Public Company News

88 Energy has cracked 1,512 feet, or 460 metres, as it drills its way towards its highly anticipated 600-million-barrel prospective oil target at an interpreted depth of 6,000 feet, or 1,829 metres, below the frozen arctic ground in Alaska. Its moment of truth will arrive in just three to five days when it will get to test the reservoir sands of the oil-rich Nanushuk formation target.

Coda Minerals continues to receive solid results from its copper discovery at Emmie Bluff in SA including 7.58 metres at 1.51, however it is now casting its eye further afield as it looks to build a pipeline of copper projects in Australia, with the company picking up the interesting looking Cameron River copper project near Mt Isa in Queensland.

Horizon Minerals has completed its agreement to buy a 50 per cent interest in the high-grade Penny’s Find underground satellite gold deposit in WA’s Eastern Goldfields for $1.5 million cash. As part of the acquisition, Horizon has also committed to sink a further $1 million in pre-development expenditure into the ground to firm up a mineral resource estimate for the historic gold mine about 50km north-east of Kalgoorlie.

ASX-listed InteliCare has launched its latest product offering known as “InteliLiving Health Metrics”, which harnesses artificial intelligence to provide real-time reporting and insights of personal health metrics to assist in caring for the elderly disabled. InteliCare’s latest analytics offering integrates with wearable smart health devices to monitor personal biometrics in real time, enhancing its remote home and aged care facility-based smart monitoring solutions.

Northern Minerals has passed another significant milestone after producing more than 210,000 kilograms of heavy rare earth carbonate concentrate for sale to end-users. A 40,406kg shipment of concentrate from Northern’s Browns Range rare earths pilot plant is due to be dispatched to its European offtake partner within days. The shipment will contain dysprosium, terbium and yttrium.

Adriatic Metals continues to deliver the goods at the Raska project in Serbia with more wide shallow zinc hits including 36m at 3.7 per cent zinc, 1.4 per cent lead, 21 g/t silver and 0.2 g/t gold from surface. A third rig is due on site next month as the company targets a maiden JORC resource this year.

ASX-listed WA agribusiness avocado orchard developer, Alterra Ltd says it expects to bank nearly $700,000 courtesy of the Federal Government’s research and development tax incentive scheme. According to the company, the government scheme, administered by the ATO, recognises the innovative avocado growing methodology it has implemented across the initial five-hectare planting out of its flagship Carpenters avocado project development in WA’s South West.

Things are starting to get interesting for White Cliff Minerals in the Goldfields of WA with results from two gold drilling campaigns at the Reedy South project soon to be tabled as the company looks to grow its current resource base. New targets for follow-up testing in the second quarter and throughout the year are also being generated.

ASX-listed explorer, Comet Resources has struck an agreement to buy a portfolio of prospective greenfields base and precious metals properties in the Northern Territory in a scrip-dominated staged payment deal worth under $1 million. The tenements package consists of several exploration licences and licence applications spanning an area of approximately 840 square kilometres that take in the Oonagalabi copper-zinc, Paradise Well copper-gold and Silver Valley copper-gold-silver-lead projects.

ASX-listed Venture Minerals has started building a key piece of production infrastructure at its rejuvenated Riley iron ore project in north-west Tasmania, with structural, mechanical, piping and electrical installation of the wet screening plant now well under way. Construction of the plant will be followed by its commissioning, which the company expects to take place late next month.

Si6 Metals appears to have locked onto extensions of its Maibele nickel deposit in Botswana, with drilling 200 metres along strike from the known resource intersecting massive sulphide stringers that returned anomalous assays of both nickel and copper mineralisation. Diamond drilling is testing a new, recently identified hanging-wall sulphide lode, which lies around 200 metres to the south-east of the existing Maibele North deposit.

Kairos Minerals is getting into full swing with the commencement of a drilling blitz across two projects in WA. A 3,000-metre campaign at Roe Hills targeting nickel and gold is due to start early next month, whilst another 20,000m campaign is looking to grow existing gold resources at Mt York in the Pilbara. Both are due to start mid-April.