Public Company News

St George Mining has defined a promising 2.1km-diameter high-density circular intrusive at its Destiny project in WA’s Eastern Goldfields via a follow-up gravity survey designed to identify potential rare earths-rich carbonatite targets. The company says the geophysical characteristics of the gravity anomaly are consistent with a potentially-mineralised intrusive body that could be similar to other local structures known to host rare earths and related mineral suites.

Surging uranium prices have prompted Toro Energy to release an updated scoping study into its Lake Maitland project in Western Australia, with the new data showing a bulging EBITDA of more than $2.3 billion during its 17.5-year mine life. The latest figures assume prices of US$85 (AU$128.50) per pound of uranium oxide and US$5.67 (AU$8.57) per pound of vanadium oxide.

Meeka Metals has invested in a total camp and infrastructure package to accelerate the development of its flagship Murchison gold project in Western Australia – and at just 20 per cent of the cost predicted in its recent definitive feasibility study. The shopping cart includes camp accommodation, ablution blocks and offices for the Andy Well and Turnberry mining centres and a 110-kilolitre fuel storage tank.

Buru Energy’s Ungani oilfield is set for a new lease on life following the company’s significant farm-in agreement with Sabre Energy that is designed to spearhead a production restart and continued exploration at the site in Western Australia’s Canning Basin. Sabre will earn a 70 per cent interest in the Ungani oilfield and control of the operations for a $6 million outlay.

Aurum Resources has delivered yet another suite of lengthy gold hits from its burgeoning Boundiali project in West Africa’s Côte d'Ivoire, this time with a headline act showing 69m at 1.05 grams per tonne gold from 195m including 12m at 2.28g/t. Another hole in the ongoing campaign bored through 10m at 1.97g/t gold from 131m including 2m at 7.37g/t.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the more curious drill intersections revealed on the ASX, including Culpeo Minerals’ biggest-ever run of 298m at 0.98 per cent copper equivalent from 90m downhole. We also take a close look at other notable drill hits last week from Wildcat Resources, Spartan Resources and Terra Metals.

This week’s Bulls N’ Bears Runner of the Week is … MRG Metals. Its shares jumped 400 per cent on the back of it signing a binding joint venture agreement for its Corridor Sands project in Mozambique to see it join fellow movers and shakers NeuRizer, Reach Resources and Pearl Gull Iron.

The Federal Government has paved the way for Triangle Energy Global to complete the $15 million sale of its Cliff Head oil assets off the WA coastline after approving the site for permanent offshore carbon storage. The approval confirmed today by Resources Minister Madeleine King will allow Pilot Energy to acquire the project, while Triangle will set a stronger focus on its Perth Basin targets.

Ardea Resources’ high-tech mineral processing technique has boosted the nickel-cobalt inventory at its Goongarrie Hub project near Kalgoorlie in Western Australia and earned it a healthy Federal Government grant of $1.1 million. It comes less than two months after a giant Japanese consortium committed to backing the development of the project described by the Federal Government as “globally significant”.

Lithium Universe has cleared another key component in its plans to develop the proposed Bécancour lithium refinery in Canada after the successful completion of two environmental field studies at the site. In February, the company secured a prime location for its proposed refinery after executing an option agreement to purchase a commercial property in the province of Quebec.

Aurum Resources is building its bank balance ahead of a beefed-up exploration blitz across its Boundiali gold project in Côte d’Ivoire, with a maiden JORC resource expected before the year’s end. Management has received firm commitments from a $17 million two-tranche placement and is also offering eligible shareholders a shot at a $3 million share purchase plan in a bid to pocket about $20 million.

GreenTech Metals is putting the finishing touches on a new 2200m reverse-circulation drilling plan aimed at lifting the resource numbers at its Whundo volcanogenic massive sulphide deposit in Western Australia’s West Pilbara region. The move follows the company’s detailed review of the old Whundo and Ayshia deposits and other spatially or geologically-related targets identified between the two zones, primarily from fixed-loop electromagnetic geophysics