Public Company News

Kairos Minerals has uncovered widespread gold anomalies over more than 10km strike at its emerging Croydon gold project, located about 120km southwest of Port Hedland in Pilbara region of WA. Encouraging assay results up to 1.53g/t gold were returned from stream sediment sampling, with most of the new anomalies recorded from the same rock unit that hosts Novo Resources’ 667,000 ounce Beatons Creek gold resource further east.

Spectrum Metals has generated multiple, high priority drill targets from a regional exploration auger geochemical sampling program at its newly acquired Penny West gold project, located in the Murchison mining district of WA. The company said it will drill the Columbia-Magenta prospect in the coming weeks and also target high grade gold mineralisation beneath the historic Penny West open pit shell.

Aspire Mining has reported that the expected supply and demand gap in the high quality, “fat” coking coal market in China over coming years will assist in fast tracking the development of its Ovoot coal project in north western Mongolia. The company recently finalised a $15m financing package for the project and is now debt free and fully funded through to the completion of all required feasibility studies.

Blina Minerals NL has taken an 11% shareholding in public unlisted Australian exploration company, Condamine Resources, who is developing a suite of interesting looking gold plays in New Zealand. Condamine holds 4 high grade projects in the historical Reefton Goldfield on the South Island of New Zealand and the investment by Blina will provide additional funding for Condamine to start drilling campaigns, programmed for the first half of 2019.

Image Resources has banked its first cheque from the export of heavy mineral sands concentrate from its zircon-rich Boonanarring mineral sands mine located in the North Perth Basin region of WA. The first bulk shipment of about 10,000 wet metric tonnes of concentrate was shipped from Bunbury Port this week, with payment secured via a letter of credit from Image’s Chinese off-take partner, Natfort.

Calima Energy has successfully intersected the target Montney formation in the first of three gas wells completed in British Columbia, Canada, reporting that a 230m vertical section of the rock sequence was recovered at a depth of about 1.5km below surface. The company said that elevated gas readings were encountered during the drilling program, with gas escape bubbles noted at the base of the drilling rig during operations.

Strike Energy has agreed to share the rig mobilisation costs with another Perth Basin operator to drill its exciting West Erregulla gas permit just north of Perth in WA, with the program expected to kick off in May. Recent reprocessed 3D seismic work produced gas volume estimates ranging between 607 and 1,296 billion cubic feet for the Kingia-High Cliff targets, with a best estimate of 916 bcf.

ASX listed Biotech upstart PharmAust says that its ongoing clinical research in Melbourne is demonstrating that its anti-cancer drug, Monepantel’s principle end-product, metabolite Monepantel Sulfone, retains the same biological activity as the drug itself. The metabolite shows little side effects upon healthy, non-cancerous cells and works together with Monepantel, producing a “double kick” in eliminating cancer cells. Reduced dosing treatments are envisaged for upcoming canine and human trials.

Caravel Minerals has drilled multiple zones of thick copper mineralisation at the Dasher prospect within its namesake project, located northeast of Perth in the Wheatbelt region of WA. Best intersections include 56m @ 0.53% copper from 18m down-hole and a new deeper discovery of 31.7m grading 0.42% copper from 146m down-hole that included a higher grade 13.7m section going 0.61% copper from 164m.

Metalicity has appointed Non-Executive Director Mathew Longworth as its new Chief Executive Officer to drive the company’s new focus on the exploration for copper and nickel in the sought after Paterson province of the Pilbara region in Western Australia. This follows founding Managing Director Matt Gauci’s decision to step down from his position with effect from 10 January 2019.

Rare earth element developer Greenland Minerals has chosen leading Chinese technical group BTMR Laboratories to supervise the optimisation of its Kvanefjeld project ore flotation circuit in southern Greenland, based on recent work showing recoveries above 80% and concentrate grades exceeding 22% rare earth oxide. The encouraging metallurgical results are likely to materially reduce operating and capital expenditure requirements at the massive project.

Azumah Resources has unearthed more high grade gold hits of 1m @ 140.49g/t gold from 208m down-hole and 5m @ 6.02g/t gold from 214m at the Kunche deposit of its flagship Wa project in Ghana. This has extended mineralisation at Kunche to about 200m below surface, confirming that the mineralisation of the deposit extends to depth and remains open at present