Resources Top 5: Boab Metals stars with 60pc gain; WMG hits 1% nickel
Here are the biggest resources winners in early trade, Monday December 4.
(Up on no news)
Base and precious metals explorer Boab is surging up and to the right about 60% at the time of keyboard tapping on… nope… we’re not seeing a thing just yet. We’ll let you know when we know.
BML’s now up more than 90% over the past 30 days, although YTD it’s still down about 33%.
The WA company’s last piece of major news came almost a month ago, on November 8, when it made significant intercepts at the Keep Seismic prospect within its 75% owned Sorby Hills lead-silver-zinc project in the Kimberley region of WA.
Headlining its base metal highlights at that time:
• Hole SHSD_185 – 9.55m at 5.10% PbEq (2.59%Pb& 2.26% Zn) and 17.6g/t Ag from 242.55m.
• This includes – 3.12m at 13.43% PbEq (6.37% Pb & 6.36% Zn) and 26.5g/t Ag from 245.36m.
Boab’s MD and CEO Simon Noon rated the zinc-lead sulphide intersections “an outstanding success given the conceptual nature of the target and its location in an area, and at a depth where no mineralisation has been intersected before.”
The company believes that find will be a catalyst for further exploration and has great expectations for the Sorby Hills site.
BML share price
WA gold ‘n’ nickel explorer was on a tear late last week after releasing an assay-results-focused update into the wild regarding its significant nickel system at its Mulga Tank project (see December 1’s Resources Top 5).
WMG is at it again today with further positive results on the back of assays on Friday for six RC holes, including one strike of 327m at 0.26% nickel, 133ppm cobalt, 74ppm copper, 25ppb platinum and palladium.
Today’s update lifts the grade, though, noting three RC holes, with MTRC015 hitting multiple intersections over 1% nickel.
“All holes show broad zones of nickel sulphide mineralisation – elevated Ni and S coincident with highly anomalous Cu and PGE,” notes WMG.
And there’s a possible higher-grade core emerging in the centre of the system, with – follow-up RC drilling planned.
WMG MD Dr Caedmon Marriott said:
“Assay results have now been received for half of the 22 RC holes and our ‘hit rate’ continues with all of them showing broad zones of nickel sulphide mineralisation.
“This latest batch returned the best results to date with MTRC015 containing multiple intersections over 1% Ni, MTRC016 containing 200m at 0.3% Ni, with 35m at ~0.5% Ni and neighbouring hole MTRC017 also returning some intervals of ~0.5% Ni at similar depths.”
WMG is now up 131% YTD.
WMG share price
(Up on no news)
Adding to a so-far-slow-news day on the bourse, and yet still notable for a 24% rise at time of writing, is $31m market capping gold and copper explorer WA8, which has an existing resource base of roughly 2Moz gold across WA and over in Nevada, US of A.
Digging around for anything fresh today isn’t pulling up much info as yet, but we’ll be sure to write about it if something arises. In the meantime, we can tell you that the company is preparing to cap off a busy year on a positive note as it lays the groundwork for further drilling at its Golden Range project in the Southern Murchison region of WA.
A golden nugget of our own – Sarah Hughan – sat down recently with Warriedar’s managing director Amanda Buckingham recently, actually, to get the short end of the long story on the company’s latest and upcoming works. Check that out here.
Warriedar picked up the historic Fields Find and Golden Dragon (now known as the Golden Range) projects earlier this year, which instantly doubled the company’s resources to ~2Moz.
Golden Range is smack bang on top of the previously mined Golden Dragon, which produced some 310,500oz gold from shallow oxide pits between 2001 and 2019.
On November 9, the company announced that its drilling had recommenced at both its Golden Range and Fields Find projects in Southern Murchison.
A lovely sunset at the end of a busy day onsite at our Golden Range Project. Preparing for the next drilling program.
— Warriedar Resources (@WarriedarRes) November 1, 2023
WA8 share price
(Up on no news)
This WA gold-lithium explorer is another no-news gainer today.
Like many an ASX-listed basic materials stock, it’s had an up and down year, with a current YTD return of -23%. The past 30 days or so, however, sees the company on an upswing of around 30%, and it’s making an 18% daily gain at the time of writing.
According to its most recent quarterly report, MBG noted its activities are still primarily focused on its 100% owned Abercromby gold project in the Agnew-Wiluna greenstone belt, along with its recently acquired, 100% owned Bullabulling lithium and gold project near Coolgardie.
Perhaps investors believe there’s something brewing.
At Abercromby, BMG has this year pushed its dual focus of development and exploration to build on a maiden Mineral Resource Estimate of 11.12Mt at 1.45g/t Au for 518koz Au at the Capital Deposit.
At Bullabulling, in the most recent quarter, the company had the drills spinning hard, following up a maiden 20-hole reconnaissance campaign completed in May – which intersected LCT pegmatites up to 22m thick along with high-grade gold mineralisation.
BMG share price
(Up on, yep, you guessed it… no news)
Tesoro Gold, a small Australian goldie with a Chile-focused precious metals exploration bent, is sporting a 20% glow at the time of writing.
Down 16% for the year to date, it has, however, been pulling back its 2023 share price deficit bit by bit of late, having a pretty decent run from mid-October to this point. TSO is now up about 42% over the past 30 days.
On October 19, the company announced a “new large gold anomaly defined at Drone Hill”, a never-been-drilled-before area slightly west of the company’s Ternera gold deposit, which is part of its El Zorro project in Chile.
The company reported that the anomaly has wide outcropping intersections of up to 47m, including:
47m at 1.40g/t Au (with 9m at 4.66g/t Au); 15m at 0.53g/t Au; 3m at 1.88g/t Au; 2m at 5.21g/t Au; and 3m at 2.11g/t Au.
The surface mineralisation is confirmed to extend at least 750m west and 380m south of the Ternera deposit.
More recently, on November 13, Tesoro announced it’s received binding commitments to raise about $3 million (before costs) to advance El Zorro, including drilling, project studies and new regional target generation.
Strong support came from institutional and sophisticated investors including a commitment of $1,247,200 from strategic partner Gold Fields (JSE:GFI, NYSE:GFI).
Dr Nick Oliver demonstrating cross-cutting relationships at our recent exploration workshop on-site at the El Zorro Gold Project, Chile with the @TesoroGoldLtd team and @GoldFields_LTD geologists.@Fivemark_IR #Exploration #GOLD #Chile #Mining pic.twitter.com/ClimYQs1CA
— Tesoro Gold (@TesoroGoldLtd) November 29, 2023
TSO share price
At Stockhead, we tell it like it is. While WA8 is a Stockhead advertiser, it did not sponsor this article.