Public Company News

Novo Resources has options to buy two exceptionally high-grade, drill-ready gold projects in New South Wales, including the John Bull prospect that has walk-up drilling targets in an area with seven historical shafts including one sunk in the mid-1880s. Novo said the acquisitions align with its strategy of identifying standalone projects that could host at least one million ounces of gold.

Christmas has come early for Lindian Resources, with it wrapping up the year with a US$50 million (A$78.6 million) funding agreement with US-based commodity trader Gerald Metals Group. Funds are earmarked to kick off development of its world-class Kangankunde rare earths project in Malawi. A feasibility study on the stage one development shows a whopping annual EBITDA of US$84m (A$132m) in a 45-year mine life.

This week’s Bulls N’ Bears Runner of the Week is… Tasman Resources. The South Australian mineral explorer has a series of impressive targets to follow up with a drilling program. Bridge SaaS received some love from a substantial shareholder keen to increase its stake in the firm, while other movers and shakers this week were New Frontier Minerals and Axel REE.

Javelin Minerals has slotted the next golden arrow into its quiver with the completion of its much-heralded acquisition of the brownfields Eureka gold project, 54km northwest of Kalgoorlie. Eureka’s current mineral resource estimate remains at 2.45 million tonnes at an average grade of 1.42g/t gold for a total of 112,000 ounces of gold, as announced in June 2021.

St George Mining has signed two memoranda of understanding with Latin America’s biggest scientific and technological agency SENAI looking to develop critical minerals opportunities flowing from its Araxá project in Minas Gerais, Brazil. SENAI collaborates with businesses to develop innovative technologies capable of driving business growth and efficiencies and has a strong record of collaboration with the private sector to advance businesses through those technologies.

Aurumin has kicked off its latest 1600m drill program and will launch into its prospective Plum Pudding deposit where a mouth-watering 18m drill hit graded 25.8g/t gold at its Central Sandstone project about 520km northeast of Perth. The company also plans to target extensional and infill drilling at its Shillington deposit and aims to crash through the million-ounce milestone at the project shortly.

88 Energy has reinforced its position on Alaska’s North Slope after securing four new, highly promising petroleum leases adjoining the existing 10 blocks it already holds at the company’s Project Leonis grounds. Seismic data revealed the discovery of significant oil potential at the new prospect, which covers 43 square kilometres and contains a sizable target up to 102m thick.

Octava Minerals has found 14 key structural antimony targets along a 10km antimony corridor at its Yallalong project in WA’s Gascoyne region, identified via a recent surface gravity geophysical survey. The targets look similar to its Discovery prospect that was the only site drilled out of four prime areas identified in historic exploration, and which assayed up to 7m at 3.27 per cent antimony along a 300m strike.

Meeka Metals has posted a massively improved definitive feasibility study that places its Murchison gold project in WA firmly on the road to almost doubling its total free cash flow to $1 billion over the mine’s expected 10-year lifespan. It also outlined a 31% boost in reserves and a 40% rise in production to 544,000 ounces over the decade with peak annual sales reaching 76,000 ounces in year five.

Reach Resources has anointed global mining technical services firm Mining Plus to independently review the expansion potential of its Murchison South gold project in WA and to prioritise targets for a new-year drilling campaign. It follows Reach’s own review that identified substantial potential and highlighted immediate drilling opportunities at the project, with plans now made for a 12-hole RC drill program at the site.

GreenTech Metals has launched high-powered electromagnetic surveys at its flagship Whundo project in WA’s Pilbara region to uncover deep copper-zinc-rich targets ahead of a major 4000m drilling campaign that kicks off this month. The fixed loop electromagnetic survey will cover 1.14 square kilometres and examine the northern down-plunge extensions of key known mineralised zones, including Whundo, Austin, Shelby, and Yannery.

Novo Resources has picked up a new gold and base metals exploration play in WA’s Pilbara region by locking up a 1520-square-kilometre land package near Onslow that is littered with evidence of historical mining. The two-part move involves pegging six new tenements together with securing an option on a 70 per cent interest in the nearby Cane River project held by a private company.