gold News | The Market Online The Market Online – First with the news that moves markets. Breaking Australian stock market news, ASX 200 announcements and the latest ASX news today. Mon, 02 Jun 2025 23:52:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 Raiden expands drilling at Bulgarian gold project, aiming to increase footprint https://themarketonline.com.au/raiden-expands-drilling-at-bulgarian-gold-project-aiming-to-increase-footprint-2025-06-03/ Mon, 02 Jun 2025 23:18:00 +0000 https://themarketonline.com.au/?p=756297 Raiden Resources (ASX:RDN) intends to expand drilling at its Vuzel gold project in Bulgaria, seeking to build on the successes of its maiden and ongoing Phase Two programs, where near-surface mineralisation has been found in every hole.

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The goal of this expansion – which will see the Phase Two program increased from 2000 metres to 4,000 metres of diamond drilling – will be to grow the current mineralised footprint along strike while also going after priority targets within a wider three-to-four kilometre anomalous corridor.

Phase Two drilling was originally designed to refine structural controls to enable better targeting of potential high-grade feeder zones.

Also behind the decision to expand is Raiden’s meeting of the investment criteria for a 75% ownership in the Vuzel Project, with the company having a pathway to obtain 90% ownership through the definition of a JORC resource.

Managing director Dusko Ljubojevic said the signs that had emerged from previous drilling made this expansion an obvious but important step. “Our decision to expand the Phase Two drilling program by a further 2,000m of diamond drilling is in direct response to the highly encouraging results reported to date,” he said.

“Every hole reported from the Vuzel project has returned gold mineralisation, including numerous high-grade intercepts.”

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“Based on the results and our geological understanding to date, the mineralised system appears extensive, near surface and horizontal to sub-horizontal. These characteristics present an opportunity to rapidly and cost-effectively advance exploration, in alignment with our corporate strategy.”

RDN has been trading at 0.6 cents.

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Castile picks up IOCG mineralisation at NT’s Pathfinder 38 https://themarketonline.com.au/castile-picks-up-iocg-mineralisation-at-nts-pathfinder-38-2025-06-02/ Mon, 02 Jun 2025 01:33:23 +0000 https://themarketonline.com.au/?p=756250 Castile Resources Ltd (ASX:CST) has found indications of iron-oxide-copper-gold (IOCG) mineralisation via an Ambient Noise Tomography Survey (ANT) at its Pathfinder 38 target in the Northern Territory.

The discovery – which entailed an alteration associated with IOCG mineralisation being picked up in exploration hole 25P38D001 – is significant, given that this is the first time that such mineralisation has been successfully detected using ANT.

Within this hole, Castile found one zone of distal silica-hematite alteration measuring between 253 and 277 metres – which suggests the possibility of mineralisation to the north, a zone of strong magnetite replacement of jasper with pyrite in a parasitic fold between 395.35 and 396.2 metres (which repeats the structural setting at Castile’s Rover 1 deposit), and chlorite alteration and associated disseminated magnetite with elevated copper up to 30 times background (max 770ppm) between 580.9 and 612.35 metres down hole.

The company is now aiming to build on this with a downhole magnetic survey in 25P38D001 which will seek to further constrain the magnetic source, plus an ANT survey to determine another target to drill into this initial discovery at Pathfinder 38.

Managing director Mark Hepburn said he was pleased to have completed work which had proved the value of ANT technology at Pathfinder 38.

“This successful intersection of IOCG mineralisation in 25P38D001 will prove invaluable, by allowing Castile to benchmark ANT survey results to know geology to further refine targeting for high-value Rover 1 style deposits under cover,” he said.

“Our Rover 1 Project is ready for development, and we will continue to seek out additional inventory within our Rover Mineral Field for our ‘hub and spoke’ strategy with our aggressive exploration program using the ANT technology.

“Hole 25P38D001 was 50% funded by the NT Government as part of the Geophysics and Drilling Collaboration program being run by the Northern Territory Geological Survey and we thank them for their continued support.”

Castile shares have been trading at 5.3 cents.

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Perenti extends contract with Endeavour for mining services, worth $1.1B https://themarketonline.com.au/perenti-extends-contract-with-endeavour-for-mining-services-worth-1-1b-2025-06-02/ Sun, 01 Jun 2025 23:39:40 +0000 https://themarketonline.com.au/?p=756186 Perenti Ltd (ASX:PRN) has inked a new 5-year contract worth A$1.1 billion with Endeavour Mining for the delivery of underground mining services at the latter’s Mana high-grade gold complex in Burkina Faso.

