The Day’s Play Edition 70: ASX iron ore, gold and critical minerals updates | Iron Bear resource growth, Laverton gold upgrade and antimony drilling momentum

Iron Bear Resources (ASX:IBR)

Bigger Indicated Tonnes Reset Development Confidence

Iron Bear materially increased study confidence by upgrading 4.5Bt to Indicated while tightening total inventory through stricter resource assumptions.

The Play

• Indicated resource increased 114% to 4.5Bt at 29.5% total Fe and 20.6% magnetic Fe.
• Total resource now stands at 13.6Bt at 30% total Fe and 20.7% magnetic Fe.
• Total resource reduced 18% after stricter geological interpretation and updated pit optimisation.
• DR concentrate achieved 71.0% Fe with 1.2% SiO2+Al2O3 and 88.8% magnetic Fe yield.
• BF concentrate achieved 69.1% Fe with 3.5% SiO2+Al2O3 and 97.5% magnetic Fe yield.

The Pitch

• Iron Bear controls 10 licences covering 7,275ha across 291 mineral claims.
• Project sits approximately 30km northwest of Schefferville in Newfoundland and Labrador.
• Deposit spans roughly 10km strike and approximately 5km width.
• Mineralisation remains open beyond current drilling boundaries.
• Low stripping ratio, hydropower access and nearby rail support development potential.

The Next Overs

• Progress ongoing Pre Feasibility Study work using updated optimisation parameters.
• Refine metallurgical assumptions through future study phases.
• Undertake future definition and exploration drilling programs.

Read full ASX Announcement here.

Verity Resources (ASX:VRL)

Maiden Indicated Resource Resets Monument Development Path

Verity converted Monument from an all-Inferred resource into a development-focused asset by lifting confidence, improving grade and adding underground optionality.

The Play

• Maiden Indicated resource totals 1.18Mt at 1.75g/t Au for 66,200oz gold.
• Open pit Indicated inventory contains 57,000oz at a 0.5g/t Au cut off.
• Grade increased approximately 20% versus the 2021 resource estimate.
• Underground resource adds 1.37Mt at 1.75g/t Au for 77,100oz below pit shells.
• Total MRE stands at 2.5Mt at 1.72g/t Au for 137,700oz gold.

The Pitch

• Monument is 100% owned and located in Western Australia’s Laverton Gold District.
• Korong and Waihi sit across approximately 20km of prospective BIF strike.
• Mineralisation is interpreted as analogous to nearby major Laverton gold systems.
• Only a small portion of the broader corridor has been systematically drilled.
• Approximately 60 additional priority targets have already been identified.

The Next Overs

• Advance scoping level mining and geotechnical studies.
• Assess development and third party processing pathways.
• Drill resource growth targets along strike and at depth.

Read full ASX Announcement here.

Mithril Silver and Gold (ASX:MTH)

300 Metre Step Out Expands High Grade Footprint

Mithril confirmed Target 1 extends beyond the 2021 resource boundary while lifting confidence ahead of the June resource update.

The Play

• Step out drilling confirmed mineralisation 300m west of the 2021 resource boundary.
• RE26 009 intersected 9.65m at 7.00g/t gold and 370g/t silver.
• RE26 009 included 0.50m at 30.70g/t gold and 1,780g/t silver.
• Resource drilling confirmed vein thickness and mineral continuity across Target 1.
• La Soledad drilling extended mineralisation southeast beyond the previous resource footprint.

The Pitch

• Target 1 hosts a maiden resource of 529,000oz at 6.81g/t AuEq.
• Indicated resource totals 691kt at 5.43g/t gold and 114g/t silver.
• Inferred resource totals 1.725Mt at 4.55g/t gold and 152g/t silver.
• Copalquin covers a 70km² mining district with dozens of historic workings.
• Mithril plans up to 25,000m of district drilling during 2026.

The Next Overs

• Complete the current Target 1 drilling program in mid May.
• Deliver the updated Mineral Resource Estimate in late June 2026.
• Continue mapping, sampling, magnetic interpretation and structural studies.

Read full ASX Announcement here.

GoldArc Resources (ASX:GA8)

Bonanza hits confirm Cosmopolitan extends beyond historic mining

GoldArc confirmed high grade mineralisation beyond historical workings, while a new Upper Zone expands Cosmopolitan’s discovery footprint.

The Play

• 23m at 11.31g/t Au confirmed a bonanza grade Main Zone intercept.
• Included 2m at 41.38g/t Au and 3m at 43.78g/t Au.
• New Upper Zone returned 1m at 45.86g/t Au from 41m.
• 18 holes for 2,022m intersected mineralisation across the full strike length tested.
• Mineralisation remains open along strike and at depth in both zones.

