The Day's Play Edition 128: Gum Creek grows, Arcadia acquired and Butcherbird secured | HRN, YAR, E25
THE COIN TOSS
HRN - Horizon Gold returned broad high-grade RC gold intercepts across Kingfisher, Hawk and Swan, extending mineralisation across multiple Gum Creek prospects.
YAR - Yari Resources agreed to acquire the Arcadia Coal Project, adding a 282Mt JORC Mineral Resource and effectively doubling its Rolleston coal resource base.
KZR - Kalamazoo Resources returned multiple high-grade gold intersections from Mt Olympus Resource Definition drilling, including 36m @ 16g/t Au and 74m @ 4.1g/t Au.
E25 - Element 25 secured a binding take-or-pay offtake covering 100% of Butcherbird manganese concentrate production, subject to HPMSM feedstock carve-outs.
CZN - Corazon Mining secured strategic tenure and gold rights across 170km², expanding its Chalice Gold Project footprint over 40km of prospective greenstone strike.
OLY - Olympio Metals returned first Phase 3 Bousquet gold assays, including 5.0m @ 4.54g/t Au, confirming the interpreted strike orientation at Paquin.
BTR - Brightstar Resources intersected 305.4m @ 1.82g/t Au as extensional drilling expanded the interpreted thickness of the Two Mile Hill tonalite beyond previous geological interpretations.
FAL - Falcon Metals extended Blue Moon gold mineralisation beyond 850m of strike as high-grade drilling strengthened the Jasmine and Lotus zones.
KM1 - Kali Metals identified a 1.7km tin-tungsten mineralised vein system with rock-chip assays returning up to 6.00% SnO₂ and 0.38% WO₃.
E79 - E79 Gold Mines executed a Heritage Protection Agreement, advancing its planned 10,000m maiden drilling program at the Cue Gold Project.
SMM - Somerset Minerals confirmed widespread high-grade copper mineralisation across multiple Coppermine prospects with rock-chip assays returning up to 46.3% Cu and 214g/t Ag.
Horizon Gold (ASX:HRN)
Broad High-Grade RC Results Across Gum Creek Prospects
The Play
Kingfisher RC drilling returned 23m @ 5.26g/t Au, including 15m @ 7.65g/t Au.
Kingfisher drilling confirmed mineralisation continuity and highlighted potential for northern resource expansion.
Hawk drilling extended known gold mineralisation down dip and down plunge to the north.
Swan drilling extended gold mineralisation north of the current resource model.
Broad high-grade RC results were returned from Kingfisher, Hawk and Swan.
The Pitch
Gum Creek Gold Project is 100%-owned and located in Western Australia's Mid-West Region.
The project hosts a Mineral Resource Estimate of 37.97Mt @ 1.89g/t Au for 2.30Moz.
Kingfisher hosts open pit and underground Mineral Resources totalling 192.4koz Au.
Hawk hosts a Mineral Resource Estimate of 0.76Mt @ 1.35g/t Au for 33.0koz Au.
Swan hosts open pit and underground Mineral Resources totalling 649.3koz Au.
The Next Overs
Follow-up RC and diamond drilling is planned at Kingfisher, Hawk and Swan.
RC and diamond drilling will continue across the Gum Creek Project area.
Mineral Resource Estimate updates are planned for Kingfisher, Hawk and Swan later in 2026.
Read full ASX Announcement here.
Yari Resources (ASX:YAR)
Arcadia Acquisition Doubles Rolleston Coal Resource Base
The Play
Binding agreement executed to acquire the Arcadia Coal Project in the Bowen Basin.
The acquisition adds a reported 282Mt JORC 2012 Mineral Resource at EPC 1772.
The transaction will effectively double Yari's coal Mineral Resource to more than 500Mt.
The acquisition includes 100% of Northern Comet Resources Company and its Arcadia tenements.
Yari received firm commitments to raise $2.2M through a placement supporting the acquisition.
