The Day's Play Edition 127: Rare earths surge, Sapphire expands and Northern Hinge advances | PNN, OBM, PRM
THE COIN TOSS
PNN - Power Minerals extended high-grade rare earth mineralisation to 116m, with its maiden drill hole returning 116m at 4.78% TREO from surface, including 31m at 10.0% TREO.
OBM - Ora Banda Mining expanded the Sapphire lodes to more than 2.6km of strike, defining multiple parallel lodes with mineralisation open along strike and at depth.
PRM - Prominence Energy finalised a Native Title agreement advancing the award of almost 20,000km² of Northern Hinge acreage.
OMA - Omega Oil & Gas commenced Canyon-3 drilling, launching its fully funded 2026/27 appraisal program.
ASN - Anson Resources validated the Green River downstream process flowsheet after non-thermal test work exceeded original design expectations.
QML - QMines commenced the first drilling beneath the Mt Chalmers open pit, targeting resource growth and Ore Reserve conversion.
AKN - AuKing Mining completed 4,300m of RC drilling and commenced diamond drilling, with carbonatite confirmed in 28 of 31 drill holes.
HRE - Heavy Rare Earths commenced a strategic collaboration with ANSTO Minerals to assess Radium Hill critical minerals.
AI1 - Adisyn secured a 2nd US patent allowance protecting graphene-coated products independent of manufacturing method.
Power Minerals (ASX:PNN)
Maiden Drill Hole Extends High-Grade Rare Earth Mineralisation
THE PLAY
The first drill hole intersected 116m at 4.78% TREO from surface, including 31m at 10.0% TREO from 14m.
Drilling extended high-grade rare earth mineralisation from the previously known 71m to 116m downhole.
The first drill hole returned TREO values of up to 18.12% and MREO values of up to 3.66%.
MFSR-051 intersected high-grade gallium mineralisation to end of hole.
The first drill hole successfully verified previous drilling results.
THE PITCH
The Morro do Ferro Project is located in Minas Gerais, Brazil.
The current drilling program comprises approximately 25 diamond drill holes for about 4,000m, plus 800m of PQ diamond drilling for metallurgical testwork.
The drilling program targets the depth and expansion of existing high-grade mineralisation.
The project hosts magnet rare earth mineralisation, including Nd, Pr, Dy and Tb.
Power holds both mining and surface landowner rights to the Manifestos de Mina.
THE NEXT OVERS
Drilling will continue, with a second drill rig scheduled to commence.
Results from additional drill holes and laboratory geochemical assays will be released as they become available.
Results from MFSR-051 will be incorporated into the planned maiden Mineral Resource Estimate, currently anticipated before the end of the year.
Read full ASX Announcement here.
Ora Banda Mining (ASX:OBM)
Sapphire Lode Expansion Extends Mineralised Footprint
THE PLAY
Drilling expanded Sapphire lodes to more than 2.6km of strike, defining multiple parallel lodes.
Recent drilling returned additional high-grade intercepts from the Sapphire and Gem lodes.
Gem lodes are defined over more than 4.7km of strike.
Mineralisation remains open along strike and at depth across both lode systems.
More than 360 drill holes have been completed across Little Gem and Sunraysia.
THE PITCH
Little Gem hosts the Gem and Sapphire lode systems.
Sapphire lodes comprise multiple parallel lodes extending more than 2.6km.
Gem lodes are defined over more than 4.7km of strike and approximately 750m below surface.
Sapphire lodes are hosted in carbonate lenses within sedimentary host rocks.
Sapphire drilling has focused on near-surface mineralisation to approximately 200m vertical depth.
THE NEXT OVERS
Drilling at the Little Gem Prospect is ongoing.
Maiden Mineral Resource Estimate remains on track for late CY2026.
Exploration remains focused on mineralisation open along strike and at depth.
Read full ASX Announcement here.
Prominence Energy (ASX:PRM)
Native Title Agreement Advances Northern Hinge Award
THE PLAY
Prominence's subsidiaries have finalised negotiations and are ready to execute an Indigenous Land Use Agreement with the Arabana Aboriginal Corporation.