The Pitch

• Cosmopolitan historically produced approximately 360,000oz at an average grade of 15g/t Au.
• Cosmopolitan sits within GoldArc’s Leonora South Gold Project in Western Australia.
• Prospect is located 8km northeast of Orion and Sapphire.
• Orion and Sapphire host a combined 48,000oz at 2.2g/t Au resource.
• Leonora South is advancing under a profit share partnership with MMS.

The Next Overs

• Assess all 18 holes to define follow up drill priorities.

• Design drilling targeting strike and depth extensions in both zones.
• Integrate Cosmopolitan results with ongoing Leonora South drilling campaigns.

Read full ASX Announcement here.

Bioxyne (ASX:BXN)

$50m German supply deal secures revenue visibility

Bioxyne locked in contracted German demand with $25m committed in year one, reducing near term revenue uncertainty.

The Play

• $50m supply agreement secures a 24 month German sales pathway.
• $25m minimum commitment underpins first 12 month revenue visibility.
• ADREX received exclusive German rights to distribute Dr Watson®.
• Deal expands Bioxyne’s initial ADREX agreement signed in June 2025.
• Agreement automatically renews for a further 12 months.

The Pitch

• Breathe Life Sciences is Bioxyne’s wholly owned GMP licensed manufacturing subsidiary.
• BLS manufactures medicinal cannabis flower and other GMP products.
• ADREX imports, manufactures and distributes medicinal cannabis across Germany.
• Germany is Europe’s largest medicinal cannabis market.
• Bioxyne is expanding into pharmaceuticals and controlled substances markets.

The Next Overs

• Supply GMP manufactured cannabis products into Germany.
• Scale GMP certified manufacturing across regulated international markets.
• Expand broader pharmaceutical and controlled substances portfolio.

Read full ASX Announcement here.

Desert Metals (ASX:DM1)

All drill lines hit gold at Tiogo

Desert Metals confirmed Tiogo as a continuous gold corridor over ~1.5km, materially reducing continuity risk before deeper drilling.

The Play

• Tiogo now spans semi continuous ~1.5km north south mineralised strike.
• 40 aircore holes for 2,032m intersected gold across all seven drill lines.
• 4m at 19.48g/t gold from 42m delivered strongest intercept to date.
• 12m at 3.81g/t gold from 34m included 2m at 21.84g/t gold.
• Multiple holes ended in mineralisation, with system open north, south and depth.

The Pitch

• Tiogo sits within the Tengrela South project in northern Côte d’Ivoire.
• Project sits 30km and along strike from Perseus Mining’s Sissingué gold mine.
• Desert Metals holds an 80% interest in Tengrela South.
• Mineralisation is a structurally controlled quartz vein hosted gold system.
• Current drilling only reached saprolite and saprolitic bedrock transition zones.

The Next Overs

• Complete aircore drilling across remaining 200m and 400m gaps.
• Extend drilling north and south along open mineralised strike.
• Complete RC and/or diamond drilling to 150m to 250m depth.

Read full ASX Announcement here.

Koonenberry Gold (ASX:KNB)

Sunnyside deepens as second shoot potential emerges

Koonenberry extended Sunnyside deeper across multiple sections while identifying potential for a second plunging high grade shoot.

The Play

• Final three holes extended mineralisation 195m down dip on two sections.
• 26ENDD022 extended mineralisation 113m down dip on an adjacent section.
• 4.6m at 8.82g/t Au from 303m sat within 105m at 0.71g/t Au.
• 30m at 1.13g/t Au from 163m sat within 94m at 0.56g/t Au.
• Mineralisation now demonstrates continuity across five sections over +200m strike.

The Pitch

• Sunnyside extends from surface to an average depth of 370m.
• Maximum vertical depth now reaches 415m from surface.
• 17 of 22 holes drilled at Sunnyside intersected visible gold.
• Mineralisation remains open at depth and along NE and SW strike.
• Enmore contains over 30km of prospective regional structures.

The Next Overs

• Complete geological and structural interpretations for the next drilling phase.

• Receive Postman’s Gully assays expected in May 2026.
• Receive Hand in Hand assays expected in June 2026.

Read full ASX Announcement here.

EV Resources (ASX:EVR)

Shallow Antimony System Opens Resource Definition Path

EVR’s maiden drilling was designed to validate geology. It instead confirmed shallow antimony continuity across multiple holes and accelerated the pathway toward resource definition.

