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April 29, 2025
Challenger Gold Limited (ASX: CEL) (“CEL” the “Company”) notes the ASX Release by Austral Gold Limited titled "Austral Gold Provides Update on Casposo Plant Refurbishment" today. The release provides an update on the refurbishment of the Casposo Processing Plant and reports that the refurbishment is on track for the start up of commercial operations in the second half of 2025.
HIGHLIGHTS
- Austral Gold announced that Casposo Plant refurbishment is advancing safely and efficiently across all core workstreams.
- Austral update aligns with second independent plant inspection commissioned by CEL.
- CEL's inspection was undertaken by the same process engineers that completed the Audit of the Casposo Plant and Restart Plan in December 2024.
- Key takeaways from the second inspection report commissioned by CEL are:
- Robust advancement across all key processing areas
- Progress in line with existing refurbishment schedule
- Solid-liquid separation capacity (previously identified as a key risk) appears adequate for the required 1000 TPD capacity
- Sufficient time remaining to complete all maintenance work to meet the commissioning target in Toll Milling Agreement during the second half of 2025.
The Austral update aligns with a second independent plant independent inspection report received by the Company during April 2025. This report was prepared by the leading process group that completed the independent Audit of the Casposo Plant in December 2024 (ASX Release dated 13 December 2024).
Background to Toll Milling
The Company has executed a binding Agreement with Casposo Argentina Mining Limited, the operator of the Casposo Plant located in San Juan Argentina. This Toll Milling Agreement secures processing of a minimum of 450,000t of near surface Hualilan mineralised material over 3 years (ASX Release dated 30 December 2024).
The Casposo Plant, located 170km from Hualilan via established roads, has historically produced over 323,000 ounces of gold and 13.2 million ounces of silver. During operations, the plant achieved average annual production of 40,000 ounces of gold and 1.6 million ounces of silver at recoveries of 90% for gold and 79% for silver. The plant has been on care and maintenance.
The primary objective of this Toll Milling strategy is to capitalise on the current high gold price (above US$3,300/oz) to generate early cash flow. This cashflow will be allocated towards the construction of the standalone Hualilan Gold project including a Flotation with Tails Leach (“FTL”) circuit, a potential Heap Leach (“HL”) pad at Hualilan, and open pit mining fleet.
Click here for the full ASX Release
This article includes content from Challenger Gold, 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.
CEL:AU
5m
Australian Critical Minerals to acquire significant gold and copper portfolio in mineral rich Peru
Transformational acquisition in Tier 1 region for gold and copper production with potential for significant exploration upside
Australian Critical Minerals (ASX: ACM, “Australian Critical Minerals” or “the Company”) is pleased to announce it has entered into a binding Share Purchase Agreement (SPA) to acquire 100% of the issued capital of Circuit Resources Pty Ltd (Circuit). Circuit owns Au Investments SAC, Pegoco SAC and Latin Gold SAC and holds an option to acquire Nueva Energia Metales SAC. The Circuitentities own or have options to acquire 100% interest in all the concessions associated with the Blanca, Riqueza, Flint, Cerro Rayas, Liro and Kamika projects. The projects are highly prospective with a focus on gold. copper, silver, lead and zinc.
Highlights
- ACM has entered into a binding Share Purchase Agreement to acquire 100% of the issued capital of Circuit Resources Pty Ltd which owns several potentially transformational gold and copper projects in highly prospective locations in Peru.
- Targeting gold and copper, with high grade silver and base metals a secondary focus.
- Blanca Gold Project is a low-sulphidation epithermal quartz vein with substantial previous drilling and trenching identifying high grade gold.
- Drill results include:
- Bonanza drill grades to 52.8g/t Au over 1.5 metres within 9.5m @ 11.27 g/t Au
- 4m @ 3.97 g/t Au, including 1.75m @ 7.5 g/t Au
- 1.5m @ 22.68 g/t Au within 5m @ 7.04 g/t Au
- 1.2m @ 8.13 g/t Au within 7.37m @ 2.44 g/t Au
- 6m @ 2.31 g/t Au (refer to Figure 4 and Appendices 3 and 4 for full results of the drill and trench sampling program). (1,2,3)
- Only partially drilled - 2km of the 3km strike remains to be drilled
- Drill results include:
- The Riqueza Copper-Silver Project is a district-scale, intermediate-sulphidation vein system extending over a 10 km strike length, which has undergone substantial exploration by previous operators.
