Public Company News

Lithium Australia will focus on ramping up revenues from its Envirostream battery recycling plant in Melbourne whilst implementing targeted austerity measures to preserve as much of its $3.3m cash balance as it can throughout the global COVID-19 crisis. The company also said it is expecting Soluna Australia to generate revenues from battery sales during the current quarter whilst exploration and technology development expenditures are deferred.

Impact Minerals has been awarded a $75,000 grant from the New South Wales Government in a nod to the company's technical accomplishments at its Broken Hill project. The windfall was awarded by the New Frontiers Cooperative Drilling grants programme and Impact will use the money to explore its NSW play for nickel-copper-platinum group metal deposits.

With the world crying out for non-fossil fuels and the uranium supply and demand curves predicted to cross over soon, Deep Yellow is sitting on a veritable powerhouse of uranium assets in Namibia that are moving rapidly towards being production ready ahead of an expected uranium price hike. In recent drilling at the Tumas 3 deposit, 85% of drill holes returned a result greater than 100ppm eU3O8 over 1m.

ASX-listed St George Mining’s latest geophysical program has identified potentially game changing new areas at depth along the Cathedrals Belt, some of which are untested for nickel-copper-cobalt-PGM mineralisation. The surveys were conducted to give the company an insight into the geological structure to depths of more than 5km. The surveys lit up multiple areas of interest that may either play host to nickel-copper sulphide mineralisation or show where faults are hiding.

Anglo Australian Resources has managed to get a drilling program going at its Mandilla project near Kalgoorlie in WA as many mining and exploration companies come to terms with operational restrictions as a result of COVID-19. The company has started on a program of three diamond drill “tails” that will test the extents of gold mineralisation at Mandilla East to 200m. It will also drill 27 RC holes at the project.

Venus Metals has completed a heliborne EM survey over its Bellchambers gold project east of Sandstone in WA. The company has zeroed in on ten new high priority targets that are sitting on the Western Ridge ‐ Mickey Well gold mineralised trend. It has identified 25 new targets in total at Bellchambers as a result of a recently completed “Xcite” airborne electromagnetic survey.

Novo Resources is continuing to execute on its strategy of picking up nuggety gold projects and has increased its presence in the goldfields of Victoria, famed for its long and rich mining history. Novo has entered into a deal that could see it land up to 75% of GBM Resources’ Malmsbury gold project and just over 4% of the ASX-listed company.

ASX-listed oiler, 88 Energy, has logged multiple hydrocarbon shows over several prospective oil zones whilst drilling its highly anticipated “Charlie-1” oil appraisal well on Alaska’s oil-rich North Slope. The well has now reached total depth and the company said its hydrocarbon zones are looking remarkably like the oil zones identified in a nearby offset well. With drilling operations now complete, wireline logging is underway.

After a year or two of scientific vectoring in on a nickel ore body in the famed Fraser Ranges, things are hotting up now for ASX-listed Legend Mining after it hit what may well be pay dirt in its latest drill campaign at the Rockford project. The company said this week it had hit an impressive, combined 42 metres worth of nickel and copper sulphides intersected at the Mawson prospect.

Lindian Resources’ high-grade conglomerate-hosted bauxite deposit at its Gaoual project in Guinea continues to bulk up, with the company confirming it has extended the Bouba plateau one kilometre to the north. Lindian has also verified the presence of conglomerate bauxite at Bouba South, which is currently sized at half a kilometre by 2.5km. The northern extension of Bouba is 4m thick Bouba South has an average width of 5m, both starting from the surface.

Classic Minerals managed to squeeze in a few priority RC drill holes at its Kat Gap project near Southern Cross in WA before being impeded by restrictions arising from coronavirus. New results show that gold mineralisation at Kat Gap is still open in all directions and very high grade with latest drill numbers showing 3m grading 62.10g/t gold from 36m, including a single metre grading a whopping 181g/t gold.

Troy Resources has recorded a three-fold increase in mineral reserves at the company’s Hicks-4 deposit that sits about 2km away from Troy’s operating Karouni gold mine in Guyana, South America. The company has also commenced trial mining at the nearby Ohio Creek discovery, just one of its regional deposits that have proximity to its existing plant. Troy said its operations remain unaffected by the COVID-19 pandemic.