
October 06, 2024
Manuka Resources Limited (“Manuka” or the “Company”) welcomes the inclusion its 100 percent owned subsidiary Trans-Tasman Resources Limited's ("TTR") Taranaki VTM iron sands project off the coast of Taranaki in the government's Schedule 2 of the Fast Track list as released on Sunday 6 October 2024.
The project was assessed by the independent Projects Advisory Group and the responsible Ministers who consider project meets the Bill's purpose to facilitate the delivery of infrastructure and development projects with significant regional and national benefit.
The Fast Track Approvals Bill is now due for reporting back from the Select Committee on 18 October 2024 and expected to be enacted before the end of the year.
The Taranaki VTM project has the potential to significantly increase New Zealand's export earnings and produce the critical minerals required for the transition to a zero-emissions energy system.
"This is a welcome development and we recognise that this is the first step in the government's approvals process, including finalising the Fast Track enabling legislation. Once enacted we will have to then make an application to the Environmental Protection Authority to be assessed under the Bill. Our project offers huge economic development opportunities for New Zealand including hundreds of jobs in the Taranaki region." Manuka Executive Director and TTR Executive Chairman Alan Eggers says.
"It is of national significance as we have identified a world-class vanadium rich iron sands resource that has the ability to contribute $1 billion annually to export earnings, doubling the entire mining sector's current contribution to New Zealand's economy."
Mr Eggers says the Taranaki VTM project proposes to harvest iron sands in the South Taranaki Bight containing iron ore and critical minerals vanadium and titanium that are in high demand globally as countries, including New Zealand, transition from fossil fuels to renewable energy and electrification of their economies.
Furthermore, he notes the benefits to the Taranaki region include 300 Taranaki-based jobs and an additional 170 jobs in the wider region, locally a $250 million annual spend on operations and staff, new infrastructure at Port Taranaki and Whanganui Port, and the establishment of a training institute and logistics hub in Hawera with head office in New Plymouth.
Mr Eggers continues that the company's environmental obligations are incredibly important, and states "we don't for a minute believe that the Fast Track process is a way to minimise or short cut these. We have already agreed to more than 100 operating conditions and a full set of management plans with the Environmental Protection Authority to recover the resource after completing New Zealand's most comprehensive mine development environmental application ever. The project will continuously restore the seabed to its natural state within two years as we progress and, despite what our opponents say, it will have minimal impact on the South Taranaki Bight marine and coastal environment.
The project provides an opportunity for New Zealand to become a world-leader in marine mineral harvesting technologies and, in a time of geopolitical uncertainty, to potentially be the largest producer of vanadium in the western world."
About Manuka Resources Limited
Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company with key gold and silver assets located in the Cobar Basin (NSW), and offshore vanadium and titanium bearing iron sands in the South Taranaki Bight of New Zealand.
The Taranaki VTM Project (South Taranaki Bight, New Zealand) Manuka is the 100% owner of the Taranaki VTM (vanadium titanomagnetite) Iron Sands Project. The Taranaki VTM Project resource was released on ASX on 1 March 2023.
The Project is located 22 km to 36 km offshore in New Zealand's EEZ, or Exclusive Economic Zone, outside the 12 nautical limit from the shoreline, in waters ranging between 20 to 50 metres depth and has a granted mining permit, MP55581, permitting production of 5Mtpa. On granting of final government approvals to operate the Company will complete its Bankable Feasibility Study on the Project. The Project is anticipated to sit in the lowest quartile of the iron ore production cost curve.
Location of Taranaki VTM Project.
Click here for the full ASX Release
This article includes content from Manuka 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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26 March
Manuka Resources
Investor Insight
Manuka Resources’ unique value proposition is focused on its three fully licenced projects, which include two precious metals assets in one of Australia’s most prolific regions for base and precious metals, and a company-making iron sands (vanadium and titanium co-products) project in New Zealand’s exclusive economic zone (EEZ) off the Taranaki bight. Manuka Resources is well-placed to deliver significant shareholder value, driven by a phased strategy that includes a clear pathway to near-term precious metals production.
Strategy Overview
Manuka Resources (ASX:MKR) is focused on bringing its precious metals assets in the Cobar Basin into production, as well as progressing its New Zealand domiciled Taranaki VTM iron sands project.
