RIU Sydney Resources Round-up Conference Companion - 2022

WALLY GRAHAM As you flick through this Resources Roadhouse RIU Sydney Resources Round-up issue what should become apparent is the trend of exploration/junior mining companies banging the drum to gather investors under the ‘battery metals’ or ‘carbon free economy’ tents dotted around the conference fairground.

Anybody who has been seriously watching the sector for the past ten years will know this is not a new phenomenon, as plenty of companies have listed during this time, with plenty of others waiting in the wings, to spruik the value held deep in the ground on their respective tenements, prospective for the commodities that will shrink our collective carbon footprint to a smaller shoe size and enable us to keep connected via new and improved electronic gadgetry.

There are still plenty of sceptics out there who believe we won’t all soon be kicking the tyres of an electric vehicle (EV) to take us from A to B, perhaps C, without paying Ned Kelly at the bowser, but it seems that day is nigh.

We cover 96 companies in this issue, many of which boast multi-commodity portfolios, but for brevity’s sake we consider the main foci of each as we mull over their aspirations.

The old family favourite of gold leads the charge with 46 representations, hardly surprising given its status as a form of currency, especially in times of regional conflict and global uncertainty.

“The Russian invasion of Ukraine is likely to support gold demand and prices in the very short term,” The Office of the Chief Economist said in its March 2022 Resources and Energy Quarterly Report.

“However, the gold price is forecast to slide from an average of US$1,770 an ounce in 2022 to US$1,380 an ounce in 2027 in real terms as real bond yields lift.”

Copper also hits double figures with 18 as does lithium and nickel both at 10.

“Copper prices increased 51 per cent to US$9,300 in 2021 as global industrial activity recovered from COVID-19,” the Chief Economist said.

“Prices are expected to ease slightly as mine production comes online over the outlook period, stabilising at around US$8,000 a tonne (in real terms) in 2027.

“Australia’s lithium production is projected to more than triple over the outlook period, rising from 224,000 tonnes of lithium carbonate equivalent (LCE) in 2020–21 to 692,000 tonnes of LCE in 2026–27.

“Nickel prices are expected to average US$24,875 in 2022, over declining stocks of battery grade material and the Russian invasion of Ukraine.

“Prices are expected to ease in the medium term, before facing upward pressure from significant demand from electric vehicle manufacturing.

“The forecast nickel price in 2027 is US$21,100 (in real terms) by 2027.”

The possible reason these three are well represented is the weight each carries in EV market discussions.

This is most likely down to good marketing, as there are plenty of other materials that go into making lithium-ion batteries and the EVs they power, it’s just at this stage, punters are still coming to grips with what all the electronica and green energy chatter has to offer.

Maybe Twiggy will be able to help us all by operating green energy education tours on his new green energy cattle ranches in the northwest.

With so many of the more mainstream commodities on show it would be easy to miss those, what we will call here, under-represented commodities, however, we do encourage you to take time to do your research.

There are two tin, zinc, and uranium plays, and one each of REE, alumina, manganese, tungsten, PGE, and silver.

“Australia’s mined zinc output is estimated to have risen 1 per cent year-on-year in 2021 to reach 1.33 million tonnes,” the Chief Economist said.

“However, this remained close to 0.7 per cent lower than total mine production in 2019.

“Uranium prices are forecast to lift from US$36.50 a pound in 2021 to US$47 a pound by 2027 (in real terms).

“A long period of low prices resulted in many uranium projects being deferred or cancelled, leading to potential uranium shortfalls during the outlook period.”

It seems the Chief Economist, like us, has space issues and failed to provide coverage for all the commodities listed above, but please, don’t be shy, make sure you visit the booths of as many companies as possible.

Front Cover Picture: Andover Nickel Discovery, Azure Minerals Ltd. Image courtesy of Tony McDonough & Azure Minerals Ltd

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Coda Minerals (ASX: COD)

Coda Minerals recently underscored its understanding of the company’s Elizabeth Creek copper project in the Olympic Copper Province in South Australia.

Coda is the operator and majority owner of the Elizabeth Creek project, holding a 70 per cent interest alongside Torrens Mining, which holds a 30 per cent interest.

Coda and Torrens have struck a Bid Implementation Deed for the companies to merge via a recommended takeover offer, consolidating 100 per cent ownership of the Elizabeth Creek project.

Recent diamond drilling continued to demonstrate the substantial metal endowment of the broader Emmie System, which comprises both the shallower Emmie Bluff copper-cobalt deposit and the adjacent Emmie IOCG (copper-gold) at depth.

Two recent drill-holes combined with comprehensive re-logging of drill core by an IOCG expert, changing the company’s ideas about what the project may hold.

The first hole, EBD7, seemed to cut off a bornite zone on the far western edge of the anomaly while the second returned a copper-rich bornite dominated intercept from a location the company was not expecting to find one.

Combining results with detailed re-logging of previous holes, Coda interpreted outcomes to suggest multiple copper-bearing conduits could exists within the Emmie IOCG mineralised system.

“Simply put, we thought we were chasing a single area of mineralisation, but we now believe that there may be multiple zones of bornite,” Coda Minerals CEO Chris Stevens said.

“What we don’t yet know is how many there are, and whether or not some are much thicker than what we have found to date.”

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The bornite encountered by the second of the holes mentioned provides new targets along with already established information leading the company’s suspicions Emmie IOCG displays hallmarks of an accumulation of copper and other valuable metals at least comparable in scale to the Emmie Bluff copper-cobalt deposit above it, and potentially much larger.

“Having both types of potentially economic copper mineralisation within the same overall mineralised system is unique, probably in the world,” Stevens said.

“With approximately 800,000 tonnes of contained copper equivalent already defined in Indicated Resources at Emmie Bluff, the IOCG beneath has also begun to demonstrate significant scale.”

EMAIL info@codaminerals.com WEB www.codaminerals.com DIRECTORS Keith Jones, Chris Stevens, Colin Moorhead, Robin Marshall, Paul Hallam

XXXXX New Century Resources (ASX: NCZ) xxx)

New Century Resources has taken recycling and sustainability to new levels.

In its own words the company is, “a leading mining, tailings management and economic rehabilitation company focused on sustainably producing metal from resource assets while rehabilitating legacy impacts to the environment”.

New Century Resources achieved status as a top-15 global zinc producer via unconventional means.

The company operates Australia’s largest hydraulic mine at the Century Mine in Queensland, an operation that entails extracting, processing, and marketing zinc recovered from historical tailings.

Its success at doing so resulted in the ASX recently reclassifying the company from a ‘mining exploration entity’ to that of a ‘mining producing entity’ as defined under due to consistent revenue and cashflow from production over a period of more than 12 months.

The Century mine is located north-west of Mount Isa and began open-pit production in 1999.

During its initial 16 years of operation, Century was one of the largest zinc mines in the world, producing and processing an average of 475,000 tonnes per annum zinc in concentrate and 50,000tpa lead in concentrates.

Following the depletion of the original ore reserve, the mine was put on care and maintenance in 2016.

Enter, New Century Resources, which acquired the operation in 2017 from MMG, with the idea of re-starting operations through the reprocessing of tailings through the extensive infrastructure in place.

The operation is simple; tailings ore is hydraulically mined then pumped to the existing processing plant to remove remnant zinc prior to pumping back into the original open pit for final storage.

This economic rehabilitation strategy reduces the environmental footprint of site whilst providing a foundation for life extension through the future processing of substantial mineral deposits on site.

While production ticks over at the Century mine, New Century Resources is exploring the potential restart of copper production at the historical Mt Lyell mine in Tasmania using 100 per cent renewable energy.

New Century is also pursuing opportunities with industry peers to reprocess and rehabilitate contemporary and historical mineralised waste assets at operational and legacy mine sites where it hopes to instigate its expertise in economic rehabilitation.

EMAIL info@newcenturyresources.com WEB www.newcenturyresources.com DIRECTORS Robert McDonald, Patrick Walta, Nick Cernotta, Peter Watson, Kerry Gleeson

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Breaker Resources (ASX: BRB)

Breaker Resources is focused on its expanding Lake Roe gold project in a greenfields district, 100 kilometres east of Western Australia’s gold mining hub of Kalgoorlie.

It’s cashed up after selling 80 per cent of the project’s lithium rights in December and is also preparing to drill its earlier-stage, non-core Ularring project, 50km east of the Julimar discovery, which hosts evidence of a large gold-copper system and drill-ready nickel-PGE targets.

At Lake Roe, Breaker announced a 23 per cent increase to the project’s gold resource late last year to 1.7 million ounces.

This followed a 40 per cent boost to the resource in April 2021.

The latest update increased underground Resources at the Bombora deposit by 59 per cent to 659,000 ounces.

Bombora now has a combined open pit and underground resource of 25.9 million tonnes at 1.8 grams per tonne for 1.5 million ounces.

Breaker Resources is convinced the updated Resource provides a solid foundation for a long-term mining project with attractive margins, particularly at current gold prices.

The company believes there is high-grade growth potential immediately below the open pit Resource, which remains wide open where there appears to be several areas opening up with the grade and continuity that is attractive for underground mining.

Breaker Resources expects to start the transition from discovery into mine development studies throughout 2022.

In accordance with these aspirations, the company has signalled ramping up its drilling timetable to firm up the best areas for development, while expanding the Resource in other areas at the same time.

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Breaker’s decision to divest 80 per cent of the Manna lithium rights at Lake Roe to ASX-listed Global Lithium Resources late last year, in a deal worth up to $33 million, to maintain its core focus on gold has turned out to be an astute move.

Global Lithium Resources recently announced a maiden Inferred JORC Mineral Resource estimate for the Manna lithium project of 9.9 million tonnes at 1.14 per cent lithium oxide and 49ppm tantalum pentoxide.

Manna was discovered by Breaker Resources by way of initial drilling of the deposit in 2018.

EMAIL breaker@breakerresources.com.au WEB www.breakerresources.com.au DIRECTORS Peter Cook, Tom Sanders, Mark Edwards, Mike Kitney, Linton Putland, Eric Vincent

XXXXX Musgrave Minerals (ASX: MGV) xxx)

Musgrave Minerals has been making the most of Evolution Mining electing to act as earn-in manager over the pair’s Cue Joint Venture from the start of 2022.

Musgrave is now free to focus on its 100 per cent owned tenure at the Cue gold project in Western Australia, from which it reported high-grade gold RC drilling assay results at the Mosaic Lode that was discovered in December 2021.

The newly discovered Mosaic Lode returned high-grade gold results, including: » 21MORC414 9 metres at 110.5 grams per tonne gold from 42m, including 3m at 307.3g/t gold from 45m; and » 21MODD041 2.8m at 122.2g/t gold from 72m, including 0.8m at 381g/t gold from 74m.

The drill rigs were busy at Mosaic, following up on strong assay results achieved from resource infill drilling at the Big Sky prospect.

“Results from the new Mosaic Lode at White Heat continue to highlight the upside potential of the project,” Musgrave Minerals managing director Rob Waugh said.

“The near-surface high grades intersected at Cue are some of the best, recent near-surface exploration hits in the Yilgarn.

“We are continuing to grow our understanding of the system and the controls on mineralisation and have confidence in our ability to grow the Mineral Resource base.

“Our Cue gold project continues to deliver with more exceptional near-surface gold results in both RC and diamond drilling.”

Musgrave Minerals had previously reported gold assay results from

RC and diamond drilling on, what was then, the new Mosaic target located just south of the earlier White Heat prospect discovery.

The current resource estimate for the Cue gold project totals 6.4 million tonnes at 3.2 grams per tonne gold for 659,000 ounces, including the Break of Day deposit (797kt at 10.2g/t gold for 262koz contained gold) and the Lena deposit (4.3Mt at 2.3g/t gold for 325koz contained gold) located 130m to the west of Break of Day. The new gold discoveries at White Heat-Mosaic and Big Sky are both outside the existing resource areas.

The company’s focus is to build the current resource base to deliver a Mineral Resource Estimate update in late Q2 2022.

EMAIL info@musgraveminerals.com.au WEB www.musgraveminerals.com.au DIRECTORS Graham Ascough, Robert Waugh, Kelly Ross, John Percival, Brett Lambert

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Azure Minerals (ASX: AZS)

One would have had to have been hiding under a weighty rock over the past year or so to not hear about the advancement of Azure Minerals’ Andover nickel-copper-cobalt project (60% Azure / 40% Creasy Group) in the West Pilbara region of Western Australia.

Azure Minerals recently delivered the maiden Mineral Resource Estimate (MRE) for the Andover deposit, the first prospect drilled in the Andover project.

The Andover deposit is estimated to contain 4.6 million tonnes at 1.11 per cent nickel, 0.47 per cent copper and 0.05 per cent cobalt for 51,700 tonnes of contained nickel, 21,700 tonnes of contained copper and 2,290 tonnes of contained cobalt at a cut-off grade of 0.5 per cent nickel (JORC 2012).

This includes a high-grade resource component of 2 million tonnes at 1.41 per cent nickel, 0.49 per cent copper and 0.06 per cent cobalt at a cut-off grade of 0.9 per cent nickel.

Azure described the estimate as being, “a robust resource with over 80 per cent of the Mineral Resource Estimate tonnes classified in the Indicated category”.

“I’m very pleased to present this maiden Mineral Resource for the Andover deposit, thereby achieving a key milestone in advancing the overall Andover project,” Azure Minerals managing director Tony Rovira said.

“This highlights the extraordinary potential that we have always recognised within the project and is just the beginning of a very exciting journey.

“The exploration team have excelled to have delivered the first resource only 18 months after starting exploration, while also discovering and now drilling significant nickel and copper sulphide mineralisation at several other prospects within the project area.”

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Azure anticipates additional mineral resources will be defined at proximal prospects, including: Ridgeway that has returned intersections of 6.3m at 3.59 per cent nickel, 4.9m at 3.5 per cent nickel, and 4.5m at 3.95 per cent nickel; Seaview that has returned an intersection of 7m at 1.35 per cent Ni; and Skyline, from which results are pending.

“With these plus other excellent targets like Atrium and Woodbrook that have yet to be drilled, I’m confident this is only the start of mineral resource definition at the Andover project,” Rovira said.

EMAIL admin@azureminerals.com.au WEB www.azureminerals.com.au DIRECTORS Brian Thomas, Tony Rovira, Annie Guo, Hansjörg Plaggemars

XXXXX Metals Saturn (ASX: STN) xxx)

Saturn Metals recently achieved excellent results from metallurgical test work on samples of mineralised material collected from the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian Goldfields.

“The metallurgy of Apollo Hill is a great differentiator as it gives the opportunity for the company to consider shifting the scale of the deposit’s development,” Saturn Metals managing director Ian Bamborough said.

The results highlighted Apollo Hill’s amenability to simple low-cost mineral processing methods, including heap leach, which can in turn drive lower stripping ratios and efficient mining processes.

An Apollo Hill composite sample derived from high quality diamond core, gave an excellent overall recovery of 81 per cent from intermittent bottle roll tests, preceded with gravity separation, using high pressure grinding roll (HPGR) crushing to 8mm P100 (targeted commercial fresh rock crush size).

These results complement, confirm, and potentially improve on column leach test work previously published by the company where recovery was 73 per cent at 8mm crush on an Apollo Hill typical drill core composite.

A strong average recovery of 77 per cent was obtained for Apollo Hill’s major material types, across the deposit’s lower grade range, using conventional stage crushing and High Pressure Grinding Rolls (HPGR) sample subsets.

This augurs well when considering the reported global average grade of heap leach operations is 0.7g/t and on average 65 per cent of gold is recovered.

Saturn believes the results support its view that Apollo Hill has the potential to join this group.

It also indicates gold recovery may be viable from material which would normally be considered marginal and highlights potential for the use of lower cut off grades to improve economics.

“These excellent results from a comprehensive Apollo Hill sample set, provide a decisive weight of evidence for the application of simple cost-effective mineral processing scenarios at lower cut off grades,” Bamborough said.

“We plan to utilise these new results and the results of our more mill-based metallurgy program as reported in October 2021, to examine the potential for economies of scale in our current resource upgrade process and subsequent studies.”

EMAIL info@saturnmetals.com.au WEB www.saturnmetals.com.au DIRECTORS Ian Bamborough, Brett Lambert, Andrew Venn, Rob Tyson, Adrian Goldstone

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Revolver Resources (ASX: RRR)

Revolver Resources is a copper exploration company that listed on the ASX in September last year with a self-proclaimed focus on development of natural resources to meet the world’s accelerating electrification needs.

The company has advanced copper projects in Queensland: Project Osprey lies within Queensland’s world class North-West Minerals Province, where exploration has confirmed the characteristics of both Iron Oxide Copper Gold (IOCG) and Mt Isa style copper mineralisation systems; and The Dianne project, which was once one of the highest-grade operating copper mines in the world and has left a remaining orebody ripe for redevelopment, located in North Queensland’s polymetallic Hodgkinson Province.

The Dianne Copper Mine produced 63,758 tonnes of high-grade copper ore with an average grade of 22.7 per cent from open cut and underground operations between 1979 and 1983 before mining operations ceased.

Work carried out by Revolver at Dianne to date has the company already labelling it an emerging potentially high-grade multi-mineral new discovery.

Assays released earlier this year indicate much higher grades and higher volumes of copper, zinc, cobalt and gold than what the company had previously thought existed within the project.

The company now views the Dianne project as one of enormous untapped potential pointing to the highly encouraging and exciting results it has achieved to reveal a far more extensive mineralised and multiple commodity system than has been previously understood.

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“These results offer the potential of expanding the known mineralisation significantly,” Revolver Resources managing director Pat Williams said.

“Put into context, the assay results we have from these samples — which were obtained only from surface — highlight ore grades greater than the average grade of some mines operating today.

“The pathway to material, low-cost, near-term production has been greatly enhanced with this new information.

“Our systematic exploration program on the Dianne project is unveiling a considerable mineralised system and its inherent characteristics, and this is rapidly evolving how we adapt to efficiently continue to explore and grow the size of the ultimate resource.

“Our exploration methodology is being validated and we are opening up multiple parallel work fronts to bring forward further critical information about the full potential of the Dianne project.”

EMAIL hello@revolverresources.com.au WEB www.revolverresources.com.au DIRECTORS Pat Williams, Paul McKenna, Brian MacDonald

XXXXXRock Minerals White (ASX: WRM) xxx)

White Rock Minerals describes itself as being a near-stage gold producer and poly-metallic and precious metals explorer.

The company’s aspirations are spread across a portfolio of three projects: the Woods Point gold project in Victoria, the Red Mountain silver-zinc VMS and Last Chance IRGS gold projects in Alaska USA, and the advanced gold and silver Mt Carrington project in News South Wales.

White Rock recently updated the Inferred Mineral Resource estimate for the Red Mountain project thanks to a doubling of the Dry Creek deposit high-grade Inferred Mineral Resource to 4.9 million tonnes at 8.4 per cent zinc equivalent or 393 grams per tonne silver equivalent (at a 3% Zn cut-off).

Dry Creek joins the West Tundra Flats as the most significant deposits within the Red Mountain project combining for a high-grade Inferred Resource of 11.6 million tonnes at 12 per cent zinc equivalent or 555g/t silver equivalent (at a 3% Zn cut-off).

The global Inferred Mineral Resource for Red Mountain now stands at 21.3 million tonnes at 8.5 per cent zinc equivalent for 1.8 million tonnes of contained zinc equivalent or 393g/t silver equivalent for 207 million ounces of contained silver equivalent.

Much of White Rock’s attention of late, however, has been focused on advancing its Woods Point gold project north-east of Melbourne in Victoria, which the company acquired in 2021.

Woods Point contains 660 square kilometres of highly prospective exploration ground that has seen historical production of more than 1,600,000 ounces of gold.

Along with the land holding, Woods Point also contains the Morning Star gold mine, which came complete with mining licenses,

operational shaft and winder, underground workings, and a gold processing plant.

Over its lifetime, the Morning Star mine produced over 883,000 ounces of gold at an average grade of 26.5g/t.

The most recent news from Morning Star came from an underground drilling foray that produced further assay results from the Kenny’s target area.

The Kenny’s target area includes multiple high-grade gold structures including the Whitelaw Reef, the Upper and Lower Burns Reefs, and the Upper and Lower Campbell Reefs.

EMAIL info@whiterockminerals.com.au WEB www.whiterockminerals.com.au DIRECTORS Peter Lester, Matt Gill, Jeremy Gray, Lord Christopher Wellesley, Paul McNally

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Alto Metals (ASX: AME)

Alto Metals recently reported a mineral resource update for the company’s 100 per cent-owned Sandstone gold project in Western Australia.

The mineral resource estimate for the Sandstone gold project now totals 12.4 million tonnes at 1.6 grams per tonne gold for 635,000 ounces of contained gold.

The updated mineral resource incorporates updates for the project’s Lord Nelson, Lord Henry, Havilah and Vanguard Camps and was prepared by independent mining industry consultants, Snowden Optiro and reported in accordance with the 2012 JORC Code.

The Resource update represents an increase of 92 per cent in contained gold and is constrained within $2,500 per ounce optimised pit-shells at a 0.5g/t gold cut-off and over 90 per cent of total ounces within 160m from surface.

Shallow, high-grade resources remain open along strike and at depth at all deposits, highlighting potential to continue to grow the resource inventory with further drilling.

Rapid growth at Vanguard Camp resulted in tripling of the resource to 2.3 million tonnes at 2g/t gold for 150,000oz and mineralisation remaining open along a +2km long NW/SE trending corridor.

Substantial resource growth at Lord Nelson, which increased 138 per cent to 5.3 million tonnes at 1.6g/t gold for 267,000oz with mineralisation remaining open.

The MRE excludes an update for Indomitable Camp, however recent high-grade gold results outside the current resource and assays from planned drilling are expected to be included in an update in the second half of the year.

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“We view this very much as an interim resource upgrade, with significant scope to delineate additional shallow, high-grade gold ounces with the current and planned drilling at the Lords Corridor, Vanguard and Indomitable,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“The company remains focused on adding further ounces with extensional drilling and plans to mobilise additional rigs to fast-track this resource growth and also test a number of our high-priority regional targets.

“Alto completed over 60,000 metres of drilling in 2021 and the scale of growth…gives us the confidence that we can continue to materially grow the resources beyond what is currently defined at Sandstone.”

EMAIL admin@altometals.com.au WEB www.altometals.com.au DIRECTORS Richard Monti, Matthew Bowles, Terry Wheeler, Dr Jingbin Wang

XXXXX Resources Austral (ASX: AR1) xxx)

Austral Resources, although only recently listed in November 2021, boasts a strong portfolio of copper projects, including Anthill, Lady Annie, Cameron River, and Miranda, all at various stages of development.

