• Great Western Exploration defines ‘DeGrussa-like’ copper gold target
  • Helix harnesses recent popularity to raise $4m for “aggressive copper drilling”
  • Popular explorer Alligator picks up more uranium-rich ground next to flagship ‘Samphire’ project

Here are the biggest small cap resources winners in early trade, Tuesday May 18.



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It’s a great time to be an emerging gold miner as prices creep up toward $US1,900/oz.

In late January, Kaiser Reef became a fledgling producer after acquiring the very high grade A1 gold mine in Victoria.

A1 has produced ~500,000oz of gold since 1861 and is still going strong — over the past 18 months the mine has provided the processing plant with ore grading a very high 11.4g/t gold.

Kaiser is ramping up to mechanical mining of the high grade ‘Queens Lode’ in the coming months.



Soil sampling has defined a large scale copper-gold target called ‘Thunder’ near the DeGrussa deposit in WA.

Miner and explorers have been hunting for the next DeGrussa – a discovery that put former struggler Sandfire Resources (ASX:SFR) on the map – for over a decade.

“Sandfire’s DeGrussa deposit is thought to have formed from the intrusion of dolerite and basalts into poorly consolidated and saturated Proterozoic sediments, similar to those found at the Thunder copper-gold target,” Great Western says.

“Drilling of Thunder is planned for August 2021.”



Explorer Helix harnessed a recent popularity to raise $4m for “aggressive copper drilling”.

The issue price was 2.7c: a respectable 13% discount to the last closing price of 3.1c.

Last week, drilling hit 29.5 metres of copper sulphides at the advanced Canbelego project in NSW, ~80 metres ‘down dip’ from a previously reported 24m interval.

A new zone was also hit which may represent a second copper lens, or structural ‘repeat’ of the existing 1.5Mt Canbelego resource, Helix says.

“The next six months will not be dull!” managing director Mike Rosenstreich says.



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The newly listed iron ore explorer has officially recovered after stumbling on debut last week.

Spun out from Jupiter Mines (ASX:JMS), Juno owns the Mt Mason hematite project and the Mt Ida magnetite project in WA’s Yilgarn region.

Mt Mason is a near-term development opportunity. Mt Ida is a larger, longer-dated proposition, hosting a resource of 1.85 billion tonnes at 29.5% iron on a granted mining lease.



The popular explorer has picked up more uranium-rich ground next to its flagship ‘Samphire’ project in South Australia.

The tenement, which contains historic uranium intersections, borders the southern end of Samphire “and is deemed prospective for extensions to the historic non JORC compliant ‘Plumbush’ uranium deposit”.

“Alligator’s initial focus is the advancement of the ‘Blackbush’ deposit, however the potential value to be added to the project through the improvement of resource confidence and extensions to the Plumbush deposit on our existing tenement and extending onto EL6350 is an excellent value opportunity,” Alligator chief exec Greg Hall says.

The Alligator share price is now up ~540% over the past six months.