Public Company News

With inflation rising across the globe and western economies imposing sanctions on Russia in response to its invasion of Ukraine, Goldman Sachs, of the world's largest investment banks, has hiked the prices of its commodities forecasts, citing supply disruptions that it says could drive the price of gold towards US$2,500 per ounce this year.

Image Resources has tabled a timely resource update on seven of the eight projects recently acquired in WA’s historic Eneabba mineral sands mining district, located 275km north of Perth. The total mineral resources for all seven stands at 199Mt grading 2.8 per cent THM with 5.5Mt of contained heavy minerals at 84 per cent VHM.

ASX-listed explorers Okapi Resources is poised to unleash the diamond drill bit at its Enmore gold project in northern New South Wales after scoring a string of “exceptional” hits in a maiden drilling campaign at the venture late last year. The 11-hole program will follow up on previous work at the Sunnyside prospect, that the company says remains open at depth and along strike.

St George Mining has confirmed the potential to produce two commercially viable concentrates with metallurgical test work displaying nickel grades of 11.5 per cent with 3.32 grams per tonne palladium, 0.65 g/t platinum and 0.61 per cent cobalt and copper at 27.8 per cent with 12.4 g/t palladium, 1.9 g/t platinum and 2.6 g/t gold. Importantly no deleterious elements that could affect the saleability of the concentrates were identified.

White Cliff Minerals is set to offload a pair of its non-core assets after entering into a deal with GenX Resources to farm-out its Coronation Dam and Ghan Well nickel-cobalt projects in Western Australia. According to the company, the impending transaction reinforces its strategy of focussing on its wholly owned lithium and rare earths projects in the state.

ASX-listed Barton Gold has plenty of drill targets to go after in South Australia’s Gawler Craton after processing of gravity survey data has confirmed previously identified priority structural targets. The findings have corroborated the explorer’s geological understanding of the Tarcoola project and will assist in refining its targets for an upcoming drilling campaign.

Quantum Graphite’s plan to manufacture thermal energy cells using its own graphite deposit in SA for retrofitting coal-fired power stations has jumped to the next stage. A newly commissioned report has suggested its technology, that is jointly being developed with Sunlands Co, is one of the most promising of the available long duration thermal energy storage solutions.

Meeka Gold Limited has confirmed the presence of rare earths mineralisation with wide hits grading above 1000ppm total rare earths from aircore drilling completed last year at the company’s Circle Valley project in WA. The aircore chips were initially only tested for gold however handheld XRF analysis displayed elevated rare earths spurring on a multi-element re-assay that confirmed the rare earths mineralisation.

Triangle Energy’s new board has laid out its plan for the road ahead since taking control of the Perth Basin operator, focusing firmly on the $11 million final shipment from the BP Kwinana facility in June. The company has just completed a strategic review that aims to preserve and increase production across its portfolio of assets.

ASX-listed Okapi Resources has its sights set on a drilling campaign at its Rattlesnake prospect after a 28-piece rock chip sampling program yielded grades as high as 1.24 per cent triuranium octox

Classic Minerals has confirmed more high-grade gold at its Forrestania gold project in WA. The results come from a short infill reverse circulation drilling campaign conducted in November last year. The company plunged 13 holes into the Wheatbelt for 1,419 metres at the Lady Ada and Lady Magdalene prospects. Significant intercepts from Lady Ada include a 1m high-grade hit grading a rich 74.8 grams per tonne gold.

Askari Metals has got its hands on another prospective lithium exploration license within the Arunta Pegmatite Province in the Northern Territory for an initial six year period with extension options available. The company took control of the exploration license covering its Barrow Creek lithium project following the issuance of 269,542 shares at $0.371 for a total consideration of $100,000 paid to Consolidate Lithium Trading.