- Copper grades from 1% to 8.7% and silver assays to 2,238 g/t in historic surface rock chip samples
- The Flint Gold Project hosts a 6 sq km high-sulphidation system with strong geophysics and geochemistry,
- directly bordering Peñoles’ San Juan copper deposit—highlighting shallow gold potential.
- Cerro Rayas hosts eight high-grade zinc-lead-silver workings along 8 km, with rock chips grading over 40% Pb+Zn—showcasing standout exploration potential (refer to Figure 15 and Appendix 6 for further details).
- Completion of oversubscribed $1m placement to support exploration across new and existing projects.
Australian Critical Minerals Managing Director, Dean de Largie commented, “The acquisition of Circuit Resources is a significant opportunity for ACM, delivering a pipeline of high-impact exploration projects across gold, copper, silver, zinc, and lithium in Peru. The scale and quality of these assets—spanning over 25,000 hectares— give us immediate drill-ready targets and exceptional scope for new discoveries.
Projects like Riqueza, with high-grade copper-silver veins over several kilometres and proximity to majors like Anglo American, offer Tier-1 potential. Blanca has already demonstrated strong gold mineralisation, while Cerro Rayas and the Salar projects provide exposure to critical metals with potentially strong demand tailwinds.
This acquisition significantly strengthens our portfolio, and we’re excited to begin unlocking value with aggressive exploration in the near term.”
Figure 1 – Location of Circuit Resources Projects
Circuit Resources Project Overview
Circuit Resources owns or has the right to acquire 100% of six projects comprising 37 mining concessions covering 25,600 Ha in Peru. Refer to Appendix 5 for a summary of the mining concessions to be obtained through the acquisition of Circuit.
Click here for the full ASX Release
This article includes content from Australian Critical Minerals, 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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47m
EVR completes acquisition of the Los Lirios Antimony Mine (EVR: 70%), Mexico
EV Resources Limited (ASX:EVR) (“EVR” or “the Company”) has completed its binding agreement to acquire 70% of an operating Joint Venture over the Los Lirios Antimony Mine (El Lirio de los Valles mining concessions) in the state of Oaxaca, Mexico by establishing a wholly owned Mexican subsidiary, Stibcorp, S.A. de C.V., and executing a binding Promissory Agreement for the Assignment of Mining Rights with the current titleholders.
- EVR completes conditions precedent to acquire 70% of the Los Lirios Antimony Mine (“Los Lirios”) in Oaxaca State, Mexico.
- Joint Venture Company established and licence assignment in process.
- Three licences cover 1,552 hectares and include 3 historic open pit and several underground workings.
- Past production at Los Lirios included commercial grade Direct Shipping Ore (DSO).
This completes the conditions precedent set out in the Company’s announcement of 28 January 2025.1
This transaction represents a key step in EVR’s strategy to secure early-stage access to antimony supply in the Americas, supporting the Company’s growing portfolio of critical mineral assets aligned with U.S. and allied strategic interests.
Joint Venture
The joint venture relates to the acquisition of three mining concessions (El Lirio De Los Valles 3 Fraccion 1 and Fraccion 2 form one concession), which have been confirmed as collectively covering approximately 1,551.94 hectares and are considered highly prospective for antimony, a mineral designated as critical under multiple strategic mineral frameworks.
The concessions include three open pit and several underground mine workings dating back several generations. Mining appears to have always focused exclusively on grades sufficient for sale as DSO as no processing facilities were established in the area.
Ownership Structure
Stibcorp and the joint venture parties have established a new legal joint-venture entity, named Exploraciones Mineras los Lirios, S.A. de C.V. (“EML”), which will ultimately hold 100% of the mining rights. The ownership of this company will be 70% EVR (through Stibcorp), and 30% the original owners. Stibcorp’s responsibility under the agreement is to provide the management and capital until a maximum of 300 tonnes of ore per day is produced. In addition, Stibcorp will pay licence fees owing and hold a power of attorney over the licences.
Next Steps
Stibcorp also intends to advance the project in a manner consistent with regional development priorities and local community engagement.
In addition, EVR is in discussion with owners of permitted plant sites with a view to building a pilot processing plant using predominantly gravity recovery methods which have proved successful in processing antimony materials in Mexico.
Several 30 kilogramme samples were taken at Los Lirios several weeks ago, and are undergoing ore characterisation and mineralogy analysis. The results are expected imminently, and the samples will then be used for recovery test work which is expected to focus predominantly on gravity recovery techniques.
