Lefroy Exploration (ASX: LEX)

Announced that it has received firm commitments to raise approximately $3.6 million (before issue costs) through a placement to institutional and sophisticated investors.

This includes $317,570 from Lefroy Directors.

Lafroy Exploration drill crew, Western Australia – Courtesy of Lefroy Exploration

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Lefroy Announce a $3.6 Million Placement to Accelerate Evaluation of Mt Martin Gold Deposit

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22 May 2026

Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX: LEX) is pleased to announce that it has received firm commitments to raise approximately $3.6 million (before issue costs) through a placement to institutional and sophisticated investors (“Placement”).

This includes $317,570 from Lefroy Directors.

HIGHLIGHTS

• Lefroy has received firm commitments to raise $3.6 million (before costs) in a
share placement to institutional and sophisticated investors
• Directors of Lefroy have committed to participate in the Placement for a total
of $317,570, subject to shareholder approval
• This funding allows Lefroy to expedite the scoping studies and associated
activities at Mt Martin and the high-grade gold core at Burns
• The additional equity allows the company to sustain momentum whilst
awaiting cash flow from the Lucky Strike Profit Share

LEFROY CHAIRMAN, DAVID KELLY, COMMENTED:

“We are grateful for the ongoing support of investors, comprised largely of long-term
shareholders, who have contributed to this Placement.

“Securing this additional equity funding allows Lefroy to continue to advance the exploration and evaluation of its key 460koz Mt Martin Gold Deposit.

“The recently announced resource upgrade at Mt Martin will form the basis for a Scoping Study, which aims to identify a development path for this asset. In addition, targeted drilling to extend and upgrade both Mt Martin and the 160koz high grade core of the Burns deposit will be undertaken.

“We expect to see significant value realisation for shareholders over the next 12 months, from scoping studies ofMt Martin and Burns, and from anticipated cashflow from the Lucky Strike Profit Share.”

The Placement will result in the issue of a total of 28.8 million fully paid ordinary shares (“Shares”) at an issue price of $0.125 per New Share. New Shares issued under the Placement will rank equally with the Company’s existing Shares.

The Placement issue price was 12.5c.

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To read the full news release, please click HERE

 

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To view the latest share price and chart, please click HERE

To View Lefroy Exploration’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds  shares in Lefroy Exploration

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Western Gold Resources (ASX: WGR)

Advised that drilling of the Bowerbird production bore has commenced, alongside the delivery and installation of the early stage site establishment infrastructure, at its 100%-owned Gold Duke Project in Western Australia.

Gold production is scheduled to start in Q2 2026.

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Production Bore Drilling Commenced and Early Stage Site Establishment

Western Gold Resources Limited (ASX: WGR) (“WGR” or “the Company”) is pleased to advise that drilling of the Bowerbird production bore has commenced, alongside the delivery and installation of the early stage site establishment infrastructure, at its 100%-owned Gold Duke Project in Western Australia.

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Highlights:

• Drilling has commenced at the Bowerbird Prospect within the Gold Duke
Project
• Bore replaces an existing production bore and will provide dedicated water
supply for mining operations and dust suppression
• Groundwater extraction licence approval by the Department of Water and
Environmental Regulation (DWER) is in place
• Early Stage of mobilisation has commenced with the delivery and
installation of site offices
• Site offices to support current production bore drill programme as well as
clearing and grubbing and next phase of site establishment
• Laydown area established to support drilling, mining and logistics for the
project
• Represents first phase of “on-the-ground” activities for the Gold Duke
Project

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Managing Director Cullum Winn commented:

“The commencement of drilling at the Bowerbird production bore and installation of early site infrastructure represents the start of on-the-ground activities at our flagship Gold Duke Project.

 

“The bore and associated infrastructure are expected to provide a low-cost, reliable water supply, positioned close to the Stage 1 operational pits, supporting efficient project execution.”

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To read the full news release please click HERE

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..To see the latest Western Gold share price and chart, please click HERE

.To View Western Gold Resources’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Western Gold Resources.

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Meeka Metals (ASX: MEK)

Announced that expansion work on the Murchison processing plant has commenced with an additional crushing circuit, wash plant and Steinert multi-sensor ore sorter being installed.

This is expected to unlock significant additional processing capacity and increase annual gold production.

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Meeka Metals Processing Upgrade to 800ktpa Underway – Commissioning
Expected in September 2026 Quarter

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Meeka Metals Limited (ASX: MEK) “Meeka” or the “Company”) is pleased to announce that expansion work on the Murchison processing plant has commenced with an additional crushing circuit, wash plant and Steinert multi-sensor ore sorter being installed.

This is expected to unlock significant additional processing capacity and increase annual gold production. Additional benefits include removal of hard waste rock from the mill feed, reduced plant wear and lower tailings deposition per ounce produced

Installation of ore sorting is underway at the Murchison Gold Project (“Murchison”) to
unlock additional processing capacity to ~800ktpa and accelerate gold production.
• The upgrade unlocks ~200ktpa of additional mill capacity, increasing throughput to
~800ktpa and annual gold production
• Ore sorting will be applied to Andy Well underground ore initially – high-grade ore will be separated for immediate processing and low-grade ore stockpiled for later processing
• Test work at Steinert’s ore sorting test facility confirmed excellent sorting results – ~85% of contained gold is sorted into ~50% of the rock mass, effectively doubling Andy Well’s already high head grade
• Significantly lower capital cost ($6M) and commissioning timeline (6 months) versus
equivalent expansion of the crushing and grinding circuit to achieve 800-1,000ktpa capacity
• Processing unit costs at the higher throughput remains steady versus DFS unit cost estimate (~$38/t)
• Commissioning targeted for the September 2026 quarter
• Test work is underway to determine applicability to other Murchison ore sources
Commenting on the upgrade, Meeka’s Managing Director Tim Davidson said: “Ore sorting unlocks an additional 200,000 tonnes per annum of milling capacity and effectively doubles the head grade of Andy Well ore entering the plant, delivering a meaningful increase in annual gold production.

