
October 30, 2024
Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”), is pleased to present reconnaissance drill results at the Sierra Cuadrada uranium project, Chubut province, Argentina (Figure 1).
HIGHLIGHTS
- Auger drilling at Sierra Cuadrada highlights extensive areas of near surface uranium mineralization including:
- Assay results have been received for the shallow reconnaissance holes including 6 samples >1000ppm U3O8 (to maximum 2,650 ppm U3O8) and 2 samples >500ppm U3O8 (to maximum 900 ppm U3O8)
- 30% of reconnaissance hole assays showed anomalous uranium mineralization.
- Mineralisation varies in thickness from 0.5m to 4m, with an average thickness 1.5m. The largest being 6km long and 3km wide and remains open.
- These samples were instrumental in understanding the shallow subsurface geology and on prioritising target areas. Multiple areas are being evaluated to identifying priority areas for follow up trenching, mapping and delineation.
- We are waiting on 407 samples from a further 212 drill holes that are currently being prepared for assaying.
- A second auger rig has been delivered to site accelerating the current grid drill programme.
- An additional 37 uranium tenement applications lodged - total U exploration area 2,243km2. Several of the new applications are in the adjacent Rio Negro province and are prospective for sandstone hosted uranium and in-situ recovery (ISR) mineralisation.
To date 609 auger holes have been completed to an average depth of 3.91m over both regional reconnaissance and grid drilling.
Visible uranium has been recorded in 146 of the 303 holes assayed to date and 90 of those holes have returned anomalous grades up to 2,650ppm U3O8.
The most significant results from the earlier reconnaissance drilling are included in Table 1.
Table 1: Significant assays from regional reconnaissance vertical auger drilling (using cut off grade of 200ppm U3O8)
Drilling is currently being undertaken on a 400m x 400m grid, with some infill on 200m x 200m grid (Figure 2). Samples from a further 212 drill holes are currently being prepared for assaying, with visible uranium recorded in 38% of those holes.
As there is anomalous uranium on many of the tenements in the Sierra Cuadrada portfolio, and radiometric uranium anomalies on all of them, the purpose of the grid auger drilling is to determine areas of mineralisation suitable for trenching and sampling to enable the completion of a JORC compliant mineral resource estimate.
Following earlier reconnaissance sampling and auger drilling, the tenement portfolio has been divided into five priority areas (P1-5). Priority has been defined based on historical exploration, prior airborne radiometric anomalies, Piche field reconnaissance, recent field sampling and auger drilling1.
Detailed grid drilling commenced on the P4 (tenements Teo 5, Teo 6 and Peponi 3) area where land access agreements were first achieved. Access agreements have since been executed on P3 area and are expected to be confirmed on P1 & P2 areas in the near term.
Click here for the full ASX Release
This article includes content from Piche Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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05 March
Piche Resources
Investor Insight
With high-quality, drill-ready assets, with world-class discovery potential, Piche Resources is a compelling business case for investors looking to leverage a bull market for uranium and gold.
Overview
Piche Resources (ASX:PR2) is focused on discovering significant uranium and gold deposits in Australia and Argentina. The company boasts a portfolio of high-quality, drill-ready assets with world-class discovery potential, presenting a compelling opportunity for investors aiming to capitalize on the bullish markets for uranium and gold.
Piche Resources’ portfolio includes the Ashburton uranium project in Western Australia’s prolific Pilbara region; the Sierra Cuadrada uranium project in the San Jorge Basin in Argentina; and the Cerro Chacon gold project which shares geological similarities with the Cerro Negro mine in Argentina. Exploration work at these assets indicate their potential to become world-class projects.
Piche has an internationally recognized board focused on creating long-term shareholder value, and an in-country technical team in Argentina with a proven track record of taking projects from discovery through to development.
Company Highlights
- The company’s Australian asset is the Ashburton uranium project, which has been drilled previously and recorded high-grade uranium intersections over significant widths.
- In Argentina, the company’s Sierra Cuadrada uranium project in the San Jorge Basin has a significant history of high-grade, near-surface uranium mining operations.
- Drilling at one of the prospects at Sierra Cuadrada has shown visible uranium in numerous holes. Multiple other prospects are drill-ready and have the potential to host tier 1 uranium deposits.
