Resources Top 5: Aus Tin cashed up for tin projects, Burgundy waits for diamond results
Link copied to
Amidst a rebound in the ASX today following last Friday’s dive, here are the five explorers making waves.
Amidst a tin shortage, Aus Tin Mining climbed today after securing firm commitments from professional and sophisticated investors for a $2m share placement.
The funds will add to its existing $1m and will be used to restore its balance sheet and progress various initiatives at its tin projects for the rest of the year. These include a bulk sample program to determine grade enhancement at its Taronga project in New South Wales,
Also on the cards are crushing and beneficiation studies to enhance recoveries and reduce both capital and operating expenditure along with a review of financing strategies for Taronga.
Burgundy Diamond Mines (ASX:BDM)
The diamond explorer has completed a two-hole program at the Mmashoro project in Botswana and is waiting for environmental permits for planned drilling at the Nata project.
Samples from the drilling have been shipped to South Africa for kimberlite indicator mineral analysis, though results are only expected in three to four weeks due to COVID-related border delays and a growing backlog at the laboratories.
Managing director Peter Ravenscroft added that the company is carrying out further targeting work and continued consolidation of promising exploration ground in Botswana.
The company has secured a new iron ore tenement that adds to its existing Razorback high grade iron ore project over South Australia’s Braemar iron formation.
The new Munster Dam tenement contains an inferred resource for iron ore of 1.5 billion tonnes and was included under the state’s Magnetite Strategy policy.
It is expected to deliver a range of synergistic benefits when integrated with Razorback, which is the subject of accelerated development with a pre-feasibility study currently underway for completion in the first half of 2021.
Several iron ore prospects are contained within the Muster Dam tenement including Duffields, Muster Dam, Peaked Hill and Surrender Dam.
The Muster Dam tenement is located 40km southeast of the railway town of Olary, 75km from a high voltage powerline, and 110km from the mining town of Broken Hill.
Azure has appointed Brian Thomas as its non-executive chairman, replacing Peter Ingram who is stepping down with effect from 30 June 2021. It has also appointed Annie Guo as its non-executive director.
Last month, the company confirmed a 200m strike length for sulphide mineralisation at its Andover project in Western Australia.
Notable assay results include 1.5m at 2.07 per cent nickel and 1.39 per cent copper from 261m.
(Up on no news)
Late last month, Amani Gold’s executive chairman Klaus Eckoff took up the additional role of managing director.
It had previously raised $3m to fund core drilling, resource estimates and DRC Feasibility Studies at the Giro gold project in the Democratic Republic of the Congo.
Giro has a resource of 4.4Moz of gold within the Kebigada and Douze Match deposits.
The company plans to complete targeted deeper drilling along strike from two previous drill holes.