After a shaky week for broader markets, today’s small-cap news flow is dominated by fresh drilling, new clinical programs and key leadership updates across the resources and biotech sectors. Here’s what’s moving the news this morning.
Terrain Minerals launches 4,500m RC program at Lightning
Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF) has kicked off preparation for a 4,500-metre RC drilling program at the Lightning prospect within its Smokebush Project in WA’s Murchison region. The campaign is aimed at advancing the project towards a maiden resource in mid-2026, building on previous standout gold and silver intercepts including 22 metres at 2.71 g/t gold and 13 metres at 8.13 g/t gold.
Race Oncology widens clinical footprint
Race Oncology Ltd (ASX:RAC, OTC:RAONF) has unveiled two new clinical programs for RC220 in acute myeloid leukaemia (AML) and EGFR-mutated non-small cell lung cancer (NSCLC), targeting significant opportunity across both markets. The pivotal AML Phase 3 trial will bridge RC110 to RC220, while the NSCLC study is designed to evaluate RC220’s ability to delay or prevent resistance to third-generation tyrosine kinase inhibitors, with trial design and site recruitment already advanced.
Lindian Resources appoints commercial & supply manager
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has strengthened its leadership team with the appointment of Robert Rickie as commercial & supply manager, bringing more than 15 years of contracts and procurement experience across major miners including IGO and Iluka. Rickie will guide the commercial, contracting and logistics strategy as Lindian progresses construction at the Kangankunde rare earths project.
Lightning Minerals confirms large-scale gold system
Lightning Minerals Ltd (ASX:L1M) has received final assays from its inaugural Mt Turner drilling program, confirming an extensive mineralised system that now spans more than 12 kilometres along the Drummer Fault. Eight of nine holes intersected gold, with highlights including 20.4 metres at 2.4 g/t gold from Pit 3 and wide, shallow gold intersections at Pit 6, alongside strong zinc-lead-silver hits at the Cobar target.
AuMEGA Metals begins drilling major EM conductor
AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF) has commenced diamond drilling on a newly defined 500-by-1,000-metre EM conductor near its high-grade Central Zone at Cape Ray in Canada. The untested target sits in the hangingwall of the existing deposit and may represent a parallel gold-bearing trend, with drilling fully funded and the company planning to scale up as results warrant.
Recce Pharmaceuticals announces passing of founder
Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has reported the passing of founder and technology inventor Dr Graham J.H. Melrose, whose pioneering work in polymer chemistry and anti-infectives underpinned the company’s RECCE® platform. Dr Melrose’s leadership, decades of scientific contribution and global patent portfolio played a foundational role in shaping Recce’s growth and ongoing mission.