Commenting on the upgrade, Meeka’s Managing Director Tim Davidson said:

“Ore sorting unlocks an additional 200,000 tonnes per annum of milling capacity and effectively doubles the head grade of Andy Well ore entering the plant, delivering a meaningful increase in annual gold production.

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“The test work results were excellent and gave us strong confidence in the ability to consistently separate the high-grade gold-bearing quartz from lower grade material that will be stockpiled for later processing.

“We expect this high-return, quick-payback investment to be operational in the September 2026 quarter providing additional processing capacity for ore.

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“The test work results were excellent and gave us strong confidence in the ability to consistently separate the high-grade gold-bearing quartz from lower grade material that will be stockpiled for later processing.

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“We expect this high-return, quick-payback investment to be operational in the September 2026 quarter providing additional processing capacity for ore from our open pits and our second underground mine at Turnberry, commencing in 2026.”

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To read the full news release, please click HERE

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To view the latest Meeka share price and chart, please click HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

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,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Meeka Metals. 

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To read our full terms and conditions, please click HERE

Ora Banda Mining (ASX: OBM)

Updated on its approach to processing surplus Davyhurst ore through third party infrastructure.

 Throughout FY26, Ora Banda has utilised third-party processing to accelerate cashflow from excess ore as mining volumes have exceeded existing Davyhurst processing capacity.

Site View – Courtesy of Ora Banda Mining Limited

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Ora Banda Update on Third Party Ore Processing

Ora Banda Mining Limited (ASX:OBM) ( Ora Banda or the Company) provides the following update on its approach to processing surplus Davyhurst ore through third party infrastructure :
• Throughout FY26, Ora Banda has utilised third-party processing to accelerate cashflow from excess ore as mining volumes have exceeded existing Davyhurst processing capacity .
• To date during FY26 approximately 345,000 tonnes of Davyhurst ore has been processed via the Paddington mill under the previous non-binding Memorandum of Understanding (MOU) with Paddington Gold Pty Limited , which anticipated up to 400kt of ore being processed during FY26. 
• The Company has now replaced the MOU with a full-form binding Ore Sales Agreement ( OSA) between Siberia Mining Corporation Pty Ltd, Carnegie Gold Pty Ltd and Paddington Gold Pty Limited.
• The OSA enables Ora Banda to process a further 120,000 dry metric tonnes ( ± 10%) of gold bearing Davyhurst ore at Paddington during March and April 2026.
• Following expiry of the OSA, Ora Banda intends to build excess ore stockpiles for future processing through its 100% owned infrastructure which is expected to deliver material cost and recovery benefits . Ora Banda will also continue to review third party processing options in the ordinary course of business .
• FY26 Production and All-in Sustaining Cost (“AISC”) guidance remains unchanged from that provided in the December 2025 quarterly report .
• The Company continues to progress studies relating to the construction of a standalone 3 million

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The full news release can be viewed HERE

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To view Ora Banda’s latest share price and chart, please click HERE

Barton Gold (ASX: BGD)

Announced the start of ‘Phase 2’ JORC (2012) Mineral Resource upgrade drilling at its South Australian Tunkillia Gold Project (Tunkillia).

Strike Drilling has been engaged to complete a program totalling ~30,000m.

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Tunkillia drilling – Credits Barton Gold

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Barton Gold Tunkillia ‘Phase 2’ Resource Upgrade Drilling Begins

Targeting Ore Reserves, PFS & ML application by the end of 2026

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Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or Company) is pleased to announce the start of ‘Phase 2’ JORC (2012) Mineral Resource upgrade drilling at its South Australian Tunkillia Gold Project (Tunkillia).

Strike Drilling has been engaged to complete a program totalling ~30,000m.

HIGHLIGHTS

• May 2025 Optimised Scoping Study (OSS) outlined a compelling Tunkillia development project:

o Annual production: ~120,000oz gold and ~250,000oz silver
o Total LoM operating cash: ~A$2.7 billion (unlevered, pre-tax)
o Net Present Value (NPV7.5%): ~A$1.4 billion (unlevered, pre-tax)
o Internal Rate of Return (IRR): ~73.2% (unlevered, pre-tax); and
o Payback period: ~0.8 years (unlevered, pre-tax)

• Barton expediting Tunkillia toward Mining Lease (ML) application, with AUD gold and silver prices now over $2,000/oz and $60/oz higher (respectively) than used for OSS revenue estimates
• 18,900m ‘Phase 1’ reverse circulation (RC) Resource upgrade drilling infilled high value S1 / S2 pit areas with broad high-grade intersections, supporting rapid payback in early ‘Starter pit’2
• ~30,000m ‘Phase 2’ RC upgrade drilling now underway targeting balance of optimised open pits;
• Phase 2 RC drilling a key step to support JORC (2012) Mineral Resource upgrades and target
JORC (2012) Ore Reserves, a pre-feasibility study (PFS), and an ML application by end of 2026.

Tunkillia’s Phase 2 RC upgrade drilling follows a successful ‘Phase 1’ program which infilled the high-value early ‘S1’ and ‘S2’ pit areas, modelled to produce ~$1.3 billion operating profit during the first 2.5 years of operation, with broad, high-grade intersections.

Barton is targeting conversion of all of Tunkillia’s OSS modelled open pit
mineralisation to JORC (2012) ‘Measured’ and ‘Indicated’ categories to accelerate financing and development.

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 Barton MD Alexander Scanlon commented;

“The Tunkillia OSS demonstrated the financial and capital leverage available to large-scale bulk processing operations, with the major advantage of a higher-grade ‘Starter Pit’ that can pay back development costs 2x over in the first year – assuming A$5,000/oz gold and A$50/oz silver prices.

 

“At current gold and silver prices, Tunkillia would be modelled to produce over $1 billion operating profit in the first year, and over $2 billion operating profit in the first two years.

 

“Our recent ‘Phase 1’ Resource upgrade drilling results further confirmed the mineralisation behind these compelling economics; we are therefore now executing the balance of Tunkillia development drilling programs on an expedited timeline, targeting declared JORC Ore Reserves, a robust PFS, and a Mining Lease application by the end of 2026.

