Public Company News

Blina Minerals will take a 50% interest in unlisted Australian exploration company, Colour Minerals and will shortly commence exploration across a gold-copper project near Tennant Creek in the NT. The Barkly project includes two exploration plays, with the area well known for its large, magnetite-hosted gold-copper deposits. The best historical drilling intercept is 20m @ 8.17 g/t gold and 0.61% copper from 157m down-hole.

Rox Resources and Venus Metals have hit the highest gold grades seen to date at the Youanmi South prospect near Youanmi in Western Australia, with drilling returning a solid peak intersection of 12m @ 12.7 g/t gold from 80m down-hole. The companies have also been targeting the Plant Zone prospect, which is a potential bulk mining, open-pittable ore source, with gold mineralisation occurring right from the surface.

Kairos Minerals has now delineated coherent, gold-in-soil anomalies with associated pathfinder mineralisation exceeding 8km in strike, at its emerging Croydon gold project located near Port Hedland, WA. The company also revealed that it has geologically mapped a major structural fault system along the same trend, which could possibly control the extensive hydrothermal gold system it is seeking to exploit in the area.

Strike Energy has concluded its drilling and completion activities for the exciting West Erregulla-2 well in the Perth Basin of WA, where it has located three separate gas discoveries and possibly the deepest occurrence of hydrocarbons in Australia. Earlier this month, the company completed wireline logging that identified a significant pay zone of conventional gas, which it said could potentially support a low-cost development.

Existing Hot Chili shareholders, Taurus Funds Management and Kalgoorlie mining identity, Murray Black, have corner-stoned a $12m capital raise for Hot Chili that has also attracted a number of institutional heavyweights out of North America and Australia. The funds will see the Perth based, ASX-listed company turbocharge its efforts to commercialise the Cortadera porphyry copper-gold project in Chile.

Aurora Labs may have underpinned the viability of the 3D printing industry by nailing the one thing that was holding the industry back – the speed to print items. The company has increased the speed of its 3D printing technology to 350kg per day, a 2215% increase in 12 months and is commercialising its proprietary printing technology after its RMP1 Printer completed full-size test prints as part of the commissioning process.

Sovereign Metals has identified six new rutile targets at its Malingunde project in Malawi. The company has been systematically exploring its ground for rutile mineralisation after receiving highly encouraging preliminary metallurgical test work results from its Wofiira rutile prospect. The new rutile zones appear to be open in all directions with near-surface zones spanning approximately 2.2km.

Image Resources has mapped out a swathe of ultra high-grade heavy mineral sands for a further 1.4km northwards at its Boonanarring mineral sands project near Perth. The company has completed infill drilling across all proposed mining blocks at the operation and with all assay results expected soon, it is aiming to complete a full update of the mineral resources and ore reserves for the project in the December quarter.

St George Mining has reported that significant massive sulphide mineralisation has been intersected during diamond drilling at its Investigators prospect, located within the company’s Mt Alexander project, near Leonora in W.A. The first hole hit a 27m wide zone that included a solid 8m width of sulphides and a smaller section with average XRF readings of 6.3% nickel and 2.7% copper.

King River Resources is ratcheting up the dial at its Mt Remarkable gold project in the East Kimberley region of WA. The company has been completing rock chip sampling and taking geochemical soil samples across newly discovered gold-adularia veins. Anomalous gold and silver values have been returned from this emerging prospect and include 0.42 g/t gold and 11.9 g/t silver from rock chip samples.

Azumah Resources has advised shareholders to ignore a 2.8c a share takeover bid from Ibaera Capital, its private equity partner in the Wa gold project in Ghana, saying the offer appears opportunistic given the recent strengthening in gold prices and it overlooks the upside potential of the recent Bepkong underground deposit discovery. Azumah says that Ibaera has paid up to 3.7c a share in the past for its stock.

Ironbark Zinc has appointed Michael Jardine to drive its zinc-lead project in Greenland from the Managing Director’s chair. Mr Jardine has a technical background in a range of industries including corporate development in mining and investment banking and looks well placed to take the helm at Ironbark. Former M.D and Ironbark prime mover Jonathon Downes will stay on as a Non-exec director.