Wildcat's shares have soared more than 400% since early May. Pic via Getty.
Resources Top 5: Wildcat pounces on more Pilgangoora land and gold juniors make today’s winners list
Mining
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- Wildcat expands footprint in Pilgangoora
- Siren Gold strikes deep mineralisation in NZ
- Errawarra continues riding its neighbours’ coat tails in the Pilbara
Here are the biggest small cap resources winners in early trade, Thursday June 22.
WILDCAT RESOURCES (ASX:WC8)
WC8 has bought out the remaining 33% interest at its Pilgangoora North lithium project in the Pilbara from Mining Equities for $200,000 worth of WC8 shares.
The tenements are just south of WC8’s Tabba Tabba lithium-tantalum project, which it has entered into an agreement to acquire in May, with the news putting a rocket underneath its share price that doesn’t seem to have abated.
Tabba Tabba is adjacent to tenements owned by FMG, which recently drilled out a lithium orebody and was briefly explored for tantalum by Pilbara Minerals in 2015.
WC8 is about to embark on a significant drilling program targeting LCT mineralisation at Tabba Tabba, so keep eye out for more news.
WC8 shares continued their meteoric rise from its penny stock days that ended after its 4 May price of 2.9c. The now $86m market-capped explorer is trading up more than 400%, and up 13% today in early trade at 13c.
ESTRELLA RESOURCES (ASX:ESR)
ESR is finally back at its Carr Boyd nickel-copper project in what it calls a “world-first” next-gen helicopter TargetEM electromagnetic survey being conducted by Expert Geophysics.
The survey will target all of Estrella’s tenure at Carr Boyd, encompassing all prospective horizons identified in 2022 exploration where the company said it had encountered “massive” nickel sulphides and has an exploration target for basal contact of between 35,000t and 105,000t of nickel metal.
“I am extremely pleased and excited to be able to inform shareholders that we will be advancing exploration efforts at our 100% owned Carr Boyd Ni/Cu/PGE project.
“We have always looked to improve our discovery advantage utilising ultra-modern exploration techniques and technology.
“We were the first to successfully use the revolutionary e-vibe seismic system in WA and our team is now employing a world-first in geophysical surveying methods.
“This is next-gen geophysical system technology that even the majors have not yet utilised.
“The geophysical survey will cover our entire tenement package at Carr Boyd, some 253km2, so that we can potentially locate drill targets that have previously evaded detection with older technology.”
With nickel hot right now, you’ve got to wonder if the long-dormant Carr Boyd or even the whole company is a potential takeover target, especially with today’s initial 71% giant leap in share price.
MANUKA RESOURCES (ASX:MKR)
(Up on no news)
MKR is continuing an impressive run on the ASX since announcing it had recommenced gold production from Mt Boppy in NSW’s Cobar Basin on June 16.
Its production plan underpins a ~3-4yr gold production scenario targeting up to 25,000ozpa through its Wonawinta mill.
The gold producer has had impressive results from its previous production campaign, where the operation outperformed forecasts by over 70% with respect to recovered ounces.
Executive Chair Dennis Karp was particularly upbeat about Manuka’s recommencement of gold production.
“The screening and processing of the various gold grading dumps and ROM pad located at Mt Boppy, together with the current very optimistic gold outlook, all contribute to providing consistent positive cashflows to Manuka for the next three to four years,” he said.
“At the same time, Manuka will also be working to materially grow its resource inventory in the Cobar Basin.”
Shares are up another 13.33% today in early trade for the $36m market-capped gold producer.
ERRAWARRA RESOURCES (ASX:ERW)
(Up on no news)
Shares in ERW have soared since a year-to-date share price low of 6.8c, likely because its neighbour Azure Minerals (ASX:AZS) has its own Andover project that could potentially host a world-class lithium resource.
Of course, ERW decided it would do its own digging for lithium at its Andover West tenement, announcing to the market on 15 June it was conducting ground recon and pegmatite sampling.
Just 11 days prior they provided an update to their search for nickel-copper mineralisation in the same project area, but that seems to have been put on the backburner.
They weren’t shy to explain their reasoning either.
“We are encouraged by the presence of further pegmatites on the Andover West project tenement with sampling of targets continuing,” ERW said.
“We are also pleased with the results achieved by our neighbour, Azure Minerals Ltd and their continued success in discovering and drilling for lithium, with the latest results being outstanding.
“We are very much excited by what the Pilbara region keeps delivering to the market and we look forward to continuing with our exploration activity.”
Shares in ERW have risen again today in early trade, soaring 34.5% to 19.5c per share.
SIREN GOLD (ASX:SNG)
New Zealand-focused gold hunter SNR has detected deep mineralisation 500m below the surface at its Sams Creek gold project as part of an ionic leach trial.
Sams Creek is an intrusion-related deposit (IRGD) has mineralisation within a porphyry dyke that’s over 7km long, up to 6m thick and extends down dip for at least 1km.
Its MRE contains 9.1Mt @ 2.82g/t Au for 824koz (1.5g/t cut-off), with only around 15% of the dyke drilled to date.
Historic drilling at the Main Zone had intersected 183m @ 2.46g/t Au from 31m (including eight mineralised sections >2g/t Au, with a weighted average of 101m @ 3.39g/t Au), and another hole that intersected 87m @ 4.2g/t Au across seven high grade intervals.
The company said the program will now be extdended across the whole deposit.
Earlier this month it told the market about its drilling activities at its Auld Creek gold project nearby, however it didn’t shake investors into action like today’s news has.
$12m market-capped SNG’s shares were up 12.35% in early trade today, swapping for 9.1c.
While a Manuka Resources is a Stockhead advertiser, they did not sponsor this article.
