Bulls N' Bears (Commercial Content)

Shallow exploration drilling at Xanadu Mines’ Kharmagtai copper-gold project in Mongolia has uncovered the potential for new discoveries outside its existing mineral resource area. Management says its new work has validated its belief that Kharmagtai hosts undiscovered porphyry deposits as the company progresses its prefeasibility study and updates its resource, with a view towards production.

Valor Resources has entered into a binding agreement with Firetail Resources to offload an 80 per cent interest in its Peruvian copper assets for an upfront cash payment of $750,000 and 15 million shares in the junior explorer. The raised funds will be used to accelerate Valor’s uranium hunt in Canada’s world-class Athabasca Basin at a time of rising uranium prices and surging investor interest.

American West Metals’ Storm project in Canada has continued to deliver high-grade, near-surface copper intervals at its 4100N zone. Its latest assays results include 15.3m at 1.6 per cent copper from 59m, containing 3.1m going 4.8 per cent copper from 64m. Management says its expanding copper footprint remains open in all directions and a diamond drilling campaign will start soon.

Classic Minerals has officially begun wet commissioning of the processing plant at its Kat Gap gold project in Western Australia’s Wheatbelt region, with first ore expected to be produced this month. Management says it will use part of its bulk sample ore to complete the commissioning phase before processing the balance through its gravity circuit.

Perth-based oil and gas explorer Buru Energy has taken a significant step in progressing its 2021 Rafael gas discovery towards production after being granted State Government approval for its hydrocarbon Declaration of Location application. It marks a significant milestone for the project, signposting the company’s commitment to developing its Rafael resource and providing a clean-energy solution for Western Australia’s Kimberley region.

Askari Metals has increased the size of its Uis project in Namibia by 68.2 square kilometres by securing full ownership of a new tenement in an area known for lithium, tantalum, tin and rubidium mineralisation. Management says its strategic purchase takes the company’s total landholding in the area to about 380sq km … and it is still on the lookout for more acquisitions.

Oil explorer 88 Energy has bought into more West Texas oil acreage, further expanding its Longhorn project footprint. The company’s new oil-producing fields will be further drilled to bring its Longhorn production to 500 barrels of oil equivalent per day by the end of the year. The company’s non-operating interest in Longhorn will support its exploration activities further north in Alaska.

Infinity Lithium says recent meetings with newly-elected regional political leaders have emphasised and reinforced the continued collaboration driving the advancement of its San José lithium project in Spain. The project, near the town of Cáceres in the Extremadura region, boasts one of Europe's leading JORC-compliant hard-rock lithium deposits, with an indicated and inferred resource base of 111 million tonnes at 0.61 per cent lithium oxide.

Galan Lithium’s DFS shows its Hombre Muerto West lithium brine play in Argentina churning out an average annual EBITDA of AU$124 million a year for 40 years … and that’s just “phase one”. The company says initial annual production targeting a high-quality lithium chloride product will deliver a US$460 million (AU$692 million) net present value and pave the way to fund further significant expansions.

European-focused Altech Batteries has engaged a group of suppliers with extensive backgrounds in automation and robotics to help power its move into the next phase of plant construction as part of its Cerenergy battery project in Saxony, Germany. Management says the design of the plant is aimed at completing one battery cell every 45 seconds as the project’s definitive feasibility study continues to gather momentum.

St George Mining has fired up the drill rig in its maiden nickel-copper hunt at its Ajana project east of Geraldton in Western Australia’s Mid West region. The company is plunging about 3000m into a duo of intriguing geophysical anomalies in the heart of the underexplored Northampton mineral field that is prospective for Julimar-style intrusive-related nickel-copper-platinum group mineralisation.

AVZ has reeled in monster lithium hits from the final 36 holes of a 53-hole resource drill-out of the Roche Dure deposit at its Manono project in the Democratic Republic of Congo. The latest results include an extraordinary 342m at 1.86 per cent lithium oxide from 208m. The remarkable ore body stretches more than 1.8km and remains open along strike and at depth.

Classic Minerals’ Kat Gap processing plant in Western Australia’s Wheatbelt region has secured a key endorsement for its efficient approach to gravity gold recovery after an independent evaluation of the company’s circuit design. An independent reviewer found that the company’s bench and pilot-scale tests indicate its current configuration is well suited to maximise the recovery of gravity-recoverable gold.

ABx Group’s 83 per cent-owned subsidiary Alcore has been boosted by the arrival of a second $2.7 million instalment of funding from the Australian Government’s Modern Manufacturing Initiative. Management says the funding will go towards the company’s planned $16.4 million aluminium bath recycling plant at Bell Bay in Tasmania, in addition to supporting its pilot plant on the NSW Central Coast.

A scoping study on Auric Mining’s Munda gold deposit in Western Australia’s Goldfields region supports the potential for open-pit mining and the processing of ore at an existing toll treatment plant, highlighting the potential for “significant accumulated cashflow”, even at low gold prices. The company’s study also outlined a cashflow surplus of $76.9 million under the base-case scenario.

Critical metals explorer Reach Resources has uncovered more high-grade niobium from surface sampling at its Wabli Creek project in Western Australia’s Gascoyne region. New rock-chip results, peaking at 10.3 per cent niobium oxide, were taken 400m from previous sampling of a 1.5km mapped pegmatite that returned 14.3 per cent niobium oxide, suggesting Reach has its foot on the tail of a potential stacked pegmatite swarm.