The company previously revealed a phased strategy focused on delivering maximum value to its shareholders. The first phase focused on bringing back the Mt Boppy gold mine into production and it released an optimised production plan for the mine restart. At the time, the company believed silver production would follow gold but noted it was flexible in this regard. In any event and simultaneous to this, will be the ongoing development of the Taranaki vanadium titano-magnetite (VTM) project.
The Cobar Basin located in the central-west of New South Wales, is one of the richest mining provinces in Australia, home to some of Australia’s largest mining companies and explorers.
The Mt Boppy gold mine was historically one of the richest in NSW, Australia and produced ~500,000 oz gold at an average grade of 15 grams per ton (g/t) gold. Accordingly, the company is very excited about its exploration potential.
Drone image looking South showing the main components of the Rock Dump and tailing resources in relation to the Mt. Boppy open pit.
The initial five-year mine plan is largely focused on the screening and processing of gold-bearing waste material above ground on the Mt Boppy mine site. The company had been processing these wastes from June 2023 to December 2023 at its Wonawinta plant and now will look to optimize the process.
The Wonawinta silver project will be the largest primary silver producer in Australia and expected to be back in silver production within 12 months. Manuka has released a maiden ore reserve (under its ownership) of 4.8Mt1 at 53.8g/t silver containing 8.4Moz of silver comprising proven ore reserves of 0.8Mt at 50.8g/t silver; and probable ore reserves of 4.1Mt at 54.3g/t silver. Ore Reserve is based solely on shallow (<40m deep) oxide material.
The Wonawinta 100tph Ball Mill
The gold and silver market appears to be in an upward trend, with prices for both precious metals hitting their all-time highs recently, in Australian dollar terms for silver, which bodes very positively for MKR.
Company Highlights
- Manuka Resources is an ASX-listed mining company focused on producing gold and silver from its two 100 percent owned fully permitted projects (one gold and one silver) in the Cobar Basin in New South Wales, Australia.
- In addition, MKR’s wholly owned subsidiary Trans-Tasman Resources Limited (“TTR”) is the owner of the Taranaki VTM (vanadiferous titanomagnetite) iron sands project, located in the New Zealand EEZ, off the south-west coast of the north island.
- Manuka released the details of the Taranaki VTM project’s pre-feasibility study (PFS) on 26 March 2025, which highlights the extremely robust economics of the project with an NPV10 of US$1.2B and IRR 39 percent
- TTR will also be lodging its application under New Zealand’s Fast Track Approvals Act for the Taranaki VTM project imminently. (The project was included in Schedule 2 of the Act). Successful conclusion of review under the Fast Track pathway will result in final regulatory approvals (marine discharge consent) being granted, completing the full suite of consents to operate the project for 20 years.
- The Company’s primary focus for its precious metals assets is on bringing both the fully permitted Wonawinta silver project and the Mt Boppy gold mine back into production during 2025. The Wonawinta processing plant (primarily constructed for silver production in 2012 with production capacity of 850,000-1 million tpa) has been recently used for both gold and silver processing and is on active care and maintenance for rapid restart..
- The Wonawinta silver project was previously the largest primary producer of silver in Australia, and Manuka expects this to again be the case once production restarts.
- While the substantially higher gold prices have been securing headlines over the past six months, it is worth noting that the silver price is also trading at an all time high which makes restarting the project very attractive (the all time high for silver is against the Australian dollar, currently silver is around AU$54/oz silver).
- Manuka released its maiden silver reserve in October 2024 making it the only production ready silver reserve on a project based in Australia.
- Elevated gold and silver prices should materially benefit Manuka Resources, resulting in strong profitability and cash flows once its projects move into production.
Key Projects
Mt Boppy Gold Project
The Mt Boppy gold project comprises three mining leases, four gold leases and one exploration license, spanning an area of more than 210 sq km in the prolific Cobar Basin in New South Wales, Australia. The project was acquired by Manuka in 2019 and has a current mineral resource of 4.3 Mt at 1.19 g/t gold. This includes a combination of oxidized and transitional/fresh mineralization in the ground, as well as mineralized rock dumps and tailings.
