Resources Top 5: Somerset bursts out of blocks in Canada with consistent Jura North copper hits
Every hole of Somerset Minerals’ initial drilling campaign at Coppermine project’s Jura North in Canada intersects copper.
Your standout small cap resources stocks for Monday, November 24, 2025.
- SMM has strong start to copper exploration at Jura North in Canada
- Three-phase plan for Chariot to start small-scale lithium operations in Nigeria
- C29 ranks Sampsons Tank copper project as number one target
Somerset Minerals (ASX:SMM)
Somerset Minerals (ASX:SMM) has jumped out of the blocks at Jura North in its flagship Coppermine project in Nunavut, Canada, with every hole of its initial drilling campaign intersecting copper.
The drilling returned a top result of 42.7m at 2.69% Cu from 15.24m, including 16.8m at 3.96% from 41.15m and Jura North has been defined over around 250m of strike.
It is open in all directions and geophysics points to continuity at least 600m below the surface.
The successful start has resulted in planning and permitting advancing for a larger, high-impact 2026 drilling program, with mobilisation from February.
“Over the past six months, Somerset has achieved what many explorers take years to deliver,” managing director Chris Hansen said.
“We moved from initial acquisition to completing two back-to-back drill campaigns, each of which has delivered thick, continuous and high-grade copper intercepts across multiple zones at Jura North.”
Other results include:
- 59.4m at 1.5% Cu from 83.8m including 19.8m at 3.54% from 117.3m;
- 39.6m at 1.61% Cu from 111.3m including 18.3m at 3.14% from 131.1m;
- 61m at 0.85% Cu from 67.1m including 9.1m at 2.88% from 83.8m and
- 71.6m at 0.57% Cu from 89.9m including 10.7m at 2.47% from 131.1m.
At Jura North, RC and diamond drilling are designed to extend strike and depth and test potential parallel lodes while regional exploration is aggressively testing coincident geochemical and geophysical anomalies.
Jura represents about 5% of the 1,665km2 Coppermine project and there is potential to host multiple discoveries.
The company is awaiting results from regional geochemical and geophysical surveys targeting coincident geochemical-geophysical anomalies, and expects these in the next four weeks.
“With all the groundwork now complete, 2026 is shaping up to be a transformational year for Somerset,” Hansen said.
“We are now preparing for an aggressive program of RC and diamond drilling at Jura North to expand the system along strike, at depth, and into potential parallel lodes, while simultaneously advancing a pipeline of new regional targets for first-pass drilling.”
Chariot Corporation (ASX:CC9)
A three-phase plan incorporating artisanal mining may lead to Chariot Corporation (ASX:CC9) generating early cashflow through the start of small-scale operations at its Nigerian lithium projects.
The plan is part of a binding agreement between Chariot, its local partner Continental Lithium and joint venture partner C&C Minerals covering four project areas.
As part of the plan, artisanal mining at the Fonlo, Gbugbu, Iganna and Saki project clusters will be converted into scalable production.
Artisanal miners have been selling spodumene-rich ore to Chinese buyers since 2021, confirming product quality and market demand.
With offtake negotiations advanced, Chariot expects small-scale mining (SSM) to provide a pathway to near-term revenue.
Under the structure, Continental Lithium will manage on-ground mining, leveraging its established local presence and logistical capability while Chariot will oversee project financing, offtake arrangements and regulatory compliance.
Chariot may also provide a working-capital loan of up to US$500,000 on commercial terms to support initial SSM start-up and operating costs.
First up, Chariot will get boots on the ground with detailed mapping, sampling and selective drilling around the high-grade artisanal workings.
Next, material collected from the first phase will be sent to the lab for metallurgical testing to determine the best recovery process – whether that be gravity separation, flotation or a combination – and assess by-product potential such as tantalum or tin.
Results will form the basis of a processing flowsheet as part of the second phase and help define commercial viability.
Finally, Chariot and Continental will evaluate toll-processing options and ore transport logistics.
The team will weigh tolling costs, haulage distances and timing against the alternative of a modular onsite plant, selecting which route delivers the fastest and most profitable path to market.
C29 Metals (ASX:C29)
Following a comprehensive geological review of its Australian assets during the September quarter, C29 Metals (ASX:C29) has ranked the Sampsons Tank copper project in the Lachlan Fold Belt of NSW as its number one priority exploration target.
As such, the company plans to initially drill-test two promising targets.
Subsequently, C29 announced in October that it would not undertake any further exploration at the Mayfield copper and gold project in Queensland.
It will relinquish the tenements to the Queensland Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development.
As well as Sampsons Tank, the company is focused on assessing new acquisition opportunities across the globe with a view to diversifying its exploration portfolio.
Paterson Resources (ASX:PSL)
(Up on no news)
As part of scoping study work for the Grace gold-copper project in the prolific Paterson Province of Western Australia, Paterson Resources (ASX:PSL) aims to begin an 8500m RC drill program this month.
The infill and extensional drilling is designed to upgrade the mineral resource estimate for the project to the higher confidence indicated category.
As part of the scoping study, the company is also working with environmental consultants on targeted fauna and flora studies covering the project area.
Documentation for a Mining Lease application is also being completed.
To fund the ongoing work programs, PSL completed a $1.7m placement and rights issue during the September quarter.
Alvo Minerals (ASX:ALV)
It has been a strong few days for Alvo Minerals (ASX:ALV) after copper and zinc was identified in trenching at Touro prospect in the Palma project in Brazil on November 14.
Since trading at 2.3c on that day, shares have risen to 6.4c today. In between that was a trading halt, which was lifted on November 19 when massive sulphides were intersected in the first diamond hole at Touro.
Since the halt, shares have increased each trading day and today ALV was up as much as 36.18% before easing back to close 21.28% higher at 5.47c.
The first diamond hole intercepted 13m of massive sulphide mineralisation containing copper just 40m below surface and was drilled to test the down-dip extension of gossanous mineralisation exposed in trenching.
This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Chariot Corporation is a Stockhead advertiser, it did not sponsor this article.
Originally published as Resources Top 5: Somerset bursts out of blocks in Canada with consistent Jura North copper hits
