Public Company News

Chariot Corporation has moved quickly to get boots back on the ground at its Black Mountain lithium project in Wyoming, with exploration activities kicking off just one month after phase one drilling finished. The announcement caused a flurry of interest on the ASX, with the company’s shares jumping more than 31 per cent from a previous close of 18c to touch 23c during intraday trading.

Strickland Metals is convinced it has one hand wrapped around the tail of a “significant-scale” mineralised system at its Rogozna gold and base metals project in Serbia after step-out drilling spat out a new suite of solid results. The company plans to quickly follow up the positive assays from its Medenovac prospect, with a 10,000m diamond drill campaign set to kick off this week.

Reach Resources has stepped closer to unlocking the exploration potential of its Wabli Creek rare earths project in Western Australia’s Gascoyne region after scheduling a crucial Aboriginal heritage survey. The company today confirmed it would be meeting next month with the local Burringurrah Aboriginal Corporation in a bid to gain clearance for its long-awaited maiden drilling program that could launch as soon as next quarter.

Gold Mountain will keep a foot planted on the Salitre lithium project in Brazil that is now set to become a joint venture operation that it will share with Alderan Resources and Mars Mines in a new earn-in deal. The move will allow Gold Mountain to retain exposure to exploration upside at Salitre, while also narrowing its focus on its diverse portfolio of mineral holdings.

A successful drilling campaign at White Cliff Minerals’ Reedy South gold project in Western Australia’s proven Cue goldfields has produced extensions along strike and at depth to the already-defined 42,400-ounce mineral resource at the site. The company says it recorded positive results from the 2000m reverse-circulation program, including a consistent 79m intercept grading 1 gram per tonne gold from just 10m.

St George Mining has defined a promising 2.1km-diameter high-density circular intrusive at its Destiny project in WA’s Eastern Goldfields via a follow-up gravity survey designed to identify potential rare earths-rich carbonatite targets. The company says the geophysical characteristics of the gravity anomaly are consistent with a potentially-mineralised intrusive body that could be similar to other local structures known to host rare earths and related mineral suites.

Surging uranium prices have prompted Toro Energy to release an updated scoping study into its Lake Maitland project in Western Australia, with the new data showing a bulging EBITDA of more than $2.3 billion during its 17.5-year mine life. The latest figures assume prices of US$85 (AU$128.50) per pound of uranium oxide and US$5.67 (AU$8.57) per pound of vanadium oxide.

Meeka Metals has invested in a total camp and infrastructure package to accelerate the development of its flagship Murchison gold project in Western Australia – and at just 20 per cent of the cost predicted in its recent definitive feasibility study. The shopping cart includes camp accommodation, ablution blocks and offices for the Andy Well and Turnberry mining centres and a 110-kilolitre fuel storage tank.

Buru Energy’s Ungani oilfield is set for a new lease on life following the company’s significant farm-in agreement with Sabre Energy that is designed to spearhead a production restart and continued exploration at the site in Western Australia’s Canning Basin. Sabre will earn a 70 per cent interest in the Ungani oilfield and control of the operations for a $6 million outlay.

Aurum Resources has delivered yet another suite of lengthy gold hits from its burgeoning Boundiali project in West Africa’s Côte d'Ivoire, this time with a headline act showing 69m at 1.05 grams per tonne gold from 195m including 12m at 2.28g/t. Another hole in the ongoing campaign bored through 10m at 1.97g/t gold from 131m including 2m at 7.37g/t.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the more curious drill intersections revealed on the ASX, including Culpeo Minerals’ biggest-ever run of 298m at 0.98 per cent copper equivalent from 90m downhole. We also take a close look at other notable drill hits last week from Wildcat Resources, Spartan Resources and Terra Metals.

This week’s Bulls N’ Bears Runner of the Week is … MRG Metals. Its shares jumped 400 per cent on the back of it signing a binding joint venture agreement for its Corridor Sands project in Mozambique to see it join fellow movers and shakers NeuRizer, Reach Resources and Pearl Gull Iron.