The Day's Play Edition 121: Commercial sales secured as rare earths and gold advance | VMM, GT3, TCG
THE COIN TOSS
VMM - Viridis Mining and Minerals delivered continuous mixed rare earth carbonate production with demonstration plant recoveries exceeding Pre-Feasibility Study recovery assumptions.
GT3 - Green360 Technologies secured its first binding commercial supply agreement with Holcim Australia for up to 4,800t of MKX-CC over an initial 12-month term.
TCG - Turaco Gold extended higher-grade gold mineralisation approximately 250m below the Woulo Woulo Mineral Resource with 100m @ 1.06g/t Au.
DXB - Dimerix Ltd secured U.S. patent protection for DMX-652 until 2043 for its Phase 2-ready asset.
REE - RareX Ltd advanced Cummins Range into commercial pathway evaluation following key de-risking milestones across heritage, licensing and metallurgy.
KAO - Kaoko Metals awarded the maiden drilling contract for its first 2,000-3,000m diamond drilling program at the Chalkos Copper-Silver Project.
M2R - Miramar Resources upgrades bedrock drill targets at the Joy Helen Prospect using auger results and gravity data.
TKM - Trek Metals validated IP targets after visual manganese was logged in 43 of 51 RC holes at Kuro.
G88 - Golden Mile Resources confirmed widespread copper-molybdenum mineralisation and defined a potential near-term drill target at the Leviathan Project.
KOB - Koba Resources returned rock chip tungsten assays up to 13.2% W and prioritised 6 Mt Garnet prospects for follow-up.
DAL - Dalaroo Metals confirmed interpreted sediment depths of up to approximately 50m and identified new sediment-filled valleys at Blue Lagoon.
Viridis Mining and Minerals (ASX:VMM)
Demonstration Plant Exceeds Pre-Feasibility Study Recovery Assumptions
THE PLAY
Demonstration Plant achieved steady-state continuous production of mixed rare earth carbonate.
July average recoveries reached 79% MREO and 64% TREO.
July MREO recoveries exceeded 80%, outperforming Pre-Feasibility Study recovery assumptions.
Continuous operation validated the Colossus process flowsheet under commercial-style operating conditions.
Mixed rare earth carbonate samples were produced to specification and shipped to Solvay.
THE PITCH
Colossus Demonstration Plant replicates the proposed commercial plant flowsheet.
Plant is designed to process 100kg/hr of clay feed.
Run-of-mine feed was sourced from the Northern Concessions.
Plant incorporates automated process controls, water and reagent recycle circuits, and an on-site laboratory.
Demonstration Plant generated operating data to support Definitive Feasibility Study process design and optimisation.
THE NEXT OVERS
Demonstration Plant optimisation will continue through additional process enhancements and operating initiatives.
Enhanced metallurgical recoveries will be incorporated into the Definitive Feasibility Study.
Additional mixed rare earth carbonate samples will be generated for product qualification with Solvay.
Read full ASX Announcement here.
Green360 Technologies (ASX:GT3)
First Binding Holcim Supply Agreement Secures Commercial Sales
THE PLAY
First binding commercial supply agreement was executed with Holcim Australia.
Agreement provides for supply of up to 4,800t of MKX-CC over an initial 12-month term.
Holcim becomes Green360's inaugural commercial customer for MKX.
Agreement formalises the previously announced Memorandum of Understanding with Holcim.
Agreement marks Green360's transition from product development to commercial sales.
THE PITCH
MKX-CC is Green360's proprietary low-carbon cement replacement product.
MKX is manufactured under the existing Toll Treatment Agreement with Calix.
Product will be supplied into Holcim's Victorian concrete operations.
Agreement is based on a fixed price per tonne with technical compliance standards.
MKX will be delivered to 5 Holcim batching plants in the Melbourne area.
THE NEXT OVERS
Commercial discussions with additional concrete producers will continue.
Scoping study is expected during Q4 2026.
Study will assess a dedicated commercial calcination facility adjacent to the Pittong operations.
Read full ASX Announcement here.
Turaco Gold (ASX:TCG)
Deep Drilling Extends Higher-Grade Gold Mineralisation At Woulo Woulo
THE PLAY
Initial deep drilling extended higher-grade gold mineralisation approximately 250m below previous drilling.
Hole WOUDD0244 returned 100m @ 1.06g/t Au from 495m.
Intercept included 36m @ 1.87g/t Au from 559m and 17m @ 2.96g/t Au from 577m.
WOUDD0242 and WOUDD0243 intersected mineralisation outside the interpreted target and returned 34m @ 1.29g/t Au and 33m @ 0.87g/t Au.
Three deep diamond drill holes tested higher-grade mineralisation beneath the current Woulo Woulo Mineral Resource.
THE PITCH
Woulo Woulo Deposit hosts a JORC Mineral Resource of 53.5Mt @ 1.0g/t Au for 1.7Moz.
Deposit extends approximately 3km along strike within the Afema Gold Project.
