Public Company News

King River Resources has recovered up to 92% vanadium in heated sulphuric acid vat leaching metallurgical test work on coarse lump ores from its massive Speewah project, located near Kununurra in the Kimberley region of WA. The company says the encouraging results support the development of an alternative ore processing route for its flagship vanadium project that could drastically lower capital and operating costs.

Middle Island Resources pocketed $1.4m last week from an entitlements offer to shareholders that closed well over-subscribed in a challenging market. The funds were raised primarily for key exploration and development activities at the company’s Sandstone gold Project in WA’s Murchison region. This will include completing work on the flagship Two Mile Hill tonalite deeps deposit and diamond drilling three intriguing lookalike gravity targets nearby.

Adriatic Metals has intersected a stunning 72m long diamond drill intersection grading 18.3% zinc, 10.7% lead, 2.5g/t gold, 211g/t silver, 2.5% copper and 25% barite from 206m down-hole at its emerging Rupice prospect in Bosnia. The new result extends mineralisation 30m down-dip and down-plunge to the north. A maiden mineral resource estimate for Rupice prospect is expected in the first half of 2019.

Aspiring ASX listed satellite telco, Sky and Space Global, has signed a reseller MoU with Spanish telco Global Telesat and a trial service agreement with Brazil’s Telespazio Brasil. Global Telesat will explore how the Sky and Space’s nano-satellite based, narrow-band communications services can be incorporated into its network and improve its offering.

Artemis Resources has discovered multiple exploration targets from a geophysical interpretation of its high-resolution, aeromagnetic survey over its Armada prospect in the emerging Paterson Ranges in the eastern Pilbara of WA. Two new priority targets lie in a 6km long corridor, directly along strike and north of Greatland Gold’s spectacular new Havieron copper-gold discovery. Gravity surveys will now be undertaken to better define the highest priority targets.

ASX-listed biotech Phylogica has continued its march towards commercialisation of its potentially game-changing biological “peptide” vaccine, with the Perth company set to release results from in-vitro testing by mid-2019. Phylogica says its vaccine is able to provoke an amplified immune response against diseased tissue including viruses and cancer. The vaccine is based on technology that allows drugs to fully penetrate cell walls in order to deliver a drug payload.

Kairos Minerals has uncovered widespread gold anomalies over more than 10km strike at its emerging Croydon gold project, located about 120km southwest of Port Hedland in Pilbara region of WA. Encouraging assay results up to 1.53g/t gold were returned from stream sediment sampling, with most of the new anomalies recorded from the same rock unit that hosts Novo Resources’ 667,000 ounce Beatons Creek gold resource further east.

Spectrum Metals has generated multiple, high priority drill targets from a regional exploration auger geochemical sampling program at its newly acquired Penny West gold project, located in the Murchison mining district of WA. The company said it will drill the Columbia-Magenta prospect in the coming weeks and also target high grade gold mineralisation beneath the historic Penny West open pit shell.

Aspire Mining has reported that the expected supply and demand gap in the high quality, “fat” coking coal market in China over coming years will assist in fast tracking the development of its Ovoot coal project in north western Mongolia. The company recently finalised a $15m financing package for the project and is now debt free and fully funded through to the completion of all required feasibility studies.

Blina Minerals NL has taken an 11% shareholding in public unlisted Australian exploration company, Condamine Resources, who is developing a suite of interesting looking gold plays in New Zealand. Condamine holds 4 high grade projects in the historical Reefton Goldfield on the South Island of New Zealand and the investment by Blina will provide additional funding for Condamine to start drilling campaigns, programmed for the first half of 2019.

Image Resources has banked its first cheque from the export of heavy mineral sands concentrate from its zircon-rich Boonanarring mineral sands mine located in the North Perth Basin region of WA. The first bulk shipment of about 10,000 wet metric tonnes of concentrate was shipped from Bunbury Port this week, with payment secured via a letter of credit from Image’s Chinese off-take partner, Natfort.

Calima Energy has successfully intersected the target Montney formation in the first of three gas wells completed in British Columbia, Canada, reporting that a 230m vertical section of the rock sequence was recovered at a depth of about 1.5km below surface. The company said that elevated gas readings were encountered during the drilling program, with gas escape bubbles noted at the base of the drilling rig during operations.