Public Company News

Askari Metals’ is poised for follow-up work at its Springdale project in New South Wales after a second reconnaissance rock-sampling program turned up gold grades up to 56.7 grams per tonne, with the top 20 samples averaging 12.34g/t. The company says the program turned up granite-hosted and structurally-controlled gold mineralisation related to local intrusives, faulting and shearing.

A technical review of Octava Minerals’ Talga project in Western Australia’s Pilbara region has revealed fractionation typical of LCT pegmatites and stellar gold grades in soil samples of up to 5.45 grams per tonne. The company says the study, conducted by CSA Global, has uncovered a previously unrecognised target zone for pegmatites of more than 100 square kilometres.

Ora Banda Mining is confident it has identified the potential site for its next underground gold mine after unveiling significant results from two holes sunk at the company’s Sand King prospect near Kalgoorlie. Management says the holes were designed to follow up historical drilling from the 1980s that showed potential for mineralisation at depth, with the known strike of Sand King at more than 800m.

K2fly has grown its annual recurring revenue (ARR) for a 13th straight quarter, revealing a 6 per cent jump up to $7.9 million in the company’s latest financial disclosure … and it says there is still room to expand. Management says ARR was up 22 per cent on last year’s corresponding quarter, while comparative revenue increased by 29 per cent.

Auric Mining has topped its record price for gold sales from its Jeffreys Find mine near Norseman after selling 1264 ounces at $3131 per ounce to the Perth Mint for a gross revenue of nearly $3.9 million. The joint venture operation between Auric and Kalgoorlie-based BML Ventures has now sold 8293 ounces from the gold mine for a gross revenue of close to $25 million.

The US Food and Drug Administration has provided crucial investigational new drug clearance for Australian clinical-stage cell therapy company Chimeric Therapeutics to begin trials using its “CHM 2101" gastrointestinal cancer therapy. The company plans to start testing the drug in multiple medical centres next year for patients with advanced colorectal cancer, gastric cancer and neuroendocrine tumours.

A record breaking 29 per cent increase in battery collection, an agreement with MinRes and the fifth consecutive quarter of gross profits have rounded a solid quarter for Lithium Australia. The company collected a whopping 413 tonnes of batteries last quarter, with higher-margin Lithium-ion batteries representing 44 per cent of collections that it will harvest lucrative battery metals from.

Australian explorer Gold Mountain has picked up lithium in soil samples over a 2.5km long zone at its new Salitre project in Brazil that it says could extend out to 8km in length. The anomalous zone also shows caesium, tantalum and tin and remains open to the north and south. Two nearby anomalies also require more sampling to resolve.

Business goliath Wesfarmers will pump $26m into Ora Banda Mining to buy 65 per cent of the lithium rights at the company’s Davyhurst gold project north of Kalgoorlie. The move follows the discovery of lithium at Davyhurst back in April and will also see Ora Banda pick up a 2 per cent royalty. Ora Banda plans to monetise its royalty up front, courtesy of a partial sale to a third party.

GreenTech Metals has snagged rock chips going up to 1.82 per cent lithium oxide over a combined 11.5km of strike at its North Kobe and South Pegmatite zones in the West Pilbara. The results demonstrate the elevated lithium grades and potential scale opportunity offered by LCT pegmatites in Greentech’s 100 per cent owned Ruth Well and adjoining Osborne tenements, the latter of which is just 25km west along strike from the Azure Minerals massive Andover lithium discovery.

88 Energy hopes to bolster its Phoenix project in Alaska this month by certifying a maiden contingent resource for the lower basin floor fan reservoir intersected by the Hickory-1well in March this year. The pay zone was drilled and flow tested successfully by neighbouring company Patheon Resources on its ground to the north, resulting in a significant 962.5 million barrels of total marketable liquid as a best estimate contingent resource for the reservoir.

DiscovEx says that its joint venture partner Carnaby Resources has completed its maiden interim mineral resource for its Greater Duchess iron oxide copper gold (IOCG) project of 21.8 million tonnes just 70km southeast of Mt. Isa in Queensland. The Greater Duchess Project includes the “Southern Hub” tenements in the Mt. Isa Region of Queensland where DiscovEx holds a 17.5 per cent free-carried interest in 12 exploration permits for minerals.