The Day’s Play Edition 86: Gold resource growth, new discoveries and record drilling results | STN, DRE, 49M

Saturn Metals (ASX:STN)

Apollo Hill Resource Grows 26% To 2.83Moz

The Play

• Apollo Hill Mineral Resource increased 26% to 2.83Moz from the previous estimate.
• The update added 590,000oz of contained gold to the resource.
• Measured and Indicated Resources increased by 350,000oz to 2.19Moz.
• Higher confidence Measured and Indicated categories now represent 77% of the resource.
• The updated estimate incorporated 367 drill holes totalling 62,385m.

The Pitch

• Apollo Hill hosts a Mineral Resource of 174Mt @ 0.51g/t Au for 2.83Moz.
• The project is 100% owned and located near Leonora in Western Australia.
• The resource is reported within a single open pit constraining shell.
• Indicated Resources total 129Mt @ 0.51g/t Au for 2.10Moz.
• Measured Resources total 4.9Mt @ 0.55g/t Au for 87,000oz.

The Next Overs

• Apollo Hill Definitive Feasibility Study is targeted for release in late CY2026.
• An updated Apollo Hill Ore Reserve is targeted for release in late CY2026.
• Drilling continues to target near surface and lateral resource extensions.

Read full ASX Announcement here.

Dreadnought Resources (ASX:DRE)

New Gold Discovery Extends Beyond Resource Boundary

The Play

• New gold discovery confirmed north of Metzke’s Find across 150m strike.
• Discovery remains open northward and at depth following initial drilling.
• Mineralisation extends beyond a dyke previously interpreted as deposit termination.
• Resource extension drilling returned significant gold intercepts outside the current resource.
• Remaining 34 assays completed the 57 hole RC drilling program.

The Pitch

• Illaara Gold Project spans approximately 800km² across a 70km greenstone belt.
• Dreadnought holds 100% ownership of the Illaara Gold Project.
• Metzke’s Find hosts a 14,900 oz gold resource grading 6.8 g/t.
• Current resource contains 72% Indicated material within shallow mineralisation.
• Gold mineralisation occurs within stacked quartz lodes hosted by mafic sequences.

The Next Overs

• Resource update and upgrade scheduled for July 2026.
• Updated study follows completion of the resource update.
• RC and diamond drilling resumes at Metzke’s Find in July.

Read full ASX Announcement here.

49 Metals (ASX:49M)

Highest Grade Gold Mountain Intercept Returned To Date

The Play

• DRC#9 returned 27.4m @ 8.3g/t Au from 221.0m.
• The 227 gram metre intercept is the highest recorded at Gold Mountain.
• The interval included 9.1m @ 21.9g/t Au from 224.0m.
• A second mineralised zone returned 25.9m @ 1.4g/t Au from 158.5m.
• The high grade zone remains open at depth and in all directions.

The Pitch

• Gold Mountain is located within the Walker Lane Trend in Nevada.
• The project hosts a low sulphidation epithermal gold silver system.
• DRC#9 was drilled from the same collar location as DRC#8.
• Both holes intersected broad zones of oxide gold mineralisation.
• The deeper high grade zone occurs at a vertical depth of 200m.

The Next Overs

• Assays remain pending for completed holes DRC#10 to DRC#13.
• Additional drill pads are being constructed at the Adit Zone.
• Further drilling will test extensions to the high grade mineralisation.

Read full ASX Announcement here.

PhosCo (ASX:PHO)

DOH Discovery Adds Significant New Phosphate Scale At Gasaat

The Play

• Drilling confirmed DOH as a new phosphate discovery within the Gasaat Project.
• The phosphate horizon averaged 13m thickness across the drilled area.
• Mineralisation extends over a 1.3km strike length and more than 600m width.
• Multiple DOH drill holes returned phosphate intercepts exceeding 10m at approximately 20% P₂O₅.
• Results were consistent with phosphate mineralisation encountered across Gasaat.

The Pitch

• Gasaat hosts widespread marine carbonate hosted sedimentary phosphate mineralisation.
• DOH is a down faulted or slump block located east of GK.
• The prospect is between 600m and 750m wide and more than 1,300m long.
• The phosphate horizon occurs between Cretaceous marls and Eocene limestone.
• Seven drill holes have been completed at DOH to date.

