News

Gold Road Resources (ASX: GOR) has reported encouraging initial results from the Gruyere underground drilling program, significantly extending the known mineralisation below its existing open pit operation.

Notable intersections from recent assays include:

• 119 metres at 1.10 g/t gold from 834 metres, including 33 metres at 1.57 g/t
• 54 metres at 1.62 g/t gold from 480 metres, including 28 metres at 1.99 g/t
• 87 metres at 0.86 g/t gold from 737 metres, including 18 metres at 2.20 g/t

Managing Director Duncan Gibbs stated the results confirm the continuity of the ore body and support the potential for profitable underground mining. The 60,000-metre drilling campaign is ongoing, with the goal of expanding Gruyere's mine life well beyond the current projections.

Further drilling and studies will continue over the next 15 months, with updates expected to reinforce the underground mining case for Gruyere.

Dreadnought Resources (ASX: DRE) has unveiled promising gold assay results from its Mangaroon Gold Project in Western Australia. The recent drilling highlighted robust potential for significant gold mineralisation, confirming both near-surface and deeper high-grade zones.

Key drill intercepts at Mangaroon include:

• 2 metres at 59.0 g/t gold from 16 metres depth
• 4 metres at 27.4 g/t gold from 80 metres
• 7 metres at 23.0 g/t gold from 53 metres
• 8 metres at 15.5 g/t gold from 89 metres

Managing Director Dean Tuck noted that these results significantly bolster Mangaroon's profile as an emerging gold camp. The ongoing drilling aims to expand the high-grade resource, with particular focus on the Star of Mangaroon and Popeye prospects. The company also plans to initiate gravity test work for potential onsite processing, further enhancing project economics.

Dreadnought anticipates further assays will confirm the continuity of these high-grade zones, supporting their strategy to commence open-pit mining in the near term.

Meeka Metals Limited (ASX: MEK) has reported significant gold assay results from recent infill and extensional drilling at Turnberry Central, part of its flagship Murchison Gold Project in Western Australia. The latest drill program revealed broad zones of high-grade gold, enhancing the project's potential ahead of planned open pit mining.

Key Highlights:

• Notable thick, high-grade intersections include:

  • 36 metres @ 2.82g/t Au from 89 metres, including:

    • 10 metres @ 4.67g/t Au

    • 11 metres @ 3.85g/t Au

  • 24 metres @ 1.89g/t Au from 46 metres, including 11 metres @ 2.67g/t Au

  • 22 metres @ 1.92g/t Au from 48 metres, including 5 metres @ 5.88g/t Au

• Additional shallow, high-grade gold intersections:

  • 6 metres @ 8.80g/t Au from 15 metres, including 1 metre @ 44.80g/t Au

  • 12 metres @ 2.68g/t Au from 71 metres, including 6 metres @ 4.12g/t Au

Managing Director Tim Davidson stated, "These broad zones of shallow high-grade gold will support high productivity and low-cost open pit mining. Open pit mining continues to ramp up at St Anne’s, and activities will soon expand to Turnberry Central."

Results from ongoing drilling will refine the grade control model and open pit design, progressing towards anticipated first gold production in mid-2025.

For more updates, visit www.meekametals.com.au.

Terrain Minerals Limited (ASX: TMX) has reported impressive results from reconnaissance drilling at its Lort River Project, located near Esperance in Western Australia, intersecting high-grade rare-earth mineralisation approaching 1% total rare earth oxide (TREO).

Key Highlights:

• Significant intersections include:

  • 8 metres @ 4,037ppm TREO from 23 metres downhole, including:

    • 1 metre @ 9,842ppm (0.98%) TREO

    • 1 metre @ 9,022ppm (0.90%) TREO

• Notably high concentrations of in-demand magnet rare earth elements (REEs), including neodymium (Nd2O3) up to 2,362ppm and praseodymium (Pr6O11) up to 647ppm.

• Mineralisation identified within clay horizons above granitic bedrock, suggesting significant exploration potential.

• Follow-up air core drilling campaign planned to rapidly assess the scale of the mineralisation.

Executive Director Justin Virgin stated, "These exceptional grades from our maiden drilling campaign confirm Lort River's strong potential for rare earths, positioning Terrain to aggressively expand exploration efforts and swiftly define an exploration target."

