Resources Top 5: Top gold, copper strikes and nearology take the win
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Here’s your top ASX small cap resources winners in morning trade Tuesday, December 22.
Junior explorer Yandal Resources (ASX:YRL) struck shallow, high grade gold — like 4m at 42.67g/t (within 8m at 27.76g/t) — at the Sims Find and Flinders Park prospects in WA.
The stock is up ~30 per cent in morning trade.
At Sims Find, visible gold was noted by the rig geologist and by the analytical laboratory during the assaying process, Yandal managing director Lorry Hughes says.
Nine holes have been assayed; results from the remaining 29 should be returned in the next quarter.
At Flinders Park, new results (like 4m at ~14g/t) could be “breakthrough” in defining the orientation of the potential gold deposit.
“In 2019 drill programs some good grades were intersected in oxide material drilling on an east-west grid, although continuity was poor,” Hughes says.
“In this program we returned to drilling on a northwest-southeast grid similar to the Flushing Meadows drill grid located ~5km to the northwest and generated consistent intercepts in holes YRLRC0473 and 474.
“I look forward to receiving the remainder of the pending results from all our Yandal Belt projects and then resuming aggressive AC and RC programs as early as possible in 2021.”
Kaolin clay is used to seal dams, and make ceramics, paint and paper coatings, and cosmetics.
Halloysite is ostensibly used in ceramics, nanotechnology, batteries and super capacitors, CO2 capture and storage, fuel conversion, hydrogen storage and transport, polymers and coatings and various medical applications.
Explorer Cyprium Metals (ASX:CYM) has hit thick, shallow copper at the Nanadie Well project. It looks like this:
This drilling program has consistently hit thick zones of mineralisation along strike and at shallow depths, says Cyprium exec director Barry Cahill.
“We have been very impressed from what we have seen in the diamond drill holes completed to date, which have exceeded our initial expectations,” he says.
“We look forward to receiving the assays results in the new year and kicking off the Phase 1 RC drilling of the supergene [shallower] mineralisation.”
In November, GME Resources (ASX:GME) surged on some shallow, high grade gold hits at the Fairfield deposit in the Goldfields region of WA.
Highlights from this drilling included 10m at 2.9 g/t from 13m (including 4m at 5.4 g/t).
Earlier his week, minnow Boadicea Resources (ASX:BOA) said early stage exploration at a greenfields project in the Fraser Range – near the Nova nickel mine — “provided sufficient encouragement with anomalous nickel, cobalt and copper … for further follow up exploration in 2021”.