• Estrella Resources flies after hitting ~13m of nickel-copper-iron sulphides at ‘Carr Boyd’ discovery
  • Metalicity now owns 51% of promising Kookynie and Yundamindra gold projects
  • Gold stocks Riedel, OzAurum surge ahead of fresh drilling results

Here are the biggest small cap resources winners in early trade, Thursday May 20.

 

ESTRELLA RESOURCES (ASX:ESR)

The explorer has drifted badly since a nickel sulphide discovery at the ‘Carr Boyd’ project in WA re-rated the share price in October last year.

Today’s drilling result — ~13m of nickel-copper-iron sulphides 40m south of the discovery hole – has Estrella moving in the right direction, once again.

The company is pushing ahead with “27/7” round-the-clock Phase 3 drilling to test the full extents of previous downhole electromagnetic (DHEM) targets and to generate new targets with careful step-out drilling.

“I am extremely pleased with this significant intersection as it further validates our exploration strategy at the T5 Conductor,” managing director Chris Daws says.

“Phase 3 drilling in particular has been highly successful, with a 100 percent strike rate for hitting nickel-copper sulphides.

“Make no mistake, our resolve to locate a world class orebody for our shareholders is unwavering and this intersection is yet another promising sign that we are homing in on this orebody.”

 

METALICITY (ASX:MCT)

Goldie Metalicity now owns a controlling 51% interest in the promising Kookynie and Yundamindra joint venture projects with Nex Metals (ASX:NME), well ahead of schedule.

“We had five years to complete this task, but we effectively completed the earn-in within two,” managing director Jason Livingstone says.

“We are strong believers that the Kookynie Gold Project has the best tenure of the region with an emerging and historically prolific goldfield.

“I would like to extend our gratitude towards Nex Metals for being a fantastic farm-in partner and look forward to progressing the Kookynie Gold Project expeditiously.

“We have a backlog of assays due and peripheral work to continue to highlight the potential of both of the gold projects.”

 

MINDAX (ASX:MDX)

(Up on no news)

The share price of this ‘flavour of the month’ iron ore junior has whipsawed around green territory since it was reinstated to the ASX last week.

It peaked at ~20c before giving back a big chunk of those outrageous gains.

Still, investors that participated in a 0.5c per share raise last June would probs be stoked with their current 1500% windfall.

 

RIEDEL RESOURCES (ASX:RIE)

(Up on no news)

This explorer surged on March 23 after hitting high grade gold and silver in the ‘Kingman’ project in Arizona.

The highlight was 1.5m at 230.8g/t gold and 359g/t silver from 20.6m. Anything above 5g/t gold is generally considered high grade.

“We anticipate further drill hole assay results being received in May 2021,” said Riedel chairman Michael Bohm in April.

“We now have numerous high-grade drill targets across the entire project area including at Tintic, Merrimac, Arizona-Magma and Jim’s.

“Our team will now collate and interpret the drilling results and formulate our next steps for follow-up during 2021.”

 

OZAURUM RESOURCES (ASX:OZM)

(Up on no news)

This newly listed Kalgoorlie gold explorer has certainly arrested the drift — continuing its recovery from lows of 12c to be within touching distance of its 25c IPO price.

The drill rigs are turning non-stop at OzAurum’s advanced gold project at ‘Mulgabbie North’, so far delivering high-grade gold hits like 4m at 6.3g/t from 48m to end of hole.

Thousands of metres of assay results are due out in the coming weeks, the company says.

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