The Day's Play Edition 120: Gum Creek DFS lands, Side Well expands, Turnberry grows | HRN, GBR, MEK
THE COIN TOSS
HRN - Horizon Gold delivered a DFS for Gum Creek underpinned by a maiden 728koz Ore Reserve and a 10-year open pit mine plan.
GBR - Great Boulder Resources extended high-grade gold mineralisation beyond the 1.02Moz Side Well Resource, with Mulga Bill East extending more than 400m.
MEK - Meeka Metals intersected broad high-grade gold mineralisation 200m below the Turnberry Ore Reserve, highlighted by 52.3m @ 3.0g/t Au.
TG6 - TG Metals secured a processing pathway for approximately 60,000t of Van Uden gold-bearing stockpiles through a profit-share agreement with Medallion Metals.
NNL - Nordic Resources extended gold-copper mineralisation beyond the Kopsa Resource boundary with wide southwest step-out drilling.
PGL - Pilbara Gold extended gold mineralisation below the current Mt York pit shell through deeper drilling at Main Hill and Gossan Hill.
ADD - Adavale Resources identified 6 additional drill-supported near-mine gold prospects around London-Victoria from a systematic historic drilling review.
RCM - Rapid Critical Metals upgraded historical Webbs stockpile material to silver concentrate grades approaching and exceeding 1,000g/t Ag through XRT ore sorting.
BCA - Black Canyon delivered pilot-scale DMS beneficiation producing manganese concentrates grading up to 41.0% Mn with recoveries of up to 82%.
SMX - Strata Minerals expanded the Zelica Gold Project through a tenement acquisition and new application ahead of a project-wide high-resolution aeromagnetic survey.
BRK - Brookside Energy advanced the Sabres well into the lateral after landing the curve within the target Sycamore Formation.
Horizon Gold (ASX:HRN)
DFS Confirms 10-Year Gum Creek Gold Development
The Play
Completed a Definitive Feasibility Study for the 100%-owned Gum Creek Gold Project.
DFS outlines a 10-year open pit mine plan producing 880koz of recovered gold.
Production Target is predominantly underpinned by a maiden 728koz Probable Ore Reserve.
Study estimates pre-production capital of A$350m, pre-tax NPV5 of A$1,307m and IRR of 53.1%.
Approvals remain on track for a Final Investment Decision in Q2 2027.
The Pitch
Gum Creek hosts a 2.30Moz gold Mineral Resource inclusive of Ore Reserves.
Maiden Open Pit Ore Reserve totals 18.2Mt @ 1.24g/t Au for 728koz.
Production Target comprises 25.1Mt @ 1.19g/t Au containing 962koz of mined gold.
The study is based on free-milling open pit mining with a 2.4Mtpa processing plant.
Current DFS scope excludes underground mining opportunities and sulphide ore deposits.
The Next Overs
Complete the approvals pathway targeting Final Investment Decision in Q2 2027.
Progress detailed engineering and project execution activities.
Plant construction is expected to commence in Q4 2027, subject to required environmental approvals and project implementation activities.
Read full ASX Announcement here.
Great Boulder Resources (ASX:GBR)
High-Grade Gold Extends Beyond 1.02Moz Resource
The Play
Latest drilling extended high-grade gold mineralisation beyond the Mulga Bill–Eaglehawk Resource.
Mulga Bill East mineralisation expanded by more than 400m to approximately 900m of strike.
Drilling returned high-grade intersections including 18m @ 7.36g/t Au, 7m @ 14.5g/t Au and 6m @ 14.8g/t Au.
Eaglehawk drilling intersected mineralisation outside current resource envelopes.
Metallurgical drilling at Ironbark intersected 5.89m @ 18.1g/t Au from 122.8m.
The Pitch
Side Well hosts a 1.021Moz gold Mineral Resource across Indicated and Inferred categories.
Mulga Bill and Eaglehawk contain 782koz of the Side Well Mineral Resource.
The combined Mulga Bill–Eaglehawk deposit extends over 2.5km of strike.
