Helix Resources is a standout ressie gainer today. It’s broadened its copper-gold hunt in the Cobar region
MTM Critical Minerals has good news about FJH technology development
Blackstone, Raiden and Nagambie are all double-digit gaining, too
Here are some of the biggest resources winners in early trade, Monday June 24.
Helix Resources (ASX:HLX)
This Cobar-region copper’n’gold-hunting microcap has flagged further positive results in its search for new copper-gold deposits from the auger geochemical sampling program in the Eastern Group tenements, ~40km southeast of Nyngan in central NSW.
More specifically, new assays from shallow auger drill samples have delineated two new areas of widespread gold and antimony anomalism referred to as the Iowaba and Tarawera targets.
The company notes that these new anomalies occur 20km and 35km north of the newly identified Aldebaran 1 prospect, significantly extending the copper-gold prospectivity of the Collerina Copper Trend in Helix’s Eastern Tenement Group.
Helix’s MD Kylie Prendergast said, among other things:
“The prospective corridor, we refer to as the Collerina Copper Trend, extends south from the Aeris copper tenements through Helix’s Eastern Group Tenements for over 100km of strike length.
“The new auger results, which only test part of this corridor, continue to confirm this is a major prospective zone with signatures indicative of copper-gold mineralisation such as those occurring at Aeris’ Tritton Copper Operations – which have been producing 20-30ktpa of copper plus gold for the past 30 years.”
MTM Critical Metals (ASX:MTM)
MTM Critical Metals is going for gold and other precious and critical minerals in WA and also over in Canada.
Why’s MTM beautly in double digits territory intraday? Let’s see…
The company has announced “significant progress and promising developments” in the application and commercialisation of FJH technology.
Whatwetalkin’aboutWillis?
FJH stands for Flash Joule Heating (FJH) technology.
Essentially what MTM has been doing is prototype testing critical metal recovery from coal fly ash (CFA). And it’s reportedly seen “highly encouraging results” now this stage is completed.
Testing is now underway on e-waste and bauxite residue (red mud) from feedstock supplied in US.
Here’s chairman John Hannaford, who explains things better from his company’s perspective:
“MTM is revolutionising how metals are recovered from ores and waste, achieving several strategic advancements this past quarter, including the completion and continuation of successful waste-to-metal recovery trials.
“We have also broadened the potential scope of FJH by identifying key industry challenges where it could deliver substantial benefits, including in lithium and REE extraction, and other mineral processing applications.
“FJH’s test work is investigating the potential applications of the technology can lead to savings in energy, water and reagent usage, carbon emissions and cost, seeking to address some of the most pressing issues faced in the industry today.”
Blackstone Minerals (ASX:BSX)
Battery metals junior Blackstone is more than 20% up today after announcing it’s raked in $1 million as an advance from a research and development lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital.
This reportedly comes as part of Blackstone’s future 2024 refundable tax offset for R&D expenditure.
The company notes the funding will be used to help develop Blackstone’s “Ta Khoa Refinery process” and its “unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM)”.
BSX is decently funded already, and will have a cash position of ~$4.1 million following receipt of the advance.
Blackstone’s MD Scott Williamson said: “The additional funding allows Blackstone to complete the Ta Khoa Refinery definitive feasibility study over the coming months and continue to progress the joint venture partnership process for the Ta Khoa Project in Vietnam.”
Raiden Resources (ASX:RDN)
(Up on no news)
This lithium hunter (among other critical minerals) is also a notable ressie-pack mover at the time of writing.
Not seeing any fresh reports, so here’s some of the company’s recent news:
A Stockhead May 16 report/interview, in which Raiden’s MD – experienced geologist Dusko Ljubojevic – discussed at length the latest on several of the company’s projects including Arrow Gold, Mt Sholl Ni-Cu-PGE, and its key focus at Andover South and North lithium.
The company has recently finalised an earn-in agreement with Mallina Co in regards to Arrow, as well as received a final heritage survey report over its targets at Andover South.
Also, roughly a month ago, according to an ASX announcement, Raiden revealed that the final heritage report received for its Andover North project effectively allows the company to finalise drilling program across all Andover permits.
Nagambie Resources (ASX:NAG)
(Up on no news)
Gold explorer Nagambie Resources’ share price has been chopping about this year, but it’s in the double-digits green again today.
We’re not seeing any fresh announcements today, so we’ll revert a bit… to this…
Nagambie Resources Executive Chairman, Mike Trumbull commented on the major Victorian high-grade #antimony– #gold discovery: “The Company’s antimony-gold resource drilling program has been an outstanding success.https://t.co/2ivwuCY1ew $NAG $NAG.ax #drilling #ASX pic.twitter.com/bazOiNHtUR
— Nagambie Resources (@NagambieASX) July 3, 2023
… and this:
Almost exactly a month ago, the company has announced a maiden JORC resource for the shallow, high-graded gold mineralisation at its namesake gold and antimony mine in central Victoria.
Some specifics. The company’s talking an Inferred Resource here, of 415,000 tonnes averaging 11.5g/t gold equivalent and comprising 3.6g/t gold plus 4.3% antimony.
It also noted that the in-ground metal content of 153,000 ounces gold equivalent, comprises 47,800 ounces gold plus 17,800 tonnes antimony and the average 11.5g/t gold equivalent resource grade is 230% of the mineable cut-off grade of 5.0g/t AuEq.
This, says NAG, indicates a high-margin orebody at the Nagambie mine, where there are four shallow gold-antimony lode systems all open and at depth.
Nagambie chairman Tom Quinn described the maiden JORC Resource for the high-grade discovery as a “watershed moment” for the company, adding that “it comes in the context of recent all-time record-high gold prices and strong prices for antimony, an essential metal for military uses and high-performance solar panel manufacture.”
At Stockhead we tell it like it is. While Raiden Resources is a Stockhead advertiser at the time of writing, it did not sponsor this article.
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