DRR: Corporate Presentation - October 2026
Original announcement by asx on
- Company
- Deterra Royalties Limited
- Ticker
- DRR
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Unavailable
- Secondary commodities
- Iron ore, Lithium, Copper, Mineral sands, Zinc, Gold, Silver, Molybdenum, Lead
- Document categories
- Other, Agreement transaction, Resource update, Metallurgy
- Extracted
- 2026-10-18 22:26:32 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Deterra Royalties presented a corporate overview highlighting its diversified portfolio of royalty assets, strong financial performance for FY26, and strategic growth initiatives. Key updates include the recent acquisition of a royalty over the Santa Cruz Copper Project for US$74.15 million and significant de-risking and expansion of the Thacker Pass Lithium Project, which saw its mine life and reserves double following an updated NI 43-101 technical report. The company emphasizes its low-risk royalty model, high margins, and commitment to shareholder returns through dividends.
Reasoning: The corporate presentation highlights robust financial results, strategic acquisitions, and significant growth and de-risking of core assets, positioning the company for continued expansion and strong shareholder returns, despite some non-JORC reporting standards and royalty buyback clauses.
Positive factors
- Strong financial performance for FY26 with A$164m NPAT and 94% EBITDA margin.
- Strategic acquisition of Santa Cruz Copper royalty for US$74.15 million, adding a new core asset.
- Significant de-risking and expansion of Thacker Pass Lithium Project, with mine life and reserves doubling.
- Diversified portfolio of long-life, low-cost assets in tier-one jurisdictions.
- Strong balance sheet with A$250m undrawn credit facilities and 75% dividend payout ratio.
Negative factors
- Some key resource estimates (Thacker Pass, Santa Cruz) are not JORC compliant, using NI 43-101 or S-K 1300.
- Sonora Lithium Project concessions are under dispute, creating uncertainty.
- Thacker Pass and Santa Cruz royalties include buyback options, which could reduce future revenue streams.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 96
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document details an updated NI 43-101 for Thacker Pass, doubling mine life, LCE pathway, and reserves/resources, and provides current resource/reserve figures for Santa Cruz.
Evidence · text
“Updated NI 43-101 (Technical Report) supporting: Doubling mine life to 85 years from 40 years; LCE Pathway to 160ktpa from 80ktpa; > doubling Reserve (to 14.3Mt LCE from 3.7Mt LCE) and Resource (to 44.5Mt LCE from 16.1Mt LCE)”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Thacker Pass reserves more than doubled to 14.3Mt LCE from 3.7Mt LCE, and resources more than doubled to 44.5Mt LCE from 16.1Mt LCE.
Evidence · text
“> doubling Reserve (to 14.3Mt LCE from 3.7Mt LCE) and Resource (to 44.5Mt LCE from 16.1Mt LCE)”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Thacker Pass and Pukaqaqa resource estimates are prepared using NI 43-101 regulations.
Evidence · text
“The Mineral Reserve and Resource estimates have been prepared using the National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators”
Historical Estimate Onlynegative
Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
Why it applies: Several resource estimates (Thacker Pass, Santa Cruz, Sonora, Wonnerup, Pukaqaqa) are explicitly stated as 'Non-JORC' and prepared using other standards like NI 43-101 or S-K 1300, indicating they are not compliant with JORC.
Evidence · text
“The Mineral Reserve and Resource estimates are not reported in accordance with the JORC Code. The Mineral Reserve and Resource estimates have been prepared using the National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators and the S-K 1300 regulations for the US Securities Act of 1933. Accordingly, the Mineral Reserve and Resource estimates are not, and do not purport to be, compliant with the JORC Code”
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: The Paradox DFS is from 2022, Antler PFS from 2024, Sonora FS from 2017, and Lincoln PEA from 2015, indicating these are not recent estimates.
Evidence · text
“Paradox DFS (2022)1 Utah Lithium 2.5% NSR”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The Santa Cruz project reports its current Mineral Reserves and Resources, which are presented as new information in the context of the acquisition.
Evidence · text
“Current Mineral Reserves, including outside DRR royalty area: ~1.5 million tonnes contained copper at average grade of 1.08%Cu”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The Lincoln project's estimate is from a PEA (Preliminary Economic Assessment) in 2015.
Evidence · text
“Lincoln PEA (2015) California Gold 0.75% NSR (net)”
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The Antler project's estimate is from a PFS (Pre-Feasibility Study) in 2024.
