Public Company News

Reedy Lagoon has received positive results from a subsurface 3D geophysical survey at its Alkali Lake North project in Nevada, USA. Interpretation has shown a 1km long, 100m thick conductor starting from about 500m vertical depth, which the company says could represent multiple lithium-rich brine aquifers. The project is 30km northeast of Albemarle’s Silver Peak mine, which is currently North America’s only producing lithium brine operation.

Ironbark Zinc has received expressions of interests from financiers who are looking to move towards more formal discussions about possibly financing the company’s giant Citronen Zinc project. The expressions of interest came after Ironbark management wrapped up a series of site visits to Citronen with interested parties. The company has also started preliminary site works at the project in anticipation of a positive outcome.

Calidus Resources has entered into an agreement with TSX-V listed Pacton Gold Inc, to vend its non-core conglomerate gold rights at the Warrawoona gold project for a consideration of CAD$3.5m in Pacton shares. Calidus will retain all other gold rights to the ground. The deal covers 8 exploration licences and allows Pacton to explore and mine for conglomerate gold, with liability for rehabilitation and environmental obligations.

ASX listed Bellevue Gold’s infill drilling program has returned more high grade near surface gold hits including an impressive 2m @ 40.8g/t gold at the Tribune Lode within its Bellevue gold project in the W.A. Goldfields region. The company is also accelerating exploration at the its Viago Lode discovery with a view towards defining an initial resource that will upgrade the project’s current half a million ounce resource.

ASX listed medical marijuana player MGC Pharmaceuticals has received ethics approval to carry out phase two clinical trials into the benefits of its “CogniCann” product for dementia and Alzheimer’s patients in early 2019. CogniCann is a GMP certified, pharmaceutical grade, medicinal cannabis product specifically developed for the treatment of dementia symptoms to improve specific cognitive functions.

St George Mining has identified multiple nickel-copper sulphide targets from down hole electromagnetic survey programs at its Investigators prospect near Leonora in W.A. Recent drilling at the prospect identified sulphide mineralisation up to 7.55m thick, including nearly 1.3m of high grade massive sulphides. The company reported that a diamond rig has arrived at site to commence extensional and infill drilling on the new exploration targets.

Middle Island Resources has returned some serious diamond drilling results going nearly 2 ounces to the tonne gold near Sandstone. Higher grade results were returned from BIF and basalt units, including 2m @ 54g/t from 340m down-hole and 93m @ 2.57g/t from surface respectively. The target tonalite intrusion returned thick lower grade results including 165m @ 1.11g/t gold from 85m down-hole at the Two Mile Hill deeps deposit.

Strike Energy’s landmark Jaws-1, super-deep coal seam gas well in the Cooper Basin of South Australia, continues to demonstrate excellent productivity with water production rising 18% to 1300 barrels per day. The pumps are being run at less than 50% capacity while reservoir pressure is currently about of the original pressure prior to beginning depressurisation. Strike is managing the water drawdown to maximise gas recovery.

Underwater drone developer Aquabotix has joined the Information Warfare Research Project consortium which provides members with a fast tracked route to secure contracts offered by the US Space and Naval Warfare Systems Command. The company will gain access to key partners and customers and gain the ability to be able to carry out rapid research and prototyping using nondilutive funding options available under the OTA.

Azumah Resources has outlined several new gold exploration targets from geophysical interpretations of a comprehensive VTEM survey at its emerging Wa East gold camp in northwest Ghana. The company says the 3km long Eve target has all the hallmarks of the Julie system nearby, which holds 834,000 gold ounces. The new target coincides with strongly anomalous gold geochemistry in surface sampling, but has not yet been drill tested.

Lithium Australia has announced consistent grades of lithium in three diamond drill holes completed at its emerging Sadisdorf project in eastern Germany. Results include 78.51m @ 0.51% lithium oxide from 78.49m and 68.76m @ 0.51% lithium oxide from 211.49m down-hole in the same hole. Other results of 19.74m @ 0.65% tin from 83.42m down-hole and 15.97m grading 0.5% tungsten were also recorded from the polymetallic deposit.

Hammer Metals’ diamond drilling has returned a near surface intercept of 14m @ 5.93g/t gold and 2.19% copper including 5.5m @14.5g/t gold and 6.87% copper at the Jubilee prospect within its Mt Frosty JV near Mt Isa in Queensland. Fresh sulphide mineralisation samples from the drilling will be used for preliminary metallurgical studies to determine copper, gold and cobalt recoveries with results expected soon.