#MiningUpdate

[colitco]

Challenger Gold Secures Investment Protection Agreement, Unlocks Strategic Value in Ecuador

Challenger Gold Limited (ASX:CEL) has taken a major step toward de-risking its South American portfolio by signing an Investment Protection Agreement (IPA) with the Government of Ecuador for its 100%-owned El Guayabo Project.

ASX:CEL is trading at $0.082.

Key Milestone: Ecuador Investment Protection Agreement

✅ Covers US$75M investment from 2019 to 2027

⚖️ Guarantees legal certainty, regulatory stability & protection from expropriation

🌐 Disputes resolved via international arbitration in London

🔐 8-year initial term, renewable — secures long-term project development

⛏️ Timed with El Guayabo resource doubling to 9.1Moz AuEq, reinforcing project scale

💼 Supports monetisation strategy — TSX listing, JV, or sale under review

Management Insight:

Kris Knauer, Managing Director: "This Agreement is a significant de-risking milestone, providing CEL with legal certainty and long-term investment security in Ecuador."

Why This Matters:?

From sovereign protection to resource scale-up, Challenger Gold continues to build a platform for long-term success across Latin America.

✨ World-class resources. Locked-in security. Strategic upside unlocked.

Read More - https://colitco.com/challenger-gold-signs-ecuador-investment-deal-boosts/

⚠️ This is not investment advice. Please do your own research before making any investment decisions.

[colitcomediasblog]

Outstanding Drilling Results at Alice River Gold Project

The core of the Pacgold Quarterly Activities Report lies in its exceptional drilling results. The company has achieved significant intercepts of high-grade gold zones across multiple drilling sections. These intercepts, achieved through both diamond and RC (reverse circulation) drilling, confirm the continuity and consistency of the mineralized structure. Such outcomes are not only promising from a resource estimation perspective but also for long-term development strategies.

Particularly noteworthy is the presence of deep mineralization zones that hint at a multi-phase gold system. The drilling outcomes have exceeded expectations and provided geological teams with invaluable data to fine-tune future drilling strategies. The consistency in mineralized grades over vertical and lateral distances points towards a robust and expanding gold system beneath the surface.

Pacgold's technical team has successfully mapped out zones of structural complexity, typically known to host richer gold deposits. These structural controls include shears, fault lines, and folds that are now better understood thanks to the recent drilling campaigns. Such insights enable targeted drilling, thereby reducing exploration risk and improving resource conversion efficiency.

Furthermore, the drilling campaign has played a crucial role in redefining the geological model of the Alice River Gold Project. This has led to an updated interpretation of the resource potential and enhanced the confidence level in future exploration phases. The quality and depth of the data collected are expected to drive a more aggressive and informed exploration program in upcoming quarters.

[colitcollp]

Challenger Gold Accelerates Towards High-Grade Production with Toll Milling Start

Challenger Gold Limited (ASX: CEL) (OTCQB: CLLEF) is making significant strides in the Australian gold exploration sector, with its flagship Hualilan Gold Project in Argentina advancing towards near-term production. The company’s strategic initiatives are driving value creation, with an optimized mine schedule that enhances processing grades and accelerates the path to gold production.

Challenger Gold’s commitment to advancing Hualilan through optimized mine planning, toll milling, and a rapid PFS underscores its focus on becoming a leading high-grade gold producer. With key milestones on the horizon, the company is well-positioned to unlock significant value and establish itself as a key player in the Australian gold exploration and production landscape.

[colitco]

Challenger Gold Doubles Resource in March 2025 Quarter, Unlocks Strategic Value in South America

Challenger Gold Limited (ASX:CEL) has delivered a standout March 2025 quarter, achieving a 100% increase in Mineral Resource Estimate at its Ecuador projects and accelerating mining readiness at its Hualilan Gold Project in Argentina.

Challenger Gold:CEL is trading at $0.081.

