• Essential hit thick high-grade lithium at Pioneer Dome in WA
  • Revolver kicks of exploration at the flagship ‘Dianna’ copper project in QLD
  • Stephen Copulos backed CZL ramping up production at recently refurbished ‘Plomosas’ zinc-lead-silver operation in Mexico

Here are the biggest small cap resources winners in early trade, Friday October 15.



Several thick, decent grade lithium drilling hits — like 26m @ 1.46% Li2O from 51m – were returned from the upper zone of the ‘Cade’ deposit, part of the Pioneer Dome project in WA’s “lithium corridor”.

This is an area in the Eastern Goldfields is rich with world class spodumene deposits, like Bald Hill, Mt Marion, and Buldania.

Cade is part of the “Dome North’ area, where a resource of 11.2Mt @ 1.21% Li2O has already been defined.

Remaining assays from the ~6,000m drilling program at Dome North are expected to be received in the next two weeks, ESS says.

“These assay results once again reinforce that the Dome North area hosts a high-quality resource with the potential to be mined with minimal overburden,” ESS managing director Tim Spencer says.

“We now need to undertake further drilling and metallurgical test work to advance the project towards development in parallel with more exploration.”

“We will announce the program details as soon as we can finalise the various practicalities and contractors.”

The company says a mining lease application is expected to take 6 – 12 months, while project costings, enviro and hydro studies should be completed by year-end.

The $47.5m market cap stock is up 150% year-to-date.



Yesterday, the recent listee kicked of exploration at the flagship ‘Dianna’ copper project in Queensland.

Revolver has fast tracked several field mapping and sampling programs ahead of planned drilling in November, in preparation for a maiden JORC resource.

Historically, Dianne produced 63,578 tonnes of copper at an eyewatering average ore grade of 22.7% copper.

RRR is now +130% since listing on the ASX late last month.



30%-owned by big name investor Steve Copulos, CZL’s main focus is the recently refurbished ‘Plomosas’ zinc-lead-silver operation in Mexico.

In Q2, the $8.3m market cap company eked out a $195,000 profit before tax on the sale of 632t zinc and 158t lead in concentrate.

Cash costs for zinc produced were $1US.30/lb for the quarter, and $US1.18 year-to-date.

Zinc currently sells for ~$US1.60/lb.

CZL is now ramping up to 4,500t per month throughput from 9,000t of ore processed during the last quarter (~3,000/t per month).

The company had $3.6m cash at the end of Q2, and about $100,000 in debt.



Audalia Resources’ (ASX:ACP) main game is the ‘Medcalf’ vanadium-titanium project in WA, which contains a resource estimate of 31.8Mt at 0.45% vanadium and 8.36% titanium.

Successful pilot scale production in 2020 (a smaller version of the real thing) showed high recoveries of iron, vanadium, and titanium.

The explorer is currently chasing environmental approvals, a ‘must-have’ for project construction to go ahead.

Sleepy tiddler Genesis Resources (ASX:GES)  has been slowly advancing its flagship ‘Plavica’ gold-silver-copper project in North Macedonia going on three years.

The Government approvals process is now at the pointy end, with environmental studies the last required submission.

It also has a couple of manganese projects in Queensland and the NT which could be timely – prices for the forgotten battery metals are gathering steam.