Public Company News

A world-first audio-frequency-magnetic survey flown by Estrella Resources over its flagship Carr Boyd nickel-copper project near Kalgoorlie in Western Australia’s Goldfields region has zeroed-in on nickel-sulphide drill targets to 600m depth. The company says the helicopter-borne survey has given it a vastly better understanding of the project’s geology and includes “industry-leading vision” of its highly-prospective host rocks.

This week’s Bulls N’ Bears profiled ASX runner is… Kula Gold. Its share price jumped more than 184 per cent to join other impressive companies including MetalsTech, Firebrick Pharma and Cooper Metals.

After completing a massive infill and extension campaign at its Kharmagtai copper-gold project in Mongolia, Xanadu Mines has shifted its focus to new discoveries outside the site’s current mineral resource. The company is now operating three diamond drill rigs at Kharmagtai, with four deep holes planned to target mineralisation below its biggest deposit identified to date at White Hill.

Infinity Mining has stretched its Pilbara lithium tenure to a whopping 795sq km after securing a contiguous fourth exploration licence, adding to its strategically-located ground 30km west of Marble Bar in Western Australia. And in addition to lithium, the company says its Panorama project area is also prospective for intrusive-related nickel-copper, shear and conglomerate-hosted gold systems and volcanic-hosted massive sulphide base-metal deposits.

Galan Lithium has secured a binding offtake agreement with mining giant Glencore for the supply of up to 100 per cent of lithium products from phase-one production at its Hombre Muerto West project in Argentina. As a sweetener to the deal, Glencore has offered to provide a secured financing prepayment facility for US$70 million (AU$107 million) up to US$100 million (AU$154 million), subject to conditions.

A $5 million placement has helped Buru Energy advance preparations for its mission to appraise its 100 per cent-owned wet gas and condensate Rafael discovery in Western Australia’s Canning Basin after the end of the Kimberley wet season mid-next year. It has now ordered long-lead items, advanced detailed well design and discussions with potential rig providers and has 3D seismic data processing on schedule.

Kalgoorlie Gold Mining has launched an earlier-than-expected RC drill-testing program at its Pinjin project in Western Australia’s Laverton Tectonic Zone in a move designed to ramp up its search for shallow, high-grade gold. Pouncing on the chance to get a drill rig this week, the company’s program at its Providence deposit has been crafted to follow up last month’s gold drill hits.

Aurumin is sharpening its focus on its Sandstone gold project in WA after selling its Mt Dimer ground in a strategic decision that has edged it closer to wiping out an overhanging $6.4 million debt. It will pocket $3 million from Beacon Minerals for the sale of Mt Dimer, leaving just $1.4 million to pay to remove a convertible note relating to its Sandstone acquisition.

Infinity Lithium has taken another step forward with its proposed San José lithium project in Spain after the Cáceres Local Government deemed the operation compatible with local urban legislative requirements. The project, near Cáceres in the Extremadura region, boasts one of Europe's leading JORC-compliant hard-rock lithium deposits, with a total indicated and inferred resource base of 111 million tonnes at 0.61 per cent lithium oxide.

First-pass reverse-circulation drilling by Novo Resources at its Nunyerry North deposit in Western Australia’s Pilbara region – near De Grey Mining’s 11.5-million-ounce Hemi gold play – has turned-up drill hits of up to 7.42 grams per tonne gold. The company says results from the program included intersections of 11m at 1.98g/t gold and 4m at 4.15g/t, with follow-up testing plans already in place.

Meeka Metals has tabled a solid set of initial assays from shallow infill drilling at its Turnberry deposit within its flagship Murchison gold project in WA. Broad zones of oxide gold running up to an eye-catching 8.53g/t were unearthed from the first 19 holes, with assays expected soon from the remaining 32 holes, which are largely located around the periphery of the designed open pits.

Reach Resources has mobilised Strike Drilling to start a 9000m phase-two reverse-circulation drill program at its Morrissey Hill lithium project in Western Australia’s Gascoyne region – right next door to the notable Delta Lithium discovery. The campaign is designed to follow up results from previous drilling at the Bonzer prospect where all phase-one drillholes hit pegmatites, with some individual intercepts up to 30m long.