Public Company News

Si6 Metals has unveiled clay-hosted rare earths hits from surface sampling at its joint-venture Caldera project in the State of Minas Gerais in Brazil, in addition to discovering further nickel-copper-cobalt at its Maibele North deposit, part of the company’s base and precious metals play in Botswana. Si6 will now kick-off an auger drill campaign at Caldera to test for higher-grade rare earths mineralisation at depth.

Xanadu Mines has kicked off a 5000m diamond drill campaign at its Red Mountain project in Mongolia with a focus on the discovery of shallow high-grade gold, porphyry copper-gold and copper sulphide lodes. The operation’s Target 33 prospect has been highlighted as a priority after previous drilling returned impressive results with a 40m section grading 1.06 grams per tonne gold from 26m including a 10m section at 3.7g/t from 50m.

White Cliff Minerals’ review of historic datasets for its Radium Point project in Canada has highlighted multiple high-grade uranium-copper-gold-silver targets including 14.15 per cent uranium oxide. The project forms the northern half of the approximately 2,900 sq km licence area held by the company which says results exceed its expectations and that the targets will be assessed in the upcoming 2024 field program.

ChemX Materials has pulled in $1.1m from sophisticated investors to help fund the completion of its High purity alumina pilot plant in Perth. The company will also look to raise another $500k from shareholders in an SPP and ChemX directors will kick $65,000 into the raise. The company’s HPA pilot plant is already 80 per cent complete.

Javelin Minerals has identified a large uranium target at its Stakeyard Well prospect that forms part of its larger Mt Ida operation in WA following a comprehensive data review of all its existing projects. Management says the review highlighted a strong anomaly that extends across a package of ground 28km in length by an average 3.3km width where historical air-core drilling revealed positive uranium results.

St George Mining has increased the strike at its Destiny clay-based rare earths project in Western Australia’s Goldfields region by 3km after air-core drilling at the site delivered solid results of up to 3160ppm TREO. The company returned thick and near-surface assays from 13 AC holes with highlights showing an 18m section grading 1919ppm TREO from just 18m including 3m reaching the peak 3160ppm TREO result from 30m.

Askari Metals is preparing for a flood of results from a major trenching campaign after submitting 2000 samples for analysis at its Namibian Uis lithium project. The company says it has now completed mapping and sampling of priority pegmatites on its north-easternmost exploration permit at Uis where it targeted four key pegmatites with 135 trenches for a total of 7269m of trenching. It is now working to generate additional targets.

Venus Metals is on a roll with the first drill campaign at its Deep South prospect within its Youanmi project in WA’s Murchison hitting lithium paydirt. High-grade lithium pegmatites were intersected at both the East and North zones, with strong tantalum enrichment also recorded. The best grade recorded in the maiden campaign came in at a significant 2.89 per cent lithium oxide.

This week’s Bulls N’ Bears ASX Runner of the Week is… Lord Resources. Its shares hiked more than 135 per cent to join fellow movers and shakers ADX Energy, Universal Biosensors and Lion Energy.

Gold Mountain says it has identified widespread granitoid and related rock types known to possess a strong potential to host rare earths minerals throughout its Down Under project in Brazil. The company says it has found many examples of leucogranites and charnockite rocks in five of its new tenements within the project where it is undertaking exploration stream geochemistry and other sampling.

Larvotto Resources is closing in on an international financing package worth US$8 million (AU$12.1 million) to help develop its Hillgrove antimony-gold project in New South Wales. The company has signed a non-binding term sheet with Xcelsior Capital and Wogen that will provide it with a pre-payment loan for the life of the Hillgrove mine and a working capital loan.

Altech Batteries has revealed a compelling set of numbers for its planned Cerenergy battery project in Germany, with its DFS forecasting a NPV of €169 million and annual revenue of €106 million generating EBITDA earnings of a juicy €51million per annum. The company says capital cost estimates of €156 million and a steady-state payback period of 3.7 years add to the project’s appeal.