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RareX (ASX: REE) was up on news a maiden RC drilling program is underway at the Khaleesi Alkaline Intrusive Complex (KAIC) in Western Australia.
The approximately 3,500m program marks the first drill test of RareX’s geological interpretation of the district scale Khaleesi complex, which is considered prospective for gallium, rare earth elements and niobium.
“Getting the rig turning at Khaleesi is another important step in advancing our broader exploration strategy,” MD and CEO, James Durrant, said.
“We’re now testing five targets across a project we believe has genuine scale potential for gallium and niobium-REE, built on a strong technical foundation of geophysics, geological reinterpretation and historical exploration data.”
REE was up 16.7% to 1.4c.
Azzuro Resources (ASX: AZ9) was popular on positive final assay results from its 2026 drilling program at the Red Hill copper-gold Volcanogenic Massive Sulphide (VMS) project in Mongolia.
A new, additional zone of high-grade copper mineralisation was intersected north of the shallow gold mineralisation corridor.
Shallow gold mineralisation is confirmed approximately, infilling the broad 600m gold mineralisation corridor in the northern part of Red Hill, which remains open along strike.
“We have completed this final batch of assays on a high note. Not only have we confirmed mineralisation in the copper-rich massive sulphide and shallow gold zones, we have also identified additional mineralised areas for copper exploration to the north of previously identified mineralisation and a new area with gold,” MD, Gan-Ochir Zunduisuren, said.
AZ9 was up 11.5% to 1.5¢.
Black Horse Mining (AX: BHL) has delivered an immediate exploration result, opening access to a historical exploration crosscut that had been closed off for over a century.
This access has provided invaluable 3D geological information within the mineralised zone at Mount Egerton.
“This latest work has allowed us to unveil some of the secrets Mt Egerton has been hiding for over a century,” MD, David Frances, said.
“It has delivered high-grade gold from a structure that was intersected and ignored during historical mining, and it confirms our interpretation that Mt Egerton hosts west-dipping fault lodes alongside the bedding- parallel style — effectively broadening our target inventory across the whole project.
“Getting underground has given us the kind of direct structural measurement, and the ability to sample it, that simply cannot be obtained from inherited plans, and with the rig mobilising shortly we intend to put it to use quickly.”
BHL jumped 14.6% to 23.5¢.
Market news
Looking wider, the S&P/ASX 200 opened lower today, dropping 24.40 points or 0.27% to 9,051.60. The bottom performing stocks in this index are Pinnacle Investment Management Group and NextDC, down 9.96% and 4.78% respectively. The index has lost 1.23% for the last five days but sits 2.64% below its 52-week high.
Elsewhere, the current account balance fell to a deficit of $27.2 billion in the June quarter 2026, according to data released by the Australian Bureau of Statics (ABS).
“Trade in goods and services continued to drive the current account deficit, recording the second trade deficit in a row, led by record values of fuels and passenger vehicle imports,” Jonathon Khoo, ABS head of international statistics, said.
“Imports of goods and services rose 4.0 per cent, led by a 6.9 per cent rise in goods,” Mr Khoo said.
“Fuel prices continued to surge to record highs as the ongoing conflict in the Middle East tightened global supply and output,” Mr Khoo said. “This was the major contributor to the terms of trade falling 1.6 percent.”
That’s Tuesday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
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