S&P/ASX Small Ordinaries (ASX: XSO) gained 8.20 points to 3,762.10, up 0.22% for the session on Friday and 51.30 points, or 1.38%, over the past five days.
While this is a firmer backdrop for small caps to start the week, the ongoing strikes on Iran could bring serious volatility to the small-cap market. Of course, the world keeps turning and the news keeps flowing and several ASX-listed juniors have reported operational and corporate updates across energy, gold, rare earths and silver.
Elixir Energy
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) provided an update on drilling at the high-impact Lorelle-3H appraisal well in ATP 2056 within Queensland’s Taroom Trough. The company has drilled and cased the heel of the well through the overlying coal and into the primary Tinowon ‘Dunk’ Sandstone target.
The milestone de-risks the upcoming horizontal section, which is set to commence drilling shortly. SLB has completed a Horizontal Landing Optimisation Study, identifying the optimal zone within 28 metres of net pay in the Dunk Sands to position the horizontal wellbore and maximise stimulation effectiveness and reservoir drainage.
Nova Minerals
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF, FRA:QM3) reported assay results from its 2025 surface sampling program at the West Wing area of its Estelle Gold and Critical Minerals Project in Alaska’s Tintina Gold Belt. Field observations and assays have outlined a gold-copper anomaly measuring 1,500 metres by 800 metres.
Riversgold
Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) announced it has been granted the key P25/2848 tenement in the Kalgoorlie East area, immediately east of its main Kalgoorlie Gold Project (Northern Zone) tenure. The Northern Zone Intrusive Hosted Gold Project sits on P25/2651 (M25/389 application), 25 kilometres east of Kalgoorlie in Western Australia.
American Rare Earths
American Rare Earths Ltd (ASX:ARR, OTCQX:ARRNF) consolidated the roles of president and chief executive officer, with Mark Wall assuming the combined position effective immediately. Based in North America, Wall brings mining leadership and project development experience as the company advances its next phase of growth with a focus on project execution.
Lion Rock Minerals
Lion Rock Minerals Ltd (ASX:LRM) advised that chief executive officer Casper Adson will transition from the role as the board seeks to appoint a new CEO with a stronger in-country presence to progress the Minta Project in Cameroon. Adson will move into a technical advisory role to support continuity during the transition. Non-executive chairman Robert Boston said the board will immediately commence a recruitment process.
Investigator Resources
Investigator Resources (ASX: IVR) released its definitive feasibility study for the Paris Silver Project on South Australia’s Central Eyre Peninsula, confirming what it describes as a high-margin, finance-ready development pathway and declaring maiden ore reserves.
The project, located about 70 kilometres north of Kimba, is designed as a shallow open-pit operation using contract mining and a conventional whole-ore cyanide leach flowsheet with Merrill–Crowe doré recovery. The development plan incorporates a wet tailings storage facility and focuses on construction simplicity, operational reliability and closure planning.