Gold: Metals Australia is hoping a bit of that nearology magic rubs off in the Youanmi
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For nearology lovers, the underexplored Younami province in Western Australia is the place to be.
Nearology puts a big investor spotlight on explorers within cooee of a huge, company-making mineral discovery.
Spectrum Metals (ASX:SPX), Rox Resources (ASX:RXL), and Venus Metals (ASX:VMC) are currently enjoying solid exploration success in the Youanmi.
Share prices tell the story. Spectrum, Venus and Rox are up a respective 2000 per cent, 85.7 per cent, and 275 per cent over the past six months.
Yep, you read that right – 2000 per cent.
So, it’s a smart move for $4.4m market cap graphite play Metals Australia (ASX:MLS) to dust off the Manindi project, less than 5km from Spectrum’s high grade Penny North discovery.
“Our Manindi project is surrounded by Venus Metals and Rox Resources and is located less than 5km from the Penny West North gold project owned by Spectrum Metals,” Metals Australia director Gino D’Anna says.
“This area has undergone significant transformation and is understandably attracting greater interest due to its potential to host significant high-grade gold mineralisation.
“We will commence a geological mapping and prospecting campaign on the tenement package at the Manindi Project to review and evaluate the potential for high-grade gold mineralisation, similar to other discoveries in the Youanmi gold district.”
Oh, and Metals Australia is already up 34 per cent (and counting) in early trade.
Underground bulk sampling at Challenger Exploration’s (ASX:CEL) historic Hualilan project in Argentina is returning exceptional grades like 110 g/t gold, 41.0 g/t silver and 0.8 per cent zinc. CEL managing director Kris Knauer says this sampling program continues to validate historically reported mineralisation — this time in the northern half of the deposit where the majority of infrastructure is located.
“In addition to this batch from Cerro Norte returning more high gold grades we are also seeing higher zinc grades than previously reported including some plus 30 per cent zinc assays,” he says.“Finally, and most importantly, the grades we are seeing remain consistently above the reported historical grades.”
Bardoc Gold’s (ASX:BDC) 247 sq km, 2.6moz namesake project near Kalgoorlie is shaping up. Recent drilling results, including 16.4m at 2.8g/t from South Castlereagh Main Lode, bode well for the project’s upcoming mineral resource estimate.
“The emergence of South Castlereagh is consistent with the company’s focus on developing a pipeline of satellite projects to complement our cornerstone deposits at Zoroastrian, Aphrodite and Excelsior,” Bardoc Gold chief exec Robert Ryan says. “Mining studies will commence following the release of the project-wide mineral resource update, with PFS studies due in Q4.”