Public Company News

Lithium Australia’s joint venture partner at the Wundowie project, Australian Vanadium, has launched into a detailed study of the historical exploration dataset, highlighting the potential of the tenure to host significant nickel, copper and platinum group mineralisation. The companies are now planning an extensive program of geophysical and geochemical surveying across the collaborative tenement positions.

ASX-listed gold explorer, Venus Metals, has teased out some encouraging deeper gold hits from drilling at the Sovereign discovery at its joint-ventured historic Youanmi gold project in WA’s Murchison region. The most notable intersection was 8m going 5.03 grams per tonne gold from 160m including 2m at 15.83 g/t from 160m and 3m at 2.86 g/t from 165m.

Cobre Ltd has nailed its preliminary metallurgical test work for the Perrinvale VHMS project in Western Australia. One 90kg bulk sample from the Schwabe prospect has undergone initial testing and produced impressive head grades of 3.6 per cent copper, 1.6 per cent zinc, 1.1 g/t gold and 13.1 g/t silver from a standard suite of copper and zinc sulphides. Test work will now proceed to the development of a potential processing route for the project.

Unlisted Gawler Craton gold explorer, Barton Gold, has further strengthened its board of directors with the appointment of experienced corporate lawyer, Christian Paech, as it looks to significantly expand the global resource inventory at its historic Tarcoola and Tunkillia gold projects ahead of a planned ASX listing. Paech was most recently the General Counsel and Company Secretary at oil and gas giant Santos.

Mako Gold has extended the footprint of its Tchaga gold discovery in northern Cote d’Ivoire in Africa, blowing out the strike length of the high-grade discovery to more than 1.6km. The company’s preliminary results from its latest round of shallow RC drilling include 3m at 4.59 g/t gold and 10 metres at 1.1 g/t gold.

ASX-listed Calidus Resources has started early capital works at its planned $116 million Warrawoona mine about 25km south-east of Marble Bar in WA’s East Pilbara. The company says it has now locked in the preferred major mining and engineering contractors for the project that is expected to turn out free cash flows of $58.5 million a year against all-in sustaining costs to produce each ounce of gold of just $1,250.

ASX-listed agribusiness developer, Alterra Ltd, has successfully rattled the tin for $1.7 million following a placement to new investor, Emanuel Exports and existing major shareholder, Sandon Capital Investments. In a boost for Alterra’s financing aspirations for its WA agricultural projects, Emanuel will emerge as a major shareholder with 15 per cent ownership of Alterra’s expanded issued capital, whilst Sandon maintains its 19.2 per cent stake.

Novo Resources has taken another significant step as it charges towards production in the Pilbara, this week appointing two well credentialed mining men to oversee the company’s transition from explorer to gold producer. The move follows hot on the heels of the company completing the acquisition of Millennium Minerals and its mothballed Golden Eagle mill at Nullagine in WA earlier this month.

ASX-listed explorer, Comet Resources, has finalised a US$20 million “streaming” facility with Raptor Capital International for the potential development of its high-grade Santa Teresa gold project in Mexico. Historical drilling at the project intersected some bonanza gold hits including 1m at an incredible grade of 958 grams per tonne, or a whopping 33 ounces of gold to the tonne.

Kairos Minerals’ exploration program in the Pilbara looks to be delivering in spades with recent sampling across the Kangan project defining two extensive gold anomalies a mere 20km south of De Grey’s world-class Hemi gold discovery. The sampling at Kangan forms part of the company’s larger exploration program in the region which includes a bevy of surface sampling, drilling and geophysical surveys.

Horizon Minerals has offloaded its “non-core” Nanadie Well copper project in the Murchison district of WA as it progresses a massive 70,000m aircore, RC and diamond drilling campaign at its flagship Boorara gold project near Kalgoorlie. Horizon is already producing gold near Kalgoorlie under a toll treatment arrangement and the company has a plethora of satellite projects that it hopes to bring into production around Kalgoorlie.

Godolphin Resources has taken a second look at its Lewis Ponds project in NSW that was previously thought to be prospective for lead and zinc but now looks to be potentially even more lucrative for gold and silver. An extensive 1300m long gold and silver surface geochemical anomaly has delivered soil samples kicking as high as 6.2 g/t gold and 26.1 g/t silver.