The Day’s Play Edition 94: Resource extensions, new gold-silver systems and metallurgical validation | VAL, LGM, CRS

Valiant Gold (ASX:VAL)

Deep Drilling Confirms Extensions Below Existing Resource

THE PLAY

• Drilling confirmed gold mineralisation extends ~400m below the existing Resource.

• The mineralised system now exceeds 100m horizontal width at depth.
• W5 returned 34.2m @ 2.97g/t Au from 1007.9m, including 3.6m @ 15.55g/t Au.
• The Reedy Shear remains open down-dip and along strike.
• W1 returned 20.1m @ 1.92g/t Au, including 6.0m @ 3.96g/t Au.

THE PITCH

• South Emu-Triton forms part of the 100%-owned Reedy Gold Project.

• The existing South Emu-Triton Resource stands at 1.7Mt @ 4.0g/t Au for 224koz.
• The maiden drilling program targeted extensions below the current Resource.
• Approximately 2,000m of a planned 5,000m drilling program has been completed.
• South Emu-Triton is located within the Murchison region of Western Australia.

THE NEXT OVERS

• Infill drilling will commence to support Resource conversion activities.

• Drilling will prioritise conversion of Inferred material to Indicated classification.
• Further assay results are expected in the coming months.

Read full ASX Announcement here.

Legacy Minerals Holdings (ASX:LGM)

Mascotte Discovery Confirmed Across 1.3km Trend

THE PLAY

• Final drilling assays confirmed a new gold-silver system across the Mascotte trend.

• Results confirmed a coherent mineralised system extending over 1.3km.
• All drill holes were completed outside the current Mt Carrington Resource.
• Mineralisation remains open along strike and at depth.
• MSDD001 returned 40m @ 1.0g/t Au from 151m, including 9m @ 2.7g/t Au.

THE PITCH

• Mascotte forms part of the Mt Carrington Project in New South Wales.

• The maiden campaign comprised 8 diamond drill holes for 1,840.95m.
• The prospect contains historical workings extending approximately 1.3km in strike.
• Mt Carrington hosts a current Mineral Resource of 1.2Moz AuEq and 115Moz AgEq.
• The system hosts gold, silver and base-metal mineralisation.

THE NEXT OVERS

• Ground geophysics is planned across the Mascotte trend.

• Follow-up drilling is being planned at Mascotte.
• Approvals and site preparation will continue across Mt Carrington, White Rock and Emu.

Read full ASX Announcement here.

Caprice Resources (ASX:CRS)

94% Gold Recovery Confirms Conventional Processing Route

THE PLAY

• Metallurgical testwork delivered up to 94% overall gold recovery.

• Testwork confirmed suitability for conventional gravity and CIL processing.
• Gravity recovery exceeded 33%, indicating a significant free-gold component.
• More than 92% gold extraction was achieved within 24 hours.
• No preg-robbing, preg-borrowing or asbestiform mineral fibres were identified.

THE PITCH

• Testwork was completed on a fresh mineralisation composite from Vadrians.

• The composite sample represented the high-grade domain at Vadrians.
• The master composite returned an assay head grade of 13.3g/t Au.
• Testing assessed gravity recovery potential and CIL processing performance.
• The Vadrians deposit forms part of the Island Gold Project.

THE NEXT OVERS

• Undertake comminution and variability testwork on additional composites.

• Test composite samples representing potential future mill feed.
• Complete additional metallurgical studies required for third-party mill assessment.

Read full ASX Announcement here.

Ausgold (ASX:AUC)

Extensional Drilling Expands Katanning Beyond Resource Limits

THE PLAY

• Extensional drilling intersected mineralisation beyond current Resource and Reserve boundaries.

• In-fill drilling delivered >80% of results above underlying Resource model grades.
• Multiple intercepts were returned outside the current Mineral Resource pit shell.
• Best in-fill result returned 26m @ 3.03g/t Au from 79m.
• Datatine down-plunge drilling intersected 9.5m @ 2.44g/t Au from 512m.

THE PITCH

• Katanning Gold Project hosts a 2.44Moz Mineral Resource and 1.33Moz Ore Reserve.