Higher-grade mineralisation is concentrated along the western margin of the deposit.
Geological modelling indicates deposit geometry changes at depth through a plunging flexure.
Initial deep drilling program comprised three diamond drill holes for 1,533m.
THE NEXT OVERS
Additional deep drilling is underway to better target the interpreted flexure.
Drilling will confirm continuity of higher-grade mineralisation at depth.
Drilling continues at the Adiopan, Anuiri and Begnopan deposits, with further results expected over the coming weeks.
Read full ASX Announcement here.
Dimerix Ltd (ASX:DXB)
U.S. Patent Extends DMX-652 Protection To 2043
THE PLAY
U.S. patent was granted for the Phase 2-ready asset DMX-652.
Composition of matter claims protect DMX-652 until 2043.
USPTO patent term adjustment extended protection by 2 years beyond the anticipated 2041 expiry.
Patent strengthens intellectual property protection for the recently acquired DMX-652 asset.
Preparations are underway for a Phase 2 trial in acute kidney injury associated with cardiac surgery.
THE PITCH
DMX-652 is a selective USP30 inhibitor designed to prevent kidney injury and promote mitophagy.
Asset was acquired with an existing open U.S. IND application.
Acquisition included an FDA-approved Phase 2 clinical trial protocol.
Acquisition also included GMP drug product and manufacturing methodology for the Phase 2 trial.
DMX-652 is an oral once-daily capsule.
THE NEXT OVERS
Phase 2 clinical trial preparations will continue.
Initial Phase 2 indication is acute kidney injury associated with cardiac surgery.
Additional patent claims will be pursued through a divisional application.
Read full ASX Announcement here.
RareX Ltd (ASX:REE)
Cummins Range Enters Commercial Evaluation Phase
THE PLAY
Cummins Range has entered a new phase focused on evaluating commercial development pathways.
Cummins Range has completed key de-risking milestones across heritage, licensing and metallurgy.
RareX is assessing commercial pathways, including potential strategic partnering opportunities.
RareX is advancing the Khaleesi and Piper exploration projects alongside project generation initiatives.
Consortium with Iluka Resources continues through the Kenyan Government's tender process for Mrima Hill.
THE PITCH
Cummins Range is an advanced rare earth and phosphate project.
RareX has built a diversified portfolio spanning project development, exploration, project generation and strategic partnerships.
Khaleesi and Piper are the Company's priority exploration projects.
RareX maintains material investments in Kincora Copper, EAU Lithium and Canada Rare Earth Corporation.
Mrima Hill is a proposed critical minerals project under consortium with Iluka Resources.
THE NEXT OVERS
Khaleesi drilling is expected to commence shortly across 5 priority targets.
Evaluate the next program of works and commercial pathways at Cummins Range.
Await the Kenyan Government's tender outcome for the proposed Mrima Hill Project.
Read full ASX Announcement here.
Kaoko Metals (ASX:KAO)
Chalkos Advances Into First Diamond Drilling Campaign
THE PLAY
Maiden drilling contract awarded for the Chalkos Copper-Silver Project.
Initial program comprises approximately 2,000-3,000m across Donkey Hill and Otniel.
Drilling will test outcropping copper mineralisation beneath and along strike.
Program will assess mineralisation depth, continuity and structural controls.
Optimine Exploration & Drilling Namibia appointed following a competitive tender.
THE PITCH
Chalkos Copper-Silver Project is located within Namibia's Kaoko Copper Belt.
Karibib Gold-Copper-Tungsten Project is located within Namibia's Damara Belt.
Company holds copper, silver, gold and tungsten exploration projects in Namibia.
Optimine provides diamond-core, reverse-circulation, underground and geotechnical drilling services.
Program follows surface mapping, sampling and structural interpretation at Chalkos.
THE NEXT OVERS
Optimine will mobilise personnel and drilling equipment to the Chalkos Project.
Diamond drilling will commence following final site and logistical preparations.
Drill-core samples will be progressively submitted for laboratory analysis.
Read full ASX Announcement here.
Miramar Resources (ASX:M2R)
Auger Results Upgrade Joy Helen Bedrock Drill Targets
THE PLAY
Auger results and gravity data refined proposed bedrock drill targets at Joy Helen.
Best auger result returned 3m @ 0.1% Cu and 0.84% Pb.
Coincident copper and lead anomalism was identified adjacent to residual gravity anomalies.
SEDEX metal and alteration indices outlined a large alteration halo northeast of known mineralisation at Joy Helen.
Additional target area was identified approximately 4km northwest of Joy Helen.
THE PITCH
Joy Helen is located within the 100%-owned Chain Pool Project in Western Australia's Gascoyne region.
Joy Helen contains high-grade copper-lead-silver mineralisation.
Reconnaissance program completed 116 auger holes across 10 east-west traverses.
Auger holes ranged from 1m to 11m with an average depth of 4m.
