Public Company News

Latitude 66 is gearing up for an innovative exploration initiative at its flagship Kuusamo Schist Belt gold-cobalt project in Finland, with plans to deploy reverse circulation drilling for the first time in the region. The company has locked in an agreement to trial the RC technique this March at its K6 prospects, which lie just 1km south of its existing 650,000-ounce gold and 5840t cobalt mineral resource.

Kalgoorlie Gold Mining will fast-track a follow-up reverse circulation drilling program after earlier this week revealing the impressive Lighthorse gold discovery at its Pinjin project in WA's Eastern Goldfields. An RC rig will target deeper host rock after earlier air core drilling hit a rich supergene zone. The latest drilling is set to begin in early March.

Ora Banda Mining has uncovered a new gold discovery – along with another set of blockbuster results from deep drilling at its Riverina mine in Western Australia. The results will also extend the deposit's mine life. The company's depth extension drilling campaign has continued to intersect high-grade gold for more than 300m below its current mine plan, further extending the life of mine at the company's ever-refining Davyhurst operation.

Amid a surge of investor interest in its flagship Malawi rare earths project, Lindian Resources is advancing its financing options with a new hire to work on an existing deal and recommend further solutions. Experienced finance advisor Henk Ludik will progress a non-binding agreement Lindian has in place with US-based Gerald Group, and identify, review and recommend more funding solutions.

Carnaby Resources hit shallow, high-grade copper of up to 4.9pc and gold grading as high as 2.8g/t from just 22m depth at its Burke and Wills prospect, part of the Greater Duchess JV with ASX-listed Latitude 66 in Queensland. All 10 drill holes intersected mineralisation, helping to define deposit geometry and test extensions. Latitude holds a 17.5pc free-carried interest in the project.

St George Mining has secured $8 million in backing from leading global mining engineering firm Shandong Xinhai Mining to fast-track the development at its high-grade Araxá niobium-rare earths project in Brazil. The company has formed a major strategic partnership with the engineering and construction services giant through an agreement that includes an engineering, procurement and construction contract over Araxá.

Lithium Universe has partnered with a research-focussed Canadian engineering school, Polytechnique Montreal, to drive innovation in lithium processing in the country and increase local expertise in battery metals to improve its supply chain. The initial five-year deal, outlined in a memorandum of understanding, will focus on three key areas: industry education, curriculum development and R&D collaboration.

Horizon Minerals has launched its second gold mine, kicking off ore processing at its Phillips Find project, 45km northwest of Coolgardie in WA. Mining at the Newminster and Newhaven pits is well underway, with more than 800,000 cubic metres of material now shifted to the ROM pad. The first 40,000t have been trucked to FMR Investments' Greenfields mill, where processing will begin next week on a two-week turnaround.

Estrella Resources has received some stunning assay results from rock chip sampling from two in-situ supergene manganese discoveries at its Lautém project in Timor-Leste, with grades up to a striking 58.6 per cent manganese. Bulk determinations for detrital material accumulated on valley floors average a whopping 40.1pc manganese.

Askari Metals has pumped up its gold resource by 28pc to 82,700 ounces grading 1.2g/t at its Burracoppin project in the WA Wheatbelt, winning over market punters who pushed up the price earlier today by more than 100pc. Due to a booming gold price, the company says it has fielded significant enquiries for the project, which sits 20km east of Merredin.

Uranium American Resources is making a strategic pivot from its gold-silver focus in the US State of Nevada under its old Tonogold Resources shingle, with a rebrand reflecting the company's greener uranium and vanadium focus. The company last year acquired three low-risk west-central US projects known for their historic uranium and vanadium production, which are also close to relevant mines and processing plants.

Red Metal's latest infill drilling program has unearthed thick intersections of valuable magnet rare earths at the Kary zone within the company's Sybella project, 20km from the Queensland mining town of Mount Isa. Multiple long intervals up to 162m thick containing the four magnet metals were encountered from surface or shallow depths from the infill drilling, with many holes ending in mineralisation.