Historically, Manuka Resources has processed its stockpiles and gold mineralized waste products through its Wonawinta processing plant. However, inefficiencies associated with trucking and processing ore at the distant Wonawinta plant has led the company to revise its strategy. It is now looking to construct a processing plant at Mt Boppy so that ore from the mine can be processed on-site. Mt Boppy has excellent infrastructure including a 48-person mine camp and is fully permitted for the proposed processing plant and on-site production.
The updated mineral resource comprises 4.28 Mt at 1.19 g/t gold for 163 koz of contained gold, of which 82 percent is in the measured and indicated categories.
An on-site plant will offer significant cost savings and improve the project economics.
Manuka Resources anticipates Mt Boppy to deliver total EBITDA of >AU$90 million and cash flow of >AU$80 million over a five-year mine life.
Wonawinta Silver Mine Project
The Wonawinta plant
The Wonawinta project is fully permitted with all the necessary infrastructure, including an 850,000 to 1 million tpa processing plant. The plant has been used for processing ore from Mt Boppy. The Wonawinta silver mine is currently under care and maintenance. The company is considering the possibility of resuming operations at Wonawinta, leveraging the improved silver price environment. Manuka has released a maiden ore reserve (under its ownership):
- Ore Reserve of 4.8 Mt at 53.8 g/t silver containing 8.4 Moz of silver comprising:
- Proved Ore Reserves of 0.8 Mt at 50.8 g/t silver; and
- Probable Ore Reserves of 4.1 Mt at 54.3 g/t Ag.
The maiden silver ore reserve and the preparation of an implementation plan for Wonawinta support the potential restart of silver mining and processing operations in the near
future. The company is reviewing its silver restart plans in light of the current price increases and expects to announce a decision before the end of May 2025.
Taranaki VTM Project
The Taranaki VTM project is located within New Zealand's exclusive economic zone, approximately 22 to 36 kilometres offshore, outside the 12 nautical mile boundary from the coastline. The project boasts a JORC resource of 3.2 billion tons at 10.17 percent iron oxide, 1.03 percent titanium dioxide and 0.05 percent vanadium oxide. It holds a mining license allowing initial extraction of 50 million tons annually, resulting in 5 million tons of VTM concentrate per year for 20 years (concentrate grade of 56 to 57 percent iron, 8.5 percent titanium dioxide and 0.5 percent vanadium pentoxide). At this extraction rate, the JORC resource provides approximately 60 years of potential mining inventory.
The project was included in the New Zealand government's Schedule 2 of the Fast Track Approvals Act 2024. The next step for Manuka was to complete pre-feasibility study (“PFS”) on the project. This was released to the market on 26 March 2025 and presents an extremely robust economic outlook for the project as can be seen below.
Management Team
Dennis Karp – Executive Chairman
Dennis Karp is a former commodities trader with nearly four decades of corporate experience. He started his career in 1983 and worked in HSBC until 1997 before moving to Tennant, one of Australia’s largest physical commodities trading companies with operations in Asia and Europe. He was a principal shareholder of Tennant Metals until 2010 and a managing director until December 2014. He founded ResCap in December 2014. Since then, he has participated in diverse resource projects and investment opportunities across base metals and bulk commodities. He holds a Bachelor of Commerce from the University of Cape Town.
Alan Eggers – Executive Director
Alan Eggers has over 40 years of experience in the mining sector. He is a geologist and was the founder of Summit Resources, which became an ASX top 200 company and was acquired by Paladin Energy in 2007 for AU$1.2 billion. Throughout his career, he has held director positions at numerous companies. He holds a Bachelor of Science, Honours, and Master of Science degrees from Victoria University of Wellington. He is recognized as a fellow of the Society of Economic Geologists and holds memberships in AusIMM and the Australian Institute of Geoscientists.
John Seton – Non-executive Director
John Seton is a lawyer with extensive experience in the mineral resources sector. He has served as director in several ASX and NZX listed companies. He holds a Bachelor of Laws from Victoria University, Wellington, and a Master of Law (Honours) from the University of Auckland and is a chartered fellow of the New Zealand Institute of Directors.
