Public Company News

Joint venture partners Venus Metals Corporation and Rox Resources have released a scoping study for their Youanmi gold project near Mt Magnet in WA which includes a projected production of 71,000 gold ounces per year. The study predicts the site will be capable of producing about 569,000 gold ounces over an eight-year mine life at an average head grade of 5 grams per tonne gold.

WA-focused explorer Horizon Minerals has executed a binding term sheet with US-based resources financer, Nebari Partners LLC, for a US$5 million senior secured credit facility to develop the company’s Cannon gold project in WA. The funding agreement comes hot on the heels of Horizon’s A$300,000 sale of its Kangaroo Hill and Phoenix gold projects to Greenstone Resources earlier this month as it looks to lean down and focus on the more-advanced assets in its portfolio.

Ora Banda Mining has recorded high-grade hits from extensional drilling at its Main Lode prospect under the Riverina open pit that has increased mineralisation at the deposit to more than 350m below surface. The company has completed 12 holes of a planned 30-hole campaign at the project north-west of Kalgoorlie with assay highlights including a 1.2m hit at an impressive 29.3 grams per tonne gold from 359m in addition to 2.8m going 6 g/t gold from 357m.

Medical technology specialist Radiopharm Theranostics is gearing up to approach the powerful US Federal Food and Drug Administration, or “FDA” to get its cancer treatment known as “Pivalate” to market after successfully concluding a phase II clinical trial in the UK. The trial indicated that Pivalate can detect and monitor secondary brain tumours regardless of the origin of the primary cancer.

Estrella Resources has announced an upgrade of the nickel resource estimate at its Spargoville project’s 5A deposit, 20km south-west of Kambalda, with most of the resource now in the more confident “measured” category. Estrella is pressing ahead with optimisation work for a definitive feasibility study and is focused on 16 000 tonnes of massive sulphide grading 7.8 per cent nickel below 5A’s existing open pit.

Kalgoorlie Gold Mining has begun testing three prospects in the WA Goldfields with a short RC drill campaign aimed at firming up the extent of gold mineralisation at its Bulong Taurus project about 35km east of Kalgoorlie. The company has secured a total of 39 gold rights comprising an exploration licence, mining tenements and prospecting licences on land that has been mined since the 1890s.

Final assay results from phase 3 drilling at Askari Metals’ Burracoppin project show continuity of high-grade mineralisation at its Easter Gift prospect with a 1m hit coming in at an impressive 45.5 grams per tonne gold. The 45.5 gram hit was contained within a wider 3m section grading 17.41 g/t gold from 73m that also included 1m at 2.18 g/t from 74m and 1m recording 4.54 g/t gold from 75m.

Classic Minerals has entered into a non-binding Memorandum of Understanding with private company Barto Gold Mining for the toll treatment of ore from the company’s flagship Kat Gap gold deposit in WA. The non-binding agreement comes not long after the ink dried on Classic’s terms sheet with another private company Goldvalley Brown Stone for $10 million in non-recourse funding to facilitate the extraction and processing of its ore.

Strickland Metals is on a roll returning its best assay results to date from its recently discovered Wanamaker deposit in Western Australia serving up a 7m hit at an exciting 22.2 g/t gold. The latest assay result comes from drilling 50m north of where the initial Wanamaker discovery was made and extends the mineralisation footprint of the Millrose project to more than 3.2 kilometres.

USA-focused mineral explorer PolarX has been buoyed by a recently completed scoping study on its Alaska Range copper-gold project highlighting a potential NPV of $103m from the combined mining of the project’s high-grade Zackly copper-gold-silver and Caribou Dome copper deposits. It also confirmed the project’s potential viability and leverage from future resource expansions.

Infinity Mining is set to hit the go button on a maiden drilling program at its Tambourah South lithium project in the east Pilbara region of WA after ASX-listed Riversgold completed a heritage survey over a contiguous tenement. The company required Riversgold to complete the work to mobilise earth moving equipment to its tenement and is now set to follow up on a suite of solid rock chip results which graded up to 2.6 per cent lithium oxide.

Si6 Metals has kicked off a follow-up air-core drilling program at the company’s Monument gold project in WA’s Goldfields region. The 120-hole campaign will probe 6000m across four high-priority target areas as the company looks to build on wide zones of gold mineralisation encountered in May. About a quarter of the air-core volley will be aimed at potential extensions of Glencore’s world-class Murrin Murrin nickel laterite operation proximal to the south-west.