The contract was signed through the companies’ joint venture subsidiary businesses – Underground Mining Services Burkina Faso SARL (Perenti) and SEMAFO BurkinaFaso S.A (Endeavour) – and builds on a relationship already established between this entity and Endeavour, which has involved the delivery of underground mining and support services at Mana since 2018.

This contract is set to last 60 months and will involve underground development and production, focusing on the complex’s 2 main areas, Siou and Wona.

Perenti managing director and CEO Mark Norwell said he was pleased to announce the expansion of the contract with Endeavour.

“This contract is consistent with our guidance for FY25 and will contribute strongly in FY26 and beyond,” he said.

“Our team continually delivers exceptional value for our clients, and this is clearly demonstrated by this long-term contract for expanded operations at the Mana complex.”

Perenti has been trading at $1.58.

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Emmerson JV partner kicks off gold production at Tennant Creek https://themarketonline.com.au/emmerson-jv-partner-kicks-off-gold-production-at-tennant-creek-2025-05-30/ Fri, 30 May 2025 02:55:32 +0000 https://themarketonline.com.au/?p=756107 Emmerson Resources Ltd (ASX:ERM) has announced the commencement of gold production at joint venture partner Tennant Mining’s 840,000 tonne per annum CIL gold processing facility in the Northern Territory.

Production from the facility – which is located 14 kilometres southeast of Tennants Creek – is currently built around deposits owned by Tennant Mining, which is itself a subsidiary of Pan African Resources (AIM: PAF).

As yet, it has not been determined when future processing from deposits falling under the JV will occur, with this likely to impact royalty payments.

However, Emmerson stressed that if Tennant failed to produce 60,000 ounces from the JV tenures by mid-May 2026, it would be required to make Minimum Production Payments, which would equal the 6% gross production royalty on any production shortfall (i.e. 60,000 ounces less gold produced from the JV tenements).

The minimum production shortfall is expected to be between 57,500 and 60,000 ounces (depending on actual production levels achieved by mid-March and mid-May 2026), and this will result in payment of approximately $18 million, payable to ERM in staged payments between April and August 2026.

Emmerson managing director Mike Dunbur offered his congratulations to the Tennant Mining and Pan African Resources teams for reaching commercial gold production at the facility.

“To achieve commercial gold production just four and a half years after signing the exploration Joint Venture with Emmerson and securing a number of other leases in their own name in the Tennant Creek district is a fantastic achievement,” he said.

“We look forward to working with the expanded team as development of the JV ownedgold deposits is undertaken in the coming years and look forward to receipt of the 6% uncapped gross gold production royalty from the Small Mines JV deposits.”

Emmerson shares rose after the news, and at 12:25 AEST, they were trading at 13.2 cents – a rise of 1.92% since the market opened.

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Nordic boosts Kiimala gold resource, adding 147K oz in indicated category https://themarketonline.com.au/nordic-boosts-kiimala-gold-resource-adding-147k-oz-in-indicated-category-2025-05-29/ Wed, 28 May 2025 23:55:00 +0000 https://themarketonline.com.au/?p=755816 Nordic Resources (ASX:NNL) has completed a data and resource validation at its Kiimala Trend project in central Finland, increasing its resource inventory to 961,800 ounces through the integration of three new projects from Northgold AB.

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The reassessment shows Kiimala to be a project made up of several gold prospects, including a near-surface orogenic gold deposit at Angesneva that contains 3.85 million tonnes at 1.19 grams per tonne of gold for 147,000oz.

Crucially, the latter is entirely within the indicated category, the company said.

Angesneva has produced a suite of high-grade intercepts, including 122.4 metres at 1.52g/t Au and 0.12% Cu from 57.2m; 79.8m at 1.85g/t Au and 0.18% Cu from 127.8m.

Other results at the site included 73.7m at 1.73g/t Au and 0.13% Cu from 247.2m, including 15.2m at 5.31g/t Au and 0.31% Cu from 272.1m.

“The additional gold resource ounces at Angesneva deliver immediate upside, bringing the total gold equivalent resource inventory to almost 1Moz AuEq, with 74% in the Measured and Indicated categories,” executive director Robert Wrixon said.

He continued: “Its proximity to Kopsa adds significant value to the regional development options currently under consideration.”

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The inventory at Kiimala Trend also includes the Kopsa project – located 40 kilometres from Angesneva – which measures 23.2Mt at 1.09g/t AuEq for 814,800oz.

NNL has been trading at 7.4 cents.

