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.

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.

Victory Metals has reported “breakthrough metallurgical results” from its North Stanmore rare earths project in Western Australia, described as one of the largest clay-hosted rare earth deposits in the country. Testwork on the ionic clay mineralisation indicates significantly improved rare earth recoveries using relatively simple leach conditions, pointing to lower acid consumption and shorter residence times than hard-rock counterparts. For process engineers and mine planners, the results suggest potential for lower capital-intensity heap or tank leach circuits and more competitive operating costs if scaled successfully.