Resources Top 5: Azure starts the week with ‘substantial’ nickel-copper hit
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Here’s your top ASX small cap resources winners in morning trade Monday, November 9.
Managing director, Tony Rovira, said the Andover project has the potential to host a “substantial” nickel-copper deposit.
“While we are still at an early stage of our exploration, the intersection of good widths of nickel and copper sulphide mineralisation at shallow depths bodes well for further success and has encouraged us to drill test the electromagnetic conductors along strike and down dip from our early holes,” he said.
Drilling included hits of 3.9m at 2.85 per cent nickel and 0.47 per cent copper from 94.5m in massive sulphides.
The company is targeting three geophysical anomalies believed to be repetitions or extensions of the high-grade Jubilee quartz reef.
The target has stayed untouched since the historic Jubilee mine closed in 1913 that produced 130,000 ounces gold at around 12 grams per tonne.
“The Jubilee mine has seen no real exploration in more than a century, despite having a history of yielding high-grade gold from a single transverse quartz reef structure,” managing director, Ian Holland, said.
Jubilee is within 25km of LionGold’s Ballarat gold operation.
Navarre Minerals is exploring for gold deposits in an extension of a corridor that is host to the Stawell and Ararat goldfields.
Investors in European Metals Holdings (ASX:EMH) responded well to its plans to list on the US OTCQX market to access US investment.
“The expansion into additional marketplaces is due to long-standing and growing support for the company in various international locations,” executive chairman, Keith Couglan, said in a Friday ASX statement.
The over-the-counter market place for shares is operated by OTC Markets Group and allows company stock to be traded between a network of dealers.
“As the home of major battery-focused companies such as Tesla, North American investors are uniquely placed to understand the importance of lithium for future technologies,” added Coughlan.
The company’s Cinovec project is Europe’s largest resource of hard rock lithium and is strategically located near end-user carmakers and battery manufacturers.
Diatreme Resources (ASX:DRX) took flight in Monday morning before trading in its shares was paused ahead of a market announcement.
The company is advancing environmental approvals for its Galalar silica project in Queensland, said its recent September quarter report.
Diatreme Resources is targeting high-end premium silica products from its Galalar project near Cooktown in northern Queensland.
The company also has its Cyclone zircon project in WA on the border with South Australia.
Argent Minerals (ASX:ARD) was another winner in early Monday trade, although there was no fresh news from the company.
The company recently restarted drilling at its Kempfield silver project in NSW, after bad weather halted progress and is due to receive assay results in November.
Kempfield has a mineral resource of 52 million ounces of silver equivalent contained metal, said the company on its website.
At Stockhead we tell it like it is. While Azure Minerals and Navarre Minerals are Stockhead advertisers, they did not sponsor this article.