Public Company News

New seismic data has revealed that Triangle Energy may be sitting on a gushing 36 million barrels of oil and 535 billion cubic feet of gas as best-estimate prospective (P50) resources in the North Perth Basin. The company plans to drill-test two of its 12 new prospects that hold part of the volume, with wells kicking-off in the first half of this year.

Buxton Resources has discovered an extension to the porphyry copper-molybdenum system at its Copper Wolf project in Arizona that is not a part of the nearby JV it shares with mining giant IGO. The new “Wolverine” prospect gave up rock chip samples going as high as 14.1 per cent copper and 1160 parts per million molybdenum, suggesting the potential for a fertile porphyry system below.

In the next Bulls N’ Bears instalment on what made stocks jump in 2023, we look at Buxton Resources’ blistering start to last year with a 169 per cent share price jump on the back of graphite drill hits in Western Australia’s Gascoyne region. It went from 10.2c in early January to 27.5c the following month … and there was still more to come.

Mercedes Benz has put in a $30.7 million purchase order for Neometals’ JV company Primobius to build a hydrometallurgical “hub” to complete the motoring giant’s new lithium-ion battery recycling plant in the German town of Kuppenheim. The order continues a growing relationship between Primobius and Mercedes and includes the fabrication, installation and commissioning of the innovative plant.

Larvotto Resources says new testwork shows it can simply and efficiently upgrade rare earths samples from its Eyre multi-element project in Western Australia’s Goldfields region by using a hydrometallurgical cyclosizer. AC drilling last April at Eyre’s Merivale South prospect returned impressive total rare earth oxides results of up to 1.26 per cent, or 12,611ppm, including 3787ppm magnetic rare earth oxides.

Everest Metals Corporation has placed its foot firmly on strategically important new ground, with the acquisition of two new exploration licenses and an application for a third at its Revere gold and base metals project, 90km north-east of Meekatharra in Western Australia’s Mid West region. The acquisitions more than double the area of the company’s existing tenure in the area.

Galan Lithium is making impressive progress with the construction of its wholly-owned Hombre Muerto West lithium brine project in Argentina, with its first evaporation pond almost complete and liner installation underway. Filling the initial pond is expected this quarter, with the evaporation process for the operation – the first major step of the company’s long-term production schedule – set to begin in the coming months.

In the second Bulls N’ Bears instalment on what made stocks jump in 2023, we look at how some bonanza hits at American West Metals’ Storm Copper project in northern Canada blew up a share price gale. The company’s stock bulged from just 4.3 cents in March to hit a high of 37.5c on August 10 – a rise of more than 772 per cent.

Si6 Metals has received the green light from shareholders to acquire a 50 per cent share in four Brazilian projects covering 10 exploration licenses and form a joint venture with seller Foxfire Metals. The purchase will see the company pick up the half share in tenements covering 17,000 hectares across three Brazilian States prospective for lithium, rare earths, gold, base metals and platinum group elements.

Chariot Corporation has vowed to break out from a freezing Wyoming winter and polish off its diamond drilling campaign at Black Mountain, following its scheduled halt for the Christmas holiday season. Management says that since beginning its phase-one program in mid-November, it has drilled six diamond-core holes for a total of 652m of triple-tube HQ core and results are expected this month.

Analytical results from Askari Metals’ Uis lithium project in Namibia have turned up lithium oxide grades going as high as 2.91 per cent in its southern licence and 1.92 per cent in its northern licence. Tantalum oxide grades of up to 339ppm and 757ppm were returned from the north and south licences, respectively, accompanied by a best tin oxide hit of 0.52 per cent.

Larvotto Resources has lit up a slew of new drill targets at its Mt Isa copper-gold-cobalt project in Queensland after collecting more than 6200 samples from a geochemical soil sampling program last year. Key areas highlighted for further exploration include the Ballara Saddle, Portal Creek, IXL and Psamathe targets, with a geophysical induced-polarisation survey already underway.