Public Company News

Buxton Resources has unveiled a game-changing find at its Graphite Bull play in Western Australia’s Gascoyne region, with new results revealing 84.6m of visible graphitic mineralisation. The hit from the company’s latest diamond drillhole includes an ultra-wide 50.35m intersection of high-grade material and once assays are confirmed for the latest results, the extent of mineralisation at depth could be doubled.

Octava Minerals is on the cusp of kicking off a soil sampling program in a bid to expand the Razorback gold prospect at its 202sq-km Talga lithium-gold project, 30km east of Marble Bar in WA’s Pilbara region. Despite Razorback showing significant gold intersections in previous drilling, including 5m at 2.23g/t from 24m, only 700m of its interpreted 4km strike has been drilled.

American West Metals has extended the high-grade Thunder copper zone at its Storm project in Canada’s Nunavut province to more than 300m after completing 66 reverse-circulation and diamond drillholes. The company has also received encouraging visible indications of mineralisation in its first 22 drillholes, with nine step-out holes exhibiting thick copper mineralisation to confirm the 300m strike extent of the target.

88 Energy’s bid to validate new oil targets in the recently-revived Owambo Basin in Namibia has taken a significant step with the completion of a major 203km 2D seismic acquisition program – on time and on budget. The company is now expecting to outline the prospective resource size and quality of the fold structures through data processing before the end of the year.

Gold Mountain has etched out a second intriguing rare earths patch at its Down Under project in Brazil, with a further 85 assays returned from a scout stream sediment survey showing values up to 4582ppm TREO. The company recently collected 800 samples in a first-pass reconnaissance program at its freshly-minted tenure – a stone’s throw from Brazilian Rare Earths’ Rocha da Rocha critical minerals province.

Toro Energy is closing in on the finalised design of a pilot plant that will allow it to test ores from three uranium-vanadium deposits at its project south-west of the WA town of Wiluna later this year. The plant will test improved beneficiation and hydrometallurgical circuits Toro has developed at near-production scale with an eye to incorporating the design flow sheet upgrade into future feasibility studies.

Quantum Graphite says its airborne geophysics have defined a new high-grade graphite zone about 2.5km long in the north-west area of its Uley 2 exploration licence on SA’s Eyre Peninsula. It comes after the company confirmed in April the completion of its helicopter-borne versatile time domain electromagnetic (VTEM) and magnetics survey that was part of its planning for Uley 2 and Uley 3 project extensions.

Strickland Metals has homed in on a powerful near-surface anomaly as part of a survey being run at the Obradov Potok prospect within its Rogozna gold and base metals project in Serbia. The preliminary induced-polarisation survey has unearthed a target that starts 100m below the surface and extends along a 400m strike length, suggesting a potentially significant new mineral deposit is taking shape.

With Mineral Resources turning a chapter and pulling the plug on its Yilgarn iron ore hub in Western Australia, the race for potential suitors vying for a look in at Esperance’s newly-released rail and port capacity is hotting up. And the star-studded list of runners and riders positioning at the starting blocks makes for some very interesting reading.

Ora Banda Mining has increased the gold production and head grade from its Davyhurst mine in Western Australia’s Goldfields region as it ramps up its mission to become a high-grade underground miner. The company today confirmed record gold-ounce production for the past quarter, fuelled by its new Riverina underground development, despite confronting considerable weather delays during the month of June.

Triangle Energy’s payoff for the sale to Pilot Energy of its Cliff Head oil asset off the coast of Western Australia now stacks up to $16 million after adjustments made to offset delays in the deal settlement. The new agreement features an extra $1 million for Triangle, which now plans to focus on its prospective conventional oil and gas activities in the Perth Basin.

Gold Mountain has defined extensive multi-element anomalism pointing to iron oxide copper-gold (IOCG) and lithium potential in two areas covered by an initial 231 stream sediment samples from its Iguatu Project in Brazil. The company says it has identified clusters of broad halo-style iron and sodium anomalies and copper-gold-mercury anomalies generally associated with the more strongly-mineralised parts of Australia’s renowned Olympic Dam IOCG deposit.