The Day’s Play Edition 97: Asset sales, resource growth and copper system confirmation | CHR, LM8, MML

Charger Metals (ASX:CHR)

Bynoe Lithium Project Sale Agreed With Core

THE PLAY

• Charger signed a binding agreement to sell the Bynoe Lithium Project.

• The transaction includes $3.75M cash payable at completion.
• A further $1.0M is payable upon a resource milestone.
• The deal includes a 1.0% gross revenue royalty capped at $10M.
• Core Lithium’s subsidiary Bynoe Lithium Pty Limited is the purchaser.

THE PITCH

• The Bynoe Lithium Project comprises exploration licence EL30897.
• The project covers approximately 63km² within the Finniss Lithium Project area.
• Bynoe is located approximately 9km from the Finniss Concentration Plant.
• The project contains more than 20 prospective lithium targets.
• The sale includes associated mining information and core samples.

THE NEXT OVERS

• Obtain approval for transfer of the tenement under the Mineral Titles Act.

• Complete the transaction following satisfaction of the condition precedent.
• Receive the $3.75M completion payment on settlement.

Read full ASX Announcement here.

Lunnon Metals (ASX:LM8)

Early Debt Repayment Follows Strong Gold Cash Generation

THE PLAY

• May gold production generated sufficient operating cash flow to support debt repayment.

• The company repaid its $6.0 million working capital facility in full.
• May ore deliveries generated approximately $10.8 million from Gold Fields.
• Direct Lady Herial operating costs totalled approximately $3.4 million during May.
• Over 52,000t at 1.71g/t Au containing 2,865oz gold was mined.

THE PITCH

• Lady Herial operates under an Ore Purchase Agreement with Gold Fields.

• More than 144,000t at 1.53g/t Au has been delivered to Gold Fields.
• Delivered ore has yielded 6,451oz at 91% metallurgical recovery.
• Mining had progressed to the 295mRL bench by 31 May.
• The company estimates a cash balance of approximately $21.0 million at 30 June.

THE NEXT OVERS

• Complete remaining Lady Herial open pit mining activities.

• Continue rehabilitation of waste dumps alongside mining operations.
• Continue construction of the final abandonment bund.

Read full ASX Announcement here.

McLaren Minerals (ASX:MML)

High-Grade Titanium Extension Emerges Beyond Resource Boundary

THE PLAY

• High-grade titanium mineralisation extends beyond the current resource footprint through extension drilling.

• Bonanza grades reached 34.6% HM in resource expansion drilling results.
• South-eastern extension drilling returned 22m at 7.62% HM from surface.
• Resource drilling delivered multiple broad, near-surface high-grade heavy mineral intersections.
• Drilling confirmed continuity across upper and lower mineralised strand systems.

THE PITCH

• McLaren Titanium Project hosts a 529Mt JORC Indicated and Inferred Resource.

• The wholly owned project sits within Western Australia’s Eucla Basin.
• The deposit contains 23.7Mt of in-situ heavy mineral tonnes.
• The existing resource comprises 249Mt Indicated and 280Mt Inferred material.
• The project includes the adjacent Eastern Shoreline target area.

THE NEXT OVERS

• Complete the Phase 2 Mineral Resource Upgrade drilling program.

• Receive outstanding assays from south-eastern extension follow-up drilling.
• Incorporate drilling results into an updated Mineral Resource Estimate.

Read full ASX Announcement here.

Chilwa Minerals (ASX:CHW)

Resource Upgrade Delivers 109.6Mt At Mpyupyu

THE PLAY

• Mpyupyu Mineral Resource more than doubled to 109.6Mt following infill sonic drilling.

• Approximately 89% of the resource is now Measured and Indicated.
• The resource includes a 50.6Mt high-grade core grading 4.65% THM.
• Contained heavy minerals increased 62% to 3.61Mt.
• Mpyupyu is now Chilwa’s largest heavy mineral sands deposit.

THE PITCH

• Mpyupyu forms part of the Chilwa Critical Minerals Project in Malawi.