Evidence · text
“Antler PFS (2024) Arizona Copper / Zinc 0.9% NSR + 0.45% AOI, with partial buyback”
Pilot Scale Completepositive · Story-specific tag
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: Thacker Pass is targeting mechanical completion and ramp-up, and Paradox is commencing operation of a demonstration plant, indicating advanced test work.
Evidence · text
“Mechanical completion / ramp up to capacity of 40ktpa LCE”
Refractory Orenegative · Story-specific tag
Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk.
Why it applies: The Sonora Lithium Project concessions are under dispute, indicating potential issues with project viability or permitting.
Evidence · text
“In August 2023, the General Directorate of Mines in Mexico issued a formal notice indicating nine of the lithium concessions underpinning the Sonora Lithium Project were cancelled. This matter remains under dispute”
Extracted facts
Stored fact records: 33. Some facts used in scoring do not have a stored record.
Resource Estimates (29)
indicatedSanta Cruz · copperTonnes: 1400000Grade: 0.79Grade Unit: %View all detailsHide details
Identity
- Project
- Santa Cruz
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-23T00:00:00.000Z
- Reporting standards
- sec_sk1300
- Resource group id
- resource:f963ff0df25ee1a3268d
Resource Data
- Category
- indicated
- Tonnes
- 1400000
- Grade
- 0.79
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-09-23
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Santa Cruz project reports a significant Indicated Mineral Resource of 1.4 million tonnes of contained copper at 0.79% Cu, providing a solid base for future studies, though it is not JORC compliant.
Positive factors
- Indicated resource category provides reasonable geological confidence.
Negative factors
- Resource estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Indicated: ~1.4 million tonnes contained copper @ 0.79% Cu”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredSanta Cruz · copperTonnes: 200000Grade: 0.73Grade Unit: %View all detailsHide details
Identity
- Project
- Santa Cruz
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-23T00:00:00.000Z
- Reporting standards
- sec_sk1300
- Resource group id
- resource:37e65f4d3cef2584cbe4
Resource Data
- Category
- inferred
- Tonnes
- 200000
- Grade
- 0.73
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-09-23
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Santa Cruz project reports an Inferred Mineral Resource of 0.2 million tonnes of contained copper at 0.73% Cu, which is a speculative category and not JORC compliant.
Negative factors
- Inferred resource category has lower geological confidence.
- Resource estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Inferred: ~0.2 million tonnes contained copper @ 0.73% Cu”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenSanta Cruz · copperTonnes: 140000000Grade: 1.08Grade Unit: %Contained Metal: 1.5Contained Unit: mtView all detailsHide details
Identity
- Project
- Santa Cruz
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-09-23T00:00:00.000Z
- Reporting standards
- sec_sk1300
- Resource group id
- resource:dabcde9e0b0177c9a1e3
Resource Data
- Category
- proven
- Tonnes
- 140000000
- Grade
- 1.08
- Grade Unit
- %
- Contained Metal
- 1.5
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-09-23
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Santa Cruz project reports substantial Mineral Reserves of 1.5 million tonnes contained copper at an average grade of 1.08% Cu, supporting a 24-year mine life, though it is not JORC compliant.
Positive factors
- Significant contained copper in Mineral Reserves indicates economic viability.
- Average grade of 1.08% Cu is strong for a copper project.
Negative factors
- Reserve estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Current Mineral Reserves, including outside DRR royalty area: ~1.5 million tonnes contained copper at average grade of 1.08%Cu”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
provenThacker Pass · lithiumTonnes: 14300000Grade Unit: LCEView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Effective date
- 2024-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- Resource group id
- resource:9f19ce4ed32e73ed91ec
Resource Data
- Category
- proven
- Tonnes
- 14300000
- Grade Unit
- LCE
Prior Estimate
- Resource Date
- 2024-12-31
- Prior Tonnes
- 3700000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Thacker Pass Lithium Project's reserves more than doubled to 14.3 Mt LCE from 3.7 Mt LCE, a highly positive and material update from the NI 43-101 technical report, significantly de-risking the project.
Positive factors
- Significant increase in reserves, more than doubling the prior estimate.
- Updated NI 43-101 technical report provides increased confidence.
- Reserves are a high-confidence category, supporting economic studies.
Negative factors
- Reserve estimate is not JORC compliant, using NI 43-101 and S-K 1300.
