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Iron Road Ltd ( (AU:IRD) ) has issued an update.
Iron Road has completed a Stage 1 air-core drilling program at the Irria Prospect within its Mulgathing Project in South Australia, aimed primarily at assessing the potential for heavy mineral sands on exploration licence EL6580 under a farm-in and joint venture with Red Tiger Resources, which is managing the exploration work. The 27-hole, 690.5 metre program was dynamically scaled in the field based on visible heavy mineral sands, with results and follow-up plans to be reported in February 2026, while initial checks found no uranium mineralisation warranting assay; attention is now shifting to a geophysics-defined TAU-A target for possible nickel-copper-gold mineralisation, where a Stage 2 reverse circulation drilling campaign of deeper holes is being planned after earlier electromagnetic surveys indicated a strong conductive anomaly aligned with regional structures, potentially enhancing Iron Road’s exposure to base and precious metal opportunities at depth.
The most recent analyst rating on (AU:IRD) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Iron Road Ltd stock, see the AU:IRD Stock Forecast page.
More about Iron Road Ltd
Iron Road Ltd is an Australian exploration company listed on the ASX that is advancing mineral projects in South Australia. Through farm-in and joint venture agreements, the company is focused on identifying and evaluating resources including heavy mineral sands and base and precious metals within key exploration licences such as EL6580 at the Mulgathing Project’s Irria Prospect.
YTD Price Performance: 4.17%
Average Trading Volume: 330,472
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$20.8M
Learn more about IRD stock on TipRanks’ Stock Analysis page.