Quarterly Highlights:

Ecuador Gold Resource Doubles to 9.1Moz AuEq

🚀 Major growth milestone — among largest undeveloped gold assets in South America

🏆 6.9Moz AuEq attributable to CEL across El Guayabo (100%) & Colorado V (50%)

⛏️ High-grade core of 2.1Moz @ 1.0 g/t AuEq enables early-stage production upside

🔍 Mineralisation confirmed in all 13 drilled anomalies — open along strike & depth

🧭 Strategic options under review: TSX listing, JV or asset sale

Hualilan Project (Argentina) Moves Toward Production

🛠️ Final pit designs complete for Sanchez, Norte, and Magnata

🏗️ Toll Milling plan based entirely on Indicated Resources — Inferred material stockpiled

⚙️ Flexible mining strategy: Sentazon pit on standby

🏭 Refurbishment underway on toll milling plant; PFS near completion (JORC + NI 43-101)

👷‍♂️ Veteran mining leader Ubirata De Oliveira appointed GM Operations

Corporate & Funding Milestones:

🎖️ Eduardo Elsztain appointed Chairman — leading Argentine businessman with mining, property & agri-sector pedigree

💰 US$2M drawn from US$20M project finance facility to support early mining & corporate needs

🧪 $2.9M exploration spend, majority at Hualilan including strategic surface rights acquisition

📊 Admin/corporate spend $1.4M, including PFS and IR one-off costs

Strategic Momentum:

💵 Early Cash Flow Potential

Front-loaded mining schedule designed to unlock high-grade ore from Day 1

3–6-month stockpile buffer ensures operational continuity

📈 Valuation Re-Rate Potential

Resource growth + TSX listing/farm-in pathways offer clear rerating catalysts

🌎 LatAm Gold Exposure with De-risked Development Path

Hualilan and Ecuador projects advancing toward production with defined timelines and funding support

Why Challenger Gold Is One to Watch: From resource scale-up to near-term production and corporate re-positioning, Challenger Gold is building a platform to become a leading gold developer in Latin America.

✨ High-grade gold. Smart strategy. Strategic growth unlocked.

🔗 Full editorial here: https://colitco.com/challenger-gold-achieves-milestone-march-2025-quarter/

⚠️ This is not investment advice. Please do your own research before making any investment decisions.

[colitco]

Challenger Gold Confirms Refurbishment of Toll Milling Plant on Track Following Austral Gold Update and Independent Inspection

Challenger Gold (ASX:CEL) reports strong progress at the Casposo Processing Plant in Argentina, as Austral Gold confirms refurbishment is advancing safely and efficiently across all workstreams.

This aligns with CEL’s second independent inspection, carried out by the same engineers behind the December 2024 Audit & Restart Plan.

Key Highlights:

⚙️ Austral Gold confirms robust refurbishment progress ✅ CEL’s inspection confirms:

Strong advancement across all processing areas

Refurbishment on schedule

Solid-liquid separation capacity meets 1,000 TPD target

Enough time to hit H2 2025 commissioning goal under the Toll Milling Agreement

Refurbishment Milestones:

🔩 Crushing circuit complete – ready for commissioning 🛠️ Leaching tank reducers 100% refurbished 💧 Process water system done ⚡ 80% of electric motors serviced 🔁 Belt filter refurbishment 80% complete 🔌 Electrical cabling cleanup finished 🔄 40% valve replacements installed

Strategic Toll Milling Plan:

🪙 Processing of 450,000t over 3 years locked in via Toll Milling Agreement 📈 Goal: Fast-track early cash flow while gold prices soar above US$3,300/oz 🏗️ Funds to support Hualilan standalone project (FTL circuit, HL pad, mining fleet)

Why This Matters:

Austral’s announcement and CEL’s inspection report validate a clear, fast-moving path to production.

