Latest Underground Drilling News

Kingston Resources faces a major operational setback with the Pearse South open pit failure, prompting a strategic pivot to underground resource expansion and a $12.9 million capital raise to fund a 25,000m drilling campaign.

Black Cat Syndicate delivered a transformational FY26, doubling gold output to 90,833oz and generating a record $77M operating cashflow in the June quarter, fully recouping its $106M Paulsens acquisition costs.

Cobre Limited’s Sierra Atacama project delivers first consecutive positive operating cash flow months, while a major drilling program and $90 million capital raise set the stage for growth.

Aeris Resources delivered a standout FY26 with a 78% EBITDA surge to $285 million, boosted by strong copper and gold production and a major expansion of its Tritton Ore Reserves. The company also completed its Peel Mining acquisition and kicked off early works at the Constellation Project.

Develop Global (ASX:DVP) posted a record June quarter with Woodlawn copper-zinc production up 47%, supported by a US$400 million Trafigura financing deal that underpins its Sulphur Springs and Pioneer Dome projects.

Bellevue Gold Limited delivered a record 143,539 ounces in FY26, surpassing guidance midpoint, and raised FY27 production targets to 150,000-170,000 ounces. The company is advancing paste plant construction and expanding exploration while reducing hedge commitments and maintaining strong liquidity.

Capricorn Metals has transformed its Mt Gibson Gold Project with a new underground mine, lifting annual production to 260,000 ounces and extending mine life to over 19 years, backed by a robust $6.1 billion NPV.

Nelson Resources has kicked off underground drilling at its high-grade Orleans Mine while advancing rehabilitation at Great Western Mine and securing a strategic tungsten property adjacent to a major US project. Exploration spending reached $794k, supported by a $2.1 million cash buffer.

Krakatoa Resources is pushing its 2026 drilling program at the Zopkhito Antimony-Gold Project two months ahead of schedule, advancing toward a maiden JORC-compliant mineral resource estimate with multiple technical workstreams underway.

Rox Resources has secured full permits and major contracts to push forward construction at Youanmi, with mining and processing plant works advancing towards a mid-2027 gold pour.

Polymetals Resources continues to confirm substantial high-grade silver-lead-zinc mineralisation at the Endeavor Mine's upper Main Lode, progressing towards a new Mineral Resource estimate.

Rox Resources (ASX: RXL) is on track to become a significant gold producer with its Youanmi Gold Project, backed by a robust Definitive Feasibility Study and full funding. The project targets 117kozpa initially, with ambitions to surpass 150kozpa through ongoing exploration and development.