Public Company News

Aruma Resources is set to up the ante in its pursuit of rare earths at its Saltwater project in the Pilbara in Western Australia. The company holds 80km of strike and has tabled previous assays of up to 11 per cent rare earths. Aruma plans to use surface mapping and sampling before geophysical surveys to better define drill targets for unconformity hosted heavy rare earths similar to those in the Athabasca Basin in Canada and the Tanami based Browns Range project.

Classic Minerals has made significant progress on the construction of its Kat Gap gold processing plant with both internal and external concrete foundations completed. The company says the external foundations will support the beneficiation plant whilst the internal concrete slab will be used to support the gold room.

ASX-listed biotech Chimeric Therapeutics, a clinical stage cell-therapy company has pocketed a research and development tax refund worth more than $3 million. The company says the refund is in recognition of its activities during the 2022 financial year and the rebate will provide important funding for continued development of its portfolio of cell therapies that tackle cancer.

Valor Resources has racked up an enviable list of high-priority polymetallic prospects at its Picha and Charaque projects in Peru. The company has been toiling away in the rich Peruvian mountains proving up a clutch of new targets as it prepares to wheel the drill rig in for a maiden diamond drilling program across its prospective acreage.

Godolphin Resources has sent 31 diamond drilling core samples from its latest program at the company’s Narraburra project to Australia’s leading authority on mineral and metallurgical testing. The samples form part of Narraburra’s updated mineral resource estimate to JORC 2012 standards which is expected in March. The test work will provide a better understanding of the NSW project’s rare earth elements and rare metals composition.

ASX-listed Valor Resources has finalised a review of historical exploration results on its three recently staked mineral claims immediately west of its Canadian Surprise Creek uranium project and has delineated three new significant copper targets. The company says the area has had surprisingly minimal modern exploration in the last 40 years. The company’s new mineral claims cover an area of 44 square kilometres and were acquired in November 2022.

Infinity Mining has bagged a five-year extension for its Tambourah South tenement in the Pilbara where previous rock chip sampling has latched on to a pegmatite swarm grading up to 2.65 per cent lithium oxide. The project sits in the evolving Pilbara pegmatite province home to Pilbara Minerals’ 305 million tonne Pilgangoora lithium project averaging 1.1 per cent lithium oxide.

Toro Energy has landed its thickest massive nickel sulphide intersection so far at its Dimma project in the Yandal greenstone belt in WA. The company says its latest diamond drilling campaign unveiled a 4.5m of continuous massive nickel sulphide from 194.3m downhole. All three drill holes drilled so far at Dimma have intersected massive nickel sulphides indicating the discovery remains open in all directions. Toro has now discovered four nickel sulphide zones and tested less than half of the 7km strike of its host Dusty komatiite rock unit.

Radiopharm Theranostics is aiming for the Big Apple. The Melbourne-based medical technology company that specialises in developing radiopharmaceutical products to diagnose and treat cancers is applying to list on the Nasdaq. If successful, the company expects to be given the ticker RADX. The Nasdaq listing will complement the existing primary listing of its ordinary shares with the ticker RAD on the ASX.

Billionaire geologist Robert Friedland’s Oyu Tolgoi copper-gold discovery in Mongolia is of biblical proportions and just 120kms to its north west, ASX-listed Xanadu Mines is onto a copper-gold discovery that has already ticked over a billion-tonne resource and counting. Xanadu’s Kharmagtai deposit is now taunting the market with its potential in a region that is capable of brewing ridiculous sized mineral deposits like Oyu Tolgoi.

Origin Energy has agreed to assign its interests in joint venture exploration permits in WA’s Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.

Budding silver miner Adriatic Metals has drawn down its second $30m tranche, along with accessing an additional $22.5m from a $142.5m debt package to steer development of its high-grade Vares silver mine in Bosnia and Herzegovina. It is all systems go as the company passes the halfway mark of construction with production of the first concentrate slated for the third quarter of 2023.