The Day's Play Edition 117: Copper debut, kidney pipeline and drilling growth | LUX, DXB, PRU
THE COIN TOSS
LUX - Lux Copper commenced ASX trading after raising $15M, funding maiden drilling at the Baird Project.
DXB - Dimerix acquired Phase 2-ready DMX-652, adding an FDA-approved Phase 2 acute kidney injury program to its kidney disease pipeline.
PRU - Perseus Mining committed $34M to FY27 drilling to expand Yaouré resources and test mine life extensions.
LTP - LTR Pharma executed a definitive U.S. commercial agreement with Shed, with Shed committing to support delivery of at least 150,000 ROXUS units in the first year after Commercial Launch.
RML - Resolution Minerals secured FAST-41 transparency coverage for Golden Gate, with both primary Horse Heaven development targets now covered.
BAK - Barkly Rare Earths commenced a 10,000 m Phase 1 drilling program targeting expansion of the existing 40 Mt Inferred Mineral Resource.
NNL - Nordic Resources extended Kopsa North mineralisation beyond the current resource boundary, with EM interpretation suggesting depth potential.
AX8 - Accelerate Resources delivered multiple shallow gold intersections from the first drilling at Fluffy in more than 30 years.
PUR - Pursuit Minerals recovered highly conductive brines during the first DDH-3 packer test, consistent with its geological and geophysical interpretation at Mito.
CRR - Critical Resources confirmed highly fractionated LCT pegmatites across the Mavis Lake Northern Prospects, refining drill targeting with K/Rb ratios as low as 17.4.
RRE - Right Resources established a 0.48% WO₃ head grade at Blue Prospect, providing the feed grade for metallurgical beneficiation and recovery testwork.
Lux Copper (ASX:LUX)
ASX Listing Funds Maiden Baird Drill Program
THE PLAY
Lux Copper commenced trading on the ASX following a $15M IPO.
IPO proceeds will fund exploration across the Baird and Ambler projects.
Maiden diamond drilling at the Baird Project is scheduled to commence in August.
Drill permitting is underway, with drill and helicopter contractors secured.
Camp and site preparation is underway ahead of drilling.
THE PITCH
Lux Copper holds the Baird and Ambler projects in Alaska's Ambler Mining District.
The Baird Project is a high-grade copper-zinc discovery opportunity.
The Ambler Project covers approximately 236 km² within the Ambler Metallogenic Corridor.
The Ambler Project is adjacent to the Arctic and Bornite deposits and the proposed Ambler Access Road.
IPO funds will support exploration, geophysics, maiden drilling, working capital and IPO costs.
THE NEXT OVERS
Aerial geophysical surveys at the Baird Project are planned during July.
A LiDAR survey at the Baird Project is planned during August.
Reconnaissance work at the Ambler Project is scheduled for September.
Read full ASX Announcement here.
Dimerix (ASX:DXB)
Dimerix Acquires Phase 2-Ready Acute Kidney Injury Asset
THE PLAY
Dimerix acquired DMX-652 for all indications from Mission Therapeutics.
The acquisition includes an open US IND with an FDA-approved Phase 2 clinical trial protocol.
A Phase 1 trial in 85 healthy participants found DMX-652 was well tolerated.
The acquisition includes pharmaceutical-grade drug product and manufacturing methodology for the Phase 2 trial.
DMX-652 expands Dimerix's kidney disease pipeline into acute kidney injury.
THE PITCH
DMX-652 is a selective USP30 inhibitor administered as a once-daily oral capsule.
The initial target indication is acute kidney injury.
The proposed Phase 2 trial is designed to enrol approximately 160 high-risk patients undergoing cardiac surgery.
Dimerix will have sole ownership and control of DMX-652 under the acquisition.
The acquisition includes the composition of matter patent family with anticipated expiry in 2041.
THE NEXT OVERS
Clinical trial ethics approval and site initiation are anticipated in H2 CY2026.
First patient dosing is anticipated in H1 CY2027.
An interim Phase 2 data readout is anticipated during 2027.
Read full ASX Announcement here.
Perseus Mining (ASX:PRU)
Yaouré Growth Program Backed by $34M FY27 Drilling
THE PLAY
CMA underground transitioned into operations, with initial stoping underway.
Yaouré open pit identified 24% more contained gold over the trailing 6 months than the Reserve model.
Extension drilling indicated potential mineralisation beyond the current CMA underground Mineral Resource.
Exploration drilling produced positive results at the CMA Southwest and ROZA prospects.
Perseus committed $34M to FY27 resource definition, geotechnical and metallurgical drilling.
THE PITCH
The Yaouré Gold Mine is located in Côte d'Ivoire.
The FY27 program comprises approximately 123 km of drilling.
The program includes resource definition, geotechnical and metallurgical drilling.
The FY27 program targets Inferred Resource conversion and extension targets.
Recent Yaouré open pit drilling is being incorporated into an updated Mineral Resource estimate.
THE NEXT OVERS
An additional underground jumbo will be mobilised to support development and underground exploration drilling.
