Public Company News

ASX-listed West Africa gold explorer, Mako Gold has hit the ground running at its recently granted wholly owned Korhogo gold project in Côte d’Ivoire, kicking off a soil geochemical survey across the project’s two permit areas called Ouangolodougou and Korhogo Nord. Korhogo sits in the same highly prospective Birimian greenstone belt that hosts Barrick Gold’s 4.9-million-ounce Tongon gold mine and Montage Gold’s 3.1-million-ounce Kone gold deposit.

ASX-listed oil and gas explorer, 88 Energy is set to spud the Merlin-1 oil well at its Project Peregrine on the North Slope of Alaska early next month. The Perth-based company, who successfully rattled the tin recently for $12 million in a heavily oversubscribed capital raise, says mobilisation of the drilling rig to the Merlin-1 well location has commenced.

AVZ Minerals’ resource drill out continues to impress with broad drill intersections of pegmatite discovered in the Roche Dure pit floor at the company’s massive Manono lithium and tin project in the DRC. AVZ says the project will spit out an incredible US$400 million a year in average EBITDA when fully developed. The most notable new intersection came in at 173m grading 1.63 per cent lithium oxide.

Deep Yellow has banked a massive $40.8 million after adding several domestic and international financial institutions to the uranium developer’s registry. The company also received strong support from its existing institutional shareholder base with the placement set to finance the ongoing exploration and development efforts in Namibia and provide funding pipeline for any acquisition opportunities that might arise.

First-pass drilling at Oar Resources’ Gibraltar project in SA has delivered a potential treasure trove of mineralisation, with sampling revealing intercepts of both high-value halloysite and kaolinite. Some stand-out results for the flourishing project area include 3 metres at 19.6 per cent halloysite with 42.4 per cent kaolinite from 26m and an equally impressive 13m at 5.3 per cent halloysite with 80.9 per cent kaolinite.

Toronto Stock Exchange-listed Novo Resources has poured first gold from its Beatons Creek conglomerate gold mine at Nullagine in WA’s East Pilbara region following a rapid-fire project development. The Vancouver-based C$615 market-capped company achieved the gold production milestone during the plant commissioning phase in less than six months after buying and refurbishing the nearby Golden Eagle mill.

Aruma Resources’ maiden RC drilling campaign at its Saltwater gold project in WA’s Pilbara region has returned a cluster of encouraging gold sniffs that the company says may be the makings of what it calls a “new gold camp”. According to Aruma, assay results received for 37 holes of the 40-hole program point to a possible 4km strike length and the discovery of a potential gold camp on a “ring structure” at the project.

Eclipse Metals has taken control of the Ivittuut “cryolite” mine in Greenland, with the Minister of Finance, Industry and Mineral Resources approving the transfer of the exclusive exploration licence to the company, clearing the way for management to get “boots on ground” and kick off exploration in the coming field season.

A frustrating wait from assay labs gave way to satisfaction as in-fill and extensional drill results at Anglo Australian’s Mandilla project near Kambalda pointed to wide mineralised zones to the north of the project which remains open at depth and along strike. The company is now awaiting results from drilling at the Mandilla East zone before a short march to a maiden resource at project.

Image Resources is set to power up its 2021 mineral sands production at its Boonanarring project with the Perth miner meeting its 2020 guidance and retiring its outstanding debt. The company has already advanced its new year’s development schedule which boasts a growing pipeline of mineral sands production targets across WA’s Mid West region, stretching from Cervantes in the north to Gingin in the south.

White Cliff Minerals is set to resume its maiden RC drilling program this month at the historic Reedy South project 40km north of Cue in WA’s Murchison Goldfields. The company managed to churn out 38 holes for an aggregate coverage of 3,537m at Reedy South before Christmas and it is now looking to sink the final five holes totalling about 1,400m targeting depth extensions to the known mineralisation.

Kairos Minerals has returned a clutch of encouraging gold drill hits from a round of RC drilling at its Mount York gold project in WA’s Pilbara region. One of the more notable drill intercepts from the 16-hole program totalling 2,130m was 5m going 2.67 g/t gold from 60m including 3m at 3.78 g/t from 61m and 1m at 6.37 g/t gold from 63m at the project’s Old Faithful deposit.