Evidence · text
“> doubling Reserve (to 14.3Mt LCE from 3.7Mt LCE)”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 14300000 against 3700000 previously
inferredThacker Pass · lithiumTonnes: 44500000Grade Unit: LCEView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Effective date
- 2024-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- Resource group id
- resource:0b972d6a8dd280132a97
Resource Data
- Category
- inferred
- Tonnes
- 44500000
- Grade Unit
- LCE
Prior Estimate
- Resource Date
- 2024-12-31
- Prior Tonnes
- 16100000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Thacker Pass Lithium Project's resources more than doubled to 44.5 Mt LCE from 16.1 Mt LCE, a highly positive and material update from the NI 43-101 technical report, indicating significant growth potential.
Positive factors
- Significant increase in resources, more than doubling the prior estimate.
- Updated NI 43-101 technical report provides increased confidence.
Negative factors
- Resource estimate is not JORC compliant, using NI 43-101 and S-K 1300.
Evidence · text
“and Resource (to 44.5Mt LCE from 16.1Mt LCE)”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 44500000 against 16100000 previously
provenKwale · heavy mineralsTonnes: 7600000Grade: 1.8Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Kwale
- Commodity
- heavy minerals
- Region
- kenya
- Reported Region
- Kenya
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:34e9bee3da7c902a7bd6
Resource Data
- Category
- proven
- Tonnes
- 7600000
- Grade
- 1.8
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Kwale project has JORC compliant reserves of 7.6 Mt at 1.8% Heavy Minerals, but mining is expected to cease in December 2024.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
Negative factors
- Mining expected to cease in December 2024, indicating limited future revenue.
Evidence · text
“JORC 7.6Mt @ 1.8% Heavy Minerals”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedKwale · heavy mineralsTonnes: 13500000Grade: 1.6Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Kwale
- Commodity
- heavy minerals
- Region
- kenya
- Reported Region
- Kenya
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:737fce898223678edd85
Resource Data
- Category
- indicated
- Tonnes
- 13500000
- Grade
- 1.6
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Kwale project has JORC compliant resources of 13.5 Mt at 1.6% Heavy Minerals, but mining is expected to cease in December 2024.
Positive factors
- JORC compliant resources provide confidence in the estimate.
Negative factors
- Mining expected to cease in December 2024, indicating limited future revenue.
Evidence · text
“JORC 13.5Mt @ 1.6% Heavy Minerals”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenYandanooka · heavy mineralsTonnes: 30000000Grade: 3.9Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yandanooka
- Commodity
- heavy minerals
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:3beb9a79e9acc488c8b2
Resource Data
- Category
- proven
- Tonnes
- 30000000
- Grade
- 3.9
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Yandanooka project has JORC compliant reserves of 30 Mt at 3.9% Heavy Minerals, indicating a significant resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
Evidence · text
“JORC 30Mt @ 3.9% Heavy Minerals”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedYandanooka · heavy mineralsTonnes: 57000000Grade: 3.1Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Yandanooka
- Commodity
- heavy minerals
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:173170f3396c2d905a10
Resource Data
- Category
- indicated
- Tonnes
- 57000000
- Grade
- 3.1
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Yandanooka project has JORC compliant resources of 57 Mt at 3.1% Heavy Minerals, indicating a significant resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
Evidence · text
“JORC 57Mt @ 3.1% Heavy Minerals”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenWonnerup · heavy mineralsTonnes: 6000000Grade: 5.4Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Wonnerup
- Commodity
- heavy minerals
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- sec_sk1300
- Resource group id
- resource:877b4a49bbc725e02d51
Resource Data
- Category
- proven
- Tonnes
- 6000000
- Grade
- 5.4
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Wonnerup project has reserves of 6 Mt at 5.4% Heavy Minerals, but the estimate is not JORC compliant, using S-K 1300.
Negative factors
- Reserve estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Non-JORC8 6Mt @ 5.4% Heavy Minerals9”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenThacker Pass · lithiumTonnes: 1056000000Grade: 0.254Grade Unit: % LiHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101, sec_sk1300
- Resource group id
- resource:ae29f6e125ced2afcf8a
Resource Data
- Category
- proven
- Tonnes
- 1056000000
- Grade
- 0.254
- Grade Unit
- % Li
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Thacker Pass project has non-JORC compliant reserves of 1,056 Mt at 0.254% Li, indicating a large lithium resource.
Positive factors
- Large tonnage of reserves indicates significant scale.
Negative factors
- Reserve estimate is not JORC compliant, using NI 43-101 and S-K 1300.
Evidence · text
“Non-JORC2 1,056Mt @ 0.254% Li”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedThacker Pass · lithiumTonnes: 5767000000Grade: 0.217Grade Unit: % LiHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, sec_sk1300
- Resource group id
- resource:e0a83f136fa0e894bf71
Resource Data
- Category
- indicated
- Tonnes
- 5767000000
- Grade
- 0.217
- Grade Unit
- % Li
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Thacker Pass project has non-JORC compliant resources of 5,767 Mt at 0.217% Li, indicating a very large lithium resource.
