Public Company News

88 Energy hopes to bolster its Phoenix project in Alaska this month by certifying a maiden contingent resource for the lower basin floor fan reservoir intersected by the Hickory-1well in March this year. The pay zone was drilled and flow tested successfully by neighbouring company Patheon Resources on its ground to the north, resulting in a significant 962.5 million barrels of total marketable liquid as a best estimate contingent resource for the reservoir.

DiscovEx says that its joint venture partner Carnaby Resources has completed its maiden interim mineral resource for its Greater Duchess iron oxide copper gold (IOCG) project of 21.8 million tonnes just 70km southeast of Mt. Isa in Queensland. The Greater Duchess Project includes the “Southern Hub” tenements in the Mt. Isa Region of Queensland where DiscovEx holds a 17.5 per cent free-carried interest in 12 exploration permits for minerals.

Lindian Resources has officially wrapped up its 4000m mine development drilling at its Kangankunde rare earths project in Malawi as it aims to define its resource at the operation into the indicated category. Assay results are expected to arrive in early December with a 400m geotechnical drill campaign to assess rock mechanics and ground stability set to start and finish next month.

Gold explorer Strickland Metals says it will begin 440m of diamond drilling this weekend homing in on its new Marwari gold target defined last month in maiden aircore drilling at the company’s Horse Well prospect in WA’s Yandal belt. Previous drilling at the prospect yielded a discovery hole which included an 8m interval running at an eye-catching 17.7grams per tonne gold which could indicate a new high-grade gold trend at Horse Well.

Auric Mining refuses to rest on its laurels, launching a grade control drill program at its Munda gold project near Widgiemooltha only days after recording one of the highest-ever gold price sales in Australia. Earlier this week the company sold 1361 ounces from its Jeffreys Find mine at $3130 per ounce to the Perth Mint for a gross revenue of $4.26 million.

Perth-based Chariot Corporation will hit the boards at the ASX today with its foot on pretty much every potentially lithium-bearing pegmatite in the US state of Wyoming and a clay-based lithium play in Nevada. With some pulse-quickening lithium rock chip grades already in the bag, the lithium-bearing pegmatites in Wyoming look like they are begging to see a drill bit.

Infinity Mining has picked up more ground right next to its Hillside Project in the East Pilbara, bolstering its total landholdings in the broader region to 975 square kilometres. According to the company, the new tenement has potential for shear-hosted gold and VHMS prospects given its ideal location within strongly structurally deformed greenstones. Exploration is expected to kick off in the next few weeks.

Xanadu Mines has uncovered a new gold zone below its Golden Eagle deposit at the company’s Kharmagtai copper-gold project in Mongolia with a follow-up drill campaign already underway to test the area. Promisingly, a diamond drill hole at the deposit returned results with a significantly higher grade than what was used to define the mineral resource at the operation in 2021.

Boots on ground at Allup Silica’s Cabbage Spot project has mapped out an extensive high-purity silica sand system within easy trucking distance to the Wyndham Port on WA’s Kimberley coast. The company collected 20 surface samples along a 2km traverse designed to help pinpoint future priority drill targets. Previous sampling across the surficial sand masses returned a plethora of high-purity results peaking at 99.4 per cent silica.

Australian-based reproductive biotechnology company, Memphasys says it has received a research and development tax refund of about $1.3 million from the Australian Tax Office. The refund has been used to repay an R&D loan to Radium Capital of $849,000 plus interest of $46,621 and its net refund of $419,466 will be reinvested and used as working capital.

Lycaon Resources has begun downhole electromagnetic surveys on two 800m deep diamond drillholes at its Bow River project in the East Kimberley region of Western Australia. The company is seeking to identify downhole and off-hole conductors potentially related to nickel-copper sulphide intercepts in both holes up to 45m wide which were also confirmed by pXRF. The results will inform the design of future deep drilling of the nickeliferous intrusion.

American West has kicked off a maiden drill program at its Copper Warrior project, following up favourable geophysical IP anomalies and outcrop samples returning up to 3.3 per cent copper. The project is located nearby the historical Big Indian Copper Mine and along strike from Utah’s second largest operating copper mine with the current program to include 10 RC holes with initial assay results expected in 4-6 weeks.