Resources Top 5: These ASX explorers are flying first class

Today biggest resources winners (so far) – led by Carnavale, Equus, Peako, Bulletin and Greenvale.

Carnavale Resources (ASX:CAV) has kicked off an eight hole, 1,500m drilling program at the Grey Dam nickel project, 70km from Kalgoorlie.

The program is targeting shallow (less than 400m) electromagnetic (EM) conductors prospective for nickel sulphides across four areas.

EM surveys map sub-surface changes in electrical conductivity and is a useful tool for finding nickel sulphides.

This small cap gold-base metals explorer has surged in recent times, up 450 per cent over the last six months.

Sampling has returned high-grades — including a peak value of 17.8g/t gold and 4,350g/t silver — ahead of drilling at Equus Mining’s (ASX:EQE) advanced Cerro Bayo project in Chile.

Equus is dialling in on the Pegaso II, Pegaso III, and Pegaso IV silver-gold targets ahead of a planned 25-hole, 5,500m diamond drilling program.

“The high-grade rock chip results returned from the Pegaso targets report to portions of vein structures that sit along strike from high-grade historical mines, and within close proximity to the Cerro Bayo flotation plant, but importantly remain underexplored by historical drilling,” Equus managing director John Braham says.

The stock is now up 200 per cent over the past six months.

Carnavale (ASX:CAV) and Equus (ASX:EQE) share price charts

Up on no news:

Early stage greenfields gold explorer Peako (ASX:PKO) has caught a rocket — up 109 per cent and 530 per cent over the past month and six months, respectively. The company has a number of large, ‘frontier-like’ gold targets in the crosshairs at its East Kimberly projects.

Bulletin Resources (ASX:BNR) – up +20 per cent in morning trade – is hunting for gold next door to Apollo Consolidated’s (ASX:AOP) 1-million-ounce Rebecca project. In late August it said that preparations were underway for “imminent drilling”.

Refreshed and refocused junior Greenvale Mining (ASX:GRV) was also up ~20 per cent. The company has sold its US gold assets and, backed by a new board, will focus on its newly acquired iron oxide copper-gold (IOCG) portfolio in the Northern Territory.