- Exposure to gold with high-quality precious metal projects in Argentina that boast surface outcrop samples with gold grade up to 13 g/t gold.
- Internationally renowned board and management team with extensive uranium and gold exploration and development experience.
Key Projects
Uranium: Ashburton Project, Australia
Project Highlights
- Location: Pilbara region, Western Australia, approximately 1,150 km north of Perth.
- Project Area: Comprises three exploration licenses covering a 122 sq km land package.
- Historical Exploration: Previous drilling by Pancontinental (62 holes) identified 71 intercepts with grades exceeding 500 ppm U₃O₈, averaging approximately 1.1 lbs of U₃O₈ per tonne. Notable high-grade drilling results include:
- 10.5 m at 4,380 ppm U₃O₈ (Hole AR1004)
- 9 m at 3,490 ppm U₃O₈ (Hole AR1009)
- Recent Development: In 2024, Piche completed a combined reverse circulation and diamond drilling program totaling 3,082.8 meters. The results exceeded expectations, validating previous findings. A follow-up drilling program is planned for mid-2025, targeting both Angelo A & B prospects and other areas within the tenement portfolio.
Uranium: Sierra Cuadrada, Argentina
The Sierra Cuadrada project is located in the San Jorge Basin and spans 1,300 sq km, 200 km north of Comodoro Rivadavia. The project is flat-lying, with visible uranium assays of >3,000 U3O8 or 6.6 lbs per tonne. The mineralization occurs at varying stratigraphic layers and remains open at depth. There is potential for numerous continuous zones up to 30 km wide and 40 km long. Mineralization is open along strike NW and SW and downdip. Further work will include delineating the deposit with shallow drilling and trenching that Pinche boasts can be done at very low cost.
Project Highlights:
- Location: San Jorge Basin, approximately 200 km north of Comodoro Rivadavia.
- Project Area: Spans 1,300 sq km of flat-lying terrain.
- Mineralization: Visible uranium assays exceeding 3,000 ppm U₃O₈ (6.6 lbs per tonne) have been observed. Mineralization occurs at various stratigraphic layers and remains open at depth, with potential for continuous zones up to 30 km wide and 40 km long.
- Historical Context: The Argentine National Atomic Energy Commission conducted extensive uranium exploration from the mid-1950s, identifying thousands of anomalies and developing eight mining operations. In the Chubut province, radiometric and EM surveys have highlighted two large Cretaceous paleochannels in the San Jorge Basin, extending over 200 km N-S and 30 to 60 km E-W. Notable high-grade deposits in the area include Cerro Condor and Los Adobes, both past-producing operations with grades of 6,000 ppm U₃O₈ and 1,400 ppm U₃O₈ found in outcrop, respectively.
- Recent Developments: Auger drilling in 2024 conducted at Sierra Cuadrada highlights extensive areas of near surface uranium mineralization. Assay results have been received for the shallow reconnaissance holes including 6 samples >1000ppm U₃O₈ (to maximum 2,650 ppm U₃O₈) and 2 samples >500ppm U₃O₈ (to maximum 900 ppm U₃O₈)
Gold: Cerro Chacon, Argentina
The Cerro Chacon gold project is located 10 km south of Paso de Indios, in the Chubut Province of Argentina. The land tenement spans 365 sq km of prospective precious metals occurrences. Structural mapping and geochemical sampling at the Chacon Grid identified mineralized systems consistent with surface signatures at the Cerro Negro Mine that boasts a contained metal inventory of 5.8 Moz of gold and 50 Moz of silver.
Project Highlights
- Location: Approximately 10 km south of Paso de Indios, Chubut Province.
- Project Area: Encompasses 365 sq km of prospective precious metals occurrences.
- Geological Potential: Structural mapping and geochemical sampling have identified mineralized systems consistent with surface signatures at the Cerro Negro Mine, which has a contained metal inventory of 5.8 Moz of gold and 50 Moz of silver.
- Recent Developments: Exploration activities at the Cerro Chacon gold project have delineated a substantial mineralized corridor extending over 10 kilometers. Surface sampling and geological mapping have identified multiple high-grade gold occurrences, with assays returning values up to 13 g/t gold. These findings underscore the project’s potential to host significant gold resources. Piche Resources is preparing for a comprehensive drilling program to further evaluate these targets and define the extent of the mineralization.
