Public Company News

TSX-listed Novo Resources hopes its latest AC drilling results, which show a likeness to early work at De Grey Mining’s ’s lucrative Hemi gold operation, will prove a significant step for the company in the Pilbara. Drill highlights include a 3m hit at 5.23 grams per tonne gold from just 9m and another 3m intercept going 2.93g/t gold, also from 9m.

Lindian Resources says the second phase of its depth-extension drill program at its promising Kangankunde rare earths project in Malawi is on track – and it has whetted the appetite of investors by flagging the return next week of more assay results from its phase-one work. The critical minerals company expects to release a maiden mineral resource estimate by the end of next month.

Godolphin Resources is planning a drilling program to follow up fieldwork at its Yeoval East prospect and further expand its resource footprint in NSW’s rich Lachlan Fold Belt. Soil and rock-chip program results identified a 150ppm copper zone about 600m long and 200m wide. Copper results ran up to 0.14 per cent from soil samples and 0.28 per cent copper from rock chips.

Kalgoorlie Gold Mining (KalGold) has wrapped up a deal to secure a valuable 22km-long swathe of the Laverton tectonic zone, north of Ramelius Resources’ 1.1-million-ounce Rebecca gold project in WA’s Eastern Goldfields. The company appears to have hit early paydirt, stumping up visible gold in one of the first three RC holes probing its Kirgella Gift prospect.

Estrella Resources has identified a slew of fresh targets at its Carr Boyd nickel project near Kalgoorlie following a review of data from its partnership with the CSIRO and results from a recent seismic survey. The company says it has highlighted 30 targets, including 15 with known nickel-copper-platinum group element intersections and another 15 hosting the right geology, but which are yet to be tested.

Aurumin is primed for another stint on the rig at its Sandstone gold project, 520km north-east of Perth. A 5000m campaign will chase targets from geochemical and structural work at the project and is expected to launch early next month, with management saying the 44 holes of exploratory work will cover nine open-pit targets that all sit within a 3km radius of its processing plant.

American West Metals has continued its unbroken run of hitting thick copper intervals at its Storm project in Canada, with its latest batch of eight holes all showing strong visual sulphides from reverse-circulation (RC) drilling. Management says assays received from its resource definition program include 15.2m at 1.2 per cent copper containing 4.6m going 2.8 per cent copper from 54.9m.

Xanadu Mines has begun an aggressive 18,000m discovery exploration drilling campaign at its Kharmagtai copper-gold project in Mongolia, with results set to be incorporated into an ongoing prefeasibility study. The program includes two additional diamond drill rigs, with one set to cover 8000m of deep exploration targeting high-grade and large-scale mineralisation at depth. A further 6000m is planned, depending on results.

Galan Lithium has filled its coffers to the tune of $31.5 million from an institutional placement priced at $1.05 per share to help drive development at its Hombre Muerto West lithium brine project in Argentina. It says the funds will be used to purchase long lead items for its proposed lithium carbonate pilot plant and the stage-two definitive feasibility study at the project.

PolarX has kicked off a series of induced polarisation surveys across its Humboldt Range operation in Nevada as it follows up gold and silver anomalies from its earlier soil-sampling programs. The surveys will be used to identify targets for follow-up drilling across the company’s Fourth of July and Black Canyon projects in a bid to replicate the multi-million-ounce deposits that sit nearby.

WA-based minerals explorer Terrain Minerals has uncovered a 600m-long induced polarisation anomaly at its Smokebush gold-lithium project in WA’s Mid West. The company had already planned to start an RC campaign to search for gold and lithium at the project next month, but reviews of historic drilling has presented new targets – including the newly-discovered anomaly.

Aurum Resources is edging towards exploration on its Ryans Find gold project north-east of Southern Cross after completing a two-day on-site heritage clearance survey alongside the land’s traditional owners – the Marlinyu Ghoorlie Native Title Claimant Group. Management says drilling at its deposit will be scheduled once a report from the heritage consultants, Fremantle-based Terra Rosa, has been reviewed.