Public Company News

Middle Island Resources is selling its Reo gold project in Burkina Faso, West Africa, to Tajiri Resources Corporation after the Vancouver-based company exercised its option to acquire the project. Tajiri has paid the company a final USD$150,000 option extension and exercise fee and will pay Middle Island USD$335,000 in cash and 5 million Tajiri shares, representing an 8% stake in Tajiri, for the project.

Image Resources has mapped out ultra-high-grade heavy mineral sands mineralisation for a further 2km northwards at its Boonanarring mineral sands project near Perth. The company has now completed infill drilling across all proposed mining blocks at the operation, with assay results expected shortly, which should allow a full update of mineral resources and ore reserves for the project in the December quarter of this year.

Strike Energy’s West Erregulla-2 well in Western Australia’s Perth Basin has intersected extended drilling breaks with associated elevated mud gas readings in the target High Cliff sandstone. The company will continue drilling through the remaining High Cliff formation until the well intersects the Holmwood Shale before commencing a full suite of wireline logging tools throughout the High Cliff and Kingia sandstones.

St George Mining has delineated a new occurrence of high-grade nickel-copper sulphide mineralisation in drilling at its Radar prospect near Leonora, WA, which extends the strike of the emerging Cathedrals Belt base metal deposits to 5.5km. The program was targeting chargeable EM anomalies identified from geophysics below the sand cover and defined a wide zone of disseminated and massive sulphides at a depth of 44.2m down-hole.

Smart building materials trailblazer, ClearVue Technologies, is advancing its global expansion plans with the establishment of a Singapore office and the signing of a collaboration agreement with CSME Power Systems. The company’s new subsidiary, ClearVue Asia, will operate in Singapore and Malaysia while the agreement with CSME is expected to fast track its entry into significant government and corporate contracts.

Surefire Resources is poised to commence a 30-hole reverse circulation drilling campaign totalling 3,000 metres at its Victory Bore project near Sandstone, WA, next month, to test seven target areas highlighted by anomalous gold with coincident geophysical anomalism. Previous drilling in the 1990s defined a gold-in-soil anomaly about 4.4 kilometres long and up to 750 metres wide.

Spectrum Metals’ recently completed detailed sub-audio magnetic survey has identified several new targets in the gap zone between the Penny North deposit and the Columbia-Magenta targets of its Penny West gold project near Youanmi, WA. The company is currently increasing its drilling capacity and will test targets generated from the survey over the coming months.

Kairos Minerals has delineated a 4km long gold-in-soil anomaly adjacent to a prospective geological contact at its emerging Croydon project, located near Port Hedland, WA. The anomaly incorporates a coherent, higher-grade core over more than 1km containing greater than 100ppb gold and may represent a conventional, subsurface bedrock gold target, in addition to the well-defined, conglomerate-hosted gold potential of the district.

Australian Potash’s Lake Wells SOP project near Laverton, WA, could churn out annual pre-tax free cash flows of $100 million via the production of 150,000 tonnes of SOP per year according to its much-anticipated definitive feasibility study. Capex for the project has been estimated at $208 million including a $20 million contingency, while pre-tax net present value was estimated at $665 million.

Hawkstone Mining has expanded the Exploration Target for its Big Sandy lithium clay project in Arizona state, US, by 15%, with new mapping and sampling in the Southern Mineralised Zone demonstrating similar geology to ore zones recently drilled further north. The updated Exploration Target now stands at between 280.1 million and 492.6 million tonnes grading from 1,000 ppm lithium to just over 2,000 ppm lithium.

Hot Chili has identified a new conductivity and chargeability anomaly north of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile, from reprocessed geophysical data. The company has also recorded visual chalcopyrite within mineralised porphyry over the entire extent of the first diamond hole in its Phase 2 drilling campaign at Cortadera.

Venus Metals and Rox Resources have revealed that 1m interval drilling assays from their Currans Find North gold discovery near Youanmi, WA, have provided significant upgrades to the initial 4m composite samples tabled earlier this month. New high-grade results included 3m @ 32.58g/t gold from 115m and 4m @ 9.25g/t gold from 46m down-hole, which contained a 2-metre section at 16.05g/t gold from 48m.