Public Company News

Geopacific Resources is free to advance the financing stage for the construction of its Woodlark gold project in PNG, after concluding its independent due diligence technical work programs and reporting, which showed no “fatal flaws” to its development. The review was commissioned by a group of potential lenders for the project, who have signed non-binding term sheets to finance operational start-up.

Infinity Lithium has hit a milestone with the successful production of lithium hydroxide using recycled reagents, a feat that the company said proves the viability of its processing flowsheet for the San José project in Spain. The company now expects to finalise the capital and operating costs within the next week, which will lead to the completion and release of the project’s pre-feasibility study.

Coziron Resources is gearing up to start a 12,500m infill and extensional drilling campaign at its exciting Ashburton magnetite iron project in the west Pilbara, WA, after receiving firm commitments for a $3 million placement. The program is aimed at facilitating the development of a maiden JORC-compliant mineral resource estimate extending over about 1.5 kilometres of strike.

PolarX has delineated large chargeable anomalies using data from a recent geophysical survey and commenced diamond drilling at the Saturn porphyry copper-gold target within its Alaska Range project in the US. The company said that the data returned from Saturn is consistent with porphyry copper exploration models worldwide and shows potential prospectivity for disseminated sulphides and a quartz-veined stockwork ore system.

Blackstone Minerals’ targeting appears spot on with its maiden drilling program at the Ta Khoa nickel project in northern Vietnam intersecting substantial disseminated nickel sulphide mineralisation. The first three holes at the Ban Phuc prospect returned wide intervals including 45.5m @ 1.2% nickel from 56.5m down-hole, 17.8m @ 1% nickel from 106.6m and 22m @ 0.8% nickel from 138m respectively.

Hot Chili has commenced a second phase of diamond drilling aimed at expanding the prospective, higher-grade zone of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile. The company said results from the first phase had exceeded expectations and re-shaped its view of the potential size and grade of the Cortadera discovery.

Anglo Australian Resources is set to ramp up exploration of its Mandilla gold project south of Kalgoorlie, Western Australia, after securing commitments for a $1.4 million share placement priced at 6.5 cents. Proceeds from the placement will also be used for further infill drilling and ongoing feasibility study work for the company’s flagship Feysville gold project also near Kalgoorlie.

88 Energy and partner Burgundy Xploration have signed an exclusivity agreement with the preferred bidder for the farmout of the conventional rights for their project known as “Project Icewine” in Alaska’s North Slope oil province. The bidder will pay USD$500,000 for initial agreed costs relating to the 2020 drilling program to secure exclusivity over the rights to 31 August 2019.

Bellevue Gold has discovered high-grade gold mineralisation below the historical Bellevue underground mine workings near Leinster, WA, with a peak result of 2.2m @ 27.8g/t gold from 656m down-hole. The new Deacon lode is located between 500m and 750m from the surface, over about 1km of strike, with mineralisation hosted in the same altered rocks as the mine and gold associated with sulphide minerals.

ASX-listed Neometals has intersected massive nickel sulphides at its Mt Edwards project in the Goldfields region of Western Australia with drilling returning a cracking intersection of 4m @ 6.3% nickel within a broader 11m @ 2.6% nickel from 108m down-hole at the Zabel prospect. Drilling at the Lake Eaton tenement also showed elevated nickel grades along strike of Mincor Resources’ high‐grade Cassini nickel deposits.

Brazil-focused gold explorer, Big River Gold, has received firm commitments from institutional and sophisticated investors for a $1.5 million share placement for exploration and evaluation of existing tenements adjacent to its flagship Borborema project. Proceeds from the placement will also be used for pre-construction activities to accelerate the development of the Borborema project.

Venus Metals and Rox Resources have extended high-grade gold mineralisation at the Currans Find North prospect near Youanmi, WA, with drilling returning a top intersection of 1m @ 57.2g/t gold from 110m down-hole. The results extend high‐grade gold mineralisation at depth and demonstrate the potential for the discovery “blind” high‐grade gold lodes along strike and down‐plunge from known mineralisation.