Public Company News

88 Energy’s move to Texas is putting some colour into the ASX-listed company’s bank account after it banked the first A$600,000 cheque in March from its Project Longhorn. The company has lifted production from the Permian Basin project by over 30 per cent to more than 400 barrels of oil equivalent per day after the first of its planned capital-efficient workovers.

White Cliff Minerals has bolstered its battery metals ambitions after completing the acquisition of explorer Abraxis Mining and its trinity of WA-based tenement applications in the Pilbara that are prospective for lithium. According to the company, a subsequent review of remote satellite data has uncovered a network of pegmatite-rich target areas that will be further assessed through a maiden mapping and sampling program.

Triangle Energy’s imminent acquisition of a highly prospective Perth Basin block has been boosted by news it has delivered a 370 per cent increase in its best gas resource estimate – from 165 billion cubic feet of gas to 617bcf. Triangle is buying the 50 per cent it doesn’t already own in the acreage from departing partner Key Petroleum.

St George Mining has intersected nickel-copper sulphides in the second drillhole targeting an extension to its high-grade Stricklands deposit in WA. Nickel-copper sulphides were located from 102.7m to 106.3m downhole including 0.25m of massive sulphides abutting the granite contact from 106.05-106.3m. Drilling has confirmed a western extension of approximately 35m to the existing high-grade Stricklands deposit with mineralisation open down dip.

Mineral explorer DiscovEx Resources has outlined several additional target areas at its flagship Sylvania gold project about 15kms south of Newman in WA. The company recently wrapped a field exploration campaign that included gravity-based geophysics, geochemical sampling and a heritage survey and it is now gearing up to complete mapping, sampling and more geophysics en route to a maiden drill program at the project.

Junior explorer, Legend Mining has set the rods spinning with a diamond drilling program at its Mawson nickel, copper and cobalt discovery in the Fraser Range of Western Australia. The drilling program is designed to test the source of several intriguing seismic anomalies etched out from a recently completed 3D seismic survey.

Junior explorer, Superior Resources has boosted its Steam Engine gold resource to 196,000 ounces representing an increase of over 60 per cent compared to previous calculations incorporating a lower grade owner-operated processing model. The latest resource estimate takes in an additional 85 reverse circulation drill holes completed during the company’s 2021 drilling blitz at its Greenvale project in northern Queensland.

ASX-listed Cyclone Metals has unearthed gold nuggets weighing up to 20.5 grams at its wholly-owned Nickol River project in Western Australia’s West Pilbara region. The latest nuggets come from the 18 test pits dug in January and total 76 grams of the precious yellow metal. The explorer says with the latest results in hand, planning for a maiden drill program will now begin.

American West Metals says the results of a recent ore sorting program using material from its high-grade Storm copper project in Canada have delivered extraordinary results that could be a “game changer” for the project’s development. The company said test work using a full-scale ore sorter has generated a direct shipping ore product with a copper grade of 53.9 per cent free of impurities.

Junior explorer Venus Metals Corporation and its joint venture partner ASX-listed Rox Resources have encountered more high-grade results ahead of a near-surface resource update at the Youanmi gold project near Mount Magnet in WA. Results from the latest drilling include significant hits up to 1m running 13.44 g/t gold which will feed into a near-surface mineral resource update expected in the next two weeks.

Results from Valor Resources’ maiden drilling program at its Hook Lake uranium project have yielded encouraging results with elevated radioactivity in several holes at the S-Zone target. Valor is also planning an airborne gravity survey next month at its Hook Lake and the Cluff Lake projects and further drilling to chase up earlier rare earths results.

Coda Minerals’ off-market takeover of its joint venture partner Torrens Mining has been declared "unconditional", with Torrens shareholders to pocket 0.23 Coda shares for each Torrens unit held.