News

16 June 2025 | Perth, WA – Black Cat Syndicate (ASX:BC8) has unveiled a bold move in its gold strategy, announcing it has built up $24 million (~4,500oz) in physical gold bullion, with plans to maintain a minimum of $20 million (~4,000oz) in dedicated gold storage moving forward.

As production ramps up across its WA operations—including Paulsens, Kal East, and the planned restart at Coyote—the company’s decision to retain gold highlights a growing confidence in the long-term value of bullion over cash reserves.

“It is hard to justify producing a safe haven asset like gold and then converting it into an asset losing its purchasing power in cash,” said Managing Director Gareth Solly.

Black Cat’s strategy is a rare play on gold exposure. By holding gold as inventory and valuing it conservatively, the company allows investors to gain unhedged leverage to bullion and its growing 2.5Moz Resource base. Profits will only be taxed when gold is sold, enhancing capital flexibility.

Upcoming Milestones:

• Kal East surface drilling: June–July

• Myhree/Boundary open-pit mining: June–October

• Paulsens underground & regional drilling: June–September

• Coyote and Mt Clement exploration continuing through Q3

With visible gold in core, gold in stockpiles, and gold in circuit and bullion, Black Cat is truly covering the full spectrum of the gold production cycle.

11 June 2025 | West Perth, WA – Lunnon Metals (ASX: LM8) has intersected shallow, high-grade nickel sulphides in its first underground drilling at the Baker deposit, part of the Kambalda Nickel Project in WA. The results confirm system continuity and provide a strong platform for future mine planning.

Key results from the new underground program include:

• 3.72m @ 3.68% Ni from 23.5m

• 0.76m @ 6.21% Ni from 29.2m

• 1.01m @ 4.38% Ni from 35.0m

These are the first-ever drill intercepts from underground at Baker, validating the geological model and confirming mineralisation starts within 25m of the decline.

In addition, surface drilling at East Baker has returned:

• 6.45m @ 2.79% Ni from 225.1m, including

• 2.05m @ 6.32% Ni from 225.1m

MD Ed Ainscough said:

“We are encouraged by these early underground hits and the potential extensions at East Baker. We’re now in a great position to refine the mining strategy as development progresses.”

Development of the Baker boxcut and decline began earlier this year. Lunnon continues to target first ore from Baker in 2025, supporting its vision to become the next operating nickel miner in Kambalda.

Gorilla Gold (ASX: GG8) has reported exceptional new results from its maiden drilling campaign at the Mulwarrie Project in WA’s Eastern Goldfields, significantly expanding the known mineralised footprint and confirming the discovery of two high-grade parallel gold lodes.

Key intercepts include:

• 4m @ 29.3 g/t Au (MWEX064) between existing resource zones

• 10m @ 5.2 g/t Au (MWEX056) in a newly identified lode 200m east

• 7m @ 12.9 g/t Au (MWEX013a) from re-split samples

• 4m @ 6.6 g/t Au (MNEX009), located 1km north of existing mineralisation

With a current JORC resource of 78koz @ 2.8 g/t Au, Mulwarrie’s strike has now extended to 2.5km and remains open in all directions. Three rigs are active at site, and Gorilla aims to deliver a material resource update in Q3 2025.

Exploration and permitting activities are also ramping up across the broader Comet Vale project, including Lakeview, where up to six rigs are expected to be turning in the coming weeks.

CEO Charles Hughes described the discovery as “a very successful maiden drilling program,” noting the substantial upside potential and growth across multiple parallel structures.

Gorilla Gold’s strategic positioning near operational mills, combined with its aggressive drilling campaign, places the company in a strong position to deliver resource growth and further high-grade discoveries in 2025.

28 May 2025 | Perth, WA – Black Cat Syndicate (ASX:BC8) has delivered promising drilling results and infrastructure updates from its Paulsens Gold Operation, where pre-production activities are accelerating ahead of a planned restart in Q4 2025.

Drilling at the nearby Electric Dingo prospect has intersected wide gold zones, enhancing the pipeline of open pit feed options to complement underground production from Paulsens Main Lode.

Drilling highlights at Electric Dingo:

• 55m @ 0.96g/t Au from 0m (EDD23022)

• 22m @ 1.09g/t Au from 1m (EDD23019)

• 8m @ 1.13g/t Au from 63m (EDD23018)

Black Cat now believes Electric Dingo has the potential to deliver high-tonnage, low-strip oxide feed, with a Mineral Resource Estimate update planned for mid-year.

Meanwhile, site refurbishment is well advanced, with the following key milestones:

• Processing plant commissioning scheduled for Q4 2025

• Accommodation village, camp kitchen, and communications infrastructure upgrades underway

• Dewatering of the Paulsens underground workings has commenced

• Revised underground mine plan due shortly

MD Gareth Solly commented:

“We’re on track to restart Paulsens in Q4. Electric Dingo has emerged as a strong satellite feed source, helping us build a robust start-up plan with multiple ore sources.”

