The Day's Play Edition 106: Nevada gold deal, new copper prospect and high-grade copper-gold discovery | SNM, KAO, TNC
THE COIN TOSS
SNM - Sentinel Metals entered a binding agreement to acquire the 1.01Moz Big Springs Gold Project, expanding its combined Mineral Resource base to approximately 2.0Moz of gold.
KAO - Kaoko Metals identified a new outcropping copper prospect at Bootless, expanding the Chalkos Project surface footprint between Otniel and Donkey Hill.
TNC - True North Copper confirmed a new high-grade copper-gold structure at Wallace North, with drilling returning 24.5m at 4.2% CuEq and the structure remaining open.
MDI - Middle Island Resources expanded the Bobija gold-silver-base metal discovery to approximately 80,000m², with mineralisation remaining open in all directions.
DBO - Diablo Resources secured shareholder approval for its acquisition of an 80% interest in the Horn Silver Project, clearing the transaction for completion.
KSN - Kingston Resources extended Red Terror gold-copper mineralisation beyond the current Mineral Resource envelope with high-grade underground drilling.
MHK - Metal Hawk secured 2 exploration licence ballots, expanding the Mt Percy Gold Project to more than 289km² along the Keith-Kilkenny Shear Zone.
TMK - TMK Energy increased June average gas production 8% to 742m³/day and appointed Major Drilling for its 2026 drilling and workover program.
CHR - Charger Metals increased lithium ore sorting grades by 31% to 1.32% Li₂O with 94.9% recovery in Stage 1 metallurgical testwork.
MRQ - MRG Metals identified gallium oxide assays up to 450ppm associated with rare earth and magnetite mineralisation at the Garies Project.
ESR - Estrella Resources returned manganese rock chip assays up to 57.8% Mn, supporting a more widespread manganese-bearing Noni Formation across its exploration concessions.
Sentinel Metals (ASX:SNM)
Binding acquisition adds 1.01Moz Nevada gold project
The Play
Sentinel entered a binding agreement to acquire the Big Springs Gold Project.
Big Springs hosts a JORC Mineral Resource of 15.5Mt @ 2.0g/t Au for 1.01Moz.
The acquisition expands Sentinel's combined Mineral Resource base to approximately 2.0Moz of gold.
Big Springs is currently permitted for open cut and underground mining.
Sentinel will raise $15M through a placement to help fund the acquisition.
The Pitch
Big Springs is located on Nevada's Independence Trend.
The project includes a current Mining Lease for surface and underground mining.
The project covers approximately 93km² of Carlin-style gold tenure.
Sentinel's Columbia Gold-Silver Project hosts a Mineral Resource of 920koz Au and 3.1Moz Ag.
The upfront acquisition consideration comprises $8.5M cash and $5M in Sentinel shares.
The Next Overs
Seek shareholder approval for the acquisition and placement.
Complete the $15M placement, subject to shareholder approval.
Complete the acquisition following satisfaction or waiver of the transaction conditions.
Read full ASX Announcement here.
Kaoko Metals (ASX:KAO)
New copper prospect expands Chalkos surface footprint
The Play
Identified a new outcropping copper prospect at Bootless.
Bootless lies within a previously untested 2.2km corridor between Otniel and Donkey Hill.
Mapping extended Otniel's surface footprint beyond 600m.
Mapping extended Donkey Hill's surface footprint beyond 800m.
Visible copper mineralisation was identified at Bootless, Otniel and Donkey Hill.
The Pitch
The Chalkos Copper-Silver Project is located in Namibia.
Bootless is about 600m west of Otniel and 2km south of Donkey Hill.
Observed mineralisation includes chalcocite, malachite, azurite and chrysocolla.
Mineralisation occurs as vein and disseminated styles within quartzites and carbonates.
Rock chip samples were collected from the newly identified mineralised areas.
The Next Overs
Laboratory assay results are expected in approximately 6 to 8 weeks.
Maiden diamond drilling is scheduled to commence in approximately 5 weeks.
Assay results will be incorporated into drill targeting and sequencing.
Read full ASX Announcement here.
True North Copper (ASX:TNC)
New high grade copper gold structure confirmed at Wallace North
The Play
Diamond drilling confirmed a new high grade copper gold structure at Wallace North.
Best intercept returned 24.5m at 2.17% Cu and 2.01g/t Au for 4.2% CuEq.
The structure remains open along strike and at depth.
Drilling intersected new footwall and hanging wall structures.
RC drilling intersected gold copper mineralisation at Wallace South, Wallace East and Buena Vista.
The Pitch
Wallace North is part of the Cloncurry Copper Project.