Ironbark forms part of the Side Well Gold Project.
Great Boulder also holds the Peak Hill Gold Project with a 481koz gold Mineral Resource.
The Next Overs
Drilling continues at Side Well with diamond and AC rigs operating.
AC drilling is testing regional targets within the Eastern Corridor.
2 RC rigs continue drilling at Peak Hill with 40,000m planned this half-year.
Read full ASX Announcement here.
Meeka Metals (ASX:MEK)
High-Grade Gold Extends Below Turnberry Ore Reserve
The Play
Diamond drilling 200m below the Turnberry underground Ore Reserve intersected broad high-grade gold mineralisation.
Best result returned 52.3m @ 3.0g/t Au, including 30.6m @ 3.4g/t Au and 10.5m @ 3.7g/t Au.
Additional intersections returned 18.0m @ 3.0g/t Au and 13.8m @ 2.4g/t Au.
Drilling indicates stronger shearing associated with increased mineralisation width and gold grade at depth.
Diamond drilling has recommenced targeting strike and depth extensions to holes 26TBRD002 and 26TBRD004.
The Pitch
Turnberry hosts a 690koz gold Mineral Resource at 2.0g/t Au.
The reported intersections were drilled approximately 200m below the current underground Ore Reserve.
High-grade gold is associated with pyrite, chalcopyrite and strong shearing.
The mineralisation is interpreted as an intermediate-level expression of an orogenic gold system.
Turnberry forms part of the Murchison Gold Project.
The Next Overs
Continue diamond drilling targeting strike and depth extensions to holes 26TBRD002 and 26TBRD004.
Continue drilling down-plunge toward the interpreted deeper metal-rich zone.
Continue targeting the interpreted deeper metal-rich zone at Turnberry Central.
Read full ASX Announcement here.
TG Metals (ASX:TG6)
Profit-Share Agreement Opens Van Uden Processing Pathway
The Play
Executed a non-binding ore processing and profit share agreement covering approximately 60,000t of Van Uden gold-bearing stockpiles.
Medallion will recover, transport and process the stockpiles through the Cosmic Boy Concentrator.
Medallion will recover agreed operating costs before remaining pre-tax operating profit is shared equally between the parties.
TG Metals will receive provisional payments after each processing batch, with final reconciliation based on operating costs, metallurgical performance and gold sales.
Approvals to remove the stockpiles are already in place, allowing commencement once the agreement is finalised.
The Pitch
Van Uden hosts a 270,800oz gold Mineral Resource, with 56% classified as Indicated.
The stockpiles are not included in the current Van Uden Mineral Resource Estimate.
Van Uden is located approximately 70km from the Cosmic Boy Concentrator.
TG Metals remains responsible for applicable royalties under the proposed processing arrangement.
The company also holds the Lake Johnston Project, comprising gold and lithium assets in Western Australia.
The Next Overs
Ore deliveries and processing are expected following due diligence and required approvals.
Van Uden heap leach study is nearing completion.
Expansion drilling for additional laterite resources is scheduled to commence in Q3 2026.
Read full ASX Announcement here.
Nordic Resources (ASX:NNL)
Step-Out Drilling Extends Kopsa Beyond Resource Boundary
The Play
Three final Q2 2026 step-out holes intersected wide gold-copper mineralisation southwest of the Kopsa deposit.
All 3 holes, drilled 90–160m beyond previous drilling, returned more than 100m of semi-continuous mineralisation.
Results included 34m @ 1.05g/t AuEq, 60m @ 0.89g/t AuEq, 47m @ 0.85g/t AuEq and 40m @ 0.55g/t AuEq.
Drilling extended the mineralised zone more than 100m beyond the existing Kopsa Resource boundary in most places.
Q2 2026 drilling at Kopsa totalled 3,660m and is now complete.
The Pitch
Kopsa hosts an 815koz AuEq Mineral Resource across Measured, Indicated and Inferred categories.
