Resources Top 5: Momentum keeps Aldoro in the fast lane

Aldoro continues to climb on the back of its niobium sampling results
Australian Rare Earths awarded a $5m federal government grant for its Koppamurra rare earths project
TMS, COY and EFE among the juniors moving up on no news

Your standout small cap resources stocks on Friday, December 6, 2024.

Aldoro Resources (ASX:ARN) and Eastern Resources (ASX:EFE)

(Up on no news)

Aldoro Resources’ December 4 announcement that pre-drill chip sampling at its Kameelburg project in Namibia had confirmed niobium mineralisation along the entire 262m sampling line continues to provide enough fuel to keep the company at the top of today’s chart.

Shares in the company have climbed 147.25% to 22.5c since the company noted exceptional surface results including 94m at 0.93% niobium and 30m at 1.2% niobium.

Niobium has become a hot commodity on the ASX after the Luni discovery was made in WA’s West Arunta region by boom explorer WA1 Resources (ASX:WA1) .

The mineral trades at US$57,000t, with 0.15% Nb2O5 equivalent to 1g/t of gold according to Aldoro.

It’s a strategic commodity in the US, Japan and EU that’s valued for its use in high-strength alloys, its superconducting properties and more recently in enhancing batteries.

Eastern Resources is working with experienced lithium consultancy Nagrom to progress metallurgical test work on samples taken from its Lepidolite Hill lithium project in WA.

Drilling carried out earlier this year had returned significant results such as 4m at 1.6% Li2O from 143m, 31m at 0.86% Li2O and 8m at 1.52% Li2O.

It is also progressing the Environmental Effects Assessment for its Nowa Nowa iron project in Victoria. This is an all-inclusive permitting approach including all planning and operating licence requirements for the development and operation of the project.

Australian Rare Earths (ASX:AR3)

Shares in Australian Rare Earths climbed today after it was awarded a $5m grant under the Australian federal government’s International Partnerships in Critical Minerals (IPCM) Program for its Koppamurra rare earths project in Queensland’s Kennedy province.

The grant validates the potential and importance of the project in building diverse, resilient and sustainable supply chains through strong and secure international partnerships.

It will support additional metallurgical testwork, completion of a pre-feasibility study, and construction and operation of a demonstration plant to advance the project and de-risk the development pathway.

The company continues to work closely with its shareholder and global advanced industrial materials manufacturer Neo Performance Materials, which has >30 years of international rare earth magnetics experience.

Neo continues to provide important technical support to the development of Koppamurra to further diversify the supply chain for its European midstream rare earth separation facility.

Koppamurra currently has a resource of 236Mt grading 748 parts per million (ppm) with significant upside present in the exploration target of 500Mt to 3.2Bt at a grade range of 520-780ppm TREO.

Valuable magnet REOs make up about a quarter of the TREO content with all four of the key REEs present.

Tennant Minerals (ASX:TMS) and Lode Resources (ASX:LDR)

(Up on no news)

Tennant Minerals is currently progressing drilling at the Bluebird copper-gold discovery within its Barkly project near Tennant Creek, Northern Territory, and on untested priority regional targets.

Bluebird has similar geology to previously mined major deposits at Tennant Creek such as Warrego (6.75Mt at 6.6g/t gold and 1.9% copper) and Peko (3.7Mt at 4% copper and 3.5g/t gold).

It is also progressing its strategic copper alliance with Emmerson Resources and CuFe.

Lode Resources recently completed the acquisition of the advanced Montezuma antimony project in Tasmania’s West Coast mining province.

Montezuma includes a high-grade antimony-silver-lead deposit with initial development, advanced metallurgical test work and significant beneficiation infrastructure.

The deposit is defined by surface sampling of the exposed mineralised structure over 50m strike length, development face sampling and 13 diamond drill holes which have intercepted high-grade mineralisation down to a depth of 80m.

Meanwhile, its pilot-scale beneficiation plant includes connection to grid power, cone crusher, ball mill, gravity tables, spirals, tankage, raw water and a recently constructed tailings dam.