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Hot Chili seeks new porphyry system with ‘lookalike’ targets https://themarketonline.com.au/hot-chili-seeks-new-porphyry-system-with-lookalike-targets-2025-05-29/ Wed, 28 May 2025 23:20:00 +0000 https://themarketonline.com.au/?p=755758 Hot Chili (ASX:HCH) has identified a cluster of magnetic features adjacent to its La Verde copper-gold porphyry discovery in Chile, which can be defined as “look-alike” and which raises the possibility of a wider district-scale porphyry system.

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The Chilean discovery – which includes three targets, two of which are under shallow gravel cover – was made through geochemical and geophysical work programs that followed up Hot Chili’s recent drilling at La Verde, confirming that the latter had a footprint of 1,000 metres by 750 metres.

Hot Chili began with geophysical data generated through integration of a 3D magnetic inversion model from ground magnetic data, which indicated a spatial correlation between a mineralised tonalitic porphyry intrusion and a NNE-SSW trending weakly magnetic anomaly over La Verde.

The latter is situated within a localised circular magnetic-low feature, and this relationship has been used as a basis for identifying three additional circular magnetic-low features (lookalike targets) close to La Verde; these were all set at the intersection point of major regional structures.

3D probability models for mineralisation at the targets were completed by Fathom Geophysics. An extensive soil geochemistry programme was used to guide this.

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Hot Chili will now integrate its findings into a phase two drilling program at La Verde, which was to initially focus on extending the main copper-gold discovery, but which will now include first pass drilling of the new targets.

HCH has been trading at 50 cents before open on Thursday.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Pivotal dives into bonanza gold grades at BABG projects in Canada https://themarketonline.com.au/pivotal-dives-into-bonanza-gold-grades-at-babg-projects-in-canada-2025-05-28/ Tue, 27 May 2025 23:23:00 +0000 https://themarketonline.com.au/?p=755575 Pivotal Metals (ASX:PVT) has identified a suite of top-grade gold targets through a review of historical exploration at its Lorraine prospect, which is part of the wider Belleterre-Angliers Greenstone Belt (BAGB) projects in Quebec.

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Channel sampling from the 6th underground level – defined by a quartz vein system – identified assays such as 28 metres at 45.2 grams per tonne of gold (Au) and 3.2% copper (Cu); and 9.5m at 14.1g/t Au and 3.2% Cu – in underground crosscut and along-strike crosscut respectively.

One drill result – intersected 12m below the sixth level – showed 0.97m at 56.2g/t Au, including 0.15m at 233.9g/t Au; visible gold was also picked up in two holes which had been drilled between 40m and 60m above the sixth level.

“With a large and robust shallow copper resource and clear exploration pathway in hand at Horden Lake, we are broadening our program to our BAGB projects; where bonanza Cu, Ni, and Au grades are guiding us towards the next discovery,” managing director Ivan Fairhall said after sharing the news.

Excitingly, the review has allowed Pivotal to delineate a broad prospective corridor measuring 600m in strike with numerous signature Cu-Au quartz veining.

The overall BAGB project is focused on copper, nickel and PGE (platinum group metals) mineralisation, and the Lorraine gold targets form only one part of this, being connected to the Lorraine Mine.

The Lorraine Mine is a Cu-Ni magmatic system which had first operated in the 1960s, producing 661,000 tonnes at 0.90% Cu, 0.38% Ni, and 0.6 g/t Au.

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“These gold targets at Lorraine are an exciting addition to our already attractive Cu-Niprojects at BAGB,” Mr Fairhall explained.

“The bonanza Au grades, and their correlation over a significantly broad area, provides very strong encouragement for discovery in this area which has largely unexplored for Au, with the historical focus on Cu-Ni previously mined.”

PVT has been trading at 0.6 cents heading into Wednesday open.

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Carnaby finds high-grade Cu-Au mineralisation at Trekelano https://themarketonline.com.au/carnaby-finds-high-grade-cu-au-mineralisation-at-trekelano-2025-05-27/ Tue, 27 May 2025 00:20:00 +0000 https://themarketonline.com.au/?p=755448 Carnaby Resources (ASX:CNB) has reported results from its maiden drilling program at its Trekelano project in Queensland, with assays including 41 metres (or total width – TW – of around 35m) at 2.3% copper and 0.5 grams per tonne gold.

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The work – comprising 3,400 metres of drilling – is designed to aid resource growth and facilitate geotechnical and metallurgical sampling at Trekelano; itself part of the larger Greater Duchess copper gold project close to Mt Isa.

