• ‘Outstanding’ high-grade copper-gold results returned at Marquee’s Lonestar project
  • Larvotto set to kick off lithium and base-metal exploration
  • Uranium miners Deep Yellow and Vimy, along with South Harz Potash up on no news 

 

MARQUEE RESOURCES (ASX:MQR)

MQR has hit ‘outstanding’ high-grade copper up to 18.5% as well as gold up to 10.4 g/t gold at its ‘Lone Star’ project in Washington State, US, where results from the first two diamond holes as part of a 6,000m have been received.

Executive chairman Charles Thomas said: “Multiple, thick zones of mineralisation have been intersected with some exceptional grades being observed.

“The results have confirmed the outstanding opportunity that Lone Star represents and the presence of high-grade gold and silver further adds to the potential of this exciting project.

“We have completed 7 drill holes with the drill rig again spinning around the clock after a short Christmas break, so it’s an exciting way to start what looks to be an excellent year for the company.

“These results strengthen our position to deliver a quality JORC compliant resource in the first half of 2022.”

Marquee entered into an earn-in agreement to acquire up to 80% of Lone Star back in November 2021.

The $37m market cap stock is up 50% over the past month.

LARVOTTO RESOURCES (ASX:LRV)

Newly listed copper and gold explorer LRV is kicking off a lithium and base metals focused auger soil geochemical sampling program at the Eyre Project in WA as soon as Native Title clearance is received.

The company says historical exploration has identified broad anomalous zones that have never been followed up.

In an announcement to market this morning managing director Ron Heeks explained: “We have 600 square kilometres at Eyre that has numerous prospects requiring detailed exploration.

“Geology and geophysics tell us the host rocks for the Liontown (ASX:LTR) lithium resource extend into our ground and we have a robust lithium soil anomaly generated by Anglo Gold and confirmed by us, that is coincident with the extension of the Liontown host rocks into our project area.

“Around Mt Norcott and within the Jimberlana Dyke we have a copper soil anomaly generated by WMC with a single drill hole in the 1960’s and confirmed by Newmont in the 70’s that has never been followed up.”

He said the geochemistry program will lead to future geophysics and drilling to refine both of these anomalies.

Larvotto made its debut in early December 2021 following a $6 million IPO at $0.20 per share.

DEEP YELLOW (ASX:DYL)

(Up on no news)

Deep Yellow is leading a broad based gain in uranium stocks this morning after analysts predicted political unrest in Kazakhstan – where around 43% of the world’s uranium comes from — could send uranium prices soaring.

Also, this happened:

It means that most ASX uranium stocks were in the green in early trade:

 

At the end of December near term miner Deep Yellow announced new potential for basement uranium discoveries at its Omahola project in Namibia, Africa.

Follow-up drilling planned in early 2022 will target priority zones following review of geophysical and geological data to help define optimal drilling locations. The Tumas project remains the priority focus with the continued progression of the DFS, expected to be completed during the latter part of CY2022.

VIMY RESOURCES (ASX:VMY)

(Up on no news)

Another uranium explorer up today is VMY who recently achieved “substantial commencement” at its Mulga Rock Uranium Project in WA.

Vimy’s flagship Mulga Rock project is one of Australia’s largest undeveloped uranium resources.

The company is focused on advancing Mulga Rock through to the next stage of development ahead of a production target set for 2025, which is when uranium market commentators are forecasting the commencement of a prolonged supply deficit.

Executive director and CEO Steven Michael said: “Bringing Mulga Rock into production will materially mitigate global GHG emissions and enhance Western Australia’s ESG credentials. Uranium production from Mulga Rock will power eight nuclear power stations which is equivalent to 70% of Western Australia’s greenhouse gas emissions.”

SOUTH HARZ POTASH (ASX:SHP)

(Up on no news)

Potash exploration and development company South Harz Potash has climbed today on no news, however at the end of last year the company revealed it had raised A$5.3m to accelerate targeted mineral resource estimation works at its flagship Ohmgebirge development in Germany.

SHP said it was aiming to kick start drilling at the project sometime towards the end of December to allow for an upgrade of a substantial proportion of the current Ohmgebirge JORC (2012) inferred mineral resource estimate (325 Mt at 13.1% K2O)1 to the indicated category.

The company is aiming to release a comprehensive scoping study for Ohmgebirge by the end of Q1, 2022.

Managing director Chris Gilchrist said: “The entire South Harz team is excited to be on the verge of drilling the first hole under our ownership at Ohmgebirge.

“This is set against a background of a global potash market facing increasing supply constraints and geopolitical challenges, evidenced in the rapid and substantial increases in potash prices which the market expects to continue into 2022.”

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