Positive factors
- Very large tonnage of resources indicates significant long-term potential.
Negative factors
- Resource estimate is not JORC compliant, using NI 43-101 and S-K 1300.
Evidence · text
“Non-JORC2 5,767Mt @ 0.217% Li”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenSanta Cruz · copperTonnes: 140000000Grade: 1.08Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Santa Cruz
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- sec_sk1300
- Resource group id
- resource:825b6483cf8938431dbb
Resource Data
- Category
- proven
- Tonnes
- 140000000
- Grade
- 1.08
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Santa Cruz project has non-JORC compliant reserves of 140 Mt at 1.08% Cu, indicating a substantial copper resource.
Positive factors
- Significant tonnage and good grade for copper reserves.
Negative factors
- Reserve estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Non-JORC2 140Mt @ 1.08% Cu”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedSanta Cruz · copperTonnes: 326000000Grade: 0.95Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Santa Cruz
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- sec_sk1300
- Resource group id
- resource:b344b305064aca6f5da9
Resource Data
- Category
- indicated
- Tonnes
- 326000000
- Grade
- 0.95
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Santa Cruz project has non-JORC compliant resources of 326 Mt at 0.95% Cu, indicating a large copper resource.
Positive factors
- Large tonnage of resources with good grade indicates significant potential.
Negative factors
- Resource estimate is not JORC compliant, using S-K 1300.
Evidence · text
“Non-JORC2 326Mt @ 0.95% Cu”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenSonora · lithiumTonnes: 244000000Grade: 0.35Grade Unit: % LiHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Sonora
- Commodity
- lithium
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- Resource group id
- resource:2a4f23aef4931727618f
Resource Data
- Category
- proven
- Tonnes
- 244000000
- Grade
- 0.35
- Grade Unit
- % Li
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Sonora project has non-JORC compliant reserves of 244 Mt at 0.35% Li, but the concessions are under dispute, impacting project viability.
Positive factors
- Significant tonnage and good grade for lithium reserves.
Negative factors
- Reserve estimate is not JORC compliant, using NI 43-101.
- Concessions are under dispute, creating uncertainty.
Evidence · text
“Non-JORC6 244Mt @ 0.35% Li”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedSonora · lithiumTonnes: 559000000Grade: 0.3Grade Unit: % LiHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Sonora
- Commodity
- lithium
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:73f695648ec9d86ed18b
Resource Data
- Category
- indicated
- Tonnes
- 559000000
- Grade
- 0.3
- Grade Unit
- % Li
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Sonora project has non-JORC compliant resources of 559 Mt at 0.30% Li, but the concessions are under dispute, impacting project viability.
Positive factors
- Large tonnage of resources with good grade indicates significant potential.
Negative factors
- Resource estimate is not JORC compliant, using NI 43-101.
- Concessions are under dispute, creating uncertainty.
Evidence · text
“Non-JORC6 559Mt @ 0.30% Li”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedParadox · lithiumTonnes: 2516000000Grade: 112Grade Unit: ppm LiHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paradox
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:ac2c1d553468faa5b089
- Deposit or zone
- Paradox
Resource Data
- Category
- indicated
- Tonnes
- 2516000000
- Grade
- 112
- Grade Unit
- ppm Li
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Paradox project has JORC compliant resources of 2,516 Mt at 112 ppm Li, indicating a very large lithium resource.
Positive factors
- Very large tonnage of JORC compliant resources indicates significant potential.
