Australia’s minerals exploration sector continues working hard, with funding announcements, key appointments and divestments featuring over the past week in the sector.

Iltani delivers maiden Orient East resource and secures strategic funding

Iltani Resources Limited has reported a strong December 2025 quarter, highlighted by the delivery of a maiden JORC mineral resource estimate (MRE) at the Orient East Silver-Indium deposit and a major strategic investment to support project development.

The new Orient East MRE stands at 19.8 million tonnes at 98g/t silver equivalent, lifting the total Orient Mineral Resource (Orient West and East) to 62.5Mt at 81.5g/t AgEq. The expanded resource underpins the growing scale of the company’s flagship Orient Silver-Indium project in Queensland.

During the quarter, Iltani also secured an $8 million investment from the Queensland Investment Corporation Critical Minerals and Battery Technology Fund, comprising $6 million in non-dilutive royalty funding and a $2 million equity investment.

Managing director Donald Garner said the funding materially strengthened Iltani’s balance sheet and development pathway.

“This investment recognises the strategic importance of Orient and allows us to accelerate development while minimising dilution,” Garner said.

Iltani ended the quarter with $8.64 million in cash after divesting non-core Tasmanian assets, positioning the company well for the next phase of growth.

Magmatic appoints Feebrey as chief technical adviser

Magmatic Resources Ltd has appointed Dr Craig Feebrey as chief technical adviser, strengthening the company’s technical capability as it advances its copper-gold and gold exploration portfolio.

Feebrey is a highly experienced geologist and mining executive with more than 30 years of global exploration experience across Australia, the Asia-Pacific and the Americas. He most recently served as executive vice president and chief exploration officer at OceanaGold Corporation, where he led global exploration activities for a decade.

Notably, Feebrey previously held senior exploration roles with Gold Fields, including vice president exploration for Australasia, providing him with direct experience across the New South Wales copper-gold projects that now form part of Magmatic’s core asset base. He also brings extensive Western Australian Goldfields experience, relevant to the company’s Weebo Gold project.

Managing director David Richardson said Feebrey’s appointment would enhance Magmatic’s technical depth.

“Craig’s deep technical and firsthand knowledge of our NSW copper-gold projects and the WA Goldfields will significantly strengthen our ability to unlock value across the portfolio,” Richardson said.

Adelong completes Challenger sale

Adelong Gold Limited has completed the previously announced sale of its 49 per cent interest in Challenger Mines Pty Ltd to Great Divide Mining Limited, following shareholder approval and satisfaction of all regulatory and third-party conditions.

Under the transaction, Adelong transferred its 10 million CMPL shares to Great Divide and received 10 million fully paid Great Divide shares as consideration, issued on 2 February 2026 and subject to voluntary escrow arrangements. The parties also executed termination and settlement deeds, formally ending the CMPL joint venture.

Adelong retains a 1 per cent net smelter return royalty on future gold production from the Challenger Gold Project, capped at 125,000 ounces, preserving ongoing exposure to potential upside.

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