Public Company News

Sabre Energy has agreed to stump up $6 million in drilling and testing costs at Buru Energy’s Rafael Shallow oil well in Western Australia’s onshore Canning Basin to earn 50 per cent of any commercial discovery and production. If the drilling leads to a commercial discovery, Sabre will also compensate Buru for its prior Rafael exploration expenses with a further payment of $1.5 million.

Terrain Minerals plans to test its promising Wildflower gold project in Western Australia later this month, with an air-core drill program for 41 holes comprising about 2100m. Drilling will test the company’s two priority targets, Wildflower and Cota, where previous drilling and soil sampling produced encouraging results that management is keen to pursue at the project that sits within WA’s Murchison gold province.

A Latitude 66 geophysics survey has identified strong conductors at the company’s K9 prospect in Finland that correlate with multiple conductors down-plunge from known gold-cobalt mineralisation and local shear zone orientation. The significance of the downhole electromagnetic results from two adjacent holes is that they confirm continuity of K9 mineralisation towards the south-west and north-east and also down-dip and down-plunge.

A compelling prefeasibility study (PFS) for Larvotto Resources’ Hillgrove gold-antimony project in New South Wales shows the operation will spit out an EBITDA of $652 million during a seven-year mine life. Using conservative pricing estimates, the company also revealed a post-tax NPV of $157 million, a post-tax IRR of 50 per cent and a maiden ore reserve of 606,000 ounces at 6g/t gold-equivalent.

Meeka Metals has appointed top-gun mine site executive Matthew O’Hara to lead the construction phase for its 100 per cent-owned flagship Murchison gold project in Western Australia’s Mid West region. The company has today confirmed that funding is imminent, site environmental permits have been secured and a bigger-than-planned ball mill will be delivered by September, bringing the project another step closer to production.

This week’s Bulls N’ Bears Runner of the Week is … Alto Metals, after it revealed high-grade gold rock chips – and then also confirmed a takeover bid by Brightstar Resources. There is obviously a fair bit to unpack there, but we will do just that and also look at other companies that ran hard this week, including African Gold, Appen and Atomos.

Buxton Resources is setting out on the trail of encouraging results gleaned last year from its Dogleg nickel-copper-cobalt project in WA’s Kimberley region as the company kicks off its new field season with up to eight diamond drillholes. Management is also planning to run extensive moving loop electromagnetic surveys to detect conductivity anomalies that could be related to nickel-copper-cobalt sulphide mineralisation away from previous drilling.

White Cliff Minerals has confirmed the locations of historical high-grade results for a suite of valuable minerals at its two key Canadian projects, defining multiple priority targets for early drilling after completing a maiden field work campaign. Field reconnaissance, mapping and sampling has identified four iron oxide-copper-gold targets at its Great Bear project and multiple styles of copper mineralisation at its Rae play.

Estrella Resources is continuing to deliver the goods at its Lautém project in virgin Timor-Leste, with the discovery of new supergene manganese mineralisation exposed from surface at its Sica prospect. The company also received “exceptional” assay results from grab samples taken at several nearby prospects, with grades reaching as high as 57 per cent manganese.