The Day's Play Edition 139: Maiden lithium resource, silver zone expands, gold structure extends | TG6, BGD, NXM
THE COIN TOSS
TG6 - TG Metals delivered a maiden Burmeister Mineral Resource of 6.71Mt at 1.18% Li2O, alongside an 11Mt to 14.5Mt Exploration Target.
BGD - Barton Gold Holdings extended Tolmer’s western silver zone beyond 500m, with drilling returning multiple high-grade silver-gold intersections.
NXM - Nexus Minerals extended the shallow high-grade Templar structure by 200m, with drilling returning 7m at 7.53g/t Au including 1m at 41.27g/t Au.
YUG - Yugo Metals delivered 36.1m at 2.3g/t Au from maiden diamond drilling at Erak, including 3m at 14.5g/t Au and 1m at 42.5g/t Au.
ADD - Adavale Resources extended London-Victoria gold mineralisation beyond the existing 115koz resource, with drilling returning 19m at 4.00g/t Au.
RR1 - Reach Resources executed a binding Right to Mine Agreement for Murchison South, with Andel to fund pre-mining, mining, haulage and processing costs upfront.
TSK - Tusker Minerals executed a binding Share Sale Agreement for 100% of GEL, with consideration of up to approximately A$4.85 million.
QML - QMines delivered 35m at 2.88% Cu, 0.75g/t Au and 3.3g/t Ag at Mt Chalmers, exceeding local resource block model copper grades.
HRE - Heavy Rare Earths expanded Subron by 268% to 562km², capturing interpreted strike extensions of the Blume, Hunley and Seawolf HREO prospects.
FG1 - Flynn Gold achieved 94% average gold extraction from 35 lower-grade Trafalgar samples, supporting further conventional cyanide leach evaluation.
R8R - Regener8 Resources returned Gradina grab samples up to 147g/t Ag, 11.2% Zn+Pb and 0.7% Sb from historical waste rock dumps.
TG Metals (ASX:TG6)
Maiden Burmeister Resource Totals 6.71Mt at 1.18% Li2O
THE PLAY
Maiden Burmeister Resource delivers 6.71Mt at 1.18% Li2O, classified entirely as Inferred.
The Maiden Resource focuses on material suitable for Direct Shipping Ore and early development.
An additional 11Mt to 14.5Mt at 0.90% to 1.20% Li2O forms the Exploration Target.
Metallurgical testwork confirms potential for ~1.5% Li2O DSO spodumene product via simple ore sorting.
The Mining Lease application for Burmeister has been submitted and is progressing.
THE PITCH
Burmeister is within the 100%-owned Lake Johnston Lithium Project in Western Australia, covering a high-grade spodumene deposit.
The Mineral Resource is reported at a 0.40% Li2O cutoff within an optimised pit shell.
The Resource is classified entirely as Inferred under the 2012 JORC Code reporting guidelines.
Initial testwork produced spodumene concentrates grading 5.28% to 5.74% Li2O using flotation and HLS methods.
Lake Johnston is within trucking distance of the Port of Esperance and near 3 operating lithium mines.
THE NEXT OVERS
Drilling will recommence in Q3 2026 when suitable drilling rigs are sourced.
DSO studies will evaluate near-term open pit potential at Burmeister.
Upcoming core drilling will provide DSO samples for potential offtake providers.
Read full ASX Announcement here.
Barton Gold Holdings (ASX:BGD)
Tolmer Silver Zone Extends Beyond 500m With High-Grade Assays
THE PLAY
Recent 3,677m RC drilling extended the western silver zone beyond 500m strike.
TBM0259 returned 16m @ 493 g/t Ag & 0.66 g/t Au from 50m.
TBM0260 returned 13m @ 364 g/t Ag & 0.74 g/t Au from 44m.
TBM0289 returned 16m @ 3.74 g/t Au & 15.1 g/t Ag from 57m.
New drilling also infilled the eastern gold zone with broad, shallow high-grade intersections.
THE PITCH
Tolmer hosts shallow western silver and eastern gold-dominant mineralised zones within the Tarcoola Project in South Australia.
The western silver zone includes upper and lower horizons carrying silver and gold mineralisation.
The eastern gold zone hosts gold as the dominant form of mineralisation to over 200m depth.
The Tarcoola Project covers part of the north-western Gawler Craton, centred over the historic Tarcoola goldfield.
