Public Company News

MGC Pharmaceuticals expects revenues to rise thanks to strong demand for its range of 18 cannabis based skin care products that has prompted UK luxury retailer Harvey Nichols to make them available in two additional stores. The company said the exposure provided by its skin care products may also provide a ready made pathway to market for its fledgling medicinal cannabis business.

Latest assays from drilling at the San Antonio copper mine suggest Hot Chili may have found a large, high-grade, shallow copper resource that could transform the economics of its flagship Productora development just 20kms away. Best results include 27m at 1.3% copper and 5m @ 2.5% copper. Copper mineralisation is continuous over a 700m strike length and remains open along strike and at depth.

Classic Minerals has implemented an exploration target review of its Fraser Range nickel-copper-cobalt project, located 45km northeast of the famed Nova-Bollinger deposit and less than 10km north of the Creasy Group’s very promising new Silver Knight find in the Fraser Range of W.A. The focus will be on nickel-copper mineralisation at the Mammoth prospect and copper mineralisation at the Alpha prospect, discovered by Classic in 2013.

Legend Mining will carry out a moving loop electromagnetic survey over its intriguing Area D prospect at the Rockford nickel-cobalt-copper project in W.A’s Fraser Range region to identify targets for diamond drilling in the fourth quarter. The 32km2 survey is the first recommendation of a geophysical review over Area D and is expected to take up to six weeks to complete.

Auroch Minerals has commenced its maiden drill program at the Arden base metals project north of Adelaide this week. The 2,500 metre campaign will drill three prospective looking zinc, copper and cobalt targets across the project. The company has previously announced high grade surface base metal assays from the Ragless Range and Kanyaka prospects, whilst Radford Creek showed highly anomalous lead, zinc and silver.

Tyranna Resources has announced that it has finalised the acquisition of the Eureka gold project, located 50km north of Kalgoorlie in W.A. Approved resource development drilling programs will now take place, to bring the project in line with current JORC-compliant standards of reporting. Up to 2,000 metres of drilling has been scheduled and will provide structural information regarding the quartz-hosted gold mineralisation and samples for metallurgical test work.

Artemis Resources has reported a swathe of high grade gold, cobalt and copper drilling intersections from its Carlow Castle project east of Karratha in the Pilbara. Bets results were 22m @ 6.1g/t gold, 0.55% cobalt and 2.35% copper from 133m down-hole at the Carlow Castle South East prospect, whilst the Carlow Castle South prospect produced 31m @ 1.65g/t gold, 0.11% cobalt and 0.47% copper from just 37m.

ASX listed Bellevue Gold has made a bonanza hit of 4.3m @ 58.8g/t gold that is located between two previous high grade intersections at the Viago Lode discovery within its Bellevue gold project. The results have led the company to draw comparisons to the high-grade ore shoots at the historical Bellevue mine in terms of geology, grades and width.

Strike Energy has started pilot testing to confirm the commercial quality of the Jaws-1 deep coal seam gas reservoir at its Southern Cooper Basin Project in South Australia after finalising commissioning activities. The electric submersible pumps will be run at low rates to ensure they are in good working order before being ramped up based on the productivity of the stimulated reservoir.

Southern Gold has added the Deokon gold-silver mine to its growing portfolio of high-grade projects in South Korea. Recent work by Southern at the historic mine has produced some bonanza gold and silver grades grades, suggesting that it may be part of a much larger system that has previously been overlooked. Southern is already producing gold near Kalgoorlie which is funding its blue sky foray into Korea.

Coziron Resources will ramp up its exploration and development activities at the high priority Buddadoo vanadium project and Croydon Top Camp gold project in W.A, following the procurement of $1m from its largest shareholder, the Creasy Group. At Buddadoo, funds will be directed towards drilling and metallurgical studies to prove up a JORC mineral resource, whilst RC drilling will be used to test targets at Top Camp.

Geopacific Resources has discovered high grade gold anomalies from a detailed soil sampling program being undertaken at its Woodlark project in PNG. Samples of up to 6.28g/t gold in soils have defined a corridor over 1.4km long through the historical Watou area. The company also defined 3 clusters of anomalous gold results adjacent to its existing Woodlark King resource, with one anomaly having had no previous exploration.