# Austral Resources reports 15m at 4.59% copper and 1.16g/t gold at Cameron River

> Austral Resources reported 15m at 4.59% copper and 1.16g/t gold from Waterhole, with 25 of 32 holes hitting copper at its Cameron River project in Queensland.

- Published: 2026-10-22T01:15:52+00:00
- Section: Research & Clinical Trials
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-22/austral-resources-cameron-river-copper-gold
- Source: [TradingView](https://www.tradingview.com/news/smallcaps:8572cab75094b:0-austral-resources-australia-hits-high-grade-copper-gold-at-cameron-river/)

## Key takeaways

- Austral Resources reported a 15m interval grading 4.59% copper and 1.16g/t gold from 40m at the Waterhole prospect.
- 25 of 32 reverse circulation holes returned significant copper intersections across six prospects at Cameron River.
- Follow-up drilling is planned near the Rocklands processing facility, with a broader program targeted for 2027.

Austral Resources Australia reported a 15-metre interval grading 4.59% copper and 1.16 grams per tonne gold from 40 metres at the Waterhole prospect of its Cameron River project in north-west Queensland, the company said. [TradingView](https://www.tradingview.com/news/smallcaps:8572cab75094b:0-austral-resources-australia-hits-high-grade-copper-gold-at-cameron-river/) published the announcement on October 22, 2026.

## Waterhole Leads The Cameron River Results

Across the reconnaissance campaign, 25 of 32 reverse circulation holes returned significant copper intersections, establishing mineralisation at six prospects that have largely seen little modern drilling. The leading 15m intersection included a richer 13m interval at 5.21% copper and 1.24g/t gold, while another hole returned 17m at 1.27% copper and 0.29g/t gold from just 7m.

Exploration at Waterhole centred on historical copper workings beside the contact between the Corella Formation and Ballara Quartzite, where a magnetic anomaly suggested a structural target beneath the surface. Austral is investigating whether mineralisation wraps around an interpreted fold closure and continues through its keel, along strike and at depth.

"Waterhole has delivered the standout result from our Cameron River reconnaissance campaign, with strong copper grades accompanied by meaningful gold," chair David Newling said. "We have also intersected copper–gold mineralisation across several additional targets, giving us a clearer set of priorities for follow-up drilling."

The search extends to Playboy and Dawn Marie, where copper-gold intersections lie within an interpreted structural corridor stretching approximately 1.3km through historical workings and surface anomalies. At Playboy, drilling returned 5m at 2.79% copper and 0.26g/t gold from 10m, while Dawn Marie delivered 7m at 1% copper and 0.26g/t gold from 113m. At Snow Queen, the latest drilling traced copper mineralisation across an interpreted 170m strike length and left the western extension open.

The reported intersections are downhole lengths rather than confirmed true widths, and the significant results use a 0.5% copper cut-off with up to 3m of internal dilution.

## Rocklands Funding And Hammer Deal Precede Drilling

In August 2026, Austral secured a $15 million non-dilutive royalty investment from the Queensland Investment Corporation to expand its Rocklands copper processing facility in north-west Queensland, Mining Weekly reported. The same month, Austral entered a binding scheme implementation deed to acquire 100% of Hammer Metals for approximately $80.7 million, following the lapse of a competing offer from Larvotto Resources, according to Mining Weekly.

In July 2026, Austral received a new agglomeration drum as part of ongoing upgrades at its Mt Kelly copper processing facility, AInvest reported.

## Copper Explorers Advance Separate Projects

Coyote Copper is advancing a 70+ square kilometre copper exploration project near Phoenix, Arizona, next to Rio Tinto and BHP's Resolution Copper project, and recently secured a drill permit, [Aktien](https://www.wallstreet-online.de/nachricht/21503053-video-ceo-clips-coyote-copper-exploring-for-a-major-copper-discovery-arizona-s-copper-triangle) reported on October 9, 2026. Angkor Resources reported a university study supporting copper-molybdenum porphyry potential at the Thmei North target in Cambodia's Andong Bor license, with drilling plans targeting 1,700 meters in early 2027, [The future of trading](https://capital.com/en-int/news/angkor-resources-says-university-study-backs-copper-molybdenum-porphyry-potential-at) reported on October 13, 2026.

## Miranda Drilling And 2027 Program Ahead

Austral's immediate drilling focus is shifting to its Miranda project for resource definition and potential expansion at the Enterprise copper resource, ahead of a broader exploration program planned for 2027. Waterhole will be prioritised for tests of the interpreted fold and possible extensions, while the Playboy–Dawn Marie corridor and Trumby Line require closer-spaced drilling to assess continuity.

## Companies in this story

- Austral Resources · website: https://www.australres.com

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