en.Wedoany.com Reported - Litchfield Minerals (ASX:LMS) advances drilling at the Oonagalabi copper-zinc asset in the Northern Territory, refining geological and target models, driving share price gains.

The company has completed 11 reverse circulation holes totaling 1,772 meters in the Northern Territory, and three diamond drill holes totaling 1,217.9 meters at the Bomb-Diggity, VT1, VT2, and Main Zone targets to target base metals and uranium.

Highlight intersections include: 68.26 meters at 0.62% copper, 1.44% zinc, and 4.3 g/t silver from 10 meters; 120 meters at 0.35% copper, 0.92% zinc, and 4.1 g/t silver from 52 meters; 0.69% copper, 1.14% zinc, and 5.3 g/t silver at 39 meters; and 50 meters at 0.47% copper, 1.36% zinc, and 4.2 g/t silver from 2 meters.

Minor copper sulfides were intersected in the meta-mafic zone at VT1, which Litchfield says indicates a new style of mineralization.

At Bomb-Diggity, hole OGRD001 intersected molybdenite-iron sulfide-quartz-carbonate veins containing hydrothermal nickel sulfide or nickel-bearing iron sulfide minerals.

Managing Director Matthew Pustahya said the simultaneous presence of nickel and molybdenum in hydrothermal veins is uncommon, supporting the view that multiple mineralizing events may have occurred across the region. He noted that while this drilling campaign has raised as many questions as answers, each result helps better understand the geological system. At Bomb-Diggity, the magnetic anomaly remains unresolved, and although drilling encountered sulfides and an unusual nickel-molybdenum-bearing quartz vein, neither the geology nor the assay results fully explain the intensity of the magnetic anomaly.

The Oonagalabi copper-zinc project, selected for BHP Xplor 2026, has been a key driver of recent strength.

The company plans, through the BHP Xplor program, to deploy two north-south magnetotelluric lines (pending approval) spaced 1 km apart, each 50 km long, across the interpreted Aileron-Irindina province boundary. Publicly available magnetotelluric data with 10 km spacing has indicated directions—downward and westward—while the higher-resolution survey aims to test whether these features indicate a large-scale mineralizing system.

Macro Metals (ASX:M4M)'s Nyapiri Macro has secured its first work package, supporting development activities at the Nyapiri iron ore project, driving a surge in share price.

The scope of work includes site establishment, temporary facilities, civil works, and rehabilitation at BHP's (ASX:BHP) Mt Goldsworthy project from June 2026 to May 2027.

The contract is valued at A$12.52 million, awarded under a framework agreement signed with BHP in February, positioning Nyapiri Macro as an Indigenous mining services contractor in the Pilbara region.

Nyapiri Macro is owned by Nyapiri Holdings (a Kariyarra, Ngarla, and Nyamal traditional owner enterprise) and Macro Mining Services (a wholly owned subsidiary of Macro).

Director Francisco Brown said this work package is a significant step for Nyapiri Macro, representing not only the first opportunity to provide mining services for a Tier 1 company on Country, but also the ability to offer local Indigenous employment and contracting opportunities, which holds great importance for our people and community. He expressed deep gratitude for the leadership and support from the Macro Mining Services team since co-founding the enterprise, and is proud to collaborate with them and BHP to deliver this work package safely and respectfully on Country.

This is the first work package awarded and executed under the BHP agreement, generating immediate revenue for Nyapiri Macro and Macro Mining Services as work and invoicing proceed.

Macro Managing Director Simon Rushton added that the team has worked closely with BHP over the past 12 months, reaching this milestone through a highly constructive and collaborative process. He said they look forward to executing the first substantive mining services contract for a Tier 1 client in the Pilbara, and with all Macro group companies now certified to ISO:9001, ISO:14001, and ISO:45001, they are focused on safely delivering the Mt Goldsworthy scope of work.

Hammer Metals (ASX:HMX) shares rose up to 20% as investors chase copper explorers with more advanced projects.

The company has no new news, with assay results pending. Resource upgrade drilling at Hammer's Kalman critical minerals project near Mount Isa in northwest Queensland is progressing well. Benchmark commodity price assumptions intended to support the first scoping study are currently 70% higher than those used in the May 2023 resource upgrade.