Haydn Lynch – Chief Operating Officer
Haydn Lynch has over 25 years of experience in M&A, capital markets and private equity. He has been involved in executing several domestic and cross-border transactions in various sectors including metals and mining, and industrials. He has held leadership roles in global investment banks, including Bankers Trust Australia, Investec Bank, RBC Capital Markets and Southern Cross Equities. He has undergraduate degrees in mechanical engineering and economics from the University of Queensland and a Master in Commerce from the University of New South Wales.
Dieter Engelhardt – Chief Metallurgist and General Manager
Dieter Engelhardt has over 30 years of experience in the mining industry including roles as senior metallurgist at Telfer Gold Mine and Northparkes Mines, resident manager at McKinnons Gold Mine, and manager of ore processing at CSA Mine. Engelhardt was employed by Newcrest Mining (now Newmont) in various roles, including as manager of ore processing and principal metallurgist.
Phil Bentley – Chief Geologist
Phil Bentley has over 40 years of experience in the mining industry across New Zealand, South Africa, and Australia, holding senior geological roles as well as senior management and director positions. He has worked as a chief geologist at Randgold Resources and Randgold & Exploration, Global Head of Exploration at Trafigura Mining Services, and Principal Geologist Africa at CSA Global South Africa. He is a Qualified person under NI 43-101 (Canada) and JORC (Australia) and is a Fellow of the South African Geological Society. He holds a Bachelor of Science (Honours) in Geology at Victoria University of Wellington. He also has a Masters of Science in Economic Geology at Victoria University of Wellington and a Master’s of Science in Mineral Exploration from Rhodes University, Grahamstown South Africa.
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Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales
30 May
Taranaki VTM Continues to Progress Through Fast-track
15 May
Taranaki Project proceeds to next stage of NZ Fast-Track
3h
Top 5 ASX Gold Stocks of 2025
Gold continued to perform well through the second quarter of 2025, reaching a new all-time high of AU$5,425 per ounce on April 22.
The price surge has occurred amid volatile equity and financial markets since the start of the year, driven by concerns over a global trade war and escalating geopolitical tensions in the Middle East.
The rising gold price has also been supported by uncertainty over a looming debt crisis in the United States. Some investors have turned away from dollar-denominated haven assets, such as US Treasuries, in favour of precious metals like gold.
What implications do these circumstances hold for ASX-listed gold stocks? Read on to discover which companies have seen the biggest gains in 2025. Data for this article was retrieved on June 25, 2025, using TradingView's stock screener, and only companies with market capitalizations greater than AU$10 million at that time were considered.
1. Forrestania Resources (ASX:FRS)
Year-to-date gain: 469.23 percent
Market cap: AU$23.91 million
Share price: AU$0.074
Forrestania Resources is a gold, copper and lithium exploration company with projects in Western Australia. Since the start of the year, the company has been focused on gold exploration at its Bonnie Vale and Forrestania projects.
Bonnie Vale lies within the Eastern Goldfields. The property covers an area of 75 square kilometres and hosts multiple zones of mineralization, including the Ada Ann prospect. Historic drilling at the site has seen assays returned up to 12.8 grams per tonne (g/t) gold over 4 metres.
Shares started to gain after the company announced on February 13 that it had begun follow-up drilling at the prospect and would build on its maiden program at the site. The most recent results from the program were released on May 9, with the company reporting a highlighted assay of 4.3 g/t gold over 7 metres, including 25.6 g/t over 1 metre.
The company said the results showed some thickening of the mineralized zones at depth, adding that the known mineralization had been extended to the north and south, with the prospect open in all directions.
The company has also been working on its Lady Lila gold prospect at its Forrestania gold-lithium project. The prospect, located in the Southern Cross Greenstone Belt, has a strike length of 2 kilometres and a width of 700 metres. According to the company website, the deposit has an inferred resource of 24,000 ounces of gold from 514,000 tonnes of ore with an average grade of 1.4 g/t gold.
On May 12, Forrestania announced both an upcoming drill program at the Lady Lila prospect and the company's acquisition of a tenement immediately adjacent to it.
Additionally, Forrestania reported on May 16 that metallurgical engineer David Geraghty joined the company board as a non-executive director. The company noted that he is a highly experienced mining executive and brings a background in project development and operational expertise.
