Public Company News

AVZ Minerals continues to record impressive assays from its Manono lithium and tin project in the Democratic Republic of Congo including a whopping 113m hit at 1.79 per cent lithium from 65.1m. The massive intercept was from one of four diamond drill holes sunk into the company’s Roche Dure north-east extension and also included 860 parts-per-million tin in addition to a higher grade zone with a 36m section going 2.06 per cent lithium and 887ppm tin from 141m.

Battery metals company Lithium Australia has boosted revenue by more than 40 per cent in the second half of calendar year 2022 compared to the corresponding period in 2021. The WA-based ASX-listed company, whose interests encompass several aspects of the so-called “green energy revolution”, also slashed its losses in that same period according to the company’s latest half-year accounts.

DiscovEx Resources is set to offload its Gooroo project in WA’s Murchison region after entering into an option agreement to sell off the prospective gold and copper tenure to fellow explorer Cooper Metals. The Perth-based explorer will continue to focus its exploration efforts on its portfolio of precious and base metal projects that are scattered across the state.

ASX-listed Infinity Mining continues to shore up its Pilbara operations after securing a five-year exploration licence extension for another of the key tenements that forms part of its Hillside project. The company is currently undertaking a detailed open-file review and geophysical interpretation over the site with reconnaissance mapping and surface sampling planned for this year’s field season.

Image Resources has upgraded its Bidaminna mineral sands project with a seven per cent resource increase to 109 million tonnes and a whopping 15 per cent increase in grade to 2.5 per cent total heavy minerals. Total contained heavy minerals also increased 23 per cent to 2.8 million tonnes. Bidimanna is part of the company’s existing profitable mineral sands operation approximately 120km north of Perth.

Perth-based industrial piping disruptor Polyline Pipe Systems believes its innovative method of producing “HDPE” poly pipes on site can help resources companies ease the current scourge of runaway prices bedevilling their sector. Polyline says its MPX630 mobile pipe extruder can reduce the conventional process to just three steps: on-site manufacture, a single weld at the end of a continuous pipe length and trench or surface installation as required.

ASX-listed Alaskan oil explorer 88 Energy is one step closer to tapping into the massive Alaska North Slope oil basin. As ice pad construction nears completion, the company remains on track for the Hickory-1 well to spud in early March, testing over the next month its six targets in the company’s Phoenix acreage that is estimated to hold 647 million barrels of oil.

Adriatic Metals is continuing to score goals at its Vares silver project, extending known mineralisation whilst pressing to identify more resources from its prospective tenements in Bosnia and Herzegovina.

ASX-listed Galan Lithium is set to spin the drill rods at its wholly-owned Greenbushes South project after approval for the company’s submitted Program of Works. The Greenbushes South Project tenement is located within spitting distance of the famed Greenbushes lithium mine and the initial campaign will see approximately 2,500 metres of drilling test the first of several key targets.

Minerals explorer Aurum Resources is about to kick off a ground induced polarisation, or “IP” geophysical survey at its flagship Penny South gold project in WA’s East Murchison in search of nickel and copper mineralisation. The IP gradient array survey over a 5.2 square kilometre block covers an historical anomalous nickel strike that returned 8m going 0.44 per cent nickel from 32m.

Kairos Minerals has extended mineralisation below its existing 1.1-million-ounce gold resource at the company’s Mount York project in WA’s Pilbara after landing hits including 10m at 4.9 g/t gold from 257m. Known mineralisation has now been stretched 85m below the existing planned open pit depths. The latest results offer potential for a resource upgrade and future underground mining in high-grade gold shoots within the 3km resource strike length.

A phase two and three investment agreement between Xanadu Mines and Zijin Mining Group for Xanadu’s Mongolian copper-gold projects has been given the go ahead after the deal received final approval from China. The partnership will fully fund the ASX-listed Xanadu’s flagship Kharmagtai copper-gold project through the next phase of evaluation and exploration as it builds towards a decision to mine.