Public Company News

In the final stretch of a long race to reach a coveted cup, ASX-listed Buru Energy has encountered hydrocarbons above the targeted Ungani Dolomite at Rafael 1 in the oil-rich Canning Basin of northern Western Australia. With the well at 3,872m and a finish line of 4,000m the board and investors are keenly awaiting the news to come.

Horizon Minerals has increased the mineral resource estimate at its recently acquired and well-advanced Cannon gold project, located a short trucking distance from the company’s flagship Boorara gold project on the south east fringes of Kalgoorlie. The mineral resource review was conducted independently and upgraded the current estimate by over 8,000 ounces gold to 32,070 ounces grading an impressive 4.29 grams per tonne gold.

ASX-listed, King River Resources has upped the ante in its push to produce high value aluminium precursor compounds used in lithium-ion batteries. Laboratory test work on the company’s already developed 5N purity Type 1 precursor has now added to King River’s repertoire of products with development of a Type 2 precursor - an aluminium compound for use in lithium-ion battery cathodes.

Barton Gold has discovered a new 800m long gold lode at its Tunkillia gold project in South Australia. First assay results from the phase 1 drilling program have confirmed a significant shallow gold zone located approximately 500m northwest of the main 223 deposit. The new 223 North discovery extends the total mineralised strike at Tunkillia by around 30 per cent to 3.3km.

Quantum Graphite has racked up a slew of solid graphite hits at its Uley 2 and Uley 3 prospects in South Australia. Noteworthy grades include 7.9 metres grading 10.8 per cent total graphitic content from 36.9m, a 14.2m intercept going 8.0 per cent total graphitic content from 62.8m downhole and 17.9m grading 6.6 per cent total graphitic content from 34.7m.

Comet Resources could be about to dust off the maracas after assays from an eight-hole, 2,250 metre drilling program completed at its Santa Teresa Gold project in Mexico delivered a suite of high-grade gold hits which included “bonanza” grades. Some of the better intersections included 1.2 metres grading 63.2 grams per tonne gold from 124.8m.

Zuleika Gold has revived its 2021 drilling program at its flagship Zuleika and Credo projects near Kalgoorlie in Western Australia, targeting a series of priority prospects with over 8,000 metres of aircore and RC drilling. The company says the campaign is aimed at following up strong scores from previous drilling where results included an 11m hit going 1.3 grams per tonne gold from 40m.

Aurum Resources is set to hit the boards at the ASX after an oversubscribed initial public offering of nickel-copper explorer Aldoro Resources’ gold assets. Aurum has raised $5 million to fast track the development of its underexplored gold projects in WA’s East Murchison region. Aurum will prioritise its Penny South gold project that already has some cracking drill results that were inexplicably never followed up.

Estrella Resources has intercepted three zones of nickel-copper sulphides with a 60 metre step-out diamond drill hole below its T5 nickel-copper discovery near Kalgoorlie in WA. The company says each of the three zones contained thick widths of massive sulphides over the last 170m of the drill hole.

The rods are spinning at Aruma Resources' Salmon Gums gold project in WA’s goldfields region. The Perth-based junior explorer has planned up to 5,000 meters of reverse circulation drilling in its maiden drill program that will test multiple geochemical targets over an 8.5km stratigraphic trend that is directly along strike from JV partners Pantoro-Tulla’s high-grade Scotia Gold project.

Oar Resources has kick started a maiden diamond drilling campaign at its Douglas Canyon gold project in Nevada, USA. The company has initiated a four-hole, 1000m program targeting near-surface mineralisation in the first two holes and testing down dip depth extensions with the latter two holes. Results from previous exploration at the project include grades as high as 18 grams per tonne gold and 398 g/t silver.

Industrial innovation specialist Aurora Labs has hit an important milestone in the development of its signature 3D metal printing technology, with an independent evaluation demonstrating its effectiveness and the company declaring the product “commercially ready”. Aurora has completed successful trial printing of stainless steel components for customers that include BAE Systems Maritime Australia for the Navy’s Hunter Class Frigate Program.