Small caps are getting a cleaner run today, helped by firmer metal prices and a risk-on tone across global markets. After yesterday’s weakness in resources, today’s focus shifts back to companies generating real news flow — drilling under way, resource upgrades, and early-stage exploration being fast-tracked.
Below are the key ASX small-cap updates so far this morning.
Altech Batteries: Long-term field data backs SNC battery reliability
Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) released service data showing its sodium–nickel–chloride (SNC) battery technology has recorded just 0.6–1.5% failure rates over more than 15 years of real-world use in telecom and UPS systems — significantly below typical lithium-ion failure ranges of 3–5%.
With minimal degradation and no need for cooling or ventilation systems, Altech says the SNC units offer lower whole-of-life costs and uninterrupted operation even if individual cells fail.
Resource Minerals International: Magnetic survey advancing drill targeting in Saudi Arabia
Resource Minerals International Ltd (ASX:RMI) has begun a detailed magnetic survey across its Shaib Marqan and Wadi Salamah gold–silver projects in Saudi Arabia. The program aims to tighten drill targeting after rock-chip results up to 40.35 g/t gold and 10.66 g/t gold, 40.4 g/t silver.
The survey is being completed with China National Nuclear Corporation’s geological science division.
Riversgold: Grade control drilling wrapped at Kalgoorlie project
Riversgold Ltd (ASX:RGL, OTC:RVSGF) has completed the first round of drilling across the Northern Zone and Gold Wing prospects, 25 kilometres east of Kalgoorlie, with all samples sent to the lab.
Another drill program begins November 17, backed by approvals for 150 additional holes at Gold Wing as Riversgold progresses towards its maiden resource.
Novo Resources: High-grade rock chips pinpoint new drilling targets
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has returned new high-grade rock-chip results at the Tibooburra Gold Project in New South Wales, including 39.9 g/t gold from Pioneer North and multiple samples above 4 g/t from Pioneer South.
The company is now refining drill targets across Pioneer, New Bendigo, Clone and Warratta Reef, with regulatory approvals already in place at its John Bull project.
Kairos Minerals: 10,000m drilling underway to extend Mt York
Kairos Minerals Ltd (ASX:KAI, OTCQB:KAIFF) has commenced a 10,000-metre reverse circulation and diamond program on the extension of its 1.4-million-ounce Mt York Gold Project in the Pilbara. The team is testing a 1.5-kilometre strike of BIF-hosted mineralisation where historic drilling by a previous licence holder returned hits such as 11 metres at 3.11 g/t gold.
Up to four rigs are on site, with an updated resource estimate scheduled for Q1 2026.
Elixir Energy: New 2C contingent resource lifts Taroom Trough inventory
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has booked 189 BCFe of new 2C contingent gas resources in Queensland’s Taroom Trough, lifting its total independently certified position to ~2.8 TCFe.
The company expects further upgrades as seismic work continues and the project moves towards potential commercialisation steps.