Of these, the Anthill project is the most advanced, containing a JORC 2012 compliant Mineral Resource estimate of 13.8 million tonnes at 0.7 per cent copper.

The Anthill project area lies 45 kilometres from the Mt Kelly processing facility within the Lady Annie project, the tenements of which sit in the Western Fold Belt of the Mount Isa Inlier.

Austral Resources had a mining study completed by CSA Global in April 2021 resulting in a JORC 2012 compliant Ore Reserve of 5.1 million tonnes at 0.94 per cent copper containing 47,700 tonnes of copper.

The company is mining the ore from two pits with total recovered copper from the heap leach process anticipated to produce 40,400 tonnes over a 44 month period.

The company recently announced first ore haulage from the new Anthill mine to the Mt Kelly processing plant with the intention to begin Anthill ore processing by the end of April 2022.

“The first Anthill ore delivery to our processing facility represents a significant milestone achievement for the company,” Austral Resources chief executive officer Steve Tambanis said.

“Ore stacking onto the heap leach pad is expected to begin in late April and first plates of Anthill copper cathode will be produced in May 2022.

“From July onwards, copper cathode production is expected to exceed 1,000 tonnes per month.

“Rapidly increasing production and higher than forecast copper prices will combine to see healthy sales revenue from May. Over 4 million tonnes of overburden has been moved since 6 January this year.

“When full scale haulage commences with 125 tonne road trains, each train contains sufficient copper to produce one tonne of recovered copper cathode or more thanUS$10,000 per train at current copper prices.

“The crushing circuit successfully processed its first rock as part of the refurbishment and commissioning process.”

With plant refurbishment finishing and full scale ore production on the horizon, Austral is on track to hit planned copper production of 10,000 tonnes per annum from mid-2022.

EMAIL admin@australres.com WEB www.australres.com DIRECTORS Phillip Thomas, Dan Jauncey, Jeffrey Innes, Michael Hansel

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Centaurus Metals (ASX: CTM)

Centaurus Metals received a boost for the company’s 100 per centowned Jaguar nickel sulphide project in northern Brazil in the shape of selection as a Strategic Minerals Project by the Brazilian Federal Government.

The Strategic Minerals Policy is part of the Investment Partnership Program — PPI (Programa de Parcerias de Investimento), a new Brazil governmental initiative designed to support companies while developing their projects across the country.

The PPI program supports projects deemed as strategic mineral projects for Brazil.

According to the Ministry of Mines and Energy, the Policy acknowledges a strategic priority dimension to the projects carefully selected by the Inter-ministerial Committee of Analysis of Strategic Minerals Projects — CTAPME, providing the titleholder with specialised governmental support for the development of their projects.

“The selection of the Jaguar Nickel Project as a strategic mineral project is further demonstration of the project’s global significance and its strategic importance to Brazil.” Centaurus Metals managing director Darren Gordon said.

“We applaud the Brazil government for introducing such a strong initiative for mineral projects considered to be of strategic importance to the country.”

Centaurus Metals soon followed up the announcement by reporting new results from ongoing resource growth and development drilling at Jaguar, the results from which are expected to underpin further resource growth ahead of the completion of a Definitive Feasibility Study (DFS) and maiden Ore Reserve estimate due for completion by the end of calendar 2022.

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Centaurus acquired the Jaguar project in the western portion of the Carajás Mineral Province of Brazil from Vale in April 2020, since which time the company has defined a Mineral Resource Estimate totalling 80.6 million tonnes at 0.91 per cent nickel for 730,700 tonnes of contained nickel.

The MRE is expected to underpin mine optimisation and production profile studies to be undertaken throughout 2022 that will determine the optimal mine capacity for the development of the project.

Any expansion of the processing plant capacity and/or production profile is likely to have a material positive impact on the project economics and delivery of nickel-in-sulphate, which currently stands at 20 million tonnes per annum for 13 years.

EMAIL office@centaurus.com.au WEB www.centaurus.com.au DIRECTORS Didier Murcia, Darren Gordon, Bruno Scarpelli, Mark Hancock, Chris Banasik

XXXXX Energy Lithium (ASX: LEL) xxx)

Lithium Energy is a dual-focused company with one eye looking overseas to develop its Solaroz lithium brine project in Argentina and the other fixed on its Burke graphite project in Queensland.

On its web page, Lithium Energy provides answers to two questions: Why lithium? and Why graphite?

The long-term prospects for lithium are very strong, Lithium Energy says, with demand being driven primarily by the expected growth for lithium batteries to be used in electric vehicles and other personal technological gadgetry.

It justifies developing its Solaroz project in Argentian by acknowledging lithium brine projects in that part of the world are, “recognised as being particularly attractive since they are amongst the lowest on the lithium carbonate cost curve, compared to hard rock lithium projects”.

Lithium Energy recently received Environmental Impact Assessment (EIA) approval from the local Jujuy Provincial Government Mining Authority to commence exploration works at Solaroz.

“This is a positive endorsement by the Argentinian Government Authorities of the Solaroz lithium project and I look forward to mobilising to site and commencing work shortly on this highly prospective project,” Lithium Energy executive chairman William Johnson said.

“There is no better address to be exploring for lithium than the prolific Lithium Triangle where a number of world class lithium brine projects have been discovered.”

Solaroz is in the highly prospective Lithium Triangle of Argentina, directly adjacent to or principally surrounded by lithium majors

Allkem Limited (formerly Orocobre) and Lithium Americas Corporation.

As far as graphite goes, it is currently enjoying its status as the dominant anode material used in lithium-ion batteries with more than ten times graphite by weight used in a lithium-ion battery than lithium.

The Burke graphite project contains one of the highest-grade graphite deposits globally and presents Lithium Energy with an opportunity to participate in the anticipated growth in demand for graphite and graphite related products.

The Burke graphite deposit has a JORC Inferred Mineral Resource of 6.3 million tonnes at 16 per cent total graphitic carbon (TGC) for 1 million tonnes of contained graphite, including a high-grade component of 2.3 million tonnes at 20.6 per cent TGC.

EMAIL info@lithiumenergy.com.au WEB www.lithiumenergy.com.au DIRECTORS William Johnson, Farooq Khan, Peter Smith, Victor Poh Hong Ho

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Barton Gold Holdings (ASX: BGD)

Barton Gold Holdings is aiming to breathe new life into the South Australian gold sector with development of its Tarcoola and Tunkilla gold projects.

The Tarcoola Project is located on the site of the brownfields open pit Perseverance Mine, which was operated during 2017 and 2018.

The Tarcoola Goldfield is an area familiar with gold production having been, during the early 1900s, South Australia’s major hard rock gold producer yielding some 77,000 ounces of gold.

Recent image processing and 3D modelling of detailed gravity survey data carried out by Barton in three key regional target areas of the project during September 2021 confirmed multiple prospective structural targets.

The recent gravity surveys identified a new, previously unrecognised large-scale anomaly called the Ealbara prospect, which was identified in the northern part of the Tarcoola project area on the Lake Labyrinth Shear Zone (LLSZ) and will be a priority target in Barton’s upcoming regional Tarcoola drilling program.

“Barton is rapidly building a new geological model for Tarcoola by combining traditional and innovative technologies,” Barton Gold Holdings managing director Alexander Scanlon said: “These exciting results cross-validate our prior interpretations of multiple historical and new data sets, reinforcing the significant geological prospectivity for multiple regional discoveries at Tarcoola.

“Significant growth of Tarcoola’s mineralised footprint will be a high priority for Barton during 2022.”

The Tunkillia project is only 70 kilometres from Tarcoola and hosts a JORC Code 2012 compliant Mineral Resource Estimate at

16

its cornerstone 223 deposit of 26.1 million tonnes at 1.15 grams per tonne gold for 965,000 ounces of gold.

Barton considers Tunkillia to hold much potential for large-scale extensions and discovery of new mineralisation.

The 223 deposit has put its hand up for this, already sitting at approx. 2.5km long and open to depth and along strike, with the host structure extending around 7km north and 7km south.

Both projects are within throwing distance of the company’s Central Gawler Mill, Barton’s main infrastructure hub with mill and processing plant capable of 650,000 tonnes mill feed annually, a 240 person mine village complete with recreation facilities and supporting infrastructure, labs, workshops, and private airstrip..

EMAIL contact@bartongold.com.au WEB www.bartongold.com.au DIRECTORS Mark Connelly, Alexander Scanlon, Richard Crookes, Christian Paech, Neil Rose, Graham Arvidson

Aeris Resources

Gascoyne Resources

Aeris Resources is the 100 per cent owner and operator of the Tritton copper operations, located near the towns of Nyngan and Cobar in New South Wales.

Aeris’ Tritton copper operations mining complex includes two underground mines, and the 1.8 million tonnes per annum Tritton processing plant.

The Tritton tenement package comprises seven exploration and four mining licenses, one of which, the Avoca Tank underground mine is currently undergoing construction based on a current Mineral Resource of 900,000 tonnes at 2.6 per cent copper for 24,000 tonnes copper.

The total Tritton Resources, in June 2021, stood at 6.8 million tonnes at 1.2 per cent copper for 82,000 tonnes copper.

Aeris recently informed the market that exploration drilling had commenced at Avoca Tank, targeting extensions to copper mineralisation below the Mineral Resource footprint.

The drilling has already intersected copper mineralisation 75m down-plunge from the current Mineral Resource with drill hole TATD046 encountering multiple sulphide lenses, including 2.2m thick massive to semi-massive sulphides (from 514.5m) — assays were pending at the time of writing.

“We are currently constructing the Avoca Tank underground mine, with production due to commence in Q4 of FY23,” Aeris Resources executive chairman Andre Labuschagne said.

“Avoca Tank is a high-grade (+2%) copper deposit and this drill program is designed to test for potential down-plunge extensions.

“Intersecting massive sulphides 75 metres below the current Avoca Tank Mineral Resource is a fantastic outcome.

“A down-hole EM survey was also completed and has detected a large bedrock conductor, most of which remains un-tested.

“We believe there is significant scope to increase the Avoca Tank Mineral Resource with further drilling, which will commence in FY23 after underground access development has been completed.”

Gascoyne Resources is making good progress with the near-mine exploration strategy being implemented at the company’s 100 per centowned Dalgaranga gold project in Western Australia.

Gascoyne Resources reported new results from across multiple existing and emerging prospects, including assay results from the recently discovered zone of gold mineralisation located immediately north of the Gilbey’s open pit, the main ore source, along with further high-grade results outside the current Mineral Resource envelope at the active Plymouth Open Pit and encouraging first-pass results from the Lindville prospect, eight kilometres north of the Dalgaranga plant.

Close-spaced follow-up drilling at Gilbey’s North, immediately north of the main operating pit at Dalgaranga, delivered a series of shallow high-grade gold intercepts including: Drill testing to evaluate the extent of gold mineralisation at the active Plymouth Open Pit returned additional assays outside the current Resource envelope including: Gascoyne has a new JORC 2012 compliant Mineral Resource Estimate (MRE) underway for the active Plymouth open pit encompassing recent drilling results.

A maiden JORC 2012 MRE for the Archie Rose prospect is also nearing completion and was anticipated for release during April.

“Gilbey’s North is shaping up as a real game-changer for the company,” Gascoyne Resources managing director and CEO Simon Lawson said.

“These latest results demonstrate the continuity of consistent, thick zones of high-grade gold mineralisation both along strike and at depth — an outstanding result.

“Our smaller capacity rig has been very busy systematically punching close-spaced 54m deep holes around the highest grade, thickest shallow mineralisation at Gilbey’s North.

“These close-spaced holes will give us confidence in preparations for an initial Mineral Resource Estimate and potential mining scenarios.”

(ASX: AIS)

EMAIL info@aerisresources.com.

WEB www.aerisresources.com.au DIRECTORS André Labuschagne, Alastair Morrison, Michele Muscillo, Colin Moorhead

(ASX: GCY)

EMAIL admin@gascoyneresources.com.au WEB www.gascoyneresources.com.au DIRECTORS Simon Lawson, Rowan Johnston, Hansjörg Plaggemars, David Coyne

17

Galan Lithium

Caspin Resources

Galan Lithium recently dropped its gaze domestically completing the first exploration sampling and mapping work at its Greenbushes South lithium project in Western Australia.

The Greenbushes South lithium project is a Joint Venture between Galan (80%) and Lithium Australia (ASX: LIT) (20%).

Galan Lithium has received the results of a completed geochemical survey covering 425 soil samples and 14 rock chip samples taken at the northern edge of its E70/4790 tenement and at the mapped location of the Donnybrook-Bridgetown Shear Zone (DBSZ).

The DBSZ a primarily associated with syntectonic emplacement of the lithium-bearing pegmatites of the Greenbushes mine to the north.

After the raw data from the survey has been processed it will be sent to Southern Geoscience Consultants, who have been contracted to interpret results for potential lithium targets.

Pathfinder elements such as arsenic and antimony have been demonstrated in elevated levels in soil samples near the trace of the DBSZ. When combined with historical data in the area, Galan believes this indicates the strong potential for pegmatite targets within pending applications to the north.

Other pathfinder elements such as tin and rubidium show a broad lag signal east of the DBSZ. “We are excited with the prospectivity at our Greenbushes South lithium project and are encouraged with the new soil sample results that continue to indicate that the tracing elements that are found within the Donnybrook sheer zone may well host lithium pegmatites the same as in the Greenbushes mine bordering to the north of our tenements,” Galan Lithium managing director JP Vargas de la Vega said.

“The results will formulate our next exploration phase when we will be able to generate and prioritise specific exploration targets in the area.”

Caspin Resources added another string to the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia in the form of rhodium mineralisation.

Caspin had a second look at hole YARC0022 that was drilled at the XC-22 prospect to analyse the lower PGE-rich mineralised zone for the full six PGE suite of elements, which consist of iridium, osmium, rhodium and ruthenium, as well as platinum and palladium.

The analysis returned encouraging grades of rhodium associated with the platinum and palladium mineralisation Caspin had previously recognised, with a peak value of 465ppb rhodium.

Rhodium is extremely rare and is usually produced as a by-product of nickel-copper and platinum–palladium processing using conventional sulphide flotation.

“This is an interesting new development for XC-22 and indeed our entire Yarawindah Brook project,” Caspin Resources chief executive officer Greg Miles said.

“It’s a pleasant surprise given this is the first time we’ve ever assayed for rhodium and bodes well for the discovery of more mineralisation.

“Because of its value, small amounts as low as 100ppb can make a significant contribution to the economics of PGE deposits.

“We’ve now got an extensive assaying program ahead of us and if we can demonstrate that rhodium mineralisation occurs consistently with platinum and palladium at XC-22, then we could be another step closer to an economic discovery.”

Being so encouraged that its first-ever assaying of rhodium has returned such profound results, Caspin has determined to review all past exploration results with a view to selecting zones of PGE-rich mineralisation for six-element PGE assay, with the aim to identify further rhodium mineralisation.

Once drilling at XC-22 is completed, assaying for rhodium will be conducted after confirmation of platinum and palladium mineralisation.

(ASX: GLN)

EMAIL admin@galanlithium.com.au WEB www.galanlithium.com.au DIRECTORS Richard Homsany, Juan Pablo (JP) Vargas de la Vega, Daniel Jimenez, Christopher Chalwell, Terry Gardiner, Jinyu (Ramond) Liu

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(ASX: CPN)

EMAIL admin@caspin.com.au WEB www.caspin.com.au DIRECTORS Greg Miles, Cliff Lawrenson, Justin Tremain, Simone Suen, Dr Jon Hronsky

Blackstone Minerals

Redbank Copper

Blackstone Minerals is building an integrated upstream and downstream processing business in Vietnam that produces NCM Precursor products for Asia’s growing Lithium-ion battery industry.

The company owns a 90 per cent interest in the Ta Khoa nickel project (TKNP), located 160 kilometres west of Hanoi in the Son La Province of Vietnam.

The TKNP includes an existing modern nickel mine built to Australian standards, which is currently under care and maintenance.

A Pre-Feasibility Study (PFS) was conducted for the TKNP with the primary objective to provide high levels of reliability and security of nickel supply for the Ta Khoa Refinery project TKR. PFS determined that a larger beneficiation plant enables Blackstone to capture a high proportion of its flagship Ban Phuc disseminated sulphide (DSS) deposit.

The TKNP beneficiation plant is then supplemented with feed from the Ban Chang and King Snake underground massive sulphide vein (MSV) deposits.

The study reflected the TKNP, underpinned by a base load feed from the Ban Phuc DSS deposit, has a clear pathway for Blackstone to secure a large proportion of the overall nickel supply intended for the TKR Refinery.

Blackstone does not intend to dilute the company’s interest at a project level as it considers its controlling interest in the TKNP resource base a major incentive for players in the lithium-ion battery industry to collaborate on its downstream ambitions.

Redbank Copper is searching for large copper deposits across the company’s 100 per cent-owned Redbank copper project, located in the southeast McArthur Basin, extending from the Northern Territory/ Queensland border west to Glencore’s McArthur Mine.

Redbank Copper secured the project’s district scale tenement holding in July 2020 by pegging open ground on the back of work undertaken by Geoscience Australia that highlighted the prospectivity of the area for large base metal deposits between the Tier 1 zinc deposits at the McArthur and Century Mines.

Earlier this year, Redbank Copper reported assay results from a largescale regional soil sampling program completed within the project area.

Initial analysis of the soil sampling results highlighted multiple copper targets of sizeable dimensions with the Calvert South prospect, located 50km west of the Redbank copper deposits, emerging as a key area of interest.

Redbank describe Calvert South as a 40km anomalous hydrothermal alteration ‘cell’ defined by copper/manganese/bismuth/ antimony anomalism.

The company expects to define location of drill targets following ground geophysical surveys using Redbank’s in-house IP system to run DDIP (dipole induced polarization) lines over the 40km area.

“Our extensive soil sampling program has provided a large surface geochemical dataset that reveals significant copper anomalism and clear vectors to copper mineralisation in the McArthur Basin over the Redbank project area,” Redbank Copper managing director Hugh Thomas said.

“This extensive foundation dataset, using the latest multi-element geochemical assay techniques, provides Redbank’s exploration team with crucial insights into the structural controls of the McArthur Basin.

“Importantly, these soil assay results allow us to build an extensive regional framework of the Redbank project area that will pave the way for a streamlined and targeted approach to drilling later this year.”

(ASX: BSX)

EMAIL admin@blackstoneminerals.com.au WEB www.blackstoneminerals.com.au DIRECTORS Hamish Halliday, Scott Williamson, Dr Frank Bierlein, Alison Gaines, Hoirim Jung

(ASX: RCP)

EMAIL admin@redbankcopper.com.au WEB www.redbankcopper.com.au DIRECTORS Tony Kiernan, Hugh Thomas, Bruce Hooper, Dale Henderson

19

Nexus Minerals

Hammer Metals

Nexus Minerals is exploring for gold deposits on a prospective tenement package in the Eastern Goldfields of Western Australia.

Most recent activity has been in WA on the company’s Wallbrook gold project, from which it announced further high-grade gold assay results from drilling carried out at the Crusader-Templar prospect.

Nineteen RC drill holes all intersected gold mineralisation exhibiting strike and depth continuity, consistent with the results previously achieved by Nexus when drilling at Crusader-Templar.

Results from the RC drilling included: » 5m at 9.53 grams per tonne gold (within 11m at 5.32g/t gold from 96m); » 7m at 5.36g/t gold (within 19m at 2.65g/t gold from 65m); and » 4m at 4.17g/t gold (within 15m at 1.32g/t gold from 94m).

“The strength of these results continues to build our confidence in the potential for the Crusader-Templar prospect to evolve into a very large mineralised system,” Nexus Minerals managing director Andy Tudor said.

Further initial RC drilling of two regional exploration targets identified by regional gravity and magnetic surveys was also completed.

At the Solomon prospect, three broad spaced RC lines consisting 17 drill holes testing for the northern extension of the mineralised corridor approx. 800m north of Crusader-Templar intersected similar host rocks and alteration style observed in the Crusader-Templar mineralised corridor.

Early indication from a planned 18 RC hole at the Branches prospect are promising with extensive hematitie altered / silicified quartz porphyry rock units being intersected.

“The regional drilling being undertaken at both Solomon and Branches prospects shows very positive indications that the mineralised corridor, and certainly the ‘Right Rocks’, extend a further approx. three kilometres to the north of Crusader-Templar and remain open,” Tudor said.

Hammer Metals continues to make satisfactory progress on the company’s suite of exploration projects within its Mt Isa exploration portfolio in northwest Queensland.

In March, Hammer released laboratory assay results for a previously reported high-grade copper-gold sulphide intercept at the 100 per centowned Ajax prospect.

The company explained the lab results upgraded previously reported p-XRF intercept at the Ajax prospect, returning assay results of: » HMLVRC014 11 metres at 5 per cent copper and 2.5 grams per tonne gold from 24m, within a broader interval of 16m at 3.5 per cent copper and 1.8g/t gold from 22m.

“It’s extremely pleasing to see a significant upgrade to the preliminary assay results at Ajax,” Hammer Metals managing director Daniel Thomas said.

“Copper grades above five per cent are rare, especially with the potential relationship of this intercept to a nearby sizeable geophysical target.

“Given the absence of graphite in the immediate area, the conductor may represent a prospective sulphide horizon.

“The corresponding strong copper and gold geochemistry at surface presents Ajax as one of the more exceptional exploration targets that I have observed.

“Another high-quality target has now been added to our drilling sequence.”

Hammer indicated the identified mineral horizon at Ajax defined by hole HMLVRC014 will be followed up with drilling along strike and at depth to determine the potential geometry of the system.

The testing of the EM target zone to the east of Ajax has been prioritised with Hammer undertaking additional cultural clearances and finalising its land access arrangements.

The hole will be tested with diamond drilling with initial indications that drilling will commence once landholder negotiations have been finalised.

(ASX: NXM)

WEB

www.nexus-minerals.com

DIRECTORS Paul Boyatzis, Andy Tudor, Dr Mark Elliott, Bruce Maluish

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(ASX: HMX)

EMAIL info@hammermetals.com.au WEB www.hammermetals.com.au DIRECTORS Russell Davis, Daniel Thomas, Ziggy Lubieniecki, David Church

Kaiser Reef

Dreadnought Resources

Kaiser Reef has maintained the pace of the drilling campaign at the company’s Nuggety Reef historic gold mine, located at the northern end of the Union Hill gold mine in Maldon, Victoria.

Kaiser Reef claims the Nuggety Reef mine as being one of, “if not the, highest grade significant Australian gold mines with recorded production of 301,000 ounces at 187 grams per tonne recovered gold”.

A small-scale surface diamond drilling program, consisting four holes, targeted a better understanding of the mineralisation controls in both the eastern and western reefs, which are located within the main north-south Nuggetty shear zone.

