The Day’s Play Edition 71: ASX critical minerals, gold and copper updates | Nevada resource growth, fluorspar expansion and high grade drill results

Black Bear Minerals (ASX:BKB)

Independence MRE increased to 2.2Moz AuEq

Black Bear Minerals announced a 2.2Moz AuEq Mineral Resource Estimate for the Independence Project in Nevada.

THE PLAY

• Increased Independence Project resource to 2.2Moz AuEq including 1.0Moz high grade skarn mineralisation

• Expanded epithermal resource to 1.22Moz AuEq following updated modelling and extension drilling
• Recorded skarn inferred resource of 5.0Mt at 6.29g/t Au for 1,002,500oz contained gold
• Delivered 815,900oz resource increase since 2025 maiden estimate at AU$4.71 per ounce growth cost
• Confirmed skarn metallurgical recoveries up to 95.9% using gravity, flotation and cyanide leach testwork

THE PITCH

• Independence Project hosts epithermal mineralisation across 1.5km strike above high grade skarn mineralisation
• Epithermal resource totals 89.9Mt at 0.42g/t AuEq containing 1.22Moz AuEq and 20Moz silver
• Mineralisation remains open along strike and at depth across epithermal and skarn resource domains
• Project sits adjacent to Nevada Gold Mines’ Phoenix Project within Nevada’s Battle Mountain district
• Gold mineralisation within chert associated with heap leach extraction methods used across Nevada

THE NEXT OVERS

• Conduct exploration drilling across remaining 1km untested strike length along the Rebel Trend
• Drill southern epithermal zones targeting stacked mineralised lodes beneath historically drilled depths
• Test northern skarn extensions across 580m drilling gap surrounding historic hole WI 002

Read full ASX Announcement here.

Charger Metals (ASX:CHR)

Lithium extensions deepen Medcalf resource growth pathway

Charger Metals reported new spodumene drilling results from the Medcalf Deposit at Lake Johnston, Western Australia.

THE PLAY

• Confirmed 32m averaging 1.06% Li2O from CLMRC064DT extending spodumene mineralisation down dip

• Returned 20.7m averaging 0.93% Li2O from CLMRC065DT within stacked spodumene pegmatite lodes
• Reported 10.1m averaging 1.66% Li2O from CLMRC063DT across multiple spodumene intervals
• Confirmed lithium and tantalum mineralisation from surface extending approximately 700m down dip
• Completed 3,418m RC and diamond drilling during the March quarter across Medcalf and Xmas prospects

THE PITCH

• Medcalf forms part of the 100% owned Lake Johnston Lithium and Gold Project

• Medcalf hosts stacked spodumene bearing pegmatites dipping approximately 45 degrees from surface
• Maiden Medcalf Lithium Resource currently stands at 8.2Mt at 1.0% Li2O
• Lake Johnston sits approximately 200km from Esperance Port and nearby spodumene processing infrastructure
• Charger completed 75 RC and diamond holes across Medcalf and Medcalf West deposits

THE NEXT OVERS

• Revise Medcalf Lithium Resource estimate using completed March quarter drilling assays

• Review Mt Gordon exploration targeting following unsuccessful Xmas Gold follow up drilling
• Assess future exploration pathways across Mt Gordon gold and lithium prospects

Read full ASX Announcement here.

Evion Group (ASX:EVG)

U.S. Fluorspar deal accelerates critical minerals expansion

Evion announced an option acquisition over the CARP Fluorspar Project in Nevada alongside a A$6.5 million capital raising.

THE PLAY

• Secured Nevada fluorspar acquisition option covering 14 contiguous claims within Lincoln County historical mining district

• Recorded 44,900 tonnes at ~69% CaF₂ from four historical open pits between 1958 and 1971
• Expanded Nevada land position through 45 adjoining claims considered prospective for additional fluorspar mineralisation
• Raised A$6.5 million through placement supporting acquisition, exploration, graphite development and working capital requirements
• Committed US$3.75 million exploration expenditure across CARP Project over four years under acquisition option terms

THE PITCH

• CARP Fluorspar Project covers 117 hectares within Nevada’s historic Viola Mining District near Las Vegas

• United States currently imports 100% of fluorspar requirements with minimal domestic production since 1990
• Fluorspar classified critical mineral across United States, European Union, Australia, Canada and Japan supply frameworks
• Existing graphite operations supply expandable graphite products into United States and European industrial markets
• Maniry Graphite Project DFS outlined 60ktpa production potential across a 21 year operating life

THE NEXT OVERS

• JORC Exploration Target will quantify scale and grade potential.

