The Day's Play Edition 184: Lithium project economics, coal resource growth and copper-zinc drilling | LPM, YAR, GRE
THE COIN TOSS
Lithium Plus Minerals (ASX:LPM)
Lei Scoping Study Outlines A$325M Post-Tax NPV
Lithium Plus Minerals has released a Scoping Study for its 100%-owned Lei Lithium Project in the Northern Territory, outlining a potential 6-year underground direct shipping ore (DSO) operation. The Study forecasts a post-tax NPV at an 8% discount rate of A$325M and a post-tax IRR of 75.4%. Production is forecast at 3.52Mt at an average grade of 1.37% Li₂O, with initial project capital of A$87.7M and post-tax capital payback of 1.8 years from first production. The existing Mineral Resource stands at 5.22Mt at 1.50% Li₂O, while the mine plan comprises 57% Indicated and 43% Inferred Resources. The Study assumes a DSO price of US$350/t CIF China on a 1.5% Li₂O basis. No Ore Reserve has been declared, and project funding and approvals remain outstanding. Environmental approval is targeted for Q1 2027, with a Final Investment Decision targeted for Q2 2027, subject to further studies, approvals and funding.
Read full ASX Announcement here.
Yari Resources (ASX:YAR)
Arcadia Completion Lifts Reported Coal Resources to 504.9Mt
Yari Resources has completed its acquisition of the Arcadia Coal Project, increasing its combined reported JORC Coal Resources to 504.9Mt, comprising 197.7Mt of Indicated and 307.2Mt of Inferred Resources. Arcadia contributes 282.0Mt, including 164.0Mt Indicated and 118.0Mt Inferred, while Rolleston South contributes 222.9Mt. Yari reports that total resources increased by 126.5% and Indicated Resources by 486.6%, lifting total resource tonnes per share by 28.8% and Indicated resource tonnes per share by 233.7%. Consideration comprised A$50,000 upfront cash and 147,594,744 completion shares, subject to 12 months' escrow. Additional obligations include A$400,000 in minimum qualifying expenditure over 3 years, A$1.25M in resource and tenure milestone payments, A$20M in production-linked cash payments, a 1.5% gross revenue royalty and a 10% entitlement to relevant future sale or transfer consideration.
Read full ASX Announcement here.
GreenTech Metals (ASX:GRE)
Whundo Drilling Returns Significant Copper-Zinc-Silver Intercepts
GreenTech Metals has reported new diamond drilling results from its 100%-owned Whundo Copper-Zinc-Gold Project in Western Australia. At Yannery, drilling returned 11.61m at 0.87% Cu, 1.18% Zn and 2.15g/t Ag, while Austin returned 7m at 2.48% Cu and 20.7g/t Ag from surface. Deeper Austin drilling also intersected copper-zinc-silver-gold mineralisation. The Yannery intercept lies outside the existing Mineral Resource, providing potential for resource growth. Assay results from 8 additional drill holes are expected in November 2026.
Read full ASX Announcement here.
CuFe (ASX:CUF)
CuFe Agrees to Acquire Remaining 45% of Tennant Creek
CuFe has entered into a binding conditional agreement to acquire 100% of Gecko Mining Company, which holds the remaining 45% interest in the Tennant Creek Copper Project, consolidating its existing 55% interest into 100% ownership upon completion. The project hosts a JORC 2012 Mineral Resource of 23.5Mt at 1.73% Cu and 0.72g/t Au, containing 405kt of copper and 544koz of gold, alongside 2.9Moz of silver and 16.5kt of bismuth. Consideration comprises 1.6 billion new fully paid CuFe shares. Completion remains subject to due diligence, shareholder approvals, regulatory and third-party approvals, and other conditions. The indicative timetable targets completion in January 2027. Meanwhile, RC and diamond drilling is underway across the Orlando and Gecko mineralised corridors, with initial assay results expected in early December 2026.
Read full ASX Announcement here.
Argenica Therapeutics (ASX:AGN)
Laboratory Studies Expand Xaranetide’s Multi-Target Mechanism
Argenica Therapeutics has reported in vitro pharmacology findings showing that xaranetide inhibits NMDA receptor subunits and 2 additional ion channels implicated in brain injury: ASIC1a and CaV2.2. Laboratory testing found that NMDA-channel inhibition was partially reversible, with activity recovering after drug removal and a change in membrane voltage. The findings strengthen the mechanistic rationale for xaranetide’s potential neuroprotective effects and may help explain signals observed in exploratory Phase 2 analyses involving more severely affected stroke patients. The results are from laboratory studies and do not establish clinical efficacy or regulatory approval.
Read full ASX Announcement here.