Terrain Minerals remains focused on critical minerals, including gallium, copper, and rare earths, aligning with strategic global demand driven by supply chain diversification from Chinese dominance.

Further updates and detailed exploration results can be found at www.terrainminerals.com.au.

Cannindah Resources Limited (ASX: CAE) has announced impressive results from the initial drill hole of its latest drilling program at the Mt Cannindah Copper-Gold Project in Queensland, significantly extending mineralisation beyond existing resource estimates.

Key Highlights:

• Hole CAE2024 intersected:

  • 71 metres at 0.95% Copper Equivalent (CuEq) from 127m, including 20m at 1.1% copper and 0.28g/t gold.

  • Within a broader intersection of 274 metres at 0.49% CuEq from 82m.

  • High-grade gold intercepts including 1 metre at 31.07 g/t Au from 464m and 1 metre at 5.14 g/t Au from 338m.

• The drilling extends known mineralisation, confirming continuity and filling data gaps between previously drilled high-grade zones.

• Drilling targets major IP anomalies near the current Mineral Resource Estimate (MRE) of 14.5Mt at 1.09% CuEq.

Managing Director Tom Pickett stated, "These outstanding results further highlight the potential of the Cannindah Mineral System, with significant copper and gold intersections reinforcing the system's substantial upside potential."

Further drilling at Mt Cannindah is planned, focusing on promising IP anomalies and expanding known high-grade zones.

For more information, visit www.cannindah.com.au.

Austin Metals Limited (ASX: AYT) has commenced a reverse circulation (RC) drilling program at its highly prospective Austin Gold Project located near Cue in the Murchison Province of Western Australia. This exploration aims to extend known mineralisation at the Mt Sandy and Brunswick Hill Prospects, building on previous high-grade results.

Key Highlights:

• Initial RC drilling program consists of 10-15 holes covering approximately 1,500 metres.

• Targeting mineralisation extensions following recent significant intercepts including:

  • 8.0m @ 2.7 g/t Au from 56m, including 2.0m @ 10.3 g/t Au.

  • 6.0m @ 3.5 g/t Au from 65m.

  • 5.0m @ 2.4 g/t Au from 83m, including 2.0m @ 5.6 g/t Au.

• Strategically positioned near established gold mines and advanced exploration projects, including Ramelius Resources' Mt Magnet Operations and Caprice Resources' Island Project.

Upon completing the Austin Gold Project drilling, the rig will move to the company's Ashburton Gold-Copper Project, which recently secured heritage approvals. This project includes the promising Donnelly's Prospect with previously reported high-grade trenching results:

• 12m @ 12.5 g/t Au and 1.7% Cu.

• 13m @ 4.1% Cu and 0.3 g/t Au.

Managing Director Paul L’Herpiniere commented, "The Austin Gold Project drilling program marks a significant step forward in our exploration strategy, aiming to unlock further potential across our promising portfolio."

Further exploration, including soil sampling, geophysical surveys, and additional RC drilling, is planned for 2025.

For more details, visit www.austinmetals.com.au.

Brightstar Resources Limited (ASX: BTR) has successfully completed its maiden gold pour at Genesis Minerals Ltd's Laverton Mill in Western Australia, marking a significant milestone in its 2025 production schedule.

Key Highlights:

• Maiden gold pour from Laverton Mill, processing ore from Brightstar’s high-grade Second Fortune Underground Mine and Lord Byron open pit stockpiles.

• Approximately 100.2kg of gold doré produced from initial processing parcel, with around 56,200 ounces of annualised production expected.

• Metallurgical reconciliation is currently underway, with final production data due within weeks.

• Brightstar remains debt-free and hedge-free, fully leveraging the record AUD gold price.

• The Fish deposit at Laverton continues to progress, with underground operations and additional processing parcels scheduled for mid-2025.

Managing Director Alex Rovira commented, "We are thrilled with our first gold pour at Laverton, a key achievement reflecting Brightstar’s strong operational execution and strategic collaboration with Genesis Minerals. Our diversified, high-grade ore sources position us well to continue ramping up production and enhancing shareholder value."

Brightstar's Definitive Feasibility Study (DFS) for its broader Laverton-Menzies project is nearing completion, anticipated by mid-2025, with ongoing exploration programs at Sandstone and Laverton.

