S&P/ASX Small Ordinaries (ASX: XSO) was up 26.20 points (0.71%) to 3,725.00 today, but remains down 113.90 points (2.97%) over the past five trading days. Meanwhile, there's already been some solid news flow this morning, and you can read about the following and more throughout the day.
Far East Gold resumes drilling at Mount Clark West
Far East Gold Ltd (ASX:FEG) has recommenced drilling at its Mount Clark West (MCW) Project in Queensland following weather-related delays caused by seasonal rainfall late last year.
The company is currently drilling the second diamond hole of a planned 2–3 hole diamond program, with each hole designed to test defined geophysical targets to depths of up to 600m.
With drilling now back underway, Far East Gold also confirmed a regulatory extension to the project’s EPM tenure, providing additional time to complete the current program and follow-up work.
Carnavale secures mining lease at Kookynie
Carnavale Resources Ltd (ASX:CAV, FRA:YBB) said Mining Lease M40/362 — which hosts all resources at its Kookynie Gold Project (KGP) in Western Australia — has been granted.
Kookynie is located about 60km south of Leonora and 180km north of Kalgoorlie, with the granted lease covering the Swiftsure and Tiptoe high-grade gold resources.
Following the lease grant, the company highlighted that the mining area is surrounded by the larger exploration tenement E40/355, which it considers prospective for additional gold discoveries.
Novo outlines next steps at Wyloo
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has provided an update on its Wyloo Project, outlining recent work and its forward exploration program.
The company flagged a heritage survey in March, followed by a maiden reverse circulation drilling program of about 1,500m planned for Q2 2026 to test the Wyloo SE polymetallic vein system.
Off the back of the recent work, Novo said the upcoming survey and drilling program will be used to refine and test priority targets across the project area.
European Lithium reports final 2025 assays from Tanbreez
European Lithium Ltd (ASX:EUR, OTCQB:EULIF)has received final assay results from the 2025 drilling program at Area B and the Fjord Deposit at the Tanbreez Rare Earths Project in Greenland.
Broad-spaced drilling at Area B supported the view that mineralisation extends across the area adjacent to the eastern margin of the Hill Zone Deposit, while results from the Fjord Deposit confirmed mineralisation near surface and continuity along strike.
With the final assays now in hand, the company said it is planning extension drilling in 2026 as it assesses the potential for resource growth at Fjord and Upper Fjord.
European Lithium reported total rare earth oxide (TREO+Y) grades from the 2025 diamond drilling ranging from 0.40% to 0.47%, with heavy rare earth oxides comprising about 26–27% of TREO+Y.