Resources Top 5: Investors tempted by hard-working explorers
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Here’s your top ASX small cap resources winners in morning trade Monday, October 19.
Dart Mining (ASX:DTM) has unveiled several intercepts like 13m at 4.82g/t, 12m from surface, in early stage drilling at the Buckland Valley project in Victoria.
That’s thick, shallow and decent grade – three things investors should be looking for when evaluating drilling results.
This 18-hole program at the Fairley’s prospect extended mineralisation to over 240m in length, and there’s every indication it keeps going in multiple directions.
“The Fairley’s Shear remains open along strike and at depth and Dart believes that great potential exists at the prospect for the discovery of a significant body of gold mineralisation,” the company says.
‘Open’ just means Dart doesn’t know where the gold ends yet.
Fairley’s is just one small part of the 17.5km-long mineralised structure at Buckland’s to be explored.
All up Dart controls nine historic gold fields in Victoria, where it has been scratching around on-and-off for well over a decade.
Success at the nearby, world-class Fosterville and Stawell mines — plus a booming gold price — has refocused investor attention on the region over the past few years.
Dart says the style of gold mineralisation evident at Fairley’s is comparable to the mineralisation at Fosterville, one of the most lucrative, highest grade operations in the world.
Minerals sands play MRG Metals (ASX:MRQ) has doubled the size of its tenure in Mozambique where historic hits over 75km of strike “provide significant exploration potential”.
The two new project areas — called Marao and Marruca – are considered fresh and highly prospective by the company.
“Apart from some very preliminary reconnaissance exploration, this terrain is largely unexplored,” MRG chairman Andrew Van Der Zwan says.
“We have a strong geological storyline, enhanced by our recent exploration success at Corridor, to underpin our exploration strategy going forward.”
Canada focused gold explorer Tempus Resources (ASX:TMR) completed drilling at the ‘Blackdome’ part of its Blackdome-Elizabeth gold project earlier this month, with results due in the next few weeks.
Drilling is now underway at Elizabeth, where Tempus is adding to the existing super high grade 144,000oz resource and hitting some juicy new targets.
Siren Gold (ASX:SNG) is enjoying a strong start to listed life.
The NZ-focused gold explorer is already up about 128 per cent on its IPO price of 25c per share.
Also up on no news was busy nickel-copper explorer Auroch Minerals (ASX:AOU). The stock is now at its highest point since December 2018.