The company's share price climbed in the following weeks to reached a year-to-date high of AU$0.085 on May 28.
2. Native Mineral Resources (ASX:NMR)
Year-to-date gain: 361.54 percent
Market cap: AU$169.89 million
Share price: AU$0.18
Native Mineral Resources is a gold exploration and development company advancing its Charters Tower gold project in Northeast Queensland, Australia, to production in Q3 of this year. It also owns the Palmerville gold-copper project in the same state.
Native acquired Charters Tower in November 2024 for AU$18.9 million and a 2 percent royalty on gold production .
The project consists of 17 granted mining leases, one mineral development licence, six exploration permits and one exploration permit application. The site hosts the Far Fanning and Blackjack deposits, both of which have a historic exploration background. Additionally, Blackjack is home to a 340,000 tonne per annum gold processing plant.
The company announced on June 17 that it was on schedule for first gold pour at Blackjack by the end of July. At that time, the open pit was established, dry commissioning of the plant was underway and water and air services installations were nearing completion. Infrastructure and surface preparation is also on track to support the commencement of mining in Q3 2025.
As for Palmerville, Native Mineral Resources announced June 16 that it was granted a new exploration permit that expanded the project. The company is planning fieldwork at the project later this year.
Shares in Native Mineral Resource reached a year-to-date high of AU$0.22 on June 17.
3. Trek Metals (ASX:TKM)
Year-to-date gain: 290.91 percent
Market cap: AU$42.78 million
Share price: AU$0.086
Trek Metals is an exploration company with several assets throughout Australia, including the highly prospective Christmas Creek project. The property covers an area of 1,183 square kilometres in the Kimberley Region of Western Australia, and, according to Trek, has significant district-scale potential for gold and rare earth elements.
The company wholly acquired Christmas Creek as part of its acquisition of ArcherX in October 2023. Newmont (TSX:NGT,NYSE:NEM) had previously earned a 75 percent interest in the project from ArcherX, but returned it as part of a portfolio rebalancing.
Shares in Trek gained significantly starting on March 17 after the company reported visible gold in drill chips from its 2024 exploration campaign at the Martin target. The chips came from two previously reported high-grade intervals, one of which graded an average of 12.66 g/t gold over 10 metres.
Trek said it decided to fast-track drilling based on this discovery, along with down-hole televiewer data that confirmed a series of stacked veins.
Following surveying and earthworks in preparation of the next phase, Trek commenced a major drill at the site on June 4, targeting extensions of the Martin target while also focusing on mineralization from other targets.
The company followed up with an announcement on June 25 that it had secured an additional rig to enlarge the drill program for deeper exploration and to obtain more detailed structural information.
Shares in Trek reached a year-to-date high of AU$0.092 on June 23.
4. African Gold (ASX:A1G)
Year-to-date gain: 224.56 percent
Market cap: AU$86.85 million
Share price: AU$0.185
African Gold is a gold exploration company with projects in Côte d’Ivoire. The company’s primary focus in 2025 has been on the Blaffo Guetto prospect at its Didievi gold project in Central Côte d’Ivoire.
During the first half of 2025, African Gold conducted a 10,000 metre diamond drill program at the site, with the intention of upgrading its July 2024 maiden inferred resource of 452,000 ounces of gold from 4.93 million tonnes at an average grade of 2.9 g/t gold.
On June 23, the company announced that its efforts had yielded a significant boost to its resources, reporting an updated inferred resource of 989,000 ounces from 12.4 million tonnes, with an average grade of 2.5 g/t, using a cut-off grade of 0.8 g/t. The announcement added that the gold system has been primarily tested at near-surface depths of approximately 300 metres and has demonstrated mineralization open in all directions.
African Gold has also been drilling at other targets at Didievi this year that are outside the resource area. The company reported the discovery of a large gold system at the Poku Trend in April, and confirmed continuous gold mineralisation over 600 metres at the Pranoi prospect in May.
In addition to exploration work, on March 25 African Gold announced a strategic partnership with Montage Gold (TSX:MAU), a fellow gold company in Côte d’Ivoire advancing its Koné gold project towards production in 2027, as well as a private placement for up to AU$1.84 million with separate investors that was later upsized to AU$2.7 million.
