Public Company News

First-pass air core drilling by Kalgoorlie Gold Mining on a blind target at its Kirgella West prospect, 140km northeast of Kalgoorlie, has been rewarded with good hits up to 3.66g/t gold over a 1200m strike. The 63-hole, 3518m program is adjacent to KalGold’s Kirgella Gift and Providence deposits, with their combined 76,400 ounce gold inferred resource, and produced strong gold anomalism and potentially economic gold grades over a wide area.

Horizon Minerals has tabled a solid set of numbers from a prefeasibility study into its Penny's Find gold play, 50km northeast of Kalgoorlie, in WA, predicting a free cash flow of $24m at a gold price of $3600 per ounce. The study reveals a profitable underground mining scenario with a production target of 329,900 tonnes of ore at a grade of 3.2 grams per tonne gold for 33,500 ounces.

GreenTech Metals has launched a 4000m stage two diamond core drilling program at its Whundo copper-zinc-silver project in WA’s West Pilbara region. The program aims to test electromagnetic conductors generated from previous surface fixed-loop and downhole electromagnetic geophysical surveys of previous drill holes to identify and potentially expand the project resource.

Octava Minerals has wound-up drilling at its Yallalong antimony project in WA’s Gascoyne region, confirming visual signs of antimony mineralisation and unlocking the next phase drilling of 14 high-priority targets, to follow assay results expected early next year. Octava completed 41 reverse circulation drill holes for a total of 2748m across its Discovery and Central antimony targets.

Larvotto Resources continues its winning run with its final five drillholes at Clarks Gully deposit at its Hillgrove project in NSW, jagging broad high-grade gold-antimony intercepts, including 22m at 9.87g/t gold equivalent. The 59-hole program for 4469m of RC drilling was designed to infill and extend the current 266,000t Clarks Gully mineral resource, grading 3.8 per cent antimony and 2.0g/t gold for 10.6g/t gold equivalent.

Triangle Energy’s well pad for its upcoming Becos-1 exploration well in WA’s Perth Basin is in the final stages of construction. The pad’s completion is set for the end of December, ahead of a March spud of the highly anticipated onshore Becos-1 wildcat well, which is targeting a resource of between 1 million and 21m barrels of oil.

Estrella Resources has received encouraging responses from its first geophysical survey line across its recently discovered Ira Miri manganese zone at Lautém in Timor-Leste, prompting its maiden drilling campaign. The low resistivity anomaly is interpreted as a potential target for supergene manganese and aligns with previously reported outcrop mapped onsite, although more work is required to gauge the potential scale of the anomalism.

Javelin Minerals has completed 2921m of a phase one maiden drilling program at its Coogee copper-gold project near Kambalda in Western Australia, with phase two slated to kick off early in the New Year. The 18-hole reverse circulation program recovered 1698 samples sent for assay and identified a copper-gold mineralised trend extending from about 270m south of the southern open pit rim to about 450m north of the northern rim.

American West Metals has unveiled an impressive 117% increase in indicated copper resources at its flagship Storm project in Nunavut, Canada, noting multiple recent discoveries remain to be included in the substantial resource inventory. The upgrade propels the total resource to 20.6 million tonnes at 1.1% copper and 3.3 grams per tonne silver, representing some 229,000t of copper.

Novo Resources has options to buy two exceptionally high-grade, drill-ready gold projects in New South Wales, including the John Bull prospect that has walk-up drilling targets in an area with seven historical shafts including one sunk in the mid-1880s. Novo said the acquisitions align with its strategy of identifying standalone projects that could host at least one million ounces of gold.

Christmas has come early for Lindian Resources, with it wrapping up the year with a US$50 million (A$78.6 million) funding agreement with US-based commodity trader Gerald Metals Group. Funds are earmarked to kick off development of its world-class Kangankunde rare earths project in Malawi. A feasibility study on the stage one development shows a whopping annual EBITDA of US$84m (A$132m) in a 45-year mine life.

This week’s Bulls N’ Bears Runner of the Week is… Tasman Resources. The South Australian mineral explorer has a series of impressive targets to follow up with a drilling program. Bridge SaaS received some love from a substantial shareholder keen to increase its stake in the firm, while other movers and shakers this week were New Frontier Minerals and Axel REE.