News

22 September 2025 | West Perth, WA – Yandal Resources (ASX:YRL) has confirmed a new primary gold discovery at the Arrakis prospect within the Caladan target area, reporting 54m @ 1.2g/t Au from 108m to end-of-hole in RC hole 25IWBRC0040, including 24m @ 2.1g/t Au from 138m to EOH and 8m @ 4.7g/t Au from 154m to EOH. A second hole, 25IWBRC0041, returned 6m @ 1.1g/t Au from 180m to EOH. The results are the first from a seven-hole, 1,374m RC program testing beneath broad aircore anomalism along a >2.2km mineralised trend.

Yandal says the RC program confirms fresh-rock mineralisation with an apparent sub-vertical geometry, demonstrating down-dip continuity below earlier aircore intercepts and suggesting gold depletion in the weathered profile relative to broader zones now seen in fresh rock. The company interprets Arrakis as a large-scale mineralised system that remains open along strike and at depth.

Managing Director Chris Oorschot said the fresh-rock hits represent “a significant milestone in de-risking and progressing exploration targets,” adding that “the discovery potential is substantial when you consider the scale of the trend and the limited and broadly spaced nature of current drilling.”

Next steps: Results from the remaining five RC holes are expected in the coming weeks. Yandal is planning to re-enter and extend 25IWBRC0041 with diamond drilling, and to step-out with RC on 200m-spaced lines to test the Arrakis trend to the north-west and south-east. Heritage surveys completed and scheduled through September will open up additional drill positions across Caladan.

Arrakis lies within Yandal’s Ironstone Well–Barwidgee Project, about 60km south of Jundee and 18km north of the Siona discovery, in the Yandal Greenstone Belt.

22 September 2025 | Mt Isa, QLD – Carnaby Resources (ASX:CNB) has reported a very high-grade hit from its first exploration hole at Trek 1 (Trekelano): 7m @ 9.3% CuEq from 415m, including 5m @ 12.5% CuEq, confirming a ~150m down-plunge extension to the historical orebody. The intersection lies outside the current MRE and remains open at depth and along strike; a diamond tail is underway to probe further down-plunge, with another RC hole testing up-plunge.

Trek 1 was mined underground between 1911–1943 to ~245m depth at an average 10.9% Cu and 2g/t Au. Current work streams feed into the Greater Duchess PFS (H2 CY2025), supported by binding tolling/offtake with Glencore. The Trekelano MRE stands at 5.2Mt @ 1.6% CuEq, including the Trek 1 Inferred component of 1.5Mt @ 2.0% CuEq; Carnaby is advancing geotech, metallurgy and resource drilling to update and re-classify.

MD Rob Watkins called the result “material” and “game changing,” noting the broader Trekelano system remains under-explored with strong scope for growth along the mineralised shear corridors.

22 September 2025 | West Musgrave, WA – Terra Metals (ASX:TM1) has intersected a 58m-thick titano-magnetite reef from 132–190m in hole SWRC008 at the newly defined Southwest Prospect within the Dante Project—its thickest reef interval to date and an early win from the company’s Phase 3 drill program. The intercept sits inside a corridor where 5.2km of new reef strike has recently been mapped. Assays are pending (approx. six weeks).

Three rigs (two RC, one diamond) are now operating, with multiple high-priority targets still to test across the Southwest area and broader Jameson Layered Intrusion. Terra notes less than 10% of total strike has been drilled so far, following the recent 148Mt maiden MRE, and says the system shows potential for Cu–Au–PGM–Ni–Co–V–Ti mineralisation alongside the vanadiferous magnetite reefs.

CEO Thomas Line said the result “is an outstanding achievement… and a clear validation of our exploration strategy,” adding that strong institutional backing from a recent $15m placement enables the company to accelerate drilling and metallurgical work.

19 September 2025 | West Perth, WA – Catalina Resources (ASX:CTN) has confirmed both gold and rare earth element (REE) mineralisation at its Laverton Project, with maiden RC drilling near Mt Weld intersecting significant TREO zones alongside multi-element pathfinders typical of granite-related gold systems in the Eastern Goldfields.

Key RC results (REE):

• LVRC04: 12m @ 5,828 ppm TREO from 64m, incl. 4m @ 1.19% TREO from 68m; plus 4m @ 804 ppm from 56m and 16m @ 1,425 ppm from 44m.
• LVRC05: 12m @ 2,398 ppm TREO from 20m; 8m @ 2,137 ppm from 24m; 8m @ 1,935 ppm from 52m; plus multiple 1,500–4,400 ppm intervals.

Gold system confirmed:

• Structurally hosted, high-temperature hydrothermal signature with anomalous Sb–W–As–Bi–Mo–Sc, consistent with mineralising systems seen at Wallaby, Granny Smith and Sunrise Dam (by geochemical fingerprint, not scale).
• Previously reported hits include 18m @ 1.16 g/t Au from 127m (incl. 3m @ 3.41 g/t Au) in LVRC02, and aircore 28m @ 1.09 g/t Au from 57m (LVAC049).

