Black Dragon Gold, hunting for the yellow metal in Spain, flies up the bourse
Other goldies also glinting: Kula, Ballymore, Westar, Aurum and Forrestania
Here are the biggest resources winners in early trade, Wednesday November 22.
Black Dragon Gold (ASX:BDG)
(Up on no news)
Black Dragon Gold has swooped above the other ASX ressie gainers today, with a current 28% share price rise.
Not seeing much, or anything actually, at present that’s pushing it in that direction, so we’ll revert to its last piece of reasonably significant news, but not before a bit of background…
BDG’s flagship operation is the high-grade Salave gold project in the Asturias region of Spain – one of the largest underdeveloped gold projects in Europe.
About 10 days ago, BDG noted that “Black Dragon continues to progress and de-risk the permitting and development” of the Salave project.
And… “with the Western world opening their economies post the COVID-19 pandemic, the company was able to achieve a number of significant milestones.”
Those milestones included the completion of an environmental impact assessment, an extension of an investigation permit, the granting of a drilling permit, and diversification into Aussie-based gold, with the acquisition of WA/Yilgarn-based Marlee Gold and its two main projects.
Here is the most recent post on the company’s X account. Hopefully it’ll update something fresh there soon.
$BDG #BlackDragonGold CEO Gabriel Chiappini tour of drill core shed with 70,000m+ of drill cores, cuttings and samples. This inventory represents an equivalent investment of USD$40m & with a MRE of 1.56m ounces of gold @ 4.3g/t we are well positioned to develop #SalaveGold pic.twitter.com/2JcwCnCj2L
— Black Dragon Gold (@BlackDragon_Oro) June 30, 2023
BDG share price
Westar Resources (ASX:WSR)
Down 56% YTD, 2023 hasn’t been the greatest of share price years for this Perth-based exploration minnow. That said, it’s kicked off Nov 22 with some +15% positivity and news from its Olga Rocks project within the emerging Forrestania lithium district in WA.
The company has announced it’s now begun further lithium and gold target drilling at the project, which follows up on a maiden RC drill program that intersected anomalous lithium in pegmatites and high-grade gold in mafics.
The testing is for a “reinterpretation for potential pegmatite-hosted lithium” as well as to target largely “underexplored” potential high-grade gold mineralisation.
Westar exec direc Lindsay Franker is excited about it. We know this, because we read the ASX release and we also read the company’s social post below…
We’ve commenced drilling at our Olga Rocks Project located in WA, to test the reinterpretation for potential pegmatite-hosted #lithium and also target a prospective horizon for high grade #gold mineralisation that is largely underexplored.$WSR #ASXhttps://t.co/FS0kKB8YpA pic.twitter.com/KAD0aLDMtL
— Westar Resources (@Westar_Res) November 21, 2023
Franker notes some nearology there – the Zenith Minerals (ASX:ZNC) Dulcie North gold project, about 1.5km along strike from Olga Rocks.
WSR share price
Kula Gold (ASX:KGD)
Goldie/white goldie Kula is at it again, moving the share price needle in the right direction.
KGD is up about 24% at the time of resisting watching the ODI World Cup highlights for the sixth time (this morning).
News? It’s announced that maiden RC drilling has now begun at the Cobra lithium prospect’s expanded target area in southwest WA, which we flagged last week (after KGD flagged it first, natch).
Cobra is a 3km long, 500m wide lithium prospect approximately 20km west of the world’s largest hard rock lithium mine, Greenbushes, and it has flexibility to extend further based on visually encouraging rock types.
Dawson on $KGD‘s Cobra #Lithium Prospect:
“3 lines of drilling spaced across the 3km strike length of the mapped pegmatite is the initial test.”
“Recent mapping has delineated that the mapped pegmatite extends further southwest & rock chips are being submitted for analysis.” pic.twitter.com/ppALXXlRUs
— Kula Gold Limited (@KulaGold) November 21, 2023
Some $650,000 is targeted for raising for the drill program. More on that in one of our recent special reports.
