Roxmore Resources Reports Strong Drill Results at the Converse Gold Project, Battle Mountain - Eureka Trend Nevada
(TSX: RM) (OTCQX: GARLF) Roxmore Resources Inc. reported gold and silver assay results from its ongoing drill campaign at the Converse Gold Project, including a significant intercept of 247.2m grading 0.51 g/t Au and 3.79 g/t Ag from 131.7m in hole CV26-010C, with a higher-grade interval of 34.3m grading 1.25 g/t Au from 246.3m. The company is conducting a Phase 1, 30,000-metre infill and extension winter drilling campaign, with one RC rig and one diamond core rig currently operating, and a second diamond drill rig scheduled to arrive in mid-July and a second RC drill expected in September. The Converse Gold Project contains an Indicated Mineral Resource Estimate of 103 million tonnes at an average gold grade of 0.65 g/t, containing 2.16 million ounces Au, and an Inferred Mineral Resource estimate of 218 million tonnes at an average gold grade of 0.43 g/t containing 3.04 million ounces Au. The completed PEA outlines an After-Tax NPV5% of US$2.7 Billion, IRR of 43%, and payback achieved in 2.2 years at a long term consensus gold price of US$3,600/oz. The Simple Heap leach operation features 3.5 million payable ounces LOM at 267,000 oz per year on average in the first full 8 years of production and 246,000 oz on average over the 14-year Life of Mine. Drilling is planned to continue throughout 2026 and 2027. The company projects ongoing drill results, silver re-assay program results, development and permitting updates in Q3 2026, and metallurgical testwork results and an updated Mineral Resource Estimate in Q1 2027.
Impact Minerals Set for Phase 2 Drilling at Commonwealth Gold-Silver Project
(ASX: IPT) Impact Minerals is set to benefit from a new phase of diamond drilling at its Commonwealth-Silica Hill gold-silver project in central New South Wales, where joint venture partner Kuniko (ASX: KNI) has mobilised a rig to site. The initial Phase 2 program will comprise approximately 1,340 metres across six holes targeting extensions to the high-grade mineralisation identified during the successful first campaign. Impact retains a 30% interest in the project, free-carried to a decision to mine, while Kuniko can earn up to 70% by spending $3 million on exploration over four years. The new drilling will also support an upgraded mineral resource estimate planned for the fourth quarter of 2026. The first campaign intersected a broad 84m zone grading 2.6 grams per tonne gold equivalent, including 3.4m at 50g/t gold equivalent and a bonanza-grade 0.5m vein grading 347g/t gold equivalent, comprising 27g/t gold and 20,603g/t silver. Phase 1 returned 8m at 8.6g/t gold equivalent from the Main Shaft area including 3.8m at 17.4g/t gold equivalent, while Commonwealth South produced 7.1m at 9.7g/t gold equivalent including a higher-grade core of 3.1m at 21.6g/t gold equivalent. The company projects that results from Phase 2 will be incorporated into a planned resource update expected in the December quarter, followed by planning for a third drilling phase.
Finder Energy Secures Development Approval for KTJ Oil Fields
(ASX: FDR) Finder Energy has secured approval for the field development plan covering the Kuda Tasi and Jahal (KTJ) oil fields offshore Timor-Leste. The approval from the Autoridade Nacional do Petróleo provides the principal regulatory authorisation required to develop the fields and clears a pathway toward a final investment decision during the September quarter. Finder is continuing financing, contracting, and procurement work in parallel to maintain an accelerated schedule targeting first oil between late 2027 and early 2028. The first development phase will use three subsea production wells, with two targeting the Kuda Tasi field and one planned for Jahal. The project has progressed through subsurface studies, engineering design, environmental work, development area approval, and acquisition of the Petrojarl I floating production storage and offloading vessel since Finder assumed operatorship in August 2024. Finder is targeting completion of debt financing and an independent competent person’s report supporting the funding process during the September quarter. The company also plans to execute other major development agreements and contracts, and secure a suitable rig for the development campaign, as the project moves toward construction readiness.