Public Company News

In a move that will bring Horizon Minerals’ gold assets to the fore, the Perth-based company will divest its Nadine Well West Australian copper project to Cyprium Metals Limited for $1.5m in cash and Cyprium shares in a deal that will see Horizon retain exposure to the prospective copper-gold-PGM region in the Murchison district.

Troy Resources has weathered the challenges of Guyana’s wet season, producing impressive drilling results while maintaining operations at its Karouni gold project in South America. The standout diamond drilling results from underneath the existing Smarts open pit include a 32-metre zone grading 4.29 grams per tonne gold from 168m down hole. At the Goldstar prospect, near surface RC results also include 17m grading 2.21g/t gold from just 3m.

Emerging ASX-listed gold player Calidus Resources is set to kick off an initial round of regional drilling at its recently acquired Otways gold-copper project in the Pilbara, in tandem with continued drilling to beef up a maiden ore reserve estimate at its developing Warrawoona gold asset, about 50km away also in the Pilbara.

Hot Chili has the drill rigs firing again at its Cortadera copper-gold project in Chile, zeroing in on extensions to the high-grade zones across a 2.3km strike that is likely to form the backbone of an imminent maiden resource at the project. Hot Chili has doubled the size of the mineralised system in less than 18 months at Cortadera which the company believes may propel it to Tier 1 status.

ASX-listed oiler, 88 Energy will now mop up all remaining stock in its Alaskan neighbour, XCD Energy, after its takeover bid secured 90.97 per cent of XCD’s shares and 93.31 per cent of listed options. Its all-scrip bid as originally announced back in April went unconditional last month after the company achieved the 50 per cent required threshold.

ASX-listed high purity alumina player Altech Chemicals has reached the next construction milestone of its proposed US$280 million processing plant development at Johor Bahru in Malaysia as it works towards a production start-up target of 2023. Engineering, procurement, construction and commissioning contractor, German engineering firm SMS, has now completed the remaining component of the Johor Bahru project’s stage two work – an electrical substation – at the Altech plant site.

As Novo Resources ramps up to a full 2020 exploration program capacity, the company has continued to produce impressive results showing ‘proof-of-concept’ that its Egina Terrace in the Pilbara is host to an extensive shallow gold-bearing gravel deposit. Bulk samples from broad areas across the Egina mining lease have yielded gold particle counts exceeding 48 particles per tonne from consecutive sample pits.

Uranium exploration is undergoing a resurgence as the world grapples with the challenge of feeding a seemingly unending appetite for energy. Against this backdrop, ASX-listed Deep Yellow is sitting on a veritable powerhouse of potentially stored nuclear energy across its portfolio of Namibian uranium projects. The latest drilling results from its Nova JV point to what could be the addition of another significantly mineralised system.

Classic Minerals has reported a spectacular high-grade gold drill hit from a new mineralised zone at its Kat Gap deposit in WA. The company’s resumed drilling campaign returned an intersection of 4m grading 76.72g/t gold from 79m depth including 1m going a whopping 304g/t gold from 82m or an eye-watering 10 ounces of gold per tonne.

Wiluna Mining is continuing to deliver strong results from its namesake project located in the north-eastern Goldfields of Western Australia. The Golden Age deposit and adjacent Lennon Zone are both looking likely to supplement the company’s free milling ore pipeline, with the newly identified material set to improve cash flow for the coming 15 months and assist the company in funding its transition to stage two sulphide ore production.

ASX-listed mining “software-as-a-service” provider, K2fly, has continued to expand its mining software offerings by partnering with Wesfarmers-owned Decipher, to create an integrated monitoring and governance platform for tailings storage facilities. The partnership provides an elegant solution to effectively manage mineral waste – a hot topic concerning industry, regulators and environmentalists.

ASX-listed gold explorer, Great Southern Mining, has launched a new drilling campaign at its 100% owned Mon Ami gold project near Laverton in WA to follow up on previous high-grade RC drill hits. The positive results from its 2018 program culminated in a maiden resource estimate of 1.1 million tonnes of ore averaging 1.7 grams per tonne for a contained 59,000 ounces.