Pic: Jackal Pan via Getty
Mining
Here are the biggest small cap resources winners in early trade, Friday June 18.
Experienced mining leader Jeff Elliott was appointed chairman to advance Wildcat’s ‘Mt Adrah’ (Lachlan Fold Belt, NSW) and ‘Bolt Cutter’ gold projects (Mallina Province, WA).
Mt Adrah includes a significant gold resource at Hobbs Pipe of 20.5 million tonnes @ 1.1g/t gold for 770,000oz.
There are also multiple gold prospects that haven’t been systematically explored since the 1980s.
“Wildcat’s projects in NSW and WA are underexplored and have great potential, in my opinion,” Elliot says.
“We will advance exploration at both projects and continue to review projects for potential acquisition.”
Drilling is due to kick off at Mt Adrah early next month.
Albion Resources listed at the end of April with the aim of identifying ‘Mississippi-style’ zinc deposits in the Kimberley region of WA.
The $5m market cap explorer has now confirmed outcropping visible zinc-lead mineralisation while walking round its ‘Lennard Shelf’ project.
The ‘Prices Hill’ target includes over 500m of exposed oxide mineralisation but is one of many which “remains inadequately drill tested by past explorers”, Albion says.
Before maiden drilling can commence, the company needs to negotiate heritage agreements and schedule an anthropological survey.
(Up on no news)
Yesterday, drilling kicked off at the ‘Gordonbrook Hill’ mineralised porphyry intrusion, part of the Mt Gilmore copper-cobalt-gold project in NSW.
The two-hole, 900m drill program will be the very first proper look into Gordonbrook Hill, which $8m market cap Corazon calls “a significant mineralised porphyry target, kilometres in scale”.
Drilling is also planned for the flagship ‘Lynn Lake’ nickel sulphide project in Canada “as soon as practicable”.
(Up on no news)
Last week, ~$25m market cap Iceni began maiden drilling the first of six high priority target areas at ‘14 Mile Well’, near Laverton in WA.
The stock, which only listed on the ASX in April, is currently up 10% on its IPO price of 20c per share.
(Up on no news)
Boab – formerly Pacifico Minerals — launched a 48-hole, 4200m drilling program at the advanced Sorby Hills lead-silver-zinc project back in May.
Initial results should start trickling in sometime soon.
“With our metallurgical and geotechnical drilling complete, a current mine plan underpinned 92% by Reserves and nearly A$14M in cash on hand, we are in a great position to aggressively focus drilling metres toward adding tonnes and grade to our Sorby Hills mining inventory and testing the blue-sky perspectivity of our Eight Mile Creek Project,” the company says.
“We look forward to providing updates as the Phase V drilling program progresses.”
Mining
Mining
Mining
Mining
Mining
Mining
Get the latest Stockhead news delivered free to your inbox.
