Public Company News

Budding silver miner Adriatic Metals has drawn down its second $30m tranche, along with accessing an additional $22.5m from a $142.5m debt package to steer development of its high-grade Vares silver mine in Bosnia and Herzegovina. It is all systems go as the company passes the halfway mark of construction with production of the first concentrate slated for the third quarter of 2023.

Gold explorer Godolphin Resources and its joint venture partner Orange Minerals have announced a maiden ore resource for the Calarie project in central New South Wales. The maiden resource contains 870,000 tonnes of mineralisation, with some 50,796 ounces of gold at an average grade of 1.83 grams per tonne and a cut-off grade of 0.3 g/t.

Construction of Classic Minerals’ gold mine at Kat Gap in WA is moving closer to becoming a reality with the tailing storage facility 45 per cent complete and the Turkey’s Nest pipeline edging towards completion. The company says tailings facility liners will be installed in early March. Kat Gap boasts a 2.96 g/t gold head grade and Classic’s Gecko gravity processing plant is expected to recover over 73 per cent of the gold at low cost.

Minerals explorer Surefire Resources NL’s optimism about its massive vanadium resource in WA’s Mid West has been boosted by a detailed study that concludes its Victory Bore-Unaly Hill project can provide clean vanadium concentrate. Surefire’s next step includes further investigation of its resource to determine its suitability for the burgeoning vanadium redox flow batteries sector for clean energy storage.

Everest Metals has signed a binding joint venture agreement with Stelar Metals covering all of its large Broken Hill NSW projects and giving Stelar a 90 per cent interest. Everest Metals will receive $250,000 cash and a similar value in Stelar shares upfront. Milestone payments add a further $500,000 in cash or shares. The company says it retains a 10 per cent free-carried interest.

A strategic land grab by Reach Resources has resulted in the company building a dominant presence in the Gascoyne region after picking up the Morrissey Hill lithium project, the Camel Hill rare earths project in addition to the White Castles manganese project. The three projects cover a total of four tenements and build on the company’s two established operations with the Skyline and Critical Elements projects in the region.

The gentle hum of the RC drill rig can be heard at Auric Mining’s Chalice West project near Norseman. Auric is plumbing the depths of its prime goldfields tenure to seek the source of significant gold, nickel and rare earths anomalism. The rig will also be wheeled to the company’s Miitel South prospect where a compelling gold target lies beneath a smattering of historical alluvial workings.

ASX-listed Aurum Resources is another step closer to launching exploration on its flagship Ryan’s Find gold project, north-east of Southern Cross in WA. The company says once it receives heritage clearance, which has now been scheduled it will immediately kick off an air-core drilling campaign. A gradient array induced polarisation survey is also planned for its Penny South gold project.

Ora Banda Mining is on track to deliver an updated mineral resource estimate at its Riverina gold system near Kalgoorlie this month after positive results from phase 1 drilling at the site. Assay highlights from exploration at the company’s Main Lode East prospect showed some impressive grades including a 2m hit at 49.8 grams per tonne gold from 163m.

West Perth-based gold explorer DiscovEx Resources says assay results from its air-core drilling at the company’s Spartan prospect at its Edjudina project in WA’s Eastern Goldfields have confirmed bedrock gold mineralisation, generating three high-priority drill targets. The company believes it has also discovered significant gold within transported overburden and now plans to determine the connection between the bedrock and transported gold.

Perth-based company and USA focused explorer American West Metals has posted a maiden resource for its multi-commodity base metal West Desert deposit in Utah which the company says continues to illust

WA-focused explorer Infinity Mining has been granted a five-year extension for an exploration licence that constitutes the largest component of its Hillside gold-copper-lithium project that lies over the Coongan Greenstone Belt in the Pilbara. Hillside covers almost 400 square kilometres and is located roughly 50km south-west of Marble Bar and 185km south-east of Port Hedland.