Public Company News

BMG Resources’ second round of drilling at its Bullabulling project near Coolgardie in Western Australia has nailed high-grade gold hits up to 4m at 10.12g/t in shallow drilling and confirmed stacked, lithium-rich pegmatites with a best slice of 4m at 0.56 per cent lithium oxide. The company says it highlights its discovery potential in a “world-class Australian lithium and gold region”.

ChemX Materials has shifted its focus from its micro-plant operation to the design and delivery of the company’s high-purity alumina pilot plant after achieving 99.996 purity using its “HiPurA” process. It is now on track for first commissioning in next year’s first quarter and with the purity capability consolidated within the design, the next stage of development is the procurement of longer lead items.

Reach Resources says it has seen multiple thick, stacked pegmatites in reverse-circulation (RC) cuttings within the same rock package that hosts Delta Lithium’s Malinda and Jamesons projects to the east and west. The company says it has now completed 57 RC holes for 5282m at its Morrissey Hill lithium project in Western Australia’s Gascoyne region, with the majority intersecting pegmatites.

Rock chips from Askari Metals’ 100 per cent-owned Barrow Creek rare earths and lithium project in Australia’s Northern Territory have come back as high as 11,610 parts per million total rare earth oxides (TREO). Other rock chips assayed at 2507ppm and 2446ppm TREO, correlating with historic rock chips that went as high as 4553ppm, 2143ppm, 1243ppm, 1235ppm and 1091ppm TREO.

Gold Mountain’s stream sediment sampling has identified anomalous lithium in four of its five Juremal licences in Brazil and has defined targets for follow-up soil sampling to home in on the sources of the anomalies. The company says the three best stream targets are associated with west-flowing tributaries originating at or beyond the eastern boundaries of its easternmost block of licences.

Quantum Graphite has outlined an internal rate of return of almost 50 per cent and a net present value of more than $497 million following a financial update of its Uley 2 graphite project in South Australia. The independent assessment identified that doubling the mill throughput up to 1.2 million tonnes a year would lift production up to 100,000 dry metric tonnes of flake graphite.

This week’s Bulls N’ Bears profiled ASX runner is … Compumedics. Its shares more than doubled this week to join fellow movers and shakers in Alterity Therapeutics, Lanthanein Resources and Global Oil & Gas.

Xanadu Mines has tabled a staggering resource estimate upgrade for its Kharmagtai copper-gold project in Mongolia, jumping to 1.3 billion tonnes with 3.4 million tonnes of contained copper and 8.5 million gold ounces. The updated estimate represents a 12 per cent increase in tonnes, a 15 per cent surge in contained copper and a 9 per cent jump in contained gold.

Meeka Metals has bolstered the 685,000-ounce resource at 2 grams per tonne gold at its Turnberry deposit in Western Australia’s Murchison region after delivering another round of high-grade oxide gold from 18 holes of infill drilling. The company is now pushing hard to finalise its development-ready status for next year in order to kick off mining.

A GreenTech Metals rock-chip sampling campaign has nailed new lithium hits along an east-west-trending, 2.5km-long pegmatite zone at its Kobe trend in Western Australia’s Pilbara region, with the best results ranging from 1.01 to 2.31 per cent lithium oxide. The company says the results demonstrate the local persistence of high-grade lithium along the western part of the Kobe trend.

Legend Mining’s mission to conquer WA’s mighty – but patience-testing – Fraser Range has taken a positive new twist, with geophysical data defining three conductors possibly related to nickel and copper. The conductors, identified during a maiden high-power fixed loop electromagnetics survey over the company’s entire “Octagonal” intrusive complex in the past three months, have positive drill intercepts with visual sulphide mineralisation identified in core.

Recent RC drilling at Kalgoorlie Gold Mining’s Providence prospect in Western Australia’s Goldfields region has turned up promising gold grades from just 20m depth, with broad runs of lower, but supportive grades prompting thoughts of open-pit mining. Management says the similarity of mineralisation to its adjacent Kirgella Gift prospect – and a possible plunge intersection between the two plots – may provide thicker or higher-grade zones.