The Day's Play Edition 122: Gold discovery leads, oxide system expands | UM1, 49M, REE
THE COIN TOSS
UM1 - Unity Metals intersected 40 m @ 1.9 g/t gold, including 5 m @ 10.5 g/t gold, in the first O'Phlay drill hole.
49M - 49 Metals expanded the Gold Mountain oxide gold system with 64.0 m @ 1.0 g/t gold, including 13.7 m @ 1.9 g/t gold.
REE - RareX–Iluka Consortium advanced to the Request for Proposal stage for the Mrima Hill Niobium and Rare Earths Project in Kenya.
STN - Saturn Metals secured 3 exploration licences providing access for follow-up drilling across a 26.5 km drill-defined gold trend.
PAT - Patriot Resources defined 2 new copper drill targets, extending its Zambia exploration footprint by 5.5 km.
IPT - Impact Minerals completed the first C4V technical milestone at Alluminous, advancing the program to battery architecture development and electrochemical validation.
OM1 - Omnia Metals defined priority REE and niobium target areas at Radix from maiden geochemical sampling.
PRM - Prominence Energy defined a staged work program leading to planned mid-2027 helium and natural hydrogen drilling across its South Australian portfolio.
Unity Metals (ASX:UM1)
First O’Phlay Drill Hole Intersects Broad Gold Mineralisation
THE PLAY
First O’Phlay drill hole intersected 40 m @ 1.9 g/t gold, including 5 m @ 10.5 g/t gold.
Drilling also intersected 8.5 m @ 0.7 g/t gold from 129.5 m.
Mineralised veins extend from surface and remain open at depth and along strike.
Gold mineralisation is hosted within quartz-arsenopyrite veins in diorite.
Results are from the first hole of the planned 3,000 m, 21-hole diamond drilling program.
THE PITCH
O’Phlay is a gold project in Mondulkiri Province, eastern Cambodia.
Camp Prospect targets diorite-hosted gold-bearing veins associated with Gradient Array Induced Polarisation anomalies.
The initial drilling program comprises 21 planned diamond drill holes over 3,000 m.
Four drill holes have been completed for 570.6 m.
Assays have been received for 26DDCM001 only.
THE NEXT OVERS
Assays are pending for drill holes 26DDCM002 to 26DDCM004.
The company plans to extend the drilling program to test mineralisation at depth and along strike.
Further assay results are expected in the coming weeks.
Read full ASX Announcement here.
49 Metals (ASX:49M)
Broad Oxide Gold Intercept Expands Adit Zone Gold System
THE PLAY
Hole DRC#16 returned 64.0 m @ 1.0 g/t gold, including 13.7 m @ 1.9 g/t gold.
Hole DRC#15 returned 15.2 m @ 1.5 g/t gold from 4.6 m, including 6.1 m @ 3.2 g/t gold.
DRC#16 confirms a broader oxide gold envelope surrounding the interpreted high-grade feeder corridor.
Mineralisation remains open in all directions.
Assays have been received for DRC#15 and partial results for DRC#16.
THE PITCH
Gold Mountain is located within the Walker Lane trend in Nevada, USA.
The maiden RC drilling program comprises 22 holes for approximately 7,500 m.
The Adit Zone hosts a structurally controlled high-grade feeder corridor within a broader oxide gold envelope.
Reported intercepts are downhole lengths and true widths have not yet been determined.
49 Metals is focused on the exploration and development of gold assets in Nevada, USA.
THE NEXT OVERS
Assays remain pending for 6 additional drill holes and the upper 120 m of DRC#16.
The company will validate and interpret the remaining assay results.
The company will prioritise follow-up drilling targets in Q4 CY2026.
Read full ASX Announcement here.
RareX (ASX:REE)
Consortium Advances To Request For Proposal Stage
THE PLAY
The RareX–Iluka Consortium has advanced to the Request for Proposal stage.
Kenya's Ministry of Mining formally shortlisted the Consortium following the Expression of Interest stage.
The Consortium will prepare its Request for Proposal submission under the issued Terms of Reference and evaluation criteria.
A binding Rare Earths and Mineral Sands Offtake Term Sheet is in place with Iluka.
The proposed development strategy focuses on mining, initial processing and local value creation in Kenya.
THE PITCH
RareX is the lead member of the RareX–Iluka Consortium under the Bidding Consortium Agreement.
The proposal is underpinned by Iluka's Eneabba Rare Earths Refinery in Western Australia.
The Eneabba Rare Earths Refinery is due for commissioning in 2027.
The refinery is supported by an A$1.65 billion Australian Government non-recourse loan.
The offtake term sheet covers all Mrima Hill rare earths concentrate for refining at Eneabba.
THE NEXT OVERS
The Consortium will prepare its Request for Proposal submission.
RareX will continue working with Iluka and its advisers throughout the procurement process.
The company will keep the market informed of material developments in accordance with its continuous disclosure obligations.
Read full ASX Announcement here.
Saturn Metals (ASX:STN)
Aquarius Exploration Licences Granted For Follow-Up Drilling
THE PLAY
Three exploration licences have been granted at the Aquarius Gold Prospect.
The grants provide access for follow-up drilling across a 26.5 km drill-defined gold trend.
New Exploration Licence E39/2439 covers 135 km² immediately south of the Aquarius Gold Prospect.
The granted licences adjoin Saturn's existing regional land package in the Leonora region.
The licence grants follow the recent grant of Mining Lease 31/496 covering the proposed Apollo Hill mine development.
