New drilling at Luca Mining’s 2,500 t/d Campo Morado underground polymetallic mine in Guerrero, Mexico, is intersecting long, near-surface sulphide intervals in unmined zones adjacent to existing workings. Standout hole CMUG-26-50 at Largo Norte cut ~184 m from 3.6 m depth grading 1.18 g/t Au, 72.42 g/t Ag, 0.39% Cu, 0.45% Pb and 1.67% Zn, including 18 m at 2.64 g/t Au and 152.34 g/t Ag, while Naranjo hole CMNJ-26-02 returned 9.6 m at 4.05 g/t Au, 241.09 g/t Ag and 0.90% Cu from 175.3 m. With C$34 million budgeted for 80,000 m of drilling across Campo Morado and Tahuehueto and 16.6 Mt already in measured and indicated resources, these near-infrastructure intercepts point to incremental tonnes and mine-life extension ahead of a year-end expansion technical update.

An updated resource estimate for Avalon Advanced Materials’ Nechalacho Basal zone in the Northwest Territories lifts global contained rare earths by 42%, with measured and indicated resources now at 58.6 million tonnes grading 1.49% TREO and inferred resources more than doubling to 130.6 million tonnes at 1.31% TREO. The estimate applies a net metal return cut-off of $366.40 per tonne, 14% higher than in 2013, and draws on roughly 120,000 metres of drilling in 582 holes. A new PEA due in Q4 will revisit the 2013 feasibility metrics of 9,300 t/y TREO over 20 years, $1.3 billion post-tax NPV (8% discount) and $1.6 billion capex.

Florence in-situ copper recovery mine in Arizona must triple output in H2 2026 to reach Trekor Metals’ 30–35 million lb annual target, after producing 6.7 million lb in the first half from about 110 wells. The operation is adding roughly 26 new wells this month, plans 80–100 wells per year towards 600–700 in total, with wells drilled to 245–275 m and current wellfield flows around 12,000 L/min at 1.6 g/L Cu. Cash costs at Florence were US$4.72/lb in Q2 versus a long-term target of about US$1.30/lb, supported by Gibraltar’s 110–115 million lb/y output at US$2.41/lb.