Geology & metallurgy
REE anomalism occurs in a flat-lying saprolitic clay horizon beneath ~15–20m of cover, strengthening the case for Mt Weld intrusive influence. Catalina will submit samples to ANSTO for metallurgical test work and has integrated portable XRF REE screening into ongoing gold drilling.

Management comment
Executive Director Ross Cotton said the results “reinforce the quality of the ground,” adding that while gold remains the focus, REE enrichment “adds an additional dimension of opportunity” for shareholders.

Next steps

• Extensional gold RC drilling now in progress across priority structures.
• REE test work (ANSTO) to assess recoveries and processing routes.
• Continued integration of multi-element geochem + geophysics to refine targets.

17 September 2025 | Subiaco, WA – Gateway Mining (ASX:GML) has reported a significant 134-nugget find totalling 366g (~11.8oz) across a 1.2km corridor at its Great Western prospect, strengthening the case for a near-surface gold discovery along an untested splay structure at the Yandal Gold Project.

Key points

• Nuggets recovered along the mafic–intermediate contact, the same lithological contact that hosts high-grade mineralisation at nearby Horse Well; peak nugget 26.5g, many angular and associated with angular quartz, supporting an ‘in situ’ interpretation.
• Nugget trend is coincident with a soil gold anomaly and wraps the Great Western intrusion; the corridor has never been sampled or drilled historically.
• Gateway is well-funded (~$12.1m cash and liquid securities at 30 June) to continue 2025–26 exploration.

Incoming Executive Chairman Andrew Bray said the large nugget haul, combined with mapping and geochemistry, “adds to the evidence for very significant gold mineralisation” at Great Western, noting that the setting suggests mineralisation could be intersected near or at surface.

What’s next

• Expanded soil sampling and mapping along the intrusion margins now underway.
• A trial 2D IP line across the peak gold anomaly (after completing a 3D IP survey at Dusk ’til Dawn).
• Drilling plans to follow once results are received and integrated.

4 September 2025 | Perth, WA – Ora Banda Mining (ASX:OBM) has posted a string of standout assays from the first 9 holes of a planned 45-hole (~15,300m) campaign at Waihi, 3km west of its Davyhurst plant, including the discovery of a new high-grade lode and significant depth extensions on the Waihi West Lode. The results strengthen Waihi’s credentials as OBM’s third underground mine, alongside Riverina and Sand King.

2941743 Exploration Update - Wa…

Highlights

• New lode discovered in the hanging wall of the historic Golden Pole mine: 13.5m @ 6.1g/t Au and 8.0m @ 8.7g/t Au (incl. 4.0m @ 14.9g/t; 4m comps); mineralisation remains open along strike and down-plunge.

  2941743 Exploration Update - Wa…

• Waihi West Lode extended to >350m below surface, including 3.9m @ 29.5g/t Au (incl. 1.8m @ 60.8g/t).

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• Additional strong hits across Waihi East/West and Homeward Bound, such as 6.0m @ 21.1g/t (incl. 0.7m @ 159.0g/t), 7.0m @ 14.5g/t (incl. 5.0m @ 19.2g/t), 4.1m @ 8.8g/t (incl. 1.5m @ 15.7g/t) and 9.0m @ 3.5g/t.

  2941743 Exploration Update - Wa…

The Golden Pole area—historically 81kt @ 29g/t for ~77koz—remains under-tested at depth and shares the same structural setting as the main Waihi system, presenting immediate follow-up targets on the newly identified lode. OBM has 36 holes still to drill in the current program, aimed at growing high-grade shoots and testing additional prospects around the Waihi complex.

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MD Luke Creagh said the program is “nothing short of outstanding,” noting the combination of grade, width and depth extensions “continues to build the case for Waihi as a third underground mine” at Davyhurst.

28 August 2025 | Subiaco, WA – Cyprium Metals (ASX:CYM) has unveiled plans to raise approximately A$80 million (A$74m placement plus a fully underwritten A$6m entitlement offer at A$0.028/share) to accelerate the restart of the Nifty Copper Complex in WA’s Paterson Province and unlock a long-life open pit sulphide operation alongside near-term cathode production from existing leach pads.

Why it matters

• Brownfields advantage: Nifty is a former prolific producer with two processing plants on site (SX-EW cathode and 3.0Mtpa concentrator) that require refurbishment rather than greenfield build-out.
• Early cashflow route: Cyprium plans to reprocess the above-ground heap leach pads for early cathode production while advancing the concentrator restart and a new surface mine.
• Scale in reserve and resource: Surface-mineable Reserve 83Mt @ 0.90% Cu (753kt Cu); heap leach pads contain ~91kt Cu; broader Nifty open-pit resource totals ~1.04Mt contained Cu.
• Regional upside: Nearby Maroochydore hosts 370.8Mt @ 0.43% Cu (1.595Mt Cu) with a 106.3Mt @ 0.67% Cu higher-grade domain—potential satellite feed to Nifty’s concentrator.
• Economics: The November 2024 PFS outlined a ~A$1.1bn pre-tax NPV (US$4.25/lb Cu, 0.71 FX).