Click here for the full ASX Release
This article includes content from Ev Resources Limited, 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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06 June
Ford Government Pushes Bill 5 Through Legislature, Sparking First Nations Outcry
In a move that has ignited a storm of opposition from Indigenous communities and environmental groups, Ontario’s Progressive Conservative government passed Bill 5 on Wednesday (June 4).
Formally titled the Protecting Ontario by Unleashing our Economy Act, the legislation grants the province unprecedented authority to override provincial and municipal laws in favor of economic development.
Specifically, Bill 5 allows the government to establish "special economic zones" where environmental protections, labor regulations and other statutes can be suspended for projects led by "trusted proponents."
Premier Doug Ford's government argues that the bill is critical for expediting development in the mineral-rich Ring of Fire region and countering global economic threats, including US tariffs.
But the bill’s passage, by a vote of 71 to 44, has drawn fierce backlash from First Nations leaders who say they were not consulted, in violation of treaty rights enshrined in the Canadian constitution.
Speaking to reporters, Grand Chief Alvin Fiddler of the Nishnawbe Aski Nation, which represents 49 First Nations in Northern Ontario, warned that protests and blockades — reminiscent of the Idle No More movement — are likely.
"I think after today we need to look at every option that is at our disposal, including legal, political, economic, everything – including taking direct action," he said, adding, "Everything is on the table."
Ford was not present in the legislature for the vote, drawing condemnation from Indigenous leaders and opposition politicians. He reportedly missed the vote due to an overrun in an online meeting with a US congressman.
Ontario NDP Leader Marit Stiles stood alongside First Nations representatives to denounce the premier’s absence and vowed to continue resisting the legislation, which she predicted will end up in court.
Public gallery benches erupted during the vote with shouts of "Shame on you!" and "Where's the premier?" Security escorted several individuals out, including one man who yelled, "Our land is not for sale!"
Opposition parties attempted to stall the bill with thousands of proposed amendments, but the Progressive Conservative majority pushed it through after using time allocation to cut short debate.
Legal experts warn that Bill 5 could significantly alter the legal and environmental landscape in Ontario. The legislation includes Henry VIII-style provisions — named after the 16th-century monarch notorious for consolidating executive power — which allow the provincial cabinet to override laws without legislative scrutiny.
Laura Bowman, a lawyer with Ecojustice, said, "This is not just undemocratic; it’s anti-democratic."
Environmental advocates have also raised alarm about Bill 5’s implications for conservation. It rewrites Ontario's endangered species law by giving the cabinet, not scientists, final authority on which species merit protection.
Additionally, it eases rules on preserving Indigenous archaeological sites.
The government has floated the possibility of Indigenous-led economic zones as part of the regulations it must still draft, but details remain scarce, and First Nations groups say the damage has already been done.
Ontario Regional Chief Abram Benedict, who previously met with Ford in a tense private session, said the discussions were necessary, but insufficient. “Our Chiefs have made it clear that they fully reject Bill 5, and the Chiefs of Ontario stand by and defend the position of the Chiefs,” Benedict maintained in a statement. “First Nations rights holders must be at the table, and the Government must fulfill its constitutional and treaty obligations.”
The Ring of Fire region, located in the James Bay lowlands, is at the center of the controversy.
While some First Nations near the area support road construction projects, others oppose the rush to mine in the region without thorough consultation and environmental safeguards. The Ford government has touted the area's reserves of critical minerals — such as nickel and lithium — as essential for Ontario's economic future.
While some industry stakeholders have cautiously welcomed provisions in Bill 5 that streamline mining approvals under a “one project, one process” regime, critics and civil liberties advocates say its rhetoric risks escalating tensions.
Among them is the Canadian Civil Liberties Association, which has condemned Bill 5 as a dangerous overreach that could hollow out legal safeguards without meaningful public oversight.
Legal scholars say the government’s interpretation of its duty to consult remains contested. While a 2018 Supreme Court ruling (Mikisew Cree) found that governments are not constitutionally required to consult Indigenous groups during the drafting of legislation, it emphasizes that such consultation is often politically and morally necessary.
Moreover, many Indigenous leaders say consultation is no longer enough. Invoking the United Nations Declaration on the Rights of Indigenous Peoples, they are calling for "free, prior and informed consent" as the new standard.
