News

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.

Hammer Metals Limited (ASX: HMX) has identified 5 high-ranking gold targets for drilling at its Bronzewing South tenement, located near the multi-million-ounce Bronzewing mine in Western Australia's Yandal Belt.

Key Highlights:

• Historical high-grade intercepts exceeding 20g/t gold discovered within 40 metres of Hammer’s Bronzewing South boundary.

• Key targets identified include the Boundary Eastern Zone, Boundary Northern Zone, Central Mineralised Zone, and Ken’s Bore.

• Upcoming Reverse Circulation (RC) drilling and diamond drilling programs are planned to test these high-potential zones:

  • Initial focus on a zone of high-grade mineralisation (2m at 20.8g/t Au historically drilled in 1995).

  • Previous Hammer drilling yielded 20m at 1.5g/t Au, including intervals of 8m at 2.4g/t Au and 4m at 3.9g/t Au.

  • Further exploration will test the granite contact at Ken’s Bore, previously yielding surface samples up to 12.1g/t gold.

Managing Director Daniel Thomas remarked, “It’s remarkable we have such highly prospective ground so close to the significant Bronzewing mine, yet historically underexplored. These compelling targets, bolstered by strong gold prices and investor interest, make our upcoming drilling campaign particularly exciting.”

Drilling is scheduled to commence by June, aiming to extend known mineralisation and uncover new gold zones.

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

Meeka Metals Limited (ASX: MEK) has achieved a significant milestone at its Murchison Gold Project in Western Australia, mining the first ore from the St Anne’s North open pit as the processing plant expansion nears completion.

Key Highlights:

• First ore successfully mined from St Anne’s North open pit, building ore stockpiles on the Run-of-Mine (ROM) pad in preparation for processing plant commissioning in June 2025.

• Mining has also commenced at Turnberry Central, marking the second of five planned Stage 1 high-grade oxide open pits.

• Major structural works at the processing plant are complete, with significant advancements in gold room upgrades and ongoing installations of electrical, air, and water services.

• Power station upgrade at Andy Well commenced and will be completed in early May 2025.

Managing Director Tim Davidson remarked, “This achievement underscores our commitment and steady progress towards first gold production. The commencement of mining at Turnberry Central ensures a continuous flow of high-grade oxide ore to our processing facilities.”

Looking ahead, Meeka continues to ramp up site activities, including further process plant upgrades, underground mining preparations at Andy Well, and planned commissioning of the expanded plant in June 2025.

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

Venus Metals Begins RC Drilling at Sandstone (Bellchambers) Gold Project

Venus Metals Corporation Limited (ASX: VMC) has commenced a reverse circulation (RC) drilling program at its Sandstone (Bellchambers) Gold Project, situated approximately 23km southwest of Sandstone in Western Australia.

Key Highlights:

• The drilling campaign comprises approximately 2,000 metres across 16-18 RC holes.

• Aimed at upgrading current indicated mineralisation to measured, and exploring extensions to the existing resource.

• The Bellchambers gold deposit hosts a JORC 2012 resource of 722,000 tonnes at 1.31 g/t gold, containing 30,500 ounces, with 22,100 ounces in the indicated category.

• Previous metallurgical testing has shown promising recovery rates:

  • Oxide samples: 86.3% to 92.0%

  • Transition samples: 81.9% to 95.6%

  • Fresh samples: 75% to 90.1%

• Exploration potential is highlighted by previous significant drill results including:

  • 11m at 4.69 g/t gold from 12m

  • 8m at 1.22 g/t gold from 30m

Managing Director Matthew Hogan stated, "This drilling is crucial to our strategy of expanding the gold resource at Bellchambers. The proximity to infrastructure at Youanmi presents a compelling near-term development scenario."

Drilling is expected to take approximately two weeks, with assay results anticipated shortly thereafter. An updated resource estimate and additional metallurgical testwork will follow.

For further information, visit www.venusmetals.com.au.

Javelin Minerals Limited (ASX: JAV) has successfully completed its maiden reverse circulation (RC) drilling program at the Eureka Gold Project near Kalgoorlie, Western Australia, aiming to expand the project's existing gold resources.

Highlights:

• Completed 22 RC holes for a total of 2,779 metres.

• Drilling targeted expansion of the current resource, intersecting key structures marked by zones of increased shearing and alteration.

• Eureka Gold Project hosts a JORC 2012 Resource of 2.45Mt at 1.42g/t gold, totalling 112,000 ounces, with 62,000 ounces classified as Indicated.

• Potential identified for near-term mining of approximately 34,000 ounces from the southern Eureka Pit.

• Assay results from the drilling program are expected in early May 2025.

• High-grade historical intersections include 4m at 135g/t Au and 6m at 19.58g/t Au, highlighting the project's substantial potential.

Executive Chairman Brett Mitchell remarked, "There is immense scope to grow the Eureka resource, evidenced by our initial drilling intersecting targeted structures as planned. These results will guide our next exploration phase."

Javelin is also advancing discussions regarding toll treatment opportunities with nearby processing facilities, aligning with their near-term mining objectives.

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

Rumble Resources Limited (ASX: RTR) has provided an encouraging update on its Western Queen Gold Project in Western Australia, highlighting significant progress in mine development and promising exploration results.

Mine Development Highlights:

• First ore extraction at Western Queen is anticipated by the end of the year, pending final approvals and the execution of key agreements.

• Definitive Agreements including a Co-operation Agreement, a Primary Facility Agreement (up to $35 million working capital), and a Specific Security Deed are nearing finalisation.

Exploration Success:

• Recent drilling at the Duke prospect delivered high-grade gold intersections including:

  • 4m at 6.27g/t gold from 77m, including 1m at 23.03g/t

  • 3m at 6.82g/t gold from 75m, including 1m at 18.61g/t

• Sampling of historical core continues to yield high-grade tungsten results such as:

  • 11.5m at 1.46% WO3 and 0.79g/t gold

  • 3.1m at 1.13% WO3 and 0.61g/t gold

  • 16m at 0.50% WO3 and 2.22g/t gold

CEO Peter Harold commented, “We are pleased with the substantial progress on both development and exploration fronts at Western Queen. The promising results, particularly from Duke, underscore the significant potential of this project.”

Ongoing diamond drilling and further exploration are expected to provide additional updates soon.

Iceni Gold Limited (ASX: ICL) has released encouraging results from its initial RC drilling campaign at the Guyer Prospect, part of its flagship 14 Mile Well Gold Project near Leonora and Laverton, Western Australia.

Key Highlights:

• Initial RC drilling campaign comprising 31 holes totaling 6,420 metres completed.

• First 15 RC holes all intersected significant gold mineralisation, expanding the mineralised footprint.

• Notable intersections include:

  • 10m at 0.67g/t gold from 115m, including 2m at 1.89g/t

  • 15m at 0.47g/t gold from 189m, including 1m at 1.22g/t

  • 13m at 0.52g/t gold from 78m, including 5m at 1.16g/t

• Drilling identified an extensive mineralised and altered granodiorite corridor over 1,000 metres wide, with the full extent yet to be defined.

• The Guyer Prospect is part of a $35 million exploration Farm-In and Joint Venture agreement with Gold Road Resources (ASX: GOR).

Iceni Managing Director Wade Johnson noted, “These results clearly indicate the significant potential of the Guyer Prospect, reinforcing our strategy for accelerated diamond drilling to target high-grade zones within this expansive system."

Diamond drilling and further exploration activities, including a gravity survey and additional aircore drilling, are scheduled to commence shortly.

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