Benz Mining (ASX:BNZ) reported AU$94 million pro forma cash following its recent AU$75 million placement, which it said it will use to fund its Glenburgh gold project in Western Australia, according to a Tuesday Australian bourse filing.

The company said that the 2025 geological work has transformed Glenburgh into a coherent district-scale system as the granted mining lease is now resolved into three major gold camps, each large enough to be a substantial gold project in its own right.

The company added that its 2026 drilling will be executed across all three camps of the project, including Hurricane, Icon, and Thunderbolt.

Benz Mining has introduced Thunderbolt as a third camp-scale opportunity on the Mining Lease, which is interpreted to be geologically analogous to the Icon and Hurricane camps and is an "enormous" growth opportunity for the project.

The company's shares rose almost 3% in recent Tuesday trade.