Two holes returned three metres (TW~2m) at 1.8% Cu, 0.2 g/t Au (159m) and 41 metres (TW~35m) @ 2.3% Cu, 0.5 g/t Au (169m); and 29 metres (TW~25m) @ 1.2% Cu, 0.5 g/t Au (181m, including 12 metres (TW~10m) @ 2.1% Cu, 0.9g/t Au (198m).

These results show significant high-grade copper-gold mineralisation beneath the historical Inheritance open pit, and the exploration upside of this area, with the high-grade plunge of the Inheritance mineralisation being completely open at depth to the south.

Managing director Rob Watkins said this drilling would help to underpin Carnaby’s plans for development of Greater Duchess. “The Trekelano project is shaping up to be a key pillar of the Greater Duchess project, along with our high-grade discoveries at Mount Hope, Lady Fanny and Nil Desperandum,” he said.

“We believe these four deposits will form the backbone of a successful new mine development in the Mount Isa region,” Carnaby’s boss continued.

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Mr Watkins added: “Trekelano has enormous scope to add material open pittable inventory and is being incorporated into the pre-feasibility study.” That study, mind you, is already in “full-swing” too; results should come soon.

CNB has been trading at 30 cents early on Tuesday.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Everest Metals set to commence drilling at Mt Dimer in WA https://themarketonline.com.au/everest-metals-set-to-commence-drilling-at-mt-dimer-in-wa-2025-05-27/ Mon, 26 May 2025 23:17:00 +0000 https://themarketonline.com.au/?p=755390 Everest Metals (ASX:EMC) has kicked off a program of reverse circulation drilling at its Mt Dimer project in Western Australia, where it’s looking to test four high-priority gold anomalies as it spins up production in 2025.

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The project – located 120 kilometres northeast of Southern Cross – contains an inferred mineral resource estimate (MRE) of 722,000 tonnes at 2.10 grams per tonne for 48,545 ounces of gold.

Drilling work will focus on targets within tenements E77/2383, which have been definedthrough the integration of geochemical anomaly interpretation and alteration zones delineated from high-resolution satellite imagery.

EMC executive chairman and CEO Mark Caruso said the company planned to approach the targets systematically.

“EMC’s geological team has interpreted multiple data sets to identify drill targets with the potential to uncover similar mineralisation to that already found in the Mt Dimer gold mining region,” he said.

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Mr Caruso continued: “By adopting a systematic and methodical exploration strategy, we are confident in leveraging this data to unlock additional gold mineralisation in the upcoming drilling campaign.”

EMC has been trading at 14.5 cents on Tuesday.

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Medallion progresses drilling at Ravensthorpe, looking ahead to feasibility https://themarketonline.com.au/medallion-progresses-drilling-at-ravensthorpe-looking-ahead-to-feasibility-2025-05-26/ Mon, 26 May 2025 00:17:00 +0000 https://themarketonline.com.au/?p=755218 Medallion Metals (ASX:MM8) has completed a major program of drilling at the Kundip Mining Centre (KMC) – part of its wider Ravensthorpe gold project (RGP) in Western Australia, with results from the Gem deposit including 2.3 metres at 65.7 grams per tonne (g/t) gold equivalent (AuEq).

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The drilling – which comprised 17,000 metres – was seeking to boost the size of KMC’s high-grade sulphide underground resource, while also building confidence in its numbers, to inform an update to the mineral resource estimate.

The latter will be the jumping off point for a feasibility study to assess the technical and commercial viability of mining the resources at RGP, which would be treated at a modified Cosmic Boy Process Plan.

Results from the drilling work included 7.8m at 17.4g/t gold (Au), 1.5% copper (Cu), 6.6g/t silver (Ag) (19.9g/t gold equivalent, or AuEq) from 218.2m in one hole, including 2.3m at 57.5g/t Au, 5.0% Cu, 20.4g/t Ag (65.7g/t AuEq) from 218.2m.

Managing director Paul Bennett said the drilling was an important element in future plans for the RGP. “These exceptional results from Gem are extremely positive and will now contribute to a resource update for the first lode scheduled for mining in the feasibility study mine plan,” he said.

“Deposit continuity, grades, and thicknesses observed consistently throughout this drill program build a great deal of confidence in the early stages of the plan.”

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Mr Bennett continued: “In addition, confirmation that both new footwall lode intercepts at Gem and Harbour View are strongly mineralised add to the growth story and will now be the target of follow-up drilling.”

“We look forward to results continuing to flow from Harbour View in advance of the resource update expected in July,” he concluded.

MM8 has been trading at 27 cents on Monday morning.