Montage and insiders would acquire a large stake in African Gold through a share swap of 2.03 million shares of Montage for 92.38 million shares in African Gold, both valued at AU$6.47 million, as well as through a placement of 12.37 million shares to Montage insiders worth AU$866,000. Following the completion of the deal on June 13, Montage holds a 17.5 percent stake in African Gold.
Shares in African Gold reached a year-to-date high of AU$0.195 on June 26.
5. Torque Metals (ASX:TOR)
Year-to-date gain: 203.92 percent
Market cap: AU$76.35 million
Share price: AU$0.145
Torque Metals is a gold exploration company working to advance its flagship Paris gold project in Western Australia. The property covers an area of 700 square kilometres near Kalgoorlie.
In June, Torque completed its merger with Aston Minerals that was announced on January 28. The combined business controls 1.75 million ounces of gold resources between Torque’s Paris project and Aston’s Edleston gold project in Ontario, Canada.
The company has spent the first half of 2025 focused on exploration work at its Paris project, announcing the discovery of parallel lodes on March 6. The trends were identified through shallow drilling, with one located 80 metres southeast of the main Paris deposit and the other,= 100 metres northwest.
Initial assays from the drilling returned highlighted drill samples from the southeastern lode of 4.04 g/t gold over 4 metres, which included an intersection of 7.39 g/t over 2 metres. Meanwhile, the northwestern lode returned a highlighted sample of 1.02 g/t over 7 metres.
The company furthered the exploration work in April through the use of down-hole electromagnetic surveys. It reported on May 5 that the surveys detected large off-hole conductors "extending well beyond the current mineral resource estimate," indicating potential for resource growth. Due to the success of the surveys thus far, Torque said it plans to continue using the method over further targets at its project.
The most recent announcement from the project came on May 8, when the company reported that it had been awarded a co-funded diamond drilling grant through Western Australia’s Exploration Incentive Scheme. The company will receive AU$144,500 toward drilling for gold extensions west of the known zones.
Shares in Torque reached a year-to-date high of AU$0.155 on June 26.
FAQs for ASX gold stocks
How to invest in gold on the ASX?
As Australia is a top gold-mining jurisdiction and the country's government is supportive of mining, there are plenty of options for investing in gold on the ASX. Between gold miners operating major projects and gold explorers hunting for the next significant gold discovery, investors can choose what kind of company matches their risk appetite and portfolio.
When looking for a gold company to invest in, be sure to do your due diligence and learn about the company's key characteristics, including its leadership team, its finances and the geology of its projects.
How to buy gold stocks on the ASX?
Once you’ve selected a company or multiple companies to invest in, you can buy gold stocks using trading apps with access to ASX stocks, or you can get the help of a stock broker.
How to buy gold ETFs on the ASX?
For investors who prefer broader exposure to a sector, exchange-traded funds (ETFs) are a good option, and the ASX is home to multiple gold-focused ETFs. Because they are traded on exchanges like stocks, you can buy ETFs using the same methods described above. ASX-listed gold ETFs to consider include:
- ETFS Physical Gold (ASX:GOLD), which promises "low-cost access to physical gold via the stock exchange" and can be redeemed for physical gold.
- Perth Mint Gold (ASX:PMGOLD), which tracks the international price of physical gold.
- BetaShares Gold Bullion (ASX:QAU), which also tracks the physical bullion price.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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10h
Sun Summit Minerals: Advancing District-scale Gold and Copper Projects in British Columbia
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company advancing district-scale gold and copper projects in British Columbia. Its flagship JD Project, located in the prolific Toodoggone district, is the focus of an aggressive 5,000-meter drill program in 2025 targeting a potential multi-million-ounce epithermal gold-silver system.
With funding in place, a five-year exploration permit secured, and an on-site camp established, Sun Summit is executing a disciplined strategy to build scale, unlock resource value, and deliver returns to shareholders. Reinvigorated by a revamped leadership team and a refined vision, the company is leveraging high-grade, strategically located assets to drive long-term growth.
