Perth, Western Australia - Thursday October 20, 2022
Strickland delivers project best gold results in WA
Strickland Metals is on a roll, returning its best assay results to date from its recently discovered Wanamaker deposit in Western Australia, serving up a 7m hit at an exciting 22.2 g/t gold. The latest assay result comes from drilling 50m north of where the initial Wanamaker discovery was made and extends the mineralisation footprint of the Millrose project to more than 3.2 kilometres.
Lithium Energy reveals major Argentine lithium discovery
Lithium Energy has broken its share trading halt with news of a major lithium discovery at its flagship Solaroz lithium brine project in Argentina. Shares in the company spiked to an intraday high of $1.42 on the back of significant preliminary results from its maiden drill hole. More than 170m of prospective sandstones hosting the lithium-rich brines have been intersected so far with drilling continuing to plunge the depths. 
Alto lands dealmaker Mark Connelly as Chairman
Alto Metals has locked in local mining identity and prolific dealmaker Mark Connelly as its new Chairman. Connelly has led a number of successful deals in the mining space both in Australia and overseas and is perhaps best known for negotiating a deal to sell Papillon Resources’ Mali gold play to Canadian listed B2Gold for US$570m in 2014 as CEO of Papillon.
Study confirms billion-dollar revenue for PolarX in Alaska
USA-focused mineral explorer PolarX has been buoyed by a recently completed scoping study on its Alaska Range copper-gold project highlighting a potential NPV of $103m from the combined mining of the project’s high-grade Zackly copper-gold-silver and Caribou Dome copper deposits. It also confirmed the project’s potential viability and leverage from future resource expansions.
More ounce plus gold hits for Askari in Wheatbelt
Final assay results from phase 3 drilling at Askari Metals’ Burracoppin project show continuity of high-grade mineralisation at its Easter Gift prospect with a 1m hit coming in at an impressive 45.5 grams per tonne gold. The 45.5 gram hit was contained within a wider 3m section grading 17.41 g/t gold from 73m that also included 1m at 2.18 g/t from 74m and 1m recording 4.54 g/t gold from 75m.
Kula Gold expands lithium potential in WA
Kula Gold’s expanded on-ground exploration program at its Brunswick project in WA’s south-west appears to be paying off, with the discovery of a clutch of additional potential lithium-pegmatite targets. The addition of five fresh targets, following six lithium targets identified earlier this month, has raised the stakes for Kula, driving it to scale up exploration activities across its terrane.
Classic inks deal to kick off WA gold production
Classic Minerals has entered into a non-binding Memorandum of Understanding with private company Barto Gold Mining for the toll treatment of ore from the company’s flagship Kat Gap gold deposit in WA. The non-binding agreement comes not long after the ink dried on Classic’s terms sheet with another private company Goldvalley Brown Stone for $10 million in non-recourse funding to facilitate the extraction and processing of its ore.
KalGold to drill test 3 Goldfields targets
Kalgoorlie Gold Mining has begun testing three prospects in the WA Goldfields with a short RC drill campaign aimed at firming up the extent of gold mineralisation at its Bulong Taurus project about 35km east of Kalgoorlie. The company has secured a total of 39 gold rights comprising an exploration licence, mining tenements and prospecting licences on land that has been mined since the 1890s.
State Govt to tip $2m into International Graphite
The Western Australian State Government has seemingly rolled out the red carpet for ASX-listed International Graphite after the pair concluded a $2 million financial assistance agreement as part of the Collie Futures Industry Development Fund grant. The deal could help the budding developer establish itself as a domestic source of battery anode material – a key ingredient in the production of lithium-ion batteries.
Estrella upgrades nickel resource, presses ahead with DFS
Estrella Resources has announced an upgrade of the nickel resource estimate at its Spargoville project’s 5A deposit, 20km south-west of Kambalda, with most of the resource now in the more confident “measured” category. Estrella is pressing ahead with optimisation work for a definitive feasibility study and is focused on 16 000 tonnes of massive sulphide grading 7.8 per cent nickel below 5A’s existing open pit.
Ora Banda churns out more high-grade gold near Kalgoorlie
Ora Banda Mining has recorded high-grade hits from extensional drilling at its Main Lode prospect under the Riverina open pit that has increased mineralisation at the deposit to more than 350m below surface. The company has completed 12 holes of a planned 30-hole campaign at the project north-west of Kalgoorlie with assay highlights including a 1.2m hit at an impressive 29.3 grams per tonne gold from 359m in addition to 2.8m going 6 g/t gold from 357m. 
Horizon Minerals locks in funding for WA gold mine
WA-focused explorer Horizon Minerals has executed a binding term sheet with US-based resources financer, Nebari Partners LLC, for a US$5 million senior secured credit facility to develop the company’s Cannon gold project in WA. The funding agreement comes hot on the heels of Horizon’s A$300,000 sale of its Kangaroo Hill and Phoenix gold projects to Greenstone Resources earlier this month as it looks to lean down and focus on the more-advanced assets in its portfolio.
Venus, Rox release scoping study for Mt Magnet gold project
Joint venture partners Venus Metals Corporation and Rox Resources have released a scoping study for their Youanmi gold project near Mt Magnet in WA which includes a projected production of 71,000 gold ounces per year. The study predicts the site will be capable of producing about 569,000 gold ounces over an eight-year mine life at an average head grade of 5 grams per tonne gold.
New tests boost US copper potential for American West
American West Metals has tabled an “outstanding” set of metallurgical test results that highlight exceptional recoveries of 94.4 per cent zinc and 78 per cent copper from samples taken at its West Desert project in Utah. The company is already sitting on a 59 million tonne-plus resource at the operation and says the results indicate a significant slice of the operation’s mineralisation is amenable to low-cost, heap leach processing.
Gold strikes to feed potential resource upgrade for Maximus
Maximus Resources will be looking to add to the resource base at its Wattle Dam project after the company struck a patch of high-grade gold mineralisation whilst drilling at its Golden Orb/S5 trend in Western Australia. The 26-hole, 4100m RC campaign tested mineralisation controls and gaps in historical drilling and returned a flurry of wide intercepts, including 11m at 3.8 g/t from 37m.
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