The drilling encountered elevated bismuth mineralisation within a trend that appears to be associated but subsidiary to the main Nuggety gold mine trend.

Kaiser considers elevated bismuth is possibly also an important indicator element in this district Modelling of these mineralised trends identified an untested target with substantial up and down plunge extents, additional to deeper down plunge trends within the main Nuggety mine trend.

Kaiser Reef indicated its aim for future drilling at the Nuggety Mine will be to test down dip positions near the granite contact fand following the down plunge positions of the Nuggety Mine.

Drilling will also be designed to delineate the bismuth mineralisation trend and coincident for a high-grade shoot within that.

The Nuggety shear zone continues to the south and the prospective target contact with the Harcourt granite remains essentially untested down plunge.

This recently identified north-north-eastern trend is also a high priority target Further to the south, the company has an underground drilling rig continuing exploration from underground positions within the Union Hill decline.

Early results have already returned some excellent high-grade intervals.

Dreadnought Resources closed up shop at the RIU Explorers Conference in February to immediately commence RC drilling at the company’s Illaara project in the Yilgarn Region of Western Australia.

Dreadnought kicked off the campaign at the Nelson copper-leadzinc-silver prospect with a six hole program where six strong FLEM anomalies had been defined coincident with copper-lead-zinc-silver and VMS pathfinders in soil anomalies.

Subsequent drilling of a three hole program was planned to test coincident FLEM and magnetic anomalies at the Trafalgar copper-leadzinc-silver prospect.

With the initial drilling complete at Nelson and Trafalgar, DHEM was to be undertaken with results expected in April/May 2022.

Don’t look away, because once the above drilling was finished the rig was booked to drill 12 holes to test the continuation of iron ore undercover at the King’s prospect, before a maiden drilling campaign of 17 holes at the Spitfire gold prospect and 18 shallow Resource drilling holes were carried out at Metzke’s Find gold prospect.

Dreadnought expects results for this drilling to be in by May/June 2022 with a maiden JORC Resource for Metzke’s Find released around June/July 2022.

“Dreadnought is excited to commence the 2022 exploration program at Illaara,” Dreadnought Resources managing director Dean Tuck said.

“This program is multifaceted and will: 1. deliver Dreadnought’s first JORC Resource from the high-grade Metzke’s Find gold prospect.

2. test the continuation of high-grade iron ore undercover at Kings which is located near existing iron ore mining infrastructure. 3. test a dozen base metal VMS and Au targets with significant discovery potential. 4. generate and define drill targets for LCT pegmatites at the Peggy Sue pegmatite swarm. 5. Evaluate the Central Komatiite for nickel sulphide potential.”

(ASX: KAU)

EMAIL admin@kaiserreef.com.au WEB www.kaiserreef.com.au DIRECTORS Jonathan Downes, Adrian Byass, Stewart Howe

(ASX: DRE)

EMAIL info@dreadnoughtresources.com.au WEB www.dreadnoughtresources.com.au DIRECTORS Paul Chapman, Dean Tuck, Ian Gordon, Paul Payne

Kaiser Reef Limited

21

Sunshine Gold

Cazaly Resources

Sunshine Gold is focused on gold and copper projects in Queensland comprising 100 per cent interests in the Triumph, Hodgkinson, Investigator and Ravenswood West projects.

Sunshine Gold recently announced the maiden JORC 2012-compliant Mineral Resource Estimate for the Triumph gold project near Gladstone in Queensland.

The MRE came in totalling 1.8 million tonnes at 2 grams per tonne gold for 118,000 ounces contained gold just 16 months since Sunshine Gold commenced drilling in December 2020 at a discovery cost of $20.83 per ounce, plus acquisition cost of $3.39 per ounce.

The bulk of the Resource is located over approx. 1.25 kilometres of strike in the Triumph Southern Corridor, meaning the Resource comprises just some 25 per cent of the greater than 5km long Southern Corridor, providing potential for the company to grow along strike and at depth.

Sunshine anticipates further untested geophysical targets are likely to extend the Southern Corridor further.

The company indicated the next planned Resource update was expected in the December 2022 quarter following extensional drilling.

“The maiden Resource at Triumph has initially focussed on small centres within the broader Southern Corridor — a mineralised network of coalescing faults and veins,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“There is certainly scope to extend the known mineralisation as the Resources remains open along strike and at depth.

“Mineralisation along the broader Southern Corridor, identified in previous drilling and IP geophysical data, is expected to further expand the Resource during 2022.

“Drilling will recommence at Triumph in June 2022, with a focus on extending the Resource in the Southern Corridor and delineating new Resources in the Northern Corridor near historic workings.”

Cazaly Resources is focused on advancing its multi-commodity projects and Joint Ventures in Western Australia.

It recently updated the resource for the Mount Angelo North copper-zinc deposit at its Halls Creek project, to 1.72 million tonnes at 1.4 per cent copper, 12.3 parts per million silver and 1.4 per cent zinc, for 23,000 tonnes of copper, 680,000 ounces of silver and 25,000t of zinc.

Previous high-grade results at Mount Angelo North include 64m at 2.7 per cent copper (1.1 per cent zinc) and 16m at 5.9 per cent copper.

Elsewhere, Cazaly has hit the ground running at its recently-staked plus-2,450 square kilometre Ashburton project in the Pilbara.

It identified two anomalous gold-copper mineralised trends over 50km in the northern project area, and strong base metal signatures highlighting the prospectivity of regional scale structures to the south, from its first on ground regional exploration program.

Assays are also pending from the first phase of surface exploration at Cazaly’s Yabby gold and nickel project in the north-eastern Goldfields, where the tenements overlie the interpreted continuation of the mineralised ultramafic host to Poseidon’s South Windarra nickel mine and directly north of the Lady Julie gold deposit.

Still in the Goldfields, more drilling is planned at its 20 per cent-owned Mount Venn JV, which hosts gold, nickel, copper and platinum group element prospects.

The explorer has 30 per cent of the McKenzie Springs nickel joint venture adjoining the Savannah nickel mine, and overseas it has a 95 per cent interest in the Kaoko copper-cobalt project in Namibia.

Cazaly also has a stake in recently-listed Equinox Resources, as part of the sale of its 30 per cent interest in the Hamersley iron ore project, and a royalty on the Parker Range iron ore project.

(ASX: SHN)

EMAIL info@shngold.com.au WEB www.shngold.com.au DIRECTORS Alec Pismiris, Dr Damien Keys, Anthony Torresan, Paul Chapman, Les Davis

22

(ASX: CAZ)

EMAIL admin@cazalyresources.com.au WEB www.cazalyresources.com.au DIRECTORS Tara French, Clive Jones, Jonathan Downes, Terry Gardiner

Oklo Resources

Thomson Resources

Mali-focused Oklo Resources describes itself as growing a high-grade gold resource, “among the golden giants”.

Its flagship Dandoko project in the country’s west contains 11.3 million tonnes grading 1.83 grams per tonne gold for 668,500 ounces, across the Seko, Koko, Disse and Diabarou deposits.

Dandoko is close to tier one operations including B2Gold’s 7.1 million ounce Fekola mine and Barrick Gold’s 18Moz Loulo-Gounkoto complex.

Oklo said Dandoko’s initial resource demonstrated significant optionality for a potential future mining operation centred on Seko.

However, managing director Simon Taylor recently described Disse as an emerging high-grade target with both open pit and underground potential.

High-grade drilling results reported in March below or outside Disse’s current resource included 1m at 87.5g/t gold within 5m at 19.08g/t.

At Seko, the system’s depth potential was confirmed with drilling at SK2 intersecting 1m at 22g/t within 5m at 5.46g/t, 60m below the SK2 resource pit shell.

A new resource extension target was identified north of SK3, while reconnaissance drilling intersected further wide zones of mineralisation on the 4.5km SK1-Koko-Bembala trend.

“These results mark a successful conclusion to the first phase of resource growth drilling as part of the company’s 2022 field season,” Taylor said.

“The new results from SK2 highlight excellent potential to extend this significant lode at depth, which exhibits similar geological attributes to the other large gold systems in the region including the Yalea/Gounkoto deposits within Barrick Gold’s 18Moz LouloGounkoto complex located approx. 50km the northwest.

“Importantly the discovery and development of these deposits started as a series of oxide open pits before developing into significant underground systems in the primary zone.”

Oklo had technical and environmental studies underway in the March quarter, along with the 9,000m drilling program.

Thomson Resources is working to create a precious, base and technology metals resource hub near the Queensland-New South Wales border.

The latest addition to its “New England Fold Belt Hub and Spoke” portfolio was the former Silver Spur mine, wrapping up four months of acquisition activity.

A resource estimate for the Texas District deposits, including Silver Spur, Mt Gunyan and Twin Hills, was unveiled in March comprising 19.5 million ounces silver-equivalent.

The addition of the Conrad deposit takes the combined indicated and inferred total to 40.2Moz silver-equivalent at 86 grams per tonne.

“We are being careful about building the building blocks of the project with the aim of producing a robust, sustainable, long term, commercially sound project,” executive chairman David Williams said.

The next steps were calculating an initial resource for the Webbs silver-base metals deposit, drilling prioritising high-grade Silver Spur-style targets and preparation for the metallurgical and process study for the centralised processing facility.

Thomson has said it’s targeting a 100Moz silver-equivalent resource base for the hub.

The company believes its Lachlan Fold Belt projects further south in NSW could also lend themselves to a hub and spoke strategy, once more is known about the existing gold and tin deposits and the area’s potential.

It’s aiming to establish a maiden resource for its Bygoo tin project this year.

Thomson also has the Chillagoe gold project in far north Queensland and the Cannington silver project surrounding South32’s Cannington silver mine.

The company completed its dual listing on the OTCQB Market in the US in the December quarter.

It recently entered a $2.6 million placement agreement with investment company Patras Capital, noting fund executives had previously invested in the former operator of the Texas Silver project.

(ASX: OKU)

EMAIL info@okloresources.comau WEB www.okloresources.com DIRECTORS Mark Connelly, Simon Taylor, Dr Madani Diallo

(ASX: TMZ)

EMAIL info@thomsonresources.com.au WEB www.thomsonresources.com.au DIRECTORS David Williams, Eoin Rothery, Richard Willson

23

ioneer

Hillgrove Resources

Well-funded ioneer says it’s on track to be construction ready by year end at its Rhyolite Ridge lithium-boron joint venture project in Nevada, USA. It has a deep-pocketed partner in South Africa-based miner SibanyeStillwater, which agreed last year to contribute US$490 million for a 50 per cent interest in Rhyolite Ridge.

The miner also invested US$70 million in ioneer in a strategic placement which closed in October. ioneer says Rhyolite Ridge is ideally positioned to serve the US supply chain, where lithium demand from gigafactories is forecast to soar.

It struck a memorandum of understanding in March regarding potential offtake with NexTech Batteries for its production facility in Nevada, which will manufacture “next generation” solid-state batteries.

EcoPro Group, a major cathode supplier for global battery manufacturers, recently agreed to increase its offtake volume from 2,000 tonnes per annum to 7,000tpa. ioneer selected ABB Inc in February for a major engineering and equipment supply contract at Rhyolite Ridge, pending a final investment decision expected by early 2023.

It also said Rhyolite Ridge had been designed to incorporate the conservation of Tiehm’s buckwheat.

The project has anticipated capex of US$785 million and is expected to about 20,600tpa lithium carbonate, or 22,000tpa lithium hydroxide, along with 174,400tpa boric acid over a 26-year mine life.

The after-tax net present value (8 per cent discount) is US$1.265 billion and the internal rate of return is 20.8 per cent, according to a 2020 definitive feasibility study.

The all-in sustaining cash cost of US$2,510/t lithium carbonate equivalent was expected to put Rhyolite Ridge at the bottom of the global lithium cost curve.

This year, ioneer is also aiming to complete a US listing on the Nasdaq exchange and agree on final financing.

Hillgrove Resources recently completed diamond drilling into the Kavanagh mineral zone, part of the underground development at the company’s Kanmantoo copper mine in South Australia.

Hillgrove Resources said the four holes all intersected strong copper-gold mineralisation, returning highlights including: » KTDD208_W2 36.5 metres at 1.76 per cent copper, 0.29 grams per tonne gold from 367.7m downhole; » KTDD208_W4 17.85m at 1.46 per cent copper, 0.08g/t gold from 395.5m downhole; » KTDD208_W3 13.8m at 0.89 per cent copper, 0.04g/t gold from 505.3m downhole — part of a wider zone of 103.6m at 0.63 per cent copper; and » KTDD208_W1 15.3m at 2.15 per cent copper, 0.21g/t gold from 471m downhole — part of a wider zone of 97m at 0.69 per cent copper.

Earlier drilling, in 2019 and 2020, demonstrated the Kavanagh copper lodes continue beneath the Giant open pit.

Following the 2019 drilling, a maiden 2012 JORC Code Compliant Indicated and Inferred Resource for the upper portions of the Central and East Kavanagh lodes beneath the Giant open pit was estimated at 957,000 tonnes at 1.7 per cent copper, 0.14g/t gold, 3.8g/t silver for 16200 tonnes copper.

Kavanagh’s location on a granted Mine lease, proximity to the existing ore processing and tailing storage facility, and an existing haul road to the base of the open pit, which comes to within 50m of the underground mineralisation, positions the Kavanagh Underground project as a relatively low capital development.

“It is a very predictable mineral system to drill, with every drill hole since May 2021 yielding significant intersections of copper,” Hillgrove CEO and managing director Lachlan Wallace said.

“As these holes are incorporated into the geological model, it is expected the resource estimate will grow both in size and in geological confidence.”

(ASX: INR)

WEB

www.ioneer.com

DIRECTORS James Calaway, Bernard Rowe, Margaret Walker, Rose McKinney-James, Justin Babarczy, Alan Davies

24

(ASX: HGO)

EMAIL info@hillgroveresources.com.au WEB www.hillgroveresources.com.au DIRECTORS Derek Carter, Lachlan Wallace, Murray Boyte

Firefinch

Eastern Metals

Mali-focused gold and lithium developer Firefinch looks to be firing all cylinders as 2022 gets underway.

It’s working to breathe new life into what it describes as one of the world’s great open pit gold mines, “Morila the Gorilla”.

It bought 80 per cent of the former Barrick Gold/AngloGold Ashanti asset in 2020 and is transitioning Morila from a 40,000 ounce per annum tailings retreatment operation to a 150,000-200,000ozpa gold producer.

“Now that we’ve commenced mining Morila the Gorilla, the real value will start to flow in 2H2022 once we’re feeding the plant with Morila ore,” managing director Dr Michael Anderson said.

Firefinch updated resources for the Viper and N’Tiola satellite deposits in March by 128 per cent and 18 per cent respectively, taking Morila’s total resource to 2.5 million ounces.

The company also recently finalised its 50:50 joint venture with Jiangxi Ganfeng Lithium, triggering a funding package of at least US$170 million from Ganfeng to substantially fund the development of the pair’s Goulamina lithium project in Mali.

The pair announced the final investment decision at the start of this year for Goulamina, expected to be the world’s third largest spodumene producer.

Stage one has a modest capital requirement of US$255 million, according to a December definitive feasibility study update.

“Clearly the outcomes of the DFS update have been extremely compelling to the boards of both companies and it is a testimony to the project’s credentials that the partners have moved so quickly and collaboratively to commit to the development of Goulamina,” Anderson said.

Firefinch’s interest in Goulamina is being demerged into its own ASX-listed vehicle, Leo Lithium, which is being headed up by former Galaxy Resources CEO Simon Hay. Firefinch will retain up to 20 per cent of Leo Lithium.

New explorer Eastern Metals has expanded its portfolio since listing on the ASX in October adding three projects after a fully subscribed $6 million IPO. Its main assets are the Home of Bullion copper-gold deposit at its Arunta project in the Northern Territory, and the zinc-silver-lead Browns Reef at its Cobar project in New South Wales.

The Home of Bullion deposit contains 2.5 million tonnes averaging 1.8 per cent copper, 2 per cent zinc, 36 grams per tonne silver, 1.2 per cent lead and 0.14g/t gold.

Arunta also contains copper and nickel potential at Prospect D. Eastern Metals recently expanded its Arunta tenement package to add copper, lithium and rare earth element prospectivity.

“Our Arunta project has been significantly enhanced with this acquisition which dramatically increases the scope to discover additional copper and gold resources along trend from the Home of Bullion mine, in addition to targets already identified on existing tenure,” managing director Wayne Rossiter said.

“The significant increase this acquisition brings in the Barrow Creek pegmatite field and broader Arunta pegmatite province provides Eastern Metals with significantly increased potential for discovery, not just of lithium, but also REEs, base metals and gold.”

Several companies have started lithium exploration nearby, but Eastern Metals said there had been no prior exploration for lithium in its Barrow Creek project area.

The company has a 27-37 million tonnes exploration target at Browns Reef, where initial drilling has extended the lode along strike and at depth and intercepted mixed massive and disseminated sulphides in all holes.

Eastern Metals said the targets at its third project, Thomson in NSW, were copper-gold and lead-zinc-silver deposits akin to the Great Cobar and CSA copper-gold mines and the Endeavor lead-zinc mine.

(ASX: FFX)

EMAIL info@firefinchltd.com WEB www.firefinchltd.com DIRECTORS Michael Anderson, Alistair Cowden, Mark Hepburn, Brett Fraser, Brendan Borg, Bradley Gordon

(ASX: EMS)

EMAIL info@easternmetals.com.au WEB www.easternmetals.com.au DIRECTORS Robert Duffin, Wayne Rossiter, Cathy Moises, Dr Jason Berton

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Legacy Minerals

Group 6 Metals

Legacy Minerals is focused on discovering gold and copper deposits at its projects in the Lachlan Fold Belt of New South Wales.

The company listed on the ASX in 2021 and had a 16,000m drilling program underway at the time of writing, fully funded by its IPO. Exploration was planned for the first half of the year at its Cobar, Harden, Rockley, Bauloora and Fontenoy projects in the belt.

Legacy started drilling in February beneath the former Bauloora mine, where historical face samples graded as high as 3,701 grams per tonne silver, 6.9g/t gold, 55 per cent lead and zinc and 6.4 per cent copper.

Legacy has identified “numerous prospective areas” after completing an 81km, 50m line spaced gradient array induced polarisation (GA-IP) survey at Bauloora.

“Importantly, what we see in the Bauloora project is all the right ingredients for a significant low sulphidation epithermal discovery: extensive gold and silver mineralisation, scale, alteration and system preservation,” managing director Christopher Byrne said.

At Harden in “a long-forgotten goldfield”, the company is diamond drilling to follow up high-grade results from last year’s campaign at the former gold mine, which produced 55,000 ounces at an average grade of 21.7g/t until 1913.

Visible gold was identified in core cutting and re-assaying earlier reverse circulation intercepts returned results of up to 19.35g/t in December.

At Fontenoy, Legacy is planning a drill campaign to test within the 8km strike of known copper-gold mineralisation.

Helicopter magnetic and radiometric surveys were planned at Rockley and soil sampling and ground magnetics were planned for the Cobar project.

The company was also granted the Mulholland project near Bourke for three years, which is in an emerging tin-copper and nickel district.

Group 6 Metals is redeveloping its Dolphin tungsten mine on King Island, Tasmania, and aiming to make its first concentrate shipment in early 2023.

The mine is host to the “the highest-grade tungsten deposit of significant size in the Western world” according to the company, which changed name from King Island Scheelite late last year.

Construction activities began in January after Group 6 Metals secured the targeted $88 million in financing.

The mine previously operated between 1917 and 1992, when it closed due to extremely low tungsten prices.

Group 6 Metals noted the price of ammonium paratungstate (APT), the price against which tungsten products sale prices are benchmarked, reached US$330-US$335 per metric ton unit in late January, its highest price in three years.

The company has offtake agreements covering about 70 per cent of Dolphin’s expected tungsten concentrate production.

Dolphin is expected to yield about 275,000 Metric tonne units of tungsten annually over 14 years.

Tungsten, which has diverse uses from steel hardening to aeronautical and electronics, has been named a critical mineral by numerous jurisdictions due to its economic importance, supply risk and inability to be substituted.

Keith McKnight, the co-founder and former managing director of commodities development company Kirrama Resources, was appointed CEO in January to drive the development.

Group 6 Metals has also pointed to its environmental, social and governance commitments, including providing a large conservation area and reducing its carbon footprint by accessing grid power — predominantly generated by renewable energy — rather than solely relying on diesel generators.

“We are committed to redeveloping the Dolphin tungsten mine in a responsible and sustainable manner, while also generating jobs, growth and economic returns through the recommencement of mining from this fantastic asset,” McKnight said.

(ASX: LGM)

EMAIL info@legacyminerals.com.au WEB www.legacyminerals.com.au DIRECTORS Dr David Carland, Christopher Byrne, Thomas Wall, Doug Menzies, Matthew Wall

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(ASX: G6M)

EMAIL info@g6m.com.au WEB www.g6m.com.au DIRECTORS Johann Jacobs, Chris Ellis, Greg Hancock

Pacgold (ASX: PGO)

Pacgold is looking to unlock “the entire gold corridor” at its previously mined Alice River gold project in north Queensland.

The explorer, which listed on the ASX in July 2021, said the highlight of initial drilling was the discovery of the F1a high-grade gold zone within the Central Target, about 100 metres below and along strike from the historical open pit.

High-grade results reported in February included 1m at 79.1 grams per tonne gold within 43m at 3g/t at F1a.

First pass drilling 500m north of the pit in the Northern Extension returned results, including: 2m at 9.7g/t.

“These excellent results from Pacgold’s first drill program at Alice River provide compelling evidence that we have reached the tipping point on the path to a potentially large-scale gold discovery,” managing director Tony Schreck said.

Pacgold has applied for two more exploration permits that would increase the project size by 180 per cent to 1,027 square kilometres.

The company said mineralisation was already encountered along 7km of a 30km gold bearing shear zone.

The F1a zone sits within granted mining leases.

Alice River was previously mined in three different periods, firstly with several underground mines up to 40m deep in the 1900s producing 3,000 ounces at 30g/t gold.

Open pit mining in the late 1980s produced 30,000oz at 5.6g/t while a late 1990s colluvial and alluvial ore campaign produced 3,000oz at 2.5g/t, Pacgold said.

The company said it was bringing new ideas and modern exploration to an “overlooked opportunity”.

It was planning to expand the drilling program at the end of the wet season and start resource definition drilling at F1a. “‘How big could this be?’ is the question we plan to answer in 2022,” Pacgold said.