The JD and Theory projects cover over 25,000 hectares in the heart of British Columbia’s Toodoggone mining district, one of Canada’s most prospective regions for epithermal gold-silver and porphyry copper-gold systems. The district hosts several significant deposits, including Thesis Gold’s Ranch and Lawyers projects (4.7 Moz gold equivalent, ~C$250 million market cap), Centerra Gold’s Kemess underground development, and TDG Gold’s Shasta-Baker project. The area is well supported by infrastructure, including hydroelectric grid access, all-season roads, and the nearby Sturdee airstrip.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
This Sun Summit Minerals profile is part of a paid investor education campaign.*
Click here to connect with Sun Summit Minerals (TSXV:SMN) to receive an Investor Presentation
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02 July
High grade gold in early stage drilling at Sandstone
02 July
David Erfle: Silver Staging "Powerful" Breakout; Plus Gold Stocks and Copper Squeeze
David Erfle, editor and founder of Junior Miner Junky, shares his short-term outlook for gold, saying it could see a healthy test of US$3,200 per ounce — or even US$2,950 to US$3,000.
Erfle also shares his thoughts on what's coming for silver and copper prices.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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02 July
Meeka Metals Reports First Gold Pour at Murchison Project
Meeka Metals (ASX:MEK) has poured the first gold at its flagship Murchison project in Western Australia.
The pour happened on Tuesday (July 1), and in a Wednesday (July 2) press release, the company said the project’s production is in line with schedule, happening within 12 months of breaking ground.
Murchison sits near several multimillion-ounce gold mines and hosts a large, high-grade resource of 1.2 million ounces at 3 grams per tonne (g/t) gold on granted mining leases.
Meeka released a definitive feasibility study in December 2024, outlining a 10 year production plan for the project. Up to 76,000 ounces per annum are targeted, with an average of 65,000 ounces approximated for the first seven years.
The study also focused on restarting the Andy Well mill, with site activity commencing during Q1 2025. Process plant commissioning followed in the next quarter, with the first gold pour following its projected schedule of mid 2025.
“It is an impressive achievement by the team to deliver first gold on time and within 12 months of breaking ground at the Murchison,” said Managing Director Tim Davidson. “We are now focused on ramping up gold production toward our targeted 80 kilo ounces per annum with the arrival of the third dig fleet and expanded open pit mining plan underway.”
Drilling at Turnberry Central, part of Murchison, was announced on June 10. Results include 30 metres at 1.09 g/t gold from 29 meters, including 9 meters at 2.45 g/t gold.
The company announced in mid-June that process plant commissioning was underway at Murchison.
Underground mining at Murchison’s Andy Well mill is set to begin in the third quarter of 2025. As per a company presentation shared by Meeka on June 19, Andy Well hosts a mineral resource of 505,000 ounces at 8.6 g/t gold.
First ore from Andy Well is expected in the third quarter of this year.
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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02 July
Sun Summit Minerals
Investor Insight
Sun Summit Minerals is targeting the delineation of a multi-million-ounce gold-silver resource at its flagship JD project. With strategic positioning in an emerging consolidation hotspot, compelling valuation metrics, and a track record of discovery, Sun Summit is primed to deliver substantial value creation in the coming quarters.
Overview
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company focused on developing its district-scale gold and copper projects in British Columbia. The company’s flagship JD Project, located in the Toodoggone district, is undergoing an aggressive 5,000-meter drill campaign in 2025 aimed at delineating a multi-million-ounce epithermal gold-silver system.
Complementing JD is the company’s Buck project, a large, bulk-tonnage gold-silver system near Houston, BC, with an initial NI 43-101 resource estimate and significant exploration upside.
With capital in hand, a five-year exploration permit secured, and a camp established at JD, Sun Summit is executing a focused strategy to build scale, unlock resource potential and drive shareholder value. The company has taken lessons from its past and re-emerged with a sharpened vision, an overhauled team and assets that are not only high-grade but strategically located to create shareholder value.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
Key Projects
JD & Theory Projects
The JD & Theory projects span more than 25,000 hectares in the heart of the Toodoggone mining district in north-central BC, one of Canada’s most prospective belts for epithermal gold-silver and porphyry copper-gold systems. The district is home to Thesis Gold’s Ranch and Lawyers deposits (4.7 Moz gold equivalent, C$250 million market cap), Centerra’s Kemess underground development, and TDG Gold’s Shasta-Baker project. Infrastructure around the project includes hydroelectric grid access, the nearby Sturdee airstrip and all-season roads.
