After a choppy start to the week for the broader market, small caps remain selective, with pockets of strength in lithium and exploration names offset by skittish trade ahead of today’s RBA decision and tomorrow’s Fed meeting.
Against that backdrop, early newsflow on Tuesday sees a trio of juniors pressing ahead with drilling, trial funding and resource-definition work. You can read about the following and more throughout the day.
Solis Minerals
Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has secured drilling permits for its 100%-owned Cinto Copper Project in southern Peru, clearing the way for a maiden diamond program targeting coincident geochemical and geophysical anomalies.
The initial campaign will focus on three key IP-defined zones along the Incapuquio Fault Zone, just 15–38 kilometres from major operations including Southern Copper’s Toquepala and Anglo American’s Quellaveco mines, with rig mobilisation and pad preparation slated to begin this month.
Race Oncology
Race Oncology Ltd (ASX:RAC) has locked in more than $3.2 million via a private placement to existing sophisticated investors, funding the HARNESS-1 Phase 1a/b trial of its RC220 candidate in combination with Tagrisso for non-small cell lung cancer.
The new shares will be issued at $2.83 – a 6% premium to the last close and in line with the five-day VWAP – giving Race the capital it needs to initiate the study, which has human ethics approval at St Vincent’s Hospital and is expected to enroll its first patient in early 2026 once Monash Health site activation is complete.
Nexus Minerals
Nexus Minerals Ltd (ASX:NXM) has flagged a step-change in its Wallbrook Gold Project story, with systematic regional work delivering five prospects now advancing towards resource-definition drilling.
Recent 295-hole aircore programs at the Branches and MC3.3 targets confirmed strike extensions and new parallel structures at Branches, including shallow intercepts such as 4 metres at 2.47 g/t gold, with follow-up RC drilling planned for the March quarter as the company works to grow Wallbrook’s near-surface ounce inventory alongside the Crusader–Templar deposit.