Antimony Resources (ASX:ANT)
Antimony Resources Joins US Defense Industrial Base Consortium
Antimony Resources’ US subsidiary, Strategic Minerals, Inc., has been accepted into the US Defense Industrial Base Consortium, providing a platform to engage with US government agencies, defence industry participants, processors and strategic partners involved in critical-minerals supply chains. The company’s North American strategy spans the Tecomatlán Processing Plant and Los Lirios Antimony Project in Mexico, alongside its Dollar and Milton projects in Nevada. Tecomatlán is progressing towards production of a marketable antimony concentrate, while Los Lirios is advancing towards a maiden JORC Mineral Resource and the Nevada projects are being prepared for initial drilling. Consortium membership provides a platform to pursue funding, procurement, offtake and strategic partnerships, but does not guarantee any contract, funding or offtake award.
Read full ASX Announcement here.
OD6 Metals (ASX:OD6)
Fluorspar Corridor Extends 350m Between Blue Bell and Shannon Queen
OD6 Metals has identified a 350m fluorspar-bearing corridor between the Blue Bell prospect and historic Shannon Queen workings at its Quinn Fluorspar Project in Nevada. Reconnaissance rock-chip sampling returned grades of up to 95.6% CaF₂, with 9 of 22 samples exceeding 59% CaF₂ and 4 exceeding 90%. Individual veins range from 10cm to several metres wide, with associated stockwork and breccia. Follow-up mapping, sampling and structural interpretation are planned to assess continuity and extensions. These are selective surface rock-chip results and do not establish a Mineral Resource or representative bulk grade.
Read full ASX Announcement here.
Critical Resources (ASX:CRR)
Critical Resources Secures Exclusivity Over Third Suriname Gold Project
Critical Resources has secured exclusivity to acquire a 90% interest in the Gadu Manda Gold Project, a granted exploration permit covering approximately 29km² in Suriname, around 4km from the western open pits of Zijin’s Rosebel gold mine. The proposed acquisition would expand the company’s Suriname portfolio to approximately 228km² across 3 projects, subject to completion of all 3 acquisitions. Consideration comprises US$200,000 in staged cash payments over 2 years, including a US$10,000 exclusivity fee, and 2.5 million Critical Resources shares, alongside a minimum US$200,000 exploration commitment within 2 years of completion. The transaction remains subject to due diligence, ministerial approval and other conditions precedent, with key terms to be documented in a binding acquisition agreement. The company retains the right to withdraw from the transaction at any time. No exploration results or mineral resources have been reported for Gadu Manda.
Read full ASX Announcement here.
Olympio Metals (ASX:OLY)
Nexus Target Identified at Jacknife Silver Project
Olympio Metals has identified Nexus, an undrilled exploration target at the interpreted intersection of the Conjecture and Weber Shear Zones at its Jacknife Silver Project in Idaho, USA. The target is approximately 200m from the historic Keep Cool Mine and forms part of the Silver Triangle, where historical mines collectively produced more than 3Moz of silver. Maiden diamond drilling is underway across approximately 1.5km of priority targets, with 4 holes completed and assay results expected in around 5 weeks. Nexus remains untested, with mineralisation yet to be confirmed.
Read full ASX Announcement here.
Pioneer Minerals (ASX:PMM)
Five New Gold-Copper Targets Identified at San Francisco
Pioneer Minerals has identified 5 new priority gold-copper geochemical targets at its San Francisco Gold-Copper-Silver Project in San Juan Province, Argentina, following an integrated review of historical exploration data. The targets exhibit anomalous gold and associated metal signatures alongside favourable geological structures, veins and locally developed breccias. The nearest historical drill traces are approximately 271m to 921m away in plan view. A further 4 follow-up targets have been identified, creating a pipeline of 9 targets for field evaluation, while a 10th anomaly requires separate assessment. Planned mapping, rock-chip and soil sampling will validate the anomalies and refine priorities for future drilling. The targets remain unconfirmed, with no new sampling or drilling results reported in the announcement.
Read full ASX Announcement here.
Axiant Resources (ASX:AXR)
IP Surveys Refine Shoobridge Targets Ahead of Maiden Drilling
Axiant Resources has completed induced polarisation (IP) surveys at the Mt Shoobridge prospect within its 230km² Shoobridge Gold Project in the Northern Territory, identifying 3 additional drill-target areas. These include a deeper central conductor beneath historical drilling, the lightly tested eastern flank and untested chargeability zones to the east and west. The company cautions that the central geophysical response may reflect weathering or sulphide-related regolith effects, while graphitic shale is a potential source of the deeper conductor. All required drilling approvals have been received and site preparation is underway, with maiden drilling expected to commence in the coming weeks. The program will test for extensions to gold mineralisation at depth and along strike, subject to weather and site access.
Read full ASX Announcement here.
Rimfire Pacific Mining (ASX:RIM)
Rimfire Applies for 500km² Scandium Position Beside Nyngan
Rimfire Pacific Mining has lodged 2 exploration licence applications covering 500km² for its proposed Bogan River Project in NSW, directly adjoining the Nyngan Scandium Deposit and near its 100%-owned Rabbit Trap Project. The area contains multiple untested magnetic anomalies interpreted as mafic-ultramafic intrusions analogous to scandium-hosting systems elsewhere in NSW. The applications are expected to be determined within 2–3 months, with historical data review and geophysical modelling planned to prioritise targets. No mineral discovery or Mineral Resource has been established.