Matthew O'Kane

Comet Resources has spiced up its portfolio with the acquisition of the high-grade Santa Teresa gold project in Mexico. Drilling at Santa Teresa has already returned a bevy of eye-catching gold hits including 3.9m at 39 g/t gold and 1m at a whopping 958.4 g/t gold. The company is updating the resource over the project with exploration expected to kick-off in the coming months.

ASX-listed explorer, Comet Resources, has finalised a US$20 million “streaming” facility with Raptor Capital International for the potential development of its high-grade Santa Teresa gold project in Mexico. Historical drilling at the project intersected some bonanza gold hits including 1m at an incredible grade of 958 grams per tonne, or a whopping 33 ounces of gold to the tonne.

Comet Resources has wasted no time at its Santa Teresa gold project in Mexico, unveiling a high-grade maiden resource for the project, tipping the scales with 369,000 tonnes at an impressive 7.47 g/t gold. This initial estimate perhaps understates the potential of the deposit which hosts a wealth of high-grade intercepts and has only been drilled to 300m depth.

Comet Resources has wasted no time in kicking rocks at its Barraba copper project in the New England Fold Belt region of NSW after only recently securing exploration access to the historic mining area. It has just completed an initial field program around the old high-grade Murchison copper mine and the Gulf Creek North prospect consisting of geochemical soil sampling, rock chip sampling and geological mapping.

Comet Resources says drilling is expected to commence in the new year at its 50 per cent-owned Santa Teresa Gold Project in the Baja California region of Mexico where Comet has already booked a maiden high-grade resource of 369,000 tonnes at a solid 7.47 g/t gold. The company said local contractors were already on the ground in preparation for the start-up of fresh drilling around the historical workings.

Comet Resources has kicked an early goal in 2021 with initial field work across its Barraba base-metal project in NSW returning high-grade copper assays. Surface sampling at the historic Murchison mine has unearthed samples grading up to 4.6 per cent copper, 4.0 per cent zinc and 0.7 per cent cobalt, confirming the high-grade nature of the mineralisation across the prospect.

Comet Resources has unearthed samples bearing visible, fine gold at its high-grade Santa Teresa project in Mexico. Detailed geological mapping and sampling through the historic mine area has also identified a raft of previously unrecognised structures hosting gold-rich quartz veins that remain untested by drilling. The permitting is now well advanced and the company expects to kick off resource drilling in the coming months.

Comet Resources has rattled the tin and raised a million dollars from sophisticated and institutional investors. The cash injection will largely go towards funding an expansion of exploration activities at its historic Barraba copper project in the New England Fold Belt region of NSW. Recent geochemical sampling results at the project included up to 4.6 per cent copper, 4.0 per cent zinc and 0.7 per cent cobalt.

ASX-listed base metals and gold explorer, Comet Resources is set to launch an aeromagnetic survey at its Barraba copper project in north-east NSW following recently completed initial geochemical soil and rock chip sampling work that yielded high-grade base metal values. The Perth-based company is hoping to ultimately generate a solid set of targets for a first round of drilling.

ASX-listed explorer, Comet Resources has struck an agreement to buy a portfolio of prospective greenfields base and precious metals properties in the Northern Territory in a scrip-dominated staged payment deal worth under $1 million. The tenements package consists of several exploration licences and licence applications spanning an area of approximately 840 square kilometres that take in the Oonagalabi copper-zinc, Paradise Well copper-gold and Silver Valley copper-gold-silver-lead projects.

In what is becoming a definite trend for graphite developers now, ASX-listed Comet Resources is looking for downstream commercial opportunities for its Springdale graphite deposit near Ravensthorpe in WA. The company says it is aiming to create a graphitic product for use in anodes in the flourishing lithium-ion battery market and its recent test work on ore from Springdale showed excellent recoveries and purity levels.

Comet Resources has been given the green light to begin drilling at its high-grade Santa Teresa gold project in northern Mexico. The Environmental Impact and Risk assessment department in Baja California has now completed its evaluation of the company’s planned drilling program, clearing the way for diamond drilling to commence in the weeks ahead.

Busy ASX-listed junior explorer, Comet Resources has added geographic and commodity diversity to its portfolio by forging ahead with a deal to acquire large tracts of prospective copper-gold and base metals exploration ground in the Northern Territory. Limited past exploration has turned up promising precious and red metal results. The company now has its foot on 840sqkm of prospective ground in central Australia.

Comet Resources has pulled off something of a coup, entering into an agreement to acquire the mineralised extensions to its Santa Teresa gold mine in northern Mexico. The company is looking to secure the La Sorpresa III lease to the north-west of its mine, said to host a number of old shafts and workings, where historical records show production grading at an incredible 280 grams per tonne gold.

Comet Resources has hit the ground running in northern Mexico with a drill rig already pushing out diamond core from the company’s Santa Teresa gold project. The company has designed more than 2,000 metres of diamond drilling to test the historical mining area, with exploration targeting a mass of quartz veins and stockworks which have previously returned assays of more than 950 g/t gold.

Comet Resources has confirmed recent re-assaying of core from an historic drilling program at their Santa Teresa project in Mexico has proven intersections of high-grade gold, including ‘bonanza’ grade hits of up to 132g/t gold. Comet has also completed the analysis of samples from a surface sampling program and phase 1 metallurgical test work.

Specialist test work on natural flake graphite sourced from Comet Resources’ 100 per cent owned Springdale graphite project in the south of Western Australia has demonstrated its suitability to produce a precursor material for use in the manufacture of lithium-ion battery anodes. Comet says the results enhance the prospects for future development of the project.

Mineral exploration company, Comet Resources has commenced reporting environmental, social and governance metrics under a universal framework developed by international non-government organisation, the World Economic Forum. A series of sustainability metrics will now be measured and then disclosed in the Perth-based company’s quarterly and annual reports, including governance, anti-corruption practices, ethical behaviour, diversity and inclusion, pay equality and carbon emissions.

Comet Resources is set to become a key player in the lucrative downstream processing of lithium-ion battery anode material after vending-out its Springdale graphite project to International Graphite - an Australian manufacturer of high-value graphite products for supply to global markets. International Graphite plans to list on the ASX early next year with Comet in line to own a 25 per cent stake in the graphite manufacturer after the listing.