THE PITCH
Aquarius is located approximately 30 km south-east of the Apollo Hill Gold Project.
The Aquarius gold trend extends over 26.5 km of drill-defined mineralisation.
The newly granted licences comprise E31/1340, E31/1394 and E39/2439.
Exploration Licence E39/2439 covers ground previously explored by Sumitomo Metal Mining Oceania.
The Aquarius gold trend sits between the Apollo Hill Mineral Resource and Northern Star's Carosue Dam operations.
THE NEXT OVERS
The company is developing drilling programs for the coming months.
Follow-up drilling is planned at the Aquarius Gold Prospect.
The company has consolidated its geological interpretation of the Aquarius area.
Read full ASX Announcement here.
Patriot Resources (ASX:PAT)
Two New Copper Drill Targets Extend Zambia Exploration Footprint
THE PLAY
Ground magnetics and IP surveys extended the prospective footprint 5.5 km southeast of Tonic.
Blocks 1 and 2 define 2 new high-priority copper drill targets.
The targets combine coincident geophysical, mapping, alteration and structural features.
Both targets show hydrothermal alteration associated with intrusive granite-syenite and host sediments.
Results support interpretation of a broader multi-centre copper system, subject to drill testing.
THE PITCH
The targets are within Patriot's 100%-owned Licence 27715-HQ-LEL in Mumbwa, Zambia.
Block 1 is interpreted as a syenite-hosted target with coincident IP and magnetic anomalies.
Block 2 is interpreted as a syenite-sandstone/shale target with iron-rich alteration and quartz-carbonate veining.
Ground magnetics defined magnetic lineaments while IP identified coincident chargeability and resistivity anomalies.
The prospective geophysical corridor extends approximately 5.5 km southeast from Tonic.
THE NEXT OVERS
Block 1 and Block 2 are planned for follow-up drill testing.
Further work will assess the interpreted multi-centre copper system extending southeast from Tonic.
Exploration activities will be staged alongside Phase 2 drilling at Tonic.
Read full ASX Announcement here.
Impact Minerals (ASX:IPT)
First C4V Technical Milestone Completed
THE PLAY
Alluminous completed the first technical milestone under its collaboration with C4V.
High Purity Alumina met battery separator coating particle-size specifications using C4V's particle-engineering process.
Independent test work confirmed the engineered material retained its purity throughout particle engineering.
A stable, sodium-free, water-based slurry was prepared for battery separator coating evaluation.
The program will progress to battery architecture development and electrochemical validation.
THE PITCH
Alluminous is a 50%-owned associated company of Impact Minerals.
The collaboration is with New York-based battery technology company Charge CCCV LLC (C4V).
The milestone completed the particle engineering phase of C4V's qualification program.
The engineered material is intended for advanced lithium-ion battery separator coatings.
The Collaboration Agreement includes support for commercial opportunities as the program progresses through battery validation.
THE NEXT OVERS
The next phase will optimise separator coating formulations.
Coated separator materials will be manufactured for electrochemical evaluation within lithium-ion battery cells.
Commercial engagement with C4V and potential downstream partners will continue.
Read full ASX Announcement here.
Omnia Metals Group (ASX:OM1)
Maiden Geochemical Results Define Priority REE And Niobium Target Areas
THE PLAY
Maiden geochemical sampling identified priority REE and niobium target areas at Radix.
Rock sample R017 returned the program-high 209 ppm niobium result.
Sediment sample PN0001175837 returned 560.43 ppm TREE + Y, 146.50 ppm Nd + Pr and 142.68 ppm HREE + Y.
Results support the REE-niobium targeting model developed during the Phase 1 study.
First-pass drainage sediments at Stibnite Ridge returned up to 16.0 ppm antimony.
THE PITCH
Radix comprises an 80-claim landholding in Ravalli County, Montana.
The program analysed 81 samples comprising 45 drainage sediments and 36 rock samples.
Stibnite Ridge currently comprises 28 unpatented lode mining claims.
Results are reconnaissance-scale and intended for target generation.
No Mineral Resource or Ore Reserve has been estimated.
THE NEXT OVERS
The company will prioritise drainage catchments and rock occurrences with coincident REE and niobium responses.
Representative resampling, mapping and mineralogical studies are planned at the R017 niobium anomaly.
The company will assess targeted soil sampling, detailed mapping or ground geophysics before any drilling decision.
Read full ASX Announcement here.
Prominence Energy (ASX:PRM)
Staged Work Program Defines Mid-2027 Drilling Pathway
THE PLAY
A staged work program has been defined ahead of planned mid-2027 drilling.
July work focuses on gravity and magnetic data inversion and interpretation.
Independent Prospective Resources Reviews are planned for the Eyre and Northern Hinge projects.
Updated drilling engineering and cost work is planned for October.
The 2026 work program, including drill planning, is funded from the existing cash position.
THE PITCH
The South Australian portfolio covers approximately 64,000 km².
The Eyre and Northern Hinge projects are the company's two major project areas.
Target definition combines gravity, magnetic, geological, geochemical, laboratory and satellite datasets.
Preliminary costings suggest up to 3 exploration wells, or 2 wells plus seismic, for approximately $5m.
The company has defined a staged exploration program leading to planned mid-2027 drilling.
THE NEXT OVERS
Prospective Resources Reviews are targeted for completion by the end of August and September 2026.
A revised drilling engineering and cost review is planned for October.
Detailed planning of the 2027 drilling program is scheduled for November and December.
Read full ASX Announcement here.
