Public Company News

Things just got interesting in 88 Energy’s oil hunt at its Project Peregrine in the revered North Slope of Alaska with post-well evaluation of the Merlin-1 well demonstrating the presence of oil in three reservoirs. Results from the well have led to a targeted mean total prospective resource at the project of a whopping 1.6 billion barrels of oil. An appraisal well is now on the cards.

Superior Resources has delivered a 10m gold intercept going 2.8 g/t gold from the first hole at the Steam Engine lode, located at its Greenvale project 210km west of Townsville in Queensland. The result, in conjunction with visual observations of thick mineralised zones in other holes, has prompted the company to launch into another 5,000m of drilling aiming to grow the 122,000-ounce deposit at the Steam Engine prospect.

Perth-based miner Calidus Resources is on track to become Australia’s next gold producer. Construction at the company’s Warrawoona gold operation in the Pilbara region is now more than 50 per cent complete and Calidus is on target to deliver its first gold pour in the first half of next year, defying the challenges of labour shortages and supply disruptions.

ASX-listed Eclipse Metals is casting an eye over nearly 20 kilometres of historic drill core from its Ivittuut project in southwest Greenland as it follows up rock chip sample assays of up to 34,400 parts per million total rare earth elements.

ASX-listed central African lithium developer AVZ Minerals has completed four diamond drill holes on the Carriere de l’Este prospect at its flagship Manono hard-rock lithium and tin project in the Democratic Republic of Congo. Intercepts grading up to 2.49 per cent lithium oxide have extended the known lithium and tin mineralisation over an impressive strike length of 1.2km.

St George Mining has opened up exploration on a second front and is now hunting giant copper deposits in one of WA’s most enigmatic mineral terranes – the Paterson province, home to a number of elephant sized mineral deposits. The company’s maiden drill program over its extensive tenure in the region has jagged copper sulphides in several drill holes triggering a move to deeper diamond drilling.

Lithium Australia is looking to patent the proprietary lithium battery recycling technology developed by its subsidiary, Envirostream. One of the two Australian patent applications relates to its process for recovering battery electrode material from end-of-life lithium-ion batteries. The second application encompasses the process for the selective recovery of mixed metal sulphates from a metal sulphate process liquor following leaching of mixed metal material recovered from lithium-ion batteries.

Galan Lithium is set to grow its bank balance by whopping A$50m after receiving firm commitments from institutional and sophisticated investors for a placement that will see the company fast-track exploration and development works across its Hombre Muerto West and Candales lithium brine projects in Argentina’s Salar del Hombre Muerto.

Venus Metals and joint venture partner Rox Resources have continued to rack up high-grade gold hits with infill reverse circulation drilling at their Youanmi gold project in the Murchison district of Western Australia. A cracking 17 metre interval grading 5.14 grams per tonne gold was encountered from 151 metres downhole. Management believes there is strong potential for further increases in the Resource.

Indiana Resources has continued its run of success across South Australia’s revered Gawler Craton, with regional exploration drilling on the gold-rich Labyrinth Shear turning up a new gold discovery along strike from the company’s Ariadne prospect. Better results from the Ariadne East discovery include 8 metres at 1.2 grams per tonne gold from 36m and 4m at 2.28 g/t gold from 40m down-hole.

ASX-listed Neometals’ joint venture company, Primobius GmbH, has successfully commissioned stage one of its showcase lithium-ion battery recycling demonstration plant in Germany. The joint venture company is owned 50:50 by Neometals and SMS group GmbH. The partners have developed an innovative proprietary process that focuses on recovering cobalt and other valuable materials from spent lithium batteries.

Great Southern Mining has rattled the tin for $2.5 million that will largely be funnelled into exploration at its exciting Duketon gold project about 45km north of Laverton in WA’s prolific north-eastern Goldfields. Last week the company reeled off a stellar 59m drill intersection grading 2.1 grams per tonne gold from 53m down hole at the project’s Southern Star prospect.