd and resuming ASX trading.

Altamin Limited has reported the final tranche of high-grade zinc-lead-silver assay results from its 2024 channel sampling at the Gorno Project, revealing mineralisation beyond current resource boundaries. These findings highlight new zones in previously inaccessible areas, reinforcing the project's exploration potential.

Kingston Resources has agreed to sell its Misima Gold-Silver Project for $95 million, bolstering its balance sheet to accelerate growth at the Mineral Hill gold-copper operation. The transaction positions Kingston to expand production and exploration in the southern Cobar Basin.

Aguia Resources has initiated a 25-hole diamond drilling campaign at its Santa Barbara Gold Project in Colombia, aiming to define a maiden JORC resource and explore extensive vein systems.

Patronus Resources has confirmed the down-plunge continuation of high-grade gold mineralisation at its Koi Exploration Target within the Cardinia Gold Project, supporting a substantial Exploration Target and reinforcing growth potential below the Mertondale 3-4 deposit.

Vertex Minerals has raised approximately A$11 million to accelerate underground mining at its high-grade Hill End Gold Project, targeting production by July 2025. The capital raising includes a share placement, convertible loan, and a Share Purchase Plan, positioning the company for strong margins amid a robust gold price environment.