Several mining companies have seen the highs and lows of the Australian Securities Exchange (ASX) to start the week, including Leeuwin Metals (ASX:LM1), which more than doubled its market value today (4 August).
The company has seen a 61.62% increase to its trading price, now sitting at $0.16 per share.
It comes after Leeuwin last week returned drilling results from the Marda Gold Project in Western Australia, which the company believes demonstrates the project’s “immense growth potential”.
Assays returned 5m @ 5 grams per tonne gold from 229m to the end of the hole including 1m @ 10g/t gold from 231m, extending the known mineralisation beyond the open pit with continuity below the pit.
Along with these results, the company has marked 11 new target areas from a recent fieldwork program, while still awaiting more than 120 assays from rock chip samples.
Leeuwin intends to follow this news with a reverse circulation drilling program this month, as well as structural mapping, 3D geological mapping, resource evaluation, and a regional target assessment across the project.
Tambourah Metals (ASX:TMB) is not far behind, boosting its share price by 57.69% to $0.041 following its update to the market relating to aircore drill results from the Beatty Park South Project in Western Australia.
Tambourah returned up to 126g/t of gold, extending the program over the soil geochemical anomaly and adjacent areas for a reverse circulation program.
Results include 6m @ 25.8g/t gold from 30m at drillhole BPAC016 with 1m @ 126g/t gold from 30m and 4m @ 15.95g/t gold from 16m at drillhole BPAC008.
The company intends to test potential structural targets with upcoming drilling, further defining the extent of mineralisation across the project.
Similarly with drilling results out, Waratah Minerals (ASX:WTM) has boosted its value by 42.37%, now trading at $0.42 per share.
The company has extended gold mineralisation in both the Essex Zone and Thistle Zone of the Spur Gold Corridor, results returning 27m @ 1.03g/t gold from 163m, 28m @ 0.88g/t gold from 160m, and 21m @ 0.73g/t gold from 133m.
The Consols prospect also returned favourable results, with intercepts including 208.7m @ 1.17g/t gold from 514m at drillhole SPRCD062, including 89m @ 1.96g/t gold from 614m and 38m @ 3.61g/t gold from 665m.
Waratah intends to follow up these results with an upcoming extensional reverse circulation and diamond drilling program to define epithermal gold and test for porphyry mineralisation.
On the decline, ENRG Elements (ASX:EEL) is down 33.33% to a trading price of $0.001 per share.
ENRG has no substantial news to reflect the difference, other than its appointment of Shaun Menezes as the company’s secretary and CFO as of today.
Menezes has accumulated more than 20 years of experience within the accounting and finance industry, holding roles with a number of ASX and Singapore Exchange (SGX) listed companies.
This appointment takes place as joint secretaries Daniel Smith and John Kay resign.
ENRG Elements is a uranium explorer focused on developing its Agadez Project in the Tim Mersoi Basin of Niger, as well as a range of copper projects in Botswana.
Dragon Mountain Gold (ASX:DMG) has also seen a decline of 23.08% to $0.01, after responding to a price query from the ASX.
The company, which has a market capitalisation of $5.13 million, announced to the market that it had paid off its outstanding loan from October 2024.
A major shareholder contributed funds to pay off this loan via a new loan, as announced on 21 July.
Dragon Mountain Gold is focused on developing its Cawse and Avalon projects in Western Australia to deliver gold and battery metals.
On the tail of no news, Reach Resources (ASX:RR1) has dropped 18.81% to a share price of $0.009.
The company recently turned over its quarterly report for the June quarter, which offered a combined resource estimate of around 67,100 ounces of gold for the Blue Heaven and Pansy Pit prospects of the Murchison South Gold Project in Western Australia.
With a current market capitalisation of $9.61 million, Reach Resources held $3.27 million in cash at 30 June 2025.
Based in Western Australia, the company is a gold explorer focusing on bringing its Murchison South Project to production.
Write to Maddison Elliott at Mining.com.au
Images: Leeuwin Metals