Paulsens was previously a high-grade gold producer (902koz at 7.3g/t) and is now being rapidly progressed toward a new production phase under Black Cat’s ownership.

Petratherm Limited (ASX: PTR) has announced exceptional initial results from its April drilling campaign at the Rosewood heavy mineral sands (HMS) prospect, part of the Muckanippie Project in South Australia's northern Gawler Craton.

The first 10 holes returned some of the highest-grade heavy mineral intercepts to date, extending the mineralised zone a further 1.6km northwards. This marks a major advancement, pushing the confirmed mineralised corridor at Rosewood East to at least 3.6km in length, with mineralisation still open to the north.

Key intercepts include:

• 26m @ 17.2% HM from 7m, including 6m @ 36.4% HM (25RW002)

• 32m @ 11.1% HM from 10m, including 3m @ 22.7% HM (25RW003)

• 15m @ 11.5% HM from 6m, including 5m @ 20.9% HM (25RW004)

• 8m @ 13.1% HM from 6m, including 4m @ 20.5% HM at the northernmost hole (25RW010)

Importantly, these results build on previous success, further confirming widespread, shallow, high-grade mineralisation across a footprint now exceeding 15km².

Petratherm CEO, Peter Reid, noted:

“These results highlight the impressive scale and continuity of high-grade mineralisation at Rosewood. We look forward to the remaining 63 assays from Phase 2 and initiating the next phase of step-out drilling in coming weeks.”

Bulk sampling and metallurgical test work are underway to assess the project’s commercial potential, with initial product generation expected soon.

The Muckanippie Project is emerging as a standout HMS discovery, with Petratherm’s aggressive exploration strategy delivering strong early success in its search for titanium-rich heavy mineral sands.

Meeka Metals Limited (ASX: MEK) has delivered another set of strong drilling results from its Turnberry deposit within the Murchison Gold Project, WA. The company has intersected shallow, high-grade gold south of the existing Stage 1 Turnberry Central open pit, reinforcing the project's growth potential.

Key highlights from the recent RC drilling program include:

• 10m @ 5.20g/t Au from 37m, including 2m @ 23.23g/t Au (25TBRC009)

• 1m @ 15.83g/t Au from 61m

• 16m @ 1.39g/t Au from 34m, including 7m @ 2.25g/t Au

• 5m @ 2.68g/t Au from 55m, including 1m @ 10.33g/t Au

These results extend mineralisation 200m south of the current pit and highlight the potential to expand Meeka’s production plans. The new data will feed into an ongoing re-evaluation of the Stage 1 pit design, which may now extend beyond the originally planned ~2 years.

Drilling is continuing at Turnberry South, where a new ore zone was recently defined. The company remains on track to commission its processing plant in June 2025, with first gold production targeted shortly after.

Managing Director Tim Davidson commented, “It is apparent from the broad zones of shallow high-grade gold in this drilling that we have far more oxide gold than contemplated in the DFS. It highlights the opportunity to organically grow the production plan.”

Meeka’s Murchison Gold Project hosts a 1.2Moz resource and is fully permitted, with open pit mining underway and site infrastructure nearing completion.

Rox Resources Limited (ASX: RXL) has released a promising drilling update from its flagship Youanmi Gold Project in Western Australia, with recent results confirming the continuation of high-grade gold mineralisation across multiple deposits.

The recently completed 35,000-metre Step-up drilling program has delivered a series of strong assay results, with standout intercepts including:

• RXDD203: 11.90m @ 4.37g/t Au from 451.0m and 1.96m @ 17.13g/t Au from 471.9m (Youanmi Main)

• RXDD190: 6.73m @ 6.66g/t Au from 447.3m (Youanmi Main)

• RXRC569: 5.00m @ 5.33g/t Au from 53.0m (Interceptor)

• RXDD205: 14.77m @ 1.33g/t Au from 407.2m and 1.00m @ 9.92g/t Au from 434.0m (United North)

The program aimed to grow near-mine resources and upgrade inferred mineralisation in support of the upcoming Definitive Feasibility Study (DFS), which remains on track for release in July 2025.

Rox Resources Managing Director & CEO, Mr Phillip Wilding, stated:

“The Step-up drill program has been highly successful in increasing our understanding of the Youanmi ore system. These results affirm the high-grade nature of the deposit and support the case for advancing to development and production.”