EMAIL info@pacgold.com.au WEB www.pacgold.com.au DIRECTORS Cathy Moises, Tony Schreck, Shane Goodwin, Michael Pitt

Australian Gold and Copper (ASX: AGC)

Australian Gold and Copper is focused on exploration for gold and base metals in the Central Lachlan Fold Belt of New South Wales.

The explorer listed on the ASX in early 2021 after a successful $10 million IPO with three projects: Moorefield, Cargelligo and Gundagai.

At Moorefield, the company is exploring for multimillion-ounce orogenic gold deposits like Agnico Eagle Mines’ Fosterville in Victoria.

The explorer reported near-surface gold from first pass drilling on Moorefield’s 15km Boxdale-Carlisle trend in March, including up to 6.74 grams per tonne gold at Anomaly 3.

“These results are very exciting given we have only drilled 3 anomalies in a 15km gold trend,” managing director Glen Diemar said.

“Our aggressive forward program includes 4,500m RC drilling further testing Anomalies 1-3 and recently identified new anomalies, as well as extensive soil sampling to identify more anomalies as we move south to our Carlisle Reefs gold target where we are awaiting assays from recent drilling.”

At Cargelligo, Australian Gold and Copper is searching for large, high-grade Cobar-style copper-gold and base metals deposits.

The company has cemented its position in the Cobar Basin by winning an expression of interest in December with the NSW government, enabling it to increase its landholding around Cargelligo by 840 square kilometres to 1,075 square kilometres.

It’s planning more drilling at high priority targets and was waiting on assay results from the project’s Achilles target at the time of writing.

It was awarded $200,000 from the NSW government towards drilling Achilles in the December quarter.

The company is exploring for multimillion-ounce McPhillamy’s type gold deposits at Gundagai and is planning maiden drilling at the project, which has only seen three holes drilled back in 1984.

EMAIL info@austgoldcopper.com.au WEB www.austgoldcopper.com.au DIRECTORS David Richardson, Ranko Matic, Glen Diemar

27

Sky Metals

Peako

Sky Metals has a suite of tin, copper and gold projects in New South Wales and is accelerating exploration at Doradilla thanks to a $5.6 million raising late in 2021.

Activities are focused on expanding the major tin-polymetallic mineral system at Doradilla’s 3KEL target.

Assays in January confirmed the discovery of a new zinc zone 500m along strike from 3KEL, with a highlight of 11.2m at 3.09 per cent zinc from 144.9m.

Results from recent drilling at 3KEL extended mineralisation at depth, including 18.2m at 0.16 per cent tin from 150.8m.

The company recommenced drilling at Doradilla late in the March quarter once localised flooding abated.

Sky was planning more reverse circulation drilling this quarter at its Tallebung project, targeting a shallow, bulk tonnage tin deposit within the lodes of the project’s former tin mine.

Previous results at Tallebung have included 1m at 5.83 per cent tin and 0.36 per cent tungsten within 87m at 0.18 per cent tin from 60m.

Sky was also planning to explore the potential for intrusion-related gold at Tallebung this quarter.

Still in tin, Sky has two exploration licences in the New England Orogen, where a desktop review of previous exploration is planned.

In the copper-gold space, the company has the Galwadgere project and Iron Duke, where Sky has an exploration licence and the option to purchase another from Balmain Minerals.

Sky had RC drilling planned for Iron Duke’s Christmas gift workings.

Its other projects are Caledonian/Tirrana (gold), plus an 80 per cent interest in Kangiara (gold) and Cullarin (gold-lead-zinc-copper), where maiden drilling in 2020 returned 93m at 4.2 grams per tonne gold from 56m.

Diamond drilling and downhole electromagnetic surveys were planned for this quarter at Cullarin’s Hume target.

Explorer Peako is primarily focused on its flagship polymetallic East Kimberley project in Western Australia.

It said the platinum group element potential would be a key focus for its 2022 field activities.

Encouraged by recent reporting of PGE plus gold mineralisation at Pantoro’s nearby Halls Creek project, Peako conducted a review of the Lamboo Ultramafic Intrusions and identified the potential for a “significant” PGE mineralised system at its Eastman tenement.

Historical intercepts have included 18m at 1.42 grams per tonne platinum, palladium and gold from 32m.

A program of surface sampling and field mapping would be used to refine targets for drill testing planned for the second half of the field season, Peako said.

Also at Eastman, scout drilling to follow on from previous Peako and historical BHP drilling recently intersected gold, silver, lead and copper mineralisation at the Landrigan prospect.

Best results included 4m at 6.2g/t gold from 11m, 13m at 40.7g/t silver from 11m, 15m at 2.3 per cent lead from 9m and 14m at 0.4 per cent copper from 11m.

The results follow rock chip samples in December grading up to 19.7g/t gold, 243g/t silver, 3.3 per cent copper and 10.5 per cent lead.

Meanwhile the best rock chip sample from the galena-rich vein system at the Gossan 15 prospect at East Kimberley’s Wirana tenement returned 89g/t silver, 55.8 per cent lead and 1.1 per cent zinc.

Peako also recently identified new gold prospects at Wirana, including Taylor River where rock chips returned up to 3g/t gold and 11.1 per cent copper.

To the south, Peako has the Broadhurst (Sunday Creek) project in the Paterson province, which it believes is prospective for Nifty copper or Maroochydore copper-cobalt style mineralisation.

(ASX: SKY)

EMAIL admin@skymetals.com.au WEB www.skymetals.com.au DIRECTORS Norman Seckold, Richard Hill, Rimas Kairaitis

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(ASX: PKO)

EMAIL info@peako.com.au WEB www.peako.com.au DIRECTORS Geoff Albers, Rae Clark, Dr Paul Kitto

Thor Mining

E79 Gold Mines

Thor Mining says it’s well funded to advance its diversified asset base, which includes battery and critical minerals projects in Australia and the USA. As the March quarter drew to a close, the company was drilling at its Ragged Range gold-lithium-nickel project in the Pilbara, and at its potential in-situ recovery (ISR) copper Joint Venture projects in South Australia.

It had drill permitting underway for Wedding Bell in Colorado, one of its three uranium and vanadium projects in the US. Thor also has the advanced Molyhil tungsten-molybdenum-copper project in the Northern Territory, and a 40 per cent in the Bonya tungsten-copper-vanadium project 30km to the east.

The company raised $2.75 million and £800,000 in two separate placements in the second half of 2021, to put it in a strong position to deliver on its plans for this year.

At Ragged Range, Thor was planning to drill the Sterling gold prospect and further explore newly defined lithium targets.

In SA, recent drilling at the Alford East copper-gold project returned results including 32.9m at 0.4 per cent copper and 0.31 grams per tonne gold.

Thor is looking to identify an ISR pathway, ideally for both the copper and gold mineralisation at Alford East, “that is socially and environmentally friendly rather than using conventional acid” ISR. ISR trials have started at the Kapunda project, which along with the Alford West copper project is where EnviroCopper (Thor 30 per cent) can earn a 75 per cent interest.

Thor would like to see Kapunda in ISR production in 2024, according to a March presentation.

Back in the NT, Molyhil is fully permitted for development and Thor has drilling planned to follow up a newly identified “large magnetic target” south of the known mineralisation.

E79 Gold Mines has 683 square kilometres of prospective ground within its two main Western Australia-based projects, the Laverton South project in the Laverton gold district and the Jungar Flats project in the North Murchison region.

E79 Gold recently completed a large-scale gravity survey at the Jungar Flats project, located 70km west of Meekatharra and 45km north-northeast of the 2.8 million ounces Big Bell gold deposit.

The large-scale ground gravity survey was conducted over the bulk of the tenement package and was designed to more accurately define the location of the inferred northern extent of the Big Bell shear and to more accurately define greenstone stratigraphy underneath the surficially mapped granite.

The survey showed the interpreted position of the Big Bell shear traversing in an arcuate north-south trace along the eastern margin of a series of gravity highs, interpreted to reflect denser mafic intrusions.

The mapped dolerite in the central part of the project is interpreted to be more extensive at depth under cover to the south.

“The survey has successfully mapped the interpreted northern extent of the highly prospective Big Bell shear and associated favourable greenstone units under cover which traverse the core of the tenements,” E79 Gold CEO, Ned Summerhayes, said: “Cross-cutting structures are also visible along the greenstone, as well as a more extensive dolerite unit that forms a local topographic high.

“A number of deposits within the region are located either on the Big Bell shear, or on splays off the Big Bell shear.”

The work allows E79 Gold to focus its exploration efforts on the most prospective host units within the Jungar Flats project, after having completed a large reconnaissance aircore drilling program at the Laverton South project.

(ASX: THR)

EMAIL corporate@thormining.com WEB www.thormining.com DIRECTORS Nicole Galloway Warland, Mark Potter, Mark McGeough, Alastair Clayton

(ASX: E79)

EMAIL info@e79gold.com.au WEB www.e79gold.com.au DIRECTORS Christopher Cairns, Peter Ironside, Deborah Lord, Ed Summerhayes

29

Elementos

Platina Resources

Elementos has a definitive feasibility study underway for its Oropesa tin project in Spain, having opted to bypass a prefeasibility study given its confidence in the project.

Since acquiring Oropesa in 2019, Elementos has increased the total resource by 50 per cent, to 18.86 million tonnes grading 0.4 per cent for 75,400t of tin.

Meanwhile the tin price has more than doubled since a May 2020 updated economic study to about US$40,000/t.

An optimisation study released in March increased Oropesa’s scale and economics, outlining a robust case to upgrade to 1.25 million tonnes per annum and a pre-tax internal rate of return of 46 per cent, using a base case tin price of $32,500/t.

“The optimisation study confirms that Oropesa will deliver a low capital-intensive project, with a competitive operational cost base, producing significant quantities of tin concentrate for at least 13 years,” managing director Joe David said.

Oropesa received support from the Andalucian government, assigning it to the project accelerator unit, for accelerated and streamlined regulatory assessment and processing.

Elementos said a forecast tin supply shortfall was being partly driven by reduced productivity by major miners and increasing global demand due to electrification, green energy, automation, electric vehicles and the conversion to lead-free solders as electrical contacts.

Recent drilling confirmed continuity of mineralisation beyond the current resource and highlighted potential for recovering additional base metals, namely zinc and copper.

Elementos also owns the previously mined Cleveland tin project in Tasmania, where David said a drilling campaign started in February “could redefine the magnitude” of the project.

Cleveland contains a 7.47 million tonne tin and copper resource grading 0.75 per cent and 0.3 per cent respectively, plus a 3.97Mt tungsten resource grading 0.3 per cent tungsten.

Platina Resources is advancing its gold portfolio in Western Australia and its namesake scandium project in New South Wales, plus has investments in precious, base and specialty metals projects.

Platina recently said it was “going for gold” and appointed experienced geologist Rohan Deshpande to drive its WA gold strategy.

Deshpande was previously exploration manager at De Grey Mining, which last year unveiled a maiden 6.8 million ounce gold resource for its Hemi discovery in the Pilbara.

Platina has identified drill targets at its Xanadu project in the Ashburton Basin and at Challa, between the Mt Magnet and Sandstone gold districts.

“Xanadu has immense appeal given the number and width of economic grade gold drill intercepts which have never been followed up with a systematic exploration campaign,” managing director Corey Nolan said in February.

Challa is in a prolific gold producing district but has seen limited recent or modern exploration activities.

Platina also has a tenement application at Mt Narryer, with a target, “analogous to the Julimar nickel-platinum group element discovery”.

In NSW, the company has taken a fresh approach at its Platina project, which it describes as having one of the world’s highest-grade scandium reserves.

Permitting is underway and Platina is aiming to develop a proprietary process to produce value-added, aluminium-scandium master alloy.

Its intellectual property development program produced a new master alloy, Platina announced in February, and production trials were underway.

“The key to unlocking the scandium market is having the ability to supply customers with master alloy at a small scale and grow production as demand increases,” Nolan said.

Elsewhere, Platina has investments in London-listed Alien Metals, Canada-listed Blue Moon Zinc and Major Precious Metals, plus ASX-listed gold explorer Nelson Resources.

(ASX: ELT)

EMAIL admin@elementos.com.au WEB www.elementos.com.au DIRECTORS Andy Greig, Joe David, Corey Nolan, Calvin Treacy, Brett Smith

ELEMENTOS TOMORROW’S TIN

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(ASX: PGM)

EMAIL admin@platinaresources.com.au WEB www.platinaresources.com.au DIRECTORS Brian Moller, Corey Nolan, Dr Chris Hartley, John Anderson

Tesoro Resources

Latin Resources

Tesoro Resources describes itself as the first mover in a new gold district, having discovered and defined a 661,000 ounce gold resource at its majority-owned El Zorro project in Chile within 18 months of listing on the ASX. It extended its holdings in March, with its 85 per cent owned Chilean company purchasing an adjoining 22 square kilometres of concessions covering the northern extensions of the El Zorro Tonalite.

“We continue to be impressed by the district scale potential of the El Zorro gold system and this acquisition complements our land package,” managing director Zeff Reeves said.

Tesoro said El Zorro had “scale, simplicity and exceptional metallurgy in a strategic location”.

Metallurgical results have included up to 98 per cent recovery and pointed to a simple processing flowsheet.

Tesoro has been releasing eye-catching drilling results as it works towards a resource update.

Among recent results, Tesoro reported 84m at 1.16 grams per tonne gold at El Zorro’s main Ternera deposit, including 10.7m at 6.51g/t.

“Furthermore, Ternera remains open in all directions with some wide zones of mineralisation offering excellent potential for further mineral resource expansion,” Reeves said.

A scoping study was underway at the time of writing.

Regionally, Tesoro discovered Ternera East last year, and said in January the initial drilling results from the Drone Hill and Toro Blanco targets confirmed district scale gold potential.

The company then announced a discovery northwest of Ternera in January, identifying a 1.5km long gold trend with surface samples returning up to 101.5g/t gold.

The company added a US listing in January on the OTCQB. Tesoro welcomed a new shareholder into its top 20 in March, saying the UK family office had committed to a $1 million investment.

Latin Resources has projects in Australia and South America “in commodities that progress global efforts towards net zero emissions”.

It reported a potential high-grade lithium discovery at its Salinas project in Brazil in March.

The first assay results from the Southern Target included a peak individual grade of 3.22 per cent lithium oxide in the second hole and 1.13m at 2.85 per cent in the first hole.

“These results continue to give us confidence that we may be onto a potentially major new lithium discovery in one of the best mining jurisdictions in the world,” managing director Chris Gale said.

“Lithium grades over two per cent are not common, with most operations in Australia running between one to one and a half per cent lithium.”

Drilling was set to shift to the “much thicker pegmatites” to the south.

Toronto-listed Sigma Lithium discovered the Grota do Cirilio lithium deposit in 2017 nearby and its high-grade spodumene project is under construction.

In Argentina, Latin Resources has “the largest hard rock spodumene landholding of more than 70,000 hectares” at Catamarca, where it has a joint venture with local investment group Integra Capital, with field work starting in March.

Latin had drilling anticipated this quarter at its MT03 copper project in Peru while in Chile, it has a stake in copper explorer Solis Minerals.

In Australia, Latin’s large Cloud Nine halloysite-kaolin deposit is advancing to trial mining and a prefeasibility study is expected this quarter.

Drilling was underway at the time of writing to upgrade the resource, which contains 207 million tonnes of kaolinised granite.

The project’s halloysite is being tested by CRC CARE to identify and refine its usage for the reduction of methane emissions in the agricultural sector.

(ASX: TSO)

EMAIL info@tesororesources.com.au WEB www.tesororesources.com.au DIRECTORS John Toll, Zeffron Reeves, Linton Putland, Geoff McNamara, Kristie Young

(ASX: LRS)

EMAIL info@latinresources.com.au WEB www.latinresources.com.au DIRECTORS David Vilensky, Christopher Gale, Brent Jones, Pablo Taratini

31

Charger Metals

Rex Minerals

Less than a year since listing on the ASX in July 2021, explorer Charger Metals has exploration underway at its three majority-owned battery metals projects in Western Australia and the Northern Territory.

Charger believes its Bynoe project in the Top End has the potential to contain a large lithium system.

Bynoe is surrounded by Core Lithium’s advanced Finnis project, which has a 15 million tonne resource grading 1.3 per cent lithium oxide.

Charger said in January that its recent geochemistry and aeromagnetic programs, combined with drilling information provided to the market by Core, suggested “multiple swarms of lithium-caesiumtantalum pegmatites” extended from Finniss into the Bynoe project.

Charger was preparing to drill priority targets at Bynoe, including the Megabucks, Enterprise, Jenna’s and 7-Up pegmatites, following the Territory’s wet season.

In WA, Charger has the Coates nickel-copper-cobalt-platinum group elements project and the Lake Johnston lithium project.

Charger was planning initial drilling at Coates, “a Julimar geochemical lookalike”, after reaching a key landowner agreement in March.

“The results of recently completed land-based geophysical surveys coupled with coincident geochemical anomalism, provides the company with an excellent drill target in the emerging PGE and nickel province at a time of record nickel and palladium prices,” managing director David Crook said.

Charger was planning an initial five diamond core holes at Coates’ T1 target.

The company said its third project, Lake Johnston, was in a region which had attracted considerable interest following Kidman Resources’ discovery of the Earl Grey/Mt Holland lithium deposit, now being developed by Wesfarmers and SQM. Charger expected to complete soil geochemistry sampling at Lake Johnston this quarter.

The strike extent of the sampling at the projects Mt Day and Medcalf prospects was 23km and 9km respectively.

Rex Minerals’ flagship asset is its shovel-ready Hillside copper-gold project in South Australia, where the company is aiming for a final investment decision by year-end.

It also has the Hog Ranch epithermal gold property in Nevada, USA. Hillside is “one of the largest undeveloped open pit copper projects in Australia” and contains 2 million tonnes of copper and 1.4 million ounces of gold.

The mine is expected to produce an average annual 35,000t copper and 24,000oz of gold for the first 12 years.

Rex raised $50 million in the second half of 2021 for predevelopment activities at Hillside and said recently it was advancing the best financing options available.

The company announced in March it had partnered with Ausenco for the provision of Engineering, Procurement and Construction Management (EPCM) services for the project on the Yorke Peninsula.

“As medium-to-long-term ‘green’ copper demand is championed across the globe, near-term copper production at Hillside has just taken a significant leap forward,” CEO Richard Laufmann said.

“These are very exciting times for copper, for Rex Minerals and its stakeholders — copper will play a defining role in reshaping our lifestyle on a global scale.”

In the US, drilling was set to resume at Hog Ranch once weather permitted.

“Huge intersections of gold mineralisation starting from within 15m of the surface were encountered,” Laufmann said as Rex released drilling results from the project in March.

Highlights included 129.5m at 0.55 grams per tonne gold from 12.2m at Bells and 77.7m at 0.5g/t from 45.74m at Airport.

Thick and high-grade intersections reported west of Airport last year included 56.4m at 2.12g/t.

Rex acquired the project in 2019 and took the gold resource from zero to 2.2Moz within 18 months.

(ASX: CHR)

EMAIL admin@chargermetals.com.au WEB www.chargermetals.com.au DIRECTORS David Crook, Terry Gardiner, Adrian Griffin

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(ASX: RXM)

EMAIL rex@rexminerals.com.au WEB www.rexminerals.com.au DIRECTORS Ian Smith, Richard Laufmann, Greg Robinson, Ronald Douglas, Amber Rivamonte, Andrew Seaton

Rox Resources

Impact Minerals

Western Australia-focused Rox Resources’ is applying a modern approach to past-producing assets, growing existing resources and returning them to production.

Rox Resources owns 70 per cent, and is project manager, of the advanced Youanmi gold Joint Venture, and owns the Mt Fisher gold project.

It has feasibility studies continuing into the restart of the Youanmi gold mine.

A 156 per cent increase to the Youanmi Deeps resource in January took the project’s total to 3 million ounces grading 3.78 grams per tonne gold.

Another resource update is expected this quarter.

The company raised $4 million in February to institutional investors.

Youanmi closed in 1997 when the gold price was about $450 per ounce and Rox said the last parcel of ore mined underground graded 14.6g/t.

Its metallurgical testwork has “demonstrated a well understood pathway to very high gold recoveries”.

Rox announced in December the Albion process was the preferred treatment method for Youanmi Deeps ore and had achieved an average of 92.2 per cent gold extraction.

“Rox intends to complete more detailed testwork which will incorporate larger sample volumes during calendar year 2022,” it said.

The company recently reported near mine high-grade results down plunge including 3.25m at 32.33g/t gold.

Exploration on regional JV tenements identified a 4km mineralised corridor and new targets, with Rox reporting results including 4m at 2.37g/t from 68m in February.

Its Mt Fisher gold project is 140km southeast of Wiluna and has an 89,000 ounces Resource.

Rox has a renewed exploration focus on Mt Fisher and the Mt Eureka JV, saying VMS prospectivity had been identified and there was “strong potential” to add gold resources.

It demerged its nickel and base metal assets into Cannon Resources in the second half of 2021.

Impact Minerals describes itself as an emerging West Australian battery metal explorer.

The company announced late last year it was focusing on its expanded WA portfolio following its Joint Venture with miner IGO, which can spend $18 million over eight years to earn 75 per cent of two tenements at Impact’s Broken Hill project in New South Wales.

In WA, Impact has the Arkun nickel-copper-platinum group metals and Doonia gold projects, plus four joint ventures added in December with prospectivity for nickel, copper, PGMs, lithium and other metals.

Impact can earn 80 per cent of the new Hopetoun, Dalgaranga, Narryer and Jumbo projects.

Diamond drilling was underway at Hopetoun’s Top Knotch copper-gold target as the March quarter drew to a close.

Silverstar was set to be drilled next and Impact was seeking approvals for other drill targets at Hopetoun.

At Arkun, Impact said numerous high priority targets for rare earth elements (REE) and rubidium had been identified in soil geochemistry data.

Impact had staked Arkun after Chalice Mining’s Julimar PGM discovery.

High priority targets for nickel, copper, PGM, lithium-caesiumtantalum pegmatites, REE and “extensive areas of anomalous rubidium” were also recently identified at the Jumbo JV, adjacent to Arkun.

Impact raised $2 million in March for follow-up work at Arkun and Jumbo, for first pass soil geochemistry at Narryer and Dalgaranga and for further drilling at Hopetoun and Doonia.

At Broken Hill, Impact managing director Dr Mike Jones said there had been “an early breakthrough” in the EM survey being funded

by IGO with the identification of a large, strong electromagnetic conductor considered highly prospective for massive sulphide mineralisation.

Impact said in March it was continuing to rationalise its project portfolio in eastern Australia.