• The updated resource comprises 24.5Mt Measured, 73.6Mt Indicated and 11.6Mt Inferred.
• The deposit contains ilmenite and zircon as the primary heavy mineral products.
• QEMSCAN analysis confirmed monazite throughout the deposit.
• Mpyupyu is located within approximately 1km of the Nakombe niobium-REE target.

THE NEXT OVERS

• Release the Mpyupyu Scoping Study in Q3 2026.

• Continue sonic drilling at the Mpyupyu West target.
• Complete ongoing head characterisation studies on Mpyupyu composite samples.

Read full ASX Announcement here.

Austral Resources Australia (ASX:AR1)

Maiden Drilling Confirms Large Copper Oxide System

THE PLAY

• Maiden drilling confirmed a copper oxide system across more than 1.2km strike.

• Canyon South returned 24m at 1.03% Cu from 74m as oxide.
• The standout interval included 14m at 1.60% Cu from 83m.
• Canyon South also returned 57m at 0.44% Cu from 4m.
• Copper oxide mineralisation remains open in multiple directions.

THE PITCH

• The Canyon Prospect is located less than 4km from Mt Kelly infrastructure.

• The prospect forms part of Austral’s Mt Kelly district exploration portfolio.
• Copper oxide mineralisation comprises malachite, azurite and chrysocolla.
• The mineral system is concealed beneath transported cover and silcrete.
• Geological observations indicate a sediment-hosted copper mineralisation style.

THE NEXT OVERS

• Conduct follow-up drilling to define dimensions and higher-grade zones.
• Undertake step-out drilling across Canyon North, Central and South.
• Complete metallurgical testwork on heap leach and SX-EW recovery.

Read full ASX Announcement here.

Unity Metals (ASX:UM1)

Gold System Strengthens Beneath Basalt Cover

THE PLAY

• Gold mineralisation is strengthening as it extends northeast beneath basalt cover.

• New drilling intersected 5m at 1.8g/t gold from 196m at Rohav Mountain.
• The new intersection sits 150m southwest of a previous 23m gold zone.
• Best gold intersections occur along diorite intrusion and hornfels contacts.
• Mapping and drilling indicate the diorite intrusion thickens beneath basalt cover.

THE PITCH

• Rohav Mountain hosts gold mineralisation within altered diorite and surrounding hornfels.

• Mineralisation is associated with sheeted and stockwork quartz-sulphide vein systems.
• The diorite intrusion exceeds 150m width and extends approximately 700m.
• Unity has completed 13 diamond holes for 2,713.9m at Rohav Mountain.
• The prospect forms part of the Ngot Gold Project in Cambodia.

THE NEXT OVERS

• Complete UAV magnetic and induced polarisation geophysical surveys.

• Identify new drilling targets beneath the basalt cover.
• Receive outstanding assay results from 3 remaining drill holes.

Read full ASX Announcement here.

Core Lithium (ASX:CXO)

Blackbeard Drilling Begins Ahead Of Maiden Resource

THE PLAY

• Core commenced a 12,150m diamond drilling program at Blackbeard.

• The program is designed to support a maiden Mineral Resource Estimate.
• Drilling will assess continuity and quality of lithium mineralisation.
• Blackbeard is Core’s highest-priority growth opportunity at Finniss.
• Core acquired the Bynoe Lithium tenement surrounding the Blackbeard prospect.

THE PITCH

• Blackbeard hosts an Exploration Target of 7.0Mt to 10.0Mt at 1.5% to 1.7% Li₂O.

• The prospect is located within 20km of the Finniss processing plant.
• Previous drilling returned 63m at 1.67% Li₂O at Blackbeard.
• Drilling indicates a continuous pegmatite body with approximately 320m strike length.
• The Bynoe Lithium Project covers approximately 63km² within the Finniss Project area.

THE NEXT OVERS

• Complete the Blackbeard drilling program during Q3 CY2026.

• Release assay results progressively as they are received and validated.
• Complete the Bynoe Lithium Project acquisition following regulatory approvals.

Read full ASX Announcement here.

