Why did EQ Resources (ASX:EQR) launch its new exploration program?

EQ Resources (ASX:EQR) commenced the drilling program to target resource extensions and explore deeper mineralised zones. The company forecast that these exploration activities will support mine life extension efforts at its site.

What are the financial details for the new EQ Resources (ASX:EQR) campaign?

EQ Resources (ASX:EQR) allocated a specific budget of approximately $2.5 million for this exploration phase. The cash will cover the costs of deploying two active drill rigs across the targeted zones.

What is the specific pipeline timeline for the EQ Resources (ASX:EQR) program?

EQ Resources (ASX:EQR) expects the multi-hole drilling operation to run for approximately eight months. The company stated that final results and updated resource estimates will be delivered roughly two months after drilling concludes.

How is the current work setup configured by EQ Resources (ASX:EQR) on the ground?

EQ Resources (ASX:EQR) currently has two drill rigs operating on-site to complete the technical workload. This team infrastructure is configured to drill 36 holes across a total length of 12,155 metres.

What does this update mean for the geographic footprint of EQ Resources (ASX:EQR)?

EQ Resources (ASX:EQR) is executing this program at its flagship Barruecopardo Mine located in Spain. The company aims to expand its mineral footprint directly to the north, south, and below the existing open pit.

Image for illustrative purposes only. Not a real photo.

EQ Resources commences drilling program costing $2M

Written by Liezl GambePublished Jun 19, 2026, 2:00 AM

EQ Resources has started its Phase 1 drilling programme at the Barruecopardo Mine in Spain.
The campaign has an allocated budget of approximately $2.5 million.
The drilling aims to support mine life extension by exploring deeper mineralised zones.

EQ Resources (ASX:EQR) has commenced its Phase 1 drilling programme at the Barruecopardo Mine in Spain.

This new exploration campaign follows multiple resource updates completed by the company between 2024 and 2025.

The budgeted $2.5 million campaign involves drilling 36 holes across a total of 12,155 metres.

Two drill rigs are currently operating on-site to test extensions around the open pit.

The company stated that final results and updated resource figures are expected two months after drilling finishes.

Following the announcement, the EQ Resources share price was up at $0.27.

The global tungsten producer continues to focus on extending mine life across its key international assets.

EQ Resources commences drilling program costing $2M

Frequently asked questions

Assets related to this article