Public Company News

Calidus Resources has generated high-grade gold assays from a regional aircore drilling campaign over conceptual exploratory targets on prospective shear zones at its Warrawoona gold project near Marble Bar, WA. Best results included 12m @ 2.37g/t gold from 52m down-hole and 4m @ 8.87g/t gold from 48m down-hole on the Klondyke-St George shear system, 5km west of the main Klondyke gold deposit.

BlackEarth Minerals’ encouraging preliminary test work results have revealed that nearly half of the ore concentrate for its Maniry graphite project reports to the Super Jumbo, Jumbo and Large flake categories at high grades of 96% TGC. The results will now be used in offtake discussions and potential agreements and help broaden funding initiatives and product development for the project.

MGC Pharmaceuticals has received a purchase order of about $700,000 from the first full bulk order of cannabis-based cosmetic raw materials from private Canadian cannabis investment company CannaGlobal. It has also received a $173,000 payment for the delivery of cannabidiol raw material to lifestyle & medical cannabis product manufacturer Mabsut Life under their multi-year supply agreement.

PharmAust has given US-based manufacturer Catalent the green light to start producing more Good Manufacturing Practice-grade Monepantel tablets for its upcoming Phase 2 anti-cancer clinical trials in dogs. The company plans to start recruiting dogs with B cell lymphoma in August or September this year for the Phase 2 trials, which will initially follow a 28-day treatment regimen.

Crusader Resources is securing funds to facilitate the optimisation and completion of a DFS and BFS for its Borborema gold project in north-eastern Brazil by the end of this year. The company recently divested its Juruena-Novo Astro gold projects for $3m in cash and scrip and is raising up to $4.1m in a rights issue, as it vectors towards the development of its flagship gold project.

Troy Resources’ infill RC drilling at the Ohio Creek prospect of its Karouni project in Guyana has returned high-grade hits of up to 3m @ 41.7g/t gold from 29m down-hole and indicated a coherent mineralised footprint across a strike length of about 100m and depth of at least 125m. Recent diamond drilling has also confirmed that gold mineralisation may extend to depths of at least 250m.

Volt Resources is close to securing approval for a USD$40m note issue on the Dar es Salaam Stock Exchange that will underpin the Stage 1 development of its Bunyu graphite project in Tanzania. The company has also made progress regarding a proposed bond issue on the Stock Exchange of Mauritius and has received strong interest from North America and Asia-based institutions to fund the project.

Spectrum Metals will commence a detailed, ground-based geophysical SAM survey program over the Penny West shear corridor next month, which hosts the high-grade gold mineralisation at its namesake project located near Youanmi, WA. The surveying covers a gap between the recently identified Penny North mineralisation and the Columbia-Magenta targets to the north and will assist in the delineation of geological structures.

Great Southern Mining has secured up to $150,000 of co-funding support from the WA Government for RC drilling on the various nickel-cobalt-scandium targets at its Mt Weld project near Laverton. This is timely given the ongoing trade war between China and the US that has sent shares in Lynas Corporation, who operates the neighbouring Mt Weld rare earth mine, sky-rocketing more than 80% since late March.

Novo Resources has compiled a mineralisation report for its Karratha gold project in the Pilbara region of WA and outlined future work programs that include comprehensive, bulk sampling of up to 100,000 tonnes across the region. The company will undertake innovative mechanical ore sorting and scanning techniques on the samples addressing the unique, coarse nuggety gold distribution of the Karratha deposits to more accurately predict gold grades.

Strike Energy has signed a gas offtake option agreement with major chemical manufacturer CSBP for the supply of up to 100 petajoules of gas from the upcoming West Erregulla-2 well in the Perth Basin, WA. CSBP will pay a $5 million option fee to help fund the cost of drilling the well, which targets up to 1.16 trillion cubic feet of gas in the Kingia High Cliff sands and 7.2 million barrels of oil in the Jurassic Cattamarra Coal Measures.

MGC Pharmaceuticals and its research partner RMIT have been awarded a cannabis cultivation research licence from the Australian Office of Drug Control. This allows the partners to advance research on the optimisation of breeding and cultivating processes and the extraction of material to conduct pre-clinical research assessing the efficacy of medical cannabis on prostate, melanoma and other cancer cells.