The Day’s Play Edition 78: ASX copper, antimony and resource growth updates | Midas continuity, Locksley drilling and Kuniko extensions

Midas Minerals (ASX:MM1)

High Grade Continuity Strengthens Across T-13 Zones

Midas improved definition of high grade continuity at T-13 while first infill drilling at T13 West confirmed another higher grade zone.

The Play

• T13DD005a returned 50.6m at 7.81% CuEq including 14.4m at 20.9% CuEq

• 46.2m at 4.01% CuEq returned from T13DD009 Main Zone
• 41.9m at 3.70% CuEq returned from T13DD013 Main Zone
• First T13 West infill hole returned 27m at 1.46% CuEq
• T13DD010 returned 39.3m at 4.01% CuEq including 7.3m at 8.10% CuEq

The Pitch

• T-13 Deposit extends for about 1.4km of strike

• Main Zone holes were drilled on nominally 100m spaced sections
• Western Zone lies about 600m west of Main Zone
• Initial MRE stands at 10.5Mt @ 1.6% copper and 21g/t silver
• 5 rigs operate across the Otavi Project

The Next Overs

• MRE update for T-13 expected later in 2026

• Another core rig planned to commence shortly
• Continue drilling at T-13, Deblin and Spaatzu

Read full ASX Announcement here.

Locksley Resources (ASX:LKY)

High grade antimony extends below historic workings

Locksley Resources reported maiden drilling assay results from the Desert Antimony Mine, California.

The Play

• Returned 4.0m at 4.87% Sb including 0.4m at 33.51% Sb

• Reported 1.4m at 5.62% Sb from hole DADD0004
• Reported 2.0m at 2.69% Sb from hole DADD0003
• Confirmed antimony mineralisation below historical workings in all drilled holes
• Completed 8 diamond drill holes totalling 1,065m at Desert Antimony Mine

The Pitch

• Desert Antimony Mine contains quartz stibnite veins within granitic host rocks

• Mineralisation occurs within subvertical veins and associated vein breccias
• Historical underground workings occur above newly drilled mineralised intervals
• Mojave Project targets antimony and rare earth elements in California, USA
• El Campo prospect remains under assay following completed diamond drilling

The Next Overs

• Report remaining DAM and El Campo assay results as received

• Integrate drilling results into updated 3D geological models
• Continue structural interpretation, radiometrics, mapping and regional sampling

Read full ASX Announcement here.

Kuniko (ASX:KNI)

High Grade Results Extend Commonwealth Silica Hill

Kuniko validated mineralisation beyond the current envelope, supporting Phase 2 drilling after Phase 1 system extensions.

The Play

• CMKNI006 returned 7.1m @ 8.4 g/t Au and 42 g/t Ag

• Significant mineralisation extensions confirmed beyond current mineralisation envelope
• 100m step out at Silica Hill returned 3.4m @ 4.1 g/t Au
• All 6 Phase 1 holes intersected sulphide mineralisation
• CMKNI005 returned 16m @ 0.6 g/t Au and 804 ppm Cu

The Pitch

• Commonwealth and Silica Hill are 2 genetically related deposits

• Drilling supports a broader structurally controlled mineralised corridor
• Phase 1 drilling totalled 6 HQ3 diamond holes for 1,239m
• CMKNI006 confirmed continuity of the high grade lode
• Silica Hill includes a new offset zone of mineralisation

The Next Overs

• Commence Phase 2 drilling in early July with secured diamond rig

• Target larger step out extensions and higher grade zones at depth
• Refine regional drill targets through MobileMT targeting review

Read full ASX Announcement here.

West Cobar Metals (ASX:WC1)

District Scale Copper Footprint Expands In Cobar

WC1 secured broader Cobar copper exposure after EL9915 expanded tenure and advanced concealed targets toward drilling.

The Play

• EL9915 grant secured district-scale copper expansion in the Cobar Basin

• WC1 now holds ~1,090km² tenure across ~120km prospective Cobar stratigraphy
• Blind Freddie has >2.5km copper and gold anomaly with major structure
• Lilyvale gravity target is larger and stronger than Bulla Park
• Multiple concealed copper targets sit beneath shallow cover

The Pitch

• Bulla Park Resource remains open at 20Mt @ 0.58% CuEq

• Bulla Park lies beneath 60–120m of barren cover
• Blind Freddie is partially concealed beneath Mulga Downs sediments
• Cobar West Project includes 6 granted Exploration Licences
• Bulla Park deposit is the copper antimony silver analogue

The Next Overs

• Conduct gravity surveys across selected priority target zones

• Complete RAB drilling at Blind Freddie
• Progress RC drilling at Blind Freddie, Lilyvale and Bulla Park

Read full ASX Announcement here.

Belararox (ASX:BRX)

Toro High Grade Hits Reinforce Drill Focus

Belararox confirmed further high grade polymetallic mineralisation at Toro Central, sharpening structural targeting ahead of renewed drilling.

The Play

• Further high grade mineralisation identified in TMT-TC-DDH-004 at Toro Central

• 1.75m interval returned 312g/t Ag, 25.4% Zn and 2.24% Cu
• Additional 7m copper rich interval returned 0.63% Cu
• Results support structural control linked to complex fault architecture
• Narrow high grade polymetallic mineralisation remains within Toro Central

The Pitch

• Toro Central targets near surface high grade epithermal mineralisation

• Mineralisation includes silver, copper, zinc and gold at Toro Central
• Surface sampling extends across more than 750m of strike
• Toro South TMT-TS-DDH-002 returned no significant mineralisation
• Latest results support structurally controlled mineralisation at Toro Central

The Next Overs

• Re-log Toro Central and Toro South holes during off-season

• Reinterpret geology, geophysics and assay geochemistry for vectoring
• Plan further drilling at Toro and Tambo South later 2026

Read full ASX Announcement here.

