Public Company News

Market punters pushed Buru Energy’s share price up 25 per cent in intraday trading following news that the company’s Rafael 1 exploration well in the Canning Basin is set for production testing. Only last week Buru completed the drilling of Rafael and the company put a spring in its step after early indicators pointed to wet gas rich in LPG and condensate in the hole.

Mineral exploration company, Kairos Minerals has wrapped up a 15,000 metre drilling blitz with a bang at its 873,000 ounce Mt York gold project in the Pilbara region of WA. Latest drilling has unveiled new gold lodes in areas with minimal past drilling that have delivered wide and shallow intercepts including 20m at 1.58 grams per tonne gold from just 28m depth.

Superior Resources has wrangled a stampede of significant gold intercepts from 15 RC drill holes returned from the latest round of assays at its Steam Engine prospect in Queensland. Stellar assay results received include a 21m wide hit grading at 2.2 grams per tonne gold from 160m downhole and an 8m intercept that came in at 2.8g/t gold from 154m downhole.

Novo Resources has launched into a 15,000 metre drill program at its Nullagine gold project where it will focus on the company’s Parnell-Vulture prospect located a meagre 45 kilometres from its Golden Eagle processing plant in the Pilbara. The Parnell-Vulture prospect has an assortment of historical high-grade, near surface drill intercepts including a 9m hit going a commendable 8.4 grams per tonne gold.

Blackstone Minerals has secured a strategic investment in Flying Nickel Mining Corporation’s massive 44Mt Minago nickel sulphide project southwest of Thompson in Manitoba, Canada. Blackstone has pumped C$2.98m into Flying Nickel in return for a 6.85 per cent interest in the company. A Memorandum Of Understanding has also been signed with Flying Nickel to collaborate on upstream and downstream processing and opportunities around offtakes.

Okapi Resources has appointed highly experienced mining executive Andrew Ferrier as the company’s new Managing Director. Ferrier brings with him over 15 years’ experience in corporate finance, management and principal investment roles in the global mining sector. He previously spent over a decade at Pacific Road Capital - a mining and metals-focused private equity investment firm with interests across Australia, Canada and the US.

Venture Minerals’ Tasmanian tin pursuit looks to be heating up with drilling at its Mount Lindsay Tin-Tungsten project intersecting 93 metres of mineralisation in its opening hole of a freshly launched campaign. The intersection included a high-grade zone of 12m grading 1.7 per cent tin equivalent from 107m. The company says its recent work is aimed at completing an updated feasibility study for an underground mine.

Aldoro Resources is powering through a rock chip sampling program targeting high-interest lithium and rubidium pegmatites, following up some exciting previous rock chip samples at its Wyemandoo project approximately 80 kilometres southeast of Mount Magnet in WA. To date, 275 samples have been collected and of the 80 samples already analysed by portable XRF the overwhelming majority have returned highly anomalous rubidium values.

ASX-listed Quantum Graphite has delivered a solid lift to its graphite resources on the Eyre Peninsula in SA. Recent drilling near its hefty 6.3Mt Uley 2 resource grading 11.1 per cent total graphitic content has now defined an additional 0.9Mt going 6.6 per cent TGC at its newly delineated Uley 3 deposit. Mineralisation at Uley 3 remains open along strike and at depth, according to the company.

Venus Metals Corporation together with joint venture partner, Rox Resources, has struck several high-grade gold intersections at Youanmi in WA including a 3.87m hit grading a solid 9.9 grams per tonne gold from 328.33m downhole and a 3.62m hit going 6.49g/t from 315.42m downhole. The new parallel lode remains open in all directions and is on track to increase estimated gold resources at the Youanmi gold project.

ASX-listed Infinity Lithium looks to be systematically progressing its battery production expertise at its San José lithium project in Spain with the company’s freshly incorporated, Infinity GreenTech outfit lodging a provisional patent application for a cutting-edge lithium hydrometallurgical conversion process. The company says its latest venture will focus on commercialising low carbon footprint lithium hard rock processing technologies.

Kalgoorlie Gold Mining commenced trading on the ASX yesterday after raising $7.5 million through its initial public offering. Drilling is already well underway at its flagship Bulong Taurus gold project near Kalgoorlie with a total of six holes completed to date targeting some bonanza historical grades, including a 5m hit grading a whopping 52.1 grams per tonne gold from 15m downhole.