The 2026 program combined resource extension, exploration and technical drilling.
Wallace North hosts a 2.00Mt Indicated and Inferred Resource at 1.28% Cu and 0.77g/t Au.
Drilling improved understanding of the Wallace North mineralised system.
Diamond drilling provided geological, metallurgical and geotechnical information.
The Next Overs
Targeted follow up drilling is planned to infill and extend the new Wallace North structures.
Remaining diamond drilling assay results will be released.
Metallurgical and geotechnical test work will continue through September.
Read full ASX Announcement here.
Middle Island Resources (ASX:MDI)
Bobija discovery expands to approximately 80,000m²
The Play
Phase 2 drilling expanded the Bobija discovery to approximately 80,000m².
Mineralisation remains open in all directions.
Broad mineralisation was intersected across the Central, North and West zones.
Outstanding results included 13m at 1.87g/t Au, 93.2g/t Ag, 0.30% Cu, 1.46% Pb and 0.68% Zn.
Latest drilling linked the previously separate Central, West and North zones.
The Pitch
The Bobija Project is located in Serbia.
Phase 2 comprised 17 RC drill holes for 1,363m.
The Bobija Project comprises 5 mineral licences covering 182km².
Historic exploration largely focused on lead and zinc.
Current drilling continues to demonstrate gold and silver are major contributors to the system.
The Next Overs
Phase 3 drilling is planned to test open extensions to the mineralised system.
Phase 3 drilling will assess continuity within and between the Central, West and North zones.
Drilling will continue alongside exploration programs at the nearby Tisovik area.
Read full ASX Announcement here.
Diablo Resources (ASX:DBO)
Shareholders approve Horn Silver Project acquisition
The Play
Shareholders approved the acquisition of an 80% interest in the Horn Silver Project.
Approval clears the transaction for completion under the binding agreement.
The project covers approximately 13.2km² across 201 claims.
Initial exploration, including mapping, sampling and data review, is underway.
Initial exploration is underway to prioritise drill targets.
The Pitch
The Horn Silver Project is located in Utah, USA.
Antler Resources LLC holds an exclusive option over 101 patented claims and owns 100 unpatented claims.
The claims provide permitting flexibility for exploration.
The Horn Silver Project is a district scale mineralised system.
Priority targets include near mine, regional geophysical, regional geochemical and copper targets.
The Next Overs
Complete the acquisition of the Horn Silver Project.
Continue mapping, rock chip sampling and historical data validation.
Commence the maiden drill program in 2026, subject to permitting.
Read full ASX Announcement here.
Kingston Resources (ASX:KSN)
High-grade drilling extends Red Terror mineralisation
The Play
High-grade underground drilling extended Red Terror mineralisation outside the current Mineral Resource envelope.
KSNDDH080 returned 19.00m @ 10.75g/t Au, 0.63% Cu and 8g/t Ag.
The interval included 8.55m @ 23.80g/t Au, 0.91% Cu and 16g/t Ag.
KSNDDH081 returned 17.00m @ 5.09g/t Au and 0.93% Cu.
Assay results extended mineralisation down-dip and opened new northern extension areas.
The Pitch
Red Terror forms part of the Mineral Hill gold and copper mine in NSW.
The drilling targeted down-dip and along-strike extensions to the existing Mineral Resource.
The current Red Terror Mineral Resource is 214kt @ 1.5% Cu and 1.07g/t Au.
KSNDDH075 and KSNDDH076 intersected gold-copper mineralisation beneath historical stoping.
Mineralisation remains open at depth beneath the current Mineral Resource.
The Next Overs
Target extensions north of the existing Red Terror Mineral Resource.
Target further down-dip extensions at Red Terror.
Undertake additional drilling in the northern extension area.
Read full ASX Announcement here.
Metal Hawk (ASX:MHK)
Mt Percy footprint expands with 2 new exploration licences
The Play
Secured 2 exploration licence ballots at the Mt Percy Gold Project.
Project now comprises 4 tenement applications covering more than 289 km².
Expanded tenure consolidates Metal Hawk's position along the Keith-Kilkenny Shear Zone.
Project now covers more than 289 km² along the Keith-Kilkenny Shear Zone.
Mt Percy complements the advanced Leinster South Project.
The Pitch
Mt Percy is located along the Keith-Kilkenny Shear Zone in Western Australia.
The project covers more than 289 km² of prospective ground.
The Keith-Kilkenny Shear Zone hosts several major gold deposits in the district.
Gold mineralisation occurs in structurally controlled shear hosted deposits and intrusive contact settings.
Mt Percy complements the advanced Leinster South Project in the northeast Goldfields.
