Gold Digger: You choose — are these newly listed ASX gold stocks worth a punt?
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Gold-facing explorers are hitting the ASX with a vengeance in 2021.
Stockhead has run the ruler over seven of the newest listees, so you don’t have to. You’re welcome, have a great weekend.
While predominantly lithium focused, Arcadia also has an early stage copper-gold project in Namibia called ‘Karibib’.
It is immediately south of the active 80,000oz per year ‘Navachab’ gold mine and the significant ~2Moz (and growing) ‘Twin Hills’ gold discovery made by TSX-listed Osino Resources in 2019.
A good neighbourhood.
Previous explorers identified a northeast-southwest trending geological structure – up to 2.5km wide and 20km long — corresponding with known mineralisation.
“Sampling within this newly identified structural feature has yielded significant results which suggest that a copper-silver-gold-tungsten skarn … vein-type mineralisation-system is present along its extent,” Arcadia says.
Torque has two gold projects, Paris and Bullfinch, both in richly gold-endowed WA mining centres.
The 143sqkm Paris project lies within the Boulder-Lefroy Fault Zone, a prolific structure host to numerous large mines, including the mammoth 450,000oz per year ‘Super Pit’ in Kalgoorlie.
Torque plans to drill around the existing 32,000oz resource at the historic ‘HHH’ and ‘Paris’ mines, which remain open in multiple directions.
At Bullfinch — the first main goldfield established in WA — there are over 200 shallow prospector pits, shafts and early workings.
“Remarkably, very few modern exploration techniques have been applied in Torque’s project area,” the company says.
“Torque intends to unlock the true wealth of the area through the application of modern geophysical, geochemical and drilling technology.”
Obvious tip: always choose hard drilling explorers over the stocks that are all talk, no action. Codrus is an example of the former.
Here’s the schedule:
Flynn’s main game is underexplored northeast Tassie, where the company believes there are ‘Fosterville-style’ gold deposits to be found.
“The Victorian Goldfields have an extensive history of successful gold mining, having produced ~80 million ounces of gold, and are currently the subject of a dramatic increase in exploration activity and investment following the recent high-grade discovery at Fosterville,” Flynn says.
“The team at Flynn Gold has identified similar Victorian-style mineralisation in northeast Tasmania.
“Despite the geology and mining history, the northeast Tasmanian extension of the Lachlan Fold Belt has been significantly under-explored in comparison to that in Victoria.”
Queensland-focused Australasian Gold launched exploration programs on its flagship ‘May Queen’ gold project, and the ‘Mt Clermont’ project immediately on listing.
Historic drilling hit some shallow high grade gold at May Queen, but these previous explorers could never quite put it all together.
A8G says the geology has been misunderstood, and that some big potential lurks beneath.
“Multiple historical high grade shallow gold drill intercepts have been reported which potentially could represent a skarn and/or epithermal gold system,” the company says.
“Other gold and copper assays in feldspar porphyry indicate the project may potentially also host a porphyry mineralisation system.”
At Mt Clermont, over 6,700m of historical drilling has been completed, “showing potential for a high-grade polymetallic epithermal system”.
So, no one nabbed the ‘NKL’ ticker until Nickel X showed up. Huh.
This nickel-focussed explorer also has a gold project called ‘Black Dragon’, about 30km from the tier 1 300,000ozpa Tropicana mine in WA.
Exploration works at this high priority target are planned for the September Quarter 2021.
There has been a genuine bevy of excellent gold and copper intercepts on the ASX in 2021.
In May, newly listed QMines pulled up a highlight 13.4% copper, 6.11g/t gold and 31g/t silver at the ‘Mt Chalmers’ copper project in Queensland.
This was also QMines’ maiden diamond drilling program at the project, which hasn’t been touched since 1995. Results from seven holes are in, with three holes pending.
“The company’s maiden RC drilling program has also now commenced, and we expect to continue delivering results that will lead to a resource update in the near future,” QMines chairman Andrew Sparke says.