Public Company News

After a successful $4 million capital raise, Reach Resources is set to test its Morrissey Hill lithium project with a maiden drilling program to target areas that returned high-grade lithium from rock chips. Management says its 4500m campaign will be split between reverse-circulation and diamond drilling at its project in Western Australia’s emerging Gascoyne region.

Quantum Graphite has acquired the complete set of flake graphite purification technology from The Sunlands Energy Company, providing what it says is a commercialisation path for products from its Uley flake graphite mineral deposits in South Australia, to advanced industrial manufacturers in North Asia and Europe. The company plans to deliver superior natural flake products across all applications.

Perth-based 88 Energy has bolstered its 100 per cent-owned Peregrine oil project in Alaska, adding two new reservoir intervals to its Harrier prospect, with 180.1 million barrels of oil as a best-case estimate. Basin modelling has also revealed that Harrier sits in an area of good reservoir quality and will be tested by the drillbit as a priority.

Legend Mining believes it is getting closer to unearthing a “Nova-style” nickel-copper deposit after finding encouraging signs in its latest diamond drillhole at its Octagonal prospect within Western Australia’s rugged Fraser Range. Management says it identified visual sulphides at regular intervals between 848m and 1661m in the hole which ran to a depth of 1700m.

Higher zircon grades and increasing demand for heavy mineral concentrate (HMC) has had Image Resources ringing its till, with a bottom-line boost of nearly $12.5 million revealed in its quarterly report today. The company also increased HMC production quarter on quarter by six per cent at its Boonanarring minerals sands project near the Western Australian town of Gingin.

Infinity Lithium subsidiary Extremadura New Energies has entered into a joint venture with Spanish energy firm Enalter to potentially deliver low-cost green energy to its San José lithium project in Spain. The creation of the “Extremadura Energy H2 Hub (EEHH)” allows a first right to secure a long-term green energy power purchase agreement for the San Jose project.

Lindian Resources has hailed its Kangankunde rare earths project in Malawi as “one of the greatest in the world” after recording a massive 853.6m hit at 2.73 per cent TREO from 52m. Two deep diamond drillholes were sunk to 980m and one returned 156m at 3.61 per cent TREO from 124m and a 56m hit grading 3.83 per cent TREO from 289.1m.

Galan Lithium has revealed details of a deal which it says has given it exclusive ownership of the vast Catalina tenements at its Hombre Muerto West lithium project within South America’s “Lithium Triangle”. Management says it has secured ownership of the Argentinian ground that has been at the centre of a long-standing dispute by issuing 9.76 million shares to the private owner.

Everest Metals Corporation has kicked off a second phase of drilling at its Mt Edon project in Western Australia’s Mid West region as it looks to follow up on positive lithium and rubidium results from its previous campaign. The company plans to sink up to 10 reverse-circulation drillholes to test pegmatite targets highlighted from a deep ground penetration radar geophysical survey carried out in April.

Triangle Energy will ramp up its oil and gas chase after receiving $15 million from Pilot Energy for the sale of its share in the Cliff Head oilfield and carbon reinjection joint venture in waters off the Dongara coastline in Western Australia’s Mid West. The consideration will be paid in three stages and is expected to be completed early next year.

Surefire Resources is a step closer to developing its Victory Bore vanadium play in Western Australia into a significant critical minerals project, with the positive completion of a hydrogeological assessment. The company is planning an open-pit mine development with a proposed 4 million tonnes per annum mine rate, in addition to onsite beneficiation and processing.

Cancer fighter Chimeric Therapeutics has expanded its patent protection in Japan for certain cell therapy clinical and preclinical stage applications using chlorotoxin, which is derived from deathstalker scorpion venom. Management says the patents will expand the company’s intellectual property portfolio and underpin important assets in its development pipeline. Japan has recently been dubbed the world’s third-biggest pharmaceutical market.