Public Company News

Everest Metals Corporation has kicked off a second phase of drilling at its Mt Edon project in Western Australia’s Mid West region as it looks to follow up on positive lithium and rubidium results from its previous campaign. The company plans to sink up to 10 reverse-circulation drillholes to test pegmatite targets highlighted from a deep ground penetration radar geophysical survey carried out in April.

Triangle Energy will ramp up its oil and gas chase after receiving $15 million from Pilot Energy for the sale of its share in the Cliff Head oilfield and carbon reinjection joint venture in waters off the Dongara coastline in Western Australia’s Mid West. The consideration will be paid in three stages and is expected to be completed early next year.

Surefire Resources is a step closer to developing its Victory Bore vanadium play in Western Australia into a significant critical minerals project, with the positive completion of a hydrogeological assessment. The company is planning an open-pit mine development with a proposed 4 million tonnes per annum mine rate, in addition to onsite beneficiation and processing.

Cancer fighter Chimeric Therapeutics has expanded its patent protection in Japan for certain cell therapy clinical and preclinical stage applications using chlorotoxin, which is derived from deathstalker scorpion venom. Management says the patents will expand the company’s intellectual property portfolio and underpin important assets in its development pipeline. Japan has recently been dubbed the world’s third-biggest pharmaceutical market.

Lindian Resources is one step closer to owning its Kangankunde rare earths project in Malawi after completing the third of four tranche payments needed to acquire the site’s current owner, Rift Valley Resources Developments. With the latest $US10 million transaction, a total of US$20 million has been paid to Rift Valley, with the final tranche payment of $US10 million still to come.

Javelin Minerals believes new assays from two of its projects in central New South Wales indicate the company is drilling the same ultramafic rock that mining giant Rio Tinto valued at $21 million, just 4km away. Management considers its Husky and Malamute projects to have excellent prospectivity for scandium and rare earths, in addition to precious, base and battery metals.

Terrain Minerals believes its latest drilling campaign has revealed hallmarks of the typical gold-bearing systems in Western Australia’s Mid West region that is home to its Smokebush gold and pegmatite project. Six holes from a second round of reverse-circulation (RC) drilling confirmed sulphides relating to IP anomalies, while another five intercepted pegmatites and samples will be analysed for lithium.

Godolphin Resources has applied for a huge 112-square-kilometre package of prospective rare earths ground next to its 94.9-million-tonne Narraburra project going 739 parts per million total rare earth oxides in New South Wales. The company believes its world-class mineralisation may extend into its new ground, which it plans to actively explore once the application is approved by the NSW Government.

Askari Metals has put the full stop on an extensive field work program after collecting 800 soil samples at its Red Peak project in Western Australia’s Gascoyne region in its mission to test anomalous areas of lithium and rare earths. Management says the results of the program will help shape further exploration plans, including a maiden drill campaign.

Brightstar Resources has inked an earn-in agreement with DevEx Resources on two of the former’s Goongarrie project exploration licences. The deal will see Brightstar retain all gold rights, while DevEx can earn up 75 per cent of the non-gold rights by exploring for nickel along the northward extensions of existing and historic deposits within the Highway ultramafic.

The natural hydrogen exploration program run by Buru Energy ’s 100 per cent-owned hydrogen and helium business, 2H Resources, has been substantially boosted by a new research agreement with the CSIRO. Management says the resulting study will focus on developing autonomous monitoring sensors to detect real-time surface occurrences of natural hydrogen in the same way mineral explorers use geochemical sampling.

Strickland Metals has filled its coffers to the tune of about $61 million after officially completing the sale of its Millrose project near Wiluna to neighbouring gold-mining giant Northern Star Resources. Strickland received an initial cash deposit of $2 million before getting an additional $39 million and 1.5 million fully-paid ordinary Northern Star shares upon the completion of the sale.