Public Company News

A maiden RC drilling program at BMG Resources’ Bullabulling project in WA’s East Yilgarn lithium corridor has tapped into an intriguing swarm of potentially lithium-rich pegmatites. The junior explorer’s shares spiked nearly 85 per cent to 2.4 cents today on the back of the encouraging discovery. BMG has until next month to make the final decision to acquire full ownership of the prospective tenure.

Joint venture partners Octava Minerals and Future Metals NL have launched a drill hunt for platinum group metals and nickel at their Panton North project in Western Australia’s Kimberley region, chasing an extension of the neighbouring 5-million-ounce Panton platinum group metals deposit. Management says its more than 2000m campaign will target areas which attracted interest in previous fieldwork.

Budding Australian gas producer Empire Energy Group has wound up the latest round of flow-testing at its Carpentaria-2H gas well in the Northern Territory, pulling up a total of 323 terajoules over 127 days. As Empire gears up to commence testing at its Carpentaria-3H well, its impressive flow rates are eliciting the attention of a growing list of potential suitors for the in-demand energy source.

TSX-listed Novo Resources hopes its latest AC drilling results, which show a likeness to early work at De Grey Mining’s ’s lucrative Hemi gold operation, will prove a significant step for the company in the Pilbara. Drill highlights include a 3m hit at 5.23 grams per tonne gold from just 9m and another 3m intercept going 2.93g/t gold, also from 9m.

Lindian Resources says the second phase of its depth-extension drill program at its promising Kangankunde rare earths project in Malawi is on track – and it has whetted the appetite of investors by flagging the return next week of more assay results from its phase-one work. The critical minerals company expects to release a maiden mineral resource estimate by the end of next month.

Godolphin Resources is planning a drilling program to follow up fieldwork at its Yeoval East prospect and further expand its resource footprint in NSW’s rich Lachlan Fold Belt. Soil and rock-chip program results identified a 150ppm copper zone about 600m long and 200m wide. Copper results ran up to 0.14 per cent from soil samples and 0.28 per cent copper from rock chips.

Kalgoorlie Gold Mining (KalGold) has wrapped up a deal to secure a valuable 22km-long swathe of the Laverton tectonic zone, north of Ramelius Resources’ 1.1-million-ounce Rebecca gold project in WA’s Eastern Goldfields. The company appears to have hit early paydirt, stumping up visible gold in one of the first three RC holes probing its Kirgella Gift prospect.

Estrella Resources has identified a slew of fresh targets at its Carr Boyd nickel project near Kalgoorlie following a review of data from its partnership with the CSIRO and results from a recent seismic survey. The company says it has highlighted 30 targets, including 15 with known nickel-copper-platinum group element intersections and another 15 hosting the right geology, but which are yet to be tested.

Aurumin is primed for another stint on the rig at its Sandstone gold project, 520km north-east of Perth. A 5000m campaign will chase targets from geochemical and structural work at the project and is expected to launch early next month, with management saying the 44 holes of exploratory work will cover nine open-pit targets that all sit within a 3km radius of its processing plant.

American West Metals has continued its unbroken run of hitting thick copper intervals at its Storm project in Canada, with its latest batch of eight holes all showing strong visual sulphides from reverse-circulation (RC) drilling. Management says assays received from its resource definition program include 15.2m at 1.2 per cent copper containing 4.6m going 2.8 per cent copper from 54.9m.

Xanadu Mines has begun an aggressive 18,000m discovery exploration drilling campaign at its Kharmagtai copper-gold project in Mongolia, with results set to be incorporated into an ongoing prefeasibility study. The program includes two additional diamond drill rigs, with one set to cover 8000m of deep exploration targeting high-grade and large-scale mineralisation at depth. A further 6000m is planned, depending on results.

Galan Lithium has filled its coffers to the tune of $31.5 million from an institutional placement priced at $1.05 per share to help drive development at its Hombre Muerto West lithium brine project in Argentina. It says the funds will be used to purchase long lead items for its proposed lithium carbonate pilot plant and the stage-two definitive feasibility study at the project.