Use of funds and work program
Proceeds will support cathode refurbishment/finance and sanction, concentrator BFS and mine development, plus permitting and key partnerships. Cyprium’s 2024–2026 workstream shows cathode feasibility, financing and contracts advancing now, followed by cathode refurbishment/restart in 2026, alongside concentrator BFS and mine build activities.

Capital and ownership snapshot
As at 25 August 2025: Market cap A$61.9m, cash A$16.2m, senior debt A$42.3m (maturity Sep-2028) and A$36.0m convertible notes (redemption Mar-2028). Top holders include Flat Footed (19.9%) and Paradice (8.0%).

27 August 2025 | Subiaco, WA – Forrestania Resources (ASX:FRS) has secured firm commitments for $8.61 million via a placement of 42 million new shares at $0.205, struck at a 21.7% premium to the 10-day VWAP and 22.5% premium to the 5-day VWAP (as at 26 August 2025 close). The raise attracted strong support from existing holders alongside new institutional and sophisticated investors, with Bell Potter acting as Lead Manager.

Use of funds (key allocations):

• Hyden tenure: ~$1.33m for 15,000m drilling and metallurgical testwork

• British Hill: ~$1.20m to upgrade resource to Measured status

• Lady Lila: ~$585k for drilling and metallurgical testwork

• Bonnie Vale: ~$500k for drilling and metallurgical testwork

• Hyden & North Iron Cap acquisition + raising costs: ~$5.0m

New shares will be issued under Forrestania’s existing placement capacity (Listing Rule 7 and 7.1A). Proceeds will strengthen the balance sheet and fund resource growth, drilling and metallurgy across Forrestania’s recently expanded gold portfolio (Forrestania, Bonnie Vale, Southern Cross/Eastern Goldfields).

Chairman David Geraghty said the premium placement is a “strong endorsement of the Company’s gold projects at Forrestania and Bonnie Vale,” adding that the funds will ensure Forrestania is well-funded to undertake further gold exploration programmes at those areas.

26 August 2025 | Cloncurry, QLD – True North Copper (ASX:TNC) has confirmed a major step-out at its Aquila Cu-Co-Ag discovery within the Mt Oxide Project, with an infill and extension IP survey growing the geophysical trend from ~250m to >1.3km and defining multiple drill-ready targets. RC drilling is underway.

Key points

• Discovery footprint enlarged: New IP work outlines a continuous chargeability/conductivity corridor now exceeding 1.3km strike, coincident with surface copper-cobalt-silver mineralisation.

• Three parallel trends defined: Aquila, Apollo and Acanthis show high-order IP responses, several comparable to or stronger than the anomaly that led to the Aquila discovery.

• Follow-up drilling in motion: First-pass RC completed at the southern Apollo trend; systematic step-out drilling being planned along strike and at depth on the Aquila trend. Assays from recent Cloncurry programs are pending.

• High-grade reference hits at Aquila (July):

  • 145m @ 0.75% Cu, 0.12% Co, 2.9 g/t Ag from 28m, incl. 53m @ 1.18% Cu (MOX232)

  • 30m @ 2.45% Cu from 20m, incl. 10m @ 5.31% Cu (MOX233)

  • 16m @ 1.25% Cu from 163m (MOX231).

• District scale emerging: Aquila sits ~4km from TNC’s Vero resource (15.03Mt @ 1.46% Cu; 9.15Mt @ 0.23% Co), reinforcing Mt Oxide as a developing multi-deposit copper hub.

Managing Director Bevan Jones said the rapid follow-up has transformed Aquila from a single anomaly into a “potential multi-kilometre-scale copper-cobalt-silver system,” adding that the data-driven approach used to make the discovery is now guiding an aggressive, systematic drilling program across the newly defined extensions.

Next steps

• Complete pad preparation and permitting to step-out test high-priority IP targets north and south of the discovery zone, with initial holes up to ~200m depth.

• Integrate 3D IP models, mapping and geochem to refine ore-shoot positions; continue RC drilling and consider deeper follow-ups as results are received.

25 August 2025 | South Australia – Havilah Resources (ASX: HAV) has reported its widest mineralised intercept to date at the Mingary Mine prospect, returning 49m @ 0.69g/t Au and 0.33% Cu from 122m in hole MNRC013, including 9m @ 1.1g/t Au & 0.47% Cu from 126m and 7m @ 1.03g/t Au & 0.52% Cu from 157m. The hit comes from a 12-hole (1,764m) RC program across the Mingary Mine and Mingary East areas, ~16km south-west of the Mutooroo copper-cobalt-gold deposit.

The mineralised quartz-sulphide lode—flanked by a distinctive garnet-bearing alteration halo—was intersected in all recent holes around MNRC013 and remains open along strike and down dip. Havilah sees potential for supergene-enriched gold and copper up-dip of current intersections. A 3D model constructed from drilling shows >2km of lode continuity, with drilling to date defining ~3km of mineralised strike.

Technical Director Dr Chris Giles said the program “continues to set new milestones” at Mingary, noting the intersection width and lode continuity indicate potentially material volumes of sulphide ore feed for a future central processing hub at Mutooroo.