Key Highlights

  • AuKing (ASX:AKN) reported 67 metres at 1.68% TREO from surface at East Tundulu.
  • Olympio (ASX:OLY) reported silver of up to 1,509 g/t from historical mine dumps at Raven in Montana.
  • Gold Mountain (ASX:GMN) recorded four tungsten samples above 10,000 ppm W in Brazil.
  • All three companies stress that their results are early-stage and not yet a basis for resource estimates.

On 4 November 2026, three ASX-listed explorers released early-stage results linked to critical minerals. AuKing Mining Limited (ASX:AKN) reported rare earth drilling at its Tundulu Project, Olympio Metals Limited (ASX:OLY) reported grab sample results from its Raven Project in Montana, and Gold Mountain Limited (ASX:GMN) reported tungsten sampling at a historical mine in Brazil.

Rare Earths in Focus at Tundulu

AuKing's first RC drilling at East Tundulu returned 67 metres at 1.68% total rare earth oxides from surface, including 12 metres at 2.56% TREO. The company says the area had not been drill tested before and extends the known mineralised footprint beyond its primary target.

AuKing's results are from the first RC drilling at the East Tundulu target. The company says the mineralisation begins close to surface, which could allow lower-cost follow-up drilling to assess grade and extent.

Historical Mine Dumps at Raven

Olympio's reconnaissance samples from historical mine dumps returned silver of up to 1,509 g/t, along with copper, lead, zinc, indium, antimony and tungsten. The company is assessing whether the historical veins could connect to a deeper porphyry-related system, with a maiden drill program in view.

Olympio's sample suite includes several metals on the 2025 US Critical Minerals List, which the company links to the wider Raven story. It is also tying those results to the Liver Peak porphyry system about 2 kilometres away.

Tungsten Sampling in Brazil

Gold Mountain's rock-chip samples over the Malhada do Angico mine produced four readings above the laboratory's upper limit of 10,000 ppm tungsten. Over-limit assays are being completed to establish actual concentrations, and the company notes that grab samples are not representative of mineralisation.

The Gold Mountain results come from an 857.53 hectare application adjacent to existing tenements, and the company holds an exclusive right to acquire it. Over-limit assays will determine the actual tungsten concentrations in those samples.

Common Features Across the Three Updates

All three announcements rely on surface, grab or early drill data rather than resource-grade datasets. In each case, the companies describe the results as guidance for future targeting, and they do not provide resource estimates or production schedules.

Taken together, the three updates indicate early-stage exploration across rare earths, silver, antimony and indium, and tungsten. None reports a resource, production figure or cash flow, so the next data points will come from further assays and drilling.

Final Word

The three updates share a common theme of testing critical minerals across different geological settings, from carbonatite-hosted rare earths to historical silver workings and tungsten skarns. The results show mineral presence and early grade indications, but they do not establish the scale, continuity or Economics of any project. Subsequent assays and drilling will determine how these early readings develop. Readers following these companies should note that each update is a standalone disclosure with its own sampling basis and assay status, so the figures should not be compared directly without reference to those differences.