The Day’s Play Edition 92: Corporate restructures, production milestones and emerging mineral systems | WCN, SMS, LSR

THE COIN TOSS

WCN – White Cliff completed the Great Bear divestment and retained a 9.99% ownership position in Great Bear Exploration.

LNQ – LinQ Minerals extended the high grade gold copper core at the Dam 100m downdip, returning multiple thick gold equivalent intersections including 141m at 0.88g/t AuEq.

SMS – Star Minerals mined and stockpiled first mineralised material at Tumblegum South as operations advance toward initial processing.

AOK – Australian Oil advanced Major Gas Field commercial negotiations while gas volume mapping and resource work approached completion across PL 512.

GNM – Great Northern delivered a maiden 480,000oz gold and 11.5Moz silver Inferred Resource at Iron Butte in Nevada.

LSR – Lodestar Minerals confirmed IOCG style mineralisation across a 600m drill hole at Three Saints with copper, gold, cobalt and molybdenum intersected throughout the system.

SLS – Solstice Minerals extended Nanadie copper gold mineralisation 160m beyond the current resource boundary with multiple wide step out intercepts across a growing 1.2km strike extent.

PUR – Pursuit Minerals secured 1,362ha adjoining Rio Grande Sur, expanding the project footprint to approximately 10,595ha and securing 100% mining rights across the acquired tenure.

MRQ – MRG Metals lodged a Mining Right Conversion Application for Garies, advancing the rare earth project into formal South African regulatory assessment.

ETM – Energy Transition Minerals identified a new 1.8km rare earth trend at Kvanefjeld with uranium below 100ppm and defined 10 previously unknown target zones.

EIQ – Echo IQ secured a Mayo Clinic research collaboration to evaluate AI driven cardiac risk stratification in oncology patients using echocardiographic data.

White Cliff Minerals (ASX:WCN)

Great Bear Divestment Completed With Cash Received

THE PLAY

  • Great Bear Project divestment completed following satisfaction of all transaction conditions.

  • Company received A$1.2M cash consideration upon settlement completion.
  • Company received 230,000,000 Great Bear Exploration shares valued at A$4.6M.
  • 97,583,332 Great Bear Exploration shares distributed to eligible shareholders in specie.
  • Company retained 69,804,985 Great Bear Exploration shares representing 9.99% ownership.

THE PITCH

  • Retained holding represents 9.99% of Great Bear issued share capital.
  • Company received 230,000,000 Great Bear Exploration shares as consideration.
  • Great Bear shares received by WCN are subject to ASX escrow.
  • Escrow period applies for 24 months from recommencement of quotation.
  • WCN holds ineligible shareholder entitlements during the escrow period.

THE NEXT OVERS

  • WCN will hold ineligible shareholder entitlements during the escrow period.
  • Company will arrange sale of those shares after escrow expiry.
  • Sale proceeds will be returned to ineligible WCN shareholders.

Read full ASX Announcement here.
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LinQ Minerals (ASX:LNQ)

High Grade Gold Copper Core Extends 100m Downdip

THE PLAY

  • TDRCD006 extended the high grade gold-copper core 100m downdip.

  • 141m at 0.88g/t AuEq intersected from 183m in TDRCD006.
  • 101m at 0.68g/t AuEq and 131m at 0.67g/t AuEq returned at shallow depths.
  • TDRCD010 intersected 8m at 1.56g/t AuEq outside the current resource.
  • Gold rich zone intersected outside the current resource remains open.

THE PITCH

  • The Dam deposit forms part of the Southern Zone Gilmore Project.

  • Southern Zone spans a mineralised corridor exceeding 6km strike length.
  • Gilmore contains defined mineral resources at Gidginbung and the Dam.
  • Gilmore Project is 100% owned and located in New South Wales.
  • Company holds approximately 597km² of tenements across the project area.

THE NEXT OVERS

  • Results pending from 6 additional holes completed at the Dam.

  • Results pending from 7 additional holes completed at Monza.
  • Further drilling assay results expected later this month and into July.

Read full ASX Announcement here.
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Star Minerals (ASX:SMS)

First Mineralised Material Mined And Stockpiled

THE PLAY

  • First blast of mineralised material successfully mined at Tumblegum South.

  • Mineralised material has been stockpiled on the ROM pad.
  • Material and waste movements commenced following the initial blast.
  • Mining activities are progressing on schedule at the project site.
  • ROM stockpiles are building ahead of first processing at Plutonic.

THE PITCH

  • Tumblegum South is a gold project located in Western Australia.

  • Mining is being undertaken by MEGA Resources under a Right to Mine Agreement.
  • Catalyst Metals will process material under a toll treatment agreement.
  • Tumblegum South hosts a Mineral Resource of 616kt at 2.28g/t Au.
  • The resource contains 45koz gold across indicated and inferred categories.

