Public Company News

ASX-listed gold hopeful, Kingwest Resources, has offloaded a couple of non-core assets that are not part of its flagship Menzies gold project, pocketing just over $2 million which it intends to sink into exploration and development drilling work at Menzies. Kingwest’s Menzies project involves a plethora of old gold projects littered across about 10km of strike.

Ora Banda Mining has banked more impressive RC drill hits from its Riverina South prospect as it eyes a maiden resource estimate for the deposit next month. The company is also looking to get into production at its nearby Davyhurst gold processing plant, 120km north-west of Kalgoorlie – based on initially mining several satellite deposits – in early 2021.

Classic Minerals is barrelling down the road to production at Kat Gap near Southern Cross in Western Australia, with its latest test-work showing exceptional recoveries of gold from simple processing techniques. Test work shows that gravity processing and conventional cyanide leaching recovers up to 96 per cent of the contained gold in the Kat Gap ores, paving the pathway to low cost production.

Impact Minerals looks to be tugging on the tail of a tiger with recent geochemical sampling at Apsley in NSW outlining a sizeable anomaly that flaunts all the hallmarks of a classic ‘text-book’ porphyry copper-gold deposit according to the company. Sampling at the company’s Apsley project has highlighted three priority targets for immediate testing with geophysical surveying expected to commence later this month.

Lindian Resources has further bolstered its senior management ranks with another bauxite expert after experienced Guinea Mining Engineer, Danny Keating, was appointed to the role of Chief Executive Officer. The appointment follows hot on the heels of the company also securing the services of 45-year bauxite and alumina veteran, Yves Occello, as a Non-Executive Director.

King River Resources is targeting high-grade gold in the Northern Territory as drilling kicks off at the Lone Star prospect at Tennant Creek. The company is targeting a series of coincident magnetic-gravity anomalies that it is interpreting as potentially the geophysical signature for the high-grade copper-gold rich ironstone ore bodies found in the Tennant Creek mineral field.

ASX-listed Troy Resources has produced a volley of high-grade gold hits from its latest diamond drill program at Karouni in Guyana, South America returning six separate intercepts with grades running as high as an ounce to the tonne. The results extend a stellar run for the Perth-based explorer with 3 of the 5 holes assayed to date returning multiple gold intersections.

Having made the successful transition from explorer to producer, Horizon Minerals has taken advantage of soaring gold prices to rack up a quickfire $2.93 million in revenue from the first 1,050 ounces of gold produced from its Boorara mining operations 10km east of Kalgoorlie.

Lithium Australia’s patent application to take waste rock from a lithium mining operation and turn it directly into a lithium phosphate product suitable for making battery cathodes received a shot in the arm this week. An international examiner has determined the process is “novel, involves an inventive step and is applicable to industry”.

ASX-listed gold hopeful, Middle Island Resources, looks to have struck paydirt at one of its new satellite deposits at its historic Sandstone gold project in WA, returning bonanza RC drill hits from the Ridge prospect that appears to be shaping up as an open pit ore source in its own right.

TNT Mines has delivered a set of smoking hot uranium samples to its assay lab in the USA where they were rejected due to their uber-high levels of radioactivity – a nice problem to have for a uranium explorer. The samples will now be assayed at an alternative lab in Canada that is better equipped to handle them.

ASX-listed gold developer Calidus Resources has taken multiple steps towards gold production at its flagship Warrawoona project in WA’s East Pilbara region with environmental approvals clearing the way for early construction items to be built at the planned $116 million development. The company plans to commence early capital works – including an access road and a 240-person accommodation village – as soon as next month.