Public Company News

American West Metals has unveiled bonanza copper grades at its Storm project in Canada with a 0.3m intercept at a whopping 42.8 per cent copper from 67m, in addition to identifying a new zone of mineralisation. The impressive hit was contained within 46m going 2.2 per cent from 64m, including 15.6m grading 4.2 per cent from 65m.

Lycaon Resources says it has intersected more than 13m of visual nickel-copper sulphides from 364m after plunging a maiden diamond drillhole into its Bow River project near Argyle in Western Australia. The company says it signals the potential for a deep and prolific economic accumulation. A second hole is planned to test the keel position of the ultramafic intrusive, where massive sulphide accumulations could exist.

Lithium Universe is on the ground at its Apollo project in Canada’s James Bay, armed with a helicopter and a swag of targets generated by artificial intelligence – less than a month after re-listing on the ASX. The company has used a combination of satellite imagery, geophysics and fieldwork ahead of testing a regional faulted greenstone belt running through Apollo to Winsome Resources’ Adina project.

GreenTech Metals has confirmed spodumene as the dominant lithium mineral in a single rock-chip sample from its Osborne joint venture ground following x-ray diffraction (XRD) mineral characterisation analysis. Previous chemical analysis had revealed the sample contained a healthy 3.6 per cent lithium oxide, prompting management to confirm its host mineral. Spodumene is the most common host mineral in hard-rock lithium deposits.

Perth-based explorer Emu NL has kicked off its maiden drilling campaign at its 100 per cent-owned Condingup clay-hosted rare earths project, near Esperance on Western Australia’s scenic south coast. The 3000m air-core program will test rare earths enrichment within clay traps imaged by passive seismic, adjacent to and overlying the fertile Booanya granite, which the company says may have leached its pay into the clays.

An induced-polarisation survey at Strickland Metals’ Great Western project has thrown up a bonzer drill target for the company, with a high-chargeability anomaly centred over coincident gravity, magnetic and geochemical anomalies. Management believes its survey confirms Great Western as a compelling drill target that potentially represents a large-scale high-grade orogenic gold mineralised system at the site that sits 85km north-east of Wiluna.

A significant increase in recycling division sales has doubled Lithium Australia’s annual revenue in the past financial year to $5.5 million, up from $2.5 million during the previous reporting period. Associated sales costs were also cut by $600,000 down to $4 million, resulting in a gross profit of $1.5 million for the year compared to a gross loss last year of $1.7 million.

Si6 Metals has unveiled plans to kick off a 10,000m drilling program next month at three prospects within its flagship Maibele nickel sulphide deposit in Botswana, with a mineral resource upgrade looming. Management says mineralisation may extend along strike and at depth, allowing its inferred resource estimate of 2.38 million tonnes at 0.72 per cent nickel and 0.21 per cent copper to grow.

Askari Metals has highlighted three significant mineralised corridors of anomalous lithium across a strike length of 4.6km following a successful sampling program at its Hillside project in Western Australia’s Pilbara region. The company says a total of 216 rock samples were collected during two separate phases of work, with peak results of 350 parts per million lithium and 170ppm lithium.

ASX-listed Horizon Minerals has its eyes on a maiden resource for its Pinner prospect near Kalgoorlie after revealing positive results from an infill drilling program at its Greater Boorara-Cannon gold project. The company completed 26 holes of both air-core (AC) and reverse-circulation (RC) drilling through 1259m across its Pinder and Monument prospects to support its assessment of small-scale open-cut mining.

Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company’s positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.

Horizon Minerals has moved to monetise its non-core assets after entering into a binding option and sale deed with Dundas Minerals for the former’s Baden Powell/Scotia and Windanya gold projects near Kalgoorlie. The option covers all mineral rights in 16 prospecting licenses, two mining leases and one mining lease application, across 3230 hectares about 45km north of Kalgoorlie.