Public Company News

Tyranna Resources’ partner Alliance Resources has discovered a zone of gold anomalism from aircore drilling at the Weednanna East prospect of their Wilcherry JV project in South Australia. The magnitude and distribution of gold may be indicative of primary gold mineralisation and Alliance plans to carry out further drilling to better define the gold in regolith anomalies before carrying out bedrock drill testing.

Greenland Minerals has completed an optimised design for its proposed port facility to service the massive Kvanefjeld rare earths project in southern Greenland, allowing capital costs to be updated. The work by PND Engineers and China Communications Construction Co follows a revised design for the project’s plant and infrastructure delivered in late 2018 by Tetra Tech, which dramatically reduced civil earth working costs.

PharmAust has signed an agreement with US pharmaceutical heavyweight Elanco that allows the biotech company to reference certain safety and blood chemistry data that were generated for the regulatory approval of Monepantel in Australia, New Zealand and the EU, as an anti-parasitic drug in livestock animals. This could potentially expedite the early proof of principle phase two trials of the anti-cancer drug in dogs.

Kairos Minerals has uncovered additional gold anomalies over more than 10km strike at its emerging Croydon gold project, located near Port Hedland in the Pilbara region WA. Encouraging new assays up to 1.2g/t gold were returned from geochemical stream sediment sampling. The company is also reviewing a development pathway for its 643,000 ounce gold resource at the Mt York project, located 100km west of Croydon.

MGC Pharmaceuticals has completed the sale of its cannabis-based cosmetics business, MGC Derma, to CannaGlobal for a 10% stake in the private Canadian cannabis investment company. The company will now focus on its cannabis-based pharmaceutical products and deliver on its seed-to-pharma business model.

Southern Gold has confirmed narrow, high grade gold/silver mineralisation from an underground infill and extensional channel sampling program at its emerging Weolyu South epithermal precious metal project in South Korea. Results included 0.45m @ 30g/t gold and 1,280g/t silver and 0.55m @ 28.9g/t gold and 1,350g/t silver. A re-assay of 2017 samples also provided a significant 30% uplift in gold grades from the original analyses.

Calima Energy has spudded the second of two horizontal wells at its Canadian Montney oil and gas play that will be placed on extended production testing to assess the commerciality of its acreage. Successful testing of the Calima-2 and Calima-3 horizontal wells will allow the company to convert at least some of its resources from prospective to the higher confidence contingent level.

Venus Metals’ metallurgical testing of beneficiated oxide ores from the Youanmi project in WA, has shown that heated, sulphuric acid leaching produces recoveries near 80% of the contained vanadium pentoxide content, whilst rejecting 40% of the waste materials. Further work is underway to optimise the process flowsheet for the scoping study and Venus is presently updating the Youanmi mineral resource estimate.

Upstart telco Vonex continues to steadily build its cloud based PABX telephony business with the company reaching a record of 26,000 registered users as at 25 January 2019. This is up 22% from the 21,000 users it had a year ago and is a key indicator of the company’s business development progress as it expands its reach to small and medium enterprises.

Tyranna Resources’ partner Alliance Resources has identified a new gold target within the Wilcherry JV project in South Australia after re-assaying historic iron ore drill samples. Better results from the re-analysis of drilling carried out by Ironclad Mining between 2008 and 2012 at the Weednanna North prospect included 8m @ 1.06g/t gold from 58m down-hole and 22m @ 0.34g/t gold from 42m.

Great Southern Mining has successfully completed metallurgical test work on oxidised ores from its flagship Mon Ami project in WA that showed up to 97% recovery of the contained gold. The work has confirmed that the ores are amenable to conventional cyanide leaching and gravity recovery techniques and that low reagent uptake and coarse grinding will likely result in low operating costs.

Blina Minerals ongoing due diligence work at the Maintirano copper project in western Madagascar continues to return encouraging results with eight samples returning more than 5% copper, including a sample that registered 37.5% copper and 33ppm silver. The company will now carry out airborne surveys to help locate additional vein systems as no modern exploration methods have been used at Maintirano to date.