Management Team
John (Gus) Simpson – Executive Chairman
John Simpson has over 37 years of experience in mineral exploration, development, and mining. Previously the executive chairman and founder of Peninsula Energy Limited (ASX:PEN), a USA uranium producer.
Stephen Mann – Managing Director
Stephen Mann is a geologist with over 40 years of experience in exploration, discovery, and development of mining projects, including 20 years in the uranium sector. Formerly the Australian managing director of Orano, the world’s third-largest uranium producer.
Pablo Marcet –Executive Director
Pablo Marcet is a senior geoscientist with 38 years of experience in exploration, discovery, and development of mineral deposits. Currently an independent director of lithium producer Arcadium Lithium (NYSE:ALTM) and previously a director of Barrick Gold (NYSE:GOLD) and U3O8 (TSX:UWE).
Clark Beyer – Non-executive Director
Clark Beyer is an internationally recognized nuclear industry executive with over 35 years of experience. Formerly the managing director of Rio Tinto Uranium Limited and currently principal of Global Fuel Solutions LLC, providing strategic consulting to the international uranium and nuclear fuels market.
Stanley Macdonald – Non-executive Director
Stanley Macdonald is a nationally recognized mining entrepreneur, founding director, and instrumental in the success of numerous ASX-listed companies, such as Giralia Resources, Northern Star, and Redhill Iron. Currently a director of Zenith Minerals.
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11 July
Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.
In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.
The strong labour report came as a surprise to analysts who had been expecting employment rates to be flat month-over-month and the unemployment rate to increase to 7.1 percent. The June data signifies the first notable improvement in the job market since January and breaks a three-month rising trend in the unemployment rate.
Late on Thursday (June 10), US President Donald Trump threatened Canada with a 35 percent tariff on all exports starting on August 1. In his letter to Prime Minister Mark Carney, Trump said that Canada had imposed unfair trade practices, citing a 400 percent tariff on dairy products.
However, Canada has a trade deficit with the US when it comes to dairy. Imports in 2024 reached a record C$877 million, while exports of Canadian dairy totaled just C$358 million. Canada imposes a tariff rate quota, which limits the amount of duty-free dairy products that can enter Canada. Tariffs are only applied once the quota is exceeded.
Trump also pointed to continued flows of fentanyl into the US, saying, “If Canada works with me to stop the flow of fentanyl, we will, perhaps, consider an adjustment to this letter.”
The president has used fentanyl as a reason for imposing tariffs against Canada since the start of his term, although the Canadian government is already taking action to secure the border further and the flow of the drug through the northern border remains a fraction of what it is at the southern border.
So far in the 2025 fiscal year, which started in October 2024, there have been 58 pounds of fentanyl seized at the Canada-US border. While the quantity of drugs seized coming from Canada has increased from 43 pounds the prior year, the number of events recorded has fallen to 38 from 67 in fiscal year 2024.
In December 2024, Canada announced C$1.3 billion in additional funding for increased security at the border, which included new and expanded detection capacity for illegal drugs. Between February and March, the Canada Border Services Agency conducted a one month drug-seizure operation focused on air, land and sea shipments named Operation Blizzard.
In May, the agency reported it seized 1.73 kilograms of fentanyl during the operation, 1.44 kilograms of which were en route to the United States. Additionally, 67.5 percent of the 2,600 seizures related to any drug "were of illegal narcotics coming to Canada from the United States," with only 17.5 percent going in the other direction.
Trump also announced on Tuesday (July 8) a 50 percent tariff on copper imports into the United States. The levies were imposed under section 232 of the Trade Expansion Act, which is designed to give the president the power to levy tariffs on imports deemed to be critical to national security.
According to the United States Geological Survey, Canada is the second largest exporter of refined copper to the United States behind Chile and top exporter of copper ore to the country.
The effects of the tariffs may take some time to work into the market. Still, British Columbia and Ontario will feel the impact as the two largest copper-producing provinces.
The copper price skyrocketed on the news to a fresh all-time high of US$5.72 per pound on the COMEX.
Markets and commodities react
In Canada, equity markets were mixed this week. While the S&P/TSX Composite Index (INDEXTSI:OSPTX) fell 0.04 percent to close at 27,023.25 on Friday (July 11), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fared better, gaining 4.01 percent to 784.42, and the CSE Composite Index (CSE:CSECOMP) climbed 6.53 percent to 129.79.