• Targeted infill drilling is scheduled to begin in Q3 2026.
• Yaoundé laboratory will support analytical turnaround times.

Read full ASX Announcement here.

Austral Resources Australia (ASX:AR1)

Snow Queen copper hit enhanced by gold and silver assays

Austral Resources reported final gold and silver assays from drillhole 26SQRC001 at the Snow Queen Prospect within the Cameron River Project.

THE PLAY

• Confirmed 10m at 7.52% Cu, 9.28g/t Ag and 0.25g/t Au from 35m in drillhole 26SQRC001

• Included higher grade interval of 4m at 15.98% Cu, 16.22g/t Ag and 0.48g/t Au from 38m
• Received final gold and silver assays following previously reported high grade copper intersection
• Strengthened confidence in polymetallic copper gold silver mineralisation at Snow Queen
• Continued regional exploration strategy surrounding the Rocklands Processing Facility

THE PITCH

• Snow Queen located within the Cameron River Project in the Mt Isa region of Queensland

• Mineralisation hosted within brecciated Hardway Granite with actinolite albite alteration
• Chalcocite, chalcopyrite and possible bornite observed within the mineral assemblage
• Austral operates the Mt Kelly copper oxide heap leach and SX EW processing facility
• Rocklands acquisition expanded processing exposure across copper sulphides, copper oxides and gold

THE NEXT OVERS

• Receive pending assay results for drillhole 26SQRC002

• Resume regional drilling program targeting priority prospects during Q3 2026
• Continue near mine drilling across satellite copper targets
• Progress follow up drilling design work at Snow Queen

Read full ASX Announcement here.

Core Energy Minerals (ASX:CR3)

High grade TREO assays confirm elevated MREO at Campo Largo

Core Energy Minerals reported reconnaissance sampling results from the Campo Largo Rare Earth Element Project in Brazil, confirming elevated TREO and high proportions of magnetic rare earth oxides.

THE PLAY

• Reported TREO assays exceeding 1,000ppm across multiple reconnaissance rock chip samples at Campo Largo

• Returned peak assay result of 1,272ppm TREO with 46% MREO from sample ROC0181
• Identified deeply weathered saprolite clay profiles across the project area during initial field mapping
• Completed first pass reconnaissance including geological mapping, sampling and landholder engagement
• Advanced permitting and access arrangements ahead of planned auger drill testing program

THE PITCH

• Campo Largo Project located in Paraná State Brazil approximately 60km southwest of the Tunas Project

• Target model focused on ion adsorbed clay style rare earth mineralisation
• Intrusive systems interpreted to host elevated uranium thorium and potassium signatures associated with REE enrichment
• MREO proportions reached up to 46% across reported assay results
• Project comprises 4,369ha across 4 exploration licence applications held through wholly owned subsidiary Mineração Remo

THE NEXT OVERS

• Commence systematic auger drilling and sampling program during the current quarter

• Continue permitting and land access work across priority target areas
• Undertake detailed mapping and additional geochemical sampling programs

Read full ASX Announcement here.

Legacy Minerals (ASX:LGM)

8,000m drilling approvals secured at Mt Carrington

Legacy Minerals received NSW Government approvals for 8,000m of drilling across the Mascotte silver gold and Emu copper gold targets at the Mt Carrington Project in NSW.

