Public Company News

King River Resources has revealed promising geochemical anomalism at its Providence target that lies along strike from a highly-regarded copper operation in the heart of Australia’s Northern Territory. The company says the anomalism could be related to the style of Tennant Minerals’ Bluebird-Perseverance deposit that has thrown up results including 61.8m at a grade of 2.3 per cent copper.

This week’s Bulls N’ Bears top ASX runner is… Macro Metals. Its share price rose more than 166 per cent to join fellow movers and shakers Immuron, Sultan Resources and Dynamic Metals.

St George Mining has launched a new drilling mission designed to better define the rare earths footprint at its Destiny project in WA’s Eastern Goldfields, where it has previously jagged up to 5125ppm TREO. Maiden drilling results at Destiny showed rare earths mineralisation in near-surface clay zones up to 42m thick throughout a 7km-long zone that remains open in all directions.

Toro Energy says it has expanded its uranium and vanadium resources at its Lake Way and Centipede-Millipede deposits near Wiluna by lowering the cut-off grade and creating new pit designs in light of the commodity’s booming global prices. The company says it is now using a 100ppm cut-off grade to bring it in line with its peers and to allow the expansion of resource envelopes.

Lindian Resources has delivered more shallow and high-grade hits from drilling at its Kangankunde rare earths project in Malawi, including a monster 19m section at 3.77 per cent total rare earth oxides from surface. The company recently completed its third-phase infill campaign at the operation, aiming to define a significant portion of its inferred mineral resource into an indicated category.

Aruma Resources appears to have landed a decent fish after nailing higher-grade rare earths drill hits and samples at its Salmon Gums project, about 200km south of the regional town of Kalgoorlie in Western Australia’s Eastern Goldfields. The company says one surface sample produced the highest recorded rare earths grade to date in the emerging Esperance ionic clay region.

Xanadu Mines says oxide leach testwork on ore from its Kharmagtai copper-gold project in Mongolia has highlighted the potential to conduct commercialised processing and generate significant early cash. The company says leaching tests on the shallower oxidised portion of the project’s mineral resource delivered positive metallurgical extraction results of up to 93 per cent copper and 46 per cent gold.

Aurumin is primed and ready to get back to the drill rig at its Sandstone gold project in Western Australia’s Mid West region after closing out on the final $1.07 million owing on a convertible note. The company says it will immediately exploit its financial freedom with a firm commitment to getting its Sandstone project back to “pouring gold bars”.

Channel sampling at Larvotto Resources’ Hillgrove gold-antimony project in NSW has delivered sparkling assays going as high as 63 grams per tonne gold, 13.82g/t silver and more than 30 per cent antimony. Management says the impressive results highlight the high-grade nature of the operation, while samples from the 1.5-million-tonne historical tailings facility recorded gold grades exceeding the average of many operating open pit mines.

BMG Resources has applied for two additional exploration licences adjoining its granted Dragon project in Western Australia’s West Arunta region – an emerging world-class niobium-rare earths district. It says data reviews have identified several areas where strong magnetic features are located next to major faults, which can be interpreted as being highly-prospective for potential carbonatites and represents priority niobium-rare earths exploration targets.

Surefire Resources has strengthened its growing ties with Saudi Arabia after signing a new agreement designed to assist in development and investment for its Victory Bore vanadium project in WA’s Mid West. The non-binding agreement with Saudi-based RASI Investment allows both parties to explore a joint venture or co-developer structure to assist in potential downstream processing facilities for offtake from the project.

Strickland Metals says it has connected its Bronco and Konik gold prospects to form one big structure at its Horse Well play near Wiluna, making a bulk-tonnage target with a high-grade surface oxide zone. The company says it has made the crucial interpretation on the back of re-evaluating historic Bronco data in conjunction with its own geological information following its Konik discovery.