In the coming weeks, the Ford government must draft the regulations that will define how Bill 5 is implemented. These rules, it insists, will be subject to consultation. But with Indigenous leaders threatening direct action and legal battles on the horizon, Ontario may be on the brink of a new phase in its fraught relationship with First Nations.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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30 May
Appeals Court Grants Trump Temporary Reprieve on Tariffs, "TACO" Taunts Gain Steam
US President Donald Trump scored a temporary reprieve in his ongoing trade war efforts after a federal appeals court stayed a lower court’s decision that struck down most of his global tariffs.
The Thursday (May 29) decision allows the administration’s controversial import duties to remain in place for now.
The decision by the US Court of Appeals for the Federal Circuit provides breathing room for Trump and his trade team as they prepare a full appeal, following a blistering Wednesday (May 28) night ruling by the US Court of International Trade that invalidated nearly all of the Trump-imposed tariffs not tied to national security.
The trade court found Trump overstepped under the 1977 International Emergency Economic Powers Act, saying it “does not confer such unbounded authority” to enact sweeping economic penalties without congressional oversight.
The decision jeopardized key components of Trump’s aggressive tariff program — including a blanket 10 percent import tax and recent “reciprocal tariffs” targeting countries like China, Canada, Mexico and members of the European Union.
But for now, the tariffs will remain in effect. The appellate court granted the Trump administration’s request to pause enforcement of the trade court’s order “until further notice while this court considers the motions papers.”
The next hearing is set for June 5.
White House reacts swiftly, blasts judicial overreach
Trump administration officials reacted with fury to the trade court’s initial decision, describing it as an affront to executive authority in foreign policy and economic matters.
“The political branches, not courts, make foreign policy and chart economic policy,” the White House said in its appeal filing. White House Press Secretary Karoline Leavitt expressed similar concerns on Thursday, saying:
“America cannot function if President Trump, or any other president for that matter, has their sensitive diplomatic or trade negotiations railroaded by activist judges.”
Trump himself took to social media on Thursday morning to vent, writing: “Hopefully, the Supreme Court will reverse this horrible, Country threatening decision, QUICKLY and DECISIVELY.”
He later added: “This would completely destroy Presidential Power — The Presidency would never be the same!”
Peter Navarro, Trump’s top trade advisor, also signaled that the administration was already exploring alternatives, stating that even if it lost the battle in the Supreme Court, it “will do it another way.”
The Wednesday judgment had required the White House to make changes within 10 days.
The administration responded by notifying both the trade court and the appellate court of its intent to challenge the ruling all the way to the Supreme Court, if necessary.
“TACO trade” meme gains steam as Trump backpedals
Adding to the storm surrounding the tariffs is growing traction of the term “TACO trade” — a satirical acronym coined by Financial Times columnist Robert Armstrong that stands for “Trump Always Chickens Out.”
The phrase has caught fire on Wall Street and social media, referring to Trump’s habit of threatening steep tariffs, only to roll them back amid market backlash or diplomatic pressure.
The phenomenon was on full display last month, when Trump announced what he called “Liberation Day,” unveiling sweeping tariffs as high as 145 percent on imports from nearly every major trading partner.
Within a week, those tariffs were scaled down to a baseline 10 percent. Duties on Chinese goods were first reduced to 30 percent and then to 10 percent, while deadlines for tariffs on European goods were postponed.
On Wednesday, visibly irritated by the nickname, Trump lashed out at a reporter who asked about the “TACO trade” label. “Oh, I chicken out. Isn’t that nice? I’ve never heard that,” Trump said, bristling at the question.
“You call that chickening out? It’s called negotiation,” he added.
“Six months ago, this country was stone cold dead. We had a dead country. We had a country that people didn’t think was going to survive. And you ask a nasty question like that," Trump continued.
Despite his protests, “TACO trade” has become a viral symbol of his erratic approach to global commerce. California Governor Gavin Newsom mocked the administration after the trade court ruling, saying, “It’s raining tacos today.”
So far, the administration’s tariffs on steel, aluminum and cars remain untouched by the ruling.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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29 May
Two Lithium Zones Confirmed in Latest Drill- Hole at Red Mountain Project, USA
Result supports Exploration Target, successfully intersecting lithium under cover
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report assay results from the second hole of its April 2025 diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA.
Key Highlights
- Diamond drill-hole RMDD005 intersected two zones of lithium mineralisation under alluvial gravel, returning:
- 9.1m @ 1,350ppm Li from 57.9m, within a broader low- grade zone of 80.8m @ 860ppm Li from 12.2m;
- 8.3m @ 1,210ppm Li from 240.8m to end-of-hole, within a broader zone of 15.9m @ 955ppm Li from 233.2m to end-of-hole
- RMDD005 is the first drill-hole at Red Mountain to successfully intersect ‘blind’ mineralisation.
