Public Company News

Venus Metals has encountered platinum group element, copper and nickel mineralisation at its Youanmi project in WA after probing a promising electromagnetic conductor. A seven hole, 734 metre drilling program has extended the mineralisation at the project with a 7m intersection going 0.85 g/t platinum, palladium plus gold from 124m. The 7m hit also included a high-grade interval of 2m at 1.44 g/t platinum, palladium plus gold.

Infinity Lithium has estimated the net present value of its proposed San José lithium mine and hydroxide plant in Spain at US$811.7m, which translates into a whopping $1.094 billion in Australian dollars. The company says the project will spit out US$190m a year for 26 years in net cash flows from the production of 19,500 tonnes of battery grade lithium hydroxide annually.

Strickland Metals saw its share price surge by more than 60 per cent in intraday trading following discovery of broad, shallow and high-grade zinc and lead mineralisation in the Earaheedy Basin, directly along strike to Rumble Resources’ celebrated Chinook zinc and lead discovery. The first two drill holes of an initial five-hole campaign at Strickland’s Iroquois prospect returned thick mineralised hits, including 23m at 5.5 per cent zinc and lead.

Assay results from Askari Metals’ drilling at its WA Burracoppin gold project have confirmed several high-grade intercepts with a broad low-grade gold halo seen in many of the other holes. Additionally, the company has identified a new prospect east of the current system. Askari plans to follow up this area which has the potential to positively change the size and the scale of the Burracoppin project significantly.

St George Mining has launched into another round of diamond drilling on the hunt to find deeper targets identified by compelling electromagnetic survey results at their 100 per cent owned Mount Alexander nickel-copper project in the north-eastern goldfields. The company is also targeting down plunge continuity following an enticing 11.07 metre drill hit grading 1.58 per cent nickel and 0.71 per cent copper from 333.5 metres.

Recent assay results from ABx Group’s Deep Leads rare earth element discovery in northern Tasmania have proven the mineralisation extends over an area greater than 3km. Importantly, results from one hole set a record with the highest grade of total rare earth elements from Deep Leads, returning a whopping 3,306 parts per million TREO. The company has just commenced an extension drill program.

Reconnaissance sampling by ASX-listed, King River Resources has unveiled elevated levels of gold, copper and silver from several areas scattered along more than 150km strike of the prospective Whitewater Volcanic rocks. Located at the company’s Mt Remarkable tenure in the Kimberley region of WA, grades going as high as 7.01 grams per tonne gold and 2.3 per cent copper were returned.

Venture Minerals has commissioned a feasibility study for an underground tin mine within its Mount Lindsay tin-tungsten resource near the high-grade Renison tin mine in northern Tasmania. The Australian government has declared tin a critical resource as global competition for the battery metal heats up. Tin prices soared to record highs recently, touching US$37,500 a tonne, up 180 per cent since 2016.

Multi-mineral exploration company, Oar Resources is about to hit the go button on a maiden diamond drilling campaign at the high-grade Douglas Canyon gold project in the US. The company is planning a four-hole, 1000 metre campaign in Nevada aimed at targeting near-surface mineralisation and testing down dip depth extensions where historical grades have tipped the scales as high as 18 grams per tonne gold and 398 g/t silver.

Toronto-listed gold producer Novo Resources has churned out 18,144 ounces of gold in the third quarter at its newly minted Nullagine gold project in the Pilbara that produced 14,890 ounces in the previous quarter. Gold sales generated C$43 million revenue for the conglomerate gold miner who finished the quarter with a hefty C$44.1 million in the kitty and an impressive C$135 million worth of liquid investments.

Buru Energy has completed another 74,000 barrels crude oil lift from its Canning Basin acreage in Western Australia that will be shipped out of Wyndham port and sold to BP Singapore who will deliver it to a refinery in SE Asia. Buru will pick up a handy $3.7m for its 50 per cent share of the oil.

Torian continues to uncover a swathe of decent gold grades across its Leonora-based Mt Stirling project revealing what it says looks to be one large connected ore system just eight kilometres along strike of Red 5’s four-million-ounce King Of The Hills gold mine. Notable intercepts include 10m grading at 2.05 grams per tonne gold from 34 metres and 1m grading 6.03 g/t gold from 3m.