Alma Metals has expanded the reach of its Briggs copper project in Central Queensland, with its latest assays extending the known limits by more than 150m from the boundary of its current inferred resource. The company has revealed its latest drillhole produced a 366m intersection going 0.23 per cent copper and 28 parts per million molybdenum from just 6m.

Image Resources has tabled a prefeasibility study on its proposed new Bidaminna mineral sands project in WA that estimates a total EBITDA for its contemplated 10.5-year mine life of $379 million. Management says it will cost $194 million to build the mine which should yield a net present value of about the same figure.

Quantum Graphite has achieved flake purity grades of 99.99 per cent graphitic carbon following thermal purification results from its final phase of testing on samples from its Uley 2 mine in South Australia. The flake was treated at 2850 degrees celsius in a testwork program conducted by Germany’s Institute of Nonferrous Metallurgy and Purest Materials (INEMET), ProTherm Systems and Sunlands Power.

Classic Minerals has won approval from the WA Government to spud a second water-bore to help run its “Gekko” processing plant and to suppress dust at its Western Australian Wheatbelt-based Kat Gap gold project. The bore will provide vital operational water supply security as the State’s imminent next gold producer gears up to join the production ranks.

Aurumin set the drillbit spinning this morning on the first of its four planned diamond drill holes at its Mt Palmer project in Western Australia. It is targeting lithium-bearing pegmatites where it believes the geology is analogous to Wesfarmers’ and SQM’s Mt Holland lithium deposit, 65km to the south. The design of the diamond drill holes was awarded government funding for half of the costs.

Zuleika Gold has wrapped up a plethora of soil-sampling surveys at its Zuleika, Goongarrie and Menzies projects in Western Australia’s golden heartland. Employing CSIRO’s patented “Ultrafine” assaying technique, which can detect mineralisation blanketed by transported cover, the company is looking to later this year drill-test a string of compelling anomalies that are coincident with historical workings and favourable structures. Planning is well underway.

Globe Metals & Mining has launched into its next stage of processing and testwork after extracting a 12-tonne bulk sample from its Kanyika niobium project in Malawi and trucking it to Johannesburg. Management says it has also selected six separate vendors to undertake key operational tasks as the project reaches its next stage of development.

Northern Minerals has kicked off its mission to establish a rock-solid financial structure behind its 100 per cent-owned Browns Range rare earths project in northern Western Australia. Management says the Federal Government’s Northern Australia Infrastructure Facility has completed a strategic review of its project and will now begin a detailed due diligence process as it considers a potential funding arrangement.

Galan Lithium has kicked off pre-construction activities at its Hombre Muerto West lithium brine project in Argentina after being granted its development permits by the local Mines Department Minister. The permit allows the company to start the commissioning of its new camp, begin removal of top-soil and enter preliminary testing activities for securing the ground quality.

ASX-listed Valor Resources has signed an earn-in agreement with global copper and gold producer Barrick Gold Corporation at its Charaque project in Peru. Under the deal, Barrick has a five-year option to acquire 70 per cent of the operation for a cash payment of $1.2 million. Valor says the agreement allows it to focus on the upcoming drill campaign at its flagship Picha copper project.

Strickland Metals has entered into a binding agreement to sell its Millrose gold project to neighbouring global gold miner Northern Star Resources in a deal worth about $61 million. The deal has netted the company $41 million in cash and 1.5 million fully-paid ordinary Northern Star shares, with a $2 million cash deposit paid on the execution of the agreement.

ASX-listed explorer Gold Mountain’s stock doubled from 0.0035 cents to 0.007c after it unveiled a massive land acquisition in prime lithium real estate in Brazil. Management says its 3921sq-km package gives the company the biggest footprint of any Australian explorer in the region as it looks to transform from gold explorer to lithium player.

Oil explorer 88 Energy has confirmed it has multiple targets waiting to be tested at Project Phoenix once the Alaskan winter operation season begins in October. While the company waits to get boots on the ground, it plans to comb over scores of mud gas isotubes and wireline data in a bid to get a better understanding of the project’s composition.

Brightstar Resources has cracked the magical million-ounce milestone after upgrading the resource for its Cork Tree Well deposit to a total of 1.02 million gold ounces across its Laverton and Menzies projects. The independently-completed upgrade at the deposit saw Cork Tree Well increase by 20 per cent from 252,000 gold ounces up to 303,000 ounces of the precious yellow metal.

ASX-listed Kalgoorlie Gold Mining has highlighted a gold-mineralised corridor with a strike length of nearly 7km following reconnaissance fieldwork across its Zelica project in Western Australia’s Eastern Goldfields region. The company has recorded high-grade gold mineralisation in near-surface quartz veining, including results of up to 39.6 grams per tonne gold and 6.44g/t gold from rock chip samples at its West Nest prospect.

American West Metals has continued to ride a copper wave at its Storm project in Canada after revealing more thick and high-grade intervals near surface, with a headline 1.5m hit going an impressive 8 per cent. The company says its “outstanding results” point to the ongoing consistency and scale of its copper mineralisation … with the promise of more to come.