Brightstar remains debt-free, fully exposed to the favourable AUD gold price, and strategically positioned for sustainable growth.

For more details, visit www.brightstarresources.com.au.

Legacy Minerals Holdings Limited (ASX: LGM) has initiated drilling operations at its highly prospective Thomson Gold-Copper Project in northwest NSW, Australia. Two deep drill holes, each planned to reach 600 metres, target significant geophysical anomalies that may indicate substantial intrusion-related gold-copper (IRG-Cu) mineralisation.

Key Highlights:

• Drilling is underway on two significant targets (F4 and Cut-B) identified by coincident gravity and magnetic anomalies.

• Targets potentially represent large-scale Intrusion-Related Gold and Copper systems, similar to major discoveries in the Paterson Province, Western Australia (e.g., Winu and Havieron deposits).

• Geophysical surveys and advanced 3D modelling highlight the anomalies' large size and favourable geological setting.

• Drilling assays from over 1,000m of previously unsampled historical drill core, which revealed zones of significant mineralisation, are pending and anticipated in late March or early April 2025.

• 1,200 metres of drilling is scheduled, utilising combined mud-rotary and diamond drilling techniques.

CEO Christopher Byrne commented, "Drilling at Thomson is underway, targeting exciting, previously untested anomalies. The large-scale magnetic and gravity anomalies we've identified indicate strong potential for a significant gold-copper discovery."

Legacy Minerals is strategically positioned as a first-mover in the underexplored Thomson region. Drilling results are expected to significantly inform future exploration and development efforts.

For more updates, visit www.legacyminerals.com.au.

Rox Resources Limited (ASX: RXL) has announced significant progress at its flagship Youanmi Gold Project in Western Australia, highlighting its potential as a major gold resource. Recent exploration has yielded high-grade gold intercepts, indicating substantial growth opportunities.

Key Highlights:

• Total mineral resource at Youanmi stands at 12.4 million tonnes at 2.97 g/t Au for 1.19 million ounces, including a high-grade component of 2.4Mt at 8.5g/t Au for 658,000 ounces.

• The company has reported exceptional drill results from the Grace Prospect, including:

  • 5m @ 125.7g/t Au

  • 7m @ 54.5 g/t Au

  • 2m @ 137.7 g/t Au

• Extensive historical database and infrastructure in place, including a developed underground mine and existing processing facilities, potentially facilitating rapid and cost-effective future development.

• Planned near-term exploration includes air-core and diamond drilling programs, targeting resource growth and expansion of known mineralisation zones.

Managing Director Alex Passmore stated, "These high-grade drill results confirm the substantial exploration upside at Youanmi, significantly enhancing our confidence in developing the project into a robust gold operation."

Rox Resources continues to explore strategic partnerships and potential expansions, positioning itself effectively to capitalise on the strong Australian gold market.

For more updates, visit www.roxresources.com.au.

Ramelius Resources Limited (ASX: RMS) and Spartan Resources Limited (ASX: SPR) have announced a transformative merger, set to create a prominent gold mining group with a combined market capitalisation of approximately A$4.2 billion.

Transaction Overview:

• Ramelius to acquire all outstanding Spartan shares via Scheme of Arrangement, unanimously recommended by Spartan’s board.
• Spartan shareholders to receive $0.25 cash plus 0.6957 Ramelius shares per Spartan share, valuing Spartan at A$2.4 billion.
• The deal represents an 11.3% premium to Spartan’s recent share price and a 27.5% premium to its 30-day volume-weighted average price (VWAP).
• Spartan shareholders will own approximately 39.5% of the combined entity.

Strategic Benefits of the Merger:

• The merger creates a significant mid-tier Australian gold producer with proforma mineral resources totaling 12.1Moz Au and Ore Reserves of 2.6Moz Au.
• Expected annual production exceeding 500,000 ounces by FY30, driven by the integration of Spartan’s high-grade Dalgaranga project and Ramelius’ Mt Magnet operations.
• Synergistic benefits include greater operational flexibility, reduced capital expenditure, and increased processing capacity, creating significant economies of scale.

Ramelius Managing Director and CEO, Mark Zeptner, said, "This merger supercharges our growth trajectory, creating a leading Australian gold producer with exceptional exploration upside and robust financial strength."

The transaction is subject to Spartan shareholder and regulatory approvals, with completion expected in late July or early August 2025.