Small caps are heading into a softer session, with ASX futures pointing lower as a narrow Wall Street rally masks broader weakness and ongoing geopolitical uncertainty continues to shape sentiment.
Against that backdrop, several updates highlight steady progress across energy and gold plays, with activity spanning well testing, new drilling campaigns and early-stage development agreements.
Elixir advances towards flow testing at Diona-1
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has completed stimulation operations at its Diona-1 exploration well in Queensland, with gas observed during the flowback phase — an encouraging early sign ahead of testing.
Completion work is now under way, with flow testing and pressure monitoring set to follow, as the company moves to assess the commercial potential of the Surat-Bowen Basin asset.
NewPeak begins drilling at Las Opeñas
NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) has commenced drilling at its Las Opeñas gold project in Argentina, with an initial 2,500-metre program planned across nine holes and scope to expand.
The campaign is targeting extensions to historic mineralisation, including areas near previous wide intercepts, as the company looks to define the scale of a potential polymetallic system.
Nexus takes step towards Crusader-Templar development
Nexus Minerals Ltd (ASX:NXM, FRA:YAK) has signed a memorandum of understanding with mining contractor Macro Gold Mining Services to progress development of the Crusader-Templar gold deposit in Western Australia.
The proposed structure would see the contractor fund and operate the mine under a profit-share arrangement, following recent permitting progress and ongoing discussions around processing solutions.