The agreement is a major milestone towards the award of 19,888.84km² across PELAs 566, 581, 752 and 753.
The agreement addresses a key prerequisite to the award of the four licence applications.
The agreement materially de-risks the pathway to licence grant.
The milestone advances the award of the Northern Hinge licence applications.
THE PITCH
The Northern Hinge licence applications cover 19,888.84km² within the Gawler Helium and Natural Hydrogen Project.
The ILUA is between the Arabana Aboriginal Corporation and Prominence's wholly owned subsidiaries.
The Northern Hinge Project forms part of Prominence's South Australian helium and natural hydrogen portfolio.
Licence award remains subject to execution of the ILUA, completion of applicable government processes and final approval by the South Australian Government.
The Northern Hinge licences would expand Prominence's South Australian portfolio once granted.
THE NEXT OVERS
The subsidiaries will progress the licence applications through the remaining approval and award processes.
The Northern Hinge Prospective Resources Review is targeted for completion by the end of September 2026.
Drilling remains targeted for June/July 2027, subject to licence awards, technical outcomes, funding, and regulatory and operational approvals.
Read full ASX Announcement here.
Omega Oil & Gas (ASX:OMA)
Canyon-3 Drilling Starts Fully Funded Appraisal Program
THE PLAY
Drilling commenced at Canyon-3, the first well in the fully funded 2026/27 appraisal program.
The program will initially drill 4 vertical appraisal wells.
Canyon-3 will evaluate the Canyon Sandstone and other stacked Permian reservoir intervals.
The program targets the Permian unconventional oil and gas play across the eastern Taroom Trough acreage.
Land access has been secured for the first well location in ATP 2081.
THE PITCH
Omega's 100%-owned Canyon Project is located on the eastern flank of the Taroom Trough.
The appraisal program comprises 4 vertical wells followed by 1 or 2 horizontal wells up to 2,000m.
The program uses the H&P FlexRig® 648, designed for long-reach horizontal drilling.
Canyon-3 is located 10km southeast of the Canyon-1H well.
Previous drilling identified 5 stacked hydrocarbon-bearing Permian reservoir layers.
THE NEXT OVERS
Lease pad construction for the first well location in ATP 2081 is underway.
Canyon-3 drilling results are expected in late August 2026.
Results from the remaining 3 vertical wells are expected at approximately one-month intervals.
Read full ASX Announcement here.
Anson Resources (ASX:ASN)
Downstream Test Work Validates Process Flowsheet
THE PLAY
JordProxa completed the first phase of downstream non-thermal processing test work.
The test work validated the proposed downstream process flowsheet and exceeded the original design expectations.
The downstream process is being incorporated into the Green River Definitive Feasibility Study.
Thermal downstream test work is ahead of schedule.
The completed test work represents another milestone in de-risking the Green River Project.
THE PITCH
The Green River Project combines Direct Lithium Extraction with a downstream lithium carbonate refinery.
The downstream process converts lithium chloride eluate into battery-grade lithium carbonate.
JordProxa's engineering formed the basis of the downstream process incorporated into the Scoping Study.
JordProxa has worked with Anson since June 2025 to develop and optimise the downstream process flowsheet.
The downstream refinery incorporates membrane separation, ion exchange and thermal processing technologies.
THE NEXT OVERS
Thermal evaporation, carbonation crystallisation and refining test work is expected to be completed in Q3 2026.
JordProxa will continue engineering work through the Definitive Feasibility Study.
Anson will continue discussions with potential strategic funding partners.
Read full ASX Announcement here.
QMines (ASX:QML)
First-Ever Beneath-Pit Drilling Commences
THE PLAY
Drilling has commenced beneath the historic Mt Chalmers open pit for the first time.
The program will test extensions to the deposit, which remains open along strike and at depth.
The program targets resource growth and conversion of existing Inferred Mineral Resources into Ore Reserves.
The first drill core has already been recovered.
The drilling program forms part of the Mt Chalmers Definitive Feasibility Study.
THE PITCH
Mt Chalmers is QMines' flagship copper-gold project.
The company is undertaking a 10,000m drilling campaign at Mt Chalmers.
