Public Company News

Base metal results from Legend Mining’s infill aircore drilling program at its Crean and Worsley prospects in the Fraser Range of WA have given the company encouragement that it is zeroing in on larger mineralised systems in the district. At Crean, anomalous nickel-copper assays point to a possible magmatic intrusive ore system like the revered Nova deposit, whilst Worsley shows geology and assays consistent with a VMS system.

Vonex continues to build its core business with the telco now counting more than 28,000 registered PABX telephony customers on its ledger, up from 27,500 users in March. This growth is due to a targeted nationwide marketing program and constructive engagement with its channel partners. The company has also posted a 20% year-on-year increase in new customer orders for the March quarter.

Novo Resources has kicked off its field exploration programs for the Egina and Karratha gold projects in the West Pilbara, WA. The company is planning to complete bulk sampling programs on defined and targeted gold-bearing gravel terraces in the Egina district, whilst regional exploration activities are underway at Karratha to evaluate conglomerate-hosted gold mineralisation between the Comet Well and the Purdy’s Reward projects.

Reedy Lagoon Corporation is reviving its Burracoppin magnetite project near Southern Cross, WA, due to the increased demand for high-grade iron ore concentrate to meet China’s new environmental regulations. Ore from Burracoppin is easily upgraded into a concentrate with between 67% to 70% iron, with low levels of impurities after a relatively coarse grind of 150 microns.

Spectrum Metals has drilled high-grade gold intersections at its Penny North and Magenta prospects near Youanmi in WA and has raised $5m to support ongoing exploration and resource development at the broader Penny West project. The company will shortly commence its Phase II drilling program, which will target regions adjacent to the existing Penny West resource and extensions to the Penny North and Magenta prospects.

PharmAust has received a tidy $672,250 R&D tax refund from the Australian Government for its expenditure on the development of its flagship Monepantel anti-cancer drug. This includes work on its successful clinical trials and reformulating a high dose tablet with improved taste. The refund will be used to advance the company’s clinical trial programs in dogs and humans.

Calidus Resources has boosted its cash position by $2.16m, following a strategic placement with major backer Alkane Resources that will ensure the company completes its PFS for the Warrawoona gold project near Marble Bar, WA, during the next quarter. The company recently upgraded its mineral resources at the project by 75% to 21.2 million tonnes grading 1.83g/t gold for 1.25 million ounces.

Alterra has signed an exclusive technical partner agreement with horticultural expert Tyson Bennett and his Perth-based company Chemicals Direct, placing it in the lead for high-density, high-performance production systems for permanent tree crops. Mr Bennett specialises in the outperformance of high-value tree crops through the management of tree canopies.

Surefire Resources has procured the prospective, yet under-explored Victory Bore vanadium project near Sandstone, WA, from ASX-listed High Grade Metals in a cash and scrip deal worth $1.25m. The company now holds a global combined inferred mineral resource of 237.2 million tonnes grading 0.43% vanadium pentoxide, which incorporates the large Victory Bore deposit and the nearby Unaly Hill deposit.

Hawkstone Mining has generated further wide, high-grade mineralisation in two separate ore horizons from drilling at the Northern Mineralised Zone of its Big Sandy lithium clay project in Arizona, US. Better results included 17m @ 2,152 ppm lithium from 12m down-hole in the Upper Zone and 36m @ 1,892 ppm lithium from 31m down-hole in the Lower Zone, within the same vertical drill hole.

Ongoing metallurgical test work of ore from Caravel Minerals’ flagship copper project in the Wheatbelt region of WA has established that it can be treated using standard process techniques with high recoveries. Testing has found that high recoveries can be achieved using low reagent doses, which could lower processing costs. The company has also revised resources to 1.3Mt of copper, up from the previous estimate of 1.28Mt.

Australian Potash is constructing evaporation ponds to assess the most cost-efficient technique for commercial-scale ponds at its Lake Wells SOP project near Laverton, WA. The company is also drilling up to three large diameter production bores that could support a resource expansion at the project and is carrying out additional long-term pump testing to help finalise the ore reserves estimate.