• Predictive Discovery, Challenger Exploration hit ‘bonanza grade’ gold at respective projects
  • Debutant Australian Rare Earths launches out of the gates in morning trade, up 65% on its IPO price of 30c per share
  • Explorer Emu gains on Julimar ‘nearology’

Here are the biggest small cap resources winners in early trade, Thursday July 1.

 

PREDICTIVE DISCOVERY (ASX:PDI)

44m grading 8g/t gold – that’s the “highest impact” intercept at ‘Bankan’ since the discovery re-rated Predictive mid last year.

“The intersection of 44m at 8.0g/t Au from around 240m vertical depth is an absolute standout, better than any intercept we have obtained so far in the deposit,” managing director Paul Roberts says.

“Deep drilling results on adjacent sections are also delivering very good widths and grades between 200m and 300m vertical depth.”

‘Infill’ diamond drilling is ongoing at Bankan Creek, with the last holes planned for completion mid-July, Roberts says.

“Following receipt and interpretation of the last results, the company will move onto the Maiden Resource estimation, in keeping with our September Quarter timetable.”

The $125m market cap stock is up 1800% since April last year.

 

CHALLENGER EXPLORATION (ASX:CEL)

More bonanza gold grades, this time from Challenger’s flagship ‘Hualilan’ project in Argentina.

Highlights include 15.6m at 71.7 g/t gold equivalent, or 70.9 g/t gold, 59.1 g/t silver and 0.2% zinc. This includes a 4m section grading over 200g/t.

Impressive.

“These are the best results we have seen at our Flagship Hualilan gold project – 4m at 201.6 g/t gold is outstanding,” managing director Kris Knauer says.

“The results confirm our view that the strongest mineralisation is likely to be in the Hualilan Hills which are yet to be drilled.”

 

EMU (ASX:EMU)

(Up on no news)

Yesterday, the Venture Minerals (ASX:VMS) – Chalice Mines (ASX:CHN) JV announced a ‘Julimar lookalike’ target at the South West Nickel-Copper-PGE Project in WA.

Emu’s ‘Sunfire’ project happens to be right next door:

Nearology for the win.

 

AUSTRALIAN RARE EARTHS (ASX:AR3)

The debutant launched out of the gates in morning trade, up 70% on its IPO price of 30c per share.

AR3’s ‘Koppamurra’ project in South Australia and Victoria “is Australia’s largest prospective ionic clay (IAC) hosted rare earth element deposit”, the company says.

IAC deposits – like the ones exploited in southern China — are commonly considered to be some of the cheapest and most readily accessible sources of heavy rare earths.

AR3 has hit the ground running, recently completing a 79-hole core-drilling program with the first set of assay results expected in Q3 2021.

 

TRUSCOTT MINING (ASX:TRM)

(Up on no news)

This quiet sub-$6m market cap explorer announced plans to drill soon in its March quarter report.

Which is big deal because it appears the stock hasn’t dusted off a rig since 2017.

 

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