The Day's Play Edition 196: Solvay offtake, Ouarigue resource growth and Chalice gold extension | VMM, MPK, CZN
Viridis Mining and Minerals (ASX:VMM)
Solvay Offtake Secures US$915M Minimum Revenue
Viridis has executed a binding long-term offtake agreement with Rhodia Operations SAS, a member of the Solvay Group, for mixed rare earth carbonate (MREC) from its Colossus Rare Earth Project in Brazil. Minimum contracted volumes represent approximately 70% of forecast MREC production across the initial term, with contractual price floors on the 4 principal magnetic rare earths underpinning approximately US$915M in minimum revenue, subject to delivery of contracted volumes. Binding take-or-pay commitments commence on the earlier of commercial operations or 1 January 2029 and run through 31 December 2034. First production is targeted for 2028, with the agreement supporting Viridis' debt financing pathway.
Read full ASX Announcement here.
Many Peaks Minerals (ASX:MPK)
Ouarigue Gold Resource Grows 57% to 2.08Moz
Many Peaks has increased the Ouarigue Mineral Resource Estimate at its Ferké Gold Project to 34.6Mt at 1.87g/t Au for 2.077Moz, adding 754,000oz in 6 months. The open-pit component contains 1.108Moz, with 97% classified as Measured and Indicated. Growth is predominantly from Inferred underground resources. Initial metallurgical tests returned 74.1%–91.5% gold extraction. An integrated Scoping Study is targeted for Q4 2026, with A$20M cash reported at 30 September.
Read full ASX Announcement here.
Corazon Mining (ASX:CZN)
Chalice Drilling Intersects Gold Along 450m Strike
Corazon has intersected gold along approximately 450m of strike south of the historical Chalice pit. Results include 8m at 3.15g/t Au and 9m at 1.88g/t Au, with 23 of 29 reported holes returning intercepts above the 0.5g/t Au reporting cut-off. Assays remain pending for 5 step-out holes testing approximately 800m south of the pit. The 7,500m drilling program is scheduled for completion in November 2026.
Read full ASX Announcement here.
Lunnon Metals (ASX:LM8)
Hustler Metallurgical Testing Delivers Up to 97.3% Gold Recovery
Lunnon Metals has completed metallurgical testing at its Hustler gold deposit, recording average 24-hour gold recoveries of 96.4% at a 150µm grind and 97.3% at 125µm. Gravity recovery averaged 32.2% and 31.2%, respectively. The test work simulated processing through Gold Fields' nearby Lefroy plant, with results exceeding the 91% recovery agreed with SIGM under the Lady Herial Ore Purchase Agreement. Updated Mineral Resource Estimates for Hustler and Lady Herial remain on schedule to feed into the Scoping Study.
Read full ASX Announcement here.
Australian Gold and Copper (ASX:AGC)
Evergreen Drilling Intersects 16m at 5.1g/t Gold
Australian Gold and Copper has intersected 16m at 5.1g/t Au from 61m, including 4m at 17.5g/t Au from 72m, at its Evergreen Prospect within the South Cobar Project. The results come from a 21-hole, 2,593m RC drilling program targeting shallow mineralisation and extensions to previously reported high-grade results. Assays have been received for 9 holes, with 12 pending. The company is seeking regulatory approvals for further drilling as results continue to define a broad, gold-rich polymetallic mineralised system across western Evergreen.
Read full ASX Announcement here.
Kuniko (ASX:KNI)
Silica Hill Drilling Extends Gold-Silver Mineralisation
Kuniko has completed 11 diamond holes totalling 2,731m across 2 drilling campaigns at Commonwealth–Silica Hill, with all 11 intersecting mineralisation. Phase 2 drilling at Silica Hill returned 16.3m at 1.56g/t AuEq from 75.7m, including 11.95m at 1.95g/t AuEq. The results extend the interpreted mineralised system beyond historical resource boundaries and will support an updated Mineral Resource Estimate targeted for December 2026. Regional drilling at Welcome Jack, Walls and Stringers is planned for Q1 2027.
Read full ASX Announcement here.
Falcon Metals (ASX:FAL)
Falcon Earns 51% Interest at Errabiddy
Falcon has satisfied the Stage 1 earn-in requirements to acquire a 51% interest in Exploration Licence E09/2457 at Errabiddy, with West Coast Silver confirming the qualifying expenditure and commencing the transfer process. Falcon has elected to proceed to Stage 2, requiring a further $1.25M in expenditure within 36 months to earn an additional 19%. The maiden drilling program has expanded to 7,500m, with assays pending for 36 completed holes. Drilling is expected to finish by mid-November 2026.
Read full ASX Announcement here.
Antares Metals (ASX:AM5)
Enterprise Drilling Returns 6m at 3.11g/t Gold
Antares has intersected 6m at 3.11g/t Au from surface, including 3m at 4.43g/t Au from 3m, at Enterprise within its Quinns Project. All 6 holes drilled south of historical workings intersected gold. The first 10 holes at Venture also identified anomalous near-surface gold beneath the soil anomaly. Assays remain pending for 36 additional holes testing both prospects.
Read full ASX Announcement here.
Resources & Energy Group (ASX:REZ)
Menzies Goldfield Tenure Expands 69%
Resources & Energy Group has pegged 10 new Prospecting Licence applications covering 1,816ha and 1 Exploration Licence application covering approximately 5,669ha at its Menzies Goldfield. The 11 applications add 7,485ha, increasing total granted and pending tenure from approximately 10,800ha to 18,285ha. Several new applications are near the Gigante Grande Gold Resource. Next steps include securing tenure grants, obtaining exploration approvals and preparing maiden shallow gold drilling programs.
Read full ASX Announcement here.
Narryer Metals (ASX:NYM)
Redhill Stockpile Samples Return Up to 14.9% Copper
Narryer has reported copper grades of 14.9%, 8.7% and 14.35% from 3 historical mine stockpile samples at Cutters Cove, Chile. Silver reached 209g/t and bismuth 1,830ppm. The results support the potential for high-grade massive sulphide mineralisation. Further geological assessment will investigate mineralisation controls to guide future drill targeting.
Read full ASX Announcement here.
Raptor Metals (ASX:RAP)
Arunta Rock Chips Return Indicative 44.6% Copper
Raptor has reported indicative pXRF readings of up to 44.6% Cu at Prospect D and 28.6% Cu at Home of Bullion. Silver readings reached 3,058g/t. Home of Bullion hosts a 3.1Mt JORC Mineral Resource at 2.9% CuEq. The readings are preliminary field measurements, not laboratory assays, with samples submitted for laboratory analysis. Results will help refine follow-up exploration targets.