EMAIL admin@roxresources.com.au WEB www.roxresources.com.au

DIRECTORS Peter Unsworth, Dr Mike Jones, Paul Ingram, Dr Frank Bierlein

(ASX: RXL)

DIRECTORS Stephen Dennis, Alex Passmore, John Mair

(ASX: IPT)

EMAIL info@impactminerals.com.au WEB www.impactminerals.com.au

MINERALS

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Corazon Mining

ChemX Materials

Corazon Mining is exploring for battery metals nickel, copper and cobalt at its projects in Australia and Canada.

It had a $10.7 million raising underway at the time of writing, to accelerate exploration and development, following a $2 million placement by Blackstone Minerals in March.

Corazon’s primary focus is the past-producing Lynn Lake nickelcopper-cobalt redevelopment opportunity in Canada’s Manitoba province.

Lynn Lake was mined for 24 years until 1976, producing 206,200 tonnes of nickel and 107,600t of copper.

It has an updated resource containing 116,800t of nickel, 54,300t of copper and 5,300t of cobalt, plus “exceptional infrastructure”.

Corazon plans further exploration activities at Lynn Lake in 2022, including engineering and processing studies and resource definition drilling.

The company views what it believes to be discovery potential within the region and the Fraser Lake Complex as a priority target.

Drilling is scheduled to test discrete pipe-like bodies (pipes) within the FLC that were identified by a detailed aerial gravity survey conducted over the Lynn Lake project in January that identified features not highlighted by historical gravity data.

The survey highlighted, within the FLC, multiple discrete, dense, sub-vertical pipe-like bodies.

These features appear to join at depth, forming a large dense magnetic body, within the core of the intrusive complex.

The geophysical characteristics of the FLC pipes are most similar to the EL Deposit within the Mining Centre.

In Australia, Corazon has exercised the option to acquire the Miriam nickel project in Western Australia and has an 80 per cent interest in the Mt Gilmore cobalt-copper-gold sulphide project in New South Wales.

Mt Gilmore hosts the “rare high-grade, cobalt sulphide deposit” Cobalt Ridge, plus a copper-cobalt-silver-gold hydrothermal system over more than 20km of strike.

Newcomer ChemX Materials, which started trading on the ASX early this year, is a materials technology company focused on the electrification and decarbonisation markets.

It has two exploration projects on South Australia’s Eyre Peninsula, the Kimba kaolin/halloysite project and Jamieson Tank manganese project.

It’s also developing its HiPurA process, described as a unique technology capable of producing high purity alumina (HPA) and high purity aluminium cathode precursor salts for lithium-ion batteries.

The company was aiming to commission its HiPurA HPA microplant this quarter, to provide data for a prefeasibility study and to produce HPA for use in marketing and qualification processes.

“Since ChemX listed on the ASX in January 2022, the progress made in the development of the HiPurA HPA technology has been exceptional despite the challenging market conditions,” managing director David Leavy said.

ChemX said a key competitive advantage was that the HiPurA process was not tied to mine production, with the feedstock being a widely available chemical.

HPA has been added to the Australian government’s list of critical minerals and is a key safety component of lithium-ion batteries.

ChemX said the US$1.8 billion HPA market had been forecast to grow 18 per cent over the next seven years.

In SA, ChemX’s maiden exploration drilling program wrapped up in March.

The company said rare earth element potential would also be investigated as part of the assay analysis for both projects.

It said multiple intersections of more than 30m of kaolin clays were achieved at Kimba across several deposits, with the longest intersections being 51m at Kelly Tank and 54m at Bunora.

Samples were also taken from Jamieson Tank for metallurgical testwork, for the development of manganese cathode precursor material for the lithium battery market.

(ASX: CZN)

EMAIL info@corazon.com.au WEB www.corazon.com.au DIRECTORS Terry Streeter, Brett Smith, Jonathan Downes, Dr Mark Yumin Qiu

34

(ASX: CMX)

EMAIL info@chemxmaterials.com.au WEB www.chemxmaterials.com.au DIRECTORS Kristie Young, David Leavy, Stephen Strubel, Warrick Hazeldine

Miramar Resources

Altech Chemicals

Miramar Resources has a busy year of exploration activity planned at its iron oxide-copper-gold (IOCG), gold and nickel-copper-platinum group elements projects in Western Australia.

The company was kicking off a drilling campaign at the Gidji and Glandore projects near Kalgoorlie at the time of writing.

Miramar purchased 80 per cent of the Gidji Joint Venture as part of its October 2020 IPO and ASX listing.

It describes Gidji as a potential new gold camp 15km north of Kalgoorlie, where it also recently identified nickel potential.

“The new nickel sulphide targets we have identified again confirm how underexplored the Gidji project is, not just for gold, but for other commodities as well,” executive chairman Allan Kelly said.

At Glandore, recent drilling “upgraded the very large gold footprint” outlined under a salt lake, with results including 9m at 0.56 grams per tonne gold from 46m, including 2m at 1.4g/t.

Still in the Goldfields, Miramar has reconnaissance aircore drilling planned for its Randalls gold project near Silver Lake Resources’ Mt Belches mining centre.

“Come mid-year, our focus will shift to our northern projects, including drill testing large MMI [mobile metal ion] soil anomalies at Whaleshark where we think there is potential for discovery of a large IOCG system,” Mr Kelly said.

According to the company, the scale, tenor and element association of the MMI anomalism was apparently similar to that seen over the 3 million ounce Havieron deposit.

Also in the Gascoyne, the company said preliminary electromagnetic data highlighted more than a dozen anomalies that might indicate the presence of nickel-copper-PGE sulphides at Mt Vernon on its Bangemall project.

Miramar also has two under-explored projects in the Murchison near existing gold operations.

Altech Chemicals is advancing its plans to become one of the world’s leading suppliers of high purity alumina.

In tandem, it’s progressing its ‘ground-breaking’ alumina coating technology designed to improve lithium-ion battery life and performance.

Altech intends to ship feedstock from its near-surface kaolin deposit at Meckering in Western Australia to its HPA plant being developed in Johor, Malaysia.

Stage one and two construction at Johor are complete.

In an update in March, Altech said it was continuing to work to finalise the proposed US$144 million listed green bond offering and additional project equity, which would provide the balance of funds required to recommence construction.

Altech has an offtake sales agreement with Mitsubishi Australia covering the first 10 years of HPA production.

HPA is a high-margin product required to produce synthetic sapphire, used in electronics and scratch-resistance glass in smartphones, and is also used by lithium-ion battery manufacturers.

Altech’s research and development team had a breakthrough in November, now named Silumina Anodes.

“After almost 12 months of challenging work, the R&D team ‘cracked the silicon barrier’ and successfully produced a series of lithium-ion battery anode materials, which when tested showed about 30 per cent higher energy retention capacity compared to conventional lithium-ion battery anode materials,” Altech said.

“Altech’s potentially game changing technology has demonstrated that silicon particles can be modified to resolve the capacity loss caused by swelling and first-cycle-loss capacity.”

The company had a prefeasibility study underway on a ‘green’ HPA battery materials coating plant in Saxony, Germany.

German firm Küttner GmbH and Co was awarded the engineering contract in February for a pilot plant, designed to produce 120 kilograms of coated anode material per day.

(ASX: M2R)

EMAIL info@miramarresources.com.au WEB www.miramarresources.com.au DIRECTORS Allan Kelly, Marion Bush, Terry Gadenne

(ASX: ATC)

EMAIL info@altechchemicals.com WEB www.altechchemicals.com DIRECTORS Luke Atkins, Iggy Tan, Daniel Tenardi, Peter Bailey, Tunku Yaacob Khyra, Uwe Ahrens, Hansjoerg Plaggemars

35

Emmerson Resources

Gateway Mining

Emmerson Resources is following up on the “stunning” drill results reported in December at its Hermitage project, part of its large land position in the Northern Territory’s Tennant Creek Mineral Field (TCMF).

Results included 117 metres at 3.38 per cent copper and 0.88 grams per tonne gold.

Follow up drilling was announced at the time of writing to test for gold, copper and cobalt, with new assay results confirming the discovery hole had ended in increasing mineralisation, including 2m at 19.77g/t gold and 3.84 per cent copper.

A maiden resource was imminent for Emmerson’s Mauretania discovery at TCMF, where drilling last year returned 3.95m at 57g/t gold, 0.22 per cent bismuth, 20.6g/t silver and 0.23 per cent copper.

Mauretania is part of the company’s joint venture projects with privately-listed TCMG, which has secured a CIL processing plant designed to unlock stranded assets in Tennant Creek.

The Joint Venture includes the Chariot deposit, where the resource was increased by 40 per cent in December to 556,200 tonnes at 7.8g/t gold for 138,800 ounces.

Emmerson has a free-carried, low-risk 6 per cent gold production royalty over all mines including Chariot on the joint venture, managing director Rob Bills said.

The company has further exploration planned for its wholly-owned past-producing Edna Beryl gold mine while in the joint venture area, plans included generating new projects and updating the Golden Forty Mine resource.

Emmerson describes the mineral field as one of Australia’s highestgrade gold and copper fields that has produced more than 5.5 million ounces of gold and 470,000t of copper.

The company also has four early-stage gold-copper projects in New South Wales with strategic alliance partner Duke Exploration.

The Kiola project was recently awarded a $118,000 drilling grant by the NSW government.

Gateway Mining is working to build a substantial gold inventory at its Gidgee gold project in Western Australia’s Murchison.

The company increased the resource base by 87 per cent in 2021 to 449,000 ounces of gold and said there was “more to come”.

Gateway began a major drilling program at Gidgee in March, to expand the recent Julias discovery and Flametree target and further increase the project’s resource.

The 2022 exploration field season was “in full swing” and assay results were expected to be received throughout this quarter.

Earlier reverse circulation drilling results from Julias had included 11m at 2.6 grams per tonne gold from 24m.

“With additional drilling also planned at Kashmir in the first half of the year, we are working towards another resource upgrade for Gidgee in quarter three this year,” managing director Mark Cossom said.

Kashmir is a 2.5km long gold-in-soil anomaly along strike of Horizon Gold’s Howards 204,000oz resource.

Another target is the Monarch anomaly, where rock chips have returned up to 17.8g/t.

Gateway’s drill program is in line with its strategy of growing the Gidgee resource by systematic drilling of targets within a 5km radius of the mineral resources.

Gidgee’s 2021 resource update had included the 67,000 ounce Evermore and 99,000 ounce Achilles North/Airport discoveries, which the company said highlighted the potential for new, shallow discoveries to be made within the target area.

Gidgee is within a 120km radius of six operational gold treatment facilities.

The project is the sole focus of Gateway’s exploration funding and activities.

The company said it maintained an interest in several former projects through a series of farm-outs and joint venture agreements, leaving it exposed to discovery opportunities through leveraged thirdparty expenditure.

EMAIL corporate@emmersonresources.com.au WEB www.emmersonresources.com.au

EMAIL info@gatewaymining.com.au WEB www.gatewaymining.com.au

DIRECTORS Andrew McIlwain, Rob Bills, Dr Allan Trench, Alan Tate

DIRECTORS Mark Cossom, Trent Franklin, Debbie Fullarton, Scott Brown

(ASX: ERM)

emmerson resources

36

(ASX: GML)

Xanadu Mines

Kalamazoo Resources

Xanadu Mines has started the June quarter with a restructured board and leadership team as it progresses its flagship Kharmagtai project in Mongolia into the development phase.

Kharmagtai is now positioned as one of the largest undeveloped porphyry copper resources on the ASX/TSX, Xanadu said, after it increased the project’s resource in December to 1.1 billion tonnes containing 3 million tonnes of copper and 8 million ounces of gold.

The higher-grade core contained 100Mt at 0.8 per cent copperequivalent.

A scoping study was due for release this quarter.

It was aiming to demonstrate Kharmagtai had the attributes required to become a modern, large, long-life, low-cost copper-gold mine, and support the board’s view that Mongolia was a jurisdiction ready to attract the levels of corporate investment required to develop such a project within a competitive timeframe.

Colin Moorhead, who moved from non-executive chairman to executive chairman and managing director, said Xanadu was entering an exciting new phase of its growth.

“As a mining professional with a long history in large porphyry projects, I am excited to be taking this project forward,” he said.

Dr Andrew Stewart moved from CEO to the new role of vice president exploration, to continue exploration for new deposits at both Kharmagtai and Xanadu’s now 100 per cent-owned Red Mountain project in southern Mongolia.

Xanadu said Kharmagtai’s advantages included an inherently low environment, sustainability and governance (ESG) risk in the South Gobi, plus well developed, low complexity infrastructure designed to further develop mining in the region.

“Following announcement of the scoping study results, the Xanadu board will face a gating decision to take Kharmagtai forward into pre-feasibility,” the company said.

“This decision will be made in parallel with funding for the next stage of development.”

Well-supported Kalamazoo Resources became the first carbon-neutral gold and lithium explorer operating in Australia under the federal government’s Climate Active Program earlier this year.

“The rationale for this commitment is that we are focused on minimising the impact of our exploration activities in Victoria and Western Australia,” chairman and CEO Luke Reinehr said.

In the gold space, Kalamazoo recently reported “outstanding” gold recoveries from initial flotation test work at the Mt Olympus deposit at its 1.65 million ounce Ashburton gold project in Western Australia.

Mt Olympus accounts for more than 1Moz at the past-producing project which Kalamazoo acquired from gold major Northern Star Resources in 2020.

“We are extremely pleased with this initial phase of metallurgical test work at Mt Olympus which substantially de-risks the potential development of our Ashburton gold project in the Pilbara,” executive director Paul Adams said.

Also in the Pilbara, drilling is planned for the Sisters gold project, described as along the same shear zone as De Grey Mining’s 6.8Moz Hemi discovery.

On the other side of Australia, Kalamazoo is “exploring for the next major gold deposit in Victoria, close to Fosterville”.

Assets including the past-producing Castlemaine and South Muckleford gold projects.

Meanwhile leading lithium producer Sociedad Química y Minera de Chile (SQM) is earning up to 70 per cent of its DOM’s Hill and Marble Bar lithium projects in the Pilbara by spending $12 million on exploration over four years.

Kalamazoo recently completed a soil geochemistry program at Marble Bar and said it was working towards drilling programs.

It nearly doubled its lithium exploration tenure in the December quarter with the acquisition of the Pear Creek project.

The company counts Eric Sprott and Novo Resources as strategic cornerstone investors.

EMAIL info@xanadumines.com WEB www.xanadumines.com

EMAIL admin@kzr.com.au WEB www.kzr.com.au

DIRECTORS Colin Moorhead, Ganbayar Lkhagvasuren, Michele Muscillo, Tony Pearson

DIRECTORS Luke Reinehr, Angus Middleton, Paul Adams

(ASX: XAM)

(ASX: KZR)

resources

37

Cyprium Metals

Global Lithium Resources

Cyprium Metals delivered a restart study within a year of acquiring the Nifty copper mine in Western Australia and is aiming to be a copper producer “in the shortest timeframe possible”.

Its March study outlined pre-production capital of $149 million, average annual production of 25,000 tonnes of copper cathode and payback in three years.

The restart is focused around the first phase of heap leach retreat and oxide open pit, and it’s envisaged the life will extend to the sulphide stage of the open pit with a considerably larger resource available.

Cyprium is aiming to finalise finance this quarter and start plating copper metal in the second half of 2023.

“The fundamentals of the project are robust, which excludes the addition of an updated mineral resource, to be completed in the coming months, and the conversion of inferred resources during the pit mining,” managing director Barry Cahill said.

Drilling results announced since, at Nifty West below the former open pit, included an intersection showing copper mineralisation extended 92m downhole including 14m at 2.72 per cent copper.

Nifty is one of Cyprium’s Paterson copper projects, the others being the 486,000t Maroochydore project 85km to the southeast, and the Paterson exploration project where miner IGO is funding exploration under a 70 per cent earn-in.

Maroochydore has similar mineralogy to Nifty and Cyprium sees potential synergies with the planned Nifty heap leach strategy.

In the Murchison, Cyprium has an 80 per cent interest in the Cue copper-gold project with the Hollandaire deposit that contains 51,500t of copper, 28,000 ounces of gold and 500,000oz of silver.

It also has the Nanadie Well project, where a maiden resource is anticipated to feed into the Murchison scoping study.

Global Lithium Resources ended the March quarter “moving full steam ahead” at its Marble Bar and the Manna lithium projects in Western Australia.

The company’s attributable resources across both projects comprised 18.4 million tonnes at 1.06 per cent lithium oxide (Li2O).

It entered a 10-year strategic spodumene concentrate offtake agreement, for at least 30 per cent of available product, in March with major shareholder Suzhou TA&A Ultra Clean Technology Co. Suzhou is an associate of the CATL Group, a leading upstream lithium chemical producer and largest producer of EV batteries.

“As Global Lithium continues to advance our significant West Australian lithium portfolio, having the continued support of a world leader like Suzhou TA&A is truly an exceptional vote of confidence in our company, our people and our assets,” non-executive chair Warrick Hazeldine said.

With the lithium market surging, the company noted spodumene concentrate prices had risen more than 700 per cent year-on-year to March.

Global Lithium announced a $30 million placement the same month, attracting diversified Mineral Resources as a cornerstone investor with a 5 per cent interest.

Suzhou was set to maintain its 9.9 per cent stake.

Global Lithium said the proximity of Marble Bar and Manna to existing Mineral Resources joint venture operations — Wodgina in the Pilbara and Mt Marion near Kalgoorlie respectively — presented a range of potential regional synergies.

It has aggressive exploration programs planned for both projects in 2022.

A 60,000m drilling program was underway at Marble Bar, where Global Lithium has also noted emerging gold potential.

East of Kalgoorlie, a 20,000m program was set to begin this quarter at the company’s 80 per cent owned Manna project.

A resource update is expected later this year.

(ASX: CYM)

EMAIL info@cypriummetals.com WEB www.cypriummetals.com DIRECTORS Gary Comb, Barry Cahill, Nicholas Rowley

(ASX: GL1)

EMAIL info@globallithium.com.au WEB www.globallithium.com.au DIRECTORS Warrick Hazeldine, Ron Mitchell, Dianmin Chen, Greg Lilleyman, Hayley Lawrance

38

European Metals Holdings

Lake Resources

European Metals Holdings is fully funded to a final investment decision at Cinovec, described as the largest hard rock lithium resource in Europe and a globally significant tin resource.

The company holds 49 per cent of Cinovec in the Czech Republic in a Joint Venture with dominant power utility CEZ. A definitive feasibility study is underway after “outstanding” results in a January prefeasibility update.

The update boosted the post-tax net present value (8 per cent discount) by 74.9 per cent to US$1.9 billion, using a lithium hydroxide price of $17,000 per tonne, well below the current circa $40,000/t.

The study put annual production of battery-grade lithium hydroxide monohydrate up 16 per cent to 29,386t per annum over 25 years, upfront capital at $644 million and payback at 2.5 years with a post-tax internal rate of return of 36.3 per cent.

“The significant increase in lithium produced will further add to the supply security of the European battery industry,” executive chairman Keith Coughlan said.

“Importantly, even at this increased production rate, the resource is nowhere near fully utilised — paving the way for future assessment of further production increases.

“Cinovec is strategically located in central Europe, near the continent’s vehicle manufacturers.

“With increasing demand for electric vehicles and the expected demands of grid storage capacity, the project is very well placed to supply the European lithium market for many decades.”

Using about 55 per cent of tailings for backfill would add to the project’s already strong ESG credentials, he said.

The company added another institutional fund to its register in a $14.4 million raising last quarter to assist in further development.

It had permitting and optimisation activities in progress, plus “active discussions” in strategic partner/offtake talks.

Clean lithium developer Lake Resources surged into the June quarter after announcing a non-binding memorandum of understanding for offtake and long-term partnership with Japan-based trader Hanwa Co. The proposal covers up to 25,000 tonnes of lithium carbonate per annum for up to 20 years from Lake’s flagship Kachi brine project in Argentina.

Hanwa was considering a “meaningful equity investment” and other support, and the pair also outlined their intent to establish a “clean lithium” supply chain to meet the environmental demands of EV makers and their customers.

A definitive feasibility study is underway on producing 50,000 tonnes per annum at Kachi, double the previously envisaged 25,000tpa.

Lake has letters of interest from the UK and Canadian export credit agencies to fund up to 70 per cent of Kachi’s development costs.

Lake’s technical partner Lilac Solutions recently dispatched a demonstration plant to Kachi, designed to use its “truly disruptive” ion exchange technology for lithium extraction.

Lilac can earn up to 25 per cent of Kachi.

Lake said the direct extraction method delivered a solution for two rising demands — high purity battery materials to avoid performance issues, plus more sustainable, responsibly-sourced materials with a low carbon footprint and significant ESG benefits, including protecting scarce water resources.

Lake is aiming to produce 100,000t of lithium annually by 2030 from its four brine projects in Argentina, according to its Target 100 program announced in February.

It brought forward a US$15 million program at its Olaroz, Cauchari and Paso projects for drilling and brine-testing to fast-track the trio into feasibility studies.

The company raised $39 million in March through an at-the-market subscription agreement with Acuity Capital.

Chairman Stu Crow said the funds would support “a period of rapid expansion and increased activity” at the four projects.

(ASX: EMH)

EMAIL info@europeanmet.com WEB www.europeanmet.com DIRECTORS Keith Coughlan, Richard Pavlik, Kiran Morzaria, Lincoln Bloomfield

(ASX: LKE)

EMAIL hello@lakeresources.com.au WEB www.lakeresources.com.au DIRECTORS Stephen Promnitz, Stuart Crow, Dr Nick Lindsay, Robert Trzebski, Amalia Sáenz

39

Cannon Resources

Matsa Resources

Explorer Cannon Resources began the June quarter by further increasing the nickel resource at its Fisher East project in Western Australia, which also hosts platinum group elements.

Cannon delivered a maiden resource in April for the Sabre deposit of 1.8 million tonnes for 24,500 tonnes of nickel.

This followed a boost to the project’s Musket resource in March — establishing a 44 per cent increase in nickel to 45,500t plus 38,580 ounces PGE. “The PGE number is dominated by palladium, which is a fantastic and welcome outcome as well,” CEO Steve Lynn said of the Musket update.

The new Sabre resource takes Fisher East’s total to 116,300t nickel in the Musket, Camelwood, Cannonball and Sabre deposits.

“Looking at the total nickel inventory so far identified at Fisher East, it is shaping up to be a substantial and significant high-grade Class 1 nickel field with four resources identified to date, all with mineralisation near surface, all expandable and all open at depth,” Lynn said.

He said the company saw “outstanding potential” for resource growth in the sub-300m zone as well as down plunge extension.

The company has an 8,000m drilling program underway at Fisher East, testing prospects including Horatio, diamond drilling at Musket and Sabre and priority PGE anomalies.

