Making the grade: Explorers eMetals, Accelerate are today’s big movers

WA-based eMetals (ASX:EMT) is surging after a sampling program uncovered multiple drill targets at the Nardoo rare metals project.

Highlights included 2km of highly anomalous tungsten at the newly discovered Miru prospect, as well as rare earth neodymium at the newly discovered Cairn Hill prospect.

Drilling is planned for kick-off within the current quarter.

“The results are considered highly encouraging and present multiple drill targets for the company to follow up as soon as practically possible,” eMetals director Mathew Walker says.

“Although the Miru prospect appears the standout target with over 2km of highly anomalous strike length, inclusive of extraordinarily enriched tungsten values of up to 0.11 per cent WO3 in stream sediments, the anomalous rare earth neodymium identified at the newly discovered Cairn Hill prospect is also of particular interest.”

eMetals – up ~72 per cent to 2c per share in morning trade — bought Nardoo Well from gold explorer Venus Metals (ASX:VMC) in March.

The company changed its name from Corizon (not to be confused with Creasy-backed Pilbara gold play Coziron (ASX:CZR)) earlier this year.

Accelerate Resources (ASX:AX8) has identified drill targets at the Comet gold project, 30km from Musgrave Minerals’ (ASX:MGV) new gold discovery at Starlight, Cue, WA.

Musgrave has surged 420 per cent in the past three months as it delivers a series of stunning near-surface high-grade intercepts — like 2m at 112.9g/t gold from 36m — from Starlight.

Accelerate says historical data shows a number of gold targets and anomalous gold trends at Comet.

“We are excited to be able to undertake a review of one our IPO gold projects and identify exciting gold targets within the Cue district following the recent gold discoveries made by Musgrave Minerals to the south,” Accelerate managing director Yaxi Zhan says.

“Previous exploration identified numerous gold targets with limited work and only shallow RAB (rotary airblast) and RC (reverse circulation) drilling.

“The company is putting in place all necessary approvals to complete deeper RC drilling of these significant gold targets.”

The stock was up +50 per cent to 3.6c per share in morning trade.