Exploration continues apace across the country. Here is a round up of a few of the notable announcements from the past week.
Beacon receives first batch of Iguana assays
Beacon Minerals has announced the first batch of assay results from its FY2026 resource development drill program for the Iguana deposit at its Lady Ida project.
Beacon executive chairman and managing director Graham McGarry said the continued high grades and strong continuity of the Iguana deposit has set the company up for an updated mineral resource estimate and ore reserve in late January 2026.
Beacon has received assays results for the first 118-holes from the 14,732 metre RC drill program, with significant high-grade gold intersections recorded as part of the first phase of the 40,000 RC and 10,000 diamond metre programs to be drilled this financial year.
The Iguana deposit is a part of the Lady Ida project, which sits on the inferred extension of the Ida Fault and is a part of the north-south striking Mount Ida Greenstone Belt.
The company also announced the execution of a Land Use Agreement, marking another step forward in its relationship with the Marlinyu Ghoorlie Native Title Claimant Group.
Lincoln and Revera sign MOU for magnetite project
Lincoln Minerals and Revera Energy have signed a Memorandum of Understanding (MOU) to investigate a potential joint venture to develop an iron ore pellet plant on South Australia’s Eyre Peninsula.
Under the MOU, the parties will assess the feasibility of a direct-reduction (DR) grade green pellet plant that would use green hydrogen as an alternative fuel to natural gas in the pellet induration process.
Revera is an independent energy infrastructure platform backed by global investment firm Carlyle. The company is advancing the Cape Hardy green hydrogen project, a utility-scale renewable energy and green hydrogen development proposed for the Eyre Peninsula.
Lincoln is progressing its Eyre magnetite project, which hosts a 1.23-billion-tonne resource capable of being processed into a high-grade direct-reduction iron product.
The proposed collaboration reflects growing interest in integrating green hydrogen into low-emissions iron and steel supply chains.
E79 exercises option on Cue
E79 Gold has exercised an option to acquire full ownership of the Cue gold project in Western Australia’s Murchison region, securing six tenements for a total consideration of $50,000 in cash and 3,952,570 fully paid E79 Gold shares valued at $100,000.
The acquisition was completed through the company’s 90 per cent–owned subsidiary, Cue Metals Pty Ltd, and represents the final step in consolidating control of the project.
Exploration activities are set to commence immediately, with E79 Gold staff scheduled to visit the site later this week ahead of a planned gravity survey beginning this weekend. The company said the high-resolution gravity survey will play a critical role in defining and mapping gold-fertile structures across the project area.
E79 Gold chief executive officer Ned Summerhayes said the gravity dataset will be essential for identifying cross-cutting fault systems that control mineralising fluid flow, helping guide the next phase of exploration and unlock the project’s full potential.
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