Public Company News

Lithium Universe is stepping closer to launching a definitive feasibility study on its Apollo project in Canada after expediting the engineering design for its 1-million-tonne per year lithium processing hub’s stand-alone concentrator. The plant is designed for an assumed feed grade of 1.1 per cent lithium oxide, with the output expected to be about 140,000 tonnes per annum of spodumene concentrate grading 5.5 per cent.

Aruma Resources has unveiled a swag of potential targets to follow up for gold and polymetallic mineralisation in the latest soil-sampling results from its Saltwater play in Western Australia’s Pilbara region. Sampling across three prospects at the Saltwater project has reaffirmed its potential as being a multi-commodity play for gold and base metals.

Meeka Metals has thrown-up stellar shallow, high-grade gold infill drill hits, including 19m at 8.75 grams per tonne, at its 685,000-ounce Turnberry development project in Western Australia’s Murchison province. With 1.2 million gold ounces already identified at its flagship Murchison gold project, the company is pressing ahead with its submission of development plans before year’s end and updating its grade-control block model.

Terrain Minerals has kicked off a maiden air-core drilling campaign at its Larins Lane base metals-gold-silver prospect to test for what it believes could be a deposit analogous to 29Metals’ hulking Golden Grove operation in Western Australia’s Mid West region. The company plans to drill 145 holes for 2500m in two priority categories on three separate main targets and a handful of unexplained anomalies.

Si6 Metals’ latest batch of drill assays from its Dibete project in Botswana show a hole with a bumper copper grade of 13 per cent, paired with 168g/t silver in a 1m section from 29m. The eye-catching chunk was within a 6.15m section going 7.2 per cent copper and 182g/t silver from 24.85m, including 0.5m at 10.8 per cent copper and 281g/t silver.

Ora Banda Mining has added significant momentum to its drive towards producing 100,000 ounces of gold annually by 2025 after intersecting the first ore from its Riverina underground’s Main Lode, some four weeks ahead of schedule. The company expects to mine a lode grade of 10g/t gold at Riverina as part of its “Drive to 100” campaign.

Aurum Resources is set to take its gold search to a new continent after signing a binding agreement to acquire PlusOr Global, which holds the rights to earn into the Boundiali gold project in Côte d’Ivoire. The project on the southern coast of West Africa covers two contiguous granted exploration permits within Côte d’Ivoire's prospective Boundiali greenstone belt.

Quantum Graphite believes more than doubling its mill throughput up to 1.2 million tonnes a year at its Uley 2 project in South Australia will lead to improved economics, following an independent assessment. The study by Lycopodium Minerals also looks into increasing production at the operation from 55,000 dry metric tonnes of flake graphite up to a maximum of 100,000 dry metric tonnes.

An independent carbon capture and storage study on Buru Energy’s Canning Basin blocks has strengthened the “commercialisation pathway” for it to develop its Rafael conventional gas and condensate discovery. Buru’s subsidiary GeoVault recently found the blocks to be capable of holding significantly more carbon dioxide than Rafael is modelled to produce, supporting the company’s development strategy for the field.

Following several recent divestments, Aurumin has made good its promise to home in on its 946,000-ounce Sandstone gold project in Western Australia’s Mid West region after revealing it had secured three new exploration licences. The move more than doubles the company’s presence in the central project area as it gets closer to eradicating an overhanging $6.4 million debt relating to its Sandstone acquisition last year.

American West Metals has confirmed outstanding grades of 38.2 per cent copper and 30.87 per cent zinc from geochemical sampling at the Tempest prospect that forms part of its greater Storm project in Canada. The results came from surface gossan rocks at the underexplored site, which have been mapped for more than 4km and are about 40km south of copper targets drilled earlier this year.

This week’s Bulls N’ Bears profiled ASX runner is… Chariot Corporation. Its shares doubled this week to join movers including Pure Resources, Sunshine Metals and Roots Sustainable Agricultural Technologies.