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“Following the submission of our Mining Lease application, we will expedite Tunkillia’s project finance discussions and work with all key stakeholders including the South Australian Government to bring Tunkillia online as soon as possible.

 

“This project can generate substantial economic benefits for Barton and all of our stakeholders, including the State.”

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To read the full news release please click HERE

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The live Barton Gold share price and chart can be found HERE 

..To View Barton Gold’s’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Barton Gold.

.

To read our full terms and conditions, please click HERE

Ora Banda Mining (ASX: OBM)

Reported record revenues of Record revenues of $ 336.3 million (H1 FY2 5: $186.4 million ) for the half -year ended 31 December 2025, a period during which the Group generated $18 4.0 million in operating cash flows.

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Site View – Courtesy of Ora Banda Mining

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Ora Banda Mining – December 2025 – Half Year Results

Ora Banda Mining Ltd (ASX: OBM) (“Ora Banda”, “Company”) is pleased to report on the financial and operating activities of the Company and its subsidiaries (“Group”) for the half -year ended 31 December 2025 – a period during which the Group generated $18 4.0 million in operating cash flows, which continues to be reinvested in the Group ’s growth projects.

H1 FY2 6 Highlights:

• Record revenues of $ 336.3 million (H1 FY2 5: $186.4 million )
• EBITDA1 increased by 106% to $ 173.2 million
• Net Profit after Tax (NPAT) increased 89% to $ 96.3 million , including a $ 43.8 million (non -cash) tax expense in the current period (H1 FY25: nil)
• Cash flow from Operations increased 102% to $184.0 million
• Closing cash of $ 155.4 million (June 202 5: $84.2 million ), up $ 71.3 million
• Record six monthly gold sold of 62,583 oz (including attributable equivalent ounces) (H1 FY25 : 47,824oz)
• Sand King Underground achieved capital payback 12 months after establishing portal
• Put options executed during the period provides coverage over 150koz at A$6,000 exercise price over periods of January – June 2026 and October 2026 – October 2027

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The full news release can be viewed HERE

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To view Ora Banda’s latest share price and chart, please click HERE

Minerals 260 (ASX: MI6)

Reported further results from its drilling program at the 4.5Moz Bullabulling Gold Project, located 25km west of Coolgardie in Western Australia.

Assays have been received for a further 36 drill holes totalling 9,210m, including:
Bacchus Deposit (46Mt @ 1.1g/t Au for 1,600koz Au).

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Bullabulling mine – Courtesy of MInerals 260

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Minerals 260 Reports 7m @ 12.7 g/t Au, including 1m @ 69.0g/t Au,
intersected at the Bullabulling Gold Project

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30,000m drilling program to support an updated Mineral Resource Estimate in mid-2026

Minerals 260 Limited (ASX:MI6) is pleased to report further results from its drilling program at the 4.5Moz Bullabulling Gold Project, located 25km west of Coolgardie in Western Australia.

Assays have been received for a further 36 drill holes totalling 9,210m, including:
Bacchus Deposit (46Mt @ 1.1g/t Au for 1,600koz Au)
Infill
• 7m @ 12.7g/t Au from 158m in BBRC0483*
 1m @ 69.0g/t Au from 160m
• 2m @ 10.3g/t Au from 99m in BBRC0412#
 1m @ 19.3g/t Au from 99m
• 1m @ 8.5g/t Au from 158.6m and 1.5m @ 11.3g/t Au from 190m in BBRD0422*1
• 10m @ 1.4g/t Au from 96m in BBRC0488#
Phoenix Deposit (57Mt @ 1.0g/t Au for 1,800koz Au)
Infill
• 8m @ 1.8g/t Au from 176m and 10m @ 2.8g/t Au from 211m in BBRC0438*
 1m @ 12.0g/t Au from 212m
Extensional
• 17m @ 0.8g/t Au from 174m in BBRC0461*
Dicksons Deposit (18Mt @ 1.0g/t Au for 610koz Au)
Infill
• 4m @ 3.7 g/t Au from 26m in BBRC0453*
• 8m @ 2.2 g/t Au from 99m in BBRC0487*
Extensional
• 9m @ 1.6g/t Au from 274m in BBRC0460*
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

*True widths are estimated at between 85% and 95% of the reported drillhole intercepts
#True widths are estimated at between 70% and 85% of the reported drillhole intercepts

Kraken Deposit (8.8Mt @ 1.2g/t Au for 340koz Au)
Infill
• 8m @ 1.06g/t Au from 127m in BBRD0444*1
• 15m @ 0.89g/t Au from 156m in BBRC0443*

Drilling at Bullabulling continues to:

• Consistently return thick and high-grade mineralisation along the footwall shear zone at Bacchus;
• Intersect multiple mineralised lenses outside the December 2025 Mineral Resource Estimate (MRE), indicating the potential to increase the MRE both at depth and along strike;
• Confirm the continuity of mineralisation at depth along the entire 8.5km strike extent of the MRE;
• Target extensions of high-grade areas located beneath or along strike from the MRE, specifically the high-grade areas at Bacchus and between Bacchus and Kraken.

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To read the full news release please click HERE

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To view the latest Minerals share price and chart, please click HERE

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.To View Minerals 260’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Minerals 260

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Caprice Resources (ASX: CRS)

Advised that the air core drilling component of the Phase 4 drilling campaign is now underway at the Island Gold Project.

This AC programme forms part of the fully funded 20,000m Phase 4 drilling campaign, which also includes reverse circulation and diamond drilling.

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Caprice Resources project map – Courtesy of Caprice Resources

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CAPRICE COMMENCES AIR CORE DRILLING AT THE ISLAND GOLD PROJECT

Caprice Resources Ltd (ASX: CRS) (Caprice or the Company) is pleased to advise that the air core (AC) drilling component of the Phase 4 drilling campaign is now underway at the Island Gold Project (IGP, or the Project).