US equity markets ended the week largely flat overall, with the S&P 500 (INDEXSP:INX) gaining just 0.21 percent to close Thursday at 6,259.74, the Nasdaq 100 (INDEXNASDAQ:NDX) climbing 0.13 percent to 22,780.60 and the Dow Jones Industrial Average (INDEXDJX:.DJI) falling 0.44 percent to 44,371.52.
In precious metals, the gold price rose 0.56 percent over the week to US$3,356.14 by Friday at 4 p.m. EDT. The silver price reached US$38.53, its highest price since 2011, near the end of trading Friday, before pulling back slightly to end the week up 3.38 percent at US$38.41.
In base metals, copper pulled back slightly from its fresh all-time high mentioned above, but still ended the week with a 10.24 percent gain to US$5.58. The S&P GSCI (INDEXSP:SPGSCI) lost 0.98 percent to close at 551.38.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Avanti Gold (CSE:AGC)
Weekly gain: 158.33 percent
Market cap: C$10.92 million
Share price: C$0.155
Avanti Gold is an exploration and development company working to advance its flagship Misisi gold project in the Democratic Republic of the Congo (DRC).
The project consists of three mining licenses covering an area of 133 square kilometres in the Kibara gold belt and is a 73.5/21.5 joint venture between Avanti and Chinese mining company MMG (HKEX:1208), with the DRC government retaining a 5 percent interest.
An August 2023 technical report demonstrated an inferred mineral resource estimate of 3.11 million ounces of contained gold from 40.8 million metric tons of ore with an average grade of 2.37 g/t.
Shares in Avanti rose this week after the company announced on Thursday that it settled the payment dispute between itself, Arc Minerals (LSE:ARCM) and Regency Mining, which Avanti acquired in December 2022.
Prior to its acquisition by Avanti, in April 2022 then-private company Regency agreed to purchase Arc subsidiary Casa Mining, owner of the 73.5 percent interest in the Misisi project. Under the terms of the original deal, Regency agreed to pay Arc in part with US$1.25 million in shares of a public company, which was never fulfilled.
The new settlement agreement will enable Avanti to reduce the amount it owes if it pays within certain timeframes: US$562,500 if it pays Arc by August 31, or US$625,000 by October 31 or US$750,000 by December 31. If the payment is not completed this year, the amount owed will revert to the original US$1.25 million and be due on January 1, 2026.
2. Silver Mountain Resources (TSXV:AGMR)
Weekly gain: 139.68 percent
Market cap: C$27.87 million
Share price: C$1.51
Silver Mountain Resources is an exploration and development company working to restart production at the Reliquias underground mine in Central Peru.
The mine is part of the larger Castrovirreyna project, which consists of three blocks of mineral concessions. The main Reliquias block consists of 245 concessions covering an area of 24,093 hectares. The site also hosts a 2,000 metric ton per day processing plant, with an operating tailings dam.
A May 2024 preliminary economic assessment demonstrated project viability with an after-tax net present value of C$85 million, an internal rate of return of 51 percent and a payback period of 1.8 years.
The included mineral resource estimate showed measured and indicated grades of 4.25 ounces per metric ton silver, 0.41 grams per metric ton (g/t) gold, 2.02 percent lead, 3.09 percent zinc and 0.32 percent copper from 1.31 million metric tons of ore.
Shares in Silver Mountain gained significantly this week after it announced on Tuesday (July 8) that it was finalizing an agreement with global commodities supplier Trafigura for a US$10 million prepayment facility to advance work at Reliquias.
The company said it would provide further details once definitive documentation is completed.
3. Altima Energy (TSXV:ARH)
Weekly gain: 100 percent
Market cap: C$23.99 million
Share price: C$0.49
Altima Energy is a light oil and natural gas exploration and development company with operations in Alberta, Canada.
Its primary asset is the Richdale property in Central Alberta. The property consists of five producing light oil wells and sits on 5,920 acres of long-term reserves. The property hosts combined proved and probable reserves of just under 2 billion barrels of oil equivalent, with a pre-tax net present value of C$25.8 million.
