Michael Philipps

Lindian Resources has officially wrapped up its 4000m mine development drilling at its Kangankunde rare earths project in Malawi as it aims to define its resource at the operation into the indicated category. Assay results are expected to arrive in early December with a 400m geotechnical drill campaign to assess rock mechanics and ground stability set to start and finish next month.

Perth-based Chariot Corporation will hit the boards at the ASX today with its foot on pretty much every potentially lithium-bearing pegmatite in the US state of Wyoming and a clay-based lithium play in Nevada. With some pulse-quickening lithium rock chip grades already in the bag, the lithium-bearing pegmatites in Wyoming look like they are begging to see a drill bit.

Auric Mining has recorded one of the highest-ever gold price sales in Australia after selling 1361 ounces from its Jeffreys Find mine at $3130 per ounce to the Perth Mint for a gross revenue of $4.26 million. The joint venture operation between the company and BML Ventures has distributed the money with Auric receiving $2.2 million in its maiden disbursement of surplus cash from the stage one of the project.

Askari Metals has launched a targeted trenching campaign at its flagship Uis lithium project in Namibia, where it will test four high-priority pegmatites within its recently-identified “corridor of interest”. The company will initially focus on its OP target, which has an estimated surface strike of more than 2km, before moving onto the PS, DP and K9 prospects for a total of 111 trenches through 3750m.

Horizon Minerals will retain financial exposure to 62 tenements within its Kalgoorlie project area despite entering into a binding asset sale agreement for the ground with Northern Star Resources. According to the deal, Northern Star will pay Horizon $3.1 million in cash, in addition to receiving discovery payments of $20 per ounce for any JORC-compliant mineral resource at the sites – capped at 2 million ounces.

Terrain Minerals has hit rare earths during a reconnaissance-scale air-core (AC) drill campaign at its Lort River project near Esperance, with high percentages of magnetic rare earth oxides up to 43 per cent. Assay highlights show a 3m intercept grading 919 parts per million total rare earth oxides (TREO) from 23m, including a peak 1m hit going 1878ppm TREO.

St George Mining has kicked off a fresh lithium exploration campaign at its Mt Alexander project in Western Australia, with soil sampling, pegmatite mapping and outcrop sampling now underway at the operation. The program aims to test new lithium targets, in addition to an 8km-long zone around its Manta prospect where previous drilling by the company intersected a 121m-thick fractionated pegmatite.

Ora Banda Mining has made a solid start to the financial year with gold production rising 39 per cent to 16,952 ounces and sold gold increasing by 35 per cent to 16,319 ounces compared to the previous quarter. It finished the September quarter with $22.7 million, despite spending $11.2 million on the development of its Riverina underground gold mine and $2.8 million on exploration.

Interim feasibility work by Estrella Resources has confirmed the viability of a simple decline and two-level underground mine for its 5A nickel deposit at the company’s Spargoville project near Kambalda in WA. Management has estimated the mine’s capital and operating costs at $11 million, which can be represented as $US3.20 ($AU5.60) per pound of nickel produced. The current price is hovering at about $US8.30 (AU$13.30).