Resources Top 5: List of discoveries in 2020 gets longer with Azure’s nickel-copper find
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Investors have been spoiled for choice when it comes to mineral discovery in 2020.
Predictive Discovery (ASX:PDI), Chesser Resources (ASX:CHZ), Manhattan Corp (ASX:MHC), Estrella Resources (ASX:ESR), Chalice Gold Mines (ASX:CHN), and a number of others have all tasted success — and the share price boost that comes with it.
The news sent the small cap exploration stock flying +50 per cent in morning trade.
Drill hole ANDD0001 intersected 40.7m significant nickel and copper sulphides from about 80.60m depth, including a significant 4m zone of massive nickel-copper mineralisation starting from 94.5m.
Early testing of the drill core indicates the presence of high-grade nickel and copper, the company says.
“Due to excellent ground conditions and high drilling productivity, the second drill hole is already underway to test the down-dip extension of the ANDD0001 mineralisation,” managing director Tony Rovira says.
“Drilling will continue through to the end of the year, with assay results for the first holes expected in late October to early November.”
Multi-bagger stock Estrella Resources (ASX:ESR) continues to run hot following that spectacular intersection at the Carr Boyd project near Kalgoorlie announced Friday.
“Our work has resulted in this thick intersection of primary magmatic nickel sulphides, and Carr Boyd can now join an elite list of recent Western Australian nickel discoveries including the Golden Swan, Julimar and Mawson discoveries,” chief exec Chis Daws says.
Last week former emerald play Magnum Mining & Exploration (ASX:MGU) bought the advanced Buena Vista iron ore project in Nevada.
Over $34m has been spent at Buena Vista over the past decade, says the company, which will aim to fast track updated project feasibility studies once due diligence is complete.
Germany-focussed Davenport Resources (ASX:DAV) holds Western Europe’s biggest potash resource.
The explorer is aiming to fund a big drilling program and complete advanced project development studies over the next couple of years.
Also up on no news was tightly held Northern Territory gold explorer Truscott Mining (ASX:TRM), which is searching for giants at the Tennant Creek mineral field.