Updates on the Achilles Polymetallic Mine in Australia and Other Developments

Australian Gold & Copper (AGC) announced the maiden resource for its Achilles discovery in New South Wales.

The project currently has an ore resource of 10.3 million mt at a grade of 116 g/mt silver equivalent, equating to 38.5 million ounces of silver equivalent.

This includes 28.7 million ounces amenable to open-pit mining and 9.8 million ounces for underground extraction.

AGC estimated that since the first mineralization intercept in April 2024, the discovery cost has remained below 14¢ per ounce of silver equivalent.

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New Murchison Gold updated the resource for its Crown Prince project in Western Australia.

The project now holds an ore resource of 2.25 million mt at a gold grade of 3.9 g/mt, and an ore reserve of 920,000 mt at 4.6 g/mt.

Over the past three months, the company mined 160,000 mt of ore at a grade of 1.9 g/mt.

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Brightstar Resource reported resource increases of 32% at the Yunndaga deposit and 29% at the Lady Shenton deposit within its Menzies gold mine project.

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Brazilian Rare Earths (BRE) released the scoping study results for its Amargosa bauxite-gallium project in Bahia, Brazil. The mine is estimated to require a construction investment of $119 million and is projected to produce 5 million mt of ore annually.

BRE forecasts that over the 17-year mine life, the project will generate an annual cash flow of $84 million, with an after-tax net present value of $630 million and an internal rate of return of 82%.

The company plans to spin off Amargosa and list it separately on the ASX in 2026.