Terrain Minerals (ASX:TMX)

Lightning Moves Closer To Maiden Resource

Terrain reduced execution risk at Lightning as final technical and approvals workstreams progressed toward a July 2026 maiden ‘Starter’ MRE.

The Play

• DGPS drill collar survey is completed to improve spatial reliability

• Flora and Fauna Survey is underway across Lightning and Wildflower tenements
• Haul Road Application was submitted for ~7km infrastructure corridor
• Topographic Drone Survey will commence this Quarter over M59/0796
• Metallurgical sampling first pass has commenced

The Pitch

• Maiden ‘Starter’ MRE remains targeted for July 2026

• Lightning sits within the 100% owned Smokebush Gold & Silver Project
• Mining Lease M59/0796 has already been granted over Lightning
• Diamond drilling has been completed for density and orientation data
• Lightning is located 350km north of Perth in Western Australia

The Next Overs

• Complete Topographic Drone Survey over M59/0796

• Finalise Flora and Fauna Survey workstreams
• Complete final technical and regulatory steps before maiden MRE

Read full ASX Announcement here.

Resolution Minerals (ASX:RML)

Visual Sulphides Strengthen Golden Gate Drill Confidence

Resolution identified strong sulphides, alteration and veining in all first 3 holes, improving geological confidence in a previously undrilled area south.

The Play

• Strong sulphides, alteration and veining identified in all 3 holes

• Pervasive metal sulphides logged in altered sheared faulted granites
• Mineralisation shares characteristics with previous well mineralised Golden Gate holes
• 3 drill holes completed for 763m cumulative total depth
• Second drill rig arrived on site to fast track program

The Pitch

• Drill Program targets gold and tungsten mineralisation at Golden Gate

• First 3 holes sit ~500m south of 2025 drilling area
• Golden Gate sits within Horse Heaven Antimony Tungsten Gold Silver Project
• Program comprises up to 13,700 planned metres and 45 holes
• Pyrite and arsenopyrite were visually logged in mineralised core

The Next Overs

• Second MP1500 drill rig expected to begin drilling early next week

• Include areas north of Golden Gate North target
• Release drill hole results to market upon receipt

Read full ASX Announcement here.

Vection Technologies (ASX:VR1)

Recurring Order Flow Expands Across Defence And AI

Vection expanded FY26 recognised revenue through ~$1.1m in new Defence and AI orders across defence and 4 enterprise verticals.

The Play

• Combined new orders reached approximately ~$1.1m fully recognised in FY26
• Defence extension of $572k secured from existing classified defence partner
• New Algho AI orders totalled $513k across 4 enterprise verticals
• Cumulative Defence Programme orders reach approximately $30.6m
• Dell Technologies powered defence extension reinforced partner continuity

The Pitch

• Defence programme is a multi year classified engagement

• Algho AI spans Corporate Consultancy, Public Administration, Industrial Manufacturing and Banking
• Both order streams are profitable and fully recognised in FY26
• Defence portfolio is shifting further toward proprietary solutions
• Orders build recurring multi customer revenue base

The Next Overs

• Deliver defence extension under the classified engagement

• Deploy Algho AI contracts across 4 enterprise verticals
• Expand scope of the defence programme

Read full ASX Announcement here.

Tyranna Resources (ASX:TYX)

Manganese Results Expand Chinguar Beyond Gold

Tyranna expanded Chinguar beyond gold after rock chip assays exceeding 30% Mn identified a second mineral focus.

The Play

• Manganese assays exceeded 30% Mn from 2 Mina de Colemba rock chips

• 6 costeans tested upwards of 800m of Mina de Colemba outcrop
• Positive gold results came from 2 heavy mineral samples
• SS035 reinforced the gold anomaly identified at SS039
• Rock chips came from outcrops near likely colonial aged costeans

The Pitch

• Chinguar Project covers a granted 3,342km2 Prospection Title in Angola

• Tyranna holds 75% through its controlled entity Luvulu Angola LDA
• Chinguar sits 50 km northeast of Angola’s 2nd largest city Huambo
• The project was acquired for gold prospectivity before manganese was identified
• EN250 and the Benguela Railway cross the project area

The Next Overs

• Refurbish and sample costeans at Mina de Colemba Mn Prospect

• Complete infill stream sediment sampling upstream of SS035 and SS039
• Undertake soil sampling leading to drilling at Consito Alto Prospect

Read full ASX Announcement here.

TMK Energy (ASX:TMK)

TMK moves produced gas toward first commercial use

TMK moved beyond gas production by securing infrastructure to convert produced gas into usable power, accelerating early commercialisation.

The Play

• TMK signed an MoU with Dashvaanjil for its first power project.

• Initial agreement targets power generation of up to 1MW.
• The project will utilise gas from Gurvantes XXXV.
• Dashvaanjil LPG provides backup fuel under a dual fuel model.
• First power generation is targeted by end Q3 2026.

The Pitch

• Gurvantes XXXV is TMK’s Pilot Well Project in Mongolia.

• Dashvaanjil is Mongolia’s largest LPG import and distribution company.
• Dashvaanjil operates across all 21 Mongolian provinces.
• TMK is currently producing gas from the Pilot Well Project.
• Excess power may be sold to local industrial customers.

The Next Overs

• Complete engineering and design by end Q2 2026.

• Execute commercial framework agreements after design completion.
• Move into construction, commissioning and first power generation.

Read full ASX Announcement here.