Barton’s Central Gawler Mill is fully permitted and located near the Tarcoola Gold Project.
THE NEXT OVERS
Full metallurgical testwork will begin using composite samples from current drilling.
Barton will prepare an updated geological interpretation for modelling and follow-up drilling.
Petrology and structural interpretation are already underway for Tolmer’s mineralisation.
Read full ASX Announcement here.
Nexus Minerals (ASX:NXM)
High-Grade Templar Structure Extends 200m
THE PLAY
New drilling confirms a 200m extension of the shallow high-grade Templar structure.
Drilling returned 7m at 7.53g/t Au, including 1m at 41.27g/t Au from 53m.
Drilling returned 6m at 5.63g/t Au, including 1m at 15.29g/t Au from 51m.
Drilling returned 3m at 4.16g/t Au within 8m at 1.83g/t Au from 40m.
Drilling returned 2m at 3.53g/t Au and 2m at 1.57g/t Au from 95m.
THE PITCH
Crusader-Templar hosts the current combined MRE of 5.7Mt at 1.7g/t Au for 304koz.
The Wallbrook Gold Project is approximately 140km northeast of Kalgoorlie in Western Australia.
The deposit comprises sub-vertical mineralised porphyry intrusives over approximately 1.6km of defined strike.
Mineralisation is hosted in altered, silicified quartz porphyry intrusives within intermediate to felsic volcaniclastic host rocks.
Wallbrook comprises a 192km2 land package within a major regional structural corridor in Western Australia.
THE NEXT OVERS
Remaining assays from southern Crusader and Clement follow-up holes are expected before the end of August.
An updated multi-prospect Wallbrook MRE is targeted for completion by the end of the September quarter.
The identified extension will be modelled and incorporated into the upcoming MRE.
Read full ASX Announcement here.
Yugo Metals (ASX:YUG)
Broad High-Grade Gold Intercepts Advance Erak Discovery
THE PLAY
ERDD006 returned 36.1m @ 2.3g/t Au from 51.8m, including 3m @ 14.5g/t Au.
That interval included 1m @ 42.5g/t Au, with 34m reported true thickness.
ERDD006 also returned 1.9m @ 16.0g/t Au, including 0.9m @ 26.6g/t Au.
ERDD009 returned 10.4m @ 2.6g/t Au, including 1.2m @ 20.9g/t Au from 74.6m.
ERDD007 returned 22.4m @ 1.1g/t Au from 75m, with 21m reported true thickness.
THE PITCH
Yugo Metals' 100%-owned Sinjakovo Project is located in Bosnia-Herzegovina, Europe.
9 diamond drillholes have been completed at the Erak Prospect, totalling 1,057m.
Erak gold mineralisation is associated with hydrothermal phyllic silica-sericite-pyrite alteration zones.
The Sinjakovo tenement covers 50km2 and expires on 30 December 2026.
The Jezero tenement covers 31km2 and expires on 4 March 2028.
THE NEXT OVERS
Drilling at Erak will continue for the remainder of 2026, with further assays reported.
The drilling rig will relocate east to the 61m @ 1.5g/t Au trench location.
Metallurgical testworks are planned as part of the near-term work programme.
Read full ASX Announcement here.
Adavale Resources (ASX:ADD)
Further Drilling Extends Gold Beyond Existing Resource
THE PLAY
19m @ 4.00g/t Au extends mineralisation beyond the current 115koz resource.
ALRC076 returned 4m @ 15.02g/t Au, including 1m @ 52.6g/t Au.
ALRC077 returned 29m @ 0.90g/t Au, adjacent to the ALRC076 intersection.
ALRC078 returned 50m @ 0.58g/t Au, including 15m @ 0.93g/t Au.
ALRC079 returned 14m @ 0.83g/t Au and 20m @ 0.56g/t Au.
THE PITCH
London-Victoria is part of Adavale Resources' Belt-Scale Parkes Project in NSW's Lachlan Fold Belt.
Parkes Project tenements span ~610km2 across 70km of contiguous strike and 10 granted exploration licences.
The existing London-Victoria MRE is 3.8Mt @ 0.95g/t Au for 115koz Au.
The broader Parkes Project resource is 166koz Au across Calarie and London-Victoria.
Adavale Resources holds 11 granted nickel licences in Tanzania, covering a 1,000km2 portfolio.