Ongoing activities at Youanmi include:

• Two diamond rigs targeting extensions at Youanmi North, United North, Pollard and Prospect

• Progress on dewatering infrastructure to enable decline access to underground development

• Completion of metallurgical test work, with Albion Process™ testing underway

• Preparations for updated Mineral Resource Estimate (MRE) and environmental approvals

Rox continues to build momentum as it advances towards re-establishing mining operations at Youanmi, a historically high-grade gold producer with strong infrastructure already in place.

23 May 2025 | West Perth, WA – Great Boulder Resources (ASX:GBR) has confirmed a new gold discovery at Side Well South and extended the Eaglehawk deposit by another 200 metres, highlighting the growing potential of the company’s flagship Side Well Gold Project near Meekatharra.

Key RC intercepts from Side Well South include:

• 14m @ 1.64g/t Au from 83m, including 4m @ 3.59g/t Au (25SWRC001)

• 19m @ 0.84g/t Au from 28m, including 5m @ 2.01g/t Au (25SWRC003)

• 8m @ 1.68g/t Au from 107m (25SWRC004)

Assays from 16 additional RC holes are pending. Meanwhile, AC drilling at Eaglehawk returned:

• 8m @ 2.19g/t Au from 60m, including 4m @ 4.23g/t Au (25SWAC137)

These results confirm primary mineralisation beneath recent AC hits and highlight further expansion potential across multiple trends.

Managing Director Andrew Paterson commented:

“It’s really exciting to see immediate progress at Side Well South and the extension at Eaglehawk. We’ve now confirmed primary gold in multiple new zones, and we’re only just beginning to test the broader system.”

Next steps:

• Completion of Phase 2 AC drilling at Side Well South

• RC follow-up at Ironbark (recent 8m @ 9.07g/t Au intercept)

• Regional geophysics and heritage clearance for the northern Central Corridor

• Scoping study for Ironbark on track for delivery this quarter

Great Boulder has also published a revised Exploration Target for Side Well totalling up to 1.1Moz, based on defined prospects across Mulga Bill, Eaglehawk, Ironbark, Saltbush and Side Well South.

22 May 2025 | West Perth, WA – Kali Metals (ASX:KM1) has expanded its Marble Bar Gold Project in the Pilbara by 28.8km² following the acquisition of exploration licence E45/6389, bringing the project’s total landholding to approximately 96km².

The newly acquired tenement sits directly along strike and immediately north of Kali’s existing 9.5km gold-in-soil anomaly, where previous rock chip sampling returned grades of up to 4.0g/t gold. Kali believes the mineralised trend extends into the new area and intends to begin exploration immediately, with heritage approvals already in place.

Managing Director Paul Adams commented:

“This acquisition not only consolidates our landholding but also significantly strengthens the exploration potential at Marble Bar. With gold prices recently reaching record highs, we’re maintaining a clear focus on advancing this highly prospective area.”

Kali also announced it has recently completed its most extensive surface sampling program to date, collecting 299 rock chip samples across the project. Assay results are expected in the coming weeks.

Acquisition Terms:

• $20,000 cash and scrip consideration (3.5M shares)

• Two deferred share payments tied to JORC resource milestones:

  • 100,000oz and 250,000oz gold at 0.5g/t cut-off within four years

The Marble Bar Project is strategically located near Calidus Resources’ Warrawoona/Klondyke operations and forms part of Kali’s broader gold and lithium portfolio across Australia’s key mineral belts.

22 May 2025 | South Perth, WA – Astral Resources (ASX:AAR) has delivered outstanding metallurgical results from its Feysville Gold Project, with gold recoveries of up to 98.1% confirmed from initial testwork at the Kamperman and Rogan Josh deposits. The results support the inclusion of these satellite deposits in the upcoming Mandilla Pre-Feasibility Study (PFS).

Five composite samples from Kamperman and two from Rogan Josh underwent gravity and cyanide leach testing. Three Kamperman samples returned an average recovery of 98.1%, confirming free-milling characteristics. The remaining two, which contained elevated copper, recorded 87.9% but are expected to improve with higher cyanide concentrations in follow-up tests.

Key Results:

• Kamperman: 3 samples averaged 98.1% recovery; 2 samples averaged 87.9% (high copper impact)

• Rogan Josh: 2 samples averaged 91.5% recovery at an average head grade of 0.70g/t Au

• Low reagent consumption and rapid leach kinetics across both deposits

Managing Director Marc Ducler stated:

“These results clearly demonstrate that the simple, low-cost processing route proposed for Mandilla will also suit ore from Kamperman and Rogan Josh. This is a key step toward incorporating Feysville into the broader Mandilla mine plan.”

The combined Feysville resources now total 5Mt @ 1.2g/t Au for 196koz, strengthening Astral’s consolidated Mineral Resource base of 1.76Moz.

Additional assay results from RC and aircore drilling at Feysville are due later this quarter, alongside ongoing in-fill and extensional drilling at the nearby Iris and Hestia deposits.