3 ASX Gold Stocks Slide Today: GBR, WTM and SNM Under the Spotlight

Sonal Goyal

23 October 2026 02:46 PM AEDT

3 ASX Gold Stocks Slide Today: GBR, WTM and SNM Under the Spotlight

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Key Highlights

Great Boulder Resources (ASX:GBR) was down 15.05% at A$0.079, Waratah Minerals (ASX:WTM) was down 9.27% at A$0.685 and Sentinel Metals (ASX:SNM) was down 14.04% at A$0.245 during the 23 October 2026 trading session.
The S&P/ASX 200 was down 0.37% at 8,760.50 at 1:16 pm AEDT on the same day.
The companies' most recent updates were dated 6 October 2026 (GBR), 20 October 2026 (WTM) and 13 October 2026 (SNM).

Three ASX-listed gold explorers recorded sharp falls during the 23 October 2026 trading session, while the S&P/ASX 200 (XJO) was at 8,760.50, down 0.37% (32.70 points) at 1:16 pm AEDT. Great Boulder Resources Ltd (ASX:GBR) was trading at A$0.079, down 15.05%, Waratah Minerals Ltd (ASX:WTM) was at A$0.685, down 9.27%, and Sentinel Metals Ltd (ASX:SNM) was at A$0.245, down 14.04%. Each company has recently reported drilling results from its gold project, in Western Australia, New South Wales and Montana respectively.

Great Boulder Resources Ltd (ASX:GBR)

Great Boulder Resources was trading at A$0.079, down 15.05%, during the 23 October 2026 trading session. The Perth-based company is focused on the Peak Hill Gold Project, located 120km north of Meekatharra in the Murchison region of Western Australia, and also holds the Side Well Gold Project.

In an ASX announcement dated 6 October 2026, the company reported further assays from its maiden 40,000m drilling program at Peak Hill. Results at the Enigma deposit included 9m at 4.17g/t gold from 6m in hole GERC054 and 4m at 8.48g/t gold from 64m in GERC006, while the Five Ways area returned 5m at 3.70g/t gold from 149m in GFRC013. The company said three rigs were on site and that Peak Hill has a pathway to production under an ore purchase agreement with its largest shareholder, Westgold Resources. It also referred to an end-of-year resource update.

Waratah Minerals Ltd (ASX:WTM)

Waratah Minerals was trading at A$0.685, down 9.27%, during the 23 October 2026 trading session. The Sydney-based gold explorer's focus is the Spur Project in New South Wales, which includes the Spur and Consols zones and the Goldenclad leases.

On 20 October 2026, Waratah released partial assay results from GCD001, its first drill hole at Goldenclad, about 1km along strike from its current drilling focus at the Consols Zone. The company reported 83m at 1.27g/t gold from 6m, including 42m at 2.23g/t gold from 12m. Waratah said the results cover only the upper 100m of the hole, which is drilling towards approximately 500m depth, and that a second hole, GCD002, has been collared with a planned depth of 900m. The company said Goldenclad adds a fourth mineralised position along a 6km corridor linking Spur, Consols and Ironclad.

Sentinel Metals Ltd (ASX:SNM)

Sentinel Metals was trading at A$0.245, down 14.04%, during the 23 October 2026 trading session. The company describes itself as a North American gold company with two 100%-owned projects: the Columbia Gold-Silver Project in Montana and the Big Springs Gold Project in Nevada.

On 13 October 2026, Sentinel reported additional results from its maiden drill program at Columbia. Hole DDCO26-011 returned 21.7m at 2.19g/t gold from 36m, including 9.0m at 4.31g/t gold, and DDCO26-010 returned 9.1m at 2.56g/t gold, including 2.0m at 9.44g/t gold, outside the current Mineral Resource pit shell. The company said results have been received for 11 of the 15 holes in the 2026 program, with assays pending for the final four. An updated Columbia Mineral Resource Estimate incorporating all 2026 drilling is targeted for November 2026. None of the three updates is dated 23 October 2026.

Related Sector Context

All three companies sit within ASX-listed gold exploration, a segment in which news flow is typically driven by drilling assays, resource estimates and project studies. The ASX 200 benchmark is a broad index of large listed companies, whereas these three are smaller explorers without producing operations referred to in the updates reviewed. The projects span different jurisdictions, with Great Boulder in the Murchison region of Western Australia, Waratah in New South Wales and Sentinel in Montana and Nevada in the United States. Share prices of explorers can move by double-digit percentages in a single session, and on 23 October 2026 the three stocks fell by between 9.27% and 15.05% against a 0.37% decline for the S&P/ASX 200 at 1:16 pm AEDT.

Risks to Weigh In

Each company is at the exploration stage on the projects discussed, and drilling intercepts do not by themselves define a mineral resource.
Great Boulder said Mt Pleasant and Golden Treasure do not currently have a mineral resource, and that further drilling is required at parts of Five Ways.
Waratah's reported results cover only the upper 100m of GCD001, and the company said it is uncertain whether further exploration will result in a Mineral Resource.
Sentinel has assays pending for four holes, and reported lower grades and narrower widths south of its pit shell than in the north.
Great Boulder's pathway to production relies on an ore purchase agreement with Westgold Resources, its largest shareholder.

Catalysts on Watch

Great Boulder: Phase 2 drilling at Jubilee, Golden Treasure and Durack, diamond drilling at Mt Pleasant and an end-of-year resource update.
Waratah: remaining assays from GCD001, drilling at GCD002 and pending results from completed holes at Spur and Consols.
Sentinel: PhotonAssay results for DDCO26-012 to DDCO26-015 expected in the coming weeks.
Sentinel: the updated Columbia Mineral Resource Estimate targeted for November 2026.

Wrapping Up

GBR, WTM and SNM were all lower during the 23 October 2026 trading session, with falls of 15.05%, 9.27% and 14.04% respectively, compared with a 0.37% decline in the S&P/ASX 200 at 1:16 pm AEDT. Their latest updates, dated 6, 20 and 13 October 2026, each covered drilling results, and each company has flagged further drilling or resource work as upcoming.

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