THE PLAY

• Secured approvals for 16 diamond drillholes totalling 8,000m across Mascotte and Emu targets

• Mascotte Phase 2 program approved for 8 step out diamond holes targeting structural and depth extensions
• Emu program approved for first modern drill testing of the Emu Porphyry Core and Emu Alteration Halo SE targets
• Mascotte drilling designed to follow up historical silver intercepts including 18.3m at 237g/t Ag from 3m
• Drill rig mobilisation planned this month with drilling expected over the next 3 months

THE PITCH

• Mt Carrington hosts a 1.2Moz AuEq and 115Moz AgEq Mineral Resource across the broader caldera system

• Mascotte Prospect defined by approximately 1.3km strike of historical workings with elevated silver gold copper and zinc
• Mobile MT survey highlighted deep seated conductive structures associated with known deposits and untested prospects
• Emu interpreted as a discrete porphyry epithermal target within the Mt Carrington caldera margin trend
• Scoping Study optimisation work continuing alongside regional discovery drilling strategy

THE NEXT OVERS

• Receive pending assays from 7 Mascotte Phase 1 drillholes during June 2026

• Commence Mascotte Phase 2 and Emu drilling programs following rig mobilisation
• Continue Scoping Study optimisation work incorporating revised processing pathways

Read full ASX Announcement here.

Neurizon Therapeutics (ASX:NUZ)

Ethics approval clears Phase 1 oral liquid ALS study

Neurizon announced HREC approval for a Phase 1 NUZ 001 oral liquid formulation study supporting ALS development.

THE PLAY

• HREC approval supports Phase 1 oral liquid formulation study advancing NUZ 001 ALS development program

• Oral liquid formulation targets swallowing difficulties affecting ALS patients during progressive disease advancement stages
• 32 healthy volunteers enrolled across randomised four arm Australian Phase 1 clinical formulation study
• Pharmacokinetic, safety and tolerability data collection supports broader clinical and regulatory development activities
• Ongoing HEALEY ALS Platform Trial participation continues alongside oral liquid formulation development programme

THE PITCH

• NUZ 001 remains Neurizon’s lead investigational therapeutic candidate targeting amyotrophic lateral sclerosis treatment globally

• Oral liquid formulation developed to improve administration flexibility, treatment accessibility and continuity across disease progression
• ALS progression commonly impairs speech and swallowing function, increasing demand for alternative administration approaches
• Phase 1 study evaluates NUZ 001 oral liquid and tablet formulations under fed and fasted conditions
• Study includes exploratory biomarker and palatability assessments supporting broader formulation development programme objectives

THE NEXT OVERS

• Remaining operational and site initiation activities scheduled before targeted Q3 CY2026 study commencement

• Phase 1 study completion anticipated during Q4 CY2026 following volunteer enrolment and treatment activities
• Pharmacokinetic, safety and tolerability datasets expected supporting future clinical and regulatory development activities

Read full ASX Announcement here.

Conico (ASX:CNJ)

Greenland licence applications add REE and Au PGE projects

Conico lodged exploration licence applications across the Kai and Lilloise projects in East Greenland adjacent to its existing Ryberg tenure.

THE PLAY

• Applied for 2 district scale Greenland projects prospective for REE and Au PGE mineralisation

• Kai Project covers an approximately 33km alkaline intrusion prospective for hard rock REE mineralisation
• Lilloise Project hosts an approximately 10km ultramafic intrusion prospective for Skaergaard style Au PGE systems
• Pending licence grants would expand Conico’s Greenland landholding to approximately 6,460km²
• Projects have seen limited historical exploration activity
• No modern systematic REE focused exploration previously completed at Kai

THE PITCH

• Kai intrusion hosts identified REE bearing minerals including eudialyte group minerals apatite titanite and perovskite

• Lilloise intrusion contains layered geological architecture comparable to the nearby Skaergaard intrusion
• Ryberg Project already covers 4,941km² across prospective Cu Ni PGE Au targets in East Greenland
• Greenland increasingly recognised as a developing REE jurisdiction with multiple alkaline intrusive provinces
• Conico intends to apply modern mapping geophysics and sampling programs across both project areas

THE NEXT OVERS

• Await grant outcome for Kai and Lilloise exploration licence applications

• Complete geological mapping and geophysical targeting across priority intrusive systems
• Generate new drill targets across REE and Au PGE target zones

Read full ASX Announcement here.