This AC programme forms part of the fully funded 20,000m Phase 4 drilling campaign, which also includes reverse circulation (RC) and diamond drilling.

Approximately 10,000m of AC drilling is scheduled to target high-impact strike extensions to the Vadrians deposit and test parallel banded iron formations
(BIFs) which represent new discovery targets within the IGP mining lease with demonstrated potential to host gold mineralisation.

The Company now has 3 rigs operating across the Island Gold Project, with diamond, RC and AC drilling forming a systematic resource definition and discovery programme.

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Caprice CEO, Luke Cox, commented:

“Our Phase 4 drill campaign continues to gather momentum, with the air core rig now joining the RC and diamond rigs onsite.

 

“This phase of drilling will systematically test for gold north and south of the Vadrians deposit, as well as adjacent gold-hosting BIFs that run parallel to the system. The work significantly expands our coverage across what is proving to be a highly fertile gold corridor within the Murchison.

 

“Looking further ahead, a particularly exciting lake-based air core drilling programme is scheduled to target the concealed BIF corridor beneath shallow colluvial cover and salt lake sediments.

 

“These areas have never been drilled despite lying within the same geological and structural corridor as our recently revealed gold systems.

 

“With deeper drilling continuing in parallel, the addition of the air core component will deliver a sustained period of news flow as we continue to unveil the IGP’s geological potential, situated on granted mining leases close to a number of operating mills in an environment of ongoing gold price strength.”

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To read the full news release please click HERE

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The latest Caprice share price and chart can be viewed HERE

.To View Caprice Resources’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Caprice Resources

.

Horizon Minerals (ASX: HRZ)

Provided an update on the development of the Phillips Find and Boorara Gold Projects.

Three processing campaigns of Phillips Find ore have been completed at FMR Investments’ Greenfields mill totalling 98,945 tonnes at 1.65g/t Au for 4,954 ounces produced.

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Horizon Baroora project Mining-Operations – Credits Horizon Minerals

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Barton Gold (ASX:BGD)

Announced that a Definitive Feasibility Study has started, targeting ‘Stage 1’ production utilising the fully permitted Central Gawler Mill located at Barton’s South Australian Challenger Gold Project.

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Photo courtesy of Barton Golf

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Barton Gold Definitive Feasibility Study Begins for ‘Stage 1’ Production Targeting Phase 1 commissioning by the end of 2026

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Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or Company) is pleased to announced that a Definitive Feasibility Study (DFS) has started, targeting ‘Stage 1’ production utilising the fully permitted Central Gawler Mill (CGM) located at Barton’s South Australian Challenger Gold Project (Challenger).

The JORC (2012) Mineral Resource Estimate (MRE) for Challenger was recently upgraded to 313koz Au, including 194koz Au high-grade fresh ore (~3.2 g/t Au) in or adjacent to existing serviceable open pit and underground development, and an historical Tailings Storage Facility 1 (TSF1) containing 56koz Au at a grade of 0.54 g/t Au.

Barton is targeting March 2026 DFS completion and end of 2026 CGM commissioning, with ‘Phase 1’ operations reprocessing TSF1 materials, and ‘Phase 2’ then introducing fresh ore.

HIGHLIGHTS

• Existing fully permitted Central Gawler Mill adjacent to brownfield Challenger mines1
• Challenger JORC (2012) Mineral Resources Estimate now 313koz Au (10.6Mt @ 0.92 g/t), including 194koz Au (1.87Mt @ 3.23 g/t) in existing open pit and underground mines, where:

o Challenger Main Open Pit: 70,000oz Au (0.65Mt @ 3.36 g/t Au);
o Challenger West Open pit: 11,600oz Au (0.03Mt @ 10.7 g/t Au);
o Challenger Underground (above 215mRL): 89,400oz Au (0.98Mt @ 2.84 g/t Au); and
o Challenger Deeps (below 90mRL): 23,000oz Au (0.21Mt @ 3.50 g/t Au).
• Historical tailings storage facility with coarse, higher-grade tailings up to 0.6 – 1.0 g/t Au2
• Evaluating de-risked, two phase transition to operations with initial tailings reprocessing
(‘Phase 1’) followed by the introduction of high-grade (~3 g/t) fresh ore (‘Phase 2’)
• Targeting Phase 1 commissioning by end of 2026; credit finance conversations underway

Barton Managing Director Alexander Scanlon commented,

“With gold prices at all-time highs and over 300koz Au JORC Resources adjacent to the Central Gawler Mill, the opportunity to leverage our existing infrastructure to operations and cash flow has never been more attractive.

“We are wasting no time pursuing this opportunity, targeting a low-cost and low-risk transition to operations by the end of 2026, the re-rating of Barton’s equity to a ‘producer’ profile, and operating free cash flows to fund our planned
regional growth at Tunkillia.

 

We look forward to sharing regular updates during an exciting 18 months ahead.”

.

——-

..To View Barton Gold’s’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Barton Gold.

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To read our full terms and conditions, please click HERE

Benz Mining (ASX: BNZ / TSX.V: BZ)

We are initiating coverage of Benz Mining, a gold exploration and development company, dual listed on the ASX and TSX.V exchanges, with projects in Australia and Canada.

The main focus is on the Glenburgh gold project in Western Australia.

Glenburgh project map – Courtesy of Benz Mining

Comment

This is my preferred type of company, great project, shovel ready and permitted for potential early toll milling, experienced management team with a track record of success, in a tier 1 jurisdiction.

The project has district scale.

I made an initial investment recently and the price has jumped before I could follow up, on the back of some excellent exploration results.

I intend to increase my holding in the near future.

City Investors Circle – Initiating Coverage of Benz Mining

Benz Mining (ASX: BNZ / TSX.V: BZ)

We are initiating coverage of Benz Mining, a gold exploration and development company based in Australia, dual listed on the ASX and TSX.V exchanges, with projects in Australia and Canada.

The main focus is on the Glenburgh gold project in Western Australia.