Accelerate Resources (ASX:AX8)

Maiden RC Drilling Begins At Spencers Gold Discovery

THE PLAY

• Accelerate commenced maiden RC drilling at the Spencers gold discovery.

• A 1,200m program will test a 300m mineralised gold trend.
• The mineralised trend remains open along strike and down-dip.
• Recent 1m resampling identified higher-grade zones within broader gold intercepts.
• The program represents the first deeper test of the Spencers discovery.

THE PITCH

• Spencers is located within the Balagundi Gold Project near Kalgoorlie.

• The prospect hosts a coherent north-south striking mineralised trend.
• Previous aircore drilling returned 28m at 1.01g/t Au from 36m.
• Aircore drilling also returned 8m at 1.42g/t Au from 28m.
• Recent resampling identified zones grading up to 9m at 1.75g/t Au.

THE NEXT OVERS

• Complete the maiden RC drilling program over approximately 1 week.

• Assess continuity and potential higher-grade positions within the gold system.
• Release RC assay results following receipt, validation and interpretation.

Read full ASX Announcement here.

EQ Resources (ASX:EQR)

Barruecopardo Drilling Targets Resource Growth Extensions

THE PLAY

• Phase 1 drilling has commenced at the Barruecopardo tungsten mine.

• The program comprises 36 drill holes for 12,155m.
• Drilling targets extensions north, south and below the current open pit.
• The deposit remains open in all targeted drilling directions.
• The program aims to support resource growth and mine life extension.

THE PITCH

• Barruecopardo is EQR’s tungsten operation located in Spain.

• Two drill rigs are currently operating as part of Phase 1.
• The drilling program is budgeted at approximately $2.47M.
• Phase 1 was designed by the company’s geology team.
• The program targets mineralisation along strike and at depth.

THE NEXT OVERS

• Continue the Phase 1 drilling program over approximately 8 months.

• Release final drilling results following completion of the program.
• Deliver an updated resource estimate around 2 months after drilling completion.

Read full ASX Announcement here.

PLS Group (ASX:PLS)

$175M Approved Ahead of Pilgangoora Expansion Decision

THE PLAY

• PLS approved $175M of pre-FID capital for the P2000 expansion project.

• The approval preserves schedule optionality ahead of a final investment decision.
• Approximately $100M was allocated to engineering and long-lead equipment procurement.
• Approximately $60M was allocated to site preparation and operational readiness works.
• Approximately $15M was allocated to road and infrastructure upgrades.

THE PITCH

• P2000 targets concentrate production capacity of approximately 2.0Mtpa.

• The project is located within the 100%-owned Pilgangoora Operation.
• The P2000 feasibility study remains in progress.
• Pilgangoora is PLS’ hard-rock lithium operation in Western Australia.
• Any final investment decision remains subject to study outcomes, funding capacity and market conditions.

THE NEXT OVERS

• Release P2000 feasibility study outcomes in the December Quarter 2026.

• Continue engineering, procurement and site preparation activities during FY27.
• Progress river crossing upgrades and access road infrastructure works.

Read full ASX Announcement here.

AML3D (ASX:AL3)

First ARCEMY Systems Operational At Largest US Military Shipbuilder

THE PLAY

• AML3D completed and commissioned 2 custom ARCEMY X systems for NNS.

• Commissioning completed the initial approximately $4.5M ARCEMY X system order.
• Completion triggered the final payment of approximately $892,000.
• NNS has already placed a second approximately $9.9M order.
• The follow-on order covers 4 additional custom ARCEMY X systems.

THE PITCH

• NNS is a division of HII, the largest military shipbuilder in the USA.

• The commissioned systems incorporate a 10,886kg positioner build capability.
• NNS plans to deploy an initial fleet of 6 custom ARCEMY X systems.
• The additional 4 systems are scheduled for delivery in early 2027.
• AML3D manufactures ARCEMY systems from its Stow, Ohio facility.

THE NEXT OVERS

• Deliver 4 additional custom ARCEMY X systems in early 2027.

• Complete the planned expansion of manufacturing capacity in Stow.
• Progress establishment of a European technology and manufacturing hub.

Read full ASX Announcement here.