Public Company News

Perth-based oil and gas outfit Buru Energy says an initial review of its Rafael 1 flow testing program has confirmed positive results scored in the field. The company says an ongoing data review suggests the area could hold significant gas accumulation housed in conventional reservoirs with “very valuable light oil and low CO2 content”. The company’s share price rose more than 36 per cent on the back of the news in intraday trading.

Perth-based explorer Kula Gold is closing in on the finish line of a diamond drilling campaign at its Boomerang kaolin prospect, part of the larger Marvel Loch – Airfield project near Southern Cross in Western Australia. According to the company, the campaign marks its final stage of fieldwork for resource studies and says its metallurgical test work is nearing a conclusion.

Reproductive biotechnology company Memphasys looks to be hitting the mark in the high-value world of horse breeding after its Samson fertility diagnostic device achieved accuracy rates of more than 80 per cent when predicting pregnancies in thoroughbred and standardbred horses, all within a turnaround time of an hour. The company has been developing and field testing the device for the past 18 months.

Battery metal explorer Conico and its joint venture partner ASX-listed Greenstone Resources are relishing today’s high prices for cobalt and nickel that are turbocharging the economics of the 50-50 Mt Thirsty project in Western Australia. The project aims to produce a mixed sulphide product to be consumed by the burgeoning lithium-ion battery industry.

Gold explorer Barton Gold and ASX-listed SensOre have inked a term sheet to form a strategic research and development partnership focused on the Gawler Craton. The deal will see SensOre serve up targets to the explorer using its AI technology to then be validated by the drill. The mineral targeting company stands to benefit in the form of royalties for any gold or copper produced.

Godolphin Resources has entered into a binding term sheet with ASX-listed Orange Minerals to offload its Ophir and Wiseman’s Creek projects in New South Wales for a total consideration of $550,000. The projects are prospective for gold and base metals and according to the company, the sale will provide a cash injection that will be funnelled to its nearby Narraburra rare earths project.

Buoyed by initial drilling results, Surefire Resources has booked a rig for April to drill out anomalies 400m northwest of its Yidby gold project in WA that returned 16 metres of gold at 1.39 grams per tonne from 16m. The company said the figures suggest a new discovery area hosting a northwest trending structure with wide downhole gold results.

Aruma Resources has tabled another lovely set of high-grade drill results including a one metre section grading a whopping 224 grams per tonne gold from just 44 metres downhole in maiden drilling at its Salmon Gums greenfields gold project 200 kilometres south of Kalgoorlie in WA. Other notable drill results include a 5m intersection going 50.2 g/t gold from 42m downhole with a 3m internal parcel coming in at 83 g/t gold.

Trigg Mining has revealed significant growth potential using gravity surveys at its Laverton sulphate of potash, or ‘SOP’ projects in the eastern Goldfields region of Western Australia. With two pivotal gravity surveys now complete, Trigg is now preparing for a maiden drill-program in the second half of the year.

Junior gold explorer Aurumin Limited has taken control of a 784,000 ounce gold resource through the acquisition of the Sandstone gold project from Middle Island Resources near the town of Sandstone in WA. The asset acquisition will add to Aurumin’s existing and nearby 65,000-ounce gold mineral resource base at its Johnson Range project in addition to providing a new prospective hunting ground for further discoveries.

Meeka Gold has identified two new gold targets coinciding with a 5.5km long magnetic anomaly at its Circle Valley project in Western Australia. Air core drilling has highlighted gold mineralisation over 700m and 350m of strike at two parallel shear zones. Drilling at Circle Valley also intersected saprolite clays over 20m thick similar to the high-grade rare earth clays recently discovered 3km to the east.

Calidus Resources has etched out a plethora of promising new gold targets at its Blue Spec project in the heart of the Pilbara. Stream sediment sampling has lit up three prospective targets returning values up to 326 parts per billion gold along strike from the high-grade Blue Spec project where the company is set to deliver the results of a definitive feasibility study in the coming months.