Western Australian gold miner Red 5 has released positive assay results from a major drill program designed to advance the bulk mining opportunity at its King of the Hills (KOTH) gold operation (reports Small Caps).
The 30,000m drill program, undertaken along the Eastern Margin Contact Zone of the mine, returned wide zones of gold mineralisation, including an exceptional intercept of 312m grading 2.01 grams per tonne gold.
ASX-listed junior explorer Sunstone Metals could be the exploration success story of 2019 (reports Barry FitzGerald on Stockhead).
But it won’t know if that’s the case until it drills three high-priority gold-copper targets at its Bramaderos project in southern Ecuador.
And it can’t start drilling until it receives an environmental licence (drilling permit) from Ecuador’s Ministry of Mines – something that has been in the pipeline for the last couple of years, but with no cigar.
Emerging mineral sands miner Strandline Resources is closing in on funding for its Fungoni project in Tanzania, with due diligence on its proposed debt facility on track for completion next month.
Strandline revealed this week that the technical, financial and environmental due diligence process we well advanced as part of the mandate it awarded to Africa’s Nedbank late last year.
Investors stand to triple their money in Breaker Resources, says broker Patersons in a fresh research report released this week.
The bullish note from analyst Xavier Braud says Breaker shares, which are currently trading around at 33c, could go “anywhere between 80c and $1.10” on the back of the next resource upgrade at its Bombora gold deposit.
Braud’s note followed the release by Breaker of another batch of strong drilling results which extended the known length of the Bombora deposit by 200m to 2.5km. It also expanded the know width and depth of the deposit.
Aspiring lithium miner Liontown Resources is hoping to avoid the mistakes of some of the sector’s early movers by nailing down the metallurgy of its ore and making sure its plant design is right for optimum recovery rates (reports The West Australian).
Speaking to WestBusiness after a scoping study revealed a robust set of numbers for Liontown’s Kathleen Valley lithium project, 60km north of Leinster, chairman Tim Goyder said he was feeling “comfortable” but “excited” about his 20 per cent investment in the company.
A “simple growth story with some very good upside in a safe jurisdiction” might be selling PolarX’s Alaska Range multi-metal project short, but the company’s managing director Frazer Tabeart says the modest message is getting excellent traction with investors amid positive New Year market vibes (reports ResourceStocks).
And the company’s successful 2018 Alaska field season has ratcheted up interest from other parties, too.