Public Company News

Infinity Mining has stretched its Pilbara lithium tenure to a whopping 795sq km after securing a contiguous fourth exploration licence, adding to its strategically-located ground 30km west of Marble Bar in Western Australia. And in addition to lithium, the company says its Panorama project area is also prospective for intrusive-related nickel-copper, shear and conglomerate-hosted gold systems and volcanic-hosted massive sulphide base-metal deposits.

Galan Lithium has secured a binding offtake agreement with mining giant Glencore for the supply of up to 100 per cent of lithium products from phase-one production at its Hombre Muerto West project in Argentina. As a sweetener to the deal, Glencore has offered to provide a secured financing prepayment facility for US$70 million (AU$107 million) up to US$100 million (AU$154 million), subject to conditions.

A $5 million placement has helped Buru Energy advance preparations for its mission to appraise its 100 per cent-owned wet gas and condensate Rafael discovery in Western Australia’s Canning Basin after the end of the Kimberley wet season mid-next year. It has now ordered long-lead items, advanced detailed well design and discussions with potential rig providers and has 3D seismic data processing on schedule.

Kalgoorlie Gold Mining has launched an earlier-than-expected RC drill-testing program at its Pinjin project in Western Australia’s Laverton Tectonic Zone in a move designed to ramp up its search for shallow, high-grade gold. Pouncing on the chance to get a drill rig this week, the company’s program at its Providence deposit has been crafted to follow up last month’s gold drill hits.

Aurumin is sharpening its focus on its Sandstone gold project in WA after selling its Mt Dimer ground in a strategic decision that has edged it closer to wiping out an overhanging $6.4 million debt. It will pocket $3 million from Beacon Minerals for the sale of Mt Dimer, leaving just $1.4 million to pay to remove a convertible note relating to its Sandstone acquisition.

Infinity Lithium has taken another step forward with its proposed San José lithium project in Spain after the Cáceres Local Government deemed the operation compatible with local urban legislative requirements. The project, near Cáceres in the Extremadura region, boasts one of Europe's leading JORC-compliant hard-rock lithium deposits, with a total indicated and inferred resource base of 111 million tonnes at 0.61 per cent lithium oxide.

First-pass reverse-circulation drilling by Novo Resources at its Nunyerry North deposit in Western Australia’s Pilbara region – near De Grey Mining’s 11.5-million-ounce Hemi gold play – has turned-up drill hits of up to 7.42 grams per tonne gold. The company says results from the program included intersections of 11m at 1.98g/t gold and 4m at 4.15g/t, with follow-up testing plans already in place.

Meeka Metals has tabled a solid set of initial assays from shallow infill drilling at its Turnberry deposit within its flagship Murchison gold project in WA. Broad zones of oxide gold running up to an eye-catching 8.53g/t were unearthed from the first 19 holes, with assays expected soon from the remaining 32 holes, which are largely located around the periphery of the designed open pits.

Reach Resources has mobilised Strike Drilling to start a 9000m phase-two reverse-circulation drill program at its Morrissey Hill lithium project in Western Australia’s Gascoyne region – right next door to the notable Delta Lithium discovery. The campaign is designed to follow up results from previous drilling at the Bonzer prospect where all phase-one drillholes hit pegmatites, with some individual intercepts up to 30m long.

Novo Resources has set its sights on its “highest-priority” targets as it prepares to launch a diamond drill campaign targeting high-grade gold at its Belltopper project within central Victoria’s historically-prolific Bendigo Tectonic Zone. The company has identified several new structural corridors and high-tenor IP chargeability anomalies to define six drill targets for a 2300m diamond drill campaign.

Auric Mining’s Jeffreys Find gold project near Norseman in Western Australia has kept the company’s till ringing with another $1.65 million banked after it sold 1448 ounces to take its stage-one share to a more-than-expected $3.85 million. The Jeffreys Find “pot of gold”, which is expected to keep pouring out next year, will fund Auric’s development of its bigger-play Munda gold project.

88 Energy has revealed it will earn a 45 per cent interest in 18,500 square kilometres of onshore petroleum acreage in Namibia’s Owambo Basin as the final part of a three-stage farm-in agreement. The company’s staged entry into one of the globe’s final frontiers of petroleum jurisdictions represents a diversification from its Phoenix operation in Alaska and the chance to transition to project operator.