Key Highlights

  • Raptor Metals shares were trading at $0.016 during the 13 November 2026 session, up 6.67%.
  • Indicative pXRF readings from rock chip samples include copper results of up to 44.6% at Prospect D.
  • The Home of Bullion deposit has an existing JORC resource of 3.1 million tonnes at 2.9% copper equivalent.

During the Trading session on 13 November 2026, Raptor Metals Ltd (ASX:RAP) shares were trading at $0.016, up 6.67%, while the S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT. Raptor is an exploration company working on its Arunta Project in the Northern Territory. Its latest update, dated 5 November 2026, reported indicative portable X-ray fluorescence results from reconnaissance sampling.

Home of Bullion readings

Reconnaissance rock chip samples at Home of Bullion returned indicative readings including 28.6% copper, 1.2% zinc and 0.4% lead in one sample, and 10.4% copper with 3,058 grams per tonne silver in another. The company said the mineralisation remains open along strike and at depth, with three untested induced polarisation anomalies.

Prospect D readings

At Prospect D, indicative copper readings came from reconnaissance rock chip sampling, including 44.6% copper and 0.2% nickel in one sample and 25.9% copper with 0.8% nickel in another. The company said the high-grade readings indicate potential for further discovery.

Existing resource and next steps

Home of Bullion hosts an existing March 2023 JORC Mineral Resource of 3.1 million tonnes at 2.9% copper equivalent. The new field observations and pXRF data will be integrated with historical drilling, geological and geophysical information to guide follow-up exploration.

Sector context

Copper exploration in northern Australia is drawing interest as explorers look for high-grade systems near existing resources. Portable XRF is a common field tool for rapid screening, and companies usually confirm high readings with laboratory assays before drawing conclusions about grade.

Risks investors are watching

The company states that portable XRF results are indicative field measurements and are not equivalent to laboratory assays. The readings come from rock chip samples, which are selective, so they may not represent the wider rock mass. Untested anomalies may not produce economic results, and future drilling will require funding.

What to watch ahead

Investors will look for laboratory assays on the reconnaissance samples, the planned follow-up exploration at Home of Bullion and Prospect D, and any testing of the untested induced polarisation anomalies.

Final Word

Raptor's latest update reports high indicative copper readings from field screening at two areas of its Arunta Project. Laboratory confirmation and follow-up work will show whether the readings translate into resource growth.