The progress marks a busy start for Cannon. Its assets were spun out of Rox Resources and Cannon listed on the ASX in August 2021 after a $6 million IPO. The company raised a further $4 million for exploration in October.

Cannon’s second nickel project is Collurabbie, 65km east of Fisher East.

Collurabbie has a 573,000t resource grading 1.63 per cent nickel, 1.19 per cent copper, 0.082 per cent cobalt, 1.49g/t palladium and 0.85g/t platinum at Olympia.

Matsa Resources recently completed the sale of its Red October and Devon gold projects to Linden Gold Alliance, earning the company $20 million in the process.

Linden Gold is a privately owned gold producer with ASX-listing aspirations established in 2020 operating the Second Fortune underground gold mine, some 14 kilometres south of Red October and the Second Fortune gold project, which is contiguous to the Red October and Devon gold projects.

LGL commenced production from Second Fortune in April 2021 processing ore at St Barbara’s Gwalia processing facility under a toll milling/ore purchase arrangement.

Matsa sees the sale of the Red October and Devon unlocking value for the company with $20 million in the kick enabling it to maintain systematic exploration to build a one million ounce resource at the company’s Lake Carey gold project.

Matsa declared the deal important, adding it supports the company’s belief that a great deal of value exists in the Lake Carey gold project, especially so given it still retains the Fortitude, Fortitude North, Gallant and Bindah projects, as well as a host of other prospects that have yet to be fully drill tested.

Matsa also retains ownership of the Red October village which will provide support infrastructure for ongoing exploration and its proposed future developments.

“The transaction is highly value accretive to Matsa shareholders and will provide non-dilutive funding for Matsa to grow the pro-forma 553,000 ounces gold resource and define new resources at targets such as Fortitude North,” managing director Paul Poli said.

Matsa will retain an indirect interest in the Red October and Devon projects via a 19.6 per cent interest it will hold in the intended ASX listing for Linden Gold Alliance.

(ASX: CNR)

EMAIL admin@cannonres.com.au WEB www.cannonres.com.au DIRECTORS Trevor Benson, Richard Bevan, Alex Passmore

40

(ASX: MAT)

EMAIL reception@matsa.com.au WEB www.matsa.com.au DIRECTORS Paul Poli, Andrew Chapman, Frank Sibbel, Pascal Blampain

Carawine Resources

Middle Island Resources

Perth-based explorer Carawine Resources has a portfolio of copper, gold and base metals assets and is currently focused on targeting “a major new gold camp” at its Tropicana North project in Western Australia.

High-grade results reported in March from the project’s Hercules prospect included 4m at 40.1 grams per tonne gold, including 1m at 137g/t.

“Hercules has delivered, with today’s results including the highest gold grade returned from the prospect to date and increasing the size of the high-grade gold zone, which remains open to the north, south and at depth,” managing director David Boyd said.

“This supports our belief that Hercules is a significant gold discovery.”

The 1,900 square kilometre project — along strike from the Tropicana gold mine — comprises eight exploration licences, three applications and two exploration licences held by Carawine’s 90 per cent-owned Thunderstruck joint venture, which includes the Hercules prospect.

Carawine also has the Fraser Range project in WA and the Jamieson project in Victoria and has up to $16.9 million of exploration funded and managed by partners at joint ventures in WA. IGO is earning up to 70 per cent of the Fraser Range nickel-copper Joint Venture.

Diversified major Rio Tinto can earn up to 80 per cent of the Red Dog project in the West Paterson province.

Fortescue Metals Group can earn 51 per cent of the Coolbro Joint Venture.

And Black Canyon is earning up to 75 per cent of Carawine’s Oakover project in the East Pilbara after reporting a 15 million tonne resource grading 11.3 per cent manganese at Flanagan Bore in the December quarter.

The company attracted a takeover bid earlier this year from QGold but Carawine’s directors recently unanimously recommended shareholders reject the offer.

Middle Island Resources recently completed the sale of its Sandstone gold assets to Aurumin Limited (ASX: AUN).

The deal delivered $12 million to Middle Island payable by way of $6 million in cash, with the balance of $6 million payable in AUN shares (at a notional issue price of 20 cents per share).

The cash component has been fully paid and at time of writing the share component had been partly issued taking MDI’s holding in AUN to 19.9 per cent leaving 9 million shares to be issued, which is anticipated to be finalised by 30 April 2022, or be paid out in cash at 20 cents per share (equating to $1.8 million).

The transaction will improve the Middle Island’s cash position and remove the need to raise funds in the short term.

The company has now shifted its focus to its 100 per cent-owned exciting and highly prospective Barkly copper gold super project in the Northern Territory.

MDI has outlined a drilling program for the 2022 drilling season that will see 20 holes completed with an anticipated average depth of 500m for a total of 10,000m over the eight-month drilling season.

Ground gravity work across the entire project is expected to be completed during Q2 2022 to assist in further target generation.

“Importantly, MDI can now focus solely on properly testing the highly prospective Barkly Copper-Gold Super Project which, frankly, is exceptional,” Middle Island executive director Brad Marwood said.

“We are pleased to retain 100 per cent ownership of the project, despite several approaches from listed peers, especially given the Crosswinds prospect can be tested relatively quickly and cheaply considering the potential size and scale of the project.”

(ASX: CWX)

(ASX: MDI)

EMAIL info@middleisland.com.au WEB www.middleisland.com.au DIRECTORS Peter Thomas, Brad Marwood, Bruce Stewart

EMAIL info@carawine.com.au WEB www.carawine.com.au DIRECTORS Will Burbury, David Boyd, David Archer

Limited ACN 611 352 348

41

Dundas Minerals

Morella Corporation

Dundas Minerals listed on the ASX in November and “hit the ground running” with exploration activity and says it intends to continue the momentum during 2022 and beyond.

The company is exploring for gold and battery minerals in the Albany-Fraser Orogen in Western Australia.

It said both the 2005 Tropicana gold discovery and the 2012 Nova/ Bollinger nickel-copper discovery had resulted in a re-think and ultimate upgrading of the region’s prospectivity.

Dundas has completed a maiden drilling program at its Kokoda gold prospect and Jumbuck nickel prospect and was awaiting assay results at the time of writing.

It was granted another exploration licence at its namesake project in February covering the Terra Firma gold prospect.

In April, preliminary results from a three-line audiomagnetotellurics (AMT) survey at its Matilda South prospect returned low resistivity — equivalent to high conductivity — values.

“The identification of resistivity anomalies at Matilda South is the outcome that we wanted from this AMT survey program — although this was never guaranteed,” managing director Shane Volk said.

“These encouraging results now provide us with distinct areas of focus, as we continue to progress Matilda South towards a maiden drilling program, which we are targeting to commence by mid-year.”

Preliminary AMT survey results from its Central nickel-copper target also showed very low resistivity anomalies.

Dundas has followed up with a soil sampling program.

“As far as we have been able to determine, there has been no previous on-ground exploration conducted at the Central target, or in the surrounding area,” Volk said.

“However, access is excellent as a track was cleared in 2010 for Norseman Gold (tenement holder at the time) for a planned reconnaissance drilling program — but due to financial constraints the program never commenced.”

Morella Corporation is an exploration and resource development company focused on lithium and battery minerals.

Morella is currently conducting exploration activities on two project opportunities, both located in Tier 1 mining jurisdictions in Australia and the USA. The company’s objectives are to secure and develop raw materials to meet rising global demand for battery minerals that will enhance the global transition to green energy.

At time of writing, Morella was preparing the first drilling at its Mallina lithium project in the Pilbara region of Western Australia.

The company had announced receipt of key environment, social and governance (ESG) related workstreams in support of years of previous mapping, study and other drilling in the lead up to its maiden Mallina drilling campaign.

“We have a very targeted drill program seeking to intercept primary pegmatites and we are very excited to get the drill rigs working on site,” Morella Corporation CEO Alex Cheeseman said.

“Further to Mallina, we are also starting early-stage exploration and mapping of the pegmatites at Mt Edon/Mt Edon West, which represents a great opportunity to search for lithium in the Murchison area.”

In the USA, Morella completed Phase 1 of a Passive Seismic Survey (PSS) on the Fish Lake Valley lithium project in Nevada.

“The information we have obtained from the first phase of geophysical survey at Fish Lake Valley will provide us with a far greater understanding of the depth potential of this project,” Cheeseman said.

“The fact that we were able to get work underway on-site last year, so soon after formulation of our agreement with partner Lithium Corporation is an excellent outcome for the company and sets us up well to continue to develop the project in 2022.”

(ASX: DUN)

EMAIL admin@dundasminerals.com WEB www.dundasminerals.com DIRECTORS Mark Chadwick, Shane Volk, Tim Hronsky

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(ASX: 1MC)

EMAIL info@morellacorp.com WEB www.morellacorp.com DIRECTORS James Brown, Allan Buckler, BT Kuan, Dennis O’Neill

Bulletin Resources

Bastion Minerals

Bulletin Resources’ Ravensthorpe project in Western Australia overlies the Annabelle volcanic sequence and pegmatites which also host the Mt Cattlin lithium mine and processing plant, 12 kilometres to the east.

Two pegmatite trends are apparent within the host rock Annabelle Volcanics, the same rocks that host the Mt Cattlin lithium pegmatites.

Previous rock chips of outcropping spodumene and amblygonite have returned grades up to 8.21 per cent lithium oxide (Li2O) over a 4km trend along the Eastern pegmatite trend that remains open to the north.

Mapping of the Eastern Pegmatite Trend has located approx. 100 pegmatite outcrops to date.

Recent laboratory assay results from a mapping and rock-chip program undertaken on the company’s Ravensthorpe lithium project confirmed the high lithium grade nature of two newly identified outcropping and lag spodumene occurrences along the Eastern Pegmatite Trend.

Two rock chip samples of spodumene in pegmatite lag 800 metres to the north of the project’s Big pegmatite spodumene discovery returned high lithium grades of: » 7.04 per cent lithium oxide (Li2O); and » 1.49 per cent Li2O Spodumene bearing pegmatite outcrop located 700m southwest of the previously reported spodumene in lag found at Big pegmatite was also sampled.

These two rock chip samples returned high lithium grades of: » 6.8 per cent Li2O; and » 2.17 per cent Li2O “These two new finds of spodumene lithium mineralisation some distance from Big pegmatite complement the known spodumene occurrences at Big, Deep Purple and Creek pegmatites,” Bulletin Resources said.

“These additional finds of spodumene bearing pegmatite outcrops support and significantly increase the lithium prospectivity of the broader Eastern Pegmatite Trend.

“The recent mapping campaign continues to raise the prospectivity of this underexplored area.”

Bastion Minerals holds a portfolio consisting of three early-stage exploration projects the company considers prospective for gold, copper, and silver in the copper-gold mining jurisdiction of Chile.

The Capote gold project, Cometa copper project, and Garin silver project all sit close to major mining operations and extensive outcropping vein systems with shallow historical workings.

Most recent activity has been carried out on the Capote project where rock-chips have highlighted the multicommodity potential of the Capote District, demonstrating potential for not only high-grade gold deposits, but iron oxide copper-gold (IOCG) deposits.

A collection of Forty-five rock-chip samples were taken during detailed mapping exercises that were undertaken with the aim of understanding the size and orientation of mineralised veins at surface.

The average gold grade of the 45 samples was one gram per tonne with a maximum of 22.9g/t gold returned.

The average copper value of these samples was 0.36 per cent copper with a maximum of 2.75 per cent copper.

“These new rock-chips provide a significant reminder of the grade potential of the Capote System,” Bastion Minerals executive chairman Ross Landles said.

“While high-grade gold is our primary focus, copper-gold results add multi-commodity blue sky to the project.

“We are very pleased to be counting down the days until the final government approval is completed and will drill immediately following.”

At time of writing, Bastion had final preparation stages for a maiden drilling program that will hope to expand gold mineralisation around the known historical deposits at Yayito and Resurgimiento veins and test new greenfield target areas.

An approximately 5,000-metre diamond drilling program will focus on testing the shallow surface expression of multiple vein systems where high-grade gold was returned from the recent rock-chip campaigns.

(ASX: BNR)

EMAIL admin@bulletinresources.com WEB www.bulletinresources.com

(ASX: BMO)

EMAIL info@bastionminerals.com WEB www.bastionminerals.com DIRECTORS Ross Landles, Andrew Stewart, Sam El-Rahim, David Nolan

DIRECTORS Paul Poli, Mark Csar, Robert Martin, Daniel Prior, Neville Bassett

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Rincon Resources

Alvo Minerals

Copper and gold explorer Rincon Resources has three projects in Western Australia and is focused on its South Telfer copper-gold project in the Paterson Province.

Rincon’s strategy is to acquire highly prospective projects near existing or prospective mining operations and apply extensive geological experience and technology to discover and grow commercial mineral deposits.

Its flagship South Telfer project is southeast of Newcrest Mining’s Telfer mine.

Highlights from maiden drilling in the December quarter at South Telfer included 42m at 1.17 grams per tonne gold and 0.26 per cent copper from surface, including 12m at 2.53g/t gold at the Hasties prospect.

A 5,000m phase two drilling program was underway at the time of writing.

Rincon said the new Frenchman’s prospect was emerging as it reported initial results from phase two in February, adding the five holes along strike from the Hasties Main Zone were inconclusive at this stage.

The first hole at Frenchman’s included 5m at 1.74g/t gold from 118m and a mineralised zone of 4m at 0.91g/t gold and 0.12 per cent copper from 107m.

“Having only tested it with a single drill hole, we will now look to add further holes to assess the strike and depth potential as soon as possible,” managing director Gary Harvey said.

A diamond drill hole was planned for the Hasties Deeps target thanks to co-funding from the state government’s exploration incentive scheme.

At Kiwikurra in the West Arunta Province, Rincon has up to 3,000m of drilling planned for the second half of this year to test iron-oxide-copper-gold targets at the Pokali prospect.

Rincon is assessing farm-out opportunities for its third asset, the Laverton gold project, where drilling results in 2021 included 13m at 0.3g/t gold.

Alvo Minerals is a base and precious metals exploration company, sharpening its focus on the company’s Palma project, located in Central Brazil.

The Palma project has a JORC 2012 Inferred Mineral Resource Estimate (MRE) of 4.6 million tonnes at 1 per cent copper, 3.9 per cent zinc, 0.4 per cent lead and 20 grams per tonne silver.

The two main targets within the Palma Project are the C1 and C3 advanced prospects.

Alvo has previously reported an Inferred MRE for the C1 prospect of 1.8 million tonnes at 0.8 per cent copper, 3.2 per cent zinc, 0.4 per cent lead and 15g/t silver.

Since listing in October 2021, Alvo has been busy drilling with latest news emanating from the C3 prospect.

Drilling at C3 confirmed historical results, providing Alvo with a clearer understanding of the mineralisation style, from which the company is forming a belief that mineralisation can be substantially expanded.

Encouraging results from a FLEM survey at C1 that identified conductive plates, led Alvo to undertake both FLEM and DHEM surveys at C3, which it expects to deliver further target extensions for future drilling.

“In the meantime, both diamond drill rigs have moved to C1, and the first completed hole has intersected a broad zone of massive and semi-massive sulphides,” Alvo Minerals managing director Rob Smakman said.

“There is a distinct difference in mineralisation styles already noted by our geologists, as C1 has a lot less unmineralised pyrrhotite.

“We will be more aggressive with drilling at C1 and drill the extensions defined from the earlier FLEM survey.

“We are extremely excited to test the southern plates during this drill program, in what could be a new discovery for the Palma project.”

EMAIL info@rinconresources.com.au WEB www.rinconresources.com.au

DIRECTORS Graeme Slattery, Rob Smakman, Beau Nicholls

(ASX: RCR)

DIRECTORS Blair Sergeant, Gary Harvey, Caroline Keats

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(ASX: ALV)

EMAIL info@alvo.com.au WEB www.alvo.com.au

Astral Resources

Magmatic Resources

Astral Resources is focused on advancing its Mandilla gold project just south of Kalgoorlie in Western Australia.

Astral’s coffers are set to receive a boost thanks to a $6 million deal to divest its remaining 25 per cent stake in the Koongie Park Joint Venture near Halls Creek, along with the gold and platinum group elements rights.

“With the company well‐funded, drilling about to re‐commence at Mandilla and core samples from last year’s diamond drilling currently being processed through the laboratory, we are looking forward to delivering further resource growth in the short‐term and beyond,” managing director Marc Ducler said in April.

Astral’s third successive resource update within eight months, announced in January, took Mandilla’s resource to 24 million tonnes at 1 gram per tonne gold.

“Mandilla has now grown to a significant scale of 784,000 ounces and, when combined with 116,000oz of contained gold at Feysville for a total of 900,000oz, indicates genuine potential for the development of a new operational hub near Kalgoorlie,” Ducler said.

Astral’s Feysville project is 20km from Kalgoorlie.

The company has pointed to further discovery potential at Mandilla, reporting a gold anomalism southeast of the new Eos deposit with first-pass results including 28m at 1.38g/t gold from 46m.

“In addition to this new discovery zone, we are also seeing gold anomalism across several lines of air‐core up to 900m north of the main Theia deposit,” Ducler said.

“The significance of air‐core results such as this is the similarity in grade and width to historic air‐core drilling which eventually led to the discovery of the 658,000 ounce Theia deposit.”

Elsewhere, Astral sold two exploration tenements near Leonora in January and has gold rights at the Carnilya Hill project.

Magmatic Resources holds a healthy portfolio of gold and copper exploration plays in New South Wales.

For brevity, here we will concentrate on the 100 per cent-owned Wellington North project that covers the northern extension of the Molong Volcanic Belt, north of Australia’s largest gold producer at Newcrest’s Cadia East operations.

The Wellington North project comprises three exploration licences and is considered by Magmatic to be highly prospective for gold-copper porphyry, epithermal gold and lode-style gold mineralisation.

The Wellington North licences effectively surround the recent Boda gold-copper discovery of Alkane Resources, of these, the Bodangora licence is just southwest from the Boda discovery, encompassing the historic Bodangora Goldfield, where high-grade gold mining took place recording production of 230,000 ounces at 26 grams per tonne gold between 1869-1917.

Magmatic recently completed an initial eight hole diamond program at the Mitchells Creek mine in the Bodangora Goldfield to test for extensions to high-grade gold mineralisation historically produced at the mine.

Results included: » 21BNDD018 0.57 metres at 14.3 grams per tonne gold, 22g/t silver and 1.1 per cent copper from 265.6m; » 21BNDD014 0.4m at 4.3g/t gold, 2g/t silver from 139m; » 21BNDD019 0.65m at 1.5g/t gold, 6g/t silver and 0.2 per cent copper from 278.5m; and » 21BNDD021 0.38m at 1g/t gold, 8g/t silver and 0.1 per cent copper from 175m.

Gold mineralisation was intercepted in six of the eight holes drilled with intercepts showing variable elevations in silver, copper and tellurium, which was interpreted by Magmatic to indicate a potential distal relationship with the nearby Boda discovery and other porphyry gold-copper prospects in the Wellington North project area.

A next stage of diamond drilling was, at time of writing, firing up at the Dick’s Reward workings to the west.

(ASX: AAR)

WEB

www.astralresources.com.au

DIRECTORS Leigh Warnick, Marc Ducler, Peter Stern, David Varcoe, Justin Osborne

(ASX: MAG)

EMAIL info@magmaticresources.com WEB www.magmaticresoources.com DIRECTORS David Richardson, Peter Duerden, David Berrie

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Mamba Exploration (ASX: M24)

Mamba Exploration has assembled a diverse portfolio of exploration projects in Western Australia, over which it is sharpening its focus on the exploration for nickel, copper and gold.

All projects call the Darling Range east of Perth home, sitting in the northern Gascoyne/southern Ashburton, Kimberly and Great Southern regions of WA. Mamba has aimed its initial exploration focus predominately on nickel, copper and gold in the established mineral districts which the following projects are located. » Darling Range project: nickel, copper and PGE; » Calyerup Creek: gold; » Ashburton: gold and base metals; » Kimberly (Speewah East, Copper Flats and Ruby Plains): nickel, copper, cobalt, silver and gold.

Mamba’s recent attentions have been given to permitting activities at the Darling Range project, northeast of Perth, and the Calyerup Creek project in the Great Southern region.

These were followed by RC drilling on the two projects as well as geochemical sampling of the Ashburton gold project and initial field investigations on the Kimberley projects, primarily focused on the Copper Flats area.

The initial drilling of the Calyerup Creek project prove most encouraging with 20 of the 22 initial holes drilled encountering mineralisation.

“This is an outstanding result given we are testing a soil anomaly and suggests that the mineralised system is far more extensive than first anticipated,” Mamba Exploration managing director Mike Dunbar said.

Mamba’s drilling efforts have extended the known mineralisation at Calyerup Creek for over 350m east-to-west and remains open in all directions.

“Importantly we are still just ‘scouting out’ the lateral extent of the mineralisation with all the drilling within the top 40 metres of surface,” Dunbar continued.

“No deep drilling is planned until we have confirmed the strike extent of the mineralisation.”

EMAIL info@mambaexploration.com.au WEB www.mambaexploration.com.au DIRECTORS Mike Dunbar, Justin Boylson, Simon Andrew

19, 20 & 21 October 2022 Abbey Beach Resort Busselton, WA

The relaxed nature of this event, along with a strong & diverse programme line-up provides the perfect environment for company executives from a range of ASX listed companies to present their stories to investors & brokers from all over Australia, keen to open up potential new investment opportunities.

Not from WA? Why not take advantage of Jetstar’s new direct flight service between Melbourne & WA’s spectacular Busselton/Margaret River region.

Details coming soon.

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www.southwestconnect.com.au

Alchemy Resources

Cooper Metals

Alchemy Resources’ Karonie project, located just outside of Kalgoorlie, is just one in a portfolio of gold and base metals projects in Western Australia and New South Wales.

The Karonie project comprises four applications and ten granted exploration licences covering over 1,200 square kilometres of highly prospective Archaean greenstones in the Eastern Goldfields of WA. The project surrounds Silver Lake Resources’ Aldiss Mine and is along strike to the south of Breaker Resources’ Bombora deposit.

Earlier this year, Alchemy released assay results from aircore drilling carried out at the Karonie East target within the company’s Karonie project.

At the time, Alchemy Resources declared the results to have outlined a large north-south trending geochemical anomaly.

Final assays received for the Karonie East drill program outlined two large systems of anomalous gold mineralisation along the Karonie East corridor.

The two new zones of gold anomalism have strike length of 950 metres and 4,300m, returning results that include: » KEAC009 2 metres at 2.7 grams per tonne gold from 48m, including 1m at 3.99g/t gold from 48m, and 1m at 1.41g/t gold from 49m; » KEAC045 2m at 3.79g/t gold from 84m, including 1m at 5.24g/t gold from 84m, and 1m at 2.34g/t gold from 85m; and » KEAC075 4m at 1.59g/t gold from 20m.