Casposo Legacy:

⛏️ 323,000 oz gold + 13.2 Moz silver produced ⚗️ Recoveries: 90% Au & 79% Ag

Investor’s Outlook:

Challenger Gold (ASX:CEL) is currently trading at $0.081, reflecting growing investor confidence in the company’s near-term production strategy. With a fully refurbished Casposo plant on the horizon and a locked-in Toll Milling Agreement, CEL is positioned to deliver early revenue while preparing for standalone development at Hualilan. Backed by a strong legacy, credible partners, and favourable gold pricing, Challenger offers a compelling value proposition for growth-focused investors.

Read the full ASX release (30 April 2025): https://colitco.com/challenger-gold-refurbishment-of-toll-milling-plant/

Disclaimer: This is not financial advice. Please do your own research before investing.

[colitco]

📢 CAPRICE RESOURCES (ASX: CRS) – DRILLING COMMENCES AT ISLAND GOLD PROJECT: TARGETING HIGH-GRADE DISCOVERIES

Caprice Resources Ltd (ASX: CRS) has launched its 5,000m Phase 3 RC drill program at the Island Gold Project, aiming to unlock previously unrecognised, high-grade structurally controlled gold targets. Early drilling focuses include:

28m @ 6.4g/t Au from 114m downhole (Vadrains follow-up)

22m @ 2.3g/t Au from 168m and 2m @ 14.1g/t Au (Evening Star discovery)

Southern strike extension drilling at New Orient Gold Mine

Testing "Break of Day" style structural targets across a 5km prospective corridor

⚒️ 2025 Exploration Strategy

RC drilling underway targeting multiple high-grade zones

First assay results expected in June

Over 30 structural targets along the high-potential corridor to be systematically tested

Focus on both near-surface and deeper high-grade gold discoveries

🏅 Project Highlights

Five kilometres of underexplored, highly prospective strike

Historic drilling mainly shallow—significant depth potential

Close to established gold processing facilities in WA’s Murchison district

Well-funded to complete the drilling program

🗣️ CEO, Luke Cox, commented: "The Phase 3 drill programme has commenced, and we will continue testing this highly prospective corridor through Baxters, Vadrains and the new discovery at Evening Star, before moving north to test several Break of Day style structural high-grade gold targets, and southern extension to the New Orient Gold Mine. The focus is to deliver a significant maiden high-grade gold resource at Caprice’s Island Gold Project, which is strategically located between Ramelius Resources Ltd and Westgold Resources Ltd gold processing facilities in the highly prospective Murchison district of Western Australia."

📈 Investor’s Outlook: ASX: CRS last traded at A$0.051. Caprice is positioning itself to deliver a significant maiden high-grade gold resource in 2025, supported by aggressive drilling and strategic location advantages. Gold prices remain robust, supported by global economic uncertainty, strong central bank buying, and safe-haven demand—further enhancing the upside potential for emerging gold explorers like Caprice.

🔗 Read the full announcement - https://api.investi.com.au/api/announcements/crs/14d15ea1-bbe.pdf

⚠️ This is not investment advice. Please conduct your own research before making any investment decisions.

[colitco]

📢 PACGOLD (ASX: PGO) – Q1 2025 ACTIVITIES REPORT: ALICE RIVER PROJECT BUILDING MOMENTUM TOWARD MULTI-MILLION-OZ POTENTIAL

Pacgold Limited (ASX: PGO) has recalculated key drilling intervals at its 100%-owned Alice River Gold Project, confirming the potential for a large-scale Intrusive Related Gold System. Updated results support a bulk-tonnage model at the Central Target:

ARDH044: 114m @ 1.8g/t Au from 242m

ARDH007: 30m @ 3.0g/t Au from 103m

ARDH036: 55m @ 1.5g/t Au from 85m

ARDH025: 91m @ 0.9g/t Au from 274m

Anomalism now extends over 12km of near-continuous strike, open north and south—supported by final Aircore results from Victoria to Jerry Dodds.