- Hole ended in lithium mineralisation, with the mineralised zone remaining open down-dip to the east and along strike.
- Assays pending from four other recently completed drill- holes.
Drill-hole RMDD005 returned two intersections of lithium mineralisation:
- 80.8m @ 860ppm Li / 0.46% Lithium Carbonate Equivalent1 (LCE) from 12.2m, including an internal high-grade zone of 9.1m @ 1,349ppm Li / 0.72% LCE from 57.9m;
- 15.9m @ 955ppm Li / 0.51% LCE from 233.2m to end-of-hole, including an internal high- grade zone of 8.3m @ 1,209ppm Li / 0.64% LCE from 240.8m to end-of-hole.
Drill-hole RMDD005 is the first hole at Red Mountain to test for mineralisation interpreted as part of the recently announced Exploration Target (ASX release 12 February 2025) under significant alluvial cover (Figures 2 and 3). The hole was designed to test the lower extent of mineralisation in the eastern zone of Target Area A, before passing through a zone of unmineralised rocks, and then testing a second, western zone of interpreted mineralisation (see Figure 2). The hole successfully intersected both interpreted zones of mineralisation, separated by a weakly mineralised sequence of mostly conglomerate and breccias.
This result reinforces the Company’s understanding of lithium mineralisation at Red Mountain, providing further confidence in the geological model as work programs continue to progress. The more moderate grades intersected in RMDD005, which was located centrally within the project area, also lend support to the Company’s emerging interpretation that the northern part of the Red Mountain Project is likely to host a high-grade zone of lithium mineralisation.
Assays are pending for a further four holes drilled as part of the April diamond drilling campaign, which are expected to be received by the end of the financial year.
Astute Chairman, Tony Leibowitz, said:
“The results from this latest hole at Red Mountain are very encouraging, intersecting lithium mineralisation under cover exactly where the technical team expected it to be. This provides increased confidence in the geological model that underpins the Red Mountain Exploration Target as we rapidly advance towards the planned delivery of a maiden JORC Mineral Resource Estimate later this year.
“Our exploration at Red Mountain to date indicates significant scale potential, with lithium mineralisation confirmed over a strike length of almost 6 kilometres. This latest drilling is continuing to firm-up these results and reduce risk, successfully intersecting lithium between holes to delineate an increasingly robust and coherent body of mineralisation.”
Click here for the full ASX Release
This article includes content from Astute Metals NL, 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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28 May
Phase 1 Drill Program – Operational and Geological Progress Update
McLaren Minerals Limited (ASX: MML) ("McLaren" or "Company"), is pleased to provide a further update on the phase 1 Drill Program at its wholly owned McLaren Titanium Project in the western Eucla Basin, Western Australia. This update is driven by the completion of geological interpretation of all the drilling during this campaign, in the absence of laboratory results.
Highlights
McLaren Titanium Project
- 192 drill holes completed for a total of 4,067 metres, on time and without incident
- Significant extensions of prospective sediments outside of currently known resource boundaries observed during drilling:
- North extension: approximately 2,200m wide, avg. 14m thick (max 23m),
- Central zone eastern extension: 800m wide, avg. 20m thick (max 23m),
- Southern zone: 2,600m wide, avg. 10m thick (max 15m).
- Potential impact on the Mineral Resource Estimate will be evaluated as part of the PFS Resource update
- Metallurgical and geological samples submitted to IHC and Diamantina Laboratories
- Geological work has improved confidence in deposit morphology and is expected to reduce future drilling costs
- Strong community support confirmed within an established mining region
McLaren Mineral Sands Managing Director, Simon Finnis, commented:
“While we have not yet received any assays, phase 1 has delivered strong confidence to our team regarding this project. The most recent interpretation not only confirm the integrity of our geological model, but importantly, demonstrates the scale of the opportunity ahead. Defining substantial potential for mineralisation outside the current Resource boundary positions us well for future resource growth. We’ve also made solid ground operationally—drilling was completed on time, we’ve brought costs down, and we’re seeing strong local support. Taken together, these outcomes give us a great deal of confidence as we move toward the next phase of work and continue building long-term value for shareholders.”
Click here for the full ASX Release
This article includes content from McLaren Minerals Limited, 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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