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Genesis to acquire proximal Laverton gold project in WA portfolio boost https://themarketonline.com.au/genesis-to-acquire-proximal-laverton-gold-project-in-wa-portfolio-boot-2025-05-26/ Sun, 25 May 2025 23:30:00 +0000 https://themarketonline.com.au/?p=755143 Genesis Minerals (ASX:GMD) is boosting its West Australian gold portfolio by acquiring the Laverton gold project to provide both open-pit and underground ore to its established Laverton mill, located only 30 kilometres away.

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The company has entered a binding share purchase agreement with the current owner, Focus Minerals (ASX:FML), for an upfront cash consideration of $250 million.

Laverton boasts a mineral resource of four million ounces at 1.7 grams per tonne (g/t) – equating to around $63 per resource ounce – with reserves of 546,000 ounces at 1.3g/t, and Genesis is looking ahead to exploration of its wider tenement package.

In addition to infill and extensional drilling to derisk and rebuild the resource, optimisation and expansion studies, it will also be the focus of exploration further down the line; all this is in line with Genesis’ “ASPIRE 400” growth strategy.

Crucially, the acquisition will let the company connect the project’s main deposits with infrastructure at Genesis’ Leonora and Laverton operations.

Completion of the acquisition is set for early June, the company confirmed today.

After putting pen to paper, managing director Raleigh Finlayson said the project was a highly strategic and opportunistic acquisition. “This is the perfect bolt-on acquisition,” he said. “It delivers a substantial 4 Moz Resource with immense exploration upside right next to our Laverton mill.”

“It offers supplementary open pit and underground ore to our Laverton mill and, in the process, gives us flexibility regarding the most efficient pairing of deposits and processing infrastructure between Laverton and Leonora.

“With more ore available at Laverton, our flagship Tower Hill deposit can potentially be processed at Leonora, resulting in significantly lower operating costs.”

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Alongside the acquisition, Genesis has also bolstered its board with the introduction of mining engineer Duncan Coutts, who will take on the role of executive director, while Mick Wilkes will retire as a non-executive director but will be retained as a technical advisor to support the ‘ASPIRE 400’ strategy.

GMD has been trading at $4.34 heading into Week 22.

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Rimfire to divest Cowal Vu-Au project to focus on scandium https://themarketonline.com.au/rimfire-to-divest-cowal-vu-au-project-to-focus-on-scandium-2025-05-23/ Fri, 23 May 2025 01:31:09 +0000 https://themarketonline.com.au/?p=755055 Rimfire Pacific Mining (ASX:RIM) has told shareholders it wants to place more of its focus on scandium – a high-demand commodity which it is exploring at the Fifield District assets in New South Wales, where it has an earn-in agreement with joint venture partner Golden Plain Resources.

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The company has elected to divest its Cowal copper gold project in the same state through an option to purchase agreement with Copper Search.

Cowal comprises three tenements – EL8329, EL8804, and EL9397 – and Copper Search (through subsidiary Altitude Gold) has a right of first refusal to purchase the first of these.

It has now been granted (subject to waiver by Sandfire) an exclusive six-month period to complete due diligence with a view to the company buying Cowal, with an option fee of $50,000 cash to be paid to Rimfire.

Copper Search will be able to extend the option period for up to three months – for a price of $10,000 cash per month – and will ultimately be able to complete the project purchase by paying $200,000 cash.

(There’s potential for this to comprise up to 50% Copper Search shares.)

Achievement of a JORC mineral resource estimate on any tenement will yield another payment of $200K to Rimfire within 30 days of the MRE announcement. Then, $250K would also be payable if Copper Search produced 50,000 ounces of gold or an equivalent value from minerals within the tenements.

“It is pleasing to execute the Cowal Option… with Copper Search and their highly experienced technical team,” Rimfire’s MD, David Hutton, said.

This, he continued, will now enable the company to place more of its focus on scandium.

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Mr Hutton continued: “The execution… sharpens Rimfire’s focus on building a critical mass of scandium within the Fifield District – Australia’s scandium epicentre as efficiently and quickly as possible.

“This work is taking place at a time when global supply of this strategically important critical mineral is being threatened by the recent Chinese restrictions on scandium exports.”

RIM has been trading at 2.1 cents.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Great Boulder has discovered new gold mineralisation at Side Well https://themarketonline.com.au/great-boulder-has-discovered-new-gold-mineralisation-at-side-well-2025-05-23/ Thu, 22 May 2025 23:05:00 +0000 https://themarketonline.com.au/?p=754962 Great Boulder Resources (ASX:GBR) has this week found additional gold mineralisation at its Side Well project near Meekatharra in Western Australia.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Reverse circulation drilling under the already identified gold at Side Well South has now picked up intercepts such as 14 metres at 1.64 grams per tonne from 83 metres, including four metres at 3.59g/t from 86 metres.

