Exploration activity remained volatile over the past few years on the back of fluctuating commodity prices and inflationary pressures. Supply chain disruptions, largely driven by the pandemic, elevated commodity prices, with exploration activity peaking to over 12.5 million metres drilled in 2021-22.
As prices for some metals and minerals softened and inflationary pressures continued to mount, appetite for exploration dampened but has since been rebounding. Industry reports show revenue from mineral exploration in Australia at least has grown at a CAGR of 3.5% over the past five years, to reach an estimated $4.2 billion in 2025.
Amid this backdrop, resource companies began planning drilling, spinning rigs, and unveiling drill results throughout the week ending 21 November, including Renegade Exploration (ASX:RNX) which has identified its Myschka prospect in Canada, as a ‘compelling’ drill target.
Maiden drilling planning is now underway at the prospect, located within the Yukon Project, following rock chip sampling, mapping, and a heli-magnetic survey confirmed Myschka shares the same geochemical signatures as other reduced intrusion-related gold system deposits.
Some of the results include 1,525 grams per tonne silver, 0.826g/t gold, 0.22% antimony; and 1,975g/t silver, 0.063g/t gold, and 0.18% antimony.
Executive Chairman Robert Kirtlan says the pathway for the funding and development of Yukon is looking “robust”.
“The Tombstone Gold Belt is an exploration hotspot,” Kirtlan says.
“The Yukon is an investment destination and Canada is emerging as one of the most supportive jurisdictions in the world given its growing financial and regulatory support for explorers.”
Renegade, which has a market capitalisation of $10.35 million, believes there is potential to increase the resource base at the Yukon Project.
Mineralisation remains open at depth and along strike at the Andrew, Darcy, and Darin deposits.
From North West Queensland to its emerging US presence, Renegade Exploration is laying tracks for what could be its most transformational phase, as Mining.com.au reported last week (21 November).
The company is building momentum across two continents, creating a diversified portfolio that balances near-term discovery potential with strategic optionality.
Speaking to this news service, Kirtlan says there are numerous upcoming catalysts worth keeping an eye on.
Drilling in Nevada at Caisson and Broken Hills will seek to determine whether surface rock‐chip results translate into continuous mineralisation. High gold assays are promising but drilling will test depth, continuity, and economics.
Further work at Greater Mongoose and Mongoose Deeps is another catalyst. Kirtlan says if the deeper gravity/magnetic anomalies confirm major copper systems, Renegade may unlock what could be a large copper‐gold deposit – particularly if there are high grade cores.
Intersecting gold zones
Adelong Gold (ASX:ADG) has intersected multiple zones of shearing, quartz veining and sulphide-bearing mineralisation consistent with the gold-antimony system at the Lauriston Project in Victoria.
The first two diamond drillholes have been completed for 444.6m of drilling. The program forms part of the broader campaign comprising 3,000m of drilling across the Comet and Yankee-Trojan prospects.
Adelong, which has a market capitalisation of $28.24 million, says drilling will continue into early 2026 to systematically test the multi-kilometre strike potential.
Pending results, Adelong is prepared to expand the program beyond its initial scope, including step-outs and deeper testing along the Comet Fault Zone and adjacent anticline.
Field mapping and further surface geochemical sampling will also be conducted to refine targets along the broader multi-kilometre structural corridor.
Portland Creek drilling to Infini
Infini Resources (ASX:I88) is expanding the ongoing phase two diamond drilling beyond the originally planned 2,500m program at the Portland Creek Uranium Project in Canada.
The expanded program allows Infini to test structural, geochemical, and geophysical anomalies within a 6km corridor defined by uranium-in-soil anomalies, radiometric highs and airborne electromagnetic conductors.
Drilling has intersected visible uranium minerals and elevated uranium values across several targets separated by kilometres, providing Infini with evidence for a potential district-scale, structurally-controlled uranium system.
A total of 3,910m of drilling has been completed across multiple high-priority targets.
Phase two drilling will continue into early December 2025, with the first assays to be received in Q4 2025.
In parallel, the company continues to observe polymetallic signatures across several holes including zinc, copper, molybdenum, and titanium enrichment associated with hydrothermal alteration zones, highlighting the potential for large-scale polymetallic uranium systems at Portland Creek.
More metres in Mexico
Advance Metals (ASX:AVM) has also restarted diamond drilling at the Yoquivo Silver-Gold Project in Mexico, with a minimum of 3,000m of drilling planned.
The program, which will continue into 2026, will target lateral and depth extensions to the existing foreign estimate at the Pertenecia prospect which comprises 17.23 million ounces of silver-equivalent at 570 grams per tonne silver-equivalent.
Drilling will also test multiple regional targets, including newly discovered veining that previously returned surface rock chip samples up to 1,594 grams per tonne silver-equivalent.
Previously conducted drilling earlier this year intersected multiple zones of silver-gold mineralisation in the Pertenencia area.
In particular, intervals in multiple holes targeting the lower-central portion of the Pertenencia vein system confirmed the potential for future resource extensions.
The Yoquivo Project is a silver-gold asset located in the Ocampo district of Chihuahua, Mexico. The project covers 1,975 hectares across seven concessions.
Write to Aaliyah Rogan at Mining.com.au
Images: Renegade Exploration, Adelong Gold, & Infini Resources