THE NEXT OVERS
5 remaining drillhole assays are pending before the drilling dataset is finalised.
Final assays will be incorporated into an updated geological interpretation and Mineral Resource model.
An updated London-Victoria MRE is targeted for completion in Q3 CY26.
Read full ASX Announcement here.
Reach Resources (ASX:RR1)
Andel Executes Binding RTM Agreement For Murchison South
THE PLAY
Andel exercised its option and executed the legally binding Right to Mine Agreement for Murchison South.
Andel will fully fund pre-mining, mining, haulage and processing costs upfront, subject to remaining conditions.
The RTM Agreement provides Reach and Andel a 50/50 share of net project profits.
Andel's subsidiary Gylden Resources operates the Kirkalocka Mill, approximately 75km from Murchison South.
The RTM Agreement applies only to M59/769, known as Blue Heaven.
THE PITCH
Murchison South Gold Project is located in the Murchison Goldfields Region of Western Australia.
Blue Heaven has an 80,000oz Mineral Resource comprising 844kt at 3.0g/t Au.
Blue Heaven's Mineral Resource includes 530kt Indicated and 314kt Inferred material.
The open pit Mineral Resource is constrained within an A$4,500/oz optimised pit shell.
Kirkalocka Mill is located approximately 75km from the Murchison South Gold Project.
THE NEXT OVERS
FIRB approval remains a condition precedent to Andel's right to mine.
Mining services and toll milling agreements remain to be executed by the parties.
An independent environmental baseline audit of the tenements must also be completed.
Read full ASX Announcement here.
Tusker Minerals (ASX:TSK)
Binding Sale Agreement For Up To A$4.85M
THE PLAY
Binding Share Sale Agreement covers 100% of GEL for up to approximately A$4.85 million.
AuKing will acquire Machinga REE, Ngala Hill, Salambidwe and Karonga through GEL.
Tusker will retain beneficial ownership of Mzimba rutile assets transferred from GEL after Completion.
Consideration includes A$800,000 cash, A$1 million AuKing shares and further staged payments.
Performance consideration totals A$1.75 million, subject to specified Machinga and Ngala Hill milestones.
THE PITCH
GEL is Tusker’s wholly owned Malawian subsidiary holding exclusive prospecting licences.
Machinga comprises EPL 0529 and EPL 0705 within Tusker’s Malawian REE portfolio.
Ngala Hill, Salambidwe and Karonga are additional Malawian projects held through GEL.
Mzimba comprises the Mzimba West, Mzimba Central and Mzimba South rutile licences.
Tusker’s core portfolio includes rutile and heavy mineral sands assets across Cameroon and Malawi.
THE NEXT OVERS
Completion remains subject to required legal, regulatory, governmental, shareholder and third-party approvals.
Conditions precedent have a 30 September 2026 long-stop date.
Parties will prepare Completion documentation and transfer Mzimba to Tusker or its nominee.
Read full ASX Announcement here.
QMines (ASX:QML)
High-Grade Copper-Gold Results Exceed Local Model Grades
THE PLAY
Copper grades in 26MCRD002 exceeded those represented locally in the current resource block model.
26MCRD002 returned 35m @ 2.88% Cu, 0.75g/t Au and 3.3g/t Ag from 107m.
31m @ 3.22% Cu and 0.83g/t Au formed the higher-grade core from 110m.
26MCDD007 returned 16m @ 1.17% Cu and 1.58g/t Au from 66m downhole.
26MCDD007 also returned 21m @ 0.84% Cu and 0.83g/t Au from 89m.
THE PITCH
Mt Chalmers is 100%-owned by QMines and located approximately 25km northeast of Rockhampton in Queensland.
Mt Chalmers MRE totals 11.3Mt @ 0.75% Cu, 0.42g/t Au and 4.60g/t Ag at 0.3% Cu cut-off.
Mt Chalmers Ore Reserve is 9.6Mt @ 0.65% Cu, 0.48g/t Au and 5.20g/t Ag at 0.3% Cu cut-off.
The drilling supports the Mineral Resource update and provides material for metallurgical testwork supporting the DFS.
The program has completed 24 holes totalling 2,890m across the Mt Chalmers deposit to date.
THE NEXT OVERS
ALS Burnie comminution and flotation testwork is underway, with results expected in coming weeks.
Assays from 7 subsequent metallurgical holes completed will be reported as received and validated.
