Public Company News

Kalgoorlie Gold Mining commenced trading on the ASX yesterday after raising $7.5 million through its initial public offering. Drilling is already well underway at its flagship Bulong Taurus gold project near Kalgoorlie with a total of six holes completed to date targeting some bonanza historical grades, including a 5m hit grading a whopping 52.1 grams per tonne gold from 15m downhole.

An intriguing listing is set to hit the ASX in December with the company, 8 Au Limited, offering a handful of impressively diverse Western Australia tenements prospective for gold, nickel, lithium and platinum group elements. All of the company’s projects are located in tier one jurisdictions and all have returned either significant drill intersections or anomalous sampling results that would seem to demand follow up work.

Zuleika Gold has consummated a mineral rights acquisition deal with Wingstar Investments that will allow the junior explorer to gain the gold rights of two highly prospective mining leases in the revered Menzies district of Western Australia. The company says the acquisition is consistent with its broader strategic objective of consolidating its landholding at Menzies along the highly prospective greenstone contact and proximal to extensive gold deposits.

Kula Gold continues to plumb the depths of the Crayfish gold target at its 100 per cent owned Marvel Loch project in the prolific Southern Cross goldfields in Western Australia. Diamond drilling has just commenced at the newly discovered prospect, extending recently drilled RC holes aimed at unravelling the geological secrets of gold-bearing rocks and structures.

Junior explorer, Torian Resources has unearthed more high-grade gold from a regional drilling push at its Mt Stirling gold project near Leonora in Western Australia. New intercepts from only two holes drilled at the recently discovered Unexpected prospect include a 4m strike going 4.86 grams per tonne gold from 52m and a 1m hit grading 7.41 g/t gold from 64m.

Wiluna Mining Corporation has posted an impressive 28 per cent increase in its measured and indicated resource to now stand at a healthy 2.73 million ounces grading 4.46 grams per tonne gold at its namesake WA gold operation. The company’s total mineral resource at the project now clocks in at 36 million tonnes grading 3.9g/t gold for 4.51 million ounces of the previous yellow metal.

Following a strategic review of existing pegmatite fields in Western Australia, ASX-listed junior explorer, Askari Metals has swooped on two compelling exploration projects, Red Peak and Mt Deverell, both prospective for lithium-hosted pegmatites to the north of Meekatharra. No less than 11 significant pegmatite fields have already been mapped at Red Peak, with strike lengths of some stretching for more than three kilometres.

Buru Energy has completed drilling at its Rafael 1 exploration well with early indications highlighting the company has found wet gas rich in LPG and condensate. The crucial wireline logging and flow testing will follow. Since its last report, Buru says it has continued to encounter good to excellent gas shows in the much-vaunted Ungani Dolomite equivalent section from 3,857-3,977 metres depth.

Wide-spaced aircore drilling by mineral explorer, Kairos Minerals has intercepted anomalous gold and lithium at its Kangan project in the Pilbara region of WA, just 20km south of De Grey Mining’s spectacular 6.8 million ounce Hemi gold discovery. A 3,000m infill air-core drill campaign is now planned for later this month to follow-up the encouraging results.

Todd River Resources looks on track to extend its growing list of nickel, copper and platinum group element targets in Western Australia’s South West mineral field with the company kick starting an 8,000 metre aircore and RC drilling program along the eastern trend of gabbroic and ultramafic intrusions in the Berkshire Valley.

Oar Resources has expanded its footprint at its nickel, copper and platinum group elements Crown project in the Julimar district, about 70 kilometres north east of Perth in the vicinity of Chalice Mining’s amazing Gonneville deposit. A new land access agreement has opened up a raft of new potential targets that will form the focus of Oar’s ongoing soil sampling and mapping in the area.

Askari Metals has completed its inaugural field program at the Callawa copper project that sits strategically close to Rio’s extraordinary Winu copper discovery in the Pilbara– and the early results haven’t disappointed. Rock chips grading 6.78 per cent copper, 4.35 per cent, 2.02 per cent and 1.85 per cent copper were discovered in the first pass in what is generally recognised as copper-gold “elephant country”.