Public Company News

Artemis Resources says it finally has a good handle on the geology at its intriguing cobalt-gold-copper ore system at the company's Calow Castle project near Karatha after throwing nearly 25,000 metres of drilling at it this year. The existing resource of 4.5 million tonnes grading 0.9g/t gold, 0.07% cobalt, 0.4% copper and 1.3g/t silver dates from January 2018.

Calidus Resources has intersected wide zones of high grade gold at its Coronation prospect, 12km west of its flagship Klondyke resource in the east Pilbara. Results include a 10m intersection grading 4.69g/t gold from 57m and 5m @ 4.48g/t gold from 35m down-hole. The company’s drill rigs are going flat out at the Warrawoona gold project, targeting ore extensions both down-dip and along strike.

King River Copper’s Mt Remarkable project near Kununurra is continuing to live up to its name with recent drilling unearthing a new, 9m long high grade gold zone going 2.78 grams per tonne gold from 45m down-hole including 1m @ 12.45g/t gold. Step out drilling to the east also returned 5.76g/t gold, confirming the company’s belief that multiple high-grade zones exist on the Trudi vein.

Galena Mining has kicked off a definitive feasibility study for its flagship Abra lead-silver project located north of Meekatharra just weeks after unveiling its PFS that highlighted an impressive pre-tax NPV of $528m. The study is expected to be completed in mid-2019 and the company is also on track to start construction in 2019 with initial production expected in 2021.

MGC Pharmaceuticals has reached a major milestone after receiving formal authorisation to sell its CannEpil medical cannabis based epilepsy treatment in Australia through specialist prescribers under the Authorised Prescriber Scheme. This signals the start of commercial-scale production of CannEpil at MGC’s EU GMP certified facility in Slovenia. CannEpil is expected to generate $1m in annualised revenues from an initial base of about 100 patients.

Tyranna Resources and JV partner Alliance Resources, have commenced a regional aircore drilling program at its interesting looking Weednanna East prospect this week. The prospect is 1km east of their Weednanna gold deposit that holds 1.1 million tonnes grading 5.1g/t gold for 181,000 ounces. The program will test existing gold soil anomalies and build on previous drilling, which returned elevated gold results adjacent to known northwest faults.

Canadian listed conglomerate gold specialist Novo Resources has revealed a significant increase in mineral resources at its Beatons Creek gold project near Nullagine in WA. The resource now sits at 8.38 million tonnes grading 2.47 grams per tonne gold for 667,000 ounces. The company also said that its highly anticipated assays from bulk sampling of gold-bearing conglomerates at the Comet Well project near Karratha are due in October.

Northern Minerals says that ore sorting tests of stockpiled ore at its Browns Range rare earths mine has the potential to double the mineral grade to about 2% total rare earth oxide. The test work used sensors to sort the rare earth mineralisation from waste rock based on its bulk density and magnetic properties and the company says it could set up ore sorting infrastructure for just $4m.

Coziron Resources’ assays of historic auger drilling at the Croydon Top Camp gold project in the Pilbara have returned a maximum result of 25g/t gold compared to the historic 8g/t gold originally produced. Upgraded levels of “pathfinder elements” for lode-style gold mineralisation were also encountered with results from the re-assaying of 182 auger pulps across the project to be used to help discern new drill targets.

Altech Chemicals is closing in on securing the balance of funds it requires for its high purity alumina project with due diligence on the proposed mezzanine debt facility expected to be completed by the end of November. Stage 1 construction of its HPA plant in Malaysia, which is already funded, will run in parallel to finance close.

Artemis Resources has revealed an impressive 55% increase in copper and zinc resources at its Whundo mine near Karratha in WA. The new estimate of 2.67 million tonnes grading 1.14% copper and 1.12% zinc includes a near surface oxide resource of 383,000 tonnes grading 1.78% copper. The resource update is timely, as prices for copper and zinc have doubled over the last 10 years since the mine was mothballed.

PharmAust has appointed Westar Capital chairman Neville Bassett as a non-executive director, replacing Dr Wayne Best who is retiring. Dr Best will remain as chairman of the company’s wholly owned subsidiary Epichem. Pharmaust is poised to start clinical trials for its Monepantel anti-cancer drug on canine subjects soon.