Public Company News

Legend Mining is taking the next steps in its Fraser Range exploration strategy with plans to drill two 500m deep diamond holes at the Area D prospect within its prospective Rockford project in search of nickel-copper sulphide mineralisation. The company has also finalised the geophysical modelling of low-frequency moving loop EM data from its recently completed survey over the previously identified D5 conductor at the project.

Coziron Resources is gearing up to kick off a comprehensive drilling campaign at its exciting Ashburton magnetite iron ore project in the West Pilbara region of WA early next year, with upcoming ground surveys to guide the final drill locations. The company is fully funded for the work after a recent $3m placement and the drilling is aimed at generating a JORC-compliant mineral resource and samples for met test work.

Venus Metals has granted a $50,000 option to Ascan Capital for the possible purchase of one of its Nardoo Hill lithium project tenements in WA’s Gascoyne region. If the 90-day option is exercised, a $350,000 purchase price will be payable via a future share issue and mining royalty to Venus. The company, along with JV partner Rox Resources, continues to focus on high-grade gold discoveries near Youanmi in the State’s Murchison district.

Novo Resources has unearthed a swag of gold nuggets from bulk sampling at its emerging Egina project located in the Pilbara region of WA. The company said that recoveries exceeded 1 gram of gold per cubic metre of lag gravels sampled and that it is investigating the use of low-cost extraction and processing of the coarse gold, using “dry” methods including continuous miners and mechanical ore sorters.

Horizon Minerals remains focussed on taking control of one of Australia’s oldest gold addresses and has agreed with Focus Minerals to extend an Exclusivity Deed for the potential $55 million acquisition of significant land, a mill and associated plant in WA’s Coolgardie region. The purchase could see the West Australian listed explorer become the Goldfields region’s next major gold producer. Horizon already has its foot on multiple gold resources surrounding Kalgoorlie.

Lindian Resources has secured an option to acquire a 51% stake in the high-grade Gaoual bauxite project in the West African country of Guinea that looks like it could be a rare “conglomerate” deposit. Average alumina grades that shoot the lights out at 54%, with a corresponding low silica content under 2%, look to be the goods. Drilling will kick off at the project in December.

Aspire Mining’s DFS for its high-quality coking coal project in northern Mongolia will be released in mid-2020, after slight delays in approvals for the infrastructure. In May, the Mongolian Government endorsed the company’s ore reserves for the Ovoot Early Stage Development project, allowing Aspire to commence the relevant environmental studies, social impact studies and project management plans for the proposed coal mine.

Neometals continues to confirm the high-grade tenor of its Mt Edwards nickel sulphide project in WA’s Goldfields on the back of some encouraging diamond drilling assay results from its recently acquired Munda deposit, where one hole returned 8.3 metres at 2.16% nickel from 93m down-hole, including an impressive 2.3m @ 6.11% nickel from 99m at the base of the ultramafic unit.

Nusantara Resources has nailed a 64-metre drill intersection grading 2.12g/t gold from 201.1m down-hole, that lies well below its USD$1,400 per ounce optimal pit shell for the flagship Awak Mas deposit on Sulawesi Island, Indonesia. The exciting result opens up a near 1km wide, sparsely drilled, potential gold mineralised corridor between the eastern edge of the proposed Awak Mas open-pit and the Salu Bulo deposit, further to the east.

Middle Island Resources has strongly reaffirmed its plan to consolidate the neighbouring gold holdings in the Sandstone region of WA, by releasing an updated Supplementary Bidder’s Statement for its all-scrip, off-market takeover of Alto Metals that it launched during the June quarter. In doing so, it has also agreed to publicly waive a condition breach related to a shortfall of securities issued by Alto earlier this year.

St George Mining appears to be onto a new occurrence of solid-grade nickel-copper-PGM mineralisation, courtesy of its latest drill program at the Radar prospect near Leonora in WA, which extends the strike of the emerging Cathedrals Belt, base metal deposits to 5.5km. The discovery hole returned 6m @ 2.14% nickel, 0.74% copper and 1.62g/t PGMs from 46m down-hole, including a chunky 2.55m @ 4.29% nickel, 1.46% copper and 3g/t PGMs from 49.05m.

AVZ Minerals has concluded Phase 1 met test work for its amazing Manono lithium-tin project in Africa, which continues to deliver encouraging ore grades and metal recoveries in line with other global lithium projects. The company said it had now moved onto the Phase 2 confirmatory programs and is close to appointing an experienced Non-Executive Chairman to guide Manono’s ongoing development.