Another hole picked up 19 metres at 0.84g/t from 28 metres, including five metres at 2.01g/t from 36 metres, and four metres at 1.77g/t from 53 metres.

While GBR awaits further assays from 16 holes of this program, it’s also now completing Phase 2 AC drilling work at Side Well South.

“It’s really exciting to see immediate progress… hitting a broad intersection of shallow gold in our first RC hole,” managing director Andrew Paterson said, adding that these results had proven the value of Side Well South.

Mr Paterson continued: “Side Well South is shaping up as an important target for future resource growth at the project. Our initial AC program intersected gold in four new areas with geological settings analogous to our Ironbark and Saltbush deposits, which is very promising.”

“We’ve now confirmed primary gold mineralisation on two initial AC discoveries announced earlier in the year, with assays pending from another 16 RC holes.”

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At another part of the Great Boulder project – the Eaglehawk deposit – AC work has pulled up significant results which extend the mineralisation there by 200 metres, showing it to be open to the south.

Assays here include eight metres at 2.19g/t from 60 metres, including four metres at 4.23g/t Au from 64 metres in one hole.

GBR is trading at 6.2 cents heading into Friday’s market open.

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West African finds 25g/t gold after ‘strong’ diamond drilling https://themarketonline.com.au/west-african-finds-25g-t-gold-after-strong-diamond-drilling-2025-05-22/ Wed, 21 May 2025 22:58:00 +0000 https://themarketonline.com.au/?p=754799 West African Resources (ASX:WAF) has yielded successful results from a recent program of resource definition diamond drilling at its Sanbrado Gold Operations in Burkina Faso, picking up an intercept of 44 metres at 25.8 grams per tonne at the M1 South main deeps resource.

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The drilling revealed wide zones of high-grade mineralisation underneath the M1S underground current ore reserves.

Other intercepts included 44.5m at 17.1g/t, 38.5m at 17.4g/t, and 21.5m at 24g/t.

WAF intends to provide investors with total results from the program alongside an updated mineral resource estimate, due in the third quarter of 2025.

“Resource definition drilling below M1 South reserves has returned strong results, including 44m at 25.8 g/t gold and 44.5m at 17.1 g/t gold, confirming the underground operation will continue to be a high-margin long-life asset,” executive chairman Richard Hyde said, adding the drilling had underscored MIS’ value.

“Results from the recent drilling are expected to deliver an increase in both tonnes and contained gold in comparison to the 2024 resource model.”

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Mr Hyde continued: “Updated Mineral Resources and Ore Reserves and a new 10-year production outlook are planned for release in Q3 2025.”

WAF has been trading at $2.49 this morning.

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Antipa adds 100Koz of gold to Minyari, spruiks standalone potential https://themarketonline.com.au/antipa-adds-100koz-of-gold-to-minyari-spruiks-standalone-potential-2025-05-21/ Wed, 21 May 2025 02:59:51 +0000 https://themarketonline.com.au/?p=754737 Antipa Minerals (ASX:AZY) has this morning boosted expectations for its Minyari project in Western Australia with a newly updated mineral resource estimate, which now adds more than 100,000 ounces of gold.

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Minyari’s resource now totals 2.5 million ounces of gold – as well as 84,000 tonnes of copper, 666,000 ounces of silver, and 13,000 tonnes of cobalt – and Antipa believes these numbers show the possibility of standalone development for the project, as also hinted in a scoping study released in October 2024.

Crucially, there appears to be potential for a scalable open pit and underground miningoperation which will be built around mineralisation that begins at surface and with several deposits remaining open along strike and at depth.

“This update lifts the Minyari Mineral Resource to 3.0Moz gold equivalent, inclusive of 2.5Moz of contained gold, demonstrating the project’s significant scale potential across the tenure,” Antipa’s managing director, Roger Mason, said of the new numbers. Many of the new deposit areas remain open in multiple directions.

“Our broad, two-phase 2025 calendar year drilling programme targets substantial growth opportunities across the existing resource base and from new discovery zones with maiden resource potential.”

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Mr Mason continued: “Minyari’s development potential cannot be understated. It’s strategic proximity to Greatland Gold Plc’s (LSE: GGP) Telfer gold-copper-silver operation and the Havieron development offers a clear analogue for what a future production scenario could look like.”