69% of Kopsa AuEq ounces are classified as Measured and Indicated Resources.
The broader MOGB Gold Projects host a combined 1.23Moz AuEq Mineral Resource.
The Kopsa project is located within the Middle Ostrobothnia Gold Belt in central Finland.
The company held more than A$10M in cash at the end of March 2026.
The Next Overs
Kopsa metallurgical results are expected during Q3 2026.
Updated Kopsa Mineral Resource is planned after metallurgical results are received.
Drilling is scheduled to recommence within 2 weeks.
Read full ASX Announcement here.
Pilbara Gold (ASX:PGL)
Deeper Drilling Extends Mt York Gold Mineralisation
The Play
Initial 2026 drilling extended gold mineralisation below the current pit shell at Main Hill and Gossan Hill.
Main Hill returned 94m @ 0.88g/t Au, including 57m @ 1.00g/t Au and 9m @ 2.45g/t Au.
Additional Main Hill results included 6m @ 3.19g/t Au, including 3m @ 5.56g/t Au.
Gossan Hill returned 21m @ 1.42g/t Au, including 7m @ 3.54g/t Au, extending mineralisation at depth.
12,139m of the planned +50,000m drilling program has been completed.
The Pitch
Mt York hosts a 2.1Moz gold Mineral Resource across a 4.2km Banded Iron Formation.
The 2026 program comprises infill and extensional drilling across the Mt York deposit.
Current drilling targets extensions at depth and increased resource confidence ahead of a maiden Ore Reserve.
Five drill rigs are operating at Mt York, with a sixth rig due by the end of July.
A Mt York Mineral Resource Estimate update is expected in late CY2026.
The Next Overs
Continue the +50,000m infill and extensional drilling program at Mt York.
Analyse and report drill results as they are received.
Progress the Mt York Prefeasibility Study.
Read full ASX Announcement here.
Adavale Resources (ASX:ADD)
6 Near-Mine Gold Prospects Expand Drill Pipeline
The Play
Identified 6 additional drill-supported gold prospects through systematic review of historic drillhole data.
Historic drilling returned shallow high-grade gold intersections across Drapers, Nibblers Hill, Waterhouse, Somers and Armstrongs.
Compilation added 188 historic drillholes covering 11,529m to the drillhole database.
Prospects are located along strike and immediately adjacent to the London-Victoria Gold Mine.
Review reinforced London-Victoria's position within the consolidated Parkes Thrust gold system.
The Pitch
Parkes Thrust Project hosts a 166koz gold Mineral Resource based on historic data.
Current Mineral Resource excludes 88 Adavale drillholes completed to date.
Project comprises the Calarie Mining Licence and 10 granted exploration licences across 70km of contiguous strike.
Exploration tenure covers approximately 610km² within the Lachlan Fold Belt, New South Wales.
Adavale also holds the Kabanga Jirani Nickel Project comprising 11 granted licences in Tanzania.
The Next Overs
Brownfields drilling continues with 2 rigs operating at London-Victoria.
Comprehensive metallurgical test work will assess recoveries from core samples.
Updated Mineral Resource Estimate is scheduled for the September quarter.
Read full ASX Announcement here.
Rapid Critical Metals (ASX:RCM)
Ore Sorting Delivers High-Grade Silver Upgrades at Webbs
The Play
TOMRA completed first-pass XRT ore sorting test work on historical Webbs ore and waste stockpiles.
Historical ore upgraded from 565.2g/t Ag to 994g/t Ag with 98% silver recovery.
Historically processed waste upgraded from 164.6g/t Ag to 1,120g/t Ag after the first sorting pass.
Ore sorting achieved 44% mass rejection for historical ore and 94% for historically processed waste.
All tested samples recorded silver grade upgrades and mass reduction through XRT ore sorting.
The Pitch
Test work assessed historical unprocessed ore and historically processed waste stockpiles at the Webbs Silver Mine.
Two-stage XRT sorting produced concentrate, middlings and waste fractions.
