Public Company News

Middle Island Resources is hitting its straps at Sandstone with the latest drilling results from its Ridgeway discovery delivering outstanding high-grade intercepts including 4 metres at 99.5 g/t gold which hosts a 1 metre resample topping the scales at an extraordinary 390 g/t gold. This continues a run of impressive results from the company which has seen it bank five new gold deposits since the start of the year.

Anglo Australian has entered into a farm out agreement with ASX-listed AuKing Mining that will see AuKing earn up to 75 per cent of its Koongie Park base metals project in WA's north by paying A$1m in cash and spending $3m on exploration over three years. Anglo said cash proceeds from the deal will be used to advance its flagship Mandilla gold project near Kambalda.

With its market cap now sitting comfortably over $100m, the hurdles are starting to drop now as Calidus Resources races towards gold production in the Pilbara. Arguably the most difficult hurdle to navigate on the pathway to production is EPA approval and Calidus now has this important one behind it at the Warrawoona gold project after getting the nod from the EPA.

Neometals Ltd is looking to create a low-cost vanadium production hub in Sweden by utilising its innovative processing technologies to treat waste from SSAB's Lulea steel mill. A recently tabled scoping study over the project estimates it will throw off almost A$80 million a year in cash flow over an initial 10.5-year life with the next stage of test work already underway.

Delecta Ltd looks set to ride the next uranium wave that is already starting to form with the ASX-listed company announcing it has picked up a controlling interest in a USA uranium project that is littered with old workings including high grade vanadium. Delecta will pay $150k and 20 million options for the Colorado based project entity.

In a sign that it is nearing the pointy end of development, AVZ Minerals has tested the market by calling for pre-mining tender submissions at its massive Manono lithium project in the Democratic Republic of Congo. The tenders are for infrastructure estimated to be worth USD$300m at Manono that boasts a gigantic 400 million tonne resource grading 1.65 per cent Li2O.

TNT Mines' punt that the old workings on its East Canyon project in the USA should still be harbouring some uranium and vanadium riches looks to have been bang on after the company said it could see “visible” uranium and vanadium in the old workings at its Bonanza and None Such prospects

Infill drilling at the emerging Grace prospect near the Youanmi mill in WA's Goldfields has thrown up more stellar gold intercepts for the ASX-listed JV partners Venus Metals and Rox Resources, including 2m at 176.03 g/t from 28m, within a total interval of 4m at 88.81 g/t gold from 27m. The latest results have extended the shallow deposit, with further, deeper results still pending.

Impact Minerals has been exploring its ground in the prolific Lachlan Fold Belt of New South Wales and the company's efforts have unearthed some exciting results with rock chips from the Greenobbys prospect returning up to 9.5 g/t gold, 215g/t silver and 745ppm bismuth. Rock chip samples from the Boda South prospect also returned up to 0.1 per cent copper, 2g/t silver and 40ppm bismuth.

With a combined gold ore reserve of some 1.4 million ounces grading 1.7 grams per tonne and a total resource of 93.2Mt grading a solid 2.13g/t for around 6.4m ounces, Wiluna Mining is having no trouble finding even more gold – all within the shadow of the old headframe. The company's exceptional recent results coincide with its recent rebrand from Blackham Resources to Wiluna Mining.

Podium Minerals is about to embark on a resource drilling program to test the prospective 15km strike length of its Parks Reef platinum group metals deposit near Cue. The company is aiming to define continuity in its west resource sector over a 6.1km length within the 15km Parks Reef zone. Drilling is also aimed at increasing the combined total strike length of resources within the reef to an impressive length of 8.5km.

Blackstone Minerals has upped the ante at its Ban Chang prospect in Vietnam with drilling intersecting 15.4 m of nickel sulphide mineralisation. The intercept extends the strike length of the target to over 1,200 metres and hints at the potential of the nickel system at depth. Exploration will continue throughout the region with results expected to flow from the ongoing drilling campaign soon.