Public Company News

ASX-listed American West Metals has made a promising start to its US metals hunt after spotting extensive visual zinc and copper mineralisation in the first diamond hole at its West Desert project in Utah. The discovery forms part of an inaugural 7,500 metre probe at the project aimed at testing the continuity of the high-grade mineralisation.

ASX-listed junior explorer Metal Hawk has hit serious paydirt again at its Berehaven project, 20 kilometres south-east of Kalgoorlie in the West Australian Goldfields. Assays have confirmed a high-grade gold zone of five metres grading 7.2 grams per tonne gold is sitting below the company’s high-grade nickel zone identified last year. Promisingly, mineralisation remains open in all directions.

Junior gold explorer Great Southern Mining says a two-hole probe of its Southern Star deposit has confirmed a significant mineralised system. The deposit forms part of the Duketon gold project about 45 kilometres north of Laverton in WA. The company says both diamond holes intersected a mineralised quartz dolerite unit and gold-bearing assemblages that could be part of a larger system.

Trigg Mining has placed an additional $700,000 worth of shares following an oversubscribed $3.3 million share placement that received attention from new and existing investors, boosting the total capital raise to $4m. The extra proceeds will increase Trigg’s cash reserves to a formidable $7m, putting it in a strong position to progress its pre-feasibility study at the company’s Lake Throssel sulphate of potash project in WA.

DiscovEx Resources’ and joint venture partner Carnaby Resources’ remarkable Nil Desperandum prospect within the Greater Duchess copper gold project is looking like the gift that keeps on giving after the duo announced an extension of wide zones of copper mineralisation. Carnaby, the majority owner of the project in Mt Isa, Queensland, says the copper grades look to be increasing at depth.

Base metals and gold junior Todd River Resources has joined the ever-increasing ranks of explorers suffering from slowdowns at Australian assay labs as it waits for results from recent drilling. The company is eager to get follow-up work on the Berkshire Valley project underway prior to the start of this year’s crop seeding season as its nickel copper palladium group project sits in WA’s wheatbelt.

Aurum Resources has hit sulphides in all drillholes bar one as part of a maiden drilling campaign at its Penny South gold project. The activity is targeting structural anomalies along strike from the high-grade Ramelius owned Penny North deposit and the historical high-grade Penny West mine. The company is currently halfway through an 18 hole program for a total of 5,000 metres.

ASX-listed junior explorer Askari Metals is enjoying some early success at its newly acquired Barrow Creek Lithium Project in the renowned Arunta pegmatite province of the Northern Territory. Spontaneous sampling whilst the company was performing due diligence in its acquisition of the project revealed rocks running at an encouraging 817 parts per million lithium oxide. Askari is now gearing up for further exploration.

Image Resources has announced its intention to pay a 2 cent fully franked dividend after it receives the final results from the 2021 calendar year which it says are strong. The continued solid demand for Image’s heavy mineral sands from its Boonanarring project 80km north of Perth along with buoyed mineral sands prices and some cost control has resulted in a bumper calendar year for the Perth based company.

Infinity Lithium has chalked off another breakthrough at its San José lithium project in Spain after a metallurgical test work program proved successful in scaling up the production of battery-grade lithium carbonate and hydroxide ahead of a looming feasibility study. The work is funded by EIT Innoenergy and aimed at developing a more sustainable refining technology for lithium mineralogies.

Podium Minerals has upgraded its mineral resource estimate at the company’s Parks Reef platinum group metals project near Meekatharra in WA boosting its previous PGM estimates by 28 per cent to 2.8 million ounces grading 1.56 grams per tonne PGM. The copper estimates also experienced a healthy boost rising by 31 per cent to 27.8m tonnes at 0.24 per cent copper for 104,000 tonnes of contained copper.

Battery metals developer AVZ Minerals is set to plough $25 million into an early works program and exploration drilling campaign at its Manono lithium and tin project in the Democratic Republic of Congo in Central Africa. The outlay follows a $75 million cash injection from a heavily oversubscribed capital raise and aims to fund the company’s shift to lithium production.