The company also owns two wells at its Twinning light oil site near Nisku, seven producing wells at its Red Earth property in Northern Alberta and two multi-zone wells at its Chambers Ferrier liquid gas production property.
Shares in Altima gained this week after it released news on Tuesday that it had completed a private placement for proceeds of up to C$5.5 million. Under the terms of the deal, the company will issue 20 million units at C$0.275 per unit, which each include one common share and one warrant allowing the holder to purchase a common share for C$0.40.
The company said that part of the proceeds would be used to complete field upgrades at its Red Earth and Richdale properties.
4. McFarlane Lake Mining (CSE:MLM)
Weekly gain: 83.33 percent
Market cap: C$14.88 million
Share price: C$0.055
McFarlane Lake Mining is a gold exploration company working to advance a portfolio of properties in Southern Ontario, Canada, with options agreements in place to earn 100 percent interests in the projects.
Its primary focus has been on its McMillan property southwest of Sudbury. The site consists of 12 mining leases over 268 hectares and hosted historic mining in the 1930s.
McFarlane Lake explored the property throughout the first half of 2025. On July 3, the company shared assay results from the final drill hole of its drill program at the project. The drill hole intersected a broad interval of 1.3 g/t gold over 29.5 meters, which included intersections of 6.6 g/t gold over 4.55 meters and 20.1 g/t over 1.45 meters.
In the same announcement, the company reported that a downhole electromagnetic survey of the drill hole located an electromagnetic "superconductor" nearby.
Shares in McFarlane were up this week after it was announced on Monday (July 7) that it would be acquiring the Juby Gold project from Aris Mining (TSX:ARIS) for a total consideration of US$22 million, including US$10 million in cash.
The transaction includes Aris’ 100 percent stake in Juby and its 25 percent stake in the adjacent Knight property, in which Orecap Invest holds the other 75 percent interest.
In a follow-up release on Tuesday, the company said the property is one of Ontario’s largest undeveloped gold properties and highlighted a historical indicated mineral resource of 775,000 ounces of gold from 21.31 million metric tons of ore with an average grade of 1.13 g/t gold, plus an inferred resource of 1.49 million ounces of contained gold from ore grading 0.98 g/t.
5. World Copper (TSXV:WCU)
Weekly gain: 75 percent
Market cap: C$14.63 million
Share price: C$0.07
World Copper is an exploration and development company focused on its Zonia copper project in Central Arizona, US. It also owns the Escalones copper project in Chile.
The Zonia property, acquired following a merger with Cardero Resources in January 2022, has seen extensive exploration dating back 100 years and hosted open-pit mining operations until 1975.
In November 2024, the company released an amended resource estimate for the project, showing a total indicated resource of 668 million pounds of contained copper from 112.2 million short tons of ore with an average grade of 0.297 percent, and an inferred resource of 320 million pounds from 62.9 million short tons of ore with an average grade of 0.255 percent.
On February 19, World Copper reported it had entered into a binding agreement to sell Zonia to an arm’s length third party for cash considerations of C$26 million. However, on May 6, World Copper announced that it terminated the agreement.
The company has not released news since. Shares gained this week against a backdrop of US copper tariffs and a surging copper price.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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11 July
Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results
Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.
This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.
In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.
The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.
Market and commodity price round-up
The S&P/ASX 200 index opened at 8,603.00 on Monday (July 7) and closed at 8,590.70 on Thursday (July 10), reflecting a 0.14 percent decline over the period.
As for precious metals, gold saw a slight dip in US dollar terms, going down 0.25 percent from US$3,337.32 on July 7 to US$3,328.89 by July 10 at 5 p.m. AEST. In Australian dollars, gold decreased 0.32 percent, moving from AU$5,093.25 to AU$5,076.81 over the same time period.
Silver also pulled back slightly during that time. After starting the week at US$36.94 in US dollars it closed at US$36.64,a 0.81 percent dip. In Australian dollars, silver went down 0.87 percent, going from AU$56.37 to AU$55.88.
Top ASX mining stocks this week
How did ASX mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Australian mining stocks below as we break down their operations and why these mining stocks are up this week.
Stock data for this article was retrieved at 4 p.m. AEST on July 10 using TradingView's stock screener. Only companies trading on the ASX with market capitalizations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Yandal Resources (ASX:YRL)
Weekly gain: 100 percent
Market cap: AU$28.14 million
Share price: AU$0.17
Yandal Resources is a gold exploration company focused on Western Australia. The company’s flagship Ironstone Well–Barwidgee project is located within the Yandal Belt and is currently under development.
