Public Company News

Carnaby Resources has jagged 3m at 3.2 per cent copper and 2.2 grams per tonne gold – including 1m at 7.6 per cent copper and 3.8g/t gold – at the Lady Fanny prospect within the Greater Duchess joint venture (JV) with Latitude 66 near Mt Isa in Queensland underlining the prospectivity of the deposit to host a greater resource than its 46,500 tonnes of copper equivalent.

Reach Resources has identified new high-priority targets rich in niobium and rare earths after nailing down a comprehensive mapping and sampling campaign at its Wabli Creek project in Western Australia’s Gascoyne region. The company plans to use the results gleaned from its latest work to plan a drilling program that it expects to roll out towards the end of this year.

Surefire Resources has executed a joint co-operation agreement with WA’s Mid West Ports Authority to define the best pathway forward for exporting magnetite product from the company’s Victory Bore operation. Management’s aim is to secure port access for 1.25 million tonnes per annum to be shipped to the Kingdom of Saudi Arabia (KSA), where the ore will be processed into a suite of valuable products.

Higher silver and zinc prices have led Horizon Minerals to dust off the mothballed Nimbus project that sits adjacent to its flagship Boorara gold operation, some 17km from Kalgoorlie in WA’s Eastern Goldfields region. The company has set a big exploration target to chase in a drilling campaign planned for next year as it looks to ramp up its resources for an upcoming feasibility study.

Dateline Resources drilling has reeled in two giant hits going 1g/t gold, including a richer zone of 10.7m of 8.17g/t, as it works to bring its Colosseum project in California back into production. The company says its first two diamond drillholes show 203.6m grading 1.03g/t gold and 192m running at 1g/t, confirming the potential for expanded mineralisation at the site.

Galan Lithium has signed a memorandum of understanding with China-based Chengdu Chemphys Chemical Industry Co., paving the way for a US$40 million funding and offtake package at its Hombre Muerto West lithium brine project in Argentina. The package, subject to due diligence, will be in exchange for a five-year purchase agreement for Galan to deliver a total of 23,000 tonnes of lithium carbonate equivalent material.

St George Mining has added yet another highly-credentialled local advisor for its new niobium-rich Araxá rare earths project in Brazil by locking in the country’s former Minister of Mines, Adolfo Sachsida. The well-known business leader will join two other recent in-country niobium industry expert additions as St George completes its acquisition of the Araxá project that sits in the State of Minas Gerais.

White Cliff Minerals has unveiled extraordinary silver grades in rock-chip samples from its Great Bear Lake project in northern Canada, with assays reaching as high as a lab-shaking 75,439 grams per tonne – or 7.54 per cent. The company’s managing director Troy Whittaker probably put it best when he said, “Well, this is not something you see every day”.

Surefire Resources has inked an agreement with DRA Global for a full-service engineering package to develop its 100 per cent-owned Victory Bore vanadium-iron project in Western Australia’s Mid West region. The signed heads of agreement charges DRA with taking the Victory Bore project from feasibility to construction and finally, into planned dual-country operations in Australia and the Kingdom of Saudi Arabia.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the notable drill intersections revealed on the ASX, including Santana Minerals’ spectacular intercept of 41.6m at 8.6g/t gold from 164.4m. We also take a close look at other interesting drill hits from last week as reported by Lightning Minerals in Western Australia and Winsome Resources at its Adina project in Quebec.

Allup Silica has secured the services of a leading international mining consultant to conduct a prefeasibility study on its at-surface McLaren heavy minerals project outside of Norseman in Western Australia. The company has engaged IHC Mining for the work less than a month after it acquired the advanced-stage project that boasts an impressive 280 million-tonne resource grading 4.8 per cent heavy minerals.

Latitude 66 has started turning the diamond drill bit at the K South prospect within its Kuusamo Schist Belt gold project in northern Finland. The company says the initial focus will be on its K9 and K8 targets, with the drilling program set to extend up to a total of 2000m in a bid to unlock further high-grade hits of the yellow metal.