⚒️ 2025 Exploration Strategy

RC drilling commenced in April targeting high-priority zones

Diamond drilling to follow on Central and Southern Targets

IP survey and drone magnetics at White Lion to begin in May

Infill and extension of untested anomalies planned

🏅 Project Highlights

Extensive drilling and geophysics campaign underway

ARFZ magnetic inversion reveals Mt Leyshon-style alteration

Significant untested strike zones along Alice River & Posie Faults

Mineral Resource update expected in Q2 2025

📈 Investor’s Outlook: ASX: PGO last traded at A$0.066 (+4.76%). The Company held A$2.085M in cash at the end of March 2025. With strong gold tailwinds, growing scale, and an aggressive field program, Pacgold remains one to watch in the junior gold space.

🔗 Read the full announcement - https://clients3.weblink.com.au/pdf/PGO/02939332.pdf

⚠️ This is not investment advice. Please conduct your own research before making any investment decisions.

[colitco]

⚒️ Impact Minerals Locks in High-Priority Nickel-Copper-PGE Drill Targets at Caligula Prospect 🔍⛏️

Impact Minerals (ASX: IPT) has defined compelling drill targets at the Caligula Prospect, part of its 100%-owned Arkun Project in WA, signalling a major step forward in its search for nickel-copper-PGE mineralisation.

Soil geochemistry and geophysical surveys have outlined a robust nickel-palladium-gold-chromium-cobalt anomaly aligned with strong MMT and airborne EM conductors — making Caligula a drill-ready target ahead of its maiden program in Q2 2025.

💰 Backed by a $180,000 EIS Grant, the drill campaign will commence as the renounceable rights issue closes on March 21 — adding further momentum to IPT’s exploration push.

📊 Geochemical Standouts:

Palladium: 111 ppb ✨

Nickel: 344 ppm ⚙️

Gold: 42 ppb 🪙

Chromium: 1,102 ppm 🔩

Cobalt: 68 ppm 🔋

Platinum: 12 ppb 💎

🌟 The Caligula anomaly bears strong resemblance to Nova-Bollinger or Julimar-style deposits, raising hopes for a significant discovery.

📈 Investor Outlook: With a current share price of $0.006 and market cap of $21.68M, Impact Minerals offers substantial upside potential as it gears up to drill-test a tier-one target in a fertile mineral belt.

🔗 Read Full ASX Announcement: https://colitco.com/impact-minerals-identifies-major-drill-targets-for-nickel-copper-pge-at-caligula-prospect/

⚠️ This is not investment advice. Please conduct your own research before making any investment decisions.

[colitco]

📣 Impact Minerals Expands to 1,770 sq km at Broken Hill – Strategic Acquisition Strengthens Copper Exploration Plans

Impact Minerals Limited (ASX: IPT) has secured a substantial landholding near the iconic Broken Hill silver–lead–zinc mine, acquiring a 675 sq km tenement package from New Frontier Minerals Limited (ASX: NFM). This move significantly enhances Impact’s copper-focused exploration strategy in western New South Wales.

💰 Share Price: $0.0080

🔹 Key Highlights:

✅ Expanded Tenure – Impact now holds 1,770 sq km of ground, with over 100 km of strike, surrounding one of the world’s greatest mines. ✅ Exploration Backed by BHP Xplor – Builds on a novel copper exploration model developed during Impact’s participation in the 2023 BHP Xplor program. ✅ Copper Potential Confirmed – Mapping and sampling of 99 gabbro sills has identified multiple high-priority targets, including within the newly acquired ground. ✅ Next Steps: Ground Geophysics – Upcoming surveys will refine targets ahead of drilling. ✅ Acquisition Terms – Impact to acquire BHA No.1 Pty Ltd, a subsidiary of NFM, for $275,000 in IPT shares, subject to staged voluntary escrow over six months. ✅ Project Advancement Priority – The company’s immediate focus is on completing a Pre-Feasibility Study (PFS) to unlock further value from its growing copper portfolio.