Samples were analysed for gold, SEDEX target elements and pathfinder elements.
THE NEXT OVERS
Passive seismic HVSR surveying is planned at Joy Helen.
First dedicated bedrock drilling campaign is planned.
Rock chip sampling, soil sampling, passive seismic traverses and a gravity survey are planned at the new target.
Read full ASX Announcement here.
Trek Metals (ASX:TKM)
IP Targeting Validated At Kuro
THE PLAY
IP-targeted RC drilling logged visual manganese in 43 of 51 additional drill holes.
Drilling validated IP chargeability anomalies as an effective method for targeting concealed manganese beneath shallow sand cover.
Best visual interval logged 15m of visual massive and semi-massive manganese from 11m down-hole.
Additional visual intervals included 14m, 11m, 10m and 8m of visual massive and semi-massive manganese.
Visual estimates are preliminary and laboratory assay results remain pending.
THE PITCH
Kuro is located within the 100%-owned Christmas Creek Manganese and Gold Project.
Current drilling targeted IP chargeability anomalies beneath shallow sand cover.
Representative drill samples are being routinely collected for laboratory analysis at ALS.
Drilling forms part of the maiden RC program at the Kuro manganese discovery.
IP surveying is being used to evaluate the broader interpreted prospective basin.
THE NEXT OVERS
First laboratory assay results are expected in the coming weeks.
Additional IP surveying will continue around the Kuro discovery area.
RC drilling will test the Coogan Copper-Gold target before returning to Kuro.
Read full ASX Announcement here.
Golden Mile Resources (ASX:G88)
First-Pass Sampling Defines Near-Term Leviathan Drill Target
THE PLAY
First-stage sampling confirmed widespread copper-molybdenum mineralisation across the Leviathan Project.
72% of rock chip samples returned copper or molybdenum assays exceeding 500ppm.
Sampling returned 18 rock chip samples exceeding 0.5% Cu or Mo, with highs of 3.91% Cu and 5.98% Mo.
Geological mapping identified a vein confluence supporting a potential near-term drill target.
The planned second-stage sampling programme is no longer required while the drill target is further evaluated.
THE PITCH
Leviathan is a hydrothermal copper-molybdenum project in Mohave County, Arizona, USA.
Golden Mile is earning up to a 95% interest through expenditure of A$3 million.
The Leviathan vein extends for around 800m with widths of up to 6m.
Recent sampling confirmed at least 5 additional sub-parallel copper-molybdenum mineralised vein systems.
The project is covered by patented claims requiring only 30 days' notification for drilling permits.
THE NEXT OVERS
Assess sampling results and develop potential drill targets.
Continue evaluating the potential drill target.
Progress exploration drilling following target evaluation and permitting.
Read full ASX Announcement here.
Koba Resources (ASX:KOB)
Initial Rock Chip Sampling Returns Tungsten Assays Up To 13.2% W
THE PLAY
Initial rock chip sampling returned tungsten assays up to 13.2% W.
Forty-four rock chip samples were collected across multiple Mt Garnet prospects.
Rock chip sampling returned additional tungsten assays up to 5.4% W and 5.0% W.
Rock chip sampling also returned tin assays up to 7.7% Sn and 6.0% Sn.
Results prioritised six tungsten prospects for immediate follow-up work.
THE PITCH
Mt Garnet Tin-Tungsten Project is located in Queensland.
Project comprises multiple tungsten and tin prospects at Mt Garnet.
Six priority tungsten prospects were identified from the reconnaissance program.
Maiden 3,000m drilling is underway at the Stannex and Gilmore Prospects.
Nineteen holes for 2,267m have been completed.
THE NEXT OVERS
Soil sampling, mapping and additional rock chip sampling will commence in August.
Follow-up work will prioritise targets for drill testing.
Drilling will continue at the Stannex and Gilmore Prospects.
Read full ASX Announcement here.
Dalaroo Metals (ASX:DAL)
Geophysical Survey Confirms Sediment Depths Up To 50m
THE PLAY
Independent GPR and SBES surveys were completed at the Blue Lagoon Rare Earth Project.
GPR identified sediment packages with interpreted depths up to approximately 50m.
Multiple sediment-filled valleys were identified beyond the current exploration footprint.
Twenty-one GPR survey lines were completed across five priority shoreline target areas.
Ten bathymetric survey lines delivered the first detailed model of the lagoon floor.
THE PITCH
Blue Lagoon Rare Earth Project is 100%-owned and located in southern Greenland.
Project is being explored as a sediment-hosted heavy mineral rare earth system.
Survey covered five priority shoreline target areas around Blue Lagoon.
Thickest sediment packages occur within Sites A, B and C, commonly ranging between 30m and 50m.
GPR and bathymetric surveys provided the first three-dimensional understanding of the sedimentary basin.
THE NEXT OVERS
GPR results will be integrated with geological mapping and assay results.
Mineralogical and metallurgical studies will be completed.
A three-dimensional geological model will be developed.