The JD project hosts a 4.5 km mineralized corridor, known as Creek-Finn, with multiple underexplored targets showing evidence of both high-grade veins and broad disseminated gold systems. Historic and recent drill highlights include:
- 2.1 grams per ton (g/t) gold over 122.5 m including 121 g/t gold over 1.5 m (CZ-24-004)
- 11.7 g/t gold over 22 m including 61.2 g/t gold over 4 m (CZ97-008)
- 7.3 g/t gold over 35.7 m including 215.4 g/t gold over 1 m (JD95-0472)
The Creek Zone features high-grade epithermal veins within broader disseminated zones, supported by strong IP anomalies and gold-in-soil results up to 12.2 g/t gold. The Finn Zone hosts near-surface mineralization with extensive historical drilling (~270 holes) and is open in all directions. Other targets include McClair (porphyry copper), East McClair (copper-gold skarn) and Moosehorn.
The 2025 program includes 5,000 meters of core drilling across 25 holes, 20 km of IP geophysics, 2,000+ soil samples, and full-scale camp operations. A five-year permit secured in April 2025 provides exploration continuity through 2030.
Camp setup at JD project
Sun Summit can earn 100 percent of the JD project by making staged cash/share payments and completing work commitments through 2029. With ~C$6 million earmarked for the project this year alone, Sun Summit is expected to fulfill its 2025 and 2026 earn-in obligations without additional equity raises.
Buck Project
The 100 percent owned Buck project spans 52,000 hectares and is located near key deposits, including Artemis Gold’s Blackwater (8 Moz gold), Imperial’s Huckleberry copper mine, and Newmont’s historic Equity Silver mine. Buck features near-surface bulk-tonnage gold-silver mineralization with porphyry copper-molybdenum potential at depth.
In February 2025, Sun Summit published its inaugural NI 43-101 mineral resource:
- Indicated: 1.15 Mt @ 0.519 g/t gold equivalent (19,100 oz)
- Inferred: 52.2 Mt @ 0.489 g/t gold equivalent (820,400 oz)
Mineralization remains open in all directions. Buck is considered a strategic asset providing leverage to rising gold prices and future transaction potential, but currently receives minimal capital allocation as JD is prioritized.
Management Team
Niel Marotta – Chief Executive Officer and Director
Niel Marotta has more than two decades of capital markets experience, including a successful tenure at Fidelity (FMRCo.), where he managed the top-performing Select Gold Fund and oversaw >$1 billion in AUM. He was previously VP at Orezone Resources, where he helped lead its C$350 million acquisition by IAMGOLD. Marotta has raised over $1 billion in financing and is driving Sun Summit’s transition from a legacy explorer to a discovery-focused value generator.
Brian Lock – Executive Chairman
A veteran of the mining industry with 40+ years of executive experience, Brian Lock has led multiple public companies, including Castle Peak Mining and Scorpio Gold. His expertise spans project development, M&A and corporate governance.
Waseem Javed – Chief Financial Officer
A seasoned mining CFO, Waseem Javed ensures disciplined capital deployment and financial controls. His experience spans junior explorers and mid-tier producers across Canada and the US.
Ken MacDonald – VP Exploration
Ken MacDonald is a registered professional geologist with over 30 years in mineral exploration and permitting in BC. Formerly with the BC Mines Branch and multiple juniors, he leads Sun Summit’s technical programs and NI 43-101 compliance.
Christopher Leslie – Technical Advisor
An expert in porphyry and epithermal systems, Christopher Leslie led the discovery of the 8 Moz Blackwater deposit while at Richfield Ventures, and later served as VP exploration for Tower Resources. He was instrumental in advancing the JD-Theory project during its prior ownership.
Robert D. Willis – Senior Advisor
Founder of several successful exploration companies, including Pioneer Metals and Manhattan Minerals, Robert Willis has 35+ years of technical and executive experience across North and South America.
Terry Salman – Strategic Advisor
Founder of Salman Partners and one of Canada’s most influential mining financiers, Terry Salman has backed dozens of successful juniors over a 40-year career in mining investment banking.
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