- Ex-NWC team reemerges at helm of refreshed Peel Mining
- Former NWC MD guides THB to new gold deposit
- YRL confirms Arrakis gold discovery with up to 54m at 1.2g/t gold.
Your standout small cap resources stocks for Monday, September 22, 2025
Peel Mining (ASX:PEX)
Peel Mining shareholders may have been left in the dark after the departure of MD Jim Simpson in August, just days after he updated the market on the Cobar copper explorer’s plans at the Diggers and Dealers Mining Forum in Kalgoorlie.
But it’s been worth the wait, with the team that led New World Resources into a $243 million takeover just months ago reemerging at the helm of a refreshed Peel Mining (ASX:PEX).
Nick Woolrych, the MD who engineered a bidding war and eventual sale to private equity mob Kinterra Capital at New World and its high-grade Antler copper mine in the United States, is back to repeat the dose.
And he’s brought sidekick Warwick Amos along as Peel CFO, with investment banker Ronnie Beevor to become non-exec chair and longtime Peel supremo Rob Tyson to step off the board but remain on hand to assist the new management team on exploration and growth initiatives. Chair Mark Okeby and Ryan Woodhouse are also stepping off the board.
Investors like backing a winner, and memories of the NWC success are fresh. Shares were around 42% higher in today’s trade.
Woolrych is no stranger to the Aussie mining game, having previously been CEO of major contractor Pybar and Diversified Minerals, the previous owner of the now Aurelia (ASX:AMI) held Dargues gold mine and Kaiser Reef’s (ASX:KAU) Henty gold mine.
A former Rothschild head of investment banking, Beevor is a non-exec director at Champion Iron (ASX:CIA) and Mont Royal Resources (ASX:MRZ) and chair of Felix Gold (ASX:FXG) – a runaway success story this year off the back of an Alaskan antimony discovery.
And as CFO at New World, Amos was a key cog in the negotiations that led to Kinterra’s takeover at well over double the company’s pre-bid price.
Peel’s already got 500,000t of copper equivalent metal at five deposits across 2764km2 south of the hot Cobar Basin in New South Wales, with development studies already underway and no shortage of milling infrastructure in the region – 6Mt of it across five facilities.
But BD will be a focus as well – Peel is setting its sights on base and precious metals opportunities in the Cobar region, but also looking at other tier-1 jurisdictions in Australia and North America, which recently proved a happy hunting ground for the explorer’s refreshed board.
“Peel has assembled a first-class technical team and holds one of the most strategic packages of base metals assets in the Cobar Basin,” Woolrych told his new shareholders.
“With the support of the renewed Board, Warwick and I are excited to work with the established technical team to ensure Peel’s projects deliver their full potential and to focus on all opportunities to generate significant shareholder value.”
PEX finished FY25 with $1.4m in the bank and a PFS on the go, based around a central 1.1Mtpa processing facility at the Mallee Bill deposit.
Thunderbird Resources (ASX:THB)
And it’s a one-two punch today for ex-NWC bosses.
Woolrych’s predecessor Mike Haynes, who spent seven years growing the high-grade Antler deposit in Arizona, entered NSW gold minnow Thunderbird Resources (ASX:THB) as exec chair on September 9.
Already a substantial shareholder of the junior, Haynes has now made his first big move.
Backed by a $2.2m CPS Capital-led placement at 1.4c per share, Haynes has locked up the Springfield gold deposit in central NSW.
It complements the Kookabookra and Rockvale gold-antimony projects, which are in close proximity to 2024 market darling Larvotto Resources’ (ASX:LRV) Hillgrove gold and antimony project in the state’s north.
Springfield has copped around 6500m of drilling but hasn’t been touched since 1999 and the average depth of the holes is only 35m.
Bullion was fetching a few hundred bucks an ounce back then. Now at $5600/oz, it’s no wonder someone wants to scratch beneath the surface, with only 500m of a more than 1700m mineralised intrusion tested by ye’ olde timers.
27m at 3.65g/t from surface, 65m at 1.16g/t from 2m and 41m at 1.47g/t from 22m may not have sung when Baby One More Time was topping the charts. But it does in the post-modern age of Addison Rae, economic turmoil and $5600/oz gold prices, events which are, surely, cosmically linked.
The two deepest holes at Springfield have encountered thick, continuous zones of mineralisation, including an 86m lick at 1.04g/t from 104m.
There are plenty of other prospects within the site where gold has been found, with maiden drilling to follow shortly after the acquisition of holding company LM2 Pty Ltd, for $200,000 cash plus around $400,000 in shares and milestone share payments linked to future resource definition.
Alongside Springfield and the broader Slashers Flat project, the LM2 deal will deliver a host of other gold and antimony projects with historic high grade occurrences, including the Grenfell project which reportedly produced more than 320,000oz of gold.
Yandal Resources (ASX:YRL)
The Arrakis gold discovery within the Ironstone Well-Barwidgee gold project in WA has been confirmed by Yandal Resources (ASX:YRL) with RC drilling returning 54m at 1.2g/t gold.
The 54m intersection from 108m to the end of hole included 24m at 2.1g/t Au from 138m which in turn included 8m at 4.7g/t from 154m.
Another hole returned 6m at 1.1g/t Au from 180m to the end of hole.
These are the first results from the recently completed 1,374m Arrakis RC drilling program which saw seven holes completed below aircore intercepts that define the 2.2km-long mineralised Arrakis structure hosted within the Caladan target area.
Results combined with geological observations confirm primary mineralisation within fresh rock with an apparent sub-vertical geometry.
YRL expects results from a further five RC holes broadly testing the Arrakis trend over 2.2km of strike over the coming weeks.
Peregrine Gold (ASX:PGD)
Phase 2 aircore drilling is underway at Peregrine Gold’s Newman gold and iron ore project in northwest WA to follow up on gold zones from previous drilling and test promising anomalies.
After assays from a 7367m aircore campaign completed in June 2025 revealed multiple shallow, south-dipping gold zones that plunge southeast, Peregrine Gold (ASX:PGD) has expanded the gold footprint at Tin Can prospect to around 850m long and up to 240m wide.
Past drilling has shown the rocks are heavily weathered or altered, creating zones that could either be enriched or depleted in gold and mineralisation often lines up with magnetic imagery patterns.
Once the 2500m Tin Can aircore drilling wraps up the rig will move to the Epithermal prospect for another 1000m.
The goal is to follow up gold anomalies spotted in a 1091m aircore campaign, which also highlighted an expanding area of anomalous gold as well as a large-scale zone of anomalous gold-in-soils at Epithermal East.
Podium Minerals (ASX:POD)
(Up on no news)
While there has been no recent news, PGM-focused Podium Minerals (ASX:POD) lifted 40.5% to 5.9c.
In the June quarter, POD released a new resource estimate for the additional copper-gold zone at Parks Reef project near Cue in WA comprising 60Mt containing 300,000oz gold, 140,000t copper, 60,000t nickel and 11,000t cobalt.
It substantially increases the project’s scale, adds development flexibility and increases the overall value of Podium’s basket of payable metals.
This zone is directly above the PGM zone with the new resource in addition to the MRE for the existing zone of 183Mt for 7.6Moz at 1.30g/t 5E PGM, with 103,000t copper, 143,000t nickel and 27,000t cobalt.
Ongoing metallurgical testwork is pursuing improvements in PGM recovery through Podium’s concentrator circuit, aiming to increase the grade of the concentrate product feed to the proposed downstream metallurgical flowsheet.
This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Peregrine Gold is a Stockhead advertiser, it did not sponsor this article.
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