The Next Overs
Historic geochemical and geophysical datasets are being reviewed across the tenement applications.
RC drilling at Leinster South is due to recommence imminently.
Historic geochemical and geophysical reviews remain underway across the tenement applications.
Read full ASX Announcement here.
TMK Energy (ASX:TMK)
June gas production rises 8% to 742m³/day
The Play
June average gas production increased 8% to 742m³/day.
LF-07 recorded a second gas production spike during June.
LF-07 gas rates ended June about 20% above May.
Major Drilling was the successful drilling tenderer.
Long lead items were ordered for the 2026 drilling and workover program.
The Pitch
TMK owns 100% of the Gurvantes XXXV Pilot Well Project.
June average gas production was approximately 26,200scfd.
Water production averaged approximately 430 barrels per day during June.
TMK is progressing a Power Generation Project with Dashvaanjil Group.
Power Generation Project engineering and design is nearing completion.
The Next Overs
Execute the drilling contract with Major Drilling.
Commence the 2026 drilling and workover program in August.
Negotiate a commercial framework agreement following completion of engineering and design.
Read full ASX Announcement here.
Charger Metals (ASX:CHR)
Stage 1 ore sorting lifts lithium grade 31%
The Play
Stage 1 ore sorting increased Li₂O grade 31% to 1.32% with 94.9% recovery.
Ta₂O₅ grade increased 34% to 147ppm with 97.2% recovery.
The +10mm sorted concentrate achieved 1.37% Li₂O and 159ppm Ta₂O₅.
Fe grade decreased to 1.27%, rejecting 78% of the Fe units.
Ore sorting produced 72.5% mass recovery.
The Pitch
Charger owns 100% of the Lake Johnston Lithium Project.
The Medcalf Inferred Mineral Resource is 10.6Mt @ 1.0% Li₂O and 107ppm Ta₂O₅.
The metallurgical program used a 150kg Medcalf composite sample.
The average crushing work index measured 7.55kWh/tonne.
The project is within trucking distance of 4 existing spodumene concentration plants.
The Next Overs
Advance the ore sorter concentrate to Stage 2 dense media separation testwork.
Conduct batch-scale heavy liquid separation testwork.
Undertake Stage 3 variability testwork using optimum Stage 2 conditions.
Read full ASX Announcement here.
MRG Metals (ASX:MRQ)
Gallium identified with Garies rare earth mineralisation
The Play
Analysis of 85 magnetite vein drill samples averaged 290ppm Ga₂O₃.
Maximum gallium oxide assay returned 450ppm Ga₂O₃.
A metallurgical bulk sample contained 347ppm Ga₂O₃.
Two REO-rich concentrates assayed 880ppm and 573ppm Ga₂O₃.
QEMScan established gallium is associated with free pyrite grains within the magnetite vein.
The Pitch
The Garies Project is located in Northern Cape Province, South Africa.
MRG is principally exploring for rare earth minerals hosted in magnetite veins.
The gallium results were derived from 19 mineralised drill holes.
Pyrite comprises approximately 5% of the mineralised magnetite veins.
Pyrite has an average gallium grade of approximately 0.4%.
The Next Overs
Undertake further metallurgical testwork on gallium-bearing pyrite.
Assess alternative processing methods to selectively concentrate gallium-bearing pyrite.
Evaluate whether higher gallium grades can be achieved in a potential concentrate.
Read full ASX Announcement here.
Estrella Resources (ASX:ESR)
High-grade manganese rock chips expand exploration potential
The Play
Leuro rock chip samples assayed up to 57.8% Mn, averaging 34.6% Mn.
Sica rock chip samples assayed up to 55.7% Mn, averaging 47.5% Mn.
Leuro samples were collected from outcrops interpreted as continuations of a 500m manganese-rich layer of the Noni Formation.
The assay results suggest mineralisation is similar to material extracted for the 27,371t Stage 1 sample stockpile at Ira Miri.
Results support the interpretation that the manganese-bearing Noni Formation is more widespread across the exploration concessions.
The Pitch
Exploration is progressing alongside development at the Ira Miri manganese and Werumata Limestone projects.
Leuro and Sica were identified through reconnaissance mapping and rock chip sampling.
The company has identified several manganese prospects in Timor-Leste.
The exploration concessions include the Ira Miri manganese and Werumata Limestone projects.
The Next Overs
Receive Mobile MagnetoTellurics survey results from Ira Miri by the end of July.
Commence Res/IP surveys at Ira Miri, followed by Leuro and Sica to define priority drill targets.
Conclude customer discussions on the trial manganese parcel and provide a sale recommendation to the Board.