Good drilling results push these ASX mining stocks higher

These ASX mining stocks surged on copper tailwinds and resource breakthroughs. 

FireFly Metals Ltd (ASX: FFM) 

FireFly Metals Ltd (ASX: FFM) stands out among ASX explorers with its high-grade Green Bay Copper-Gold Project in Newfoundland Canada, a permitted VMS district featuring world-class underground infrastructure and a resource primed for rapid upscaling.

On 08 April 2026, the company has reported recent drilling  from the 805L exploration drive which underscores the exceptional continuity of the high grade Core Zone where VMS lenses merge with broad footwall stringers. Standout intercepts like 70.8m at 4.0% CuEq including 19.2m at 7.5% CuEq and 53.3m at 4.1% CuEq confirm thick consistent mineralisation ideal for early cashflow in production scenarios. Upper VMS zones delivered 11.9m at 8.1% CuEq while footwall extensions hit 20.9m at 4.5% CuEq bolstering Inferred to MI conversions ahead of mid 2026 economic studies.

The November 2025 MRE leapfrogged to 80Mt at 2.2% CuEq for 1.7Mt contained metal with 50.4Mt MI at 2.0% (863kt Cu 546koz Au) which amounted to a 35% tonnage 51% CuEq jump. The 19.9Mt Core Zone at 3.9% CuEq offers derisked high margin feed and remains open down plunge with six rigs driving resource upgrades at regional targets like Rambler and Tilt Cove plus H1 PEA targeting mid tier output.

A$251M cash and no debt fuels this catalyst pipeline in a copper bull market. FFM is positioned for  outsized returns as studies unlock value.

Ora Banda Mining Ltd (ASX: OBM) 

Ora Banda Mining Ltd (ASX: OBM) is a West Australian gold producer driving growth from its tier-1 Davyhurst Gold Project. It span over 100 km of Eastern Goldfields greenstone with a central 1.2 Mtpa processing hub and expanding underground/open pit operations.

Recent exploration has delivered exceptional results at Little Gem Prospect in the Riverina area which has significantly expanded the high grade mineralised system with multiple thick, high grade intercepts confirming a multi-lode structure open at depth and along strike.

The parallel Sapphire Trend discovery 200m east adds further scale while step outs at Sunraysia Prospect highlight the system's regional potential. A Maiden Mineral Resource Estimate is targeted for H2 CY2026, positioning Little Gem as a key feeder for Riverina Underground expansion.

The Round Dam deposit's resource has grown dramatically to over 1.3 million ounces within cash positive open pit shells, supporting Davyhurst's total inventory to 3.3 Moz across an 18km prospective trend still open for further discoveries.

H1 FY26 financials reflect operational strength with record revenues, sharply higher EBITDA and strong operating cash flows from increased underground production at Sand King, which achieved capital payback within 12 months. A strong $155M cash position and strategic price hedges provide firepower to advance growth studies including a potential 3 Mtpa standalone mill.

(Source: Company Announcements)