Company profile

Core Business & Strategy

• Focus: Gold exploration with projects also prospective for other minerals (e.g. lithium, nickel, copper) in Canada and Australia. Newsfile+2Junior Mining Network+2

• Jurisdictions:

• Western Australia: Glenburgh and Mt Egerton gold projects.
• Quebec, Canada: The company’s Eastmain Gold Project in the Upper Eastmain River greenstone belt. This includes the former Eastmain Mine (which operated briefly in the mid-1990s) and associated properties.

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Management

Mark Lynch-Staunton

Formerly with Barrick Gold

Seasoned mine builder with a proven track record of deliver

Jurisdictions

Western Australia and Quebec

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The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Benz Mining.

.

Lefroy Exploration (ASX: LEX)

Reported on exploration activities across the Lefroy Project, including progress on key milestones for the Lucky Strike Gold Deposit and a planned drilling program at the Burns Central Gold Project.

The Lucky Strike Gold Deposit contains an MRE of 1.27Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93 g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97 g/t Au for 36,200 oz).

.

Lefroy Exploration – Burns RC drilling – Courtesy of Lefroy Exploration

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Lefroy Exploration’s Lucky Strike Gold Deposit advances towards operations

Advanced drill planning targeting High-Grade Gold at Burns

Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX: LEX) is pleased to report on exploration activities across the Lefroy Project, including progress on key milestones for the Lucky Strike Gold Deposit and a planned drilling program at the Burns Central Gold Project.

The Lucky Strike Gold Deposit contains an MRE of 1.27Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93 g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97 g/t Au for 36,200 oz).

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HIGHLIGHTS

• Major Project Milestones achieved for Lucky Strike Gold Project, including
heritage surveys completed across the entire Mining project area, with all
planned work areas cleared.
• Finalised pit shell optimisation designs for Lucky Strike, with production
schedules and budgets set for finalisation in September
• Clearing permit application assessment over the Lucky Strike mining Lease
M25/366 in the final stages of review, on target for early December quarter
completion.
• Lucky Strike Gold Project on target to commence earthworks and pre-strip
within the first half of the December Quarter.
• Planning underway to progress the recently reviewed Burns Central Deposit
high-grade zone, where significant upside has been identified.
• Burns Central resource extension and metallurgical confirmation drilling
program to commence in October.
• LEX is fully funded, with multiple growth pathways identified as the Company
embarks on an ambitious, self-funded growth strategy throughout FY26.

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LEFROY CEO, GRAEME GRIBBIN, COMMENTED:

“As we diligently complete our last approvals and permitting prior to gold operations commencing at the Lucky Strike Project in the December quarter, we enter a new phase for the Company, whereby profit from Lucky Strike enables the Company to pursue a self-funded growth strategy.

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“With heritage clearance now received, environmental approval well advanced and final pit shell designs imminent, the Company remains focused on advancing its strategic goals of unlocking value for shareholders, with Lucky Strike providing the Company with that first pathway.

 

“We seek to realise further value for shareholders through generating cashflow from Lucky Strike and establishing a strong sustained cash balance, to allow the Company to unlock further value from its portfolio of advanced high-grade shallow gold resources projects (Burns and Mt Martin) and its highly prospective exploration targets”.
.

 

To read the full news release, please click HERE

 

——-

.

To View Lefroy Exploration’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds  shares in Lefroy Exploration

.

Barton Gold (ASX: BGD)

Announced an updated MRE for its South Australian Challenger Gold Project.

This follows detailed remodelling of gold mineralisation on or near existing development.

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Photo courtesy of Barton Gold

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Barton Gold ‘Stage 1’ Resources at Central Gawler Mill Pass 300koz Au

Feasibility studies to begin shortly | Targeting operations by end of 2026

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Barton Gold Holdings Limited (ASX:BGD, FRA:BGD3, OTCQB:BGDFF) (Barton or Company) is pleased to announce an updated MRE for its South Australian Challenger Gold Project (Challenger).

This follows detailed remodelling of gold mineralisation on or near existing development drives within the historical Challenger underground mine (below the 900mRL level).

This mineralisation was temporarily removed from Barton’s recent 30 June 2025 Challenger MRE update, pending final remodelling and re-estimation.

HIGHLIGHTS

• Challenger JORC (2012) Mineral Resources Estimate (MRE) grows to 313koz Au (10.6Mt @ 0.92 g/t), incl. 194koz Au (1.87Mt @ 3.23 g/t) in existing open pit and underground mines:
o Challenger Main Open Pit: 70,000oz Au (0.65Mt @ 3.36 g/t Au);
o Challenger West Open pit: 11,600oz Au (0.03Mt @ 10.7 g/t Au);
o Challenger Underground (above 215mRL): 89,400oz Au (0.98Mt @ 2.84 g/t Au); and
o Challenger Deeps (below 90mRL): 23,000oz Au (0.21Mt @ 3.50 g/t Au).

• Almost all MRE mineralisation located in, on, or adjacent to, existing serviceable open pit and underground development → opportunities for low-cost access and production
• Preliminary estimate for full reinstatement of 600ktpa Central Gawler Mill only A$26m (± 30%)
• Targeting lower-cost, de-risked two phase transition to operations, with initial high-grade tailings reprocessing (as Phase 1), followed by restart of fresh rock operations (as Phase 2)
• Technical programs moving directly to definitive Feasibility, targeting operations by end
of 2026; conversations underway with financiers for low-dilution credit financing options.

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Barton MD Alexander Scanlon Commented on the JORC Resources update, 

“With gold Resources of over 300,000oz now confirmed adjacent to the Central Gawler Mill, the pieces are now in place for the startup of an initial multi-year ‘Stage 1’ operation.

 

“This represents a significant opportunity for Barton to join a select few of its peers by transitioning to operations at a period of record high gold prices.

 

“Our fully permitted Central Gawler Mill also offers considerable leverage in successfully delivering this outcome, with a potentially shorter, lower-cost, and lower-risk pathway to operations and BGD’s re-rating to ‘producer’ status.

 

“A successful outcome could then generate revenues and cash flow to fund our planned regional growth.