Updated metallurgical information will inform processing flowsheet and plant design within the DFS.
Read full ASX Announcement here.
Heavy Rare Earths (ASX:HRE)
Subron Footprint Expands 268% To 562km²
THE PLAY
Two new tenure applications cover 142 blocks and 410km² across Subron's expanded footprint.
The applications increase Subron's project area by 268% to 562km² in total.
Expanded tenure captures interpreted strike extensions of Blume, Hunley and Seawolf high-grade HREO prospects.
Expanded tenure contains more than 50km of sub-parallel structural corridors prospective for HREO mineralised trends.
Seawolf drilling includes 8m at 3,057ppm TREO and 1,344ppm HREO average, with 42% HREO ratio.
THE PITCH
Subron is a rare earths project in Western Australia, with existing exploration tenure held by HRE.
Existing drilling has identified 10 interpreted high-grade HREO domains using a >300ppm HREO cut-off.
The >300ppm HREO dataset contains 150 significant intercepts, including 454 individual 1m intervals grading >300ppm HREO.
These intervals average 1,653ppm TREO and 579ppm HREO, representing a 38% HREO ratio.
Subron's mineralisation is residual clay-hosted supergene rare earth mineralisation within saprolitic clays and saprock.
THE NEXT OVERS
New tenure will be Heritage Access fast-tracked for drill testing of HREO corridors.
Further strategic review assessment, results and recommendations are expected in coming weeks.
Additional work includes metallurgical testwork and potentially resource infill drilling.
Read full ASX Announcement here.
Flynn Gold (ASX:FG1)
94% Gold Extraction Achieved From Lower-Grade Trafalgar Samples
THE PLAY
Sighter tests achieved 94% average gold extraction across 35 low to medium-grade samples.
Samples came from lower-grade mineralisation outside the high-grade vein domains used for the 2024 Exploration Target.
Individual cyanide gold extraction ranged from 88% to 97% across the 35 tests.
Results support further evaluation of conventional cyanide leaching as a potential processing pathway.
Results were consistent with previously reported 94.5% average extraction from Trafalgar testwork.
THE PITCH
Golden Ridge is 100%-owned and located in north-east Tasmania, covering 167km² under EL17/2018.
The project hosts intrusion-related gold mineralisation extending over a 9km-long zone.
The combined Exploration Target covers 3.5Mt to 5.4Mt at 3.0g/t to 4.0g/t Au.
Trafalgar's Exploration Target comprises 1.6Mt to 2.2Mt at 4.5g/t to 6.0g/t Au.
Previous Trafalgar drilling included multiple intersections grading >100g/t Au.
THE NEXT OVERS
Further metallurgical testwork will use fresh core under more representative commercial processing conditions.
Beneficiation options will be investigated for lower-grade mineralisation in the next phase.
Resource drilling has commenced at Brilliant, with up to 21 holes for 2,500m approved.
Read full ASX Announcement here.
Regener8 Resources (ASX:R8R)
High-Grade Ag-Zn-Pb-Sb Results From Gradina
THE PLAY
Recent Gradina grab samples returned up to 147g/t Ag, 11.2% Zn+Pb and 0.7% Sb.
The samples came from historical waste rock dumps near old workings at Gradina.
Historical underground samples returned up to 92g/t Ag, 10.5% Zn+Pb and 0.1% Sb.
Historical surface rock-chip sampling returned up to 59g/t Ag, 15.2% Zn+Pb and 0.2% Sb.
Recent samples were hand-selected float rocks, not systematic or representative of in-situ grades.
THE PITCH
The ~80km² Srebrenica North Project comprises the Vagan and Dolovi exploration licences in Bosnia-Herzegovina.
The Project covers the Srebrenica Volcanic Complex and lies between Sase and Veliki Majdan lead-silver-zinc mines.
Gradina comprises Tertiary dacito-andesite intrusives that have intruded Carboniferous schists and Jurassic serpentinites in Bosnia-Herzegovina.
Mapped mineralised veins at Gradina contain zinc and lead and have a semi-radial arrangement.
Historical exploration at Gradina included underground sampling, surface mapping, rock-chip sampling and stream sediment sampling.
THE NEXT OVERS
Technical and legal due diligence is ongoing for the Bosnia-Herzegovina Project.
Initial exploration planning covers mapping, sampling, geophysics and drill targets.
Program of Work and landholder agreements will be secured before drilling.