Public Company News

Valor Resources says it is encouraged by results from ongoing geochemical and geophysical surveys in its hunt for Peruvian copper and silver at its Picha project after the company nailed a 1.2km by 2km open geophysical anomaly. It said the anomaly identified by the Induced Polarisation survey potentially represents a large porphyry copper system, which remains open to the south.

Empire Energy is now planning a follow up fraccing program with its US consultants to test a 192m long horizontal drill section at its recently completed Carpentaria-2H well in the Beetaloo Basin’s Velkerri Formation. The 192m section is thought to be the longest ever horizontal well ever drilled in the Beetaloo Basin’s Velkerri Formation. Carpentaria-2H is already showing early signs of liquids-rich shale gas.

Barton Gold has completed a first phase trial of next-generation portable exploration technology developed by the CSIRO at the company’s Tarcoola gold project in SA. The revolutionary new technology returns gold values in the field in as little as 8 hours versus several weeks for conventional laboratory-based assays. The trial is co-funded by the SA Government, who kicked in an extra $100,000 under its Accelerated Discovery Initiative.

Manufacturer and distributor of well-known home and hygiene products, ASX-listed Pental Limited could be in for a cracking lift in earnings after releasing its guidance to the market for the first half of the 2022 financial year. It expects underlying EBIT for the half year to clock in at about $6.5 million, a spectacular 53 per cent uplift on the previous corresponding period.

Askari Metals has a busy schedule ahead with multiple rock chip sampling, soil sampling, drone magnetic surveys and drilling campaigns planned across its prospective looking West Australian tenure. The company also recently snapped up some prime lithium real estate at its Red Peak project north of Meekatharra that boasts lithium bearing pegmatites never previously explored for lithium.

Podium Minerals has stepped up its hunt for more platinum group metals to add to the company’s 2.2 million ounce combined platinum, palladium and gold resource at its Parks Reef project in WA. More than 12,000 metres of drilling is planned for the new year as a separate three-hole campaign to test grade continuity and thickness of the mineralised reef at depth draws to a close.

Venture Minerals has ended the year with a bang after new drilling at its Mount Lindsay tin-tungsten project in Tasmania included a monster-sized 147m drill intersection going 1 per cent tin and 0.2 per cent tungsten. The latest stellar results sent the company’s share price soaring by more than 27 per cent in intraday trading.

CZR Resources has wrapped up an infill drilling campaign designed to grow the reserves and boost anticipated production from 2mt to 3mt per annum at its Robe Mesa iron ore deposit in WA . The updated reserve estimate will feed into an ongoing definitive feasibility study that will benefit from the infill drilling campaign consisting of 164 RC holes for 7,803 metres within the resource envelope.

Panther Metals has wasted no time getting stuck into its maiden RC drill campaign targeting nickel sulphides at the company’s Coglia project in WA after listing on the ASX only last week. The planned 6,000 metre program will explore the deeper nickel sulphide potential at the Coglia nickel-cobalt project southeast of Laverton before shifting focus to its Eight Foot Well gold project nearby.

Middle Island Resources has sold its Sandstone gold project and processing plant to Aurumin for $6m cash and $6m in Aurumin shares. The deal allows Middle Island to maintain some upside to the project via its Aurumin holdings whilst it takes its $6m in cash up to Tennant Creek in the NT where it is planning to hit the turbo charge button on its copper gold portfolio.

A first pass reconnaissance trip by White Cliff Minerals at its Yinnetharra lithium and rare earths exploration project has yielded encouraging early results. Samples of pegmatite dykes have been sent for laboratory assay and White Cliff said it would aggressively advance exploration now at its Yinnetharra project that sits some 100 kilometres northeast of the Gascoyne Junction in WA.

Kula Gold has polished off a diamond drilling program at its Crayfish gold target in the fruitful Southern Cross goldfields of WA, intersecting a trifecta of greenstone and quartz veins in each of the three holes plunged. The company is now set to run its geological interpretation thumb across its latest samples and push its new core to a laboratory for assay analysis.