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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.