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Tali Resources Ltd (ASX:TR2) has raised $3.0 million through a placement to fast-track exploration at its West Arunta Project in Western Australia, covering 4,000 square kilometres across 15 exploration licences. The company has initiated a comprehensive aircore drilling campaign targeting ten prospects and completed a significant 1,800 square kilometre Falcon airborne gravity gradiometry survey during the June 2026 quarter. With a cash reserve of around $5.2 million and strategic exploration plans extending into the latter half of 2026, Tali aims to evaluate multiple high-priority targets prospective for copper, critical minerals, and precious metals along the major crustal-scale Central Australian Suture.
Key Points
- Tali Resources Ltd (ASX:TR2) focuses on mineral exploration at its West Arunta Project, situated 500 kilometres south of Halls Creek, Western Australia.
- The company completed a $3.0 million placement this quarter to support multi-phase exploration including aircore drilling and geophysical surveys.
- An extensive aircore drilling program has commenced, targeting ten prospects such as Caspian East, Caspian North, Gibson West, Verde, and second-phase tests at Chilka and Hutt.
- A 1,800 square kilometre Falcon gravity gradiometry survey was finalized, with results under analysis to refine targets; additionally, Tali received a $270,000 Western Australian Exploration Incentive Scheme grant for Khya and Vanda prospect drilling.
- Investors should watch progress on second-half 2026 drilling at Khya, Don Juan, and Alakol prospects, especially Don Juan and Alakol within a 45-kilometre alkaline ultramafic dyke system showing rare earth element anomalies.
West Arunta Project Overview and Mineral Potential Along the Central Australian Suture
Tali Resources’ West Arunta Project spans about 4,000 square kilometres across 15 exploration licences, located 500 kilometres south of Halls Creek in Western Australia. The area is prospective for various mineral deposit types including iron oxide copper-gold (IOCG), sediment-hosted copper, carbonatite-related mineralisation, and orogenic gold. Its strategic position near the Central Australian Suture, a major crustal-scale geological structure, enhances the prospectivity of targets within the tenure.
The company’s exploration strategy emphasizes testing conceptual targets and refining prospects through integrated geophysical surveys and drilling. West Arunta remains Tali’s main exploration focus, with significant resources dedicated to advancing drilling programs and geophysical data collection aimed at discovering economic mineral deposits. The targeted deposit styles reflect a diversified approach across copper, precious metals, and critical minerals.
Aircore Drilling Program Targets Ten Prospects Based on Geophysical Anomalies
In the June 2026 quarter, Tali Resources launched a broad aircore drilling program at West Arunta designed to test a mix of gravity-only, coincident gravity and magnetic-high, and magnetic-high only anomalies. The program covers ten prospects with varying exploration histories. Chilka and Hutt represent second-phase drill tests following earlier geochemical anomalies, while the other eight prospects are undergoing first-pass drilling of high-priority conceptual targets.
First-pass drilling targets include Caspian East, Caspian North, Caspian North-East, Gibson West, Hutt West, Lonar East, Verde East, and Verde West. All are located near the Central Australian Suture, aligning with the company’s strategy to focus on anomalies close to this major crustal structure. This aircore program aims to generate initial geochemical data to prioritize follow-up exploration and refine drill targeting for future phases.
Completion of Falcon Gravity Gradiometry Survey Covering 1,800 Square Kilometres
Tali Resources completed a large-scale Falcon airborne gravity gradiometry survey spanning 1,800 square kilometres during the quarter, a key geophysical initiative across critical areas of its tenure. The survey was flown at 600-metre and 400-metre line spacings to ensure adequate data density for identifying large-scale geological features and better defining bedrock structures to aid follow-up targeting.
The gravity gradiometry data, received late in the quarter, is under technical review. Results will be integrated with other geophysical datasets, including the recently released Geological Survey of Western Australia (GSWA) airborne magnetic and radiometric data, to prioritize drilling targets and refine prospect interpretations. Combining multiple geophysical datasets aims to enhance target ranking and identify new exploration opportunities within West Arunta.
