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Hillgrove Resources Limited ( (AU:HGO) ) just unveiled an update.
Hillgrove Resources has defined its first Exploration Target for the southern area of the Kanappa prospect, estimating 5.8–11.5 million tonnes grading 0.2–0.8% copper and 0.05–0.1 g/t gold in a conceptual porphyry-style system. The target is based on prior drilling, soil geochemistry, geophysical surveys, and geological interpretation, but is not yet classified as a Mineral Resource under the JORC Code.
The South Australian Department for Energy and Mining has approved the environmental program for drilling under EL6526, clearing the way for a June quarter drill campaign running through the September quarter of 2026. Hillgrove is reallocating capital from lower-prospectivity tenements to focus on Kanappa, where new drilling will test deep IP anomalies and follow up earlier skarn mineralisation, potentially enhancing its copper-gold growth pipeline if results confirm a significant porphyry source.
The most recent analyst rating on (AU:HGO) stock is a Buy with a A$0.08 price target. To see the full list of analyst forecasts on Hillgrove Resources Limited stock, see the AU:HGO Stock Forecast page.
More about Hillgrove Resources Limited
Hillgrove Resources Limited is an ASX-listed mineral exploration and development company focused on copper and gold projects in South Australia. The company targets porphyry-style and skarn-associated Cu-Au systems, deploying geophysical surveys, geochemistry, and drilling to define and advance high-priority exploration prospects.
Average Trading Volume: 15,312,645
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$136.6M
For an in-depth examination of HGO stock, go to TipRanks’ Overview page.