• The project spans a 15km mineralised trend across 3 resource zones.
• Ausgold owns 100% of the Katanning Gold Project.
• Datatine hosts some of the highest-grade mineralisation within the project.
• The company controls more than 3,000km² of regional tenure.

THE NEXT OVERS

• Commence a planned 25,000m RC drilling program at Katanning.

• Receive outstanding drilling results from Katanning and Moulyinning.
• Deliver an updated Katanning Gold Project Resource in the December quarter.

Read full ASX Announcement here.

Podium Minerals (ASX:POD)

Deep Drilling Extends Parks Reef Beyond Resource Boundary

THE PLAY

• Deep drilling confirmed Parks Reef mineralisation beyond the current 250m resource boundary.

• Five holes returned significant PGM Zone mineralisation at 300m to 450m below surface.
• Best result delivered 27.7m @ 2.04g/t 5E from 411.4m downhole.
• Results demonstrated grades and widths comparable with existing MRE mineralisation.
• Drilling confirmed down-dip continuity across approximately 2km within Area 1.

THE PITCH

• Parks Reef is Podium Minerals’ flagship PGM project in Western Australia.

• The current Mineral Resource Estimate extends across a 15km strike length.
• The existing Mineral Resource Estimate is defined to approximately 250m depth.
• Parks Reef contains both PGM Zone and Cu-Au Zone mineralisation.
• The drilling programme also supplied samples for metallurgical test work.

THE NEXT OVERS

• Assay results remain pending for 4 oxide RC holes.

• Pending oxide drilling assays will be reported once received.
• Metallurgical test work continues on concentrator flowsheet verification and optimisation.

Read full ASX Announcement here.

Hot Chili (ASX:HCH)

391m Copper-Gold Intercept Confirms Shallow High-Grade Continuity

THE PLAY

• DKD044 returned 391.1m @ 0.51% CuEq from surface.

• The result confirmed continuity of shallow higher-grade copper-gold mineralisation.
• DKD044 included 85.4m @ 0.61% CuEq from 160m depth.
• DKD042 extended the high-grade core 125m further west.
• DKP041 confirmed expansion and continuity of mineralisation across the zone.

THE PITCH

• La Verde is a copper-gold porphyry discovery in Chile’s coastal Atacama region.

• The discovery sits 30km south of Costa Fuego’s planned central processing hub.
• Three drill rigs are currently operating at La Verde.
• Resource definition drilling is continuing across the discovery.
• A second ISO-accredited laboratory has been engaged to accelerate assays.

THE NEXT OVERS

• Assays remain outstanding for 22 drill holes at La Verde.

• Remaining assays from DKD044 are expected in coming weeks.
• Assay results for step-out hole DKD049 are expected in coming weeks.

Read full ASX Announcement here.

Firebird Metals (ASX:FRB)

Equipment Orders Complete Key ARENA Funding Milestone

THE PLAY

• All long-lead equipment orders were placed for the Australian Demonstration Plant.

• Equipment orders complete key deliverables under ARENA Milestone 1 requirements.
• Milestone completion progresses Firebird toward the first ARENA cash payment.
• The ADP remains on schedule and on budget.
• Equipment shipment to Australia is anticipated in early Q4 2026.

THE PITCH

• The ADP is being developed in Perth, Western Australia.

• The facility will produce high-purity manganese sulphate and manganese-based cathode materials.
• Firebird executed agreements covering equipment procurement, export and technology licensing.
• The licence grants exclusive use of technology patents underpinning the ADP flowsheet.
• The ADP is designed as a fully integrated manganese-based battery materials facility.

THE NEXT OVERS

• Initial LMR cathode performance results are expected in coming weeks.

• Factory Acceptance Testing will commence across major equipment packages.
• Equipment shipment, site delivery and commissioning activities are planned from Q4 2026.

Read full ASX Announcement here.

Delta Lithium (ASX:DLI)

Delta Consolidates Ownership Across Yinnetharra JV Ground

THE PLAY

• Delta agreed to acquire tenements subject to the Reach Resources earn-in agreement.

• The acquisition secures full ownership of a 170km² prospective tenure package.
• The transaction terminates the existing Earn-In and Joint Venture Agreement.
• The package includes the Talisker, Fireball, Aberlour, Cirka and Tomahawk prospects.
• Consideration comprises $400,000 cash and $400,000 in DLI shares.