Contrast-XRT targeted high-density sulphide minerals, while DE-XRT rejected base metal sulphides.
Silver concentrate grades approached or exceeded 1,000g/t Ag from the tested stockpile material.
The test work was completed by TOMRA Sorting Pty Ltd using representative stockpile samples.
The Next Overs
Undertake ore sorting test work on drill core recovered from the current resource drilling program.
Confirm the ore sorting results using spatially separated fresh samples.
Continue the current resource drilling program at Webbs.
Read full ASX Announcement here.
Black Canyon (ASX:BCA)
Pilot DMS Delivers 41.0% Mn Concentrate at Wandanya
The Play
Pilot-scale DMS beneficiation upgraded blended Wandanya feed to high-grade manganese concentrates.
Blend 1 upgraded from 32.4% Mn to 41.0% Mn with 82% Mn recovery.
Blend 2 upgraded from 29.4% Mn to 38.5% Mn with 80% Mn recovery.
Pilot-scale DMS confirmed high-grade manganese concentrates using 2.8g/cm³ dense media separation.
The completed metallurgical testwork will inform the upcoming Wandanya Scoping Study.
The Pitch
Pilot-scale DMS tested blended manganese composites from the 100%-owned Wandanya Project.
Two blended feed composites were prepared from low, medium and high-grade manganese composites.
Beneficiated concentrates recorded low penalty element concentrations following DMS processing.
The pilot-scale program follows staged heavy liquid separation testwork on Wandanya drill core composites.
The metallurgical program will inform the Scoping Study and complements the direct ship ore (DSO) strategy.
The Next Overs
Complete further metallurgical testwork to confirm and optimise preliminary DSO and DMS flow sheet designs.
Continue resource expansion drilling north and south of the Wandanya discovery.
Complete the maiden Mineral Resource Estimate targeted for September 2026, followed by the Scoping Study in Q4 2026.
Read full ASX Announcement here.
Strata Minerals (ASX:SMX)
Expanded Zelica Survey Advances District-Scale Targeting
The Play
Strata expanded the Zelica Gold Project through one tenement acquisition and one new tenement application.
A high-resolution aeromagnetic survey will shortly commence across the expanded Zelica Project.
The survey will cover approximately 27.8km² using 50m line spacing.
The survey will provide the first consistent high-resolution magnetic dataset across the expanded project area.
Survey data will be integrated with recent exploration datasets to refine and prioritise drill targets.
The Pitch
The Zelica Gold Project is 100%-owned and located in Western Australia's Yundamindra District.
The expanded project covers an interpreted 9.5km gold corridor.
MAGSPEC Surveys Pty Ltd has been engaged to complete the airborne aeromagnetic survey.
The expanded survey includes existing tenure together with E39/2491 and E39/2606.
Exploration is progressing alongside pre-development activities with BML Ventures.
The Next Overs
Complete the aeromagnetic survey across the expanded Zelica Project.
Integrate magnetic data with drilling, mapping and surface geochemical datasets.
Use the results to prioritise existing targets and identify additional exploration opportunities.
Read full ASX Announcement here.
Brookside Energy (ASX:BRK)
Sabres Well Advances Into Target Lateral Section
The Play
Completed intermediate casing, cementing and pressure testing at the Sabres well.
Drilling successfully landed the curve within the target Sycamore Formation.
The well is drilling the approximately 1.5-mile lateral section.
Latest drilling reached a measured depth of approximately 9,800 feet.
Sabres is the first well in the 2-well Suttles pad development program.
The Pitch
Brookside holds an approximate 70% working interest in both Suttles pad wells.
The Suttles pad is located within the SWISH Area of Interest in Oklahoma's Anadarko Basin.
The development comprises the Sabres and Whalers wells.
Sabres targets the Sycamore Formation.
Whalers is planned to target the Woodford Formation.
The Next Overs
Complete drilling of the Sabres lateral section.
Run and cement production casing after the lateral is completed.
Move the drilling rig across the Suttles pad to drill the Whalers well.