The Pitch
Arcadia Coal Project comprises EPC 1772, EPC 1054 and EPC 1042 in Queensland's Bowen Basin.
EPC 1772 hosts a reported JORC 2012 Mineral Resource of 282Mt comprising 164Mt Indicated and 118Mt Inferred.
Arcadia is regionally proximate to, but separate from, the Rolleston South Coal Project.
The transaction features low upfront consideration, milestone payments, success payments and a 1.5% gross revenue royalty.
Rolleston South and Arcadia form a complementary district-scale position within the Rolleston coal district.
The Next Overs
Completion remains subject to shareholder, regulatory and other conditions precedent.
Shareholder approval will be sought at an Extraordinary General Meeting.
Following completion, Yari will advance the technical review of the Arcadia Coal Project as part of its Rolleston district strategy.
Read full ASX Announcement here.
Kalamazoo Resources (ASX:KZR)
High-Grade Gold Results Strengthen Resource Definition Program
The Play
High-grade drilling returned 36m @ 16g/t Au, including 10m @ 49g/t Au.
A second high-grade intersection returned 74m @ 4.1g/t Au, including 17m @ 8.3g/t Au.
20 drill holes returned 15 intersections exceeding 50 gram-metres, including five above 100 gram-metres.
Drilling intersected mineralisation within and beyond the current Mineral Resource model.
Results include multiple high-grade quartz veins interpreted as feeder structures.
The Pitch
Ashburton Gold Project is a 100% owned gold project in Western Australia's Pilbara.
Resource Definition drilling reduced drill spacing to approximately 20m × 20m across key areas.
Assays have been received from 43 of the completed 72 Resource Definition drill holes.
Mineralisation includes broad high-grade zones and structurally controlled quartz vein feeder systems.
Resource Definition drilling increased geological confidence across the existing Mt Olympus open pit resource.
The Next Overs
Updated Mt Olympus Mineral Resource Estimate targeted for Q4 2026.
Ashburton Pre-Feasibility Study targeted for Q1 2027.
Underground Growth drilling is underway beneath Mt Olympus and at Peake.
Read full ASX Announcement here.
Element 25 (ASX:E25)
Binding Offtake Secures Butcherbird Sales Pathway
The Play
Binding take-or-pay offtake agreement executed for Butcherbird manganese concentrate production.
The agreement covers 100% of manganese concentrate production, subject to HPMSM feedstock carve-outs.
The initial term is 5 years, with an option to extend for a further 5 years.
Market-linked pricing and staged payment arrangements establish a long-term sales pathway.
The agreement is subject to board approval, project financing and regulatory approvals.
The Pitch
Butcherbird Expansion Project targets 1.1Mtpa of manganese concentrate production.
OM Materials will purchase 100% of production, capped at approximately 1.1Mtpa.
The agreement includes take-or-pay obligations supporting contracted volumes.
OM Materials receives exclusive global marketing rights, subject to specified carve-outs.
The agreement preserves manganese concentrate for planned HPMSM feedstock requirements.
The Next Overs
Satisfy remaining conditions precedent, including board approval, project financing and regulatory approvals.
Mechanical completion and commissioning of the Butcherbird Expansion Project is targeted in Q1 CY2027.
First shipment will commence the initial 5-year offtake term.
Read full ASX Announcement here.
Corazon Mining (ASX:CZN)
Strategic Tenure Acquisition Expands Chalice Gold Footprint
The Play
Binding agreement secures strategic tenure and gold rights across 170km² adjoining Chalice.
The acquisition includes 100% ownership of E15/1802 and gold rights over two adjoining tenements.
The transaction expands Corazon's footprint across 40km of prospective greenstone strike.
Acquired tenure hosts undrilled structural and geochemical targets within the Chalice mineralised sequence.
Validation of historical data is underway to support follow-up exploration planning.
The Pitch
Chalice Gold Project hosts a JORC Mineral Resource of 191koz @ 2.7g/t Au.
The acquisition covers tenure immediately north and south of the Chalice Gold Project.
