News

13 May 2025 | East Perth, WA – Auric Mining (ASX:AWJ) has officially commenced mining operations at its flagship Munda Gold Mine, located just 5km from Widgiemooltha in Western Australia.

The first earth was moved from the Starter Pit on 10 May 2025, marking a major operational milestone for the company. Site preparation, including haul roads, waste dumps and ROM pads, is largely complete, with the full mining team now active on site.

Key Details:

• Mining underway with free-dig operations; first blast expected within two weeks.

• The Starter Pit is expected to yield 125,000 tonnes of ore, producing approximately 6,100 ounces of gold.

• Estimated AISC is A$2,635 per ounce, with completion targeted in five months.

• The project is fully funded through profits from Auric’s Jeffreys Find operation near Norseman.

Managing Director Mark English commented:

“Gold mining is underway. The mine is our future for the next five years, and we are settling in for a sustained period of gold production. It’s a momentous time for Auric.”

The Munda Gold Mine hosts a 145,000-ounce resource, and detailed planning for a larger Main Pit development is anticipated in 2026.

12 May 2025 | Bathurst, NSW – Legacy Minerals (ASX:LGM) has resumed drilling at its Thomson Project in north-western NSW, targeting large-scale intrusion-related gold-copper systems across the expansive 5,500km² tenement.

Following recent flooding, drilling has recommenced at the Cut-B anomaly, a high-priority gravity and magnetic target. This follows the successful testing of the nearby F4 anomaly, with assays pending.

Key Highlights:

• Cut-B anomaly targets a coincident gravity-magnetic high, previously only tested for magnetic response.

• Historical drilling returned strong alteration and high-grade intervals, including:

  • 1m @ 6.73g/t Au from 370m

  • 1m @ 497g/t Ag, 0.13% Nb from 392m

  • 0.7m @ 0.5% Cu, 4.2% Zn, 0.4% Sn from 411m

• Cut-A anomaly recently delivered broad mineralised zones, including:

  • 377m @ 0.1g/t Au (uncut) with higher-grade intervals up to 3.7g/t Au

Legacy is exploring for IRG-Cu systems analogous to major discoveries at Havieron and Winu. The company believes the Thomson Project offers “a world-class discovery opportunity,” supported by recent acquisition interest from Red Hill Minerals (ASX:RHI).

CEO Chris Byrne commented:

“Drilling at both Cut-A and Cut-B has confirmed multiple hundred-metre alteration and mineralisation zones. These results strengthen our view that we’re dealing with a large, potentially significant system.”

Legacy Minerals plans further sampling at Cut-A and will continue testing targets across the underexplored belt.

12 May 2025 | West Perth, WA – DeSoto Resources (ASX:DES) has commenced diamond drilling at its 100%-owned Fenton South Gold-Copper Project in the Northern Territory, targeting a large untested geophysical anomaly believed to host Au-Cu mineralisation.

The site was identified following extensive 2023 geophysical surveys, including AEM, gravity, magnetics and IP, which outlined a coincident conductivity and magnetic anomaly interpreted as a high-priority anticlinal target—favourable for mineralisation in the Pine Creek region.

Key Highlights:

• Drilling will test a modelled EM and gravity target analogous to the nearby Fenton Prospect.

• The initial program includes two diamond holes designed to intersect the strongest part of the anomaly.

• Fenton South lies ~150km south of Darwin and 7km along strike from previous Fenton drilling.

• Supported by $8 million in cash, DeSoto is now simultaneously drilling in Australia and Guinea.

Managing Director Chris Swallow said:

“After delays due to weather and permitting last season, we’re excited to be testing our highest-priority targets in the NT, starting at Fenton South with Spectrum to follow shortly.”

The nearby Spectrum Project, which is fully permitted for up to 20 holes of RC and diamond drilling, will commence drilling later this month.

12 May 2025 | Perth, WA – Miramar Resources (ASX:M2R) has announced further significant gold intercepts from the current aircore drilling campaign at its Gidji JV Project near Kalgoorlie, highlighting continued expansion of the supergene gold footprint.

The drilling, targeting shallow mineralisation beneath paleochannel cover, returned several promising results, particularly at the Blackfriars target, which shares geological features with the nearby multi-million-ounce Paddington deposit.

