Public Company News

Myanmar Metals has updated its mineral resource estimate for the Bawdwin polymetallic deposit in central Myanmar. The new resource is 82 million tonnes grading 4.7% lead, 2.4% zinc, 0.2% copper and 119g/t silver. The company will use the resource estimate to complete an updated scoping study for the project. Myanmar recently reported it will exercise its USD$14m option over the Bawdwin project to secure its 85% stake.

Lithium Australia has announced a new discovery of lithium mineralisation, in spodumene bearing pegmatites at the Medcalf prospect, within its prospective looking Lake Johnston project, 460km east of Perth in W.A. Rock chip samples up to 7.15% lithium oxide were returned from a series of outcrops, covering an area of 250m wide over 500m of strike. The company is now planning follow-up mapping, sampling and soils programs.

ASX-listed MGC Pharmaceuticals’ proposed medical marijuana facility in Malta looks set to go ahead after landmark laws legalising medicinal cannabis were passed by the Southern European nation’s Parliament. MGC is now on the verge of official approval for its 4,000 square metre facility that it aims to use to launch into the rapidly expanding EU medical marijuana market.

DroneShield’s suite of drone-combatting products have been given the green light by an independent US laboratory to protect US airports from potentially lethal aerial threats posed by incoming aerial drones. The company says its drone detection systems were deemed compatible with US aviation and airport communication and navigation systems by leading North American radiofrequency testing facility, 360RF.

St George has announced a new intersection of massive nickel sulphides at its Mt Alexander project, near Leonora in W.A. The 6.25 metre drilling intercept from 67.2m down-hole contained an impressive higher grade zone of 3.34m @ 5.5% nickel and 1.7% copper using XRF analyses. The result, which extends the known mineralisation, successfully targeted an off-hole electromagnetic anomaly that was not detected at surface.

Auroch Minerals has announced that it has generated 17 interesting looking base metal and gold exploration targets by reinterpreting old geophysics data at its Bonaventura project on Kangaroo Island, southwest of Adelaide. Three priority, high grade zinc targets will undergo surface geophysics ahead of the drilling programs with the new targets broadly coinciding with recent high-grade surface sampling.

ASX-listed Connected IO is set to roll out its wireless, modem-like devices in Australia and New Zealand as part of a deal with Internet of things distributor M2M Connectivity. The inaugural shipment paves the way for local product trials ahead of a potential roll out in the two countries leveraging M2M’s existing relationships in the telecommunications and electronics industries.

New geophysical work by Auroch Minerals has identified potential base metal horizons striking over tens of kms at its new Arden project in South Australia. The encouraging results have prompted Auroch to fly a high resolution aeromagnetic survey to sharpen target definition ahead of a maiden drill program in the September quarter. Samples taken from old workings went 7% zinc and 10% copper.

BlackEarth has reported very encouraging graphite assays from its maiden drill program at the Maniry project in Madagascar. Results up to 36.7m @ 8.8% total graphitic carbon from the Razafy prospect attest to the high grade nature of the ore deposit. The program outlined continuous graphitic lenses 900 metres long and up to 50m thick from surface. Testing is underway to determine the quality of the product.

Southern Gold’s decision to swoop on a number of abandoned gold mines in South Korea in 2016 is paying off handsomely, with grab samples from historically blasted rock at the old Kochang mine returning up to 17.4 g/t gold. Southern’s partner in the project estimates that the broken rock could be processed for as little as $US60/tonne and yield a profit of around $US750/ounce.

Middle Island Resources is about to lock in an option agreement over the sale of its Reo gold project in West Africa on significantly improved terms that will give it an immediate 8% stake in a Canadian gold explorer worth A$675k and A$200k in cash. If the option is exercised, Middle Island will bank a further A$200k in cash that no doubt will come in handy for the company's exploration activities in W.A

Emu NL has announced the discovery of a new gold target at its Jotahues project, within the strongly mineralised Maricunga precious metal belt in Chile. A recent soil geochemical sampling program at the Peon 4 prospect showed a 600m wide and 1.2km long anomalous zone of coincident gold, silver, copper, mercury and lead assays, which can be typical fingerprints for an epithermal gold system.