Antipa shares have risen following the announcement, and at 11:47 AEST, they were trading at 59 cents – a rise of 1.72% since the market opened.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Buxton locks in contracts for IOCG drilling work at Centurion https://themarketonline.com.au/buxton-locks-in-contracts-for-iocg-drilling-work-at-centurion-2025-05-21/ Wed, 21 May 2025 00:29:00 +0000 https://themarketonline.com.au/?p=754694 Buxton Resources (ASX:BUX) has locked in key contracts for a major drilling program – set to commence next month – which focuses on its Centurion IOCG (iron oxide, copper-gold) target in Western Australia.

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This will be the maiden program for this target, which is located in WA’s West Arunta region. Buxton has earmarked JB Contracting to do earthworks.

The drilling itself will be done by DDH1 Drilling, the company has confirmed today.

Centurion is being targeted on a large-scale geophysical signature defined by coincident magnetic and gravity anomalies, The latter often indicate the presence of major IOCG deposits such as Carrapateena and Olympic Dam.

This anomaly will be tested through an initial 1,000-metre vertical diamond drillhole, and follow-up ‘daughter’ holes will then assess both the gravity and magnetic featuresfrom the parent hole.

Buxton views this approach as one that optimises the initial exploration phase and allowsfor rapid evaluation of the target.

“The imminent maiden Centurion drilling program represents a significant step in unlocking the potential of this substantial IOCG target,” CEO Marty Moloney said. “We are therefore delighted to partner with highly reputable and experienced contractors, JB Contracting and DDH1 Drilling, for this pivotal campaign.

‘Their established presence and operational experience in the West Arunta region provide cost efficiencies and the invaluable leverage of their local knowledge.”

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BUX shares have moved up since the news, and at 10:21 AEST, they were trading at 3.8 cents – a rise of 8.57% since the Oz markets opened.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Brightstar hits 8g/t jackpot after infill work at Yundaga https://themarketonline.com.au/brightstar-hits-8g-t-jackpot-after-infill-work-at-yundaga-2025-05-20/ Mon, 19 May 2025 23:18:39 +0000 https://themarketonline.com.au/?p=754509 Brightstar Resources Ltd (ASX:BTR) has picked up a gold intercept grading 16 metres at 8 grams per tonne (g/t) through infill and extensional drilling at its Yundaga deposit in Western Australia.

The company completed a total of 6,100m of drilling at the deposit – which is part of the wider Menzies gold project near Kalgoorlie – with final results processed.

These revealed results from one hole of 16m at 8.03g/t Au from 220m, including 1m at 33.6 g/t Au from 222m, and 4m at 13.5 g/t Au from 228m. Another hole picked up 13m at 4.70g/t Au from 167m, including 2m at 22.6 g/t Au from 176m.

The goal of this Phase 1 program was infilling areas of the resource which fall within or next to optimised stope shapes, as well as testing for down-dip extensions to known mineralisation.

Drilling results confirm that high-grade mineralisation in Menzies type lodes are present at the deposit, with these comprising nuggetty high-grades and classic pinch-and-swell morphology.

Managing director Alex Rovira said the results had boosted expectations for the deposit.

“Phase 1 assay results from Yunndaga drilling have surpassed our expectations. Intersecting wide zones of consistent high-grade mineralisation is hugely exciting and affirms our focus on advancing Yunndaga as a near term underground mining opportunity at Menzies in parallel with our Lady Shenton open pit project in Menzies,” he said.

“We strongly believe we are only scratching the surface at Yunndaga. The historic mine workings to the south of the Yunndaga deposit extend to over 600m vertical depth, and with over 270koz mined at a grade of +16g/t Au historically, it clearly has high-grade tenor.”

Brightstar has been trading at 70.5 cents.

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Gravity data proves fruitful in gold targeting for Accelerate https://themarketonline.com.au/gravity-data-proves-fruitful-in-gold-targeting-for-accelerate-2025-05-20/ Mon, 19 May 2025 22:56:53 +0000 https://themarketonline.com.au/?p=754488 Accelerate Resources Ltd (ASX:AX8) has used data from a recently interpreted gravity survey to define a valuable new gold target at its Little Lake prospect in the Goldfields region of Western Australia.

Processing and interpretation of the survey data – which was completed by Southern Geoscience – revealed the presence of northeast trending shear zones at the prospect, with these connecting the Reidy and Mt Monger faults.

Crucially, there was found to be a correlation between key basement gold intercepts found at Little Lake and the intersection of a NE trending shear together with 2 NW-trending faults, providing encouraging hints of what could be found at these drill targets.

Accelerate CEO Luke Meter said the gravity surveying work had contributed greatly to the company’s plans for the prospect, which is part of the broader Kanowna East project.

