Latest Underground Development News

Kingston Resources has delivered a fresh batch of high-grade polymetallic assay results from underground drilling at its Southern Ore Zone, Mineral Hill, reinforcing the geological model and underpinning near-term underground mining plans.

Haranga Resources has almost finished a 3,270m underground diamond drilling program at its Lincoln Gold Project in California, uncovering visual evidence of gold mineralisation repeating at depth. Assay results and a maiden JORC Mineral Resource Estimate are expected soon, alongside new exploration targets.

SQX Resources continues to impress with thick, high-grade gold intercepts near surface at its Red Bird project in Arizona, reinforcing open-pit potential ahead of further assays and geophysical work.

Magnum Mining and Exploration has verified exceptionally high-grade gold assays up to 178 g/t Au at its Red Breccia target within the Parker Project, Arizona, reinforcing it as a priority drill target alongside Eagle Nest and NSW Detachment. The company is progressing drill permitting with first-pass drilling planned upon approval.

Perenti Limited has secured a 12-month extension of its underground mining services contract with Regis Resources at the Duketon Operations, increasing contract value by approximately A$180 million and extending the term to at least March 2029 without additional capital requirements.

Core Lithium Ltd (ASX: CXO) has awarded a $50 million surface mining contract to NRW Pty Ltd to restart open pit mining at the Grants deposit within its Finniss Lithium Operation, targeting ore production from May 2026 and spodumene concentrate shipments by December.

Grange Resources has released its 2025 Annual Mineral Resource and Ore Reserve Statement for its Savage River operation, reporting only minor declines due to mining depletion and ongoing refinement of underground plans.

Lunnon Metals reports steady progress at its Lady Herial gold mine alongside the discovery of a new gold-bearing structure northwest of the site, highlighting promising potential for future underground mining.

AIC Mines reports significant growth in Mineral Resources and Ore Reserves at its Eloise Copper Mine and Jericho Copper Project, underpinning potential mine-life extensions and production growth.

Variscan Mines’ Scoping Study for the San José Mine restart in Spain reveals strong economics, low upfront capital, and an 11-year mine life, setting the stage for zinc and lead production from 2028.

Vertex Minerals has arranged a A$9 million convertible loan facility to support underground gold production at its Reward Gold Mine, with conversion into shares and options pending shareholder approval.

Core Lithium has taken the final investment decision to restart its Finniss Lithium Project, backed by a $307 million diversified funding package and strategic partnerships. The project targets a 20-year mine life with low operating costs and significant growth potential.