KGD also notes the progression of some of its other lithium targets, including:
• the Falcon lithium prospect – pegmatite, up to 300m wide and 1.8m strike (southeast of Cobra Prospect)
• the Mustang lithium prospect – multiple pegmatites; strikes up to 1km and over 200m wide
• the Thunderbird lithium prospect – new LCT suite mineralisation, 3 parallel pegmatite units, up to 300m wide and to 1km strike
Stockhead’s Ashtyn Hiron recently spoke with Kula’s MD Ric Dawson about it all…
Kula Gold Managing Director Ric Dawson speaks to @StockheadAU re: drilling at $KGD‘s Cobra #Lithium Prospect.
“We’ve done all the groundwork & now it’s up to the RC rig to give us some results that hopefully will be spodumene at depth”
https://t.co/PcfV8u6JGg$KGD.ax pic.twitter.com/NUvMBFeJhR
— Kula Gold Limited (@KulaGold) November 15, 2023
KGD share price
Aurum Resources (ASX:AUE)
This small goldie is up on… a nicely put-together acquisition presentation called “A New Beginning with More Gold”.
Aurum announced in mid-November that it had entered into a binding heads of agreement to acquire the West African drilling company PlusOr Global and its interest in the Boundiali gold project in Côte d’Ivoire.
And the company has the test drills spinning at the site as we type (possibly).
The drill company brings in two diamond drill rigs for Aurum and about 10,000m diamond drilling consumables on the project site.
Aurum believes the Boundiali project is significantly underexplored, especially as it’s a highly-prospective gold site with historically excellent drilling results.
The Boundiali greenstone belt hosts Resolute Mining’s (ASX:RSG) Syama gold operation and the Tabakoroni deposit in Mali.
AUE share price
Ballymore Resources (ASX:BMR)
(Up on no fresh news)
No fresh news here today that’s sending this gold/copper/silver hunter up and to the right.
So… we’ll time travel you back to earlier this month, when India still had unshakable belief that it was the best ODI team in the world and England was utterly hopeless (which it still is) but morally winning…
At that time, on November 6, the junior Queensland explorer noted that it had conducted soil sampling at the Ruddygore copper project/system, targeting a ‘significant magnetic anomaly’ and extending the system by another 2km, to create a 5km long target zone.
The project is an extension of the historic Ruddygore high-grade mine that was operated until 1909, yielding 1,450 tons of copper at a grade of 3.9% Cu & 56g/t Ag.
ASX Alert!
Soil sampling, targeting a significant magnetic anomaly, has extended the Ruddygore system by another 2 km, to create a 5 km long target zone.
Download the full announcement here https://t.co/ScpvMBW3Ff pic.twitter.com/sk4Oke7oDE
— Ballymore Resources (@BallymoreRes) November 5, 2023
Ballymore also had good news in late October, announcing “extremely high-grade gold results” with individual assays up to 2206ppb Au (2.2g/t) returned from soil sampling program over its Dittmer prospect, some 30-odd kilometres southwest of Prosperine in central Qld.
That prospect includes the historic Dittmer mine and numerous unexplored, historic workings in local area and the company believes the find confirms Dittmer as a major mineralised system defined by broad anomalies.
BMR share price
Forrestania Resources (ASX:FRS)
(Up on no news)
Gold, lithium and nickel hunter FRS is a late-lunchtime charger up the ASX. Up on not much that’s readily apparent.
That said, a handful of days ago or so, it did successfully complete an entitlement offer, oversubscribed, with more than $1.78 million raised to fund the company’s further exploration efforts.
It’s been a busy Quarter for the team at $FRS as we develop projects in Canada & Western Australia.
https://t.co/T8pjqmNCr8$FRS.ax #Lithium pic.twitter.com/P18qcHsJqh
— Forrestania Resources Ltd ($FRS) (@ForrestaniaRes) October 31, 2023
FRS share price
At Stockhead we tell it like it is. While Kula Gold is a Stockhead advertiser at time of writing, it did not sponsor this article.
The post Resources Top 6: Black Dragon leads goldie charge, followed by Westar and Ballymore appeared first on Stockhead.
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