Public Company News

Calidus Resources has continued its hit list of impressive drilling results whilst strengthening the open-pit credentials of its rapidly developing Warrawoona gold project in WA’s East Pilbara region. The company is also continuing to de-risk the million ounce-plus ore resource, with recent results including an impressive 35m drill hit grading 2.84g/t gold from surface and 23m grading 2.55g/t from 15m downhole.

Aspiring rare earths metals producer, Greenland Minerals, is nearing completion of a major milestone in its ongoing technical development of the giant Kvanefjeld rare earths project in southern Greenland. The culmination of work on the company’s environmental impact assessment is looming with Greenland’s Environmental Agency for Mineral Resource Activities providing a pathway for the Perth company to finalise the approval.

PolarX has hit it in one with a very long diamond hole drilled into an identified IP anomaly producing 400m of visible sulphides within porphyry-style mineralised vein sets and associated alteration at the Mars porphyry copper-gold target in central Alaska, USA. Previous surface sampling at Mars recorded anomalous gold, copper and molybdenum and the company is now eagerly awaiting assays to confirm the tenor of the mineralisation.

ASX-listed, Delecta Ltd has picked up a couple of exciting new multi-minerals plays in the USA. The company will acquire 100% of American Vanadium’s Copper Ridge project in Utah and three uranium-vanadium projects, also in Utah and in Colorado. The Flagship Copper Ridge project has immediate walk-up targets with enticing historical results such as an impressive 17.01% copper rock chip sample.

Tyranna Resources has entered into a term sheet to divest its remaining South Australian gold assets, in a $1m sale of the 319,000-ounce Jumbuck gold project to Syngas. The company will now concentrate on its advanced Eureka gold project near Kalgoorlie in WA, which has a higher grade than the SA assets, is located on granted mining leases with excellent supporting infrastructure, including options for toll treating of ores nearby.

St George Mining has revealed that further massive sulphide mineralisation has been observed during diamond drilling at its Investigators East prospect, located within the company’s Mt Alexander project, near Leonora in WA. The company intersected an 18m-wide ultramafic unit that contained 7m of visible nickel-copper sulphides from 91.9m down-hole with XRF readings of 6.5% nickel and 2.3% copper over a 0.91m section.

Sophisticated investors have agreed to sink $40m into ASX-listed Geopacific Resources to help develop its Woodlark Gold Project in PNG. Ordinary shareholders will also get the chance to stock up at the same price to the tune of a further $5m with a $30k limit per subscriber. The 1-million-ounce reserve Woodlark gold project looks like generating a pre-tax net cash flow of at least $754m before upside.

Spectrum Metals has intersected further high-grade visible gold mineralisation from deep drilling at its Penny North discovery near Youanmi in WA. The company will now move the rig to complete exploratory drilling at the Magenta prospect, about 1.5km to the north. Spectrum is also compiling a maiden resource for Penny North, undertaking site-based environmental studies and preparing geophysical surveys to help rank existing gold targets.

Venus Metals has commenced a high-powered, EM geophysical survey at its Vidure copper-nickel prospect, located near the ever-popular Youanmi region in WA, where historical drilling by WMC and BHP outlined anomalous base metal and silver mineralisation. The survey will penetrate up to 500m, where the company previously interpreted poorly constrained, down-dip and down-plunge extensions to the defined mineralisation.

Neometals is one step closer to a commercial-scale lithium battery recycling plant after it executed a binding memorandum of understanding agreement with mammoth German engineering firm, SMS Group. The companies will work jointly to assess the next phase of development test work on Neometals’ proprietary battery recycling technology. The new partners are proposing to form a 50/50 JV, following due diligence with a view to constructing a demonstration plant.

Azumah Resources’ Directors have advised their shareholders to take absolutely no action in relation to an unsolicited takeover bid saying that suitor, Ibaera Capital, has paid a lot more for Azumah stock in the past. The company said that shareholders who accept Ibaera’s offer may miss out on any revaluation of its Wa gold project in Ghana after a feasibility study has been completed early next year.

Hammer Metals has kicked off a 15,000m aircore drilling campaign at its Bronzewing South gold project in the prolific Yandal gold province in Western Australia. The drill campaign will test four targets across the Orelia trend, located along strike of the historical Cockburn and Lotus pits, currently held by Echo Resources. The Cockburn and Lotus pits have a solid combined resource of 1.1 million ounces of gold.