“The drill program has intersected numerous zones of mineralisation close to areas that were previously drilled on wide spaced RAB lines which failed to penetrate the near surface cover,” Alchemy Resources chief executive officer James Wilson said.

“Importantly with our recent drilling, the new mineralised intercepts were logged in saprolite, so we haven’t tested the primary bedrock zone of mineralisation from these areas.

“This will be a key target in follow-up drilling later this quarter.”

Cooper Metals recently expanded its exploration ground in Queensland after inking a Heads of Agreement to acquire 100 per cent of EPM27537.

The new tenement is within the highly prospective Mt Isa Inlier adjacent to the company’s EPM27700, which holds its Python and King Solomon copper-gold prospects.

Cooper Metals approach appears straight forward, give EPM27537 is within the Mary Kathleen Domain, a part of the Mt Isa Inlier highly prospective for cooper-gold mineralisation such as Round Oak Mineral’s Barbara deposit and Carnaby Resources’ copper-gold discoveries at the Nil Desperandum and Lady Fanny prospects.

The company sees the acquisition to be consistent with its strategy to explore and discover copper-gold deposits in the Mt Isa Inlier.

“Cooper firmly believes the tenement geology has all the right attributes to host copper-gold mineralisation,” Cooper Metals managing director Ian Warland said.

“The tenure is close to existing infrastructure, with potential for third party processing options.

“Cooper is rapidly building exploration momentum in the project area with a planned regional airborne electromagnetic survey and RC drilling at Python and King Solomon prospects scheduled for the June Quarter.”

Cooper’s exploration portfolio is rounded out with the Yamarna gold project and the Gooroo project: both in WA. The Yamarna project sits along strike from Gold Road Resources’ Gruyere gold deposit with an extensive length of untested Dorothy Hills Shear Zone: an important factor in the formation of the Gruyere deposit.

The Gooroo copper and/or gold project covers newly identified greenstone belt near Silver Lake Resources’ Deflector mine.

The 26km expanse of covered greenstone belt has had almost no exploration and was only added to government geology maps in 2020 after reinterpretation of geophysical data.

(ASX: ALY)

EMAIL admin@alchemyresources.com.au WEB www.alchemyresources.com.au DIRECTORS Lindsay Dudfield, James Wilson, Liza Carpene, Anthony Ho

(ASX: CPM)

EMAIL enquiries@coopermetals.com.au WEB www.coopermetals.com.au DIRECTORS Michael Frayne, Ian Warland, Tim Armstrong

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Strickland Metals

ABx Group

Strickland Metals hit the ground hard this year, commencing the maiden exploration project at the company’s Millrose gold project located on the Yandal Greenstone Belt in Western Australia.

Millrose covers nine exploration licenses and one mining lease application covering over 600 square kilometres tenement holding adjacent to Strickland’s Yandal East project.

Millrose is located on the southernmost portion of Strickland’s tenement package over the northeast flank of the Yandal Belt, approximately 30 kilometres due east of Northern Star’s Jundee operation, and approximately 20km northeast of that company’s Ramone open pit project.

Strickland considers Millrose, with its high-grade gold mineralisation open in virtually every direction, as the chief asset and number one priority at the Yandal gold project.

Strickland is drilling at Millrose with anticipation of bringing more of the known mineralisation into an expanded Mineral Resource as the company is of the opinion that proximal exploration is also likely to yield the discovery of further gold mineralisation.

The Millrose gold deposit currently hosts a JORC Code-compliant Mineral Resource of 6 million tonnes at 1.8 grams per tonne gold for 346,000 ounces contained gold.

The reported resource forms part of a large, mineralised zone that Strickland has, to date, defined by RC, aircore and limited diamond drilling over a strike length of at least 2km.

The gold mineralisation remains totally open along strike and at depth while the trend is well defined and traceable in the available geophysical datasets and limited AC drilling.

The resource currently consists of a northern and southern zone with the ‘gap’ in between only defined by aircore drilling that was not included in the resource estimation.

Strickland is targeting an updated mineral resource towards the end of 2022.

ABx Group is an emerging hi-technology and explorer-developer company with a claim to fame of being the first company to discover clay-hosted REE in northern Tasmania.

The company’s first discovery came at the Deep Leads project in February, followed by the Wind Break, 16 kilometres, northeast of Deep Leads, and Portrush, 52km east of Deep Leads, projects, both announced later in February.

Abx claims its latest discovery at Rubble Mound confirms that it has at least four REE discoveries, with initial drilling results from Rubble Mound having identified similar REE mineralisation to that of the main REE discovery at Deep Leads, which Abx has interpreted to suggest a 6km long line of lode targets exists between Deep Leads and the new Rubble Mound discovery.

“Our new EL10/2021 secures the gap between Deep Leads and Rubble Mound which significantly increases the potential size of REE resources,” ABx CEO Mark Cooksey said.

The company opinion is that Deep Leads REE mineralisation could connect to Rubble Mound, leading its exploration team to be assembling a bulk sample for metallurgical testwork to learn more about the potential to produce a saleable REE concentrate using simple leaching processes.

Deep Leads REE mineralisation extends over a 3.5km heading towards Rubble Mound on the newly granted tenement EL10/2021, allowing ABx to explore the line of lode which occurs in recently harvested hardwood plantations.

This all comes at a time when prices of super-magnet rare earth elements are rising strongly due to a shortage of supply and aggressive buying by major consumers and governments.

China currently controls 86 per cent of global REE supply but is not expanding production at the same rate that demand for the critical REEs has risen.

(ASX: STK)

EMAIL info@stricklandmetals.com.au WEB www.stricklandmetals.com.au DIRECTORS Anthony McClure, Mark Cossom, David Morgan, Trent Franklin

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(ASX: ABX)

EMAIL corporate@abxgroup.com.au WEB www.abxgroup.com.au DIRECTORS Dr Mark Cooksey, Ian Levy, Paul Lennon, Ken Boundy

Meeka Gold

S2 Resources

Meeka Gold completed a program of aircore drilling at its Circle Valley project that defined new gold zones and favourable horizons for REE mineralisation.

The Circle Valley gold project sits in the Albany-Fraser Mobile Belt of Western Australia that hosts the Tropicana gold mine.

Gold mineralisation has been identified in two separate locations at Circle Valley, which Meeka considers a greenfield exploration opportunity.

The drilling encountered two new zones of regolith gold coincident with a magnetic feature that extends to the Fenceline prospect 5.5km to the east, providing an exploration target for follow up lines of aircore drilling planned for the second half of the year.

Meeka also completed a more focussed drilling program at Anomaly A that defined mineralisation to the east and west of an RC drill hole completed in January.

Meeka commenced a program of deeper RC drill holes at Anomaly A to test the interpreted shear zone below these aircore results.

“These results are very exciting for the team as we are beginning to understand the geology and the various styles of mineralisation, both gold and REE, that exist at Circle Valley,” Meeka Gold CEO Tim Davidson said “The two new gold zones identified in the north of the tenure are significant in both width of anomalism and strike potential.

“Both are located on the same shear zone as the Fenceline prospect 5.5km to the east where gold mineralisation has also been intersected in aircore drilling.”

Meeka’s main project is the Murchison gold project, also in WA, that hosts a high-grade 1.1 million ounces Mineral Resource.

The company released the Murchison gold project Scoping Study in December 2021 outlining robust production of over 420,000 ounces of gold.

S2 Resources has been concentrating on its domestic front of late, conducting a maiden drilling program at the company’s 100 per centowned West Murchison project in Western Australia.

The company recently announced intercepted disseminated sulphides from seven reverse circulation (RC) holes completed to time of writing, part of a co-funded drilling program under the WA Department of Mines, Industry Regulation and Safety (DMIRS) sponsored Exploration Incentive Scheme (EIS).

This drilling intersected a thick sequence of mafic-ultramafic rocks, comprising intermixed serpentinites (olivine rich cumulate ultramafics), tremolite-chlorite schists (potentially after pyroxenite) and mafic amphibolites (potentially after gabbro) that S2 interpreted to represent components of an intrusive magmatic complex and confirm its targeting methodology.

The northernmost drill hole, SWMC007, intersected two zones of disseminated sulphides (approximately 5% of the rock mass) between 61-64m and 68–71m downhole.

Handheld XRF readings noted the presence of elevated nickel (0.2% to 0.76%) and copper (0.3% to 1.18%) within these intervals.

The company said the sulphides appear to be associated with a discrete mafic magmatic phase located just above a more ultramafic phase of magma now represented by serpentinite.

S2 had designed the drilling program to follow up on a previously defined semi-coincident nickel copper, platinum-palladium and gold soil geochemical anomaly “West Murchison represents a conceptual greenfields project considered prospective for intrusive magmatic style nickel-copper-PGE mineralisation,” S2 Resources CEO Matthew Keane said “Confirmation that previously identified magnetic anomalies are associated with intrusive mafic-ultramafic geology, coupled with the presence of nickel-copper bearing sulphides, goes a long way towards proving S2’s targeting model for the region.”

(ASX: MEK)

EMAIL info@meekagold.com.au WEB www.meekagold.com.au DIRECTORS Tim Davidson, Tim Moore, Morgan Barron, Roger Steinepreis, Paul Adams

(ASX: S2R)

EMAIL admin@s2resources.com.au WEB www.s2resources.com.au DIRECTORS Mark Bennett, Jeff Dowling, Anna Neuling, Matthew Keane

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Aruma Resources

Eagle Mountain Mining

Aruma Resources recently claimed a new high-grade gold discovery at the company’s Salmon Gums gold project, near Norseman in the Eastern Goldfields region of Western Australia.

Aruma Resources reported confirmation of the new discovery via a maiden wide-spaced reverse circulation (RC) drilling program at Salmon Gums that intersected high-grade gold results, including: » SGRC39 5m at 50.2 grams per tonne gold from 42m in hole, including 3m at 83g/t gold from 42m and 1m at 224g/t gold from 44m; and » SCRC33 4m at 4.26g/t gold from 105m (EOH) in hole, including 1m at 13.35g/t gold from 108m.

The Salmon Gums drilling entailed 72 wide-spaced holes across an interpreted strike length of 20km.

The program encountered quartz vein gold and lode style gold, resulting in the new high-grade gold discovery, which Aruma said was consistent with its sediment-hosted gold exploration model.

“These bonanza and high-grade gold intersections clearly demonstrate the Salmon Gums project’s potential to host multiple high-grade gold quartz vein and lode style orebodies similar to the high-grade Norseman and Scotia deposits, situated directly along strike in the same stratigraphy,” Aruma Resources managing director Peter Schwann said.

“That we have been able to define this discovery in our very first phase of what was a wide-spaced drilling program at Salmon Gums is testament to the company’s sediment-hosted gold model and the prospectivity of the project area, and it highlights the further upside potential to be derived from our next phase of drilling.”

Aruma indicated its next phase of drilling at Salmon Gums would be planned upon receipt and interpretation of assays from the remaining 12 holes in the first-phase program, and detailed magnetics on selected areas.

Eagle Mountain Mining is well-funded to continue exploration at the company’s Oracle Ridge copper mine in Arizona, USA after completing a raising of $16 million by issuing of approximately 35.5 shares at 45 cents per share.

The raising will allow Eagle Mountain to expand and upgrade the high-grade mineral resources at Oracle Ridge while setting course for a preliminary feasibility study to commence in 2023.

As part of the company’s development pathway, it is refurbishing the underground mine to improve drilling efficiency and allow for the potential development of an exploration drive that could later be used as an access for mining purposes.

The raising followed the announcement of an updated Mineral Resource Estimate for Oracle Ridge that came in with a 39 per cent increase in Resources tonnes of 7 million tonnes at 1.48 per cent copper, 15.09 grams per tonne silver and 0.17g/t gold for 251,000 tonnes of contained copper, 8.2 million ounces of silver and 93,000 ounces of gold.

The estimate also contained Eagle Mountain’s first Measured category estimate of 2.1 million tonnes at 1.54 per cent copper, 15.84g/t silver, 0.22g/t gold for 33,000 ounces copper, 1.093 mliion ounces silver and 15,000 ounces of gold.

More infill drilling will be undertaken with the aim to further increase the size of the Measured and Indicated Resource.

The company’s plans for 2022 include to keep building and upgrading Resources to provide a critical mass to underpin future feasibility studies.

The company will also be drilling other prospective targets, including OREX and Golden Eagle which it considers having potential to add further tonnes to the overall project with its next planned MRE update anticipated in late 2022.

EMAIL info@arumaresources.com WEB www.arumaresoources.comau

DIRECTORS Rick Crabb, Charles Bass, Tim Mason, Roger Port

(ASX: AAJ)

DIRECTORS Paul Boyatzis, Peter Schwann, Mark Elliot

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(ASX: EM2)

EMAIL info@eaglemountain.com WEB www.eaglemountain.com

Okapi Resources

Aura Energy

Okapi Resources has a portfolio of diverse domestic and international projects, one of which is the Tallahassee uranium project in central Colorado, USA. The Tallahassee uranium project currently comprises leases over two private properties (the Taylor and Boyer ranches) that provide a 100 per cent interest in approximately 7,400 acres that encompass the Boyer, Noah and Northwest Taylor uranium deposits.

Okapi Resources recently entered a binding agreement to acquire an option over a 51 per cent interest in the Hansen uranium project, also in Colorado, USA. The Hansen uranium deposit is located immediately south of, and adjacent to, the company’s 100 per cent-owned Taylor and Boyer uranium deposits and comprises two deposits known as the Hansen and Picnic Tree uranium deposits.

The Hansen and Picnic Tree Uranium Deposit contains a combined JORC (2012) Mineral Resource of 22.2 million pounds uranium at 610 ppm uranium (100% of which is attributable to Okapi via its 51% mineral interest).

The addition brings Okapi’s updated JORC (2012) Mineral Resource for the Tallahassee uranium project to 42 million tonnes at 540ppm for 49.8 million pounds of uranium, representing an 81 per cent increase to the size and an increase of 10 per cent to the grade of Okapi’s existing JORC (2012) Mineral Resource.

“By securing this strategic 51 per cent interest in the Hansen uranium project, we now have sufficient resource inventory to advance the Tallahassee uranium project as a stand-alone asset,” Okapi Resources managing director Andrew Ferrier said.

“Recent geopolitical events have put increased focus on the importance of the US revitalising its domestically sourced uranium, which will undoubtably place a significant premium on US uranium assets such as Hansen.”

Aura Energy is focused on the development of the company’s low capex, low operating cost Tiris uranium project in Mauritania.

The company received a boost to this end in the shape of an $8 million raising, via an oversubscribed share placement to institutional, sophisticated and professional investors at an issue price of 25 cents per share.

Leading up to the raising, Aura Energy had announced the addition of vanadium to the project’s Minerals Resources Estimate, taking the global MRE for the Tiris project to 102.1 million tonnes at 253 grams per tonne uranium, 82g/t vanadium for 56.9 million pounds uranium and 18.4Mlb vanadium.

Aura Energy sees the uranium market being strong, one reason it considers contributing to this is the emerging global understanding of the role nuclear energy can play in the energy mix of a Net Zero Emission world.

The company believes the lack of primary supply in the uranium market should continue to underpin a strengthening position for near term development projects, such the Tiris project.

Aura views the inclusion of vanadium in the project’s MRE as an opportunity to explore further operating cost reductions through addition of vanadium pentoxide as a by-product to uranium.

“The remainder of this year will see Aura rapidly progress the…Tiris uranium project,” Aura Energy acting CEO Dr Will Goodall said.

“We plan to enhance and expand the Tiris resource, finalise regulatory discussions with the Mauritanian government, progress marketing and financing conversations and take engineering to a point where we can move into procurement and construction through 2023.

“We are excited by the journey and look forward to bringing the Tiris project to a stage where we are producing uranium, supporting the global push to minimise carbon emissions.”

(ASX: OKR)

EMAIL info@okapiresources.com WEB www.okapiresources.comau DIRECTORS Brian Hill, Andrew Ferrier, Benjamin Vallerine, Leonard Math

(ASX: AEE)

EMAIL info@auraenergy.com.au WEB www.auraenergy.com.au DIRECTORS Phil Mitchell, Warren Mundine, Bryan Dixon, Peter Reeve, Dr Will Goodall

51

Black Cat Syndicate

Siren Gold

Black Cat Syndicate’s Kal East gold project comprises prospective tenements to the east of Kalgoorlie in Western Australia.

Kal East contains a combined JORC 2012 Mineral Resource of 18.8 million tonnes at 2.1 grams per tonne gold for approx. 1.3 million ounces of gold spread across the Myhree, Majestic, Fingals and Trojan Mining Centres.

The Myhree Mining Centre is located in the Bulong Region, 25km East of Kalgoorlie at the southern end of the Kurnalpi Terrane on the Western side of the Bulong Anticline.

The area has had little modern exploration and incorporates the Myhree, Trump, Boundary and Strathfield deposits.

Current Resources are 2.9 million tonnes at 2.8g/t gold for 259,000 ounces.

The Fingals Mining Centre is located east of Kalgoorlie, and southwest of the Majestic Mining area, at the southern end of the Kurnalpi Terrane, on the western limb of the regional Bulong Anticline.

The main deposits within the area include Fingals Fortune and Fingals East.

Current Resources are 3.7 million tonnes at 1.9g/t gold for 222,000 ounces.

The Majestic Mining Centre is located 50km east of Kalgoorlie, at the southern end of the Kurnalpi Terrane on the western limb of the Bulong Anticline.

The main deposits of Imperial and Majestic were discovered in the early 2010s.

Current Resources are 7.3 million tonnes at 2g/t gold for 472,000, including a higher-grade underground Resource of 1.1 million tonnes at 5.2g/t gold for 184,000 ounces.

The Trojan Mining Centre is located at the southern end of the Kurnalpi Terrane on the eastern limb of the Bulong Anticline (the Majestic Mining Centre is on the western limb, 10km to the west).

Current Resources are 2.1 million tonnes at 1.7g/t gold for 115,000 ounces.

Siren Gold holds approximately 850 square kilometres of tenements in the high-grade Reefton Goldfield on the South Island of New Zealand.

The Reefton Goldfield historically produced more than 2 million ounces of gold at around 16 grams per tonne from 84 mines dotted over the landscape.

The historical production on the Siren Gold tenements measured some 268,000 ounces at greater than 25g/t.

Siren Gold sees a correlation and similarities between exploration sites on the company’s Reefton project in New Zealand and Fosterville in the Victorian Goldfields.

The company cites two distinctive sub-types of orogenic gold mineralisation in Victoria in its comparison.

The deeper (6-12kms) mesothermal deposits that formed almost all the important gold deposits in the Bendigo and Stawell zones and the shallower epizonal gold deposits in the Melbourne zone and eastern Bendigo zone, including Fosterville.

Siren Gold has determined that gold mineralisation at Reefton also occurred in two distinct events, with the first stage comprising gold mineralised quartz veins and a second characterised by quartz, stibnite, arsenopyrite, pyrite and gold.

“There had been only a limited amount of exploration drilling conducted historically over the entire approx. 40 kilometres long Reefton Goldfield in more than 70 years,” Siren Gold managing director Brian Rodan said.

“By the end of World War 2, approx. 100 historical gold mines that operated on the Reefton goldfield had closed either due to a low gold price, lack of manpower or technical issues.

“The Blackwater mine closed in 1951 when the service shaft collapsed, and the mine flooded.

“The Reefton area has historically produced more than 10 million ounces of gold from high-grade gold quartz reefs and alluvial mining.

“Alluvial gold mining operations continue to operate on the West Coast today.”

EMAIL admin@blackcatsyndicate.com.au WEB www.blackcatsyndicate.com.au

EMAIL admin@sirengold.com.au WEB www.sirengold.com.au

DIRECTORS Paul Chapman, Gareth Solly, Philip Crutchfield, Les Davis, Tony Polglase

DIRECTORS Brian Rodan, Paul Angus, Keith Murray

(ASX: BC8)

52

(ASX: SNG)

Great Boulder Resources

Alderan Resources

Great Boulder Resources’ core focus is advancing the company’s Whiteheads and Side Well gold projects while progressing initial exploration at the earlier stage Wellington base metal project, all in Western Australia.

In March, Great Boulder reported receipt of all remaining assays for Phase 5 reverse circulation (RC) and Phase 5 air-core (AC) drilling completed last year on the Mulga Bill corridor at the Side Well gold project near Meekatharra.

RC drilling returned: » 21MBRC076 1 metre at 97.97 grams per tonne gold from 117m; and » 21MBRC065 25m at 1.85g/t gold from 84m, including 1m at 25.78g/t gold from 108m; AC drilling returned: » 21SWAC147 3m at 6.69g/t gold from 45m; and » 21SWAC149 8m at 1.79g/t gold from 80m, including 4m at 3g/t gold from 80m.

Great Boulder also received initial results from a 148-hole AC drill program completed in early March 2022 entailing 25 holes exploring further south on the Mulga Bill corridor, and 123 holes testing geochemical anomalies at the Jones Well target.

Results from the first 19 holes at Jones Well identified anomalous mineralisation on the first target, with results pending for 106 holes in that area and four follow-up holes at the southern end of Mulga Bill.

“The balance of the RC assays at Mulga Bill have provided important information on mineralised orientations in the high-grade zones, and we are starting to see evidence of interacting sub-vertical and flat-dipping structures,” Great Boulder Resources managing director Andrew Paterson said.

“The Side Well project is progressing simultaneously on several fronts, which is fantastic to see. We’re making good progress towards our 100,000 metres drilling target this year which will be a major step towards our goal of reporting a mineral resource estimate on Mulga Bill.”

Alderan Resources is exploring for copper and gold across a portfolio consisting of four high quality exploration projects in the state of Utah, USA. Tenement holding of Alderan’s four projects, Detroit, Valley Crossroads, Frisco and White Mountain, are all held either directly or through option agreements via its USA subsidiary, Volantis Resources.

The main project is the Detroit project that lies within the Detroit Mining District, approximately 175 kilometres southwest of Salt Lake City.

Detroit contains numerous historical copper, gold and manganese mines in a district that is well-known for having been explored for copper and gold in the past by major mining companies such as Anaconda Copper, Kennecott, Newmont, BHP and FreeportMcMoRan. Some big names, however, no one company was able to build a substantial contiguous land position to enable district-wide modern exploration.

Recent activity at Detroit has concentrated on the mineralised systems at the project’s Drum and Mizpah oxide gold deposits, which has demonstrated the deposits may have potential to be much larger than historically defined.

