Public Company News

Allup Silica has readied itself for drilling as early as next month in a bid to fast-track the development of its 100 per cent-owned McLaren heavy mineral sands project near Balladonia in WA as it pushes forward with a prefeasibility study. The infill drilling is aiming to refine the project’s existing resource estimate and ultimately target a 200 million-tonne deposit.

Aruma Resources has kicked off ground gravity and induced-polarisation geophysical surveys at its Fiery Creek project near Mount Isa in Queensland to test areas of outcropping copper and identify drill targets. The detailed geophysics are part of Aruma’s new mission to acquire data of sufficient quality and resolution to enable prospect-scale drill-targeting, which had not been possible with previous geophysical data over the area.

As market conditions continue to improve, Toro Energy has cranked up the resource estimate at its Lake Maitland deposit near Wiluna in WA to reveal a 12 per cent rise in its uranium resource and a 74 per cent jump in vanadium, after lowering the cut-off grade to 100 parts per million (ppm) to better align with its peers

Red Metal is gearing up for an intense period of exploration across north-west Queensland, with separate drilling programs set to kick off at three of its projects in the coming month. Initial investigative drill campaigns at the company’s Gidyea copper-gold and Lawn Hill silver-lead-zinc projects will be launched to test their significant base metals potential, followed by infill drilling at its Sybella rare earths play.

ChemX Materials has secured a patent from the New Zealand Intellectual Property Office for its “HiPurA” processing technology used to produce high-purity alumina (HPA) for application in cutting-edge technologies such as LEDs, semiconductors and lithium-ion batteries. The patent adds to the company’s recently-granted Australian equivalent and helps reinforce its push to become a key HPA producer in Australasia.

American West Metals has sealed a US$12.5 million (AU$18.8 million) royalty funding deal from TMRF Canada – a subsidiary of Australian-based Taurus Funds Management – to boost the development of its Storm copper project in the Nunavut territory in northern Canada. The company expects to pocket the first US$1 million in the next few days and it will be followed shortly by an additional US$4 million.

Neometals has dusted off historical data to unveil a new Western Australian gold strategy at its Barrambie project that previously produced 27,000 ounces at 27.8g/t. The company says recent rock-chip samples threw up grades as high as 44g/t, prompting it to pivot back to the precious yellow metal, while its titanium and vanadium pursuits will now take a backseat.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some notable drill intercepts revealed on the ASX, including Mithril Silver and Gold’s 33m at 31.8g/t gold and 274g/t silver at its Mexican project. We also look at other interesting drill hits as reported by Flynn Gold from its Trafalgar zone and from Patronus Resources’ Cardinia project near Leonora in Western Australia.

American West Metals has discovered thick high-grade copper assaying up to 3.7 per cent from deep diamond drilling at the Cyclone deposit within its Storm project in the Canadian territory of Nunavut, indicating a big mineralised system. The discovery hole was collared about 110m south of the North Graben Fault that cuts off the south side of the Cyclone target.