Public Company News

ASX-listed Alaska oil and gas explorer 88 Energy says it is on track to present the market with a full appraisal of results from Merlin-1 well testing at its Peregrine project early next month after being “highly encouraged” by latest preliminary hydrocarbon indications. The company is targeting more than one billion barrels of oil resources in the Peregrine field.

ASX-listed Horizon Minerals has tabled an updated mineral resource for the joint-ventured Penny’s Find gold project in Western Australia’s Eastern Goldfields as it eyes a start to toll ore processing from the high-grade gold asset in the March quarter next year. The satellite underground deposit hosts an indicated and inferred resource of 250,000t at 5.22 g/t for 42,000 ounces of contained gold.

Geophysical surveying that accurately mapped known sulphide mineralisation at Si6 Metals’ Maibele North project in eastern Botswana has also defined several new nickel-copper sulphide targets along strike from, and below, the project’s 2.38 million tonne resource grading 0.72 per cent nickel and 0.21 per cent copper. Si6 is considering a drill campaign to test the new targets.

New ASX listing Askari Metals has secured a drilling contractor to undertake a maiden reverse circulation drilling program at its Burracoppin gold project in Western Australia. Planned drilling is designed to test several high-grade historical results and artisanal workings. The company is cashed up after recently raising close to $6 million as part of its initial public offering.

Kairos Minerals has intercepted shallow gold zones with drilling at its Roe Hills project some 120km east of Kalgoorlie in Western Australia. Hits at the Caliburn prospect include 8m at 1.32 grams per tonne gold from just 32m, with a 4m interval going at 2.29 g/t gold. Infill drilling is now on the cards as Kairos looks to work Roe Hills toward a maiden resource estimate.

Indiana Resources has served up numerous “stunning” gold hits at the exciting Minos discovery at its 100 per cent owned Central Gawler Craton project in South Australia. One broad 21m intercept returned 8.43 grams per tonne gold from 176m, including a bumper grade 1m interval going 159 g/t gold. The company is looking to table a maiden resource estimate for Minos.

Todd River Resources plans to get busy on the ground this quarter at its Nerramyne project in WA’s Murchison region after applying for further ground next to its large, granted exploration licence covering a 40km-by-6km copper soil anomaly. The company says a newly defined mafic intrusive will be one target worth investigating further in the expanded Nerramyne project area.

Kula Gold has dished up thick, shallow hits of bright white kaolin from a maiden drilling program at its 100 per cent owned Airfield project near Southern Cross in Western Australia. All three holes hit kaolin clay zones averaging 42m thickness from just 5m below surface, sending the company’s share price soaring by over 50 per cent in morning trading.

Sihayo Gold has clocked up more encouraging gold intersections from a diamond drilling program at its brownfields Sihayo gold project in North Sumatra, Indonesia. The pick of the assays from the latest seven holes at the Sihayo-2 prospect for which the company received results were 5m at 1.17 g/t from 25m, 3m going at 0.79 g/t from 4m and 4m at 0.76 g/t from 16m.

ASX-listed Calidus Resources has an eye firmly on becoming Australia’s next gold producer. With “rapid progress” made on several fronts in recent weeks the company says construction at its Warrawoona gold operation in WA’s Pilbara is now 40 per cent complete ensuring it is well on track for its first gold pour in the first half of next year.

Twenty Seven Co has defined three broad areas of anomalous gold mineralisation at its Yarbu gold project north of Southern Cross in Western Australia, with one zone coming in it at a hefty 1.9km-by-1.4km. The company plans to drill-test the new targets located along the Marda-Diemals Greenstone Belt that also hosts Ramelius Resources’ 280,000-ounce Marda gold project to the south.

Barton Gold has started a new geophysics program at its Tarcoola gold project in SA as it looks to hone the recently interpreted regional structural model for the brownfields project. The company says the ground penetrating radar survey will be aimed at priority targets identified last year as favourable for potential repeats of the mineralisation and auriferous structures at the nearby former high-grade Perseverance gold mine.