• Nimy explodes out of the blocks after hitting a buffet of metals and minerals at Mons project in WA
  • Burley continues to gain after yesterday announcing $1.8m raise at 6% premium to the last closing price
  • Iceni has a new managing director  and a $2.2m cash pile to drill its 14 Mile Well project in WA

Here are the biggest small cap resources winners in early trade, Thursday April 18.



The beaten down junior resources cohort is seeing something of a return to form, with stocks across the commodity spectrum chalking up bags (+100% gains) on the daily.

Most of these announcements are not that exciting, which could also indicate sentiment is returning to the sector.

Last week it was a handful of explorers like NewPeak Metals (ASX:NPM), Macro Metals (ASX:M4M), Krakatoa Resources (ASX:KTA) and Forrestania Resources (ASX:FRS) enjoying the big gains.

This week’s winners include Mount Ridley Mines (ASX:MRD), MRG Metals (ASX:MRQ) and now NIM, which exploded out of the blocks today after hitting a buffet of metals and minerals at its Mons project in WA.

(Okay, it’s down to 70% at lunch. Still good.)

The promising intercepts came from its Block 3 prospect, a large 3km magnetic anomaly unexplored until this point in time.

At Block 3 West, NIM pulled up elevated copper (0.20%), silver (2.2g/t) and sulphur (13%) values hosted by mafic rocks, highlighting potential for Volcanogenic Massive Sulfide (VMS) deposits.

VMS deposits – which often occur in clusters within a small area — are valuable sources of copper, zinc, lead, silver, and gold.

Copper, rare-earth oxides and gallium (up to 495ppm) in ultramafic rocks (MgO to 28%) were also intersected at Block 3 East.

An IP survey is now planned to track the sulphide trend along strike in search of higher-grade copper, gold, and silver, the company says.

Gallium exploration will also take a front seat.

“Gallium trioxide values above 100ppm are considered high grade and two substantial intervals of 52m at 105ppm and 72m at 117ppm are present within the Nimy drill holes,” exec director Luke Hampson says.

“Gallium production is dominated by China, which imposed export restrictions in the second half of 2023 causing an emergence of gallium focused exploration worldwide.

“A US designated critical metal, gallium has a variety of important uses within the semiconductor space.

“Given the high-grade large intervals of gallium Nimy will investigate the standalone commercial value of gallium, along with its role as a base metal pathfinder.”



Yesterday, lithium and iron ore hunter BUR announced a $1.8m raise at 6% premium to the last closing price.

The cash will be poured into the ground via maiden drilling programs at the Broad Flat Well and Cane Bore iron ore projects in the Pilbara.

BUR, which has enjoyed a +80% gain since the announcement, was “very pleased” at the high level of interest from investors.

“This additional funding will allow Burley to progress maiden drilling at its Pilbara iron ore assets,” Boss Stewart McCallion says.

“It is highly encouraging that the drilling permit has been approved for Broad Flat Well, and regulatory approvals are making headway for Cane Bore.

“Both projects have high-lying Channel Iron Deposits, are easy to access and are close to transport infrastructure and ports.”



ICL has a new managing director – successful gold hunter Wade Johnson – and a $2.2m cash pile to drill its 14 Mile Well project in WA.

Johnson is a veteran geologist with ~three decades experience in WA gold exploration, including 10 years as exploration manager with Newmont.

His last gig was at Kalgoorlie firm Lefroy Exploration, where he grew the resource base to over 1Moz of gold.

He will now use $2.2m in surplus asset sales to spearhead ongoing exploration programs at 14 Mile Well, including drilling at the Guyer Well, Everleigh Well, Goose Well, and Hages Bore Gold targets.

“At a time of a record gold price, it’s an exciting time to be conducting exploration on a large contiguous ground holding with an outstanding portfolio of targets and close to gold processing hubs,” Johnson says.

“I am really looking forward to the final preparation for the upcoming RC and air core drilling programs and understanding the potential for advancing these gold anomalies to a discovery.”



The $13m capped minnow is now up ~70% on high volumes since scoring land access to drill its Stansmore project in WA’s West Arunta region earlier this week.

The West Arunta is home to WA1 Resources (ASX:WA1), one of the ASX’s biggest exploration success stories in recent years.

LYN is hoping to replicate some of that success at Stansmore, which is prospective for both niobium and rare earths.

Technical director Thomas Langley says the approval is a pivotal step in its efforts to test the high order magnetic target at Stansmore.

“Our focus will now turn to organising a heritage survey ahead of drilling mid-year,” he says.

“The West Arunta is one of the last frontiers for major critical mineral and copper-gold (IOCG) discoveries in Australia.

“The identification of niobium and rare earth mineralisation associated with carbonatite intrusions by WA1 Resources and Encounter Resources nearby in their first ever drill programs signifies the extremely prospective and underexplored nature of the West Arunta.”