Public Company News

Legend Mining has recorded encouraging multi-element geochemical assays from its latest infill aircore drilling of an EM anomaly at the Worsley prospect in the Fraser Range, WA. Best results included 28m @ 0.17% zinc and 1.37g/t silver from 40m down-hole, which incorporated a higher-grade section of 4m @ 0.71% zinc and 1.71g/t silver from 52m and may indicate proximity to a volcanogenic massive sulphide ore system.

Drilling has indicated that Hot Chili’s Cortadera copper-gold deposit in Chile may have greater growth potential than anticipated after confirming a large northern extension to the main porphyry centre, Cuerpo 3. The company is completing a second diamond hole to test the extent of a potential higher-grade core at Cuerpo 3 and plans to drill two further holes to determine the potential for an increasing grade profile with depth.

Spectrum Metals’ Phase II drilling campaign at the Penny West project near Youanmi, WA, has returned top results of 1m @ 180.3 g/t gold from 206m down-hole and 11m @ 11.7g/t gold from 229m from the first holes drilled at the Penny North prospect. The results have already doubled the down-dip extent of the Penny North lode on this section while results are pending for two up-dip holes on the same drill section.

Neometals has completed a scoping study for its proposed lithium-ion battery recycling and processing initiative, with results showing encouraging economic outcomes for an initial 10-year plant life. The company will process about 18,000 tonnes of exhausted LIBs per annum and churn out a pre-tax NPV of $308m and IRR of 72%, with a CAPEX cost of $92m and payback in less than two years.

St George Mining has delineated five new, high priority exploratory drilling targets for base metal mineralisation along the Cathedrals Belt at its Mt Alexander project located near Leonora in the Goldfields region of WA. The new targets include three virtually unexplored regions at the West End and Bullets prospects and two strong responses located down-dip and along strike of the existing Investigators mineralisation.

Calidus Resources has generated high-grade gold assays from a regional aircore drilling campaign over conceptual exploratory targets on prospective shear zones at its Warrawoona gold project near Marble Bar, WA. Best results included 12m @ 2.37g/t gold from 52m down-hole and 4m @ 8.87g/t gold from 48m down-hole on the Klondyke-St George shear system, 5km west of the main Klondyke gold deposit.

BlackEarth Minerals’ encouraging preliminary test work results have revealed that nearly half of the ore concentrate for its Maniry graphite project reports to the Super Jumbo, Jumbo and Large flake categories at high grades of 96% TGC. The results will now be used in offtake discussions and potential agreements and help broaden funding initiatives and product development for the project.

MGC Pharmaceuticals has received a purchase order of about $700,000 from the first full bulk order of cannabis-based cosmetic raw materials from private Canadian cannabis investment company CannaGlobal. It has also received a $173,000 payment for the delivery of cannabidiol raw material to lifestyle & medical cannabis product manufacturer Mabsut Life under their multi-year supply agreement.

PharmAust has given US-based manufacturer Catalent the green light to start producing more Good Manufacturing Practice-grade Monepantel tablets for its upcoming Phase 2 anti-cancer clinical trials in dogs. The company plans to start recruiting dogs with B cell lymphoma in August or September this year for the Phase 2 trials, which will initially follow a 28-day treatment regimen.

Crusader Resources is securing funds to facilitate the optimisation and completion of a DFS and BFS for its Borborema gold project in north-eastern Brazil by the end of this year. The company recently divested its Juruena-Novo Astro gold projects for $3m in cash and scrip and is raising up to $4.1m in a rights issue, as it vectors towards the development of its flagship gold project.

Troy Resources’ infill RC drilling at the Ohio Creek prospect of its Karouni project in Guyana has returned high-grade hits of up to 3m @ 41.7g/t gold from 29m down-hole and indicated a coherent mineralised footprint across a strike length of about 100m and depth of at least 125m. Recent diamond drilling has also confirmed that gold mineralisation may extend to depths of at least 250m.

Volt Resources is close to securing approval for a USD$40m note issue on the Dar es Salaam Stock Exchange that will underpin the Stage 1 development of its Bunyu graphite project in Tanzania. The company has also made progress regarding a proposed bond issue on the Stock Exchange of Mauritius and has received strong interest from North America and Asia-based institutions to fund the project.