Drum is emerging as a high potential oxide gold deposit, based on historical drill holes that produced thick high-grade gold intersections and Alderan’s in-pit rock sampling initial verification drilling.

Drilling at Mizpah suggests the mineralised system could be much larger than modelled from historical drilling.

Further resource modelling to understand the economics of a potential oxide gold mine development at Drum and Mizpah is also an important next step the company expects will help set targets and guide the deposit evaluation process.

Drilling at Drum aims to confirm the presence and grade of remnant oxide gold mineralisation then extend and delineate the deposit, which is open both down dip and along strike.

EMAIL admin@greatboulder.com.au WEB www.greatboulder.com.au

DIRECTORS Scott Caithness, Ernest Thomas Eadie, Peter Williams, Frank Hegner (US)

(ASX: GBR)

DIRECTORS Greg Hall, Andrew Paterson, Melanie Leighton. Karen O’Neill

(ASX: AL8)

EMAIL info@alderanresources.com.au WEB www.alderanresources.com.au

53

Stavely Minerals

St George Mining

Stavely Minerals continued its 100 per cent-owned Stavely copper-gold project growth spurt in western Victoria, delivering results from followup diamond drilling at the Toora West porphyry prospect.

Stavely Minerals commenced a three diamond hole program at the Toora West prospect in early December 2021, which was completed in early January 2022, to follow-up to previously announced aircore drilling results.

The company declared the drilling to have confirmed the presence of porphyry-style copper and molybdenum mineralisation as well as a later phase of unexpected high-grade gold mineralisation associated with the copper sulphide tetrahedrite.

Diamond drill hole STWD005 intersected two high-grade gold zones, including: » 0.6 metres at 4.27 grams per tonne gold, 0.31 per cent copper, 2.6g/t silver and 130ppm molybdenum from 274.2m; and » 0.6m at 8.72g/t gold, 1.85 per cent copper, 5.2g/t silver and 151ppm molybdenum from 286.7m.

Drill hole STWD006 (the northernmost diamond drill hole) intersected an interval of low-grade copper anomalism, terminated by a fault, hosted in a porphyritic microdiorite and was terminated by a steeply south-west dipping structure, suggesting that drilling is in the upper portions of the Toora West porphyry system.

Drill hole STWD007 intersected an interval of silver mineralisation near-surface and deeper intervals of copper and molybdenum mineralisation, however, high-tenor copper sulphide mineral bornite was observed with pyrite and chalcopyrite in a porphyry quartz vein.

After completion of the diamond drilling, a high-resolution drone magnetic survey was completed, demonstrating improvement in resolution compared to the wide-spaced government aeromagnetic data.

“While the Toora West porphyry prospect is at an early stage of reconnaissance exploration, we are excited by what our recent drilling and geophysical programs have revealed,” Stavely Minerals chair and managing director Chris Cairns said.

St George Mining has been busy of late implementing activities and planned exploration programs at the company’s high-grade nickelcopper-PGE Mt Alexander project, located in the northern Yilgarn Craton of Western Australia.

St George Mining is applying a two-fold strategy: on one hand it is expanding areas of known high-grade massive sulphide mineralisation intersected near surface at Mt Alexander, while on the other it is testing several large conceptual targets it considers having potential to deliver a step change in the scale of the Mt Alexander project.

Following a comprehensive review of all available technical data for Mt Alexander, five conceptual target areas with minimal or no previous drilling have been identified for priority testing. » Ida Fault: an intersection of the Ida Fault and the Cathedrals Belt; » Radar Prospect: a 2 to 3km long interpreted structural anomaly with interpreted basal intrusive, 1.5km east of Cathedrals Deposit along the Cathedrals Belt; » Fish Hook Prospect: Over 4km long, 1km wide structural zone with multiple intrusive units interpreted from magnetic data; located 5km east of high-grade Cathedrals deposit along Cathedrals Belt; » Granite/Greenstone Contact: an extensive area of granite/ greenstone contact, north of outcropping central greenstone belt; and » Bullseye Anomaly: an untested gravity and magnetic anomaly 1km north of Stricklands deposit.

Work on these conceptual target areas is planned to commence on site early in the June quarter.

“With advanced exploration underway around the known high-grade deposits at the Cathedrals Belt and recognition of five large, conceptual targets at Mt Alexander — plus the commencement of diamond drilling at Paterson — this year is shaping as very productive for the Company and a very exciting time,” St George Mining executive chairman John Prineas said.

(ASX: SVY)

EMAIL info@stavely.com.au WEB www.stavely.com.au DIRECTORS Chris Cairns, Jennifer Murphy, Peter Ironside

54

(ASX: SGQ)

EMAIL info@stgm.com.au WEB www.stgm.com.au DIRECTORS John Prineas, John Dawson, Sarah Shipway

Widgie Nickel

Zenith Minerals

When considering the credentials of Widgie Nickel, some might not get past the large nickel sulphide Resource base that already exists at the company’s Mt Edwards project in a world-renown nickel district.

Widgie’s 10.684 million tonnes at 1.6 per cent nickel for approx.

168,150 tonnes of nickel sits impressively close to major infrastructure (roads, rail, power and water) just 80 kilometres south of Kalgoorlie, and 45km via sealed road to the Kambalda nickel concentrator.

The location of Mt Edwards provides Widgie with considerable flexibility to either sell the ore directly, build a processing plant, utilise nearby concentrators, or pursue offtake opportunities aligned to the EV sector.

Mt Edwards is a consolidation of 240 square kilometres of highly prospective nickel and new economy metal prospects across eleven separate nickel sulphide mineral resources.

The latest of these contributors is the Inco-Boundary deposit via modelling of historical reverse circulation (RC) and diamond drilling (DD) carried out at Inco-Boundary that resulted in an Inferred resource for the deposit of 464,000 tonnes, at a grade of 1.2 per cent nickel, representing 5,590 tonnes of contained nickel.

“Critically, Inco-Boundary is located proximal to other resources in the heart of the Mt Edwards project, making it a highly promising addition to our flagship project, as we move towards being production ready,” Widgie Nickel managing director Steve Norregaard said Widgie is aiming to be production ready in two years and to reach that goal it will undertake work programs designed to increase existing resources and commence development studies.

The company will also commence further exploration looking to discover more mineralisation to increase endowment while quantifying the cobalt, copper, palladium, platinum and gold added potential by-product value.

Zenith Minerals has a multi-faceted portfolio of wholly-owned and partnered exploration opportunities.

While it focuses on its 100 per cent-owned projects, its partners progress multiple additional opportunities using third party funds.

Zenith’s core Australian gold and copper projects include: Red Mountain gold project in Queensland; Split Rocks gold project in Western Australia; and Develin Creek copper-zinc project in Queensland.

The Develin Creek project contains a VMS copper-zinc deposit with an Inferred Mineral Resource (JORC 2012) of: 2.57 million tonnes at 1.76 per cent copper, 2.01 per cent zinc, 0.24 grams per tonne gold and 9.6g/t silver (2.62% CuEq).

The company has declared its confidence in the existing Inferred Mineral Resource (JORC 2012) based on the information available to it but indicated it may revise the resource upon completion of a resource update and twin hole drilling program currently underway.

Zenith commenced a three-rig drilling campaign at Develin Creek in September 2021 to test copper-zinc targets at Wilsons North, Snook and four targets surrounding the existing Sulphide City JORC massive copper-zinc sulphide deposits.

Exploration had to stop in December due to heavy rain but was recently recommenced with two drill rigs working to complete the resource update drilling at the Sulphide City deposit.

“I am pleased to report that resource update drilling has resumed at Develin Creek, following a hiatus related to significant rainfall events on the east coast of Australia, that restricted the movements of our drill crew,” Zenith Minerals CEO Mick Clifford said.

“In addition, massive sulphides intersected at the Snook prospect have again returned high-tenor copper-zinc-silver results with associated strong levels of gold and lead.

“This zone remains open along strike and clearly warrants follow-up drill testing.”

(ASX: WIN)

EMAIL info@widgienickel.com.au WEB www.widgienickel.com.au DIRECTORS Andrew Parker, Steve Norregaard, Felicity Repacholi-Muir, Scott Perry

(ASX: ZNC)

EMAIL info@zenithminerals.com.au WEB www.zenithminerals.com.au DIRECTORS Michael Clifford, Stan Macdonald, Julian Goldsworthy

55

Codrus Minerals

Helix Resources

It’s been a case of a lot of news in a relatively short time for Codrus Minerals since its listing on the ASX in June last year.

Codrus Minerals kept the newsflow rate up by recently reporting further assay results from Reverse Circulation (RC) drilling completed last year at the company’s 100 per cent- owned Red Gate gold project near Kalgoorlie in Western Australia.

The final assays received from the Red Gate drilling demonstrated potential for the project to host both wide lower-grade and narrower higher-grade zones of mineralisation, with mineralisation widely distributed across the key prospects tested to date (Porphyry North, Porphyry West, Grunters, Arieta and Vonu).

Codrus is planning follow-up drilling along with further UAV (drone) magnetic surveys to assist in enhancing the structural interpretation.

“We are very pleased with the outcomes of our maiden drill program at Red Gate,” Codrus Minerals managing director Shannan Bamforth said.

“While our geological understanding of the project is still developing, the two key takeaways for us are the extensive nature of the gold mineralisation encountered and the fact that the project is clearly capable of hosting both wide zones of lower-grade mineralisation and narrower, high grade gold zones.

“The presence of multiple zones of gold mineralisation in two key holes at both Porphyry North and Porphyry West is an excellent sign, suggesting that there is a significant amount of metal in the system at Red Gate.

“Our focus is now on establishing vectors to the higher-grade zones and to expand the overall mineralised envelope.

“We are very encouraged by what we have seen to date, particularly given the location of this project in a Tier-1 mining district close to several major operating mines.”

Helix Resources recently announced a capital raising of up to approximately $13 million to accelerate its copper exploration activity in the prolific copper-endowed Cobar region of New South Wales.

The total consisted binding placement commitments from institutional investors to raise $11 million via the issue of approx. 916.7 million new shares at an issue price of 12 cents per share and a Share Purchase Plan to raise up to an additional $2 million offered to eligible shareholders at the same price.

The funds will allow acceleration of Helix’s copper focused exploration program in the greater Cobar region with financial certainty to complete major drilling programs.

The funds have been earmarked primarily to drilling and other activities, applied to: » Copper discovery and resource growth at Rochford (includes Canbelego Project); » Copper discovery and resource growth at Collerina (includes CZ Project); and » Metallurgical testwork and development studies.

Helix has been encouraged by exploration seeking ‘Cobar-style’ deposits at the Canbelego deposit and Rochford prospect, which is where around 60 per cent of the overall exploration will be directed.

At Collerina, Helix is refining geological models for the CZ Deposit, based on the ‘Tritton-style’ of copper (+gold) deposits and will conduct regional scale work to identify and confirm potential for regional prospects to be advanced to add to the CZ Mineral Resource.

“We are now fully funded to drill-out resources and prospects, further generate and advance targets across our extensive tenement package and undertake preliminary mining studies and metallurgical work,” Helix Resources managing director Mike Rosenstreich said.

On the corporate front, non-executive director Jason Macdonald has advised the company he will be retiring from his position effective 12 May 2022 after eight years.

(ASX: CDR)

EMAIL admin@codrusminerals.com.au WEB www.codrusminerals.com.au DIRECTORS Andrew Radonjic, Shannan Bamforth, Jamie Byrde

56

(ASX: HLX)

EMAIL helix@helixresources.com.au WEB www.helixresources.com.au DIRECTORS Peter Lester, Tim Kennedy, Jason Macdonald, Mike Rosenstreich

BMG Resources (ASX: BMG)

BMG Resources owns 100 per cent of three highly prospective gold exploration projects in Tier 1 Western Australian mining jurisdictions — Abercromby, Invincible and South Boddington.

The Invincible project is in the Central Pilbara gold district, along strike from, and hosted by the same stratigraphy as, Calidus Resources’ Warrawoona gold project.

The South Boddington project is located within the Saddleback Greenstone Belt and along strike to Newmont Goldcorp’s giant Boddington Gold Mine.

However, of the three, BMG’s main asset is the Abercromby gold project, which is a high-grade discovery in the Wiluna district — one of Australia’s most productive gold-producing regions.

Abercromby is surrounded by major gold deposits including Jundee and Wiluna, and close existing infrastructure including operating plants.

Drilling undertaken at Abercromby in 2021 and reported earlier this year, confirmed continuous zones of gold mineralisation, inclusive of extremely high grades.

All RC holes BMG completed at the Capital prospect in 2021 intersected gold mineralisation, confirming extensions of the known mineralisation while underlining the strong potential to deliver a substantial, high-grade gold resource at Abercromby.

“The RC drilling has identified a new eastern lode which has not been previously intersected by historical drilling,” BMG Resources managing director Bruce McCracken said.

“This is an exciting development that opens up an area for a sizeable extension of the potential resource envelope at Capital.

“Step-out drilling to the north of the Capital prospect continues to intersect gold mineralisation, which provides encouragement that the high-grade mineralisation at Capital extends continuously for a further 500m to the Capital North prospect — potentially significantly increasing the strike of mineralisation and suggesting a much larger mineral system.

“We’re excited by the results to date and the drilling programs underway.”

EMAIL enquiry@bmgl.com.au WEB www.bmgl.com.au DIRECTORS Greg Hancock, Bruce McCracken, John Prineas, John Dawson

New World Resources (ASX: NWC)

New World Resources is a demerger portfolio of cobalt assets in North America, into its wholly-owned subsidiary, Koba Resources Limited.

New World Resources’ rationale behind the move is that, given the company’s strategic focus on the potential redevelopment of the Antler copper project in Arizona, the value of its cobalt assets was not being appreciated.

The rise in the price of cobalt since the start of 2021 by more than 50 per cent from around US$33,000/tonne to approx. US$50,000/ tonne was also a sweetener to the deal.

The rising price has been widely attributed to increasing demand for minerals that are integral in the production of electric vehicles, of which one is cobalt.

Keeping its eyes on the Antler prize, New World Resources recently struck a Purchase Option and Sale Agreement for the right to acquire a 100 per cent interest property immediately adjacent to said high-grade Antler copper deposit.

The company can exercise its option to acquire this land at any time in the next five years.

“Securing additional privately-owned surface rights immediately adjacent to the old mine has been a high priority for us, ever since our drilling demonstrated that there is a high probability that an economically viable mining operation can be re-started at the high-grade Antler copper deposit,” New World Resources managing director Mike Haynes said.

“Finalising this acquisition agreement is therefore a major milestone towards developing a new mining operation.

“We now have clarity on where we can optimally build surface infrastructure — which will deliberately be close to the Antler mine, on privately-owned land. This should reduce the project’s footprint, help minimise both capital and operating costs, while also streamline the mine permitting process.”

EMAIL info@newworldres.com WEB www.newworldres.com DIRECTORS Richard Hill, Mike Haynes, Tony Polglase, Ian Cunningham

New World RESOURCES

57

Venture Minerals

Genesis Minerals

Venture Minerals’ current focus is centred on the company’s Mt Lindsay tin-tungsten project in northwest Tasmania.

The company recently completed a program of metallurgical drilling at Mount Lindsay, homing in on the No.2 Skarn high-grade Radford Shoot and the Main Skarn high-grade MacDonald Shoot.

Results from this program delivered further excellent tin-tungsten drill intersections, including: » ML344M 158.5 metres at 0.8 per cent tin and 0.1 per cent tungsten from 78m from the Main Skarn deposit; and » ML347M 99m at 0.3 per cent tungsten from 63 m from the No.2 Skarn deposit.

Having completed the metallurgical drilling, a critical long lead item of the Mount Lindsay underground Feasibility Study that is already well underway, Venture Minerals announced the appointment of mining engineer Glenn Van Vlemen as Project Development Manager.

“Venture is fortunate to have engaged a very experienced underground mining engineer who has worked in tin and is therefore well suited to run the updated Mount Lindsay Feasibility Study,” Venture Minerals managing director Andrew Radonjic said.

“The Feasibility drilling at Mount Lindsay continues to deliver excellent tin and now tungsten intersections within the high-grade shoots of the Main Skarn and No.2 Skarn.

“Mount Lindsay clearly demonstrates the potential to be a vital source of EV metal and Critical Minerals for the world and can be developed in a net zero emissions environment and is therefore an important part of the decarbonization of the global economy.”

The Mount Lindsay project is classified by the Australian Government as a Critical Minerals Project.

Mount Lindsay is already one of the largest undeveloped tin projects in the world, containing over 80,000 tonnes of tin metal and tungsten (Critical Mineral in Australia) resource containing 3.2 million metric tonne units of tungsten.

Genesis Minerals recently announced an increase to the Mineral Resource at the company’s 100 per cent-owned Leonora gold project in Western Australia.

Genesis Minerals has increased the Leonora Resource by 409,000 ounces, taking it over the 2 million ounce mark.

The company expects the Resource, which comprises 39.3 million tonnes at 1.6 grams per tonne gold, will grow substantially given that the mineralisation remains open in every direction, plus drilling is ongoing and there is a host of assays pending from previous drilling.

The key changes to the Leonora Mineral Resources statement (compared to 31 March 2021) are: » Total Mineral Resources: Increased by 409,000 ounces (+25%) to 2 million ounces; » Puzzle Mineral Resources: Increased by 251,000 ounces (+396%) to 315,000 ounces; » Admiral Mineral Resources: Increased by 103,000 ounces (+22%) to 562,000 ounces; and » Orient Well Mineral Resources: Increased by 55,000 ounces (+22%) to 302,000 ounces.

After acquiring the Kookynie gold project in June 2020, Genesis has focused its activities on drilling the Admiral, Orient Well and Puzzle deposits, which it considered being ‘forgotten’ opportunities with virtually no exploration conducted for approx. 20 years.

As a result, there has been no drilling at the company’s Ulysses project over this period, where Resource remains unchanged at 838,000 ounces, (including a high-grade component of 363,000oz at 6.4g/t).

Extensional drilling at Ulysses is set to resume in 2022.

“Genesis has arrived as a central player in the tier-one district of Leonora,” Genesis Minerals managing director Raleigh Finlayson said.

“Genesis is financially robust, and we are building a leading team with extensive technical and corporate experience.

“This combination gives us an enviable platform for both organic and inorganic growth.”

(ASX: VMS)

EMAIL admin@ventureminerals.com.au WEB www.ventureminerals.com.au DIRECTORS Mel Ashton, Andrew Radonjic, John Jetter

58

(ASX: GMD)

EMAIL investorrelations@genesisminerals.com.au WEB www.genesisminerals.com.au DIRECTORS Tommy McKeith, Raleigh Finlayson, Gerry Kaczmarek, Neville Power (LOA), Michael Bowen

22 & 23 June 2022 JW Marriott Gold Coast Resort & Spa, Queensland

Interested in a unique Conference experience?

The Gold Coast Investment Showcase is Australia’s largest diversified investment Conference.

• Vertical Events has over 14 years history at holding investor events on the Gold Coast and bringing together ASX company executives with real investors, self funded retirees, stockbrokers and investor clubs.

• The only large scale investment conference to be held in Queensland this year by one of Australia’s premier Conference organisers, Vertical Events.

• One of the few Australian investment forums open to all ASX listed sectors, e.g. resources, energy, technology, biotechnology, property.

• Network with company executives & representatives, as well as fellow investors & brokers.

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The SOLD OUT programme includes presentations from these companies: Accelerate Resources Ltd

AX8

Godolphin Resources Ltd

GRL

Platina Resources Ltd

PGM

Akora Resources Ltd

AKO

Greenstone Resources Ltd

GSR

QEM Ltd

QEM

Arovella Therapeutics Ltd

ALA

GreenTech Metals Ltd

GRE

Race Oncology Ltd

RAC

AuKing Mining Ltd

AKN

KGL Resources Ltd

KGL

ResApp Health Ltd

RES

Aurora Energy Metals Ltd

1AE

Kopore Metals Ltd

KMT

Rincon Resources Ltd

RCR

Aurumin Ltd

AUN

Little Green Pharma Ltd

LGP

Sayona Mining Ltd

SYA

Black Canyon Ltd

BCA

Living Cell Technologies Ltd

LCT

Sensore Ltd

S3N

Black Cat Syndicate Ltd

BC8

Marvel Gold Ltd

MVL

Stonehorse Energy Ltd

SHE

Bulletin Resources Ltd

BNR

Matsa Resources Ltd

MAT

Sunshine Gold Ltd

SHN

Caprice Resources Ltd

CRS

Miramar Resources Ltd

M2R

Tamboran Resources Ltd

TBN

Charger Metals NL

CHR

My Food Bag Group Ltd

MFB

Tambourah Metals Ltd

TMB

Clean TeQ Water Ltd

CNQ

Nurotech International Ltd

NTI

Taruga Minerals Ltd

TAR

Dreadnought Resources Ltd

DRE

Okapi Resources Ltd

OKR

Technology Metals Australia Ltd

TMT

EV Resources Ltd

EVR

Omnia Metals Group Ltd

OM1

Thomson Resources Ltd

TMZ

Firetail Resources Ltd

FTL

Yandal Resources Ltd

YRL

Investors & Brokers register for FREE at: www.goldcoastinvestment.eventbrite.com.au Investing in Women in Resources Networking Breakfast • Presented by the QRC/Women In Mining & Resources QLD (WIMARQ) Gold Coast Chapter.

• Speaker: Lydia Gentle OAM, awarded Queensland’s Exceptional Woman in Resources 2022.

Thursday 23 June 2022 | JW Marriott Gold Coast Resort & Spa Details at: www.goldcoastinvestmentshowcase.com.au

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2022-23 Vertical Events conference line-up

22 & 23 June 2022

7 September 2022

JW Marriott Gold Coast Resort & Spa, QLD

8 September 2022

Hyatt Regency Hotel Perth, WA

Hyatt Regency Hotel Perth, WA

19, 20 & 21 October 2022

Abbey Beach Resort Busselton, WA

8 November 2022 Swissôtel Sydney, NSW 10 November 2022

Grand Hyatt Hotel Melbourne, VIC

23 & 24 November 2022

14, 15 & 16 February 2023

Westin Perth, WA

2, 3 & 4 May 2023

Esplanade Hotel Fremantle, WA

Hyatt Regency Sydney, NSW

Since 1998, Vertical Events has been successfully organising and implementing corporate investment conferences. Vertical Events prides itself on consistently delivering the environment where Investors and Company Executives come together to network, discuss investment options and to hear analysis from listed sector experts.

For more information on the above mentioned conferences and to discuss how your company can sponsor, present and exhibit, contact Vertical Events.

T: 08 9388 2222 or E: info@verticalevents.com.au

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@VEvents_RIU

@instagram.com/verticalevents

www.verticalevents.com.au