Public Company News

Dateline Resources is tapping investors for up to $5.8 million via a renounceable rights issue to provide a financial boost for its compelling Colosseum gold and rare earths project in California. The company plans to use the funds to conduct further exploration works and complete a mine planning study for the bumper 1.1 million-ounce gold resource it recently reported at the project.

Red Metal has produced what it says could be a premium saleable rare earths product after its first impurity removal trial using ore from its globally-unique Sybella rare earths project near Mount Isa in Queensland. The company says its low-impurity, magnet rare earth oxides-dominant product is another proof-of-concept step towards Sybella becoming a significant, low-cost rare earths mining operation.

Latitude 66 has immediately hit its stride after a recent reverse takeover of DiscovEx Resources and re-listing on the ASX, revealing impressive new gold assay results up to 22.4m at 2.4g/t from extensional diamond drilling at its Kuusamo Schist Belt (KSB) project in Finland. The company is building on the existing indicated resource of 650,000 ounces of gold and 8000 tonnes of cobalt.

Ardea Resources has launched a $98.5 million definitive feasibility study, fully funded by a powerhouse Japanese consortium, for its giant Goongarrie Hub nickel project that sits 70km north-west of Kalgoorlie in WA’s Eastern Goldfields region. The Goongarrie Hub is an integral part of the company’s Kalgoorlie nickel project that embraces a collection of deposits combining to host what it says is the biggest nickel-cobalt resource in the developed world.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the notable drill intersections revealed on the ASX, including Warriedar Resources’ 19m at 4.94g/t gold from 188m at its Ricciardo Mine in Western Australia’s Murchison region. We also take a close look at other interesting drill hits from last week as reported by AIC Mines, Mt Malcolm Mines and KGL Resources.

Aguia Resources has endured a forgettable few years, but with new management and a new plan in place for its South American projects, a road to riches may well lie just ahead. The company is aiming to deliver strong early cashflow from its high-grade Santa Barbara gold mine in Columbia to provide the cash needed to fire up its organic phosphate operations in Southern Brazil.

This week’s Bulls N’ Bears Runner of the Week is … Infini Resources. Its share price jumped nearly 226 per cent on the back of a slew of lab-busting soil-sampling uranium results that showed grades so high that they have been dispatched back to the lab for another round of analysis. Other movers and shakers this week were Waratah Minerals, AML3D and Wellard.

Askari Metals has outlined a significant JORC-compliant gold exploration target at its Burracoppin gold project in Western Australia, with average grade variance between 0.67 to 0.91 grams per tonne within 8.2 to 11.1 million tonnes. It is in addition to the existing Burracoppin mineral resource estimate of 1.32 million tonnes grading 1.52g/t gold for 64,600 ounces of contained gold.

Ardea Resources has kicked off definitive feasibility study drilling planned to stretch for 51,745m in 888 holes at the Goongarrie Hub nickel project that it now shares with a giant Japanese consortium in the Western Australian Goldfields town of Kalgoorlie. The aim is to upgrade the project’s massive nickel-cobalt resource to the coveted measured mineral category to boost the confidence in its initial five-year plan.

The new combined ASX entity known as Latitude 66 believes it has high-tech electromagnetic data that makes exploration at its flagship KSB gold-cobalt project in Finland as easy as “shooting fish in a barrel”. DiscovEx Resources’ reverse takeover of Latitude 66 Cobalt has put together “a group of like-minded people” after the corporate transaction on the back of a $4 million capital raise.

Buxton Resources is employing a high-tech magnetic survey in a bid to define potential targets for the company’s maiden drill program at its recently-acquired Matrix manganese play in Arizona’s Mohave county. The survey will be flown at 30m flight lines above the 12-square-kilometre ground that sits on the interpreted western extension of Artillery Peak’s 277 million-tonne manganese resource grading at 2.8 per cent.

Strickland Metals has upped the ante at its Rogozna gold and base metals project in Serbia by adding a fourth diamond rig to target substantial copper-gold porphyry mineralisation at the site, with initial assays due next month. The new drilling activities come hot on the heels of Strickland confirming yesterday that it had completed its full acquisition of the project.