Announcements

This week’s Bulls N’ Bears Runner of the Week goes to … DY6 Metals, which hiked more than 505 per cent on the back of impressive historic rare earth assays at its Tundulu project in Malawi. It joins fellow runners Forrestania Resources, Nanoveu and DeSoto Resources.

ASX-listed Aurumin will focus its attention on its flagship Sandstone gold project in Western Australia’s Mid West region after completing the last of its strategic divestments near Southern Cross in a deal with Kula Gold. The company has entered into a binding term sheet for Kula to acquire an initial 51 per cent interest in the Mt Palmer project for $250,000 in cash or shares.

Si6 Metals says it has discovered a 3km-by-800m pegmatite corridor at its Padre Paraiso project in the State of Minas Gerais in Brazil, with assays returning anomalous lithium from auger drilling and rock chip samples. The project sits 20km from Sigma Lithium’s renowned Grota do Cirilo operation that produces 270,000 tonnes per annum of lithium concentrate.

Liatam Mining has today confirmed it will spend $6 million in a new hunt for lithium at the Quartz Hill joint venture project it shares with Novo Resources in WA’s Pilbara region. Exploration to date has extended the known hard rock lithium mineralisation at the JV’s Lepidolite Fields prospect, with sampling results reading as high as 2.71 per cent lithium oxide and 828ppm caesium oxide.

Scoping study details revealed today on the Carnaby Resources-DiscovEx Resources copper-gold joint venture in Mount Isa shows the operation will deliver $491 million in free cash during the project’s nine-year mine life. The study indicates that commercialisation of the project is viable by 2026 and also confirms that processing by a third party will be the best option.

Strickland Metals’ Palomino prospect has produced more strong results, with a top new hit of 10.6m at 7.5g/t gold from 161.4m including 3m going 21.2g/t at the project within WA’s Yandal gold belt. Reinforcing other recent gold runs, the company’s latest RC drilling also threw out 9m going 2.4g/t gold from 22m and a deeper 21m intercept in the same hole at 1g/t from 76m.

Meeka Metals has outlined its pathway to gold production, with plans to mine 400,000 ounces during an initial nine-year mine life at its Murchison project following the release of a definitive feasibility study. The operation, near Meekatharra in Western Australia, hosts a mineral resource of 1.2 million ounces at 3g/t gold, with an ore reserve of 2.5 million tonnes at 3.8g/t for 305,000 ounces.

Thunderbird Resources has levelled its sole focus on its prospective portfolio of uranium projects in Canada’s world-class Athabasca Basin after turning its back on a pair of lithium projects in Ontario. Following a strategic review of its operations, the company is adamant it will get “more bang for its buck” by using its available financial and human resources across fewer projects.

Alma Metals plans to soon begin a core-drilling program to upgrade and expand the copper-molybdenum resource at its flagship Briggs project that sits about 60km from the deep-water port of Gladstone in Queensland. In a vote of confidence for the project, newly-appointed contractor iDrilling will take $240,000 of its fees in Alma shares priced at 1.2c – a 33 per cent premium to the existing price.

A geophysical data review at Reach Resources’ Wabli Creek project in WA’s Gascoyne region has identified a magnetic intrusive it believes may be linked to the source of niobium, yttrium and rare earths mineralisation. The target is coincident with previous high-grade results from eluvial samples and soil geochemical anomalies including 32 per cent niobium oxide, 0.72 per cent yttrium oxide and 2.6 per cent TREO.

Everest Metals Corporation has hit multiple pegmatites during its recently-completed phase one drilling program as it hunts for rubidium to deliver a maiden resource at its Mt Edon critical minerals project in WA’s Mid West. The new intersections from a reverse-circulation campaign have significantly expanded the company’s target area at the project that sits about 5km south-west of the historical gold mining town of Paynes Find.

Aurumin has smashed its previous ASX trading volume record out of the park after it revealed a bonanza gold grade hit of 1m going 344 grams per tonne from 43m in drilling at its Sandstone project in Western Australia’s Mid West region. The immediate market response saw 56 million of the company’s shares change hands – more than six times its previous record volume.

Aurum Resources has recorded its highest-grade gold hit to date from diamond drilling at its Boundiali project in the West African nation of Côte d'Ivoire, with 1m going 163 grams per tonne from 277m. The impressive section was contained within a wider 12.22m intercept grading 14.56g/t gold from 275m that was recorded 60m down-dip from a previous 4m segment at 22.35g/t from 226m.

White Cliff Minerals is poised for an exploration blitz when it kicks off a maiden fieldwork campaign at its Nunavut copper-gold-silver project in the northern Canadian province of the same name. The company has already identified a slew of high-priority targets at the operation and its imminent field campaign has been designed to include detailed geological mapping and sampling ahead of a maiden drill program.

Si6 Metals has increased its tenement area in the Limpopo Mobile Belt in Botswana by 45 per cent to a total of 2868 square kilometres after being granted a new 903sq-km prospecting licence. The newly-granted ground in the South African country sits 7km south of the company’s high-grade copper-silver projects at Airstrip and Dibete and the Maibele North nickel-copper-cobalt.

Incoming Lindian Resources chief executive officer Alwyn Vorster has vowed to bring the company’s massive flagship Kangankunde rare earths project in Malawi into construction and operation “as soon as possible”. The experienced rare earths executive, who has a track-record of managing projects through all stages of development, is expected to take up his new post as of this Saturday.

