Public Company News

A high-resolution aeromagnetic survey has identified high-priority drill targets for clay-hosted and fresh rock rare earths mineralisation at Venus Metals’ wholly-owned Marvel Loch East project in WA. Hard rock targets include a 25km long magnetic trend and a 3km zoned magnetic anomaly where previous rock chips up to 4365ppm total rare earths were discovered.

Reach Resources has identified four major targets for lithium-caesium-tantalum pegmatites within its Critical Elements project in WA’s Gascoyne region after independent analysis from geological experts. The initial phase of the assessment by RSC Consultants focused on Reach’s Morrissey Hill, Camel Hill and Wabli Creek projects that form part of the greater Critical Elements operation.

Everest Metals has achieved exceptional gold recoveries from independent gravity separation test work from its Revere gold project 90km northeast of Meekatharra. Coarse gold hand-picked from the 305 g/t gold bulk quartz vein sample accounted for 47 per cent of the recovered gold and gravity separation recovered 97 per cent of the remaining gold. The company is now planning further bulk testing and resource drilling.

Asra Minerals’ Mt Stirling project near Leonora in WA’s Goldfields has thrown up traces of highly sought-after “heavy” rare earths in addition to lucrative scandium that stretches from only 2m below surface to the bottom of 40m drill holes. Headline drill numbers include 48m at 90 parts per million scandium oxide from 3m and 7m at 669ppm total rare earths and yttrium oxide from 5m.

Xanadu Mines has wrapped up the next two phases of its strategic partnership with Chinese copper goliath Zijin Mining, giving it access to funding for the exploration and evaluation of its Kharmagtai copper-gold project all the way up to a decision to mine. The deal will see US$35 million invested directly into the project and a 50-50 joint venture created between the parties.

88 Energy has spudded its Hickory-1 well at the company’s Phoenix project in Alaska, testing a sweet spot of seismic anomalies in a region that has enjoyed recent drilling success. The Hickory-1 well is permitted to a total depth 3.81 km and designed to appraise up to six conventional oil reservoir targets with a net entitlement prospective resource of 647 mean million barrels of oil.

ASX and Frankfurt-listed Altech Batteries has received A$5.12 million as the first of two deferred instalment payments from Frankfurt-listed Altech Advanced Materials for the purchase of 25 per cent of Aletch Batteries subsidiary Altech Industries Germany GmbH. The final instalment of 1.583 million euros or approximately A$2.5 million is payable in December 2023 completing the deal done in December 2020.

ASX-listed Classic Minerals is making steady progress on its ambitions to become a gold producer and has begun installing a processing plant on foundations at the company’s flagship Kat Gap project in the WA Goldfields. The heaviest parts of the Australian-made Gekko plant are being secured to foundations and work is beginning on ancillary structures, electrical and plumbing scopes.

Meeka Metals’ latest diamond drilling has confirmed high-grade gold at its St Anne’s deposit as part of the company’s flagship Murchison gold project. Headline results include 12.8m at 5.21 grams per tonne gold from 54.3m. The company says it remains on target to release a maiden mineral resource for the deposit later this month with further drilling also to kick off in coming weeks.

Aurum Resources has commenced an induced polarisation gradient array geophysical survey at its Penny South project that is planned to cover an area of 5.2 square kilometres. The main target for the IP survey is ultramafic schist units that Aurum believes are possibly more extensive than previously interpreted and may host nickel-copper mineralisation. The Penny South project is located 126 kms south-east of Mt Magnet in WA.

TSX-listed Novo Resources has highlighted a number of high-priority targets at its Becher gold project in the Pilbara after receiving the results from the company’s 2022 air-core drill campaign at the operation. Becher forms part of Novo’s 10,500 square kilometre Pilbara tenement package and sits within its greater Egina gold camp and between De Grey Mining’s Mallina and Hemi gold projects.

Chimeric Therapeutics has successfully secured the manufacturing of a key tool for cell therapy targeting gastrointestinal and neuroendocrine tumours as the company gets set for a clinical trial. Management says by securing the supply of “viral vectors” it has successfully navigated one of the most critical and challenging components of the manufacture of its “CAR T” cell therapy Chimeric is now focused on advancing its treatment to a first phase clinical trial.