Public Company News

Strike Energy is preparing to carry out wireline logging at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia, that flowed gas to surface earlier this month from the Basal Wagina formation. The company will also evaluate the shallower Lesueur Sandstone and Woodada Siltstone formations before casing the well and drilling ahead to intersect the primary target Kingia-High Cliff sand sequence.

Spectrum Metals’ drilling campaign at the Penny West project near Youanmi, WA, has returned its deepest high-grade gold intersection to date, with a spectacular 9m @ 15.9g/t gold from 294m down-hole, incorporating a 6-metre section going 22.5g/t gold from 295m. The company said additional drill rigs would commence work in August and that the latest results indicate gold mineralisation remains open at depth down-plunge.

Troy Resources’ infill, extensional and exploratory drilling programs at the Ohio Creek prospect of its Karouni project in Guyana have returned high-grade hits of up to 5m @ 27.5g/t gold from 62m down-hole. The results to date indicate that a coherent mineralised ore system is present over a strike length of at least 500m, with widths of up to 20m and a vertical depth of 125m.

Aurora Labs is proceeding with the commercialisation of its proprietary MCP 3D printing technology after its RMP1 Beta Printer completed full-size test prints as part of the commissioning process. Advanced discussions are already underway for the potential sale of the RMP1 Beta Printer to one of the company’s industrial partners while interest has been received from several potential customers for its upcoming production machines.

Infinity Lithium has reached a significant milestone after successfully recycling and reusing the potassium sulphate used to leach lithium from the micas sourced from its San José project in Spain. The company expects to ultimately achieve a 90% to 100% recycling rate for the reagent, which will minimise the amount of “fresh” sulphate needing to be added during the production cycle.

Geopacific Resources has revealed a 78% uplift in the estimated pre-tax net cash flows from its Woodlark gold project in PNG, based on gold prices at AUD$2,000 per ounce, compared with the base case scenario of AUD$1,650 per ounce used in last November’s DFS. The fully permitted and proposed low strip ratio open pit operation provides life of mine margins near AUD$1,000 per ounce, with payback in 1.4 years.

Coziron Resources has received further clues directing its gold exploration efforts at the Croydon Top Camp project in WA’s Pilbara region, after receiving a detailed report from a prospector who recovered 203 gold nuggets in the area. Information from this report has been integrated with other geological and geochemical data from Croydon and will be used to identify and prioritise targets for further field programs.

Kalia has restructured its board ahead of regional exploration programs seeking porphyry copper/gold mineralisation on Bougainville Island, with the addition of two resource industry veterans as its directors. Michael Johnston, who will be the company’s Director Corporate Development and Strategy, has extensive experience in PNG and the Asia Pacific and was Placer Dome’s GM of exploration in the early 2000s.

Buru Energy has spudded the Adoxa-1 conventional oil exploration well targeting the potential for multiple stacked reservoirs within the greater Yakka Munga regional structure in the Canning Basin, Western Australia. A success at Adoxa-1 will supplement and enhance the company’s existing reserves and production cashflow from the nearby Ungani Oilfield and potentially unlock several follow-up structures in the area.

Black Rock Mining has significantly improved the project economics of its Mahenge graphite mine in Tanzania, by ramping up the proposed production rate from 250,000 tonnes per annum to 340,000 tonnes per annum at the request of its offtake customers. The company will add a fourth processing module at the operation to increase production of the highly sought-after, world-class premium graphite flake product.

Anglo Australian Resources’ drilling program has intersected gold mineralisation at two prospects within its Koongie Park project near Halls Creek in Western Australia’s Kimberley region. One of the holes at the Bull Dog prospect returned a peak result of 1m @ 11.27g/t gold from 22m down-hole while a hole at the Nicolsons East prospect returned 3m @ 1g/t gold from 23m, including 1m @ 1.49g/t gold from 24m.

ASX-listed mineral sands producer, Image Resources, has increased its EBITDA forecast from previous guidance by $15m to between $55m to $65m due to its Boonanarring project just north of Perth performing above expectations in several key areas. Projected operating costs have been lowered by about $10m to between $75m and $85m, while revenue guidance has ticked up to between $130m and $145m.