The consolidated tenure spans the same mineralised mafic-ultramafic greenstone sequence as the Chalice deposit.
Lithium and other mineral rights remain excluded from the acquisition.
Phase 1 resource growth drilling at Chalice is targeted to commence in Q3 CY2026.
The Next Overs
Complete outstanding conditions precedent ahead of completion targeted within 60 days.
Progress geological mapping, geochemical sampling and geophysical surveys, prioritising the southern corridor.
Advance Phase 1 resource growth drilling at Chalice incorporating newly identified targets.
Read full ASX Announcement here.
Olympio Metals (ASX:OLY)
First Phase 3 Assays Deliver High-Grade Gold at Bousquet
The Play
First Phase 3 assays returned 5.0m @ 4.54g/t Au, including 0.75m @ 24.3g/t Au.
The first drill hole confirmed the interpreted 300° strike orientation of the main lode.
Televiewer surveys delivered more than 6,000 structural readings across 11 drill holes.
Phase 3 drilling comprised five diamond drill holes totalling 1,428m.
Olympio Metals received the first assays from the five-hole Phase 3 program.
The Pitch
Bousquet Gold Project is located on the Cadillac Break in Quebec, Canada.
Olympio Metals has earned a 51% interest in the Bousquet Gold Project.
Bullion Gold Resources retains a 20% undivided net carried interest in the project.
Phase 3 drilling targeted the Paquin prospect.
The program was designed to test strike orientation and lateral continuity.
The Next Overs
Surface geochemical sampling will recommence to generate additional drilling targets.
Assays from the remaining four Phase 3 drill holes are expected in the coming weeks.
Televiewer data will be assessed with pending assay results to refine the geological model.
Read full ASX Announcement here.
Brightstar Resources (ASX:BTR)
Extensional Drilling Expands Mineralised Tonalite at Two Mile Hill
The Play
Deep extensional drilling returned 305.4m @ 1.82g/t Au from 351.9m.
Drilling increased the interpreted tonalite thickness to more than 180m horizontally.
The drill hole ended in mineralised tonalite beyond the previous geological interpretation.
Infill drilling returned broad unconstrained intercepts, including 205m @ 2.67g/t Au.
Additional high-grade intercepts were returned from adjacent BIF and basalt units.
The Pitch
Two Mile Hill-Shillington is part of the 2.9Moz @ 1.3g/t Au Sandstone Gold Project.
The deposit hosts a Mineral Resource Estimate of 14.6Mt @ 1.6g/t Au for 731koz Au.
Gold mineralisation occurs within the tonalite, surrounding basalts, BIF and lateritic profile.
The current drilling program comprises resource infill and deep extensional drilling.
An underground mining pre-feasibility study is underway at Two Mile Hill.
The Next Overs
Further drilling is planned to delineate the expanded tonalite intrusion.
An updated Mineral Resource Estimate is targeted before the end of the year.
Sandstone drilling continues with 2 RC and 2 diamond drill rigs active.
Read full ASX Announcement here.
Falcon Metals (ASX:FAL)
High-Grade Drilling Extends Blue Moon Strike Beyond 850m
The Play
Blue Moon mineralisation is confirmed over more than 850m of strike.
Jasmine Zone returned 0.3m @ 98.3g/t Au and 0.3m @ 71.7g/t Au.
Jasmine Zone is confirmed over more than 200m of strike and remains open to the north.
Lotus Zone drilling confirmed the high-grade structure over approximately 750m of strike.
Recent drilling returned additional high-grade intercepts from the northernmost section drilled to date.
The Pitch
Blue Moon Gold Project is 100%-owned and located in Victoria's Bendigo Goldfield.
The project comprises Morning Glory, Magnolia, Jasmine, Lotus and Dahlia mineralised zones.
Morning Glory is confirmed over 300m and Magnolia over 180m of strike.
Three diamond rigs are operating across the Blue Moon drilling program.
The company held $15.4M cash at 30 June 2026.