Khya Prospect Exhibits Large Gravity Anomaly and Secures $270,000 Exploration Grant
The Khya prospect, slated for drilling in the second half of 2026, features a large gravity-high anomaly of up to +1 milliGal within a 3.5-kilometre diameter magnetic-high anomaly located in the Lake Mackay Fault Zone, an area with no prior drilling. These geophysical characteristics highlight Khya as a priority target with potential for structurally controlled mineralisation.
Tali Resources received a $270,000 Exploration Incentive Scheme grant from the Western Australian Department of Mines, Petroleum and Exploration to co-fund drilling at the Khya and Vanda prospects in H2 2026. This grant, representing about 9% of Tali’s current cash balance, underscores government confidence in the project’s prospectivity and materially offsets exploration costs.
Don Juan and Alakol Prospects Part of 45-Kilometre Alkaline Ultramafic Dyke System with Rare Earth Element Anomalies
The Don Juan and Alakol prospects lie within a 45-kilometre-long alkaline ultramafic dyke system exhibiting both magnetic and gravity geophysical signatures. Limited historical drilling—seven holes in 2022 and 2023—intersected aillikites, carbonatite-related intrusive rocks containing anomalous rare earth element concentrations, confirming rare earth mineralisation in the system.
Further drilling planned for H2 2026 aims to evaluate whether the aillikite complex hosts zones with elevated critical mineral concentrations. Supporting confidence, historical 2011 rock chip sampling by Toro Energy Ltd on outcropping wall rock sediments returned total rare earth oxide grades up to 4%. The combination of drilling results, anomalous surface samples, and the dyke system’s scale suggests strong potential for critical mineral discoveries.
Integration of GSWA Airborne Magnetic and Radiometric Data Enhances Prospect Refinement
The Geological Survey of Western Australia (GSWA) conducted a detailed airborne magnetic and radiometric survey over the broader West Arunta region during the quarter, flown on 100-metre line spacing oriented north-south across all Tali tenure. The magnetic data was released in April 2026 and the radiometric data in June 2026, providing high-resolution geophysical coverage across Tali’s exploration portfolio.
Tali is integrating GSWA datasets with its Falcon gravity gradiometry and other exploration data to refine prospects and identify new targets. This multi-layered geophysical approach combining gravity, magnetic, and radiometric data enhances prospect ranking and guides drilling towards the highest-potential zones. The recent GSWA data release supports ongoing refinement of exploration strategies.
$3.0 Million Capital Raise Completed to Support Multi-Phase Exploration Program
During the June 2026 quarter, Tali Resources raised $3.0 million via a share placement to institutional and sophisticated investors. Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Joint Bookrunners. Proceeds will fund exploration activities at West Arunta, including the multi-phase drilling campaign, transaction costs, and general working capital.
The placement provides a significant capital boost, with total cash at 30 June 2026 approximately $5.2 million, reflecting both the placement and operational expenditure. This capital injection demonstrates investor confidence in Tali’s exploration strategy and ensures financial capacity for drilling programs planned through the remainder of 2026.
Exploration Expenditure of $886,000 in June Quarter Aligns with Prospectus Forecasts
Tali Resources incurred $886,000 in exploration and evaluation expenses during the June 2026 quarter, covering drilling, geophysical surveys, and consultant fees. No development expenditure was recorded, consistent with the company’s focus on exploration.
According to the company’s IPO Prospectus dated 10 June 2025, which forecasted $7.50 million in two-year expenditure, actual spend to 30 June 2026 totaled $5.19 million. West Arunta exploration costs were $3.13 million against a $4.25 million estimate, loan repayments to Niobium Holdings Pty Ltd amounted to $1.03 million as planned, corporate and administration expenses were $0.54 million versus $1.50 million forecast, and offer costs were $0.49 million against $0.50 million budget. Tali remains on track to meet its expenditure forecasts.
New Exploration Licence Application Submitted as Part of Project Generation Strategy
While focusing primarily on West Arunta, Tali Resources continues to pursue new project opportunities. During the June 2026 quarter, the company lodged an exploration licence application for tenement E80/6264, reflecting ongoing efforts to expand and diversify its exploration portfolio. Details on the location and prospectivity of this new licence were not disclosed.
This dual-track approach balances advancing the flagship West Arunta Project with identifying complementary exploration prospects. The new licence application signals confidence in the broader region’s mineral potential, with investors likely monitoring updates on its status and strategic impact on the company’s portfolio.