An updated Ore Reserve statement is scheduled for release in August 2026.
Brownfields exploration at ROZA and CMA Southwest will continue.
Read full ASX Announcement here.
LTR Pharma (ASX:LTP)
Definitive U.S. Commercial Agreement Advances ROXUS Commercialisation
THE PLAY
LTR Pharma executed a definitive Telehealth Distribution Agreement with Shed.
The agreement converts the previously announced binding Term Sheet into a definitive commercial agreement.
The agreement establishes the framework for U.S. commercialisation of ROXUS.
Shed committed to support delivery of at least 150,000 ROXUS units during the first 12 months following Commercial Launch.
The agreement enables both parties to complete remaining implementation activities before Commercial Launch.
THE PITCH
Shed is a U.S. direct-to-consumer telehealth platform with a dedicated men's health platform, Mavrox.
ROXUS will be commercialised through Mavrox and Shed's direct-to-consumer platform.
Shed is responsible for patient acquisition, platform operations, clinical infrastructure and related marketing activities.
The agreement covers commercialisation, branding, marketing and operational activities.
The commercial volume commitment forms part of Shed's agreed performance framework underpinning ongoing exclusivity.
THE NEXT OVERS
The parties will complete the remaining implementation activities before Commercial Launch.
LTR Pharma will update the market as Commercial Launch conditions are satisfied.
Preparatory work is underway, with ROXUS featured on Mavrox and a patient waitlist established.
Read full ASX Announcement here.
Resolution Minerals (ASX:RML)
Golden Gate Secures FAST-41 Transparency Coverage
THE PLAY
Golden Gate was added to the US FAST-41 Permitting Transparency Program.
Both primary Horse Heaven development targets now hold FAST-41 transparency status.
The US Forest Service accepted the Golden Gate Plan of Operations.
The approved program allows up to 340 drill holes and 2,000 ft of trenching.
FAST-41 provides structured inter-agency coordination, defined permitting timelines and public tracking.
THE PITCH
Golden Gate and Antimony Ridge are within the 15,000-acre Horse Heaven Project in Idaho.
Golden Gate includes the past-producing Golden Gate Tungsten Mine.
Horse Heaven also includes the Johnson Creek Tungsten Mill and historical tungsten stockpiles.
A fully funded Phase 2 drilling program at Golden Gate comprises up to 45 resource definition holes.
The project is adjacent to Perpetua Resources' permitted Stibnite Gold Project.
THE NEXT OVERS
Resolution will advance the Golden Gate Plan of Operations through the FAST-41 process.
Following approval, the company intends to commence a drill campaign at Golden Gate.
Initial Phase 2 drilling results are expected by the end of July.
Read full ASX Announcement here.
Barkly Rare Earths (ASX:BAK)
10,000 m Resource Expansion Drilling Commences
THE PLAY
Drilling commenced for the 10,000 m Phase 1 resource expansion program.
The program targets expansion of the existing 40 Mt Inferred Mineral Resource.
Approximately 400 shallow holes are planned across the project area.
Initial deeper holes will provide geological framework and test continuity beyond the existing Mineral Resource.
The program will generate geological, chemical and bulk-density data for future resource work.
THE PITCH
The Barkly Project hosts an Inferred Mineral Resource of 40 Mt @ 2,100 ppm TREO.
The Phase 1 program comprises approximately 10,000 m of predominantly RC drilling.
Most planned holes average approximately 25 m depth within the Immediate Zone on approximately 800 m spacing.
The Immediate Zone surrounding the existing Mineral Resource is the primary drilling target.
Samples will undergo geological logging and pXRF analysis, with selected samples submitted for laboratory assay.
THE NEXT OVERS
Resource-infill and reconnaissance drilling will commence next week.
Exploration results are expected throughout Q3 and Q4 CY2026.
A Mineral Resource estimate update is planned for Q4 CY2026.
Read full ASX Announcement here.
Nordic Resources (ASX:NNL)
Kopsa North Extends Beyond Resource Boundary
THE PLAY
Three drill holes extended mineralisation 30–100 m beyond the current resource boundary.
NRKOP25005-ext returned 55 m @ 0.47 g/t Au, 0.18% Cu from 291 m, including 4.5 m @ 2.50 g/t Au.
All holes confirmed mineralised extensions along strike and at depth.
EM interpretation suggested potential continuity at depth.
Three southwest step-out holes were completed, with assays expected shortly.
THE PITCH
The Kopsa deposit hosts a JORC Mineral Resource of 23.2 Mt @ 1.09 g/t AuEq for 814,800 oz AuEq.
The reported holes targeted the northern contact of the host tonalite intrusion.
The reported results cover 559 m of diamond drilling across 3 holes.
The reported holes tested gaps within the current resource block model.
Nordic Resources held more than A$10M in cash at the end of March 2026.
THE NEXT OVERS
Southwest step-out drill assays are expected shortly.
Metallurgical test results are expected during Q3 2026.
An updated Kopsa Mineral Resource is intended following receipt of the metallurgical results.