Copper metal remains in a long-term uptrend, even outperforming gold year-to-date, although prices are taking a breather after hitting record highs intraday in May. According to Benchmark Mineral Intelligence, copper on the London Metal Exchange set a record of US$14,527.50 per tonne in January, while the record high on the US COMEX exchange was US$6.71 per pound, reached during intraday trading on May 13, 2026. Supply disruptions at major mines, coupled with demand from data center wiring, broader electrification, and artificial intelligence buildout, have led analysts at Citi to forecast a return to US$14,500 per tonne in June and US$15,000 this time next year. According to Reuters, ANZ analysts expect copper prices to rise to US$14,000 per tonne by the end of 2026; Goldman Sachs has raised its year-end target to US$13,735 per tonne.

Concentrate production remains a major bottleneck, and the market is cautious about the impact of US tariffs on refined copper. Other companies working on the next phase of development in Queensland's copper production heartland include True North Copper (ASX:TNC), Evolution Mining (ASX:EVN)'s Ernest Henry mine, AIC Mines (ASX:A1M)'s Eloise, 29Metals (ASX:29M)'s Capricorn, and Carnaby Resources (ASX:CNB).

Beyond strong copper prices, Hammer may also be a multi-commodity value investment. The scoping study will consider a copper-gold-molybdenum-rhenium hub operation based at Kalman, with Hammer's Overlander, Elaine, Lakeview, and Jubilee projects potentially included in scope. Molybdenum and rhenium market prices are near historical highs—molybdenum above US$85,000 per tonne, and rhenium above US$7,000 per kilogram.

Black Bear Minerals (ASX:BKB) surged intraday to 70 Australian cents on high-grade silver intersections at the Shafter project.

Diamond drilling in the northeast of the project yielded results, with hole SFD019 intersecting 8.8 meters at 307 g/t silver, 0.7% lead, 0.8% zinc, and 0.1 g/t gold from 259.1 meters downhole, including a 1.4-meter interval at 958 g/t silver, 2% lead, 1.9% zinc, and 0.2 g/t gold. This includes a peak result of 0.5 meters at up to 1,169 g/t silver.

Additional drilling results outside the current non-JORC resource envelope have expanded the mineralized footprint, with recent rock chip and grab samples detecting gold, zinc, lead, and vanadium. The company first announced a foreign resource estimate for the project in October 2025, which only considered silver. BKB is now looking at potential value beyond the existing foreign mineral resource estimate of 17.5 million ounces (silver only, at a grade of 289 g/t).

The Shafter project in southwest Texas is located in the extension of the Sierra Madre Oriental in Mexico, which hosts the world's fifth-largest silver mine, operated by Newmont Corporation (ASX:NEM). Central Shafter was historically mined as the Presidio mine from 1883 to 1942, producing 35.2 million ounces of silver. To accelerate a restart, Shafter has a permitted Merrill-Crowe processing plant and refinery, grid-connected power, water rights, and over 160 kilometers of historical underground workings.

Nexus Minerals (ASX:NXM) rose over 10% after intersecting high-grade gold at the Payns prospect at the Wallbrook gold project in Western Australia.

All 30 drill holes intersected gold, with reverse circulation drilling (totaling 2,224 meters) returning assays including intersections of up to 19.00 g/t. Managing Director Andy Tudor said these strong results at Payns, following excellent results at Clement, demonstrate the momentum building at the Wallbrook gold project. Clement assays included intersections of up to 26.53 g/t during drilling to upgrade the Wallbrook resource inventory. Payns results show a continuous near-surface system with higher-grade components of strong mineralization, and there remains room for continued growth laterally and down-dip.

With drilling now complete at Payns and Clement, the rig is moving to Branches, then to Crusader-Templar, with the program still on track for completion in July. The strong progress of the drilling campaign is expected to enable the company to update the mineral resource estimate in the September quarter as planned. Currently, the inventory stands at just 304,000 ounces of gold combined at Crusader–Templar.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com