Resources Top 5: These gold and base metals explorers are tackling giants
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Here’s your top ASX small cap resources winners in morning trade Wednesday, November 4.
Force Commodities (ASX:4CE) now owns a stake in a couple of high grade copper projects in the Middle Eastern country of Oman.
The former African lithium-silver explorer says the ‘Block 4’ and ‘Block 5’ projects are “proven to host clusters of relatively high grade VHMS copper deposits”.
Block 5 comes with a 28,000 tonne copper, 5900oz gold and 220,000oz silver resource across two deposits.
There’s opportunity to make this a lot bigger, the company says.
Previous drilling intersected a highlight 55.6 metres at 6.32 per cent copper, 63.2m from surface.
The stock – which has grappled with its fair share of dramas over the past year – was up +50 per cent in early trade.
High flyin’ explorer Tesoro Resources (ASX:TSO) has hit wide, high grade gold at the El Zorro project.
The highlight intercept was 27.50m at 3.57 g/t gold, inside a larger 111.5m section grading 1.25g/t.
“Every hole drilled El Zorro continues to deliver quality gold results further adding to the scale of the Ternera deposit which now been drilled over a strike length in excess of 750m, a width of up to 600m and is open at depth,” Tesoro managing director Zeff Reeves says.
“We are yet to find the edges of the mineralisation and every hole adds additional scale.
“This indicates to us that we have a significant discovery at El Zorro.”
The explorer recently identified a potentially large, 7km-long layered ‘intrusive’ complex which extends into the tenement recently pegged by Anson.
If proven to be there, this would increase the Ni-Cu-PGE prospective area to 19.8sqkm.
The Bull, which is mainly undercover and has never been drilled, has the potential to host a Julimar lookalike, Anson says.
Today MC got a small win — up 30 per cent to 13c per share in morning trade.
Toro Energy (ASX:TOE) recently kicked off a 1,500m drilling program at the Dusty nickel prospect in WA.
The program is designed to follow up a 2.6m of massive nickel sulphides grading 3.45 per cent nickel, 0.15 per cent cobalt and 0.18 per cent copper intersection announced in September.