Exploration activity across Australia’s resources sector this week includes Magmatic Resources commencing diamond drilling at its Myall copper–gold project in New South Wales, targeting deeper porphyry-style mineralisation beneath previous RC intercepts. Parallel campaigns involve new drill programmes and project development steps at multiple sites, signalling continued spend on brownfield extensions and greenfield targets despite cost pressures. Geotechs and mine planners should watch for updated resource models and potential shifts in pit-shells or underground designs as deeper porphyry and structurally controlled zones are tested.

High-grade gold intercepts from Ora Banda Mining’s Golden Pole deposit are boosting the underground potential of the Waihi project near Kalgoorlie, with targeted follow-up drilling extending mineralisation along strike and at depth. The company is focusing on narrow, high-grade lodes accessible from existing underground development, aiming to convert recent hits into JORC-compliant resources and near-term ore feed for the Davyhurst processing plant. For geotechs and mine planners, the results point to deeper stoping fronts, tighter ground control requirements and potential schedule changes for underground access development.

Austral Resources has agreed to acquire Glencore AG’s Lady Loretta underground copper mine in north-west Queensland, adding a high-grade sulphide operation to its existing heap leach–SX/EW oxide business at Anthill. The Lady Loretta asset, previously a major zinc–lead–silver producer near Mount Isa, includes established underground workings, a decline, ventilation infrastructure and a permitted mining lease, giving Austral a second ore source within trucking distance of regional concentrators. The deal signals a shift towards a mixed oxide–sulphide portfolio, with implications for new concentrator offtake, mine planning and geotechnical management of deeper stopes.