Public Company News

ABx Group’s innovative work in exploring, drilling and processing ionic-adsorption clay rare earths deposits in Tasmania last year has been rewarded with a Federal Government rebate of more than $437,000. The timely cash injection comes less than a month after the company’s 83 per cent-owned subsidiary ALCORE received a similarly-sized rebate for its work on a process to recover and recycle waste aluminium fluoride.

Significant copper-antimony assays from Aruma Resources’ Fiery Creek project near Mount Isa in Queensland have sent the company’s share price flying on the back of its biggest-ever intraday trading volumes. A surface sampling program at the project has revealed high-grade copper assays alongside significant grades of up to 1 per cent antimony, which is currently a hot commodity on the ASX.

Empire Energy Group has locked in contractors to start drilling its Carpentaria-5H well next month, with an aim of supplying 25 terajoules a day for 10 years under a new agreement with the NT Government. The company has confirmed it has signed deals with Ensign Australia for drilling services and Halliburton Australia for fracture stimulation at the pilot project that sits 650km south-east of Darwin.

A gravity survey by Sipa Resources at the Barbwire Terrace project it shares with Buru Energy east of Broome in WA has unearthed a big anomaly and telltale structures to boost its chances of a lead-zinc find. Sitting on the southern margins of the Fitzroy Trough, the findings show geological similarities to the Lennard Shelf on the northern side of the trough.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the notable drill intersections revealed on the ASX, including WIA Gold’s 4m at 87.43g/t gold from 79m at its Bouaflé project in Côte d’Ivoire. We also take a look at other interesting drill hits by Turaco Gold from its Côte d’Ivoire deposit and PolarX from its copper project in Alaska.

Aurum Resources has cemented a 51 per cent foothold on the BM joint venture within its Boundiali gold project in Côte d'Ivoire after completing more than 8000m of diamond drilling at the West African site. The company can now secure up to 80 per cent of the BM operation it shares with Minex West Africa by hitting further exploration milestones.

ChemX Materials has received a $250,000 boost to help drive the commissioning of its high-purity alumina pilot plant in WA and plans to use the first part of its expected Federal Government research and development (R&D) rebate as security for the funding. A further $191,000 is also due in the coming weeks as the company ramps up the commissioning of its high-tech development.

This week’s Bulls N’ Bears Runner of the Week is … Golden Deeps. The exploration company struck high-grade copper-zinc at its Havilah project in NSW. Osmond Resources’ shares also bounded higher after the Melbourne-based company acquired a rare earths and heavy minerals project in Spain, while other movers-and-shakers this week were Energy Metals and Killi Resources.

Kalgoorlie Gold Mining has completed follow-up air-core drilling on thick gold intercepts from its Pinjin project in Western Australia’s Goldfields region as part of a mission to expand its promising Wessex target, just 650m south-west of Hawthorn Resources’ Anglo-Saxon pit. In a further extension to its latest campaign, the company also put 25 holes into its Kirgella Gift North and Providence West zones.

The race is still on for companies trying to crack the exploration code within Western Australia’s rugged Albany-Fraser Orogen in the ongoing mission to reproduce the area’s renowned – and only – Nova-Bollinger nickel-copper find. Despite some firms claiming to have defined the geological silver bullet they believed would shoot them to fame, the search for the elusive prize continues.

Surefire Resources’ soil sampling at its Yidby East gold project in Western Australia’s Mid West region has identified anomalous base metals similar to of the nearby Golden Grove style of volcanogenic-hosted massive sulphide (VHMS) deposit. The company’s Phat Boy target sits about 50km south/south-east of 29Metals’ world-famous Golden Grove and other nearby VHMS deposits in the same belt.

A 14-hole step-back diamond drilling program has rewarded Aurum Resources with a gold hit of 40m at 1.03 grams per tonne from 136m at its Boundiali project in Côte d'Ivoire as it moves to develop a large-scale mine. The headline hit also features a 5m slice at 1.7g/t gold, with other results including 11m at 2.15g/t from 169m and 10m at 2.02g/t.