Small caps are back in focus on Wednesday as investors sift through a mixed Tuesday session on the local exchange and record closes on Wall Street. With gold holding near all-time highs and iron ore stretching its rally, resource news is dominating the headlines.
Among today’s announcements, Terra Metals has begun a major new drill program at Dante, Astral and Aurum turned up high-grade gold hits, and Lithium Universe is chasing government support for its solar panel recycling technology.
Terra launches Phase 3 drilling at Dante
Terra Metals Ltd (ASX:TM1, OTC:PNGZF) has kicked off Phase 3 drilling at its 100%-owned Dante Project in Western Australia’s West Musgrave hub. The new campaign follows the recently unveiled 148-million-tonne maiden resource, which confirmed Dante as a globally significant polymetallic system.
The fresh round of work will step out at Reef 1 and Reef 2, test new targets across the Jameson Layered Intrusion, and advance the broader district-scale opportunity. Backed by a $15 million placement led by GEAR and Tribeca, Terra says the program is designed to grow resources and unlock new discoveries across titanium, vanadium, copper, gold and PGEs.
Astral hits ultra-high grades at Theia
Astral Resources NL (ASX:AAR) has delivered early assays from in-fill drilling at its flagship Theia deposit, part of the Mandilla Gold Project near Kalgoorlie. Standout results included 32 metres at 10.8 g/t gold with a 3-metre interval at nearly 100 g/t, and 1 metre at an extraordinary 191 g/t.
The 99-hole, 10,000-metre program is designed to tighten confidence around the resource model that underpins 75% of Mandilla’s planned production.
Aurum extends high-grade gold at Napié
Aurum Resources Ltd (ASX:AUE) has struck thick, high-grade intercepts from step-back drilling at its Tchaga deposit, part of the Napié Project in Côte d’Ivoire. The best hit returned 17 metres at 9.38 g/t from 236 metres, including 1 metre at 144 g/t.
The results confirm extensions of high-grade shoots at depth, where mineralisation remains open. Aurum is running a 30,000-metre program at Napié alongside a 100,000-metre campaign at its larger Boundiali project, with both expected to feed into resource updates later this year.
Lithium Universe pursues solar recycling grant
Lithium Universe Ltd (ASX:LU7, OTC:LUVSF) and Macquarie University have jointly applied for a $386,000 AEA Ignite grant to advance their breakthrough solar panel recycling project. The program combines Macquarie’s patented Microwave Joule Heating Technology with Lithium Universe’s Jet Electrochemical Silver Extraction process, aiming to recover high-purity silver, intact glass and reusable silicon wafers from end-of-life panels.
If successful, the 12-month project would progress to a pilot-scale prototype, positioning Australia at the forefront of renewable technology recycling.
Critical Resources consolidates NZ footprint
Critical Resources Ltd (ASX:CRR) has signed a deal to acquire 90% of the Rock and Pillar prospecting permit application, expanding its New Zealand gold-antimony portfolio. The ground secures an additional 10 kilometres of strike along the Cap Burn fault, directly adjoining the company’s recently acquired Cap Burn project.
The move ensures Critical Resources can fully test the down-plunge continuity of mineralisation, with drilling set to begin after approvals are finalised in October.