Public Company News

Seeking to complete a trifecta of polymetallic exploration successes in Vietnam, Blackstone Minerals has turned its sights to the Ta Cuong prospect. The company hopes its strategy of geophysical targeting may reveal a third lucrative deposit to add to its coffers already brimming with the spoils uncovered at the nearby King Cobra and Ban Chang prospects.

ASX-listed explorer King River Resources is set to crank up the drill bit next month at its high-grade Mount Remarkable gold project in WA’s East Kimberley region after delays caused by coronavirus pandemic restrictions. Bonanza near-surface gold hits from previous drilling included a best result of 4m grading 113.29 grams per tonne gold including 1m going more than 10 ounces per tonne.

Great Southern Mining has laid claim to the discovery of what could be a significant intrusion-related gold system containing polymetallic credits in its highly prospective Edinburgh Park project in North Queensland. In what is the first systematic gold exploration in the region, the company said its initial results produced all the hallmarks of a major mineralised system.

Undaunted by coronavirus-related delays, Barton Gold’s exploration plans are back on track as it prepares to kick off a drilling campaign aimed at resuscitating its Tarcoola gold project in the Gawler Craton, South Australia.

ASX-listed Lindian Resources has tabled world-class, high-grade alumina numbers at its Gaoual conglomerate bauxite project in Guinea, West Africa. The maiden indicated resource estimate for Lindian’s readily mineable surface deposit of 102 million tonnes at 49.5 per cent alumina includes uber-rich tonnage of 84Mt at 51.2 per cent alumina.

ASX-listed PharmAust Limited has delivered the final report on its successful Phase II clinical trial, using the Monepantel drug to treat cancer in dogs, to the US$8.8B market capped pharmaceutical giant, NYSE-listed Elanco. Under an option agreement inked two years ago with PharmAust, the animal health-focused mega-Pharma company now has six months to take up the option to licence, manufacture, and market Monepantel globally.

Hammer Metals has returned further encouraging assays from drilling of the Target 1 prospect at its North Orelia gold project in Western Australia’s Yandal greenstone belt, which boasts an enviable gold endowment of 24 million ounces. Better intersections from the first 66 holes, or 3,889m, of a planned 8,000m aircore program were 4m grading 5.79 grams per tonne gold from 40m depth and 4m going 4.38g/t gold from 48m.

Classic Minerals has tabled first pass metallurgical numbers from its Kat Gap project near Southern Cross, WA. The test work results show an average gold recovery at Kat Gap of up to 75 per cent in the oxide material using a low-cost gravity separation process. Conventional cyanide leaching of the gravity gold concentrate showed between 95 per cent and 96 per cent recovery from oxide and fresh ore.

In a move that will bring Horizon Minerals’ gold assets to the fore, the Perth-based company will divest its Nadine Well West Australian copper project to Cyprium Metals Limited for $1.5m in cash and Cyprium shares in a deal that will see Horizon retain exposure to the prospective copper-gold-PGM region in the Murchison district.

Troy Resources has weathered the challenges of Guyana’s wet season, producing impressive drilling results while maintaining operations at its Karouni gold project in South America. The standout diamond drilling results from underneath the existing Smarts open pit include a 32-metre zone grading 4.29 grams per tonne gold from 168m down hole. At the Goldstar prospect, near surface RC results also include 17m grading 2.21g/t gold from just 3m.

Emerging ASX-listed gold player Calidus Resources is set to kick off an initial round of regional drilling at its recently acquired Otways gold-copper project in the Pilbara, in tandem with continued drilling to beef up a maiden ore reserve estimate at its developing Warrawoona gold asset, about 50km away also in the Pilbara.

Hot Chili has the drill rigs firing again at its Cortadera copper-gold project in Chile, zeroing in on extensions to the high-grade zones across a 2.3km strike that is likely to form the backbone of an imminent maiden resource at the project. Hot Chili has doubled the size of the mineralised system in less than 18 months at Cortadera which the company believes may propel it to Tier 1 status.