Resources Top 5: These ASX gold stocks are on a tear
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Southern Hemisphere Mining (ASX:SUH) has announced a new gold discovery at the Colina2 project in Chile.
A recent shallow ‘trenching’ program returned multiple +1 gram per tonne (g/t) gold results, including a highlight 9.46g/t.
Trenching is a relatively cheap way to test for the ‘signature’ of a potential mineral deposit in areas ‘hidden’ by a layer of transported soil cover.
Southern Hemisphere will do extra surface trenching “to better define the potential strike of the gold mineralisation”, as well as drill test the newly discovered gold zone at depth.
Minnow Cannindah Resources (ASX:CAE) now owns the historic Piccadilly gold project in Queensland, where previous exploration has identified “a large intrusive related gold system target”.
The project’s geological setting has been described as being similar to the multi-million-ounce Kidston gold project in North Queensland, the company says.
Intrusive related gold mines such as Kidston, Mt Leyshon, and Mt Wright in North Queensland have cumulatively produced over 7 million ounces of gold.
“Now that the company owns 100 per cent of the Piccadilly project we are very excited given the current gold price to be planning the exploration of this potentially company-making target – a target that has many times been described by independent consultants as sharing similar geochemical zoning patterns to major North Queensland intrusive related gold systems such as Kidston, Mt Leyshon, and Mt Wright,” Cannindah says.
Also jumping on no news were popular potash play Trigg Mining (ASX:TMG), Pilbara gold explorer Carnaby Resources (ASX:CNB), and tin-focused Stellar Resources (ASX:SRZ), which has been “actively searching for new project opportunities”.