Significant intercepts include:

• 1m @ 4.45g/t Au (GJAC955 – Paleochannel)

• 2m @ 1.96g/t Au with 6.98g/t Ag (GJAC932)

• 2m @ 2.01g/t Au (GJAC944)

• 1m @ 0.99g/t Au (GJAC956)

• 2m @ 1.12g/t Au, open at end-of-hole (GJAC960)

So far, 34 holes have been completed as part of a broader 180-hole aircore campaign. Drilling was briefly suspended due to heavy rainfall but has since resumed.

Executive Chairman Allan Kelly commented:

“These results confirm and extend the large supergene gold system at Gidji and highlight the potential for a new gold camp, particularly at targets like Blackfriars.”

The drilling aims to refine deeper bedrock targets beneath younger transported sediments. Additional aircore, RC and diamond drilling is planned following this phase.

The Gidji JV, located just 15km north of Kalgoorlie, lies within WA’s prolific Eastern Goldfields, surrounded by operating mines but remains underexplored due to paleochannel cover.

12 May 2025 | West Perth, WA – Asra Minerals (ASX:ASR) has commenced a focused drilling campaign at its Leonora South Gold Project in Western Australia, targeting the down-dip extensions of high-grade mineralisation at the Orion and Sapphire deposits.

The initial program includes approximately 1,000m of Reverse Circulation (RC) and 300m of diamond tail drilling across six holes, designed to follow up on standout results from the October 2024 campaign.

Key highlights from previous drilling include:

• 1m @ 47.95g/t Au from 115.2m (Sapphire)

• 1m @ 23.12g/t Au from 148.7m (Sapphire)

• 0.8m @ 23.97g/t Au from 161.2m (Orion)

Drilling will test mineralisation below 80m vertical depth for the first time, aiming to confirm continuity and unlock resource growth potential in this underexplored zone.

Asra CEO Paul Stephen stated:

“This campaign is an exciting opportunity to expand our known resources and build on the high-grade gold intersections we’ve already uncovered. With results due in the coming months, we’re well positioned to generate strong momentum at Leonora South.”

Contractors Challenge Drilling and Terra Drilling have been engaged under a drill-for-equity agreement, giving Asra financial flexibility while maintaining exploration momentum.

Following this program, exploration will shift to the Gladstone prospect, targeting newly defined high-priority zones identified through recent aeromagnetic reviews.

8 May 2025 | West Perth, WA – Tennant Minerals (ASX:TMS) has identified a promising new copper target at its Barkly Project, with shallow historical drilling revealing a significant subsurface copper anomaly at Bluebird East—just 350 metres from the company’s flagship Bluebird discovery.

The Bluebird East anomaly, which spans a 250-metre strike, shows copper grades up to 1,200ppm Cu in ironstone and bears strong similarities to the "pre-discovery" signals observed over the high-grade Bluebird copper-gold deposit.

Key Points:

• Historical shallow drilling (<50m) returned consistent >100ppm Cu anomalies, with some intervals peaking at 1,200ppm Cu and 0.6g/t Au

• The copper zone aligns with gravity and magnetic anomalies, suggesting potential for a concealed mineralised system

• Recent Slimline RC drilling showed iron enrichment, with 1m assays pending

• Follow-up drilling is being planned to test below the weathered zone and expand on this newly defined 600m corridor of interest

CEO Vincent Algar commented:

“The copper anomaly at Bluebird East is almost a mirror of the signal we saw over the original Bluebird discovery. With limited drilling below 50 metres, we see strong potential for a major new find in this zone.”

Tennant Minerals will also continue targeting extensions to Bluebird’s main lodes, which remain open down plunge and to the west, and progress regional exploration across the Barkly tenements using recently completed auger sampling and gravity survey data.

8 May 2025 | West Perth, WA – Sandfire Resources (ASX:SFR) has announced the sale of its Old Highway Gold Project to Catalyst Metals (ASX:CYL) for $32.5 million, under a binding Sale and Purchase Agreement finalised this week.

Located just 20km west-south-west of Sandfire’s DeGrussa Copper-Gold Mine in Western Australia, the Old Highway Project has been extensively drilled and studied over the past few years. The deal includes:

• A $2.5 million cash deposit, and

• A $30 million final payment on completion

The agreement also includes a cooperative transfer of the DeGrussa aerodrome to Catalyst, while ensuring Sandfire retains necessary access for its future operations.

Sandfire CEO Brendan Harris said:

“This sale increases the likelihood of future development at Old Highway and creates opportunities for local stakeholders. It also helps offset DeGrussa rehabilitation costs as we transition the site.”

