Mid-tier goldminers Westgold Resources and Red 5 have both hit expected production targets after grappling with labour shortages and cost pressures during the period.
Asra Minerals' Mt Stirling project near Leonora in WA's Goldfields has thrown up traces of highly sought-after “heavy” rare earths in addition to lucrative scandium that stretches from only 2m below surface to the bottom of 40m drill holes. Headline drill numbers include 48m at 90 parts per million scandium oxide from 3m and 7m at 669ppm total rare earths and yttrium oxide from 5m.
Our board moves wrap includes Tom Duthy, Graeme McCracken, Ben Secrett, Sophie Raven, Christine He, Julian Hoskin, JunChao Liu, Kevin Dundo, Andrea Sutton, and Tommy Logtenberg.
Leonora centrepiece St Barbara has copped a big loss ahead of its merger with Genesis Minerals, as new miner Red 5 pushes its case as a “logical” processing hub for players in the prominent gold province.
West Perth-based and WA-focused explorer Terrain Minerals has started what the company expects to be a very busy year with boots on the ground at its Smokebush gold project in WA's Yalgoo minerals field. Two programs at Smokebush spearhead a major exploration and drilling campaign across its portfolio of projects with the ultimate objective a maiden mineral resource within 12 months.
Asra Minerals has set up future revenue streams and a carbon credit plan in the Goldfields after completing the full ownership of its Tarmoola Pastoral Station about 25km northwest of Leonora in WA. The tenure takes in a massive 170,000-plus hectare ground position and provides the company will a host of new revenue streams including accommodation, cattle sales and a carbon credit plan.
Our board moves wrap includes David Greenwood, Johnathon Busing, Nicholas Poll, Davide Bosio, Dean Tuck, Roger Higgins, George McKenzie, Linda Hale, Rodney Skeet, Alicja Karpinski, Fiona Harris, Sophie Raven, and Matthew Fitzgerald.
New goldminer Red 5 has told the market it is on track to hit commercial production at King of the Hills before the end of the year, with merger and acquisition discussions still on the table.
ASX-listed explorer Infinity Mining has launched an air-core and auger drilling program within shouting distance of several historical mines at its Craig's Rest project near Leonora in WA. Legacy drilling in the zone threw up a suite of dazzling intercepts, including 5 m at 57.9 grams per tonne gold from 16m and 2 m going 26.6 g/t from 58m.
St George Mining's share price leapt over 50 per cent in intraday trading today following news the typically nickel explorer had snared a raft of high-grade lithium bearing rock chips at its Mt Alexander project near Leonora in WA. Analysis of its first batch of 10 samples returned grades as high as 2.72 per cent lithium oxide and the boundary of the site's outcropping pegmatites has now grown by up to 1.7km.
Red 5 is chasing $60 million from institutional investors to cover ramp-up costs for its new King of the Hills operation as consolidation talks with fellow Leonora miner St Barbara continue.
With a drone magnetic survey and positive rock chip assays, Infinity Mining has confirmed two compelling magnetic targets adjacent to historical gold workings at the company's Chicago gold project in WA's Central Goldfields region. The anomalous rock chips going up to 2.37 grams per tonne gold were collected in proximity to its magnetic targets and have inspired the explorer to plan a round of RC drilling.
Terrain Minerals has made a significant land grab for a new 668 square kilometre package of base metals and gold exploration tenements in WA's Mid West region. The group of tenements will form its new Calytrix project 50km north of the company's Smokebush gold project. Two tenements have officially been granted and the approval of two more is expected by Terrain soon.
Asra Minerals has amassed an extra 2456 hectares of prime real estate at its flagship Mt Stirling multi-commodity project in Western Australia's eastern Goldfields. The 13 freshly minted tenements abut Mt Stirling's southern block and take in a further 4km strike of the prospective Arktos Fault that hosts the company's emerging Yttria and Wishbone rare earths and critical minerals discoveries.
As it hurtles towards an expected resource upgrade, Asra Minerals has returned more significant high-grade gold intercepts from RC drilling at its flagship 118,400-ounce Mt Stirling project in WA's Eastern Goldfields. The program continues to extend mineralisation beyond previous resource boundaries, with the company reporting results grading up to 1m at 11.86 g/t from two more holes.
Terrain Minerals has been granted three new exploration tenements covering 320 square kilometres of the highly prospective ‘rare earths province' near Esperance. The largest new tenement is surrounded on three sides by Meeka Gold Limited that recently released results showing large areas of regolith hosted rare earths, including a strong and extensive anomaly adjoining Terrain's ground to the south.
Shares in recently listed mining services provider MLG Oz have risen 8 per cent after winning a new contract set to generate an additional $10 million in revenue with WA gold producer Red 5.
Goldminer Red 5 says it has completed more than half of the construction work required for its $226 million King of the Hills project in WA, where production is on track for mid-next year.
Red 5 has reversed the operating strategy for its Darlot and King of the Hills mines in WA, while fellow goldminer Ramelius Resources also unveiled a new production plan.
Goldminer Red 5 has agreed to sell its assets in the Philippines for $US19 million, in a bid to further focus on developing its King of the Hills project in WA.
Red 5 will begin open pit production at its Great Western satellite deposit early next year, as the company ramps down operations at its King of the Hills goldmine.
Shares in Red 5 tumbled by 34 per cent today after the goldminer cut its production guidance for the current year and revised its future development plans.
