Public Company News

Novo Resources has tabled a “preliminary economic assessment” over its Beatons Creek conglomerate gold mine in WA. Figures from the study underline the profitability of leading-edge discovery, with the mine set to produce more than 100,000 ounces of gold per annum at a cash cost of US$702 per ounce, delivering an extremely healthy profit over a projected 6-year mine life.

Surefire Resources has unleashed a second drill rig on the exciting Yidby Road gold prospect at its Yidby Road gold project in WA. The company’s current RC drilling campaign comes on the back of its recent initial spectacular, thick drill hits of 40m at 3.01 g/t gold from 24m including 4m at 26.57 g/t, and 56m at 1.97 g/t from 44m including 4m at 14.47 g/t.

Godolphin Resources has been buoyed by a promising start to its resource definition drilling program at its Lewis Ponds polymetallic project in NSW’s venerated Lachlan Fold Belt region. The stand-out drill intersection from the company’s first diamond hole at Lewis Ponds was 18.6m grading 1.38 g/t gold, 55 g/t silver, 5.4 per cent zinc and 1.8 per cent lead for a gold equivalent grade of 6.72 g/t from 72m.

Image Resources has revealed a raft of resource upgrades across its heavy mineral sands projects in WA’s Mid West region, including the delivery of a massive 102 million tonne resource for its Bidaminna project. The company also continues to process and export a wealth of high-grade zircon-rich ores from its Boonanarring mine whilst it eyes a move into mining at its Atlas deposits in the north of the basin.

ASX-listed CZR Resources is gearing up for a maiden round of reverse circulation drilling next month at its Buddadoo gold project east of the 1.2-million-ounce Deflector gold-copper mine in WA’s Murchison region. CZR’s ground straddles the under-explored Gullewa greenstone belt where multiple targets that have been lit up by high-resolution magnetics are also coincident with soil and rock chip samples that returned anomalous gold readings.

Wiluna Mining continues to add grade at its Wiluna gold mining operation in WA. A suite of recent high-grade drill results headlined by 2.35 metres going 61.05 grams per tonne gold continue to demonstrate that Wiluna has ounce plus dirt on its hands at its namesake Goldfields project as it looks to eventually expand production to 250,000 ounces of gold annually.

Horizon Minerals has reported a string of bonanza gold drill hits from one of its core satellite gold deposits that form part of its proposed Boorara gold project development near Kalgoorlie. Drilling undertaken at the company’s Crake deposit delivered spectacular near-surface RC assays led by a 24-metre intersection at an average grade of 4.94 g/t gold from 32m including 1m at 57.17 g/t from 36m.

Wiluna Mining continues to tick boxes as it hurtles towards implementing its much-heralded production expansion plan at its Wiluna gold mining project that will see existing gold production double and then double again. Construction of a 750,000 tonne-per-annum flotation plant has now commenced as the company looks to grow gold production to 250,000 ounces annually.

ASX and Frankfurt Stock Exchange-listed PharmAust has unveiled encouraging initial results from the continuing phase IIb clinical trial of its anti-cancer drug, Monepantel on pet dogs suffering from B-cell lymphoma. The Perth-based company says the first five dogs who have undergone treatment with Monepantel across five participating test sites show “minimal side effects”.

ASX-listed aspiring central African lithium developer, AVZ Minerals continues to attract offtake partners at its proposed Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The Perth-based company has entered into a binding lithium offtake agreement for the sale of spodumene concentrate from Manono to another Chinese group, Yibin Tianyi Lithium Industry Co.

K2fly continues to stamp its mark on the mining software market, topping off a record quarter with the purchase of specialist software provider, Decipher. The purchase of Decipher received final approval at a meeting of shareholders this week and delivers K2fly another significant software solution for mine rehabilitation and tailings management. Decipher provides the only end-to-end mining and tailings management solution in the current market, according to K2fly.

ASX-listed 88 Energy, is staring down the barrel of a potential oil discovery at its 600-million-barrel prospective oil target being drill tested in the frozen arctic ground of Alaska’s oil-rich North Slope. The company said its Merlin-1 drill hole has intersected multiple reservoir sandstone layers, within the target Nanushuk formation, with many exhibiting indications of the presence of oil, collectively referred to as “oil shows”.