On May 21, Yandal reported diamond drill results from the project’s Siona prospect, including 16.3 meters at 0.5 grams per tonne (g/t) gold and 29.1 meters at 0.4 g/t gold. According to the company, the results demonstrate "broad, low-grade mineralisation with internal higher-grade zones."
The company is also advancing its Arrakis prospect at its Caladan target area, with reverse-circulation drilling results released April 30.
Yandal released the first results of its air-core program at the Arrakis project on Thursday (July 10), which highlighted results of 11 meters at 2.1 g/t gold and 12 meters at 1.1 g/t gold. The company stated that it has now intercepted mineralisation at the prospect over more than 800 metres in strike.
Shares of the company rose on the day of the announcement, opening at AU$0.095 and closing at AU$0.17. On July 11, shares peaked at AU$0.18.
2. Lakes Blue Energy (ASX:LKO)
Weekly gain: 71.79 percent
Market cap: AU$60.09 million
Share price: AU$1.34
Lakes Blue Energy is an oil and gas explorer with assets across Victoria, Queensland, South Australia and Papua New Guinea. The company is currently focused on the Wombat Gas Field in Victoria’s Gippsland Basin.
According to the company's description of Wombat, the project holds a gas production potential of around 20 petajoules per year, which could support a region facing natural gas shortages.
On June 18, Lakes secured AU$6.5 million in funding to support the drilling of the Wombat-5 well.
The company recommenced trading on July 4 ahead of the drilling restart at Wombat. It had been suspended from quotation in October 2023.
Most recently, on Wednesday (July 9), Lakes secured final regulatory approvals for its drilling of the Wombat-5 well. The company plans to begin drilling the well on July 31.
3. Pantera Lithium (ASX:PFE)
Weekly gain: 66.67 percent
Market cap: AU$11.37 million
Share price: AU$0.02
Pantera Lithium is a lithium brine exploration and development company based in Perth, Western Australia. Its flagship asset is its Smackover lithium brine project in the Smackover formation of Arkansas, US.
The company made headlines on July 9 when it announced a binding agreement with Energy Exploration Technologies (EnergyX) to sell Pantera’s wholly owned subsidiary Daytona Lithium, which holds the Smackover project, for AU$40 million. The total amount will be paid via AU$6 million in cash and AU$34 million in EnergyX stock.
This means Pantera will gain exposure to EnergyX’s broader lithium portfolio, including the Black Giant project in Chile and Project Lonestar in Texas, and it will still have exposure to the Smackover project as well.
Subject to shareholder approval, the transaction is expected to close in the third quarter of 2025. Pantera said that it plans to pursue new opportunities in the battery and critical minerals space supported by the capital injection and strategic alignment with EnergyX.
Shares of Pantera surged 116.66 percent on the day of the announcement, closing at AU$0.026.
4. TMK Energy (ASX:TMK)
Weekly gain: 50 percent
Market cap: AU$25.56 million
Share price: AU$0.003
TMK Energy is a gas exploration company focused on accelerating the development of its Gurvantes XXXV coal seam gas project in Mongolia’s South Gobi desert. The project is 8,400 square kilometres in size and six active coal mines are within its boundaries.
On Tuesday (July 8), the company signed a new drilling contract with Major Drilling Group International (TSX:MDI), the company who drilled its six existing pilot wells in the Nariin Sukhait area.
The contract covers the drilling of Lucky Fox 07 (LF-07), the final pilot production well in the current Lucky Fox complex. The company expects LF-07 to enhance gas production and provide data on reservoir pressure behavior.
Drilling is scheduled to commence in the second half of July, following Mongolia’s Naadam festival.
TMK’s 2025 work program also includes up to five exploration wells in an area 60 kilometres east of the Nariin Sukhait area. These efforts aim to expand the company’s 2C contingent resources.
5. NuEnergy Gas (ASX:NGY)
Weekly gain: 40 percent
Market cap: AU$49.86 million
Share price: AU$0.028
NuEnergy Gas is an independent clean energy company advancing its three coal bed methane production sharing contracts (PSC) in South Sumatra, Indonesia. According to the company, it aims to integrate the three into a hub.
