Mining news roundup for Aug. 25, 2026: Publicly traded resource companies reported new lithium drilling, a copper-gold project study and financing, a uranium project agreement in Niger, a Zimbabwe platinum lease and further gold-system expansion in British Columbia. The items below are based on company announcements and reputable industry coverage published on Aug. 24–25.
Key mining news
Lithium: Q2 Metals reports wide Cisco intercepts
Q2 Metals Corp. (TSXV: QTWO; OTCQB: QUEXF; FSE: 458) reported the first assays from its 2026 summer drill program at the Cisco Lithium Project in Quebec’s James Bay region. Hole CS26-093 returned separate intervals of 60.8 metres grading 1.24% Li2O, 213.8 metres grading 1.93% Li2O and 403.7 metres grading 1.57% Li2O. The company said the three zones span about 678 metres of the 803-metre hole. Q2 said 9,552 metres across 22 holes had been completed in the summer program, with four rigs operating at the main deposit. Reported intervals are core widths and are not representative of true widths. Read Q2 Metals’ announcement.
Copper-gold: FireFly publishes Green Bay PEA and raises capital
FireFly Metals Ltd. (ASX: FFM; TSX: FFM) released a preliminary economic assessment/scoping study for its 100%-owned Green Bay Copper-Gold Project in Newfoundland and Labrador. For the 1.8-million-tonne-per-year base case, the company reported an approximately 32.3-year mine life, an after-tax NPV of about A$2.2 billion at a 7% discount rate, a 41% after-tax IRR and initial capital of A$513 million net of estimated refundable tax credits. FireFly also announced an A$180 million equity raising at A$1.78 per share and a non-underwritten share purchase plan targeting up to an additional A$10 million. The study is preliminary, includes Inferred Mineral Resources and is not sufficient to support Ore Reserve estimates; the company cautioned that funding, permitting, construction and production targets remain uncertain. Read FireFly’s release.
Uranium: Atomic Eagle reestablishes interest in Madaouela
Atomic Eagle Ltd. (ASX: AEU; OTCQX: AEUXF) agreed terms with the Republic of Niger for a mining convention intended to reestablish a 60% interest and operational control in the Madaouela Uranium Project near Arlit. The reported structure gives the Nigerien state a 40% interest, including a 15% free-carried stake and a 25% contributing interest, according to industry coverage of the company’s announcement. Atomic Eagle reported a historical foreign mineral resource estimate of 116.5 million pounds of U3O8 at 1,282 parts per million, including 96.9 million pounds in Measured and Indicated categories and 19.6 million pounds Inferred. The estimate is not JORC-compliant; Atomic Eagle said it intends to verify the database and target a JORC 2012-compliant estimate toward the end of 2026. Read the Mining.com.au report.
Platinum-group metals: Tharisa secures Karo lease in Zimbabwe
Tharisa plc (LSE: THS; JSE: THA) said its Karo Platinum subsidiary signed a Special Mining Lease Agreement with the Government of Zimbabwe. The lease covers 23,903 hectares for an initial 25-year term and provides the tenure and fiscal framework needed to advance the Karo Platinum Project toward first production of PGM concentrate. Karo Platinum is 85% owned by Karo Mining Holdings, with the Zimbabwean government holding 15% through Generation Minerals on an unencumbered free-carry basis. The company says its first-phase design is intended to produce 226,000 ounces of PGMs per year, but the announcement did not provide a specific first-production date. Read the Karo lease announcement.
Gold: Goliath expands Golden Gate and Bonanza footprints
Goliath Resources Ltd. (TSXV: GOT; OTCQX: GOTRF; FSE: B4IF) reported further expansion of the Golden Gate and Bonanza zones at the 100%-owned Golddigger Property in British Columbia’s Golden Triangle. The company said the Golden Gate mineralized footprint grew to 1.17 square kilometres from 0.85 square kilometres, a stated 38% increase, while the Bonanza footprint reached 1.51 square kilometres from 1.27 square kilometres, a stated 19% increase. Goliath said 59 of 98 planned holes, totaling 34,990 metres, had been completed in 2026. Assays for the newly expanded portions were pending; the company estimates reported drill lengths represent about 80%–90% of true widths. Read Goliath’s release.
What to watch
Near-term attention is likely to center on pending assays at Cisco and Golddigger, FireFly’s transition from a preliminary study to feasibility and financing work, Atomic Eagle’s execution of the Madaouela framework and resource-verification plans, and the permitting, funding and construction milestones behind Karo. Exploration intercepts, historical or foreign resource estimates and preliminary economic studies do not by themselves establish economic reserves or guarantee a mine will be built.
Closing note: Resource-sector projects can be affected by commodity prices, capital availability, technical results, permitting, community relationships, operating conditions and geopolitical developments. Readers should review the linked announcements and issuer filings for full context.
This article is for informational purposes only and is not financial advice.
