Resources Top 4: Solstice and Miramar kiss 50pc gains, as gold, copper and uranium light up ASX

Solstice Minerals has entered a sale agreement with Northern Star for an asset pulling it a cool $10m
Miramar Resources’ Eastern Goldfields drilling and expansion pushes it further in the right direction
While Helix Resources and Lincoln Minerals are also cruising up the bourse

Here are some of the biggest resources winners in early trade, Tuesday April 9.

Solstice Minerals (ASX:SLS)

Exploration junior Solstice is on the hunt for gold, base and battery metals in the Eastern Goldfields of Western Australia and has some news of import that’s sending its share price up a head-turning 55% or thereabouts this morning.

The company is about to become $10m more capitally advantaged, thanks to the offload of its 80%-owned Hobbes gold project exploration licence to 20%-holder Northern Star (Carosue Dam) Pty Ltd.

That’s a binding Sale and Purchase Agreement the two parties have entered and the licence contains the Hobbes gold deposit, situated near Northern Star ‘s open-pit and underground gold mines at Porphyry, and close to its Carosue Dam production hub.

SLS regards the sale as “a logical step for monetising the Hobbes asset” and, importantly, will now financially inject the company’s search for new gold deposits across its extensive Yarri project and other landholdings.

The sale agreement is subject to some standard conditions and is expected to complete in coming weeks.

SLS share price

Miramar Resources (ASX:M2R)

Explorer Miramar has also raised the bar, or the bat this morning – for a half century of intraday gains at the time of tapping this one out.

It’s working toward a maiden drilling campaign at the Bