With the S&P/ASX 200 edging higher to start the week and the Small Ords up 1.2% in Monday’s session, junior names are trying to build on a modest rebound after last week’s volatility. News flow from explorers is relatively light this morning, with many management teams in Fremantle for the RIU Explorers Conference, but a handful of client companies have delivered notable updates.
Critical Resources
Critical Resources Ltd (ASX:CRR, FRA:9S70) has appointed solid-state battery specialist Dr Alevtina (Alla) Smirnova as technical advisor, strengthening its push into next-generation battery technologies.
Dr Smirnova, a recognised inventor across lithium and sodium solid-state systems and director of the US National Science Foundation-backed Centre for Solid-State Electric Power Storage (CEPS), will provide independent oversight as CRR transitions from securing intellectual property options to structured laboratory validation. The company’s evaluation program with the South Dakota School of Mines & Technology is now moving into formal synthesis, materials optimisation and electrochemical testing, aimed at assessing performance, scalability and potential commercial pathways.
Sovereign Metals
Sovereign Metals Ltd (ASX:SVM, OTCQX:SVMLF, AIM:SVML, FRA:SVM) has signed a non-binding memorandum of understanding with Traxys North America for the marketing of graphite from its Kasiya rutile-graphite project in Malawi.
Under the proposed framework, the MOU targets 40,000 tonnes per annum of graphite concentrate during the first five years of production, rising to up to 80,000 tonnes per annum thereafter. Traxys was recently appointed as one of only three trading houses selected to procure critical minerals under the US Government’s US$12 billion “Project Vault” strategic stockpile initiative. While the agreement is non-binding, it adds commercial momentum as Sovereign advances Kasiya against a backdrop of growing US focus on securing non-Chinese graphite supply chains.
Riversgold
Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) says all objections to its mining lease application (M25/389) over the Northern Zone gold project near Kalgoorlie have now been resolved.
The company has finalised native title agreements and is working to have the lease recommended for grant in the coming weeks. The Northern Zone project sits about 25 kilometres east of Kalgoorlie and forms part of Riversgold’s broader development strategy in the region.
A successful grant would mark a key permitting milestone as the company advances its plans alongside partner MEGA Resources.
Resolution Minerals
Resolution Minerals Ltd (ASX:RML, OTC:RLMLF, FRA:NC3) has reported further broad gold intercepts and notable tungsten mineralisation from its 2025 drilling campaign at the Golden Gate North prospect within the Horse Heaven project in Idaho.
Final assays from multiple reverse circulation and diamond holes returned near-surface gold mineralisation extending from top to bottom of several holes, including 99 metres at 0.23g/t gold from surface in one RC hole and more than 100 metres at 0.37g/t gold in diamond core.
Tungsten intervals were also identified, highlighted by 8 metres at 0.14% tungsten within a broader 21-metre zone. Management says every hole in the campaign intersected significant gold, with the discovery open in all directions as the company eyes a maiden resource in the 2026 drilling season.
Terra Metals
Terra Metals Ltd (ASX:TM1, FRA:21V) has confirmed what it describes as a large, high-grade platinum group metals (PGM)–copper–nickel sulphide feeder system at its SW6 prospect within the broader Southwest system.
Recent drilling returned wide intercepts including 61 metres at 1.41g/t PGE3 from 172 metres and 89 metres at 0.96g/t PGE3 from 144 metres, with high-grade platinum-rich zones up to 31.1g/t PGE3 over 0.3 metres. Mineralisation now extends over an apparent thickness exceeding 200 metres and remains open at depth, with a sizeable electromagnetic conductor identified beneath the highest-grade intercept.
Four rigs are set to begin a Phase 4 campaign next month, targeting extensions at both SW5 and SW6 as the company tests the broader intrusive system.