Latest Underground Development News

Medallion Metals has identified a significant new sulphide lode, Hillsborough Deeps, beneath the Gem deposit at Kundip, with drilling and electromagnetic surveys indicating strong potential for resource expansion.

Perseus Mining has boosted its on-market share buy-back program by A$50 million to A$150 million, reflecting confidence in its balance sheet and cash flow generation while maintaining funding for organic growth.

Vault Minerals is on track to meet FY26 production targets with a strong focus on expanding its King of the Hills operation and progressing a merger with Regis Resources, positioning itself as a senior gold producer.

Vault Minerals has submitted a fully certified Closure Plan Amendment for its Southern Tailings Management Facility, marking a regulatory milestone that supports a planned restart of underground development in Q1 FY27 and gold production in Q1 FY28 at Sugar Zone, Ontario.

Kingston Resources stops mining at Pearse South after a second geotechnical failure, pivoting to a major underground drilling program and launching a $11.6 million capital raise to underpin a long-term expansion at Mineral Hill.

West Cobar Metals (ASX: WC1) has struck a deal to acquire the Baxter Fluorspar Project in Nevada, a site with a rich history of premium acid-grade fluorspar production. Backed by a $1.05 million placement, the acquisition positions WC1 within a critical US supply chain for fluorspar, a mineral vital for semiconductor and defence industries.

Mithril Silver and Gold has delivered compelling drilling results at its Copalquin project in Mexico, highlighting significant high-grade gold and silver intercepts that underpin an imminent resource update.

Develop Global has greenlit major investments in its Sulphur Springs copper-zinc and Pioneer Dome lithium projects, backed by a US$400 million financing and offtake deal with Trafigura that also refinances Woodlawn.

Core Lithium has secured a second sale of 25,000 tonnes of lithium fines from its Finniss stockpile to Glencore, adding to A$28.5 million in revenue for 2026 and supporting ongoing development at Finniss.

Rox Resources has secured a fixed-cost EPC contract for its Youanmi processing plant while accelerating underground mining fronts and stockpile development, keeping first gold pour on track for mid-2027.

Resolute Mining’s Syama gold mine in Mali faces production setbacks in Q2 2026 due to security-driven logistical disruptions, pushing output below forecast while maintaining full-year guidance near the lower end.

Medallion Metals confirms continuity of high-grade gold mineralisation beneath Lounge Lizard open pit, advancing geological models and targeting a maiden resource estimate by Q3 2026.