Top 5 ASX Gold Stocks (Updated June 2024)

Year-to-date gain: 326.47 percent; market cap: AU$67.74 million; share price: AU$0.29

Australian Gold and Copper is an exploration company that has spent 2024 focused on advancing the Achilles gold-silver discovery at its South Cobar project in New South Wales, Australia.

The company has made several advancements at the project through its exploration programs this year, including the identification of new targets at Achilles, as reported on April 23.

A subsequent announcement on May 15 caused shares to soar when the company reported follow-up assay results from Achilles with a highlighted drill result of 2.2 grams per tonne (g/t) gold over 43 metres, including 16.9 g/t gold over 5 metres.

The most recent announcement from its exploration program came on June 17, when the company reported further results including 0.6 g/t gold and 64 g/t silver over 24 metres, with 2 g/t gold and 257 g/t silver over 4 metres.

In its news release, the company said it would be starting a follow-up drill program with up to 20 reverse-circulation holes and 10 diamond core holes with the intent of extending the strike length and depth of the deposit.

Shares of the firm reached a year-to-date high of AU$0.56 on May 22 alongside a rally in the gold price.

Year-to-date gain: 123.81 percent; market cap: AU$279.17 million; share price: AU$0.05

WIA Gold is an exploration company focused on developing projects in Africa.

The company's primary goal is to advance the Kokoseb deposit at its Damaran gold project. Kokoseb is located on WIA's Okombahe exploration licence, which consists of 12 tenements across a 2,700 square kilometre area within the Damaran Belt in Northwest Namibia. WIA Gold holds an 80 percent stake in the exploration licence, with the remaining 20 percent being held by Namibian state-owned mining company Epangelo.

On April 16, the company released an updated resource estimate for Kokoseb, reporting 2.12 million ounces of gold from 66 million tonnes at 1 g/t gold with a cut off of 0.5 g/t gold.

The company also owns the early stage Bouafle project, which is located in Côte d'Ivoire and has been granted two exploration permits, with a third under application. On May 27, WIA reported that it had commenced reverse-circulation drilling at the site with the intention to test 10 trends previously identified. It said it was planning for an initial 6,000 metres with an optional 4,000 metres depending on results.

Shares of WIA reached a quarterly high of AU$0.125 on May 21, buoyed by the gold price.

Year-to-date gain: 75.38 percent; market cap: AU$432.45 million; share price: AU$2.20

Southern Cross Gold is an exploration company that is working to advance its flagship Sunday Creek project, located north of Melbourne, Australia. The property covers an area of 19,385 hectares and hosted previous gold mining between 1880 and 1920. More recently, the site saw exploration work during the 1990s that was focused on shallow, previously mined workings. Since being spun out by Mawson Gold (TSXV:MAW,OTC Pink:MWSNF) in 2021, Southern Cross has drilled 110 holes for a total of 44,083 metres along 1,200 metres of strike.

To date, the company has not prepared a resource estimate for Sunday Creek, but exploration at the property has revealed high-quality assays. On March 5, the company reported the best hole drilled so far, with an interval of 7.2 g/t gold over 455.3 metres, including an intersection of 2,318 g/t gold over 1 metre.

The most recent exploration results from Sunday Creek came on April 15, when the company reported eight intervals over 50 g/t, including 327.7 g/t gold over 0.9 metres. Southern Cross said exploration at the project will continue as it works on an additional 10 holes focused on demonstrating the district-scale potential of Sunday Creek.

Shares of Southern Cross reached a quarterly high of AU$3.21 on May 9.

Year-to-date gain: 74.19 percent; market cap: AU$936.05 million; share price: AU$0.90

Spartan Resources is a gold exploration and development company whose core assets are located in Western Australia. Its flagship operation, the Dalgaranga gold mine, produced 71,153 ounces of the metal in 2022 before being placed on care and maintenance as low grades reduced the asset's viability.

Spartan has since turned its focus to increasing grades and expanding Dalgaranga's resource estimate. It has largely focused on the Never Never deposit, which it discovered in 2022. In December 2023, the company said it had increased Dalgaranga's resource by 43 percent, reporting that Never Never holds 5.16 million tonnes at 5.74 g/t gold for 952,900 ounces, while Gilbey's Complex has 15.99 million tonnes at 1.45 g/t gold for 739,800 ounces.

Exploration at the site has continued in 2024, and on April 18 Spartan reported the discovery of a new lode, dubbed the Pepper prospect, situated 90 metres south of the main Never Never deposit.

The company said Pepper has similar mineralisation and grades to Never Never, with one assay showing 15.86 g/t gold over 17.52 metres, which includes an intersection of 27.89 g/t gold over 9.22 metres.

Spartan has continued to explore Pepper, and on June 11 announced further high-grade mineralisation at depth. Assays include an intercept of 12.12 g/t gold over 30.97 metres, featuring 92.19 g/t gold over 3.47 metres.

Shares of Spartan reached a year-to-date high of AU$0.915 on June 24.

Year-to-date gain: 72.73 percent; market cap: AU$312.94 million; share price: AU$0.19

Aurelia Metals is a mining and exploration company with two operating gold mines in New South Wales, Australia.

Its Peak mine is located in the northern portion of the Cobar Basin and began production in 1992. The site consists of two underground mines and an 800,000 tonne per year processing plant. In its quarterly activities report for the period ended on March 31, Aurelia reported that the mine had processed 148,000 tonnes of ore and produced 5,343 ounces of gold, bringing the total for the first three quarters of its 2024 fiscal year to 19,591 ounces.

Aurelia’s Dargues mine is in the Southern Tablelands region and hosts an underground mine as well as crushing, ball milling, flotation and dewatering circuits. During the same quarter, Dargues processed 88,000 tonnes of ore for gold production of 9,205 ounces. The mine has produced 26,621 ounces of gold over the last three quarters.

Aurelia has tracked higher along with the price of gold, reaching a year-to-date high of AU$0.21 on May 20.