Resources Top 5: Critical minerals power up as copper and silver join the charge
The critical minerals push just got stronger. Copper and silver have joined global lists, giving fresh tailwinds to ASX explorers.
Your standout small cap resources stocks for Wednesday, November 19, 2025.
- Massive sulphide intersected by ALV in first Palma hole
- Best ever silver intercept for SVL in 36-year history of Bowdens
- Experienced mining executive Marnie Finlayson appointed DEV managing director
Alvo Minerals (ASX:ALV)
Critical minerals are firmly in the spotlight as the US, EU and other Western nations develop supply chains from non-Chinese sources and with copper and silver now on critical mineral lists, the light has intensified.
In order to power the transformation to new age energy it will be nigh on impossible not to use copper, the key electrification metal, which explains the positive reaction to indications in initial results from drilling at the Palma project of Alvo Minerals (ASX:ALV) in Brazil.
The first diamond hole at Touro prospect intercepted 13m of massive sulphide mineralisation containing copper just 40m below surface.
This hole, PDT-117, tested the down-dip extension of gossanous mineralisation exposed in trenching, which forms part of a surface trend extending for more than 1km along strike.
The intercept sits well above the deeper FLEM conductor plates, which sit around 100m below, and now look like a bigger target still to come.
Drilling has moved to hole PDT-118, with assays expected in six to eight weeks.
Although Alvo stresses that visual sulphides aren’t a substitute for lab results, investors welcomed the initial results with shares flying 108.7% to 4.8c and closing at 3.5c, a lift of 52.17% on volume of more than 41 million.
Alvo is targeting VMS-style mineralisation discovered by soil sampling, mapping and auger drilling and recently confirmed by trench sampling.
The Palma project hosts a total MRE across three deposits of 7.6Mt at 2.02% CuEq or 6.2% ZnEq for 153,000t of contained CuEq tonnes (0.7% Cu, 3.4% Zn, 0.6% Pb, 16g/t Ag and 0.03 g/t Au).
“We are thrilled to be announcing this discovery at Touro from the very first drillhole which aimed at systematically following up a >1km mineralised zone with extensive gossanous outcrops,” MD Rob Smakman said.
“Drilling is the ultimate test and intersecting such wide, shallow and potentially high-grade mineralisation is an exciting result for the first ever drillhole completed at this new target.”
Silver Mines (ASX:SVL)
The best-ever mineralised intercept in the 36-year history of the Bowdens silver deposit near Mudgee in NSW enhances the position of Silver Mines (ASX:SVL) to deliver the critical mineral in an environment of record prices and growing demand.
As well as the traditional precious metals safe haven scenario, silver is in strong and growing demand due to its industrial uses, particularly in clean energy and other new economy technologies.
The headline result of 116m at 245g/t silver from 75m in the Main Zone also contained 0.48% lead and 0.29% zinc and included 28m at 185g/t Ag, 0.46% Pb and 0.24% Zn, and 35m at 412g/t Ag, 0.79% Pb and 0.35% Zn.
At 28,378 gram metres, this intercept eclipses the previous record — 145m at 144g/t silver drilled in 2003 — by more than 8,000 gram metres.
The result from Australia’s largest undeveloped silver deposit with a resource of 180Moz silver and a 71.7Moz reserve is among a swathe of strong numbers from a 13-hole, 2,226m geometallurgical and geotechnical diamond campaign designed to collect material for the first decade of production.
Another hole returned 58m at 121g/t Ag, 0.27% Pb and 0.39% Zn from surface (6,997 gram metres Ag), with 28m of this below the current ore reserve.
Results indicate that mineralisation continues at depth, boosting the case for future reserve expansion.
DevEx Resources (ASX:DEV)
The appointment by DevEx Resources (ASX:DEV) of experienced mining executive Marnie Finlayson as managing director, effective from December 1, has been well received by investors with shares up 30.43% to 15c.
The minerals processing engineer worked for Rio Tinto for several decades, where she was instrumental in shaping major corporate strategies, overseeing complex international projects and operations, and building high-performing teams.
Most recently she served as managing director – Battery Materials, where she led the development of Rio’s battery materials strategy.
It’s a major hire for DevEx, which is gearing up to drive its NT uranium portfolio and the Kennedy rare earths project harder.
Finlayson replaces Todd Ross, who will focus on Bedrock Credit Partners, a recently established natural resources private credit and independent specialist advisory firm he co-founded.
Argosy Minerals (ASX:AGY)
Lithium developer Argosy Minerals (ASX:AGY) is focused on bringing its Rincon lithium project in Argentina into commercial production and is making progress on a number of workstreams.
The 12,000tpa project development engineering and feasibility work is progressing toward achieving construction-ready status while a 40MW energy infrastructure agreement has been executed to power the project.
Energising the development of a well-defined pathway toward commercial production of battery-quality lithium carbonate products has been a recent $2m placement along with a supportive forecast of international lithium demand growth.
AGY is utilising engineering services companies and consultants to conduct the engineering and feasibility works to deliver a DFS and Front-End Engineering Design, using its lithium process technology and demonstration operations, which will enable a final investment decision.
Felix Gold (ASX:FXG)
An antimony hub that supported American forces during WWII and the Korean war is being readied by Felix Gold (ASX:FXG) to play a new role in supplying the critical mineral.
Testwork confirms ultra-high-grade, high-purity ore from the Treasure Creek project would enable military-grade antimony concentrate to be produced with minimal processing.
The flotation feed contains 89.2% antimony-bearing minerals, including 57.3% stibnite and 31.9% antimony oxides, with just 9.5% quartz/feldspar and trace impurities.
Single pass flotation achieved 74% Sb, exceeding the US military specification using standard reagents, while a validated direct-leach pathway returned 98% extraction, potentially a faster route to production than conventional smelting.
A third option, XRT ore sorting, has also been identified as a potential high-margin DSO pathway.
This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Silver Mines and Felix Gold are Stockhead advertisers, they did not sponsor this article.
Originally published as Resources Top 5: Critical minerals power up as copper and silver join the charge