The company is currently executing its early gas sales initiative, which aims for an initial production of 1 million standard cubic feet per day from a series of four coal bed methane wells at its Tanjung Enim PSC. It reported the start of drilling for the first well on June 19 and its completion July 4.
In late June, the company announced it extended its Heads of Agreement with Indonesia’s national natural gas distributor for gas sales through June 26, 2026.
Its most recent news came on Tuesday, when NuEnergy announced that it had begun the drilling for its second of four wells for the early sales initiative at Tanjung Enim.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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10 July
Pilbara 2.0: Inside Australia’s Newest Gold Frontier
The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.
Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.
Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.
Pilbara 2.0: A new gold narrative
Historically, Pilbara’s “nuggety” terrain with patchy gold occurrences made consistent exploration success difficult. That perception changed dramatically with the discovery of the Hemi deposit by De Grey Mining in 2020.
Hemi is a 10.5 million ounce gold resource that marked the region’s first major intrusive-hosted gold system. Now owned by Northern Star Resources (ASX:NST), Hemi validated the thesis that the Pilbara hosts world-class, tier-one deposits with scalable, consistent mineralisation.
This discovery catalysed a new wave of investment and exploration focused on intrusive-style systems rather than alluvial or conglomerate gold. The success of Hemi has inspired exploration efforts across the Mallina Gold Corridor — a structural trend now being recognised as one of Australia’s most prospective gold belts.
Hemi’s success is not an isolated case. Other companies have contributed to the growing confidence in the Pilbara gold province: Kairos Minerals (ASX:KAI) controls the 1.4 million ounce Mount York gold project, one of the largest undeveloped free-milling gold resources in the region; Novo Resources (TSXV:NVO,OTCQB:NSRPF) helped ignite international interest in Pilbara through its early focus on conglomerate gold; and Greatland Resources (ASX:GGP,LSE:GGP), though better known for its Havieron discovery in a broader Western Australian context, helped shift sentiment toward underexplored Western Australian provinces.
These developments have collectively set the stage for the next phase of discovery-led value creation.
Investment case: New Age Exploration
New Age Exploration’s (ASX:NAE) Wagyu gold project sits in a sweet spot, strategically located between Northern Star’s Hemi and Withnell deposits along the Mallina Gold Corridor. This positioning is not coincidental; the project lies on the same structural corridor as Hemi, raising the potential for geological continuity.
Recent reverse-circulation drilling results at Wagyu provide compelling early evidence: 8 metres at 5 grams per tonne (g/t) gold, including 1 metre at 28.6 g/t gold from shallow depths; 4 metres at 2.5 g/t gold from 76 metres; and broad mineralised envelopes confirmed across multiple targets, including a 1 kilometre gold zone between Target 1 and Target 10.
These high-grade hits, combined with the project's proximity to a world-class discovery, draw clear geological parallels to Hemi’s early stage exploration history.
Still in its early stages, Wagyu offers exposure to large-scale upside with relatively low capital intensity. The company has successfully applied geophysical surveys to identify high-priority targets. A March/April 2025 reverse-circulation program confirmed gold mineralisation at four of five targets, intersecting both oxide and fresh-rock systems.
Moreover, the use of arsenic as a pathfinder element, mirroring the strategy that aided Hemi’s discovery, has opened new corridors for exploration. New Age Exploration's application of this vectoring technique underscores its methodical, data-driven approach.
With mineralisation open along strike and at depth, New Age Exploration is advancing toward its next drill campaign, signaling a transition from early stage prospecting to systematic resource definition — an inflection point that can unlock significant valuation re-rates.
Investor takeaway
With the Central Pilbara now validated as a fertile gold district, the stage is set for a new wave of discoveries.
De Grey and Kairos have already delivered transformational results. New Age Exploration, with its strategic land position, geological continuity with Hemi and early high-grade results, stands out as a potential next-mover in this unfolding gold boom.
Investors seeking exposure to high-upside discovery plays in a proven region would do well to watch promising exploration developments at Pilbara.
This INNSpired article is sponsored by New Age Exploration (ASX:NAE). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by New Age Exploration in order to help investors learn more about the company. New Age Exploration is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with New Age Exploration and seek advice from a qualified investment advisor.
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