Brookside Energy (ASX:BRK)

Riverbend leasing advances with more than 40% of initial strategic leasehold secured

Brookside advanced leasing, title and development planning activities at the Riverbend Area of Interest in the Anadarko Basin, Oklahoma, securing more than 40% of its initial strategic leasehold objective.

THE PLAY

• Riverbend AOI located in the Anadarko Basin, Oklahoma

• More than 40% of initial strategic leasehold objective secured
• Existing operated SWISH position supports broader basin footprint
• Technical and land analysis expanded across the broader fairway
• Riverbend remains in land, title and regulatory planning phase

THE PITCH

• Leasing focused on priority Riverbend areas

• Acreage capture targeted strategically located leasehold positions
• Regulatory and development planning advanced across the AOI
• Additional prospective acreage remains under evaluation
• Reserve definition activity targeted within future development pathway

THE NEXT OVERS

• Leasehold capture continues across priority areas

• Regulatory approvals and permitting remain in progress
• Reserve definition drilling remains subject to consolidation and approvals

Read full ASX Announcement here.

Nexsen (ASX:NXN)

First Asia hospital partner advances diagnostic commercialisation pathway

Nexsen announced a binding collaboration framework with GHK Hospital for clinical validation and commercialisation activities.

THE PLAY

• Binding term sheet establishes strategic collaboration framework for Nexsen’s rapid point of care diagnostics.

• GHK provides access to patient populations and hospital workflows supporting clinical validation activities.
• IHH Healthcare network spans 190 healthcare facilities across 10 countries including 89 hospitals.
• Collaboration includes reimbursement feasibility assessments across Hong Kong and broader North Asia healthcare markets.
• Parties intend definitive collaboration agreements within 6 months covering proposed commercialisation and research activities.

THE PITCH

• Gleneagles Hospital Hong Kong operates a 500 bed multi specialty private tertiary teaching hospital.

• Nexsen develops rapid point of care diagnostics delivering lab grade results outside laboratory environments.
• GBS Rapid Sensor targets Group B Streptococcus detection within maternal health diagnostic workflows.
• Kidney Function diagnostics target Acute Kidney Injury and Chronic Kidney Disease diagnostic requirements.
• Asia Pacific strategy includes HK$6 million IGNITE Grant and Universiti Malaya research facility.

THE NEXT OVERS

• Parties progressing definitive agreements formalising collaboration workstreams within contemplated 6 month period.

• Initial activities focus clinical validation and real world assessments across North Asia affiliated entities.
• U.S. clinical site activation and FDA 510(k) submission activities continue progressing in parallel.

Read full ASX Announcement here.

Terrain Minerals (ASX:TMX)

New IP program targets potential repeat lightning structures at Smokebush

Terrain Minerals commenced an induced polarisation survey targeting potential repeat Lightning style gold structures at the Smokebush Gold and Silver Project in Western Australia.

THE PLAY

• Commenced one of the Company’s largest IP surveys across Mining Lease M59/796 at Smokebush

• Targeting previously untested ground within the same north south shear corridor that hosts Lightning mineralisation
• Extended IP coverage across the historic Hurley prospect where prior drilling intersected 10m at 1.4g/t Au from 15m
• Applied the same IP method previously used across the Lightning and Wildflower target areas
• Continued advancement toward maiden Lightning Mineral Resource Estimate scheduled for July 2026

THE PITCH

• Survey area positioned between the Lightning Gold Prospect and historic Black Dog open cut gold mine

• Terrain has completed more than 16,000m of drilling at Lightning including 97 RC holes and 4 diamond holes
• Mining Lease M59/796 granted through to 2046 across the core Smokebush project area
• Wildflower drilling assays expected imminently following early 2026 drilling program
• IP program designed to generate additional drill ready targets across the broader Smokebush system

THE NEXT OVERS

• Complete field acquisition program during June 2026

• Finalise IP processing, imaging and 2D and 3D inversion modelling with Newexco Exploration
• Report drill ready IP targets in July 2026 alongside maiden Lightning and Monza Mineral Resource Estimate

Read full ASX Announcement here.