Public Company News

Fresh from discovering its own 330m tonne ore body, sharemarket darling Chalice Mining is set to get the rods spinning again – this time to test farm-in partner Venture Minerals’ conductors in the same geological province. Previous work at Venture Minerals’ South West project revealed multiple EM anomalies scattered across the 20km long Thor magnetic anomaly target area.

Valor Resources has mapped out five promising spectral anomalies at its Picha project, with trademark porphyry signatures indicating the explorer may be tantalisingly close to unearthing a porphyry-style deposit in its Peruvian precious metal hunt. The company’s project lies only 17km from Chucapaca, Peru's largest goldmine, where close to eight million ounces of gold equivalent has been defined.

Galan Lithium is pulling out all stops to get a DFS tabled for its massive lithium brine play in Argentina by the end of the year and the company expects to update its resource by quarter three this year after discovering potentially new mineral resource zones courtesy of a Transient Electromagnetic geophysical survey. The project already boasts a US$2.2b net present value and a seriously impressive set of pre-DFS numbers.

Gold and nickel explorer Great Southern Mining is bringing the drill back to its 100 per cent owned Duketon gold project to commence a 5000 metre RC program on the Southern Star orebody, where previous exploration yielded stunning results up to 56 g/t gold. The company is looking to focus on a southern extension of a lookalike magnetic high feature similar to the existing orebody.

Twenty Seven Co has entered an agreement with mega-miner Rio Tinto’s exploration arm covering a six month exclusive option period to explore for non-gold minerals at its North Rover project near Sandstone in WA. Rio can earn an 80 per cent interest in non-gold minerals at the tenement by spending $5 million on it.

Multi-element explorer Horizon Minerals has netted $2m in cash by divesting assets as it continues its expansive exploration campaign in WA. The company shed its shareholdings in Red Dirt Metals and Cyprium Metals in addition to the non-escrowed portion of Metal Hawk. The earnings pocketed from monetising its assets will be used to fund part of its ongoing large-scale multi-commodity drilling program.

It may be over half a century on but kick-starting gas supply out of the Northern Territory’s Beetaloo Basin and the historic move to get oil flowing from the Bass Strait share similar themes. There’s an interesting discussion happening in Australia regarding energy security right now that assumes greater importance during times of high energy and/or geopolitical instability.

Gold developer Brightstar Resources has a rig in the wings for a 10,000m reverse circulation drilling program at its Cork Tree Well project in WA’s highly prospective Laverton gold belt. The company says the planned work is designed to significantly grow its resource in addition to hitting a new target that has historically recorded a 2m hit going 27.87 g/t gold.

Memphasys Limited has sold more units of its sperm separation system known as “Felix” to two of its current customers, Diagens Biotechnology Company in China and the Indian Women’s Centre IVF clinic in Coimbatore, India. According to the company, receiving repeat orders from patrons within its existing consumer base validates its business model and confirms its products efficiency across both research and clinical platforms.

Nickel-focused Estrella Resources continues to intersect more nickel-copper sulphides in drilling at its Carr Boyd nickel project 80km north of Kalgoorlie in Western Australia. The company says it has hit a cumulative 17.5m of disseminated and blebby sulphides within a broader zone about 24m wide. The finding comes from 782m down a deep hole targeting below the company’s T5 nickel discovery.

Battery metals explorer Askari Metals is scoping several significant lithium exploration zones after project-wide targeting and modelling at its Yarrie Lithium project in Western Australia. The company says it plans to put its model to the test with an upcoming foray into the field as early as mid-April. During the program, Askari will sample in a variety of ways, including stream sediments and rock chips in addition to mapping.

American West Metals continues to put runs on the board after it stumped up a whopping 157-metre intercept of visual zinc and copper massive sulphide mineralisation from its fourth diamond drill hole at its West Desert project in Utah. The company says the rods are still spinning in its quest to expose the full extent of the underexplored resource.