Public Company News

Calidus Resources has entered into a Heads of Agreement to earn up to 70 per cent of the prospective looking Otways Project, located just 50km from its flagship Warrawoona gold project in the Pilbara. The initial part of the deal with ASX-listed Rugby Mining Limited, will see Calidus spend $200K on the Otways project and put 1,200m of RC drilling into it over 12 months.

Canadian-focussed Ardiden Limited is all set to kick off a diamond drilling program at the Kasagiminnis deposit where recent work adds significant weight to the prospectivity of its Pickle Lake project. The Kasagiminnis deposit contains a maiden resource of 110,000 ounces grading 4.3 grams per tonne gold and the company has set an exploration target of between 500,000 and 1.2m ounces.

On the back of a recent find at its Paradise alluvial gold prospect in the Pilbara, TSX-listed conglomerate gold pioneer, Novo Resources, has uncovered a new, fresh, shallow, alluvial gold-bearing channel at its Egina project in WA's northwest. Novo said the new channel that ties in well with its gold-bearing gravel terrace geological model has a width of 350m and a gravel thickness of 0.5-2.0m.

ASX-listed Venus Metals has entered into an option agreement with local prospectors to acquire a 90 per cent interest in an interesting looking base metals and gold land package. The agreement covers seven exploration license applications over an area of 1,366 square kilometres across the Narndee-Windimurra layered intrusive complex, just 15km west of the Youanmi igneous complex that hosts Venus' Youanmi gold interests.

Neometals has lifted the nickel resource at its Mt Edwards nickel project in WA yet again after expanding the resource at its Gillett deposit by a sizeable 30 per cent. Gillett now stands at 22,500 tonnes of contained nickel that sits between 80m and 350m below surface. Gillett is one of eleven ‘short lead time' deposits that Neometals is building.

Legend Mining believes it is closing in on the ‘big one' at Mawson's with drilling intersecting 30 metres of massive sulphides. The drill hole was designed to test a strong, ‘off-hole' geophysical conductor and returned three zones of strong massive sulphide mineralisation. The drill core samples are now headed for the lab with an estimated three-week turnaround for results.

Ora Banda Mining continues to exceed market expectations with ore reserves at its Davyhurst gold project leaping an impressive 60 per cent. This latest update puts 330,000 ounces of gold into Ora Banda's mine inventory and underpins the company's DFS. Pit design and financial modelling are nearing completion while mine scheduling is well advanced and due to be delivered in June 2020.

ASX-listed Coziron Resources has promoted its technical guru and Director, Dr Rob Ramsay to the role of Managing Director and CEO as the company seeks to add value to its exciting Top Camp gold prospect in the Pilbara. Coziron's board said Ramsay has been with Coziron for 12 years and played a central role in the discovery of high-grade gold mineralisation at Top Camp.

Altech Chemicals' research in Germany on high purity alumina used in lithium-ion batteries shows that only the pinnacle quality of HPA is safe and efficient. The research underscores Altech's high quality “4N” HPA product and makes stark comparison to lower quality products sometimes used that were shown to leach sodium from the batteries and cause discharge problems.

88 Energy has received an endorsement from the directors of ASX-listed XCD Energy in the latter's target statement responding to 88 Energy's formal takeover offer announced on April 24th. The XCD board has unanimously endorsed 88 Energy's offer of 2.4 88 Energy shares for each XCD share held and 0.7 88 Energy shares for each XCD listed option.

Blackham Resources' expansion strategy at its Wiluna Mining Centre is looking the goods with its latest drill campaign throwing up some exceptional grades from shallow depths. Best numbers include 14.45 metres at 17.16 g/t gold and 6 metres at 53.73 g/t gold that included a 1m intersection going an impressive 9 ounces to the tonne gold.

Kairos Minerals has locked away a $4.2 million capital raise corner-stoned by billionaire gold bull and fund manager Eric Sprott. Kairos is hoping to emulate the stunning success of neighbour, De Grey Mining and join the prestigious ‘million-ounce club' in the coming months with the money. An extensive fieldwork campaign will kick off in early June, with drilling in July.