The Next Overs

• Infill and extension drilling will be completed at DOH.
• Further drilling will define mineralisation extent ahead of resource estimation.
• Additional Gasaat drilling results are expected shortly.

Read full ASX Announcement here.

Strata Minerals (ASX:SMX)

Phase 2 Drilling Expands Zelica Multi Lode Gold System

The Play

• Phase 2 drilling intersected significant gold mineralisation in 16 of 17 extension holes.
• Stacked hanging wall lodes were confirmed across multiple drill sections.
• Additional drilling expanded the overall Zelica mineralised footprint.
• SZRC030 returned 12m @ 2.08g/t Au including 2m @ 7.58g/t Au.
• The program delivered a 94% hit rate across 2,209m drilled.

The Pitch

• Zelica hosts gold mineralisation across approximately 1km of drilled strike.
• Mineralisation has been defined to approximately 115m vertical depth.
• The system remains open along strike and at depth.
• Gold mineralisation is hosted within an east dipping shear zone.
• The broader project area covers an interpreted 9.5km mineralised corridor.

The Next Overs

• High resolution magnetic surveying across the Zelica tenement package.
• Follow up RC drilling targeting interpreted high grade plunging shoots.
• Regional and project scale aircore drilling across priority targets.

Read full ASX Announcement here.

Middle Island Resources (ASX:MDI)

Bobija Drilling Confirms Broader Continuous Mineralised System

The Play

• Phase 2 RC drilling extended mineralisation beyond previously defined areas.
• Drilling intersected significant mineralisation in areas previously interpreted as barren.
• Results supported continuity between the West and North mineralised zones.
• Every drill hole reported to date intersected significant mineralisation.
• Results supported a broadly continuous mineralised system across the mine area.

The Pitch

• Bobija is a polymetallic gold silver copper lead zinc project in Serbia.
• The project comprises six mineral licences covering 208km².
• Mineralisation is interpreted as a broad sub horizontal layer across the mine area.
• The Bobija mine area contains historic underground workings and drilling.
• Gold and silver occur alongside lead zinc copper and barite mineralisation.

The Next Overs

• Assay results remain pending from eight additional RC drill holes.
• Additional drilling is planned to assess mineralisation extent and continuity.
• Further soil sampling is underway in the Tisovik area.

Read full ASX Announcement here.

Medallion Metals (ASX:MM8)

Historical Drilling Validation Strengthens Lounge Lizard Model

The Play

• 212 historical drill holes were validated and added to the geological database.
• Validated drilling returned multiple high grade gold intersections beneath Lounge Lizard.
• Updated modelling confirmed continuity across the Main, Footwall and Hanging Wall lodes.
• Mineralisation remains open down dip and along strike.
• Validated drilling now defines mineralisation over 1km strike and 466m depth.

The Pitch

• Lounge Lizard forms part of the Forrestania Gold Project.
• Gold mineralisation occurs within a shear hosted Archean gold lode system.
• The deposit comprises Main, Footwall and Hanging Wall lodes.
• Lounge Lizard sits on granted Mining Lease M77/545.
• The deposit is approximately 14km from the Cosmic Boy Concentrator.

The Next Overs

• Assays pending from completed RC drilling beneath McMahon’s.
• Maiden Mineral Resource Estimate targeted for Q3 2026.
• Phase 1 DD/RC drilling planned beneath Lounge Lizard.

Read full ASX Announcement here.

High Tech Metals (ASX:HTM)

Wagtail Confirmed As Free Milling Gold Deposit

The Play

• Metallurgical testwork delivered estimated gold recoveries of up to 97.2%.
• Testwork confirmed Wagtail hosts free milling, non refractory gold mineralisation.
• Gold extraction remained high across grind sizes from 180µm to 75µm.
• Rapid leach kinetics extracted essentially all cyanide recoverable gold within 8 hours.
• Low cyanide and lime consumption supported favourable processing characteristics.

The Pitch

• Wagtail forms part of the Mt Fisher Gold Project in Western Australia.
• Metallurgical testing used composite samples generated from recent Wagtail drilling.
• Gravity recoverable gold averaged approximately 45% across the test program.
• The deposit demonstrated limited grind sensitivity across all sizes tested.
• Wagtail mineralisation is suitable for conventional gravity and CIL/CIP processing.

The Next Overs

• Assay results are anticipated from the current RC drilling program.
• An updated Wagtail Mineral Resource Estimate is expected in mid June 2026.
• Mining, toll treatment and development studies continue with SSH Mining Australia.

Read full ASX Announcement here.

Iron Bear Resources (ASX:IBR)

National Significance Application Lodged For Iron Bear Project

The Play

• System scale tungsten anomaly defined beyond historic Garnet Mine at Iron Bear lodged an application for Project of National Significance status in Canada.
• The application was submitted to Canada’s Major Projects Office.
• The application was made under the Building Canada Act enacted in June 2025.
• The framework was established to streamline approvals for major projects.
• The Iron Bear Project is seeking recognition under the new federal framework.

The Pitch

• Iron Bear hosts a JORC 2012 Mineral Resource of 13.6Bt @ 30% Fe.
• The resource includes 4.5Bt @ 29.5% Fe in the Indicated category.
• Vale has a development agreement to provide up to US$138M in funding to earn 75% of the project.
• The project is located less than 35km from an open access railway and export port.
• Pilot plant work produced DR grade concentrate grading 71% Fe and 1.2% SiO₂.

The Next Overs

• No formal next steps were disclosed in the announcement.
• No timeline for assessment of the application was provided.
• Recognition remains subject to review under the applicable framework.

Read full ASX Announcement here.

Litchfield Minerals (ASX:LMS)

Oonagalabi Drilling Improves Geological And Targeting Models

The Play

• Drilling confirmed broad copper zinc mineralisation across the Oonagalabi Main Zone.
• Results improved understanding of target geometry and structural controls.
• Multiple holes confirmed lateral and vertical continuity of mineralisation.
• OGRC029 returned 120m at 0.35% Cu, 0.92% Zn and 4.1g/t Ag from 52m.
• OGDD002 returned 68.26m at 0.62% Cu, 1.44% Zn and 4.3g/t Ag from 10m.

The Pitch

• Oonagalabi is a copper zinc silver project in the Northern Territory.
• The Main Zone contains broad stacked mineralised packages from near surface.
• Mineralisation remains associated with multiple target areas across the project.
• The project includes Main Zone, Bomb Diggity, VT1 and VT2 targets.
• The campaign comprised 11 RC holes and 3 diamond holes.

The Next Overs

• Assays remain pending from the mineralised zone in OGDD003.
• Integration of assays, petrology and geophysics to refine targeting models.
• Further drilling planned following interpretation of recent datasets.

Read full ASX Announcement here.

GoldArc Resources (ASX:GA8)

Eastern Sector Continuity Strengthens Mine Planning Dataset

The Play

• Continuous ore envelope confirmed across Mt Stirling’s eastern sector.
• Ten intercepts of 7m or greater returned grades of 1.38g/t Au or higher.
• Grade control drilling returned 17m @ 3.48g/t Au including 5m @ 8.56g/t Au.
• Grade control drilling returned 20m @ 1.85g/t Au including 1m @ 13.00g/t Au.
• High grade shoots persisted within the broader envelope, including 2m @ 26.10g/t Au.

The Pitch

• Mt Stirling hosts an Indicated Mineral Resource grading 2.1g/t Au.
• Gold mineralisation is hosted within the Hydra Fault in altered meta basalt.
• Gold is associated with silicified and sulphidic intervals containing elevated arsenic.
• The 34,000m grade control program is fully funded by BML Ventures.
• GoldArc retains 100% ownership of Mt Stirling under the profit share arrangement.

The Next Overs

• Continue the 34,000m RC grade control program at Mt Stirling and Stirling Well.
• Report further assay batches as processing and validation are completed.
• Complete the remaining portion of the 34,000m drilling program.

Read full ASX Announcement here.