Resources Top 5: High-grade gold sends Tambourah soaring more than 250pc

• Phase 2 drilling brings high-grade results for TMB at Beatty Park South
• NVA secures US$43.4m from the US Department of War under the Defense Production Act
• Testwork breakthrough for POD at Parks Reef PGM-gold project

Your standout small cap resources stocks for Wednesday, October 1, 2025.

Tambourah Metals (ASX:TMB)

Impressive gold results of up to 24m at 18.8g/t from just 20m, including 4m at 92.2g/t, have confirmed the Beatty Park South project of Tambourah Metals as an emerging gold system.

Investors jumped on the results with shares soaring almost 254% to 14.5c, a high of nearly two years, on volume of more than 119m valued at $11.9m.

These results at the project 160km north of Meekatharra in WA build on Tambourah Metals (ASX:TMB) maiden hit of 6m at 25.8g/t from 30m and confirm that Beatty Park South has plenty of room to grow.

Follow-up drilling in the phase 2 program of eight slimline RC drill holes for 785m completed to an average depth of 98m targeted extensions immediately along strike and east of the previous 6m result in first phase aircore drilling.

The drill holes were planned as step-out holes on the eastern end of the drill traverses and targeting the basement to a depth of 100m.

Apart from hole BPAC028 that returned the 24m hit, other second phase results include:

• 3m at 3.7g/t Au from 44m in BPAC029, including 1m at 6.4g/t from 44m; and
• 3m at 6.6g/t Au from 60m in BPAC030, including 1m at 15.2g/t from 61m.

All drill holes terminated in fresh rock and the observed alteration is believed to reflect an underlying gold-bearing structure.

The high-grade gold interval in BPAC028 occurs within the saprolite zone and the transition to the zone of part oxidation. 

Pyrite is not present within this interval but it is interpreted that the primary structure is at a deeper level nearby. 

There is potential for further growth as Beatty Park gold target remains open along strike and at depth, with only 25% of the 500m-long soil anomaly tested to date. 

Further drilling is planned of oxide and fresh rock targets at Beatty Park South.

Tambourah’s drilling at Beatty Park has outlined a shallow, high-grade lens of mineralisation that has eclipsed the grades anticipated from historic drilling. 

This lens remains open along strike to the south and may be linked to an underlying, steeply-dipping feeder structure.

Nova Minerals (ASX:NVA)

In a major boost to plans to provide antimony from Estelle project in Alaska to a US supply chain, Nova Minerals (ASX:NVA) has secured US$43.4m in funding from the US Department of War under the Defense Production Act. 

The funds for NVA’s US subsidiary Alaska Range Resources (ARR) will bankroll the first stage of a domestic supply chain to extract and refine antimony from Estelle to produce the military-grade material needed for munitions and other defence gear.

This saw NVA reach a two-year high and an increase of 46.6% on the previous close with more than 10m shares changing hands.

The two-year agreement will allow the fast-tracked development of a fully integrated US antimony supply chain for the refining of military-grade antimony trisulphide.

This material is essential for munitions and other defence applications and the US has identified antimony as a critical mineral due to its reliance on overseas supply chains. 

“We are proud to have our subsidiary ARR partner with the US Department of War to help secure a fully domestic, redundant supply chain for the munitions and other defence products US troops need to keep the nation and allies safe, as well as future supply to the US industrial base for a wide range of traditional and high-tech applications, including semiconductors and energy systems,” NVA CEO Christopher Gerteisen said. 

“This award will fund the initial phase of Nova’s strategy to establish a full spectrum state of the art antimony mining and refining hub based in Alaska to supply refined antimony products to the US industrial base and beyond.”

He said the Nova team was now looking forward to working with a range of stakeholders to bring Estelle into production.

“Antimony metal and antimony trisulfide have critical applications in munitions, especially low and medium calibre, where it is used in primer production and case hardening,” said US Assistant Secretary of War for Industrial Base Policy Mike Cadenazzi. 

“The award to ARR advances North American sourcing of this critical mineral for the defence industrial base.”

Podium Minerals (ASX:POD)

After delivering what it calls a “game-changing” testwork breakthrough at the Parks Reef PGM-gold project in WA, Podium Minerals (ASX:POD) lifted 28.1% to a two-year high of 12c.

The company has unveiled a new concentrator flowsheet that recovered about 80% of platinum, palladium and gold in lab tests on bulk sulphide feed. 

This process produced two high-grade PGM concentrates with a 50-fold upgrade from bulk sulphide feed and ultra-low chrome, making them potentially attractive to existing PGM refiners.

The concentrator incorporates proven and de-risked processes commonly employed by leading global PGM and precious metals producers, and creates a strong platform upon which to advance Parks Reef development.

“The unveiling of our ground-breaking Concentrator is more than a technical achievement; it represents a bold leap forward in our mission to unlock the substantial underlying value of Parks Reef,” executive chairman Rod Baxter said.

“Achieving high recoveries across platinum, palladium and gold, supported by robust copper recoveries of 52%, highlights the world-class quality of our Parks Reef resource and the expertise of our global team of PGM specialists.”

Diablo Resources (ASX:DBO)

Diablo Resources (ASX:DBO) has raised $2m to acquire and advance the Star Range silver-antimony project in the mining-friendly jurisdiction of Utah, significantly strengthening its  US critical minerals strategy.

Star Range spans around 2100 acres across two prospects – North Star and South Star.

Historical rock sampling delivered bonanza silver grades up to 8760g/t silver and antimony values exceeded 1% at surface. 

Soil sampling has also outlined large, undrilled silver anomalies over 1.5km at North Star and 400m at South Star highlighting exploration upside. 

Much of the historical work was not analysed for antimony … leaving untapped potential in this federally designated strategic mineral.

And the timing is compelling as silver has been recommended for inclusion on the US Department of Interior’s 2025 Critical Minerals List, alongside antimony and copper.

Diablo, which hit a two-year high of 6.4c, will immediately mobilise its Utah-based team for expanded sampling and mapping at Star Range while progressing drilling plans at its nearby Phoenix copper project.

Litchfield Minerals (ASX:LMS)

A mechanical failure of the contracted drilling rig was overcome in quick time by Litchfield Minerals (ASX:LMS) ) with an alternative rig secured for drilling at Oonagalabi project in the NT.

By leveraging its strong industry relationships, the company secured the rig at very short notice and it is expected in Alice Springs on Friday, October 3, enabling drilling to begin at the weekend. 

In addition, to recover the few days of lost time, Litchfield has worked with its contractor to mobilise the originally scheduled RC rig to site within the next seven days, resulting in two rigs operating in parallel. 

This approach is expected to more than make up the schedule, importantly, in a cost-effective manner.

Up to 14 RC holes for around 3750m is planned across priority geophysical and geochemical targets.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Nova Minerals is a Stockhead advertiser, it did not sponsor this article.