🗣 Mike Jones, Managing Director of Impact Minerals: “This acquisition consolidates our position in the Broken Hill region and sets the stage for major copper discoveries based on innovative geological thinking.”

📈 Investor Outlook – The expansion comes amid renewed exploration interest in the Broken Hill district, supported by strong silver prices and longer-term demand for zinc and lead. With fresh targets, PFS development underway, and a clear strategy in place, Impact is well-positioned to advance its next phase of discovery.

🔗 More details & ASX release: https://colitco.com/impact-minerals-broken-hill-new-acquisition/

⚠️ This is not investment advice. Please do your own research before making any investment decisions.

[colitco]

🚀 Astral Resources (ASX: AAR) December 2024 Quarterly Report Update!

�� Astral Resources is advancing its gold projects with significant progress in exploration, resource updates, and strategic investments.

📌 Key Highlights:

⛏️ Mandilla Gold Project:

Pre-Feasibility Study on track for Q2 2025 completion.

21-hole (3,702m) RC drilling at Iris deposit – assays received.

16-hole (2,558m) RC drilling at Eos deposit – assays pending.

4-hole (1,605m) DD drilling at Mandilla deposit – assays pending.

6-hole (753m) geotechnical DD at Eos & Hestia deposits – assays pending.

70-hole (6,502m) RC drilling at Theia deposit – assays completed.

⛏️ Feysville Gold Project:

Updated JORC 2012 MRE: 5.0Mt @ 1.2g/t Au for 196koz gold.

New MREs for Kamperman, Rogan Josh, Think Big deposits.

Final 300m of a 31-hole (3,843m) RC drilling at Kamperman – assays received.

3-hole (300m) in-fill RC drilling at Kamperman – assays pending.

💰 Corporate Moves:

$25Million raised through a two-tranche placement (263M shares @ $0.095).

Cash balance: $25.2Million as of 31 Dec 2024.

Acquired 19.99% stake in Maximus Resources via a share swap.

Non-binding offer to acquire Maximus at 7.0c/share (all-scrip).

📈 Investor's Outlook:

This update signals strong progress across Astral’s core gold projects, positioning the company well for growth:

Solid cash position ensures funding for ongoing exploration and feasibility studies.

The Mandilla PFS and strategic Maximus investment highlight long-term growth potential.

Significant exploration success at Mandilla and Feysville enhances asset value.

🔗 Read the Announcement Here: https://api.investi.com.au/api/announcements/aar/38ff3cc5-791.pdf

⚠️ Disclaimer: This is not investment advice. Please conduct your own research before making any financial decisions.

[colitcomediasblog]

Technical Expertise and Leadership Behind the Campaign

Behind every successful exploration project is a team of dedicated professionals, and St George Mining is no exception. The company’s leadership comprises a blend of geological expertise, financial acumen, and project management experience. This team has a proven track record of delivering exploration success, making the most of every dollar invested in the field.

The CEO of St George Mining has consistently emphasized the importance of transparency, data integrity, and stakeholder engagement. This philosophy is reflected in the meticulous planning and execution of the Araxá project. Weekly updates, field reports, and community consultation meetings are all part of the company’s commitment to responsible resource development.

In addition to its in-house team, St George Mining partners with highly qualified contractors and service providers who bring specialized skills to the table. Whether it’s geophysical interpretation, core sampling, or environmental monitoring, every aspect of the drill campaign is supported by industry best practices and state-of-the-art technology.

The company’s board of directors includes individuals with deep roots in Australia’s mining landscape, lending valuable strategic oversight to the campaign. This strong leadership structure ensures that the $5 million placement is not just spent, but invested wisely—with measurable milestones and clear deliverables guiding every phase of the exploration journey.

[colitcomediasblog]

Why is Western Australia attractive for gold mining?

Western Australia is a globally recognized mining region known for its high-grade gold deposits, stable regulatory environment, skilled workforce, and world-class mining infrastructure.

