Omega Oil & Gas has spudded the Canyon North-1 well in the Taroom Trough, Queensland, to test the northern extension of the Canyon oil and gas play. The well is planned to reach a depth of approximately 4000m, with results expected in about four weeks.
Aeris Resources Limited announced a material increase to the Mineral Resource estimate for its Golden Plateau deposit, with contained gold increasing by 220% and contained silver by 200%. The update significantly boosts Measured and Indicated resources, enhancing confidence and extending potential mine life. While overall contained metal grew substantially, the average gold grade decreased, and the underground cut-off grade was lowered, contributing to the tonnage increase.
Austral Resources announced high-grade copper-gold drill results from its Cameron River Project in North West Queensland, including a standout intercept of 15m at 4.59% copper and 1.16 g/t gold from the Waterhole Prospect. This reconnaissance drilling successfully confirmed copper-gold mineralization across six prospects, with most targets receiving their first modern drill testing and remaining open at depth and along strike. The results reinforce the potential for extensive copper-gold mineralized corridors and provide a strong foundation for ongoing exploration.
AIC Mines reported strong copper and gold exploration results, including a bonanza 92.5 g/t Au intercept at Eloise South and significant copper-gold at Brumby. The company also announced the acquisition of the Mt Cuthbert Copper Project, adding 246,000 tonnes of contained copper to its mineral resources. Despite quarterly production being below guidance due to operational challenges, full-year guidance was maintained, and commissioning of the expanded Eloise processing plant commenced ahead of schedule.
LE Minerals Limited is seeking shareholder approval for the spin-out and sale of its wholly-owned subsidiary, Axon Graphite Pty Ltd, to M Battery Materials Limited (MBM) for A$20 million in cash and scrip. This transaction will see LE Minerals divest its graphite projects, allowing it to focus on its gold-copper and lithium projects, while retaining a significant shareholding in MBM. The spin-out is conditional on MBM's successful IPO and involves a complex in-specie distribution of MBM shares to LE Minerals shareholders, subject to escrow and tax considerations.
Iltani Resources has successfully completed initial ore sorting testwork on a 5-tonne bulk sample of Orient diamond drill core using TOMRA's DE-XRT technology. The process yielded a 22% product mass, and sorted material has been dispatched to Core Metallurgy for upcoming flotation testwork and assay analysis.
Maronan Metals reported steady progress in its 40,000m infill drilling program, delivering high-grade silver-lead and copper-gold intercepts. The company also secured firm commitments for a A$20 million placement and appointed Andrew Graham as new Managing Director and CEO.
GBM Resources Limited announced highly encouraging initial metallurgical testwork results from its Twin Hills Gold Project, demonstrating gold recoveries of 92% to 99% into rougher flotation concentrates from both the 309 and Lone Sister deposits. These results, achieved using conventional flotation methods, provide strong confidence in a flotation-based processing option. While CIL results at Lone Sister were encouraging (87-89% recovery), the 309 deposit showed lower CIL extractions compared to historical data, necessitating further investigation and optimization before a preferred processing flowsheet can be determined.
True North Copper has reported average copper recoveries of 89% from bench-scale flotation tests at the Wallace North deposit. Additionally, the company announced that its Cloncurry copper-equivalent resource has grown by 62% to 204,000t CuEq.
Critical Minerals Group has commenced its first field program for the Definitive Feasibility Study (DFS) at the Lindfield Vanadium Project in Queensland. The program involves approximately 55 core holes designed to increase geological confidence, provide metallurgical variability samples, and collect geotechnical and groundwater data.
