Public Company News

Novo Resources could be on the verge of a substantial upgrade to its existing resource inventory after its development program across the Beatons Creek conglomerate gold deposits identified previously unrecognised extensions to the near-surface auriferous, sedimentary units. The host conglomerate units have been mapped and sampled over an additional 1,600m of strike, with initial assays averaging over 2.5 g/t gold and remain open along strike.

ASX-listed Aruma Resources has agreed to sell its Slate Dam gold project in WA’s Eastern Goldfields to its neighbour and ASX-listed gold hopeful, Black Cat Syndicate, for $500,000 cash, with the deposit of $50,000 already paid and the balance due on settlement. Also included in the transaction are the Trojan gold resource and Clinker Hill projects.

ASX-listed West Africa gold hopeful, Mako Gold, has put the second tranche of an oversubscribed $10 million capital raise to bed as it cranks up an exploration blitz at the Tchaga prospect at its exciting joint-ventured Napie gold project in Cote d’Ivoire.

Terrain Minerals looks to be vectoring in on gold mineralisation hidden below surface dirt at its Wild-viper prospect lying adjacent to the Goldfields Highway, 68km south of Leanora in WA. Terrain said encouraging first pass drill results from its maiden drill tests at Wild-viper confirmed the potential for widespread mineralisation suggesting it could be on the edge of something more significant.

ASX-listed explorer, Victory Mines, has kicked off a round of RC drilling targeting historical high-grade drill hits at its second-string but intriguing Bonaparte base metals project about 70km north of Kununurra in the Kimberley region, WA. The company has started the 10-hole program at Bonaparte that will include twinning historical drill holes with modern drilling methods and sampling techniques.

ASX-listed minerals and advanced materials development company, Neometals, has continued to build a comprehensive nickel inventory at its Mt Edwards project in Western Australia. Recent work has included a doubling of contained nickel within its 132N deposit resulting in an updated resource weighing in at 460,000 tonnes at 2.0 per cent nickel.

ASX-listed PGM junior, Impact Minerals, has identified a “potentially powerful geochemical vector” that it says increases towards higher-grade nickel-copper-platinum group metals mineralisation at the Platinum Springs prospect which forms part of its Broken Hill project in NSW.

ASX-listed Canadian focused gold explorer, Ardiden, has firmed up its wholly-owned South Limb prospect in north-western Ontario having completed all the permitting requirements to enable exploration activities to advance. South Limb, which is a highly prospective brown-fields property, lies directly along strike from the historical Dona Lake gold mine and is one of 18 prospects being lined up for exploration.

Godolphin Resources’ evaluation of its Lewis Ponds project has presented some intriguing possibilities for the company with an assessment of the previous drilling unearthing a number of outstanding drill intercepts including 91m at an impressive 2.30 g/t gold and 79 g/t silver from 427m, including a high-grade core of 10m at 8.82 g/t gold and 255 g/t silver.

Troy Resources’ Smarts Underground deposit in South America continues to produce outstanding results with the company confirming three ounce-to-the-tonne, or better, gold hits at its Karouni gold project in Guyana. The ongoing reserve definition drill program returned a first hole intersection of 1m going 57.60 g/t gold from 221m where it is already sitting on a one million-ounce resource estimate.

ASX-listed West Africa bauxite hopeful, Lindian Resources, has unveiled a 53-million-tonne increase in the resource estimate at the Lelouma bauxite project in Guinea to a monster 900 million tonnes going 45 per cent alumina as the company looks to demonstrate it could be sitting on one of the highest-quality undeveloped bauxite projects in the world.

ASX-listed Kingwest Resources has hit paydirt again at its flagship Menzies gold project about 130km north of Kalgoorlie as the company seeks to shore up confidence in the resource. The results, which include 4m at 11.04g/t gold from 47m, also hint that an upgrade to its current mineral resource estimate may soon be on the cards.