Public Company News

ASX-Listed Middle Island Resources has defined a shallow new gold deposit at the McIntyre prospect, which is just one of fourteen targets within its wholly owned Sandstone gold project, located in central WA. New, consistent shallow drill intercepts from the current RC drill program include 24m grading 1.66 grams per tonne, 23m at 1.40g/t, 11m at 1.39g/t and 18m going 1.35g/t gold have delivered a second deposit in a week.

ASX-listed gold explorer, Ardiden Limited has secured land access rights to continue exploration for extensions to its 110,000-ounce gold resource at the Kasagiminnis gold project after executing a binding MOU with the Mishkeegogamang First Nation of Ontario group in Canada. The Kasagiminnis resource of 790,000 tonnes at an impressive 4.3 grams per tonne gold covers only 600m of the prospective 5.6km strike length of the project.

After another solid field campaign, Classic Minerals has produced a maiden resource at its Kat Gap project near Southern Cross in WA of almost 93,000 ounces grading nearly three grams per tonne gold. The new resource has now laid a solid foundation for the company to go ahead and apply for a mining lease across the deposit and run some initial numbers around getting into early production.

ASX-listed ‘software-as-a-service’ provider, K2fly, said the annual recurrent revenue stream from its software contracts has now surpassed A$2.0M after it signed on yet more customers for its “RCubed” mineral resource governance software. The company said the total contract value for its multi-year contracts, mostly with global mega-mining clients, now tops A$6M after Belgium-based Sibelco signed on for a 3-year term and Kinross Gold Corporation inked a 5-year deal.

ASX-listed oil explorer, 88 Energy, has interpreted oil in a formation above the primary target zone’s confirmed condensate gas find at its “Charlie-1” oil appraisal well on Alaska’s oil-rich North Slope. Detailed analysis of the wireline logs obtained when the well finished drilling have identified an extra 19.5m of additional oil pay zone in the Seabee Formation where live oil shows were recorded while drilling.

ASX-listed PharmAust Limited will shortly commence laboratory testing of the effects of its anti-cancer drug, Monepantel on the Coronavirus after entering into an agreement with the Walter and Eliza Hall Institute of Medical Research in Melbourne, Victoria. The study will be overseen by the Institute’s award-winning, chronic infections researcher, Professor Marc Pellegrini, with feedback expected as early as May this year.

Novo Resources has unearthed an impressive total of three new broad areas of gold-bearing alluvial gravel swales, or shallow channels, at its flagship Egina conglomerate gold project in the Pilbara. The Paradise area, which is host to two of the newly discovered gold-bearing areas, is about 14 kilometres north-northeast of Novo’s Egina mining lease. Another new discovery, known as Clarke, is just 10 kilometres northwest of Egina.

After an aggressive exploration campaign across its Menzies and Goongarrie projects in WA, Kingwest Resources has tabled a scoping study for just one of its prospects, Goongarrie Lady, where it is hoping to pull out $10.3m in 10 months before tax and financing from one open pit. The company is planning to initially mine 149,000 tonnes at an impressive 3.12 g/t for 14,000 ounces of recovered gold.

Neometals has lifted the nickel resource at its Armstrong deposit 90km south of Kalgoorlie, by an impressive 60% following a substantial RC drilling program that was designed to infill the old resource and test the extents of interpreted high-grade nickel shoots. Armstrong forms part of the Mt Edwards project where an expanding resource base, across 11 deposits, is bolstering the company’s position as an aspiring nickel developer.

Tyranna Resources has its sights firmly set on a plan to advance its Dragon and Knight nickel projects that lie about 30 to 40 kilometres east of St George Mining’s Mt Alexander nickel project in the Goldfields of WA. The ASX-listed company has put together a grab bag of interesting looking nickel targets and is now planning to embark on a maiden exploration program in the region.

Horizon Minerals has taken a conservative approach to the current state of play in the market and is putting as much cash as possible into bringing its flagship Boorara gold project east of Kalgoorlie, into production. To maintain its balance sheet, the company’s Board and Executive team have agreed to sacrifice 25% of their salaries to support the company’s vision. Management said it is still aiming to break ground at Boorara in the June quarter of this year.

Blackstone Minerals has exercised its option to acquire a 90 per cent interest in the Ta Khoa nickel project in northern Vietnam from AMR Nickel Limited for AUD$1M Blackstone shares based on its 30-day VWAP. The Perth-based explorer picked up a binding option to acquire the project back in May 2019. The project includes the mothballed Ban Phuc underground nickel mine and 450,000 tonne per annum nickel concentrator built to Australian standards.