Latest Mining News

Somerset Minerals Ltd has raised $2.39 million to fund its maiden drilling and surface sampling campaign at the Coppermine copper-silver project in Nunavut, targeting high-grade mineralisation supported by strong geophysical and historical data.

Prospect Resources has declared a maiden JORC-compliant copper resource of 107.2 million tonnes at 0.5% copper at its Mumbezhi Project in Zambia, alongside securing a strategic A$15.2 million investment from First Quantum Minerals. This milestone advances the project towards development with Phase 2 drilling planned for Q2 2025.

Astute Metals reports a successful beneficiation test at its Red Mountain Lithium Project, achieving a 36% mass reduction and 22% lithium grade increase, while phase 2 diamond drilling advances with two holes completed.

Australasian Metals Limited is streamlining its portfolio to concentrate on near-term exploration wins, launching a new IP survey at its promising May Queen gold project while exiting less viable ventures.

Power Minerals Limited has identified significant rare earth element potential at its prospective Santa Anna niobium carbonatite project in Brazil, signing a binding letter of intent to acquire the asset and planning immediate drilling to define an exploration target.

Native Mineral Resources Holdings Limited (NMR) reports promising assay results from resource definition drilling at its Blackjack Gold Project in Queensland, confirming shallow, high-grade gold mineralisation and deeper extensions. The company is advancing refurbishment of its processing plant, targeting gold production in Q3 2025.

Jindalee Lithium’s McDermitt Lithium Project has been designated a FAST-41 Transparency Project, enhancing federal permitting visibility and coordination to accelerate development in the US critical minerals sector.

Traka Resources has strategically entered Guinea’s prolific Siguiri Basin by securing a 75% earn-in joint venture in the Didi Gold Project, which hosts confirmed high-grade gold mineralisation. The company plans an aggressive multi-stage exploration program backed by an experienced local team.

Southern Hemisphere Mining has identified a significant new copper target, Ferro West, near its existing Ferro deposit at the Llahuin project in Chile, supported by advanced geophysical data and surface copper oxide findings.

Deep Yellow Ltd disclosed a quarterly cash flow report for Q1 2025, revealing a significant operating cash outflow but a robust cash reserve that supports an estimated 20 quarters of funding runway.

Deep Yellow Limited has deferred the Final Investment Decision for its flagship Tumas uranium project due to current uranium prices, while continuing detailed engineering and early works. The company remains confident in the project's robust economics and is progressing financing and development at its Mulga Rock project.

Adavale Resources has identified additional exploration targets at its Parkes Project and remains on track for maiden drilling in Q2 2025, reinforcing its position in the highly prospective Lachlan Fold Belt.