Evidence · text
“JORC Paradox: 2,516Mt @ 112ppm Li”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenAntler · copperTonnes: 11000000Grade: 1.6Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:685e6e466220f19e3fb0
Resource Data
- Category
- proven
- Tonnes
- 11000000
- Grade
- 1.6
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenAntler · zincTonnes: 11000000Grade: 3.7Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- zinc
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:685e6e466220f19e3fb0
Resource Data
- Category
- proven
- Tonnes
- 11000000
- Grade
- 3.7
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenAntler · leadTonnes: 11000000Grade: 0.6Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- lead
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:685e6e466220f19e3fb0
Resource Data
- Category
- proven
- Tonnes
- 11000000
- Grade
- 0.6
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenAntler · goldTonnes: 11000000Grade: 0.3Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:685e6e466220f19e3fb0
Resource Data
- Category
- proven
- Tonnes
- 11000000
- Grade
- 0.3
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenAntler · silverTonnes: 11000000Grade: 26Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:685e6e466220f19e3fb0
Resource Data
- Category
- proven
- Tonnes
- 11000000
- Grade
- 26
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant reserves provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedAntler · copperTonnes: 14200000Grade: 1.8Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:7233ff359a8c2d87d9a5
Resource Data
- Category
- indicated
- Tonnes
- 14200000
- Grade
- 1.8
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedAntler · zincTonnes: 14200000Grade: 4.3Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- zinc
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:7233ff359a8c2d87d9a5
Resource Data
- Category
- indicated
- Tonnes
- 14200000
- Grade
- 4.3
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedAntler · leadTonnes: 14200000Grade: 0.9Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- lead
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:7233ff359a8c2d87d9a5
Resource Data
- Category
- indicated
- Tonnes
- 14200000
- Grade
- 0.9
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedAntler · goldTonnes: 14200000Grade: 0.3Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:7233ff359a8c2d87d9a5
Resource Data
- Category
- indicated
- Tonnes
- 14200000
- Grade
- 0.3
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedAntler · silverTonnes: 14200000Grade: 34Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Antler
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona, USA
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:7233ff359a8c2d87d9a5
Resource Data
- Category
- indicated
- Tonnes
- 14200000
- Grade
- 34
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Polymetallic nature adds value.
Evidence · text
“JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedMimbula · copperTonnes: 76300000Grade: 1.07Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mimbula
- Commodity
- copper
- Region
- zambia
- Reported Region
- Zambia
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:e6fd75c8212166c23e53
Resource Data
- Category
- indicated
- Tonnes
- 76300000
- Grade
- 1.07
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Mimbula project has JORC compliant resources of 76.3 Mt at 1.07% Cu, indicating a significant copper resource.
Positive factors
- JORC compliant resources provide confidence in the estimate.
- Good grade for copper resources.
Evidence · text
“JORC 76.3Mt @ 1.07% Cu”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedPukaqaqa · copperTonnes: 349100000Grade: 0.4Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Pukaqaqa
- Commodity
- copper
- Region
- peru
- Reported Region
- Peru
- Ticker
- DRR
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:6173891e4c408084efe0
Resource Data
- Category
- indicated
- Tonnes
- 349100000
- Grade
- 0.4
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Pukaqaqa project has non-JORC compliant resources of 349.1 Mt at 0.40% Cu, indicating a large copper resource.
Positive factors
- Large tonnage of resources indicates significant potential.
Negative factors
- Resource estimate is not JORC compliant, using NI 43-101.
Evidence · text
“Non-JORC6 349.1Mt @ 0.40% Cu”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (4)
pilot plantThacker Pass · lithiumView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
Lab
- Consultant
- Bechtel
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: Targeting mechanical completion by late 2027 for the Thacker Pass Lithium Project is a positive development, indicating the project is advancing towards production.
Positive factors
- Mechanical completion is a significant project milestone, indicating progress towards production.
Evidence · text
“Thacker Pass Lithium Project mechanical completion targeted end of 2027”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
pilot plantThacker Pass · lithiumView all detailsHide details
Identity
- Project
- Thacker Pass
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- DRR
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Thacker Pass Lithium Project is targeting mechanical completion and ramp-up to 40ktpa LCE capacity, indicating significant progress towards commercial production.
Positive factors
- Mechanical completion and ramp-up to capacity are key milestones towards production.
Evidence · text
“Mechanical completion / ramp up to capacity of 40ktpa LCE”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
demonstration plantParadox · lithiumView all detailsHide details
Identity
- Project
- Paradox
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- DRR
Test Work
- Program Status
- preliminary
- Test Type
- demonstration plant
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Paradox project is commencing operation of a demonstration plant, which is a positive step towards validating its lithium extraction process.
Positive factors
- Commencing demonstration plant operation is a key step in de-risking the project and validating the process.
Evidence · text
“Commence operation of demonstration plant”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
demonstration plantGreen River · lithiumView all detailsHide details
Identity
- Project
- Green River
- Commodity
- lithium
- Region
- usa_ut
- Reported Region
- Utah, USA
- Ticker
- DRR
Test Work
- Program Status
- preliminary
- Test Type
- demonstration plant
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-18T00:00:00.000Z
Reasoning: The Green River project is advancing to engineering and demonstration plant stages, which is a positive step for its lithium development.
Positive factors
- Advancement to engineering and demonstration plant stage indicates progress in project development.
Evidence · text
“Green River engineering & demonstration plant”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.