In Case You Missed It: Nickel, copper and gold make a splash
Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today.
It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.
Stocks highlighted in green have made market-moving announcements (click headings to sort).
Nickelsearch (ASX:NIS) flagged more massive sulphide hits at Sexton, part of the Carlingup project in WA.
‘Massive’ sulphides generally have higher grades than other sulphide types (semi-massive, disseminated, matrix etc), but eyeballing core is no substitute for actual assays, which are due for release early August.
NIS says two new diamond drillholes pulled up visual sulphides in the upper and lower mineralised horizons — two distinct mineralised bodies at Sexton — with both horizons intersected “at shallower depths than expected” in the second hole.
Follow-up downhole electromagnetic (DHEM) surveys are now planned for these diamond holes to further test the extent of the sulphide mineralisation, “which exhibits a strong DHEM anomaly response.”
Everest Metals (ASX:EMC) said first pass deeper drilling at the Revere project in WA hit a “DeGrussa style mineralised system”.
Big if true. In early 2009, struggling explorer Sandfire Resources (ASX:SFR) discovered what would later become the world-class DeGrussa copper-gold mine, rapidly transforming its fortunes from a 4c penny stock into a ~$1bn mining company.
EMC says the three-hole for 1000m drilling program completed over a huge 8.5km target area hit sulphide mineralisation in all holes.
“The similarities in geological sequences when compared to the Sandfire DeGrussa VHMS deposit is geologically very significant,” the company said.
“We look forward to assays and downhole EM surveys to guide us on further testing the system.”
Warriedar Resources (ASX:WA8) says assays for the remaining 38 RC holes (of a total 47) recently drilled at its Rothschild deposit at its Fields Find Project in the Murchison region of WA have demonstrated the deposit is much larger than previously defined.
The results highlighted a much larger Main Lode extending it a further 150m vertical depth to 230m below surface.
The Main Lode also remains open along strike and at depth; with grade and width increasing with depth on the western side of the Main Lode.
Assays also discovered the existence of additional lodes with the new parallel Southern Lode demonstrating the significant scope for a much larger overall system – and potential further discoveries.
And Heavy Rare Earths’ (ASX:HRE) metallurgical test work at its Cowalinya project in the Norseman-Esperance region of WA has increased the grade twofold and magnet rare earth extraction at 91.3%.
A program is now underway to develop a downstream flowsheet to a Mixed Rare Earth Carbonate (MREC) product and generate samples for customer assessment.
At Stockhead we tell it like it is. While NickelSearch, Warriedar Resources and Heavy Rare Earths are Stockhead advertisers, they did not sponsor this article.