 

“We are now moving directly to definitive Feasibility studies targeting a two phase, de-risked development and the start of initial ‘Stage 1’ operations by the end of 2026.

 

Barton has a very exciting 18 months ahead as we navigate this next stage of our corporate evolution.”

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To read the full news release please click HERE

——-

..To View Barton Gold’s’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Barton Gold.

.

To read our full terms and conditions, please click HERE

New Murchison Gold (ASX: NMG)

Provided an update on results and interpretations from its recent regional exploration program.

This results in this announcement include high-grade gold intercepts outside of the Crown Prince Gold Mine currently under development.

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New Murchison Gold vista – Credits New Murchison Gold

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New Murchison Gold Report High-Grade Gold Hits Returned From Regional Exploration in The Abbotts Greenstone Belt

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New Murchison Gold Limited (ASX: NMG) (“NMG” or the “Company”) is pleased to provide an update on results and interpretations from its recent regional exploration program.

This results in this announcement include high-grade gold intercepts outside of the Crown Prince Gold Mine currently under development.

The Abbotts Greenstone Belt contains historical gold workings dating back to the early 1900’s. Previous exploration has occurred sporadically over time at the various prospects along the belt.

NMG has consolidated ownership of the belt and has been re-evaluating, mapping and drilling using more modern techniques and leveraging off knowledge gained from its discoveries at the Crown Prince project.

/
HIGHLIGHTS

NMG has been undertaking regional exploration on its extensive 677km2 exploration tenure which covers the majority of the Abbotts Greenstone Belt in the Murchison Region of Western Australia.

The belt contains several large-scale gold prospects defined by broad gold anomalism up to 5km strike length in places.

Following its recent commencement of operations at the Crown Prince Gold Mine, the Company is advancing its pipeline of prospects within the belt.

Best intersections reported from drilling at regional prospects include:
• 20m @ 3.36g/t Au from 49m, including 1m @ 39.37g/t Au from 53m in NGGSRC984 (Airstrip)
• 5m @ 5.95g/t Au from 41m, including 1m @ 18.74g/t Au from 42m in NGGSRC1069 (Airstrip)
• 3m @ 8.50g/t Au from 18m, including 1m @ 23.08g/t Au from 19m in NGGSRC996 (Airstrip)

Alex Passmore, NMG’s CEO, commented:

“We are very pleased to announce high grade results from relatively shallow depth from some of our key regional prospects, which offer strong potential for future growth.

 

“The Airstrip prospect shows a +5km long zone of gold anomalism (+1g/t Au) in shallow drilling and is located near the large Abernethy shear zone.

 

“Airstrip has the scale to deliver a transformational gold deposit for the Company.

 

“Lydia and Abbotts prospects sit on granted mining leases (MLs) and the Company is investigating these as potential future production locations.”

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To read the full news release please click HERE

——-

..

.To View New Murchison Gold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in New Murchison Gold.

.

Ora Banda Mining (ASX: OBM)

Reported on its financial and operating activities for the year ended 30 June 2025 – a year during which the Company demonstrated the robustness of its underground strategy, and record revenues of A$404 million.

Closing cash increased by $57.4 million despite spending over $124.2 million on exploration, resource development and capital.

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Ora Banda mine location map – Credits Ora Banda Mining

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Ora Banda Mining Announce Record FY25 Results

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to report on its financial and operating activities for the year ended 30 June 2025 – a year during which the Company demonstrated the robustness of its underground strategy.

Closing cash increased by $57.4 million despite spending over $124.2 million on exploration, resource development and capital including:
• $73.5 million on Riverina and Sand King underground development;
• $28.3 million on resource development & exploration activities; and
• $22.4 million on growth capital works projects for Sand King, camp upgrades and on-going improvement projects at the Davyhurst mill.

FY25 Highlights:

• Record revenue of $404.3 million (FY24: $214.2M)
• EBITDA increased by 243% to $184.6 million
• Closing cash of $84.2 million (June 2024: $26.8 million), up $57.4 million
• Net Profit after Tax (NPAT) increased 575% to $186.1 million including a $73.1 million net income tax benefit from the recognition of a deferred tax asset associated with carry forward losses
• Record gold sold from the Davyhurst mill of 91,687oz at an AISC3 of $2,693/oz (FY24: 67,255oz at an AISC of $2,767/oz)
• Riverina Underground achieved capital payback only 18 months after commencement
• Operations commenced at the Group’s second underground mine, Sand King, with all key metrics achieved on schedule
• Executed a Syndicated Facility Agreement (“SFA”) with ANZ and CBA for a revolving credit facility (“RCF”) of A$50 million for an initial 2-year term.

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The Group achieved record production for the year with a total of 92,399oz produced (including attributed ounces) representing a 32% increase on FY24. The increase was driven by a larger percentage of higher-grade Riverina Underground ore being processed in FY25, together with the introduction of Sand King material from February 2025.

The increased production coupled with a higher realised gold price (A$1,159/oz higher than FY24) resulted in record revenue of $404.3 million.

Riverina Underground reached commercial production on 1 August 2024 following two consecutive months of steady state production and achieved payback of its capital investment within 18
1 EBITDA – earnings before interest, tax, depreciation and amortisation. EBITDA is a non IFRS measure
2 In the current year, the Group recognised deferred tax assets relating to carry forward unused tax losses. Based on the Group’s 2024 income tax return & estimates for 2025. the Group has carried forward losses of $277.4M ($83.2M tax effected). The difference between this $83.2M and the $73.1M income tax benefit is associated with timing differences on deferred taxes.
3 AISC – all-in sustaining costs per ounce sold (inclusive of attributed ounces)
4 Ore sale agreement with Norton Goldfields delivering 1.4koz of attributed ounces for FY25 – refer to ASX Announcement “FY25 Production Results & FY26 Guidance” dated 11 July 2025

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The full news release can be viewed HERE

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Caprice Resources (ASX: CRS)

Reported results from the final batch of 26 holes from its Phase 3 RC drill programme at the Island Gold Project (which returned further stand-out gold intercepts at Vadrian’s and successfully intercepted gold in newly identified zones within the broader 5km x 1km target area.

