Resources Top 5: Newly listed Tali Resources on West Arunta copper trail

Geological modelling of gravity, magnetic and airborne electromagnetic data confirms five targets for initial drilling by TR2 in the West Arunta.

Tali Resources is blazing a trail in one of Australia’s most exciting emerging mineral regions, the West Arunta in WA. Pic: Getty Images

• TR2 closing in on initial drilling at the West Arunta project in WA

• SGQ is upscaling drilling at the Araxa rare earths and niobium project in Brazil

• A significant quarter saw ZNC achieve key milestones

Your standout small cap resources stocks for Monday, July 28, 2025

Tali Resources (ASX:TR2)

One of Australia’s most exciting emerging mineral regions is the West Arunta adjoining the Northern Territory border in remote WA, where an active player is newly listed Tali Resources.

The company holds a large, dominant tenure position highly prospective for copper. 

Exploration is being undertaken using a multi-faceted and systematic approach to explore for several different styles of mineralisation and these activities are led by an experienced leadership team with a strong track record of discovery success.

There are indications of a range of intrusive-related deposit styles as well as potential IOCG and sediment-hosted copper mineralisation.

While exploration is at an early stage, the company is moving toward initial drilling and shares moved 27.46% higher to a top of 65c before closing at 58c.

Assisting in targeting work, Tali, which listed on July 21, is encouraged by geological modelling of available gravity, magnetic and airborne electromagnetic (AEM) datasets which confirms that the Chilka, Lonar, Maton B and Maton C prospects are priorities for drill testing.

This work by geophysical consultants, Resource Potentials, has also led to the identification of Gibson East prospect for the initial drilling program.

Heritage clearances and drilling approvals are in place for the reverse circulation drilling of the strong anomalies which is scheduled to start in August.

“Further geophysical modelling has highlighted Chilka, Lonar, Maton B, Maton C and Gibson East as hosting significant anomalies that justify immediate drill testing,” Tali’s managing director Rhys Bradley said.

“This work has assisted with drill hole planning aimed at testing a combination of geophysical highs and lows within the prospect areas. 

“We have also added a new prospect, Gibson East, to the program for drill testing.

“Chilka, Lonar and Gibson East all host large-scale, coincident to semi-coincident magnetic and gravity anomalies which are prospective for a range of intrusive-related deposit styles. 

“These prospects are all located in close proximity to Pokali, a mineralised copper system with an IOCG affinity.

“The Maton prospect area contains three large-scale, late-time airborne electromagnetic anomalies. It is an area of no outcrop but is interpreted to be set within the Amadeus Basin and is considered prospective for sediment-hosted copper mineralisation.

“Site preparation activities are underway ahead of drilling which is planned to commence in August.”

St George Mining (ASX:SGQ)

As it looks to take advantage of the West’s increasing desire to seek non-Chinese sources of critical minerals and armed with $5 million from a placement, St George Mining is upscaling drilling at the Araxa rare earths and niobium project in Brazil.

This will see the company deploy three diamond rigs in a 9000m campaign with the aim of growing the globally significant rare earths and niobium resources. 

The Araxa rare earths resource sits at 40.6Mt grading 4.13% total rare earth oxides while the niobium resource totals 41.2Mt at 0.68% niobium.

SGQ was pleased with the response to the placement to strategic investors which will see more than 131m shares issued at 3.8c per share, a 13% premium to the 30-day VWAP. 

It follows strong spontaneous interest from European-based investors drawn to the growing potential of the company and its Brazilian property. 

Shares increased 10.3% to a daily high of 4.3c with more than 81m changing hands.

Araxá is a major hard rock rare earths resource, capable of offering an alternative supply chain to China’s market dominance. 

The strong focus of St George on Araxa coincides with a surge in US demand for new rare earth supplies outside China, highlighted by major investments from the Department of Defense and Apple in US producer MP Materials.

The US is also reported to be considering a trade agreement with Brazil focused on access to critical and strategic minerals

St George is assessing opportunities to establish downstream partnerships in the US for rare earths processing and magnet production. 

Zenith Minerals (ASX:ZNC)

A significant quarter which saw Zenith Minerals achieve key milestones across its gold projects resulted in shares improving 20% to 3.6c.

“The company remains firmly committed to its gold strategy, demonstrated through strategic initiatives including a A$3.5m entitlement offer, divestment of the non-core Kavaklitepe project and the strategic acquisition and drilling at Dulcie Far North and Red Mountain,” managing director Andrew Smith said. 

“A highlight was the acquisition of exclusive subsurface rights extending approximately 3km south of the Dulcie Far North project. This acquisition considerably expands the scale and resource growth potential of Zenith’s consolidated Dulcie Gold Project.

“The company also completed a 37-hole RC drilling campaign at Dulcie Far North, resulting in an updated inferred resource of 8.2 Mt at 1.15 g/t Au for 302,000oz, representing a 41% increase and further underpinning Zenith’s growing gold portfolio. 

“At Red Mountain, the company advanced key exploration targets, with a planned ~3,000m diamond drilling campaign supported by a maximum grant of $275,000 from the Queensland Government's Collaborative Exploration Initiative, targeting significant gold with associated copper-molybdenum.”

Cyclone Metals (ASX:CLE)

Cyclone Metals is making strong progress as it moves to develop its flagship Iron Bear project, a world-class large-scale iron ore asset in Canada’s Labrador Trough, and shares hit a three-year high of 8.1c, a lift of 14.1% 

During the June quarter the company received a power study completed by global engineering consultancy firm Hatch which identified and quantified technical solutions for the supply of 100% renewable energy for the Iron Bear mining and concentrator complex and the adjacent city of Schefferville, including hydropower and wind power.

Further metallurgical testwork was completed with positive outcomes and the first stage of terrestrial and hydrology field surveys was successfully completed.

Key upcoming milestones are the release of a scoping study and a de-risking rail study.

“We are confident that the Iron Bear Project will deliver substantial benefits for all the key stakeholders, including our shareholders and local communities, as we work closely with our partner Vale, to develop a sustainable mining operation powered by cutting edge technologies and renewable energy,” CEO and executive director Paul Berend said.

Macarthur Minerals (ASX:MIO)

Iron ore focused Macarthur Minerals has extended the closing date for its pro-rata non-renounceable entitlement offer to raise up to A$2m until Thursday, July 31, 2025, and shares reached 1.9c, an increase of 26.67% on the previous close, before ending the day at 1.6c.

Eligible shareholders will be entitled to subscribe for one new share for every two existing shares held at an issue price 2c per share. 

For every two new shares subscribed, shareholders will receive one free attaching option, exercisable at 3c and expiring two years from the date of issue.

The offer is underwritten by Gold Valley Yilgarn to A$2m. The underwriter has agreed to subscribe for up to 100m new shares and attaching options and is solely responsible for subscribing for any shortfall shares and options that may arise under the offer.

Proceeds will be used to support the company’s corporate operations and the ongoing evaluation of strategic options for its Lake Giles iron project. 

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While St George Mining, Cyclone Metals and Zenith Minerals are Stockhead advertisers, they did not sponsor this article.