Public Company News

American West Metals has continued its unbroken run of hitting thick copper intervals at its Storm project in Canada, with its latest batch of eight holes all showing strong visual sulphides from reverse-circulation (RC) drilling. Management says assays received from its resource definition program include 15.2m at 1.2 per cent copper containing 4.6m going 2.8 per cent copper from 54.9m.

Xanadu Mines has begun an aggressive 18,000m discovery exploration drilling campaign at its Kharmagtai copper-gold project in Mongolia, with results set to be incorporated into an ongoing prefeasibility study. The program includes two additional diamond drill rigs, with one set to cover 8000m of deep exploration targeting high-grade and large-scale mineralisation at depth. A further 6000m is planned, depending on results.

Galan Lithium has filled its coffers to the tune of $31.5 million from an institutional placement priced at $1.05 per share to help drive development at its Hombre Muerto West lithium brine project in Argentina. It says the funds will be used to purchase long lead items for its proposed lithium carbonate pilot plant and the stage-two definitive feasibility study at the project.

PolarX has kicked off a series of induced polarisation surveys across its Humboldt Range operation in Nevada as it follows up gold and silver anomalies from its earlier soil-sampling programs. The surveys will be used to identify targets for follow-up drilling across the company’s Fourth of July and Black Canyon projects in a bid to replicate the multi-million-ounce deposits that sit nearby.

WA-based minerals explorer Terrain Minerals has uncovered a 600m-long induced polarisation anomaly at its Smokebush gold-lithium project in WA’s Mid West. The company had already planned to start an RC campaign to search for gold and lithium at the project next month, but reviews of historic drilling has presented new targets – including the newly-discovered anomaly.

Aurum Resources is edging towards exploration on its Ryans Find gold project north-east of Southern Cross after completing a two-day on-site heritage clearance survey alongside the land’s traditional owners – the Marlinyu Ghoorlie Native Title Claimant Group. Management says drilling at its deposit will be scheduled once a report from the heritage consultants, Fremantle-based Terra Rosa, has been reviewed.

Lindian Resources has inked a supply deal with a new partner flush with cash. The company has revealed a six-year agreement with C&D Logistics, which will see it supply 23 million wet metric tonnes of bauxite from its Gaoual project in Guinea. Kicking off in 2025, the supply agreement requires annual negotiation on price, quantity, product quality, payment terms and delivery details.

Diversified metals explorer Venture Minerals has wasted no time in kick-starting its new JV project in Western Australia’s Mid West region, signing a contract with drillers for a maiden drill program to test the extent of the clay-hosted rare earths mineralisation at its Iron Duke deposit. The program will complement a drill program organised for another recent rare earths acquisition, Brothers.

Northern Minerals has been awarded $5.9 million as part of the Australian Government’s Critical Minerals Development Program. Management says the funding will go towards key work programs at its Browns Range rare earths project in Western Australia’s East Kimberley region, including resource definition drilling at its Wolverine deposit, advanced front-end engineering and design and early work activities.

Reach Resources says it has confirmed high-grade copper-oxide mineralisation at its Morrissey Hill project in Western Australia’s Gascoyne region after gleaning results of up to 33.2 per cent copper from recent rock-chip sampling. The impressive results were from the company’s Swallowtail prospect from an outcropping quartz‐veined gossan that shows visible malachite through a strike length of about 150m.

White Cliff Minerals has acquired the Mineral Fields, Soak Sands and Border Exploration companies in a deal that brings 12 projects prospective for rare earths and iron-oxide-copper-gold deposits into its fold. The projects cover 2562sq km in Western Australia – from Jerramungup to Wanna Lakes near the South Australian border and up to the Three Rivers-Ashton Hills projects east of Carnarvon and south of Newman.

Askari Metals has continued its “aggressive” lithium hunt in Namibia, with its drills revealing new lithium-bearing pegmatites with widths of up to 112 metres. The company is now using mapping to help identify further targets for examination across two unexplored tenements in a bid to collect benchmark data for its next phase of exploration.