Public Company News

Canning Basin focussed hydrocarbon producer, Buru Energy, has spudded a new oil exploration well known as Miani 1, to the northwest of the company’s Blina oilfield, about 70km east of Derby, in the West Kimberley region of WA. The structure being targeted is well defined by 3D seismic and analogous to similar features in North America that hold major oil and gas accumulations, the company said.

Bellevue Gold’s attempt to expand the footprint of its exciting Deacon and Mavis gold discoveries in WA’s Goldfields seems to be paying off, with a step-out diamond hole returning gold intercepts of 3.8 metres at 13.9g/t gold at Deacon and 1.7m at 5.9g/t gold at Mavis in the same drill hole that contained quartz, sulphides and visible gold mineralisation, just 400m east of historical underground mine workings.

Lithium Australia has achieved its goal of generating a high-quality cathode material suitable for producing lithium-ion batteries, by recycling spent batteries. The company says the cathodes were used to create coin cell batteries with an electrochemical performance that exceeded its expectations. The company is seeking to “close the loop” on the energy-metal cycle, by producing materials suitable for manufacturing lithium-ion batteries from the components of old recycled batteries.

Hammer Metals has received the first assays from drilling at its Bronzewing South gold project in WA where the company appears to be onto a new system. The testing of five targets along mineralised trends south of Echo Resources’ historic Bronzewing mine returned some solid numbers and Hammer now believes that many historical holes were either too shallow to be effective or, if effective, the mineralised intercepts were not adequately followed-up.

Aurora Labs will receive both ongoing income from operations and funds after the first sale of its unique RMP-1 Beta 3D printer to AdditiveNow, a company that it holds a stake in, alongside asset management and engineering giant, Worley. AdditiveNow is looking to provide 3D printing services to tier-1 energy, chemicals, resources and infrastructure clients and the deal represents a leap into commercialisation for Aurora.

Troy Resources is now debt-free and will look to channel its energies into the flagship Karouni gold operation in Guyana, South America, which has considerable blue-sky exploration upside through its nearby high-grade Ohio Creek prospect. The company has now reduced its debt from USD$71.57m in March 2015 to zero and will look to maximise Karouni’s potential through open-pit cutbacks on-site and ongoing exploration.

Norwest Energy will dispose of its minority holding in the Jingemia oil production licence to concentrate on its other core assets in the Perth Basin, including the Lockyer Deep and North Erregulla gas prospects that are adjacent to Strike Energy’s exciting new Erregulla-2 gas find. The company is also awaiting 3D seismic data over its Xanadu oil discovery near Dongara, about 50km to the southwest.

Calidus Resources has confirmed the technical and economic open-pit credentials of its Warrawoona gold project in WA’s East Pilbara region on the back of some promising, new shallow RC drilling intercepts from the Klondyke deposit. The company is also continuing to de-risk the million ounce-plus ore resource, with recent work defining near-surface gold mineralisation in Klondyke’s eastern section.

Kalia Ltd has received $3m in funding from major supporter, Tygola, to accelerate exploration at its exciting Tore Joint Venture on Bougainville Island, where it has delineated numerous copper-gold porphyry systems from geophysical interpretation for follow-up work. The field programs aim to define and prioritise its maiden drilling targets, with the campaigns expected to kick off next year.

BlackEarth Minerals will rely on Chinese metallurgical expertise to help it develop a processing flowsheet and finalise all engineering due diligence for its evolving Maniry graphite project in south western Madagascar. A two-stage test work program has been designed and will conclude the final stages of technological, economic and environmental due diligence for the Australian company, who is looking to establish a world-class graphite operation in Africa.

PolarX has unearthed visible sulphides within porphyry-style mineralised vein sets and associated hydrothermal alteration in the first 300 metres of a drill hole at its Mars porphyry copper/gold target in Alaska, USA. Previous surface geochemical sampling at Mars recorded anomalous gold, copper and molybdenum and the company is now eagerly awaiting assays to confirm the tenor of the porphyry-related mineralisation.

Hammer Metals has appointed veteran mining executive, Dan Thomas, as its new Managing Director who brings with him an extensive background in project management, corporate development, business improvement, mergers and acquisitions across multiple resource sectors. Mr Thomas will assist the company to progress its separate mineral discoveries in Queensland’s Mount Isa district and WA’s prospective Yandal belt.