EDITION #208
Perth, Western Australia - Tuesday October 25, 2022
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
Galan Lithium books massive 2.5 times resource upgrade
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Shares in Galan Lithium surged 30 per cent higher during intraday trading following a game-changing increase of more than 150 per cent to the mineral resource of its flagship Hombre Muerto West project in Argentina. The revised estimate now tips the scales at 5.8 million tonnes of contained lithium carbonate equivalent grading 866 milligrams per litre - a staggering 2.5 times increase from the previous figure. |
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Record production beefs up Kaiser Reef bank balance |
Gold miner Kaiser Reef has improved its cash balance by almost $900,000 after finishing the September quarter with $7.44 million in the kitty compared to $6.58 million at the end of the last financial year. The company has also improved its head grade to an impressive 12.1 grams per tonne gold at a recovery rate of 96.2 per cent over the past three months compared to 10.1 g/t gold and a 93.3 per cent recovery for the June quarter. |
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Battery material production looms for International Graphite
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ASX-listed International Graphite’s production ambitions just received a massive shot in the arm after scanning electron microscopy indicated its processing pilot plant in Collie, WA could churn out high-quality “spheroidised” material. The milestone marks a crucial step toward the company’s ultimate goal of delivering battery anode material which is a fundamental component of a lithium-ion battery. |
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Brightstar primed to fund expanded gold exploration
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WA gold explorer Brightstar Resources is now debt-free after just over $6 million in debt was scrubbed from its balance sheet through two cash-less settlements. A larger burden of $5.4 million owed to private company, Stone Resources was lifted from the explorer’s shoulders in exchange for a net smelter royalty over selected tenements held by the company. A smaller debt of $630,000 owed to another private company, Great Cortex International was also extinguished from Brightstar’s books in exchange for a proportionate slice of shares. |
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Final assays boost upcoming lithium estimate for Latin |
Brazilian battery metals explorer Latin Resources has ended a resource definition program at its Colina lithium prospect on a high after tabling a bumper set of final assays. The feature result was a 5.7m intercept grading 2.66 per cent lithium oxide from 302m and the company now plans on feeding the results into a maiden resource estimate scheduled for release in December. |
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Infinity Mining survey to light up multiple Pilbara targets |
Infinity Mining has begun an electromagnetic survey across three of its projects in the Pilbara region as the company aims to home in on nickel, copper, gold and zinc anomalies. The explorer is surveying its Strelley Gorge, Panorama and Hillside projects near Marble Bar to identify drill targets for its upcoming exploration planned for 2023. |
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Chinese lithium heavyweight backs Askari
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Battery metals explorer Askari Metals is looking to beef up the development of its Australian lithium assets after signing a strategic agreement with Shanghai-listed lithium-heavyweight Zhejiang Kanglongda Special Protection Technology. The new partner has a market cap of nearly US$1 billion and also holds a controlling interest of 51 per cent in Jiangxi Tiancheng Lithium Industry that specialises in extracting lithium sulphate solution. |
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Alto bolsters WA gold project with high-grade assays |
ASX-listed explorer Alto Metals has intercepted a parcel of shallow, high-grade gold at its Musketeer prospect in WA stretching the target’s mineralisation to over 900m of strike. New assays include 9m at 5 grams per tonne gold from 71m and form part of a 32-hole, 4222m RC campaign aiming at infill and drill testing zones close to historical activity. |
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Lanthanein uncovers visual rare earths with drill bit |
Mineral explorer Lanthanein Resources has uncovered highly encouraging visual results at the company’s Lyons rare earths project in WA’s Gascoyne region after completing an RC drilling program. The 53-hole campaign intersected prospective rare earths-bearing ironstones at all four of the project’s prospects with a standout 6m-ironstone-hit from 19m downhole that remains open in all directions. |
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Classic chasing deeper gold after shallow strikes
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WA-focussed gold developer Classic Minerals has launched a 3000m drilling program at its Kat Gap project as it looks to follow up on high-grade shallow mineralisation struck in ongoing infill work. The 20-hole campaign will follow up a suite of notable near surface strikes including 3m at 13.23 grams per tonne gold from 32m. |
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More hits add grunt to Strickland gold project |
Strickland Metals has continued its hot-streak with more high-grade gold drill hits at the company’s newly discovered Wanamaker deposit just north of its Millrose gold resource, 85km north-east of Wiluna in WA. The latest results from its ongoing drill program at the project include a standout strike of 5m going 14.5 grams per tonne gold from 67m downhole. |
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New process unlocks fresh gold for Sihayo in Sumatra
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Sihayo Gold says transitional and fresh material from a zone beneath its proposed Sihayo-1 pit in North Sumatra, Indonesia could be economically mined following a recent uplift in metallurgical recoveries. The company recently announced its high-pH caustic pre-leaching process could recover over 80 per cent of the site’s gold and now plans on testing samples from a seven-hole, 2216m campaign to confirm its theory. |
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Zuleika gets rods spinning at three WA gold plays
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ASX-listed explorer Zuleika Gold has hit the go button on a 73-hole, 4490m air-core drilling program across a trio of target areas within its larger Zuleika and Credo projects near Kalgoorlie in Western Australia. The company is chasing gold across a raft of structural targets and says the probe could be completed by November with results due by the end of the year. |
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Tambourah heads to skies in multi-metal search
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Tambourah Metals has begun an airborne magneto-telluric survey across its recently granted Yerecoin prospect where the company is targeting nickel, copper and platinum group elements 120km north-east of Perth. The survey will also investigate multiple magnetic targets identified at Tambourah’s Bolgart and Wongan Hill South prospects across a strike length of about 80km that stretches from the town of Wongan Hills to south of Goomalling. |
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Godolphin winds up drill campaign, targets updated resource estimate
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Minerals explorer Godolphin Resources has overcome adverse ground conditions and successfully completed a 27-hole 1111m diamond drilling campaign at its Narraburra rare earths and rare metals project in Central NSW. The company is now eagerly awaiting assay results with the aim of updating its mineral resource estimate early next year from a previous JORC 2004 compliant inferred resource. |
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