Three ASX Materials Stocks Touch 52-Week High Despite Market Dip

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Highlights

• Tambourah Metals hits high-grade gold at Beatty Park South, including 24m at 18.8 g/t Au and 4m at 92.2 g/t Au.
• Diablo Resources raises AUD 2M to explore the Star Range Silver-Antimony Project in Utah, with silver up to 8,760 g/t.
• Nova Minerals secures USD 43.4M DoW funding for military-grade antimony production at its Estelle Project in Alaska.

Despite the S&P/ASX 200 falling 0.42% to 8,811.50 at the time of writing on 1 October 2025, three material stocks hit 52-week highs: Tambourah Metals, Diablo Resources and Nova Minerals.

Data Source: ASX

Tambourah Metals Ltd (ASX:TMB) – Beatty Park South Drilling Update

Tambourah Metals (ASX:TMB) has released results from the second phase of drilling at its fully owned Beatty Park South project, situated 160 km north of Meekatharra, Western Australia. The program involved eight slimline RC holes totaling 785m, reaching an average depth of ~98m, targeting extensions along strike and east of a previously reported high-grade intercept (6m at 25.8 g/t Au from 30m in BPAC016). Key intercepts include

• BPAC028: 24m at 18.8 g/t Au from 20m, including 4m at 92.2 g/t Au from 24m and 4m at 14.3 g/t Au from 28m.
• BPAC030: 3m at 6.6 g/t Au from 60m, including 1m at 15.2 g/t Au; plus, 2m at 2.8 g/t Au from 67m.
• BPAC029: 3m at 3.7 g/t Au from 44m, including 1m at 6.4 g/t Au; and 3m at 1.8 g/t Au from 49m.
• BPAC027: 4m at 1.6 g/t Au from 4m.

The drilling intersected chlorite schists with silica alteration and dispersed pyrite. High-grade mineralisation in BPAC028 occurs in saprolite and partly oxidised zones, while pyrite-rich intervals with gold in BPAC029 and BPAC030 suggest a steeply dipping host structure. Only 25% of the 500m soil anomaly has been tested, leaving the system open along strike and at depth.

The company will re-assay mineralised composites at 1m intervals, complete a ~3,000m first-pass aircore program to delineate the system, evaluate geophysical methods like IP for pyrite-targeting, plan ~2,000m of RC drilling of bedrock targets, and progress statutory approvals for the RC program.

Diablo Resources Ltd (ASX:DBO) – AUD 2M Capital Raising & Star Range Acquisition

Diablo Resources (ASX:DBO) completed an AUD 2.0M capital raising to fund the acquisition and exploration of the high-grade Star Range Silver-Antimony Project in southwestern Utah, USA, enhancing its U.S. critical minerals portfolio.

Project Details

• Acquisition: 100% ownership of ~2,100 acres (104 claims) near Milford, Utah.
• Historical Sampling:
  • South Star: Up to 8,760 g/t Ag and >1% Sb; other samples 1,190–1,110 g/t Ag.
  • North Star: Up to 3,900 g/t Ag and 0.6% Sb; additional samples 1,380–2,920 g/t Ag.
• Soil Anomalies:5 km silver anomaly at North Star and 400 m at South Star; no drilling conducted.
• Geology: Mineralisation occurs as manto-replacement and breccia vein systems in a historically productive district near Horn Silver and Milford Copper Mines.

Diablo will begin systematic sampling and structural mapping at Star Range, review assay results from the Phoenix Copper Project, secure a drilling rig for the Fair Dinkum copper prospect, and continue evaluating U.S. critical mineral opportunities.

Nova Minerals Ltd (ASX:NVA) – USD 43.4M DoW Funding for Antimony Production

Nova Minerals’ (ASX:NVA) U.S. subsidiary, Alaska Range Resources LLC (ARR), has received USD 43.4 million (AUD 65.5 million) under the U.S. Department of War’s Defense Production Act Title III. The funding will support production of military-grade antimony trisulfide at the Estelle Gold and Critical Minerals Project in Alaska.

The Estelle Project spans 514 km² and includes multiple gold and antimony prospects along a 35 km mineralized corridor. It hosts massive stibnite veins and two multi-million-ounce gold resources. ARR will extract, concentrate, and refine stibnite to supply the U.S. defense sector and broader industrial applications, including semiconductors and energy technologies.