Resources Top 5: The gold explorers leading the pack
Minnow Tanga Resources (ASX:TRL) surged after acquiring an 80 per cent interest in three gold projects in Côte d’Ivoire, West Africa.
Previous drilling at the Bouaflé project by major miner Newcrest (ASX:NCM) in 2011-13 hit high-grade gold, including 8m at 18g/t from 116m.
At the Mankono project, early stage aircore drilling has consistently intersected mineralisation over 10km of strike.
And the Issia/Bocanda projects were identified by Predictive Discovery (ASX:PDI), which is responsible for a recent company making discovery at the Bankan project in Guinea.
“We are extremely pleased to be able to acquire such a significant tenement package in Côte d’Ivoire, a country hosting over 30 per cent of West Africa’s Birimian greenstone belts but vastly underexplored compared to neighbouring countries,” Tanga exec director Chris van Wijk says.
“The tenement package is highly prospective, with previous work having identified multiple drill ready targets.”
Ora Gold (ASX:OAU) has intersected near-surface gold up to 794.2g/t at the Garden Gully project in WA.
Here’s what that looks like:
This drilling at the ‘Lydia’ prospect has outlined an oxide/supergene (usually near-surface) gold zone 80m wide and 120m long — but it has also hit “open-ended” deeper gold mineralisation.
“The program has improved the outlook for mine development in the oxide/supergene zone and at depth and followed up previous drilling by Ora in 2016-18, which confirmed strong gold mineralisation to over 200m depth,” the company says.
Deeper follow-up reverse circulation drilling is now planned.
Latin Resources (ASX:LRS) raised a handy $650,000 at a 4 per cent premium to the 10-day volume weighted average stock price (VWAP).
The placement to sophisticated and professional investors was oversubscribed by $102,000.
Cash will help fund exploration at the Yarara gold project in the Lachlan Fold Belt of NSW.
At Stockhead, we tell it like it is. While Ora Gold is a Stockhead advertiser, it did not sponsor this article.