Aruma Resources is heralding the potentially “company-changing” acquisition of two copper operations in Queensland and a highly-prospective iron oxide-copper-gold and uranium play in South Australia. As part of a share acquisition agreement with NHM Holdings, the company has picked up the Wilan project near Olympic Dam in SA, while also adding the Fiery Creek and Bortala copper operations near Mt Isa in Queensland.

Neometals is looking to stage a US$10 million ($AU15.1 million) cash-and-shares payment to grab an 80 per cent share in a United States-based company which has developed a hydrometallurgical process that selectively recovers precious metals from industrial waste streams. The company says it has secured an option for the acquisition, believing its expertise could increase production by further refining the pilot-plant process.

King River Resources has pocketed a timely R&D tax rebate of more than $361,000 as it ramps up spending on a 10,800m reverse-circulation drill program at its prospective Tennant Creek East copper-gold project in the Northern Territory. The program, which kicks off this week, was delayed for several months due to flooding rains, but will now test 13 prospects at the company’s Top End projects.

Terrain Minerals says the latest gallium and rare earths hits at its Larin’s Lane project have provided more compelling evidence of an emerging mineralisation province in Western Australia’s Mid West region. The company’s air-core sample assays show total rare earth oxides (TREO) to a high of 3254ppm and surprisingly-elevated gallium signatures to a maximum of 53.74ppm gallium oxide.

In this week’s edition of Bulls N’ Bears Big Hits, we unravel some of the more curious drill intersections revealed on the ASX last week, including Turaco Gold’s long 105m hit at 1.61 grams per tonne gold from 135m. We also take a close look at other notable drill hits from Everest Metals Corporation, Toubani Resources, Venture Minerals and Aurum Resources.

This week’s Bulls N’ Bears Runner of the Week is … Strategic Energy Resources. Its share price jumped more than 170 per cent to join fellow movers and shakers Gibb River Diamonds, Sierra Nevada Gold and Charger Metals.

Aurum Resources’ diamond drilling efforts at the company’s Boundiali gold project in West Africa’s northern Côte d'Ivoire have continued to deliver big gold hits – this time 74m grading 1g/t from 167m. The latest set of assays included a 1m high-grade chunk going 24.73g/t as Aurum chases shallow mineralisation at depth with three diamond rigs to support a maiden mineral resource estimate for later this year.

Image Resources has edged a step closer to its mining plans at its high-grade Atlas mineral sands project 90km north of Boonanarring in Western Australia after securing environmental approval for the proposed development. Atlas’ 18 million-tonne resource features a heavy mineral grade of 6 per cent, including 9.3 per cent zircon, 46 per cent ilmenite, 4 per cent leucoxene and 6.5 per cent rutile.

Quantum Graphite’s JV partner Sunlands Energy has secured a patent green light for its thermal energy storage graphite cell technology from the powerful US Patent and Trademark Office. Management says the patent ensures its participation in the world’s biggest energy storage market. Thermal energy storage cells are devices that temporarily store energy to be used later for power generation.

Buxton Resources is dialling in on geophysical anomalies it believes may be iron oxide-copper-gold (IOCG) ore deposits as it prepares for fieldwork at its 100 per cent-owned Centurion project in Western Australia’s West Arunta region. Neighbouring tenements have thrown up significant rare earths enrichment, including niobium, at WA1 Resources’ Luni and Pachpadra carbonatite discoveries – and they have no shortage of head-turning assays.

Askari Metals has revealed some tantalising high-grade copper-silver mineralisation in rock chip sampling at its Callawa project in WA’s Pilbara region, jagging a top hit of 6.78 per cent copper with 2.34g/t silver. The headline result is supported by a second sample that produced 4.35 per cent copper with 8.25g/t silver and a third offering of 2.02 per cent copper with 6.42g/t silver.

Kalgoorlie Gold Mining has hit thick, near-to-surface gold running as high as 28m at 1.27g/t from 36m in air-core drilling at its Pinjin play near Kalgoorlie in WA’s Goldfields. The company believes it may be onto an extension of a bigger system being mined in adjacent ground by Hawthorn Resources, where 62,000 ounces have been pulled from open pit operations and 157,000 ounces sit underground.

Si6 Metals has expanded its Brazilian footprint, snatching 300 square kilometres of new ground prospective for rare earths in the State of Minas Gerais. The newly-acquired turf, dubbed the Pimenta project, sits in the north-east of the State and has thrown up some head-turning radiometric anomalies over 26km of untested strike. It adds further ground to the Brazilian JV it shares with Foxfire Metals.

Strickland Metals has delivered “outstanding” initial results from the first two diamond drill holes sunk at its Palomino prospect near Wiluna in WA, with a solid 17m hit grading 10.6g/t tonne gold from 144.7m. The impressive intercept contains a 3.5m section going 15g/t gold from 150.1m, while the second hole returned 13.7m at 6.3g/t from 133.4m including 3m reading an eye-catching 20g/t from 133.9m.

Every cloud has a silver lining and Dollar Bill reckons silver IS that silver lining right now. Once considered a poor man’s gold, silver is poised to take its place in the sun, having quietly tracked the gold price skywards. Sun Silver provided a poignant example last week when its 20c IPO hit the boards at 50c before marching to a 75c high.

A joint bid by Neometals and mining giant Mineral Resources, using electricity to turn purified lithium chloride from South American brines into lithium hydroxide, has entered its final stage at a testing facility in Canada. The pilot testwork progam being undertaken with Neometals’ proprietory “ELi” process is aimed at producing a converted material for use in the manufacture of electric vehicle batteries.