Resources Top 5: Gold and nearology get investors fired up
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Here’s your top ASX small cap resources winners in morning trade Tuesday, October 13.
An 11m intersection grading 131.93g/t gold at the Smarts Underground prospect in Guyana is “world class by any standards”, says small cap miner Troy Resources (ASX:TRY).
Investors agreed, sending the stock up ~50 per cent to +2 year highs.
“Throughout my career, which has spanned multiple mining operations across multiple continents, I have only once previously been involved in the drilling of a hole with results anywhere near as spectacular as those from SDD189,” Troy managing director Ken Nilsson says.
Here’s what he’s talking about:
“Like me, Troy shareholders should look forward to receiving the maiden ore reserve calculation at Smarts Underground in the December Quarter with much anticipation.
“Smarts Underground certainly has the potential to make a significant financial impact on both the Karouni project and the value of Troy.”
Investors agreed, sending the stock up ~45 per cent to +2 year highs.
Troy expects to produce between 35,000 and 40,000 ounces at an all in sustaining cost of $US1,450 – $US1,550 per ounce in FY21.
Ardiden (ASX:ADV) has outlined a number of mammoth gold targets at the New Patricia property in Ontario.
The ‘Fold-Nose’ structure at the Esker prospect is larger in dimension than the Super Pit in Kalgoorlie, the company says.
New Patricia is a potential company-maker in its own right, Ardiden exploration manager Dan Grabiec says.
“Numerous and exciting kilometre-scale geological features have now been delineated for the first time with this modern-day, high-tech geophysical survey,” he says.
“We are seeing incredible structural detail over a regional scale thanks to Ardiden’s aggregation of adjoining gold properties.
“I’m genuinely excited for the time when we commence drilling and see what monsters are potentially hiding below the surface.”
This red hot stock is currently up 550 per cent over the past six months.
Nearology strikes again. Battery metals explorer Anson Resources (ASX:ASN) has defined three major nickel-copper-PGE targets at the Bull project, right next door to Chalice Gold Mines’ (ASX:CHN) high grade Julimar discovery in WA.
Anson will now move to rock chip sampling over the targets, which will guide a “systematic geochemical sampling program and ground electromagnetic survey providing future drill targets”.
The stock is now up +70 per cent over the past six months.
Resources & Energy Group (ASX:REZ) wants to start small scale gold production in Queensland to fund the hunt for a company maker at the East Menzies gold field in WA.