Looking ahead, the outlook for Platina Resources is marked by confidence and clarity. The company’s ability to convert its strong cash position into long-term value hinges on its continued focus on disciplined acquisitions, transparent governance, and innovation in exploration. It is a roadmap that promises sustainability in every sense.

Over the coming quarters, investors can expect a series of announcements detailing new acquisitions, exploration updates, and feasibility studies. Each of these milestones will underscore Platina’s commitment to becoming a leading mid-tier gold producer with deep roots in Western Australia.

Additionally, advancements in exploration technology and AI-driven resource modeling are likely to play an increasing role in Platina’s asset evaluation process. These tools will help the company de-risk its acquisitions and accelerate the discovery-to-development timeline, thereby improving capital efficiency.

In summary, the future looks bright not just because of gold’s strong market fundamentals, but because Platina Resources has the financial strength and strategic acumen to harness that momentum. Its WA-centered growth strategy, backed by smart capital deployment, places it in a league of its own.

[colitco]

🚨 St George Mining (ASX: SGQ) Accelerates Araxá Drilling Amid Rare Earths Crunch 🇧🇷⚙️

St George Mining is advancing drilling at its 100%-owned Araxá Project in Brazil—a globally significant rare earths & niobium asset.

🔍 Highlights:

🔹 JORC Resource: 40.64Mt @ 4.13% TREO 🔹 NdPr Content: 320,000 tonnes – used in EVs, defence, wind turbines 🔹 Niobium Resource: 41.2Mt @ 0.68% Nb₂O₅ 🔹 Active Drilling: 7,200m underway to expand resource base 🔹 Environmental Studies: Flora & cave assessments completed 🔹 Strategic Backing: Selected for Brazil’s MAGBRAS rare earths initiative

🌍 Global Context:

With China imposing new rare earth export controls and the US DoD injecting $400M into MP Materials, non-Chinese supply chains like Araxá are now strategic assets.

💼 Investor Outlook:

Araxá’s shallow, high-grade mineralisation supports low-cost, open-pit mining. Combined with rising global demand for EVs, defence tech, and magnets—SGQ’s rare earth exposure is timely. Environmental permitting is progressing well, with first assays expected this month.

As of July 14, 2025, SGQ trades at AUD 0.04 with a market cap of AUD 109M.

👉 Araxá is emerging as a high-impact, scalable project in the global critical minerals race.

📖 Full article - https://colitco.com/st-george-mining-araxa-drilling-amidst-rare-earth/

[colitcomediasblog]

Osmond Resources Strikes High-Grade Rutile and Zircon at Orion Zone 2

Osmond Resources Limited is making waves with the announcement of high-grade rutile and zircon discoveries at the newly defined Orion Zone 2 in South Australia. This revelation signals a significant breakthrough in the company’s exploration journey and strengthens its presence in the critical minerals landscape.

The standout findings from recent sampling include impressive Total Heavy Mineral (THM) grades up to 17.4%, with rutile reaching up to 16.1% and zircon measuring as high as 6.5%. These grades mark Orion Zone 2 as a promising location for strategic mineral exploration with the potential for future development.

[colitcomediasblog]

Pacgold Ignites High-Potential Drilling at Alice River Gold Project

Pacgold Limited (ASX: PGO) has launched a dynamic new phase of Reverse Circulation (RC) drilling at its wholly owned Alice River Gold Project, located 300km northwest of Cairns, North Queensland. This latest initiative kicks off a 10,000-metre drilling campaign aimed at unlocking the project's promising mineral potential.

Leading the charge is the Central Target area, which holds a high-priority status in this exploration campaign. What makes this zone stand out? It hosts shallow, thick mineralisation concentrated within the top 70 metres of the deposit—a feature that makes it both accessible and economically enticing.

Notably, Pacgold has never drilled this specific area before, marking this as a strategic and potentially game-changing move in the company’s broader exploration blueprint.