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Caprice Resources project map – Courtesy of Caprice Resources

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CAPRICE ANNOUNCE FURTHER HIGH-GRADES AND NEW MINERALISED ZONES CONFIRMED AT ISLAND GOLD

Caprice Resources Ltd (ASX: CRS) (Caprice or the Company) is pleased to report results from the final batch of 26 holes from its Phase 3 Reverse Circulation (RC) drill programme at the Island Gold Project (IGP, or the Project) which returned further stand-out gold intercepts at Vadrian’s and successfully intercepted gold in newly identified zones within the broader 5km x 1km target area.

All assay results from the 43 holes (7,024m) completed in Phase 3 have now been received, with this batch of high-grade intercepts extending the strike length at Vadrian’s to at least 350m and delineated new mineralised zones, all of which remain open at depth. Importantly, the results have increased confidence in the geological model and provide strong evidence that gold grades increase with depth.

The newly identified Condenser target reinforces the fertility of the corridor, with early-stage results comparable to initial shallow hits at Vadrian’s and follow up drilling planned to test its depth potential.

The IGP target corridor remains open along its 5km in length and 1km width, with drilling to date constrained to depths of less than 170 vertical metres below surface, leaving ample scope for the discovery of additional high-grade gold lodes at depth.

Caprice remains focussed on progressing toward delineating a maiden gold Mineral Resource Estimate (MRE) of grade, continuity, and scale at IGP. A fully-funded Phase 4 drilling programme, set to comprise 20,000m of air core, RC and diamond drilling, is currently scheduled to commence in September 2025.

FINAL PHASE 3 ASSAY RESULTS

Vadrian’s mineralised envelope:
• 10m @ 10.9 g/t gold from 123m downhole in 25IGRC051, including:
 1m @ 63.9 g/t gold from 126m downhole
• 9m @ 14.8 g/t gold from 154m downhole in 25IGRC054, including:
 1m @ 33.1 g/t gold from 159m downhole
• 5m @ 18.3 g/t gold from 180m downhole in 25IGRC049, including:

.

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Caprice CEO, Luke Cox, commented:

“The final batch of Phase 3 drilling has delivered our most impressive gold grades to date, returning equivalent grades of up to two ounces per tonne and confirming robust continuity across the Vadrian’s system.

 

“These results not only reinforce the high-grade nature of the mineralised zones, but also the potential for scale, with known gold mineralisation presently open in all directions.

“The identification of new gold lodes across the broader project area is also exciting, with results supporting the presence of stacked lodes and a large-scale mineralised corridor that continues to grow.

 

“These outcomes reinforce our strategic objective to rapidly define a high-grade, project-scale gold resource at the Island Gold Project, ideally located between two major regional processing hubs in the heart of the Murchison Goldfields.

“The Phase 4 exploration programme is now in advanced stages of planning and has been designed to build on the success of our previous drilling campaigns as we progress towards delivering a maiden MRE at IGP.

 

“This upcoming campaign will focus on extending known zones of high-grade gold mineralisation and further enhancing our geological understanding of the system.

 

“The combination of RC and diamond drilling is expected to provide the drill density required to support a robust resource model, while air core drilling will continue to test the broader IGP system for new discoveries.”

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To read the full news release please click HERE

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——-

.

.To View Caprice Resources’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Caprice Resources

.

Ora Banda Mining (ASX: OBM)

Provided an update on its continued exploration success at the Little Gem prospect.

Subsequent to the highly successful five hole drill program (Phase 1 drill program) at Little Gem which returned 22.7m @ 5.0 g/t and 10.9m @ 6.4g/t, Ora Banda committed to a 16-hole broad spaced diamond drilling program across Little Gem and Sunraysia.

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Ora Banda minesite – Credits Ora Banda Mining Ltd.

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HIGH GRADE, MULTI-LODE GOLD SYSTEM EXPANDED TO
OVER 1KM STRIKE AT LITTLE GEM

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued exploration success at the Little Gem prospect.

Subsequent to the highly successful five hole drill program (Phase 1 drill program) at Little Gem which returned 22.7m @ 5.0 g/t and 10.9m @ 6.4g/t, Ora Banda committed to a 16-hole broad spaced diamond drilling program across Little Gem and Sunraysia (Phase 2 drill program) to test the prospective carbonate horizons over 4.7 kms and down to a depth of 400 vertical metres below the surface.

The Phase 2 drill program is now complete with assays now having been returned.

Little Gem Highlights:

• 16 hole Phase 2 drilling program now complete with all assays returned
• Phase 2 drilling has confirmed a multi-lode gold mineralised system at Little
Gem, with high gold grades and large lode widths
• Significantly, Hole LGDD25008 returned 8.8m @ 6.3g/t at a depth of 320 metres
below surface. This hole is 400 metres north of LGDD25005 (22.7m @ 5.0g/t)
• Drilling has defined multiple lodes at the Little Gem prospect, with the Company
having modelled four of these, namely the Diamond Lode, Ruby Lode, Sapphire
Lode and the Tanzanite lode
• The LGDD25008 intersection shows that the prospective strike of a well-developed
high-grade shoot on the Diamond Lode is over 1,000 metres and remains open at
depth (See figure 3)
• Phase 3 follow up drilling program of 38 holes has commenced with two
diamond rigs and one RC rig currently active on the program. This drilling will
target multiple lodes of the Little Gem system from the surface down to 500
metres, with some deeper drill testing of the system down to 750 metres below
surface planned.

The Phase 2 drill program was planned as very broad spaced (400-metre section lines), earlystage drill testing of the greenfields potential of the Little Gem – Sunraysia system.

Excitingly the program has confirmed a multi-lode system displaying strong tenor with high gold grades and large lode widths at Little Gem. Mineralised shoot development and geometry is now becoming apparent, although exploration remains at an “early stage”.