Completion of the transaction is subject to standard regulatory and third-party approvals, including Ministerial consent and permit transfers under the Rights in Water and Irrigation Act.

For more information, visit sandfire.com.au

7 May 2025 | Kalgoorlie, WA – OzAurum Resources (ASX:OZM) has announced strong new RC drilling results from its recently discovered Cross Fault zone at the Mulgabbie North Gold Project, confirming the potential for a significant gold system in fresh rock.

Key RC intercepts include:

• 10m @ 1.80 g/t Au (from 127m), including

  • 1m @ 3.91 g/t Au to end of hole (MNORC 251)

• 7m @ 2.17 g/t Au (from 79m) (MNORC 253)

• 8m @ 1.81 g/t Au (from 68m) within

  • 22m @ 0.84 g/t Au (MNORC 250)

• 1m @ 6.12 g/t Au and 1m @ 6.07 g/t Au (MNORC 252)

The latest drilling validates a 400-metre strike length of mineralisation and intersects multiple wide sulphide-rich zones—evidence of a robust gold-bearing structure continuing at depth.

CEO Andrew Pumphrey commented:

"We’re extremely encouraged by the continuity of high-grade mineralisation into fresh rock at Cross Fault. The growing scale and sulphide intensity suggest a significant gold system is emerging."

OzAurum has now completed eight RC holes and two diamond holes at Cross Fault, with further infill and extensional RC drilling underway. A new 2,500-metre air core (AC) drill program is also planned to the south, targeting quartz porphyry and additional fault zones along the Relief Shear.

The Cross Fault discovery lies approximately 1.3 km south of the current 260,000oz Mulgabbie North Mineral Resource and is hosted in sandstone—a setting analogous to nearby large deposits at Carosue Dam.

7 May 2025 | West Perth, WA – Medallion Metals (ASX:MM8) has reported outstanding extensional drill results from its Gem deposit, part of the Kundip Mining Centre (KMC), significantly expanding the high-grade lode beyond the current Mineral Resource boundary.

The two Reverse Circulation (RC) holes – drilled 40 to 100 metres down plunge from existing resources – intercepted multiple high-grade gold-copper-silver zones:

• 6m @ 6.3g/t AuEq from 343m, including

  • 2m @ 15.3g/t AuEq (11.2g/t Au, 2.4% Cu, 19.5g/t Ag)

• 3m @ 7.8g/t AuEq from 346m

• 2m @ 4.9g/t AuEq from 355m

These results confirm mineralisation extends up to 80 metres beyond the existing Mineral Resource Estimate (MRE) and sit approximately 60 metres below the current mine plan, offering substantial upside to Medallion’s 770koz Au and 36kt Cu sulphide MRE.

Managing Director Paul Bennett said,

“These results strengthen our belief that we’ve only just scratched the surface at Gem. The scale and continuity of mineralisation suggest further mine life extensions are likely, supporting long-term development plans.”

The results will underpin an updated MRE due in June 2025, which feeds into a Feasibility Study for treating KMC sulphides at the Cosmic Boy Process Plant—a facility Medallion is currently negotiating to acquire from IGO Ltd.

Medallion has now completed over 15,000 metres of a planned 17,000-metre drilling program, with further updates expected from Harbour View and additional holes at KMC.

The Gem deposit sits within the broader Ravensthorpe Gold Project, a 1.46Moz AuEq resource located 550km southeast of Perth.

Great Boulder Resources Limited (ASX: GBR) has announced significant high-grade gold intersections at the Ironbark gold deposit, part of the Side Well Gold Project near Meekatharra in Western Australia, extending known mineralisation to the south.

Key Highlights:

• Recent RC drilling at Ironbark intersected shallow, high-grade gold mineralisation, including:

  • 8m at 9.07g/t gold from 113m, including 5m at 13.84g/t gold.

• This intersection extends mineralisation 60 metres south of the current resource boundary, suggesting further potential beneath existing shallow drilling approximately 170 metres further south.

• Additional RC drilling is ongoing at Side Well South, building upon earlier promising gold intercepts.

• The Ironbark scoping study is advancing well, with results expected this quarter.

Managing Director Andrew Paterson commented, "These results confirm the southern extent of Ironbark remains open, reinforcing our confidence in the potential for significant resource growth. Our ongoing exploration continues to deliver exciting results, supporting our strategy for further drilling."

Follow-up drilling is planned to further define and potentially expand this high-grade zone, with expectations of continued resource enhancement.

For further details, visit www.greatboulder.com.au.