The Next Overs
Two diamond rigs will continue northern step-out drilling along the Garden Gully trend.
The third diamond rig will continue drilling the Lotus Zone before targeting parallel structures.
Additional drill sites will be advanced, subject to flora surveys, cultural heritage assessments and approvals.
Read full ASX Announcement here.
Kali Metals (ASX:KM1)
High-Grade Tin and Tungsten Results Define Mineralised Vein System
The Play
High-grade rock-chip sampling returned up to 6.00% SnO₂ and 0.38% WO₃.
Mapping defined a 1.7km-long by 250m-wide tin-tungsten mineralised vein system.
Mineralisation was identified approximately 200m south of the historical Cudgewa alluvial tin workings.
480 of 880 planned soil samples highlighted tin and tungsten anomalism, indicating potential eastern extensions.
Initial rock-chip sampling returned high-grade tin results with notable tungsten credits.
The Pitch
Tallangatta Project is a 100% owned project covering 611km² in northern Victoria.
The project geology comprises Palaeozoic granitoid and sedimentary units.
Mt Cudgewa contains approximately 10 mineralised zones with multiple quartz veins.
Individual quartz veins range from 0.2m to 0.5m wide.
Rock-chip and soil sampling were completed at the Mt Cudgewa and Mildren prospects.
The Next Overs
Soil sampling is expected to recommence in September following the current wet-weather season.
Further mapping and rock-chip sampling planned across the Mt Cudgewa and Mildren areas.
LiDAR imagery acquisition and permitting planned for track clearing, trenching and drilling pads.
Read full ASX Announcement here.
E79 Gold Mines (ASX:E79)
Heritage Agreement Advances Maiden Cue Drilling
The Play
Heritage Protection Agreement executed with the Yugunga-Nya Traditional Owners.
Heritage Survey request submitted for the planned 10,000m air-core and RC drilling program.
The agreement establishes a framework for cultural heritage management and ongoing engagement.
Initial drilling will target cross-cutting structures identified by the recent gravity survey.
Interpretation of reprocessed magnetic and gravity datasets is generating additional exploration targets.
The Pitch
Cue Gold Project is a 100%-owned project covering approximately 65km² in Western Australia's Murchison Gold Province.
The project is immediately south of the historical Day Dawn goldfield.
Advanced and early-stage exploration targets have been identified across the project.
Statutory approvals for the initial drilling program have been granted.
Initial drill holes have been pegged.
The Next Overs
Heritage Survey request will support the planned 10,000m drilling program.
Initial 10,000m air-core and RC drilling program will target cross-cutting structures.
Pending tenement applications over the Ada and Chloe prospects can now be granted following execution of the Heritage Protection Agreement.
Read full ASX Announcement here.
Somerset Minerals (ASX:SMM)
High-Grade Copper Rock-Chip Results Across Multiple Coppermine Prospects
The Play
Surface rock-chip assays returned up to 46.3% Cu and 214g/t Ag across five prospects.
47 of 86 rock-chip samples returned above 1% Cu, including 19 above 10% Cu.
Talisker returned 37 samples above 1% Cu across more than 12km of strike.
Maiden rock-chip sampling at Skye returned up to 46.3% Cu and 25.1g/t Ag.
Jons Pit returned flow-top mineralisation with assays up to 19.9% Cu and 13.4g/t Ag.
The Pitch
Coppermine Project comprises 102 exploration licences and one exclusive exploration right covering 1,665km².
The project targets high-grade copper-silver mineralisation within the Copper Creek Formation basalts.
Talisker is a Priority-1 target spanning an approximately 17km geochemical and geophysical corridor.
Skye is a Priority-1 target approximately 3.0km north-west of Jura.
Danvers North and Danvers South remain at an early stage of systematic coverage.
The Next Overs
Maiden RC drilling at Talisker has completed 1,900m across 12 holes.
A separate RC drilling update is expected in the coming days.
First RC drilling assay results are expected within the next 2 weeks.