Significantly for the Phase 2 program, Hole LGDD25008, on a 400-metre step out to the north of LGDD25005 (22.7m @ 5.0g/t) and targeting the Diamond Lode has returned 8.8m @ 6.3g/t at a depth of 320 metres below surface.

This intersection shows that the prospective strike of a well developed high grade shoot on the Diamond Lode has a potential strike length in excess of 1,000 metres and depth extents of at least 400 metres below surface.

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Ora Banda’s Managing Director, Luke Creagh, said:

“These results continue to expand the potential of Little Gem as a large-scale, high grade and multi-lode system.

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“These results demonstrate a potential strike length in excess of 1,000 metres and the system remains open at depth. 

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“The 38 hole Phase 3 program at Little Gem will provide significant drill coverage of the interpreted high-grade lodes to rapidly advance our understanding of the size and scale of the system”

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“The Little Gem trend is one of multiple drill programs we have commenced as part of the $73 million allocated to exploration and resource development drilling in FY26 and we are looking forward to results from all of these programs.”

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To read the full news release please click HERE

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Ora Banda Mining (ASX: OBM)

Provided the following production results for FY25 and the June quarter, with the full quarterly results expected to be released in late July.

The Company also includes Guidance for FY26 in this release.

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Riverina adit – Courtesy of Ora Banda Mining

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Ora Banda FY25 Production Results & FY26 Guidance

Ora Banda Mining Ltd (ASX: OBM) (“Ora Banda”, “OBM” or “Company”) provides the following production results for FY25 and the June quarter, with the full quarterly results expected to be released in late July.

The Company also includes Guidance for FY26 in this release.

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FY25 performance:

• Gold produced (including attributed ounces) for the June 2025 quarter totalled 21.9koz;
impacted by the slower than expected ramp up of the Mill1 and mining delays at Riverina Underground deferring 3koz in high grade stopes into early July.

Gold production includes attributed equivalent production of 1.4koz from third party processing of ore sold by OBM to Norton Gold Fields (“NGF”) (Paddington Mill) in June under an ore sale agreement.
• June quarter Gold sold totalled 20.2koz processed through Davyhurst processing plant
• Gold production in FY25 continued the organic growth of OBM with a 32% increase on FY24,
and the second year of over 30% year-on-year organic growth with 92.4koz produced
(including the above mentioned attributed equivalent production of 1.4koz)
• Closing cash of $84.2M, reflecting $57.4M in free cash flow in FY25 and increased $3.5M in the June quarter
• Closing Stockpiles of 165kt at 1.9g/t for 10koz (including medium grade of 63kt @2.8g/t for 5.7koz) sets the Company up well for the start of FY26.

In addition, the June quarter ended with 2.8koz in GIC.

FY26 Guidance:

Gold Production Koz 140 – 155*
AISC A$/oz 2,800 – 2,900

Exploration & Resource Development $M 73
Growth Capital, comprised of: $M 86
– UG Development & Infrastructure $M 37
– Process Plant Upgrades $M 6
– Other Projects (e.g. airstrip, camps) $M 43

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To read the full news release, please click HERE

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Horizon Minerals (ASX: HRZ)

Announced the commencement of drilling at the high grade Burbanks project, located approximately 9km to the south of Coolgardie in the heart of the Western Australian Goldfields.

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Horizon Minerals Drilling Underway at Burbanks

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Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce the commencement of drilling at the high grade Burbanks project, located approximately 9km to the south of Coolgardie in the heart of the Western Australian Goldfields.

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HIGHLIGHTS

• Extensional and infill drilling has commenced at the high-grade Burbanks gold project, 9km south of Coolgardie in the Western Australian Goldfields
• Two phase RC and diamond drill programs for 30,000m planned:
o Phase 1 comprises ~15,000m of infill drilling to enhance resource continuity and
confidence with results expected in the September 2025 quarter
o Phase 2 comprises ~15,000m of extensional drilling, targeting along strike and down
dip of known high grade lodes
• Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au
• The historical production is in addition to the existing JORC (2012) Mineral Resource of:
o 6.1Mt grading 2.4g/t Au for 466koz 1
• Infill and extension drilling in late 2023 intercepted significant mineralisation immediately down dip of historical high-grade intercepts with results including: 2
o 0.3m @ 45.40g/t Au from 428.1m (BBRC437D)
o 7.0m @ 5.51g/t Au from 130.0m (BBRC437D)
o 1.55m @ 20.43g/t Au from 301.0m (BBRC463D)
o 2.0m @ 11.79g/t Au from 425.0m (BBRC463D)
• Burbanks is expected to make a meaningful long-term contribution of high-grade ore feed to a refurbished Black Swan processing plant in the future
• The Black Swan PFS is scheduled for completion in the December quarter 2025

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 Managing Director and CEO Mr Grant Haywood commented,

“Past drilling at Burbanks has demonstrated the growth potential of this high-grade mineralised system both along strike and at depth.

 

“Our first phase of drilling will focus on transitioning more of the existing resource into the higher confidence JORC Indicated category to enable future conversion to an Ore Reserve and to progress this cornerstone asset towards being development ready.

 

“The second phase will then seek to deliver on the extensional potential seen in earlier drilling. 

“As part of our strategy to become a standalone gold producer, we’re undertaking a Pre-Feasibility Study to generate a five-year life of mine plan to feed our Black Swan processing facility, with Burbanks one of the key sources of high-grade mill feed for the plant.

 

“Refurbishment studies for Black Swan are being undertaken concurrently with the aim of first gold pour by the end of 2026.”

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To read the full news release please click HERE

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The live gold price can be found HERE

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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Meeka Metals (ASX: MEK)

Published a new corporate presentation “accelerating production, adding ounces“, updated after the recent A$60 million capital raise.

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Meeka Metals drill site – Credits Meeka Metals

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Meeka Metals (ASX: MEK)

Published a new corporate presentation updated after the recent A$60 million capital raise.

To view the presentation please click here

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To read the full news release, please click HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Meeka Metals. 

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To read our full terms and conditions, please click HERE

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