“The processing of gravity data by Southern Geoscience consultants has been a highly valuable investment for the company, enabling Accelerate to refine its geological model to a level previously unattainable for past explorers,” he said.

“The identification of NE-trending shear zones between the Reidy and Mt Monger faults is particularly exciting, as historic basement gold mineralisation at the Little Lake prospect shows a strong correlation with these structures – reinforcing their importance in our upcoming drill program.”

The company is now preparing for a drill program at Kanowna East, having gained approval for its program from the Department of Energy, Mines, Industry Regulation and Safety.

Accelerate has been trading at 0.8 cents.

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Uvre dives into gold with ‘transformational’ acquisition in New Zealand https://themarketonline.com.au/uvre-dives-into-gold-with-transformational-acquisition-in-new-zealand-2025-05-19/ Mon, 19 May 2025 03:16:44 +0000 https://themarketonline.com.au/?p=754460 Critical minerals explorer Uvre Ltd (ASX:UVA) is set to take a deep dive into precious metals, acquiring a portfolio of highly prospective gold projects in New Zealand and welcoming 2 noted mining entrepreneurs to its board.

The company has signed a binding agreement which will see it take on all shares in Minerals Exploration Ltd (MEL), whose subsidiary – Otagold Ltd – controls a suite of projects comprised of 3 exploration permits stretching across 332 square kilometres.

Chief among these assets is the Waitekauri gold project, located 8km west of OceanaGold Corporation’s 10-million-ounce Waihi gold mine (10Moz) in the country’s NorthIsland.

This location is enticing in other ways, with 3 additional gold deposits hosting more than 1 million ounces being adjacent to Waitekauri. Adding to this, multiple drilling targets have already been identified at the project, where gold and silver were previously mined at 48 grams per tonne.

Before the acquisition of MEL can be completed, due diligence will need to be completed on this company, Otagold and the latter’s permits, in addition to the contingency of Uvre raising at least $4 million through a single tranche share placement.

This placement – to be managed by Bell Potter Securities – will price shares at 8 cents each, and be subject to shareholder approval. Following a well-supported bookbuild, firm commitments have been received for this equity raise.

Included in the latter are contributions from incoming directors Norman Seckold($500,000) and Peter Nightingale ($100,000), which will also be subject to shareholder approval.

Mr Seckold and Mr Nightingale are major shareholders in MEL, and will join Uvre as non-executive directors.

Uvre shares rose following the announcement, and at 13:07 AEST, they were trading at 10 cents – a rise of 6.38% since the market opened.

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Podium adds Cu-Au resource at Parks reef, increasing basket price https://themarketonline.com.au/podium-adds-cu-au-resource-at-parks-reef-increasing-basket-price-2025-05-19/ Mon, 19 May 2025 01:25:59 +0000 https://themarketonline.com.au/?p=754444 Podium Minerals Ltd (ASX:POD) has released a mineral resource estimate (MRE) for the copper-gold zone found at its Parks Reef project in Western Australia, adding to a resource already defined for the project’s platinum group metals (PGM) zone.

The copper-gold zone – which lies above and is contiguous to the PGM zone – is estimated to comprise 140,000 tonnes (t)of copper, 260,000 ounces of gold, along with 60,000t nickel and 11,000t cobalt.

The existing PGM zone has been estimated as holding 7.6 million ounces (Moz), 5E PGM (a combination of platinum, palladium, gold, rhodium and iridium),103,000t copper (Cu), 143,000t nickel (Ni) and 27,000t cobalt (Co).

The addition of the new zone boosts the podium basket price by 21% to A$3,529 per ounce of 5E PGM, and adds to the scale, optionality and strategic value of Parks Reef, underlining the company’s position as Australia’s premier PGM exposure.

Executive chairman Rod Baxter said the resource definition marked an important achievement for Podium.

“The delineation of the substantial copper and gold mineralisation immediately above the hanging wall of the existing PGM and base metal horizon at Parks Reef is further demonstration of this deposit’s strategic value and ability to continue to surprise to the upside,” he said.

“While geologically separate from the PGM reef, the additional Cu-Au resource substantiallyincreases the podium basket price by 21% at current spot prices, enhances optionality from a development perspective, and provides another strategic lever for us to consider as we progress the Parks Reef PGM project.”

The company is also continuing Phase 2 flotation work seeking improvements in PGM recovery, with current efforts focused on waste rejection to enhance concentrate grade, aiming to produce a cleaner feed to Podium’s proposed downstream refining circuits.

Podium shares have moved up since this news, and at 11:17 AEST, they were trading at 2.6 cents – a rise of 18.18% since the market opened.

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