The Day's Play Edition 164: A$333M lithium scheme, 4.3Mt copper resource and 383koz gold | GL1, NYM, ADD
THE COIN TOSS
Narryer Metals (ASX:NYM)
Redhill Deal Adds 4.3Mt at 1.7% Cu
Narryer has agreed to acquire 100% of the Redhill Copper Project in southern Chile, which hosts an existing JORC Resource of 4.3Mt at 1.7% Cu, 33g/t Ag and 0.3g/t Au. The project also has a conceptual Exploration Target of 16.1Mt–48.9Mt at 1.2%–2.6% Cu. Consideration includes 20M NYM shares and a A$1M milestone payment linked to delineation of a 12Mt Resource at ≥2% CuEq, while 29Metals has agreed to subscribe for A$1M of NYM shares at A$0.10/share.
Read full ASX Announcement here.
Global Lithium Resources (ASX:GL1)
A$333M Takeover Scheme Signed
Global Lithium has entered a binding Scheme Implementation Deed under which Titan Australia Mining will acquire 100% of the company for A$1.15 per share in cash, representing an approximately A$333M valuation on a fully diluted basis. Titan Lithium Group will provide a facility of up to A$120M to fund development expenditure at the Manna Lithium Project during the Scheme. The transaction remains subject to shareholder, Court, regulatory and other conditions.
Read full ASX Announcement here.
Adavale Resources (ASX:ADD)
Parkes Gold Resource Reaches 383koz
Adavale has reported an updated Mineral Resource Estimate of 383koz Au for the Parkes Project. The updated London-Victoria estimate incorporates Adavale’s modern drilling, geological interpretation and structural model, replacing the previous estimate that was based entirely on historical drilling. The update provides a new comprehensive assessment of the London-Victoria deposit within the broader Parkes resource base.
Read full ASX Announcement here.
Waratah Minerals (ASX:WTM)
Spur Hits 46m at 7.27g/t Gold
Waratah has reported 46m at 7.27g/t Au from 541m at Spur, including 19m at 15.62g/t, 10m at 28.93g/t and 1.3m at 206g/t. Additional drilling returned broad mineralised intervals including 80m at 0.97g/t Au and 22m at 2.69g/t Au. At Consols, mineralisation has now been traced over approximately 400m of strike and 400m vertically, with the latest hole extending mineralisation 70m north and 150m east.
Read full ASX Announcement here.
GBM Resources (ASX:GBM)
Twin Hills Returns 101m at 2.63g/t Gold
GBM has reported 101m at 2.63g/t Au from 256m at Lone Sister within the Twin Hills Project, including 9m at 6.55g/t and 4m at 10.35g/t. Further drilling at the 309 deposit returned 12m at 5.94g/t, 10m at 4.93g/t and 16m at 2.23g/t Au across multiple holes. A further 8,400m of assays remain pending, including 6,450m from 309 and 1,950m from Lone Sister, ahead of a planned Mineral Resource update.
Read full ASX Announcement here.
MinRex Resources (ASX:MRR)
Barje Delivers 36m at 5.85g/t AuEq
MinRex has reported 36m at 5.85g/t AuEq from 47m at the Barje Deposit, including 4.2m at 15.67g/t AuEq and 14m at 7.74g/t AuEq. Additional drilling returned 17.5m at 5.22g/t AuEq and 18.3m at 4.87g/t AuEq, among other intersections from the central zone. The company is targeting a maiden JORC 2012 Mineral Resource Estimate for Barje next quarter.
Read full ASX Announcement here.
Many Peaks Minerals (ASX:MPK)
Ferké Intersects 116.5m at 1.76g/t Gold
Many Peaks has reported 116.5m at 1.76g/t Au within the Ouarigue mineralised intrusion at the Ferké Gold Project, including 40.3m at 3.89g/t Au from 999.6m. The higher-grade interval has an estimated true width of 38.2m and represents the deepest intersection into the Ouarigue mineralised intrusion to date. The result is approximately 450m down-plunge and more than 300m vertically below FNDC135, with mineralisation remaining open at depth.
Read full ASX Announcement here.
Cannindah Resources (ASX:CAE)
NovaCell Testwork Returns 94% Cu Recovery
Cannindah’s NovaCell coarse particle flotation testwork returned 94% copper recovery, 92% silver recovery and 68% gold recovery at a target P80 grind of approximately 450µm. The testwork rejected 82% of processed material at an 18% mass pull, with further work planned to improve precious-metal recoveries. An updated Mineral Resource Estimate for the Cannindah Breccia is targeted for the end of September 2026.
Read full ASX Announcement here.
Alma Metals (ASX:ALM)
Briggs Intercepts 383.8m at 0.25% Cu
Alma has reported 383.8m at 0.25% Cu from 10.2m at Briggs, including 130m at 0.31% Cu, 76.7m at 0.34% Cu and 14m at 0.38% Cu. The results are consistent with the current Mineral Resource block model and support conversion of Inferred Resources to Indicated Resources. Approximately 3,600m has now been drilled across 10 completed holes, with 4 additional exploration holes totalling approximately 1,250m planned west of the current Mineral Resource.
Read full ASX Announcement here.
Kali Metals (ASX:KM1)
JX Metals to Fund Up to $700k Exploration
Kali has signed a binding MOU with JX Advanced Metals Corporation covering the Southern Lachlan Project in Victoria and NSW, with an initial exploration and due diligence phase running through 31 March 2027. JX will fund exploration expenditure of up to $700k during this phase, while Kali remains operator of the project. JX will then have the option to negotiate a formal farm-in or joint venture agreement.
Read full ASX Announcement here.
Legacy Minerals (ASX:LGM)
Crystal Hill IP Target Extends 800m
Legacy Minerals has identified 3 discrete IP chargeability targets at the Crystal Hill Prospect within its 100%-owned Rockley Project in NSW. The central target extends approximately 800m along strike, reaches up to 45mV/V and is coincident with a Crystal Hill soil geochemical anomaly, while 2 additional targets exceed 35mV/V. Nearby rock-chip sampling has returned up to 9.3% Cu, 3.9g/t Au and 415g/t Ag, with drill testing of the IP targets under consideration.
Read full ASX Announcement here.
Cavalier Resources (ASX:CVR)
Crawford Financing Talks Continue as Site Works Advance
Cavalier continues negotiations on Crawford financing, with the Javelin exclusivity period expired while the binding term sheet with Ottomin remains in effect. SSH Mining remains the preferred mining contractor, with the first draft Mining Services Agreement and Scope of Work under internal review. Further pre-production works are also progressing, including geotechnical test pits within the planned heap leach pad area, additional plant and equipment preparations, and recruitment for the Project Manager – Heap Leach Construction role.