THE NEXT OVERS

  • First processing planned at Catalyst Metals’ Plutonic mill.

  • Mining and haulage activities expected to ramp up over coming weeks.
  • Grade control and stockpile management continuing alongside mining activities.

Read full ASX Announcement here.

The Day's Play Sponsor: Frontline Drilling

Australian Oil Company (ASX:AOK)

Major Gas Field Commercial Discussions Mature

THE PLAY

  • Major Gas Field commercial negotiations advance alongside near complete gas volume mapping.

  • Major Gas Field resource work nears completion across the PL 512 asset.
  • New exploration targets identified from geophysical and geochemical anomalies beyond Emu Apple.
  • DETSI approval received to operate transferred Surat Basin assets.
  • Second lifting completed with 422 barrels from Emu Apple Oil Field.

THE PITCH

  • Surat Basin portfolio includes oil production, gas development and exploration acreage.

  • Emu Apple operates under an existing crude oil and condensate lifting agreement.
  • Major Gas Field contains suspended gas and condensate production infrastructure.
  • Riverslea and Yapunyah form part of the PL 30 development area.
  • Company holds conventional oil and gas exploration and production assets.

THE NEXT OVERS

  • Riverslea crude assay results expected within the next fortnight.

  • Condensate and acid wash operations planned at Emu Apple next month.
  • Next Emu Apple oil lifting likely during early to mid July.

Read full ASX Announcement here.
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Great Northern Minerals (ASX:GNM)

Maiden 480,000oz Gold Resource Established At Iron Butte

THE PLAY

  • Maiden Inferred Resource delivered for the Iron Butte Gold Silver Project.

  • Resource totals 37.85Mt at 0.4g/t Au and 6g/t Ag.
  • Resource contains 480,000oz gold and 6.7Moz silver.
  • Additional silver resource totals 19.25Mt at 8g/t Ag.
  • Combined resources contain 480,000oz gold and 11.5Moz silver.

THE PITCH

  • Iron Butte is located in Nevada’s Battle Mountain Cortez Mining District.

  • Mineralisation is interpreted as an epithermal gold silver system.
  • A significant portion of the resource comprises near surface oxide material.
  • The Mineral Resource is classified entirely as Inferred under JORC 2012.
  • Resource estimation was completed by ERM Australia Consultants.

THE NEXT OVERS

  • Priority drill targets are being defined from geophysical reinterpretation.

  • Planning and permitting activities have commenced for maiden drilling.
  • Company is targeting commencement of drilling in Q3 CY2026.

Read full ASX Announcement here.
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Lodestar Minerals (ASX:LSR)

Three Saints Drilling Confirms IOCG Mineralising System

THE PLAY

  • L3SRD003 assays confirmed IOCG style mineralisation at the Three Saints Project.

  • Copper, gold, cobalt and molybdenum mineralisation identified across multiple mineralisation events.
  • Anomalous mineralisation extends from 196m depth to EOH at 600m.
  • Highest assay returned 0.42m at 1.18% CuEq including 0.77% Cu and 0.38g/t Au.
  • Mineralised footprint exceeds 1.6km width and remains open in all directions.

THE PITCH

  • Three Saints is an IOCG exploration project located in Chile.

  • Lodestar owns 100% of the project through subsidiary Tesoro Andes.
  • L3SRD003 is the first drill hole completed at the project.
  • Mineralisation comprises IOCG style and hydrothermal mineralising events.
  • The target is associated with a geophysical anomaly exceeding 1.6km width.

THE NEXT OVERS

  • Assay results from hole L3SDD004 are expected within the next month.

  • Magnetic geophysical datasets will be reprocessed using new drilling information.
  • Updated targeting will focus on the interpreted core of the mineralising system.

Read full ASX Announcement here.
The Day's Play Sponsor - Relait

Solstice Minerals (ASX:SLS)

Step Out Drilling Extends Nanadie Beyond Resource Boundary

THE PLAY

  • Step out drilling extended copper-gold mineralisation 160m beyond the resource boundary.

  • NANRC030 returned 44m at 0.52% Cu and 0.14g/t Au.
  • NANRC029 returned 32m at 0.60% Cu and 0.18g/t Au EOH.
  • NANRC028 returned 26m at 0.60% Cu and 14m at 0.89% Cu.
  • Mineralisation now extends across approximately 1.2km strike and remains open northward.

THE PITCH

  • Nanadie is a 100% owned copper-gold project in Western Australia.

  • Nanadie is located on a granted Mining Lease northwest of Sandstone.
  • The project hosts an Inferred Mineral Resource of 40.4Mt.
  • Resource grade stands at 0.4% Cu and 0.1g/t Au.
  • The resource contains 162,000t copper and 130,000oz gold.

