Public Company News

Latitude 66 will sell its Sylvania gold project in WA’s Pilbara region to gold producer Capricorn Metals for $1.5m worth of Capricorn shares, potentially two or more $750,000-milestone payments and a 1% royalty. The deal is designed to help Latitude 66 fund its promising Finnish gold-cobalt project by unlocking value from what it says is a “non-core” asset.

Aurumin is set to unleash the drill-bit again to try to replicate a previous stellar 18m drill hit grading 25.8g/t gold at its Central Sandstone project in WA about 520km northeast of Perth. The company plans to target extensional and infill drilling at its Shillington and Plum Pudding deposits and is hoping to breach the million-ounce milestone at the project soon.

Terrain Minerals has kicked-off a ground-based EM survey to better define four very curious, potentially nickel-copper conductors at its Lort River project that sits in the same geological belt as IGO’s huge nickel-copper discovery in the renowned Albany-Fraser Belt. Terrain believes a geophysical “eye” feature identified at Lort River shares strong similarities with IGO’s “eye” that was identified prior to its discovery of the large producing Nova-Bollinger operation in the region in 2012.

Kalgoorlie Gold Mining has picked up a key tenement that joins its western landholdings at its Pinjin gold project near Kalgoorlie with its eastern tenements, creating one contiguous holding. It will pay fellow ASX-listed company Solstice Minerals 2.8 million of its shares, with a deemed value of $70,000 for the tenement and Solstice will also pick up a 1 per cent royalty.

This week’s Bulls N’ Bears Runner of the Week is … Aldoro Resources. The Namibian explorer stacked on 201% after jagging continuous niobium from a trench chip-sampling program at its Kameelburg project. Other runners include Macro Metals which secured $4 million from an earthmoving company that joined its share register and began drilling for manganese in WA’s Pilbara region, while other movers and shakers this week were Invion and Petratherm.

Reach Resources has uncovered more thick rare earth hits at its 100 per cent-owned Wabli Creek project in WA’s Gascoyne region, hitting an impressive 76m grading 1677 parts per million total rare earth oxides. Assays from the remaining 22 drill-holes returned consistent zones of the valuable magnet rare earth oxides, returning up to 1809ppm with the potential for additional high-grade zones.

Novo Resources surged 60% to touch 14.5c in intraday trading after the market got a good look at the value of its shareholding in unlisted Canadian miner San Cristobal. Novo offloaded 38% of its holding in San Cristobal for $11.5m, valuing the remainder of its shareholding in the private company at $19m. Novo now has $16.7m in the bank.

GreenTech Metals has completed planning for up to 4000m of diamond drilling for its second phase program at the company’s Whundo volcanogenic massive sulphide–style copper-zinc project in WA’s West Pilbara. The campaign seeks to confirm the potential for and likely scale of one or more base metals resources lurking below the shallow historic Whundo and Ayshia open-pits and within the 2km-long zone separating them.

Octava Minerals has spotted visible signs of the critical mineral, antimony, in drill holes at the company’s Yallalong project that sits in the Mid West region of WA, with assays due early next year. Drilling is nearly complete at the company’s Discovery prospect with the rig then set to move to its Central antimony prospect for a maiden nine-hole program.