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Tasmania's mining sector has experienced a surge in exploration spending, reaching a record $13 million in the September 2025 quarter, driven by rising gold, copper, and silver prices. This marks a 51% increase year-on-year and more than a fivefold rise since the lows of $2.4 million in mid-2020.

Companies are exploring the potential for open-pit operations as gold prices remain high, surpassing US$5000/oz. Flynn Gold is expanding its exploration targets in the northeast, with a defined range of 449,000-520,000 oz at 3-4 g/t.

Octava Minerals has commenced drilling at the Sweeney's prospect, previously drilled in the 1970s. Stellar Resources is conducting a pre-feasibility study for its Heemskirk tin project, boasting a resource of 7.48 Mt at 1.04% Sn. The favorable regulatory environment and rich mineral deposits position Tasmania as a promising area for future exploration.