Read full ASX Announcement here.
Accelerate Resources (ASX:AX8)
First Fluffy Drilling Delivers Shallow Gold Intersections
THE PLAY
First drilling at Fluffy in more than 30 years returned multiple shallow gold intersections.
Aircore drilling returned 10 m @ 1.05 g/t Au from 24 m, 3 m @ 1.96 g/t Au from 49 m, 1 m @ 8.44 g/t Au from 37 m, and 4 m @ 1.13 g/t Au from surface.
Results align with historical mineralisation within the same geological corridor.
Coincident geological, geochemical and geophysical vectors increased confidence in a coherent mineralised gold system.
The program completed 35 aircore holes for 1,473 m.
THE PITCH
The Balagundi Gold Project is located approximately 15 km east of Kalgoorlie, Western Australia.
Drilling targeted the eastern margin of the Catrock-textured porphyritic dolerite and cross-cutting structures identified from the GAIP survey.
The project hosts basalts, dolerites, sediments and felsic intrusives associated with structural gold corridors.
The Balagundi Project is being advanced as a multi-trend gold project.
Completion of the MRT transaction is expected to increase the Balagundi landholding by approximately 80% to around 62 km².
THE NEXT OVERS
Further analysis will refine targets for deeper RC or diamond drilling.
Selected mineralised and altered samples will undergo additional analysis.
Geological mapping and geochemical sampling will commence across the expanded project tenure.
Read full ASX Announcement here.
Pursuit Minerals (ASX:PUR)
First Packer Test Supports Geological Interpretation
THE PLAY
First DDH-3 packer test recovered brine samples from the targeted aquifer for lithium assays.
Highly conductive brines encountered during testing were consistent with the geological and geophysical interpretation.
Field measurements recorded 1.220 g/cm³ specific gravity, 201 mS conductivity and neutral pH.
Geological logging confirmed the sedimentary sequence interpreted from CSAMT reprocessing.
DDH-3 continued toward its planned 700 m target depth.
THE PITCH
The Rio Grande Sur Lithium Project is located in Salta Province, Argentina.
DDH-3 is testing a basin-scale conductive system identified through CSAMT reprocessing.
The conductive system extends from approximately 250 m to beyond 1 km depth.
The first packer test covered the interval from approximately 156.2 m to 180.0 m.
Four representative brine samples and porosity samples were collected for laboratory analysis.
THE NEXT OVERS
DDH-3 will continue toward its planned 700 m target depth.
Additional packer tests are scheduled throughout the drillhole.
Lithium assay results will be reported following completion of laboratory analysis.
Read full ASX Announcement here.
Critical Resources (ASX:CRR)
Northern Prospects Geochemistry Refines Drill Targeting
THE PLAY
Whole-rock geochemistry confirmed highly fractionated LCT pegmatites across the Northern Prospects.
K/Rb ratios fell as low as 17.4 with up to 5,510 ppm Rb.
Analyses returned up to 221 ppm Cs and 53 ppm Ta.
The strongest fractionation signatures were identified within the northern claim package acquired in August 2025.
Results differentiated pegmatite fertility and refined drill targeting.
THE PITCH
The field program collected 106 rock samples from 14 pegmatite bodies.
Six pegmatite bodies were newly identified during the program.
The program included mapping of 161 outcrops and 74 structural measurements.
The Northern Prospects lie approximately 4 km north of the existing 8.0 Mt @ 1.07% Li₂O Mineral Resource.
K/Rb ratios and elevated Rb, Cs and Ta indicate pegmatite fertility, not lithium grade.
THE NEXT OVERS
Geological, structural, geophysical and historical datasets will be integrated.
High-confidence drill targets will be refined for follow-up exploration.
The next exploration phase will include mapping, surface geochemistry, mechanised stripping where appropriate, and scout diamond drilling.
Read full ASX Announcement here.
Right Resources (ASX:RRE)
Blue Prospect Metallurgical Testwork Establishes 0.48% WO₃ Head Grade
THE PLAY
The composite metallurgical sample returned a head grade of 0.48% WO₃.
The head assay establishes the feed grade for ongoing metallurgical testwork.
Two sub-samples returned 0.77% WO₃ and 0.80% WO₃ but are not representative of the composite sample.
Metallurgical testwork is assessing beneficiation, tungsten upgrade and recovery.
Supporting size-by-assay and mineralogical studies are underway.
THE PITCH
Approximately 32 kg of surface bulk sample was collected from the Blue Prospect.
The bulk sample contained visible scheelite and wolframite mineralisation.
The composite head grade provides the feed basis for the current metallurgical evaluation.
The Blue Prospect is located within the Tumbarumba region of New South Wales.
The maiden metallurgical testwork program is being undertaken by Nagrom Laboratories.
THE NEXT OVERS
Stage 1 metallurgical testwork, including beneficiation and recovery studies, will continue.
Further metallurgical results are expected during H2 2026.
Preparations will continue for the planned 3,000 m AC/RC drilling program in Q3–Q4 2026.