Public Company News

Globe Metals & Mining has launched into its next stage of processing and testwork after extracting a 12-tonne bulk sample from its Kanyika niobium project in Malawi and trucking it to Johannesburg. Management says it has also selected six separate vendors to undertake key operational tasks as the project reaches its next stage of development.

Northern Minerals has kicked off its mission to establish a rock-solid financial structure behind its 100 per cent-owned Browns Range rare earths project in northern Western Australia. Management says the Federal Government’s Northern Australia Infrastructure Facility has completed a strategic review of its project and will now begin a detailed due diligence process as it considers a potential funding arrangement.

Galan Lithium has kicked off pre-construction activities at its Hombre Muerto West lithium brine project in Argentina after being granted its development permits by the local Mines Department Minister. The permit allows the company to start the commissioning of its new camp, begin removal of top-soil and enter preliminary testing activities for securing the ground quality.

ASX-listed Valor Resources has signed an earn-in agreement with global copper and gold producer Barrick Gold Corporation at its Charaque project in Peru. Under the deal, Barrick has a five-year option to acquire 70 per cent of the operation for a cash payment of $1.2 million. Valor says the agreement allows it to focus on the upcoming drill campaign at its flagship Picha copper project.

Strickland Metals has entered into a binding agreement to sell its Millrose gold project to neighbouring global gold miner Northern Star Resources in a deal worth about $61 million. The deal has netted the company $41 million in cash and 1.5 million fully-paid ordinary Northern Star shares, with a $2 million cash deposit paid on the execution of the agreement.

ASX-listed explorer Gold Mountain’s stock doubled from 0.0035 cents to 0.007c after it unveiled a massive land acquisition in prime lithium real estate in Brazil. Management says its 3921sq-km package gives the company the biggest footprint of any Australian explorer in the region as it looks to transform from gold explorer to lithium player.

Oil explorer 88 Energy has confirmed it has multiple targets waiting to be tested at Project Phoenix once the Alaskan winter operation season begins in October. While the company waits to get boots on the ground, it plans to comb over scores of mud gas isotubes and wireline data in a bid to get a better understanding of the project’s composition.

Brightstar Resources has cracked the magical million-ounce milestone after upgrading the resource for its Cork Tree Well deposit to a total of 1.02 million gold ounces across its Laverton and Menzies projects. The independently-completed upgrade at the deposit saw Cork Tree Well increase by 20 per cent from 252,000 gold ounces up to 303,000 ounces of the precious yellow metal.

ASX-listed Kalgoorlie Gold Mining has highlighted a gold-mineralised corridor with a strike length of nearly 7km following reconnaissance fieldwork across its Zelica project in Western Australia’s Eastern Goldfields region. The company has recorded high-grade gold mineralisation in near-surface quartz veining, including results of up to 39.6 grams per tonne gold and 6.44g/t gold from rock chip samples at its West Nest prospect.

American West Metals has continued to ride a copper wave at its Storm project in Canada after revealing more thick and high-grade intervals near surface, with a headline 1.5m hit going an impressive 8 per cent. The company says its “outstanding results” point to the ongoing consistency and scale of its copper mineralisation … with the promise of more to come.

TSX-listed Novo Resources has secured the support of giant neighbour De Grey Mining as a cornerstone investor and potential joint venture (JV) partner in a deal worth up to $35 million at the Becher gold project in WA’s Pilbara region. De Grey could earn a 50 per cent interest in the project and adjacent tenements as part of the deal.

Estrella Resources’ share price doubled this morning on the back of the company revealing an impending world-first helicopter-borne electromagnetic survey (TargetEM) at its Carr Boyd nickel-copper-PGE project in Western Australia. Given the significant technology and sensitivity upgrades of its new system, Estrella is intensifying its hunt for drill targets that previously evaded detection while using the older technology.