Public Company News

BMG Resources is preparing to probe high-grade gold zones at its Abercromby gold project in a round of extensional drilling designed to expand the company’s current maiden 518,000 ounce gold resource at Wiluna. The program was flagged two weeks ago following the company’s successful $1.5 million capital raise from sophisticated and institutional investors and it is now fully-funded to complete expansion drilling at Abercromby and to progress development studies.

In a masterclass of timing, Octava Minerals will start a 3000m drill program next week at its Yallalong antimony project, 220km from Geraldton, WA, just as the metal price hits an all-time high of $30,000/t. The campaign will initially target the Discovery and Central zones which have already secured heritage clearance, while the company also completes a geophysical survey.

Dateline Resources has revealed a potential ace up its sleeve at its 1.1-million-ounce Colosseum gold project outside of Las Vegas in California, suggesting mine waste at the gold project could provide a crucial second revenue stream by converting it into construction materials to serve the bustling southern Nevada concrete market.

Neometals says its pilot-stage ELi electrolytic” process to produce lithium hydroxide from lithium chloride in brine has successfully produced high purity lithium hydroxide monohydrate crystals. The pilot trial involved 1000 hours of exposure of South American lithium chloride brines to Neometals’ electrolytic process and confirmed the expected power consumption, membrane life and scaleability of the commercial application

In a well-timed deal, US-listed Uranium American Resources is set to snap up three U.S. uranium projects with existing resources for US$8.5m in cash and scrip, providing a potentially quick pathway to production. With demand for uranium as a clean energy source increasing and the price trading around US$85 a pound, Uranium American’s pivot looks to be well timed.

Javelin Minerals has intensified its focus on the company’s two flagship Kalgoorlie gold projects by placing a for sale sign on its Bonaparte copper-silver-lead-zinc project in WA’s Kimberley. The strategic doubling down on gold by the company follows its recent acquisition of the Eureka gold project north of Kalgoorlie, which adds to its Coogee gold project near Kambalda, both of which have historic pits that Javelin believes are harbouring more gold.

Terrain Minerals has nailed what looks like a new gold discovery in WA’s Mid-West region with its first pass drill campaign that followed up on historic arsenic soil anomalies. The maiden campaign at Terrain’s Wildflower project hit 9m at 1.17g/t gold from 30m, including 3m at 2.61g/t gold. The 72-hole, 1710m reconnaissance air-core drilling program also picked up multiple broad zones of lower-grade but geochemically-significant shallow supergene gold.

In this edition of Bulls N’ Bears Big Hits we examine some notable drill intercepts revealed on the ASX, including from G11 Resources’ extensive and underexplored massive sulphide system at Wilandra in NSW. We also take a close look at other interesting drill hits from last week as reported by Firetail Resources at its Canadian Skyline copper project and Dreadnought Resources’ gold hits from the company’s Star of Mangaroon mine.

Lindian Resources will pick up between $1 and $2 a tonne by way of a royalty over its Woula bauxite project in Guinea, with two Guinea-based firms set to lease and mine the project. Woula will churn out about 2mtpa and notably, production should commence within 12 months, setting up a handy income stream for Lindian as it looks to commercialise its massive rare earths asset in Malawi.

Aurum Resources has again hit paydirt in its expanded drilling campaign at the company’s Boundiali project in Côte d'Ivoire with a 1m hit coming in at 35.86g/t, more than an ounce to the tonne gold. The company continues to furiously expand its already identified 2.5km of gold mineralisation which is still open along strike and at depth. Another 17m intersection in the latest campaign landed 1.6 g/t gold from 230m and included a 4m section grading 2.02 g/t gold.

Strickland Metals has nailed a third new gold and base metals discovery in four years after unearthing a new discovery from wildcat drilling at its Kotlovi prospect, just 350m west of the Medanovac deposit at the company’s Rogozna project in Serbia. The best number of the new batch of wildcat drilling results is 40m at 2.6 g/t gold from 558m.

Great Southern Mining and Gold Fields Ltd have found a huge, 2km-wide induced polarisation target, potentially a big porphyry gold-copper system, lurking at their Edinburgh Park project in Queensland. The buried structural geological feature is coincident with a grab bag of other exciting geological indicators including positive soil samples, rock chips going over 10 g/t gold and sulphides outcropping at surface.