News

14 May 2025 | Perth, WA – Ausgold Limited (ASX:AUC) has reported strong gold intercepts across multiple regional prospects within its 100%-owned Katanning Gold Project (KGP) in Western Australia, bolstering the company’s growing pipeline of potential satellite deposits.

The latest results come from a 32-hole RC drilling campaign totalling over 4,300m, targeting four regional prospects along the Stanley Thrust: Zinger, Stanley Hill, Moulyinning and McDougalls.

Highlights from Zinger include:

• 10m @ 4.75g/t Au from 23m, incl. 2m @ 23.20g/t Au (NBRC011)

• 51m @ 0.37g/t Au from 17m (NBRC016)

• 38m @ 0.47g/t Au from 68m, incl. 9m @ 1.22g/t Au (NBRC015)

Other notable intercepts:

• Stanley Hill: 11m @ 0.42g/t Au and 5m @ 0.65g/t Au (up to 2.95g/t)

• Moulyinning: 6m @ 0.51g/t Au, incl. 1m @ 2.57g/t Au

• McDougalls: 17m @ 0.22g/t Au from 30m and 5m @ 0.41g/t Au from 82m

Executive Chairman John Dorward said:

“This drilling is the final piece of our exploration strategy, confirming the potential for a significant gold district around Katanning. These regional prospects could underpin a network of satellite deposits that enhance the scale and optionality of the broader KGP.”

The results support Ausgold’s three-pronged campaign strategy: de-risking early-stage mining zones at KGP, adding resources, and discovering new gold systems across the 3,500km² tenement package.

Ongoing diamond drilling at Datatine in the Northern Zone is expected to deliver further high-grade results later this quarter.

14 May 2025 | Perth, WA – Core Lithium (ASX:CXO) has released a Restart Study for its flagship Finniss Lithium Project in the Northern Territory, confirming its transformation into a long-life, low-cost underground mining operation with the potential to produce high-quality spodumene concentrate for the next two decades.

The updated study outlines a 20-year mine life, underpinned by 10.73Mt of Ore Reserves at an average grade of 1.29% Li₂O, and forecasts average production of ~205ktpa SC6 equivalent.

Key Highlights:

• All mining to shift to underground methods at BP33 and Grants, improving ore quality and reducing surface impact

• Operating costs reduced by 23%, with mining costs down 40% to $63–72/t and processing costs cut by 33%

• Processing capacity increased to 1.2Mtpa, enabling higher throughput and efficiency

• Capital requirement of $175–200 million, with Core holding $30 million in cash and no debt

• Strong infrastructure and export readiness via the Port of Darwin

CEO Paul Brown said:

“The Restart Study firmly positions Finniss as a competitive, scalable lithium operation capable of weathering price cycles and delivering sustainable value.”

Core’s updated strategy also highlights exploration upside at Blackbeard and BP33 Deeps, along with potential throughput expansions.

14 May 2025 | Perth, WA – Nimy Resources (ASX:NIM) has launched its Phase 2 drilling program at the high-grade Block 3 gallium discovery, part of the company’s extensive Mons Project in Western Australia.

The campaign targets the recently defined Block 3 Central anomaly, with the aim of extending mineralisation along strike and at depth. The 3-week program is expected to support the establishment of a Maiden JORC Resource, a key milestone for the emerging gallium project.

Key Highlights:

• Drilling to expand on previously identified near-surface gallium mineralisation.

• Focus on testing new high-priority targets within the broader 3km x 1.5km Block 3 zone.

• Metallurgical testing underway at Curtin University following CSIRO’s confirmation of high-grade gallium (400–800g/t) in chlorite.

• Phase 3 drilling to follow upon interpretation of Phase 2 results.

Managing Director Luke Hampson said:

“This program is a key step toward defining a world-class gallium deposit. Interest from potential customers reinforces the strategic importance of our progress at Block 3.”

The Mons Project spans over 3,000km² in the Yilgarn Craton, offering multi-commodity potential including gallium, copper, nickel, cobalt, gold and PGEs. Nimy continues to advance exploration in collaboration with CSIRO and Curtin University.

14 May 2025 | Subiaco, WA – Leeuwin Metals (ASX:LM1) has reported strong assay results from its maiden RC drilling campaign at the Marda Gold Project in Western Australia, confirming the presence of shallow, high-grade gold mineralisation at the Marda Central prospect.

The Phase 1 program, comprising 2,000m of RC drilling, targeted extensions beneath existing open pits. Intercepts have demonstrated excellent continuity and mineralisation at depth, supporting immediate follow-up work.

Key intercepts include:

• 16m @ 2.00g/t Au from 134m and 8m @ 3.04g/t Au from 215m (MGRC0006)

• 22m @ 1.25g/t Au from 123m, incl. 3m @ 6.3g/t Au (MGRC0004)

• 21m @ 1.09g/t Au from 98m and 9m @ 2.46g/t Au from 190m (MGRC0005)

• 2m @ 5.45g/t Au from 77m (MGRC0003)

Executive Chairman Christopher Piggott commented:

“This is an outstanding start at Marda. These broad, high-grade intercepts confirm the depth and strike potential of the system. We’re now accelerating Phase 2 drilling to follow up.”

Next steps:

• Phase 2 RC drilling to commence late May

• Planning underway for Evanston Prospect, ~50km north of Marda Central

• Ongoing 3D modelling and regional prospect reviews

The Marda Project covers a 70km greenstone corridor and includes a granted mining lease with proximity to infrastructure, providing strong potential for near-term development.

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.