Resources Top 5: Big gold hits, new lithium targets, and minnow jumps on JV deal with Rio Tinto

TechGen enters farm in with Rio over its Harbutt Range Project
Great Boulder strikes a thick, high grade and shallow intersection of 15m at 35.82 g/t gold from 88m
Forrestania identifies new high priority lithium target

Here are the biggest small cap resources winners, Monday September 5.

TechGen Metals (ASX:TG1)

TG1 has inked a binding farm-in term sheet with big boy Rio Tinto (ASX:RIO) over its Harbutt Range Project in Western Australia’s Paterson Province.

The Paterson is host to several world-class operating mines such as the Nifty Copper Mine, the Telfer Gold-Copper Mine and more recent new discoveries including the Winu Copper-Gold deposit and Havieron Gold-Copper deposit.

Under the farm-in and joint venture, RIO may earn an 80% joint venture interest in the project by sole funding A$3m of exploration within five years.

Harbutt Range is prospective for several mineralisation styles include intrusive related copper-gold and sediment hosted base metal (copper-lead-zinc-silver).

WHITE CLIFF MINERALS (ASX:WCN)

This small battery metals/ critical minerals explorer just wrapped up a $1.7m placement to driving lithium and REE exploration at the company’s Yinnetharra, Hines Hill and Diemals projects.

WCN technical director Ed Mead says the company is pleased with the strong support for the placement and believes it has an excellent portfolio of projects.

“This funding will allow us to quickly move to an aggressive exploration program on a number of fronts,” he says.

GREAT BOULDER RESOURCES (ASX:GBR)

This ~$41m market cap goldie has caught a gust of wind today after hitting what it describes as a “spectacular” (and shallow) intersection of 15m at 35.82 g/t gold from 88m, including 6m at 83.58 g/t from 96m at Mulga Bill within the wider Side Well Gold Project.

GBR says this new intersection – which is the highest individual assay drilled to date – extends the high-grade vein 30m further south and is located on the same vein that hosts previous intersections of 5.9m at 39.37 g/t gold from 84.3m.

An AC rig is mobilising to site and will begin drilling at Loaded Dog and Mulga Bill to test geochemical anomalies immediately north of Ironbark.

“This spectacular is the highest-grade intersection and the highest individual gold assay drilled to date at Side Well. It’s interpreted to be close to true width, so it’s among the widest intersections of +25g/t Au in drilling we’ve yet seen,” managing director Andrew Paterson says.

“It demonstrates that we’ve not yet closed off this high-grade vein area, which sits in the northern end of Mulga Bill containing many of the highest-grade intersections in the project, which has been the focus of recent drilling in our Phase 3 and 4 RC campaigns this year.”

FORRESTANIA RESOURCES (ASX:FRS)

FRS has identified a new “high priority” lithium target within a large, untested area east of the Gem Pegmatite mine at its flagship Forrestania Project.

New results show a previously un-assayed diamond hole GCDD000 is anomalous for lithium and pathfinder elements, suggesting a possible relationship with pegmatite intersections from historical RAB drilling at the nearby Gem Pegmatite mine.

The Gem Pegmatite target is part of the broader Gemcutter prospect which is centrally located within the Forrestania Project.

FRS CEO Angus Thomson says this is an exciting development and reinforces the potential in the area.

A Program of Works has been approved and planning for an initial drill program within the December quarter is underway.

EMETALS (ASX:EMT)

(Up on no news)

The micro-cap explorer announced the acquisition of a 469sqkm project prospective for ionic clay (IAC) rare earths in WA’s Albany Range province late last year.

The Salmon Gums acquisition is close to EMT’s existing ‘Cowlinya’ REE project. It is also a stone’s throw from recent IAC discoveries made by Mount Ridley Mines (ASX:MRD) (~35km away) and Salazar Gold (~20km away).

IAC deposits are relatively rare outside of China but are commonly considered to be some of the cheapest and most readily accessible sources of heavy rare earths