The Play

• Shallow antimony mineralisation hit in 4 of first 5 holes received.
• 3.05m @ 2.10% Sb from 8.1m confirmed high grade feeder potential.
• 2.0m @ 1.71% Sb from 9.35m extended shallow CRD continuity.
• Mineralised CRD horizon intersected at multiple locations from less than 10m depth.
• DDH_L1-11_26 stepped 200m southwest and confirmed broader replacement continuity.

The Pitch

• Los Lirios hosts a broad antimony carbonate replacement system in Oaxaca, Mexico.
• EVR completed 15 maiden diamond drill holes with assays received from 5 holes.
• Mineralisation remains shallow, tabular and gently folded, supporting lower cost drilling.
• Historical workings targeted higher grade feeder zones intersecting the CRD horizon.
• EVR is refurbishing the Tecomatlán processing plant for near term antimony production.

The Next Overs

• Receive remaining assay results from Phase 1 drilling.
• Design Phase 2 drilling to define scale and continuity.
• Progress toward maiden JORC Mineral Resource Estimate by Q3 CY2026.

Read full ASX Announcement here.

TMK Energy (ASX:TMK)

LF-07 Gas Rates Rise As Power Plans Advance

TMK Energy announced increased April gas production and operational initiatives across the Gurvantes XXXV Project in Mongolia.

The Play

• Reported 663m3/day April gas production, increasing 13% from February despite lower March production levels
• Confirmed LF-07 gas rates continued increasing following March curtailment under existing reservoir management practices
• Completed third independent technical review assessing drilling plans, reservoir management and optimisation techniques implementation
• Maintained approximately 490bbls daily water production despite LF-03 mechanical pump failure impacting monthly gas output
• Commenced discussions with government and consortium stakeholders regarding natural gas power generation opportunities across Mongolia

The Pitch

• Gurvantes XXXV Project targets coal seam gas production within Mongolia’s South Gobi energy region
• Existing reservoir management plan delivered increasing gas rates with stable water production across 9 months
• LF-01 through LF-07 wells form the current pilot production well network at project site
• Pilot Project gas utilisation agreement exists under signed MoU with Mongolian regulator MRPAM
• Australian Embassy and Austrade continue engagement supporting Australian CSG expertise and investment initiatives in Mongolia

The Next Overs

• Commence drilling new pilot production wells during Q3 2026 at Gurvantes XXXV Project

• Implement optimisation techniques identified through independent technical review across existing and planned wells
• Advance permanent power supply solution using Pilot Project gas for uninterrupted operations

Read full ASX Announcement here.

OD6 Metals (ASX:OD6)

Big Jim expands Quinn drill inventory

OD6 added a third high grade fluorspar target at Quinn, materially expanding its future drill pipeline.

The Play

• Big Jim rediscovery confirms a third extensive fluorspar system at Quinn.
• Historic workings extend more than 220m and remain open north and south.
• Historic reports recorded grades of 94.6%, 96% and 98.6% CaF₂.
• Footwall breccia reported grades up to 60% CaF₂.
• Rock and metallurgical samples were collected with assays pending.

The Pitch

• Big Jim sits approximately 1km NNE of the Horseshoe Fluorspar Deposit.
• Mammoth and Horseshoe host mineralisation mapped over 9,000m² and 3,000m².
• Quinn is located approximately 220km north of Las Vegas, Nevada.
• The United States imports 100% of domestic fluorspar demand.
• Quinn sits approximately 300km by road from Hawthorne Strategic Minerals Reserve.

The Next Overs

• Receive and interpret pending assay results from surface samples.

• Expand channel sampling, rock chip sampling and geological mapping.
• Identify drill targets, initiate permitting and progress metallurgical testwork.

Read full ASX Announcement here.

Archer Materials (ASX:AXE)

Archer advances qubit pathway toward wafer scale manufacturing

Archer is moving from laboratory validation toward scalable semiconductor production, strengthening the commercial pathway for its quantum devices.

The Play

• Archer remains on track to demonstrate a working qubit this year.
• Archer is advancing beyond laboratory devices toward wafer scale manufacturing.
• Multiple design, fabrication and testing cycles have been completed.
• Repeatable fabrication methods now support graphene based quantum device manufacture.
• Processes are being aligned with semiconductor industry standard environments.

The Pitch

• Archer develops quantum technologies across computing, sensing and medical diagnostics.
• Archer builds graphene based quantum devices within the semiconductor industry.
• Previous milestones include chip design validation and quantum signal detection.
• Graphene fabrication capabilities may support THz sensing, photonics and AI infrastructure.
• Archer targets integration into semiconductor supply chains and foundry environments.

The Next Overs

• Demonstrate a working qubit this year.

• Transfer fabrication processes into foundry compatible manufacturing environments.
• Improve qubit performance through continuous development programs.

Read full ASX Announcement here.