THE PITCH

• The Yinnetharra Project is located in Western Australia’s Gascoyne region.

• Delta holds 2,300km² of tenure through owned and farm-in interests.
• The acquired ground hosts lithium, gold, fluorite and tungsten anomalies.
• Drilling has identified tantalum-bearing pegmatites within an LCT pegmatite system.
• A March 2025 MRE reported 21.9Mt @ 1.0% Li₂O and 75ppm Ta₂O₅ at Yinnetharra.

THE NEXT OVERS

• Transfer of the tenements remains subject to Ministerial consent.

• Multi-element soil surveys are underway across acquired prospect areas.
• Gold-focused soil samples from Mason’s will be submitted for assay.

Read full ASX Announcement here.

OD6 Metals (ASX:OD6)

Horseshoe Meets Typical MetSpar Specifications Before Processing

THE PLAY

• Horseshoe averaged 70.9% CaF₂, exceeding typical >60% MetSpar specifications.

• Horseshoe raw material met typical MetSpar impurity requirements without prior processing.
• Lead, sulphur, arsenic, cadmium, uranium and thorium remained at very low levels.
• Multi-element assays confirmed low impurity profiles across Horseshoe and Mammoth.
• Both deposits demonstrated impurity levels within typical AcidSpar tolerance ranges.

THE PITCH

• OD6 is advancing the Quinn Fluorspar Project in Nevada, USA.

• Quinn hosts multiple fluorspar deposits including Horseshoe, Mammoth and Big Jim.
• Horseshoe channel samples averaged 70.9% CaF₂ across 20 samples.
• Mammoth channel samples averaged 40.8% CaF₂ across 12 samples.
• The United States currently imports 100% of its fluorspar requirements.

THE NEXT OVERS

• Metallurgical testwork is due to commence on recently collected samples.

• TOMRA ore-sorting testwork is expected to commence this quarter.
• Core Resources flotation testwork is expected to commence this quarter.

Read full ASX Announcement here.

BOA Resources (ASX:BOA)

Tenement Grants Advance Neds Creek Drill Readiness

THE PLAY

• DMPE commenced granting Neds Creek tenements, with 7 of 14 applications approved.

• Granted tenements now cover 64% of the total project area.
• The 2 tenements covering planned drilling are among those granted.
• Ricci Lee was confirmed as the priority target for resource definition drilling.
• Heritage surveys commenced across 6 priority copper prospects.

THE PITCH

• BOA holds a 49% interest in the Neds Creek Copper Project.

• Neds Creek covers 1,143.9km² within Western Australia’s Yerrida Basin.
• The project contains 6 priority copper prospects targeted for drilling.
• All priority prospects have recorded ore-grade copper results from previous work.
• BOA reported approximately $3.2 million cash at the March quarter end.

THE NEXT OVERS

• Complete heritage surveys and associated site access activities.

• Commence the planned drilling program at Neds Creek.
• Undertake 7,500m of RC drilling and 7,500m of AC drilling.

Read full ASX Announcement here.

Cooper Metals (ASX:CPM)

Ardmore North And Attina Cleared For Drilling

THE PLAY

• Heritage clearance and site works were completed at Ardmore North and Attina.

• Drilling is set to commence imminently across both priority Cu-Au targets.
• Approximately 1,250m of RC drilling is planned at Ardmore North.
• Approximately 750m of RC drilling is planned at Attina.
• Preparations are complete for mobilisation of the Bullion Drilling RC rig.

THE PITCH

• Ardmore North hosts a coherent Cu-Au anomaly extending approximately 1.5km in strike.

• Attina hosts a coherent Cu-Au anomaly defined by surface Cu and Au geochemistry.
• Both prospects are located within the Mt Isa East Project in Queensland.
• Ardmore North sits along the Mt Hope corridor within the project area.
• Attina is located 5.5km northeast of the Mt Hope Project.

THE NEXT OVERS

• Commence RC drilling at Ardmore North.

• Commence RC drilling at Attina following Ardmore North drilling.
• Receive assay results from the 96m Ardmore North surface channel sample.

Read full ASX Announcement here.