A purpose-built floating drilling platform enables drilling beneath the flooded historic open pit.
The deposit remains open below the existing mine workings.
The program is designed to improve confidence in existing Inferred Mineral Resources using modern diamond drilling and QAQC procedures.
THE NEXT OVERS
Drilling beneath the historic open pit will continue before the rig transitions to the Woods Shaft deposit.
The Woods Shaft drilling program will target extensions to known copper-gold mineralisation and resource growth.
A strong pipeline of drilling news flow is expected over the coming months.
Read full ASX Announcement here.
AuKing Mining (ASX:AKN)
Diamond Drilling Commences at Tundulu
THE PLAY
The 4,300m reverse circulation drilling program has been completed across 31 holes.
Carbonatite intersections have been confirmed in 28 of the 31 RC drill holes, further validating the interpreted Tundulu geological model.
Diamond drilling has commenced to test the depth continuity of the interpreted carbonatite system.
Up to 10,000m of diamond drilling is planned for the remainder of the year.
Export permits have been obtained for 2,992 RC drill samples, with assays from the first four drill holes anticipated in the near term.
THE PITCH
The Tundulu Rare Earths Project is located in southern Malawi.
The maiden drilling program comprises a proposed 15,000m of RC and diamond drilling.
Diamond drilling will comprise surface drill holes and diamond tails extending selected RC drill holes.
The diamond drilling program will test the interpreted carbonatite system beneath Nathace Hill, Tundulu East and Kamilala Hill.
Diamond core will support preliminary metallurgical and mineralogical testwork.
THE NEXT OVERS
Diamond drilling will continue to test the depth extent of the interpreted carbonatite system.
Additional RC drill samples will progress through the export approval process.
Initial assay results from the first four drill holes are anticipated in the near term.
Read full ASX Announcement here.
Heavy Rare Earths (ASX:HRE)
ANSTO Collaboration Advances Radium Hill Assessment
THE PLAY
Strategic collaboration with ANSTO Minerals has commenced at the Radium Hill Project.
Research will assess the mineralogy and leaching properties of Radium Hill samples.
Initial work focuses on rare earths and other critical minerals from the 8km corridor.
An additional 100kg sample has been sourced for concentrate and detailed metallurgical work.
The collaboration opens the opportunity for ANSTO Minerals to assist with the Subron Rare Earths Project.
THE PITCH
Radium Hill is located 90km southwest of Broken Hill in the Curnamona Province.
The project comprises 55km² of tenure, including the 8km Critical Minerals Corridor.
The corridor is prospective for uranium, scandium, rare earth elements, yttrium and vanadium.
HRE holds mineral rights covering all minerals at the Radium Hill Project.
ANSTO Minerals provides consulting, technology development and pilot-scale deployment technical services to the resources sector.
THE NEXT OVERS
Concentrate and detailed metallurgical work will follow assessment of the initial test work.
HRE has submitted a Radiation Management Plan and PEPR in preparation for its maiden drill program at Radium Hill.
HRE is evaluating the option of ANSTO collaboration for the Subron Rare Earths Project.
Read full ASX Announcement here.
Adisyn (ASX:AI1)
2nd US Patent Expands Product Protection
THE PLAY
A 2nd US patent application has been allowed by the USPTO.
The patent protects graphene-coated products with defined physical characteristics.
Protection applies irrespective of the manufacturing method used.
The allowance complements Adisyn's previously announced US patent allowance.
The patent application is jointly held by 2D Generation and its research partner.
THE PITCH
The patent covers graphene-coated three-dimensional surfaces with uniform, conformal coatings.
Claims include interconnects defined by specified physical properties.
Claims cover graphene coatings free of nitrogen doping, FeCl₃ residuals and metal catalyst nanoparticles.
The patent protects graphene-coated products relevant to Adisyn's semiconductor technology.
The application is jointly owned by Adisyn's wholly owned subsidiary 2D Generation and its research partner.
THE NEXT OVERS
Adisyn will continue advancing commercialisation of its graphene technology.
The company is progressing engagement with potential partners and customers.
Adisyn is evaluating additional patent filings in relevant jurisdictions.