News

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.

Ora Banda Mining Limited (ASX: OBM) has delivered outstanding exploration results from follow-up drilling at the Little Gem Prospect, part of the Riverina Gold Camp in Western Australia. The latest drill holes confirm multiple high-grade gold lodes, supporting the potential for a large-scale greenfields discovery.

Key Highlights:

✅ Exceptional High-Grade Gold Intersections

• 22.7m @ 5.0 g/t Au from 400m depth, including:
  • 14.5m @ 6.8 g/t Au
  • 6.2m @ 10.8 g/t Au
• 10.9m @ 6.4 g/t Au, including:
  • 3.6m @ 16.9 g/t Au
  • 0.95m @ 55.9 g/t Au

✅ Mineralisation Extends Over 1.6km Strike

• Confirmed carbonate-hosted gold system down to 400m depth.
• Strong correlation to the Sunraysia Deposit, 4km south of Little Gem.

✅ Next Steps: Major Follow-Up Drilling Program

• 16-hole diamond drill program committed, testing a 4.7km strike from Little Gem to Sunraysia.
• 7,300m drilling campaign over 10 weeks, with results expected in Q2 2025.

Ora Banda’s Managing Director, Luke Creagh, commented:
"These latest results confirm Little Gem as a significant high-grade gold discovery. The continuity of the carbonate-hosted mineralisation over a 4.7km strike represents a major new growth opportunity for Ora Banda."

With ongoing exploration success and a fast-tracked drilling campaign, Ora Banda is well-positioned to unlock the full potential of the Riverina Gold Camp.

Catalyst Metals Limited (ASX: CYL) has commenced first stoping ore production at its Plutonic East underground mine, marking a significant step in the company’s strategy to expand production across the Plutonic Gold Belt in Western Australia.

Key Highlights:

✅ First Ore Mined at Plutonic East

• Plutonic East is a pre-existing underground mine, last mined by Barrick Gold in 2012 at ~A$1,500/oz gold prices.
• Ore will be processed through the currently underutilised Plutonic processing plant, enhancing operational efficiency.
• Plutonic East is expected to lower operational risk by diversifying ore sources beyond the main Plutonic underground mine.

✅ Plutonic Gold Belt Growth Strategy

• Plutonic East is the first of three new mining areas planned for development over the next 12-18 months.
• Catalyst aims to double production to 200,000oz per year at a capital cost of just A$31 million.
• Next developments: K2 and Trident mines, following the successful ramp-up of Plutonic East.

✅ Major Production Milestone for Catalyst Metals

• 110,000oz annual gold production across Plutonic and Henty mines.
• 3.4Moz total Mineral Resource, with 1.0Moz Ore Reserve.
• Cash & Bullion: A$84 million, with zero debt, providing strong financial backing for expansion.

Strategic Outlook

Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
"Plutonic East coming online is a transformational step in our growth strategy. It gives us more ore sources, lowers operational risk, and demonstrates our ability to develop the Plutonic Gold Belt into a long-life, multi-mine operation."

With a well-funded development plan, expanding ore sources, and a scalable processing plant, Catalyst Metals is well-positioned for sustained gold production growth in Western Australia.

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

Great Boulder Resources (ASX: GBR) has reported exceptional high-grade gold intersections at the Eaglehawk Prospect, part of its Side Well Gold Project near Meekatharra, Western Australia. The latest drilling results confirm the potential for a large-scale, high-grade gold system, supporting the company’s strategy for resource expansion.

Key Highlights:

✅ Eaglehawk Drilling Success

• 29m @ 4.79 g/t Au from 76m, including:
  • 10m @ 10.20 g/t Au
  • 4m @ 20.50 g/t Au from 92m
• This is the highest-grade intercept ever drilled at Eaglehawk, validating Great Boulder’s focus on contact-related gold veins.
• Drilling has now defined gold mineralisation over 900m of strike, with the system remaining open for expansion.

✅ New Discoveries at Side Well South

• Aircore (AC) drilling at Side Well South has returned further gold intersections:
  • 2m @ 1.66 g/t Au from 57m (25SWAC047)
  • 2m @ 1.30 g/t Au from 52m (25SWAC034)
  • 1m @ 1.79 g/t Au from 29m (25SWAC011)
• A 17m mineralised zone was identified, with geochemical anomalies pointing to a potential gold-bismuth-molybdenum system.

Strategic Growth and Next Steps

• RC drilling is ongoing at Mulga Bill and Eaglehawk, targeting deeper and higher-grade extensions.
• Follow-up drilling at Side Well South is planned once heritage clearance is granted.
• Assays pending for 38 holes, including 16 RC holes at Eaglehawk and Mulga Bill​.

Great Boulder’s Managing Director, Andrew Paterson, highlighted the impact of these results:
"This thick, high-grade gold intercept at Eaglehawk is a game-changer. It supports our exploration model and significantly enhances our resource growth potential. With drilling continuing, we are confident in further discoveries across the Side Well Project."

With a 668,000oz gold resource at Side Well, ongoing exploration success, and a strong technical team, Great Boulder is positioning itself as a key player in the WA gold sector.

Litchfield Minerals Limited (ASX: LMS) has unveiled a significant new discovery at its Oonagalabi Project in the Northern Territory, confirming a large, high-chargeability sulphide system that remains untested by historical drilling​.

Key Highlights:

• Two high-intensity sulphide-bearing anomalies extending over 1km strike length and +500m depth.
• High-grade core identified, with chargeability values of 40mV/V to 60mV/V, indicating the potential for stronger sulphide mineralisation.
• Historic drilling only tested peripheral zones, leaving the strongest chargeability anomalies untested.
• Drilling-for-equity agreement with Bullion Drilling, allowing up to 2,000m of Phase 1 drilling to proceed while preserving capital.
• Environmental Mining Licence approved for public exhibition, paving the way for drilling approvals.

Major Discovery Potential at Oonagalabi

The Induced Polarisation (IP) survey, completed by Planetary Geophysics, confirmed the presence of two sub-parallel chargeability anomalies at depths exceeding 500m. The results indicate a potential skarn-related or intrusion-driven sulphide system, with a newly interpreted source intrusion 900m northeast of Oonagalabi​.

Litchfield’s Managing Director & CEO, Matthew Pustahya, stated:
"The results from this latest survey provide a breakthrough in our understanding of the Oonagalabi system. We now have clear evidence of a major, continuous chargeable body extending over 1km, with a high-chargeability core that remains completely untested."

Upcoming Drilling & Exploration Strategy

Litchfield has designed a 6-hole Reverse Circulation (RC) drilling program to directly target the strongest anomalies, with drilling set to commence in late March / early April 2025​.

• 5 RC holes will test the western anomaly, where chargeability values exceed 40mV/V.
• 1 RC hole will test the newly identified eastern anomaly, which has no surface expression.
• 150m drill spacing to efficiently define high-grade zones within the sulphide system.
• Additional geophysical surveys will refine drill targets and test the interpreted source intrusion.

Strategic Drilling Partnership Secured

To accelerate exploration while minimising dilution, Litchfield has partnered with Bullion Drilling Co., one of Australia’s premier drillers, under a drill-for-equity agreement:

• Up to 2,000m of drilling covered under the agreement.
• 50% of drilling costs paid in Litchfield shares, preserving cash for future exploration.
• Equity priced at 12c per share, representing a 26% premium to Litchfield’s last closing price​.

With a large untested chargeability anomaly, a clear geological model, and a fully funded drilling campaign, Litchfield Minerals is well-positioned for a major exploration breakthrough at Oonagalabi in 2025.