THE NEXT OVERS

  • Further northern step out drilling will continue along strike.

  • Assays expected from diamond hole NANRCD004 within 3 to 4 weeks.
  • RC and diamond assay results are expected over coming months.

Read full ASX Announcement here.

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Pursuit Minerals (ASX:PUR)

Rio Grande Sur Expanded Through Strategic Tenure Acquisition

THE PLAY

  • Pursuit secured exploration and acquisition rights over 1,362ha from REMSA.

  • Acquired tenure directly adjoins the Company’s Mito tenement.
  • Rio Grande Sur Project footprint increased to approximately 10,595ha.
  • Pursuit secured 100% of all mining rights arising within the areas.
  • REMSA retains no royalty, residual interest or future claim.

THE PITCH

  • Rio Grande Sur is a lithium project located within the Rio Grande Salar.

  • Rio Grande I and Demasía Rio Grande I cover approximately 1,362ha.
  • Rights include exploration, concession applications and title registration rights.
  • Agreement requires US$125,000 consideration and a US$25,000 provincial contribution.
  • Pursuit committed to a minimum US$150,000 exploration program over 12 months.

THE NEXT OVERS

  • DDH-3 drilling is scheduled to commence shortly at Rio Grande Sur.

  • Environmental submissions for the new tenure areas are expected in coming weeks.
  • Hydrogeological studies and geophysical data integration are continuing.

Read full ASX Announcement here.
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MRG Metals (ASX:MRQ)

Garies Enters Formal Mining Right Review

THE PLAY

  • Mining Right Conversion Application lodged for the Garies Rare Earth Project.

  • Application seeks conversion of existing prospecting tenure into a Mining Right.
  • Application supported by metallurgical testwork and an economic assessment.
  • Water Use Licence and Waste Licence applications have been initiated.
  • Formal South African regulatory review process commences with an estimated ~300 day timeline.

THE PITCH

  • Garies is a rare earth project located in South Africa’s Northern Cape.

  • Mining Right application has been submitted for an initial 10 year period.
  • DrillTarg represents 1 of 23 identified rare earth targets at Garies.
  • Metallurgical testwork achieved approximately 72% monazite recovery.
  • Testwork produced a saleable monazite concentrate with further optimisation potential.

THE NEXT OVERS

  • Progression of the Mining Right application process with the DMPR.

  • Infill and extension drilling planned at the DrillTarg target.
  • Metallurgical optimisation targeting recoveries exceeding 80%.

Read full ASX Announcement here.

The Day's Play Sponsor - MPH Lawyers

Energy Transition Minerals (ASX:ETM)

1.8km Low Uranium Rare Earth Trend Identified

THE PLAY

  • New 1.8km REE mineralised trend identified with uranium below 100ppm.

  • 10 previously unknown high priority REE target zones identified across Kvanefjeld.
  • Peak rock chip grades reached 39,695ppm TREO from newly sampled areas.
  • 214 rock chip samples confirmed extensive outcropping REE mineralisation.
  • New REE mineralised trachyte target identified with uranium below 100ppm.

THE PITCH

  • Kvanefjeld is a rare earth project located in south western Greenland.

  • 2025 field program visited 772 sites and collected 214 rock samples.
  • Exploration targeted under explored areas within the Kvanefjeld licence area.
  • REE mineralisation is primarily hosted within lujavrite and naujaite units.
  • The licence area contains the Kvanefjeld, Sørensen and Zone 3 deposits.

THE NEXT OVERS

  • GM will file its consultation response on 15 June 2026.

  • GM will object to the proposed exploration licence extension denial.
  • ETM and GM will take legal measures to preserve their rights.

Read full ASX Announcement here.
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Echo IQ (ASX:EIQ)

Mayo Clinic To Evaluate Cardiac Risk AI

THE PLAY

  • May delivered the strongest metallurgical performance since Blackjack reResearch collaboration secured with Mayo Clinic to evaluate Echo IQ’s AI platform.

  • Study will assess cardiac risk stratification in patients receiving cancer therapy.
  • AI model will generate heart failure risk scores from echocardiographic parameters.
  • Research will be conducted at Mayo Clinic Arizona.
  • Study evaluates the platform in a cardio oncology patient population.

THE PITCH

  • Echo IQ develops AI driven software for cardiology decision support.

  • Study uses routinely acquired echocardiographic data from oncology patients.
  • De identified echocardiographic data will be processed in a secure environment.
  • Echo IQ’s platform has FDA clearance for aortic stenosis.
  • Heart failure FDA clearance application remains under review.

THE NEXT OVERS

  • Study completion is expected in the first half of CY2027.

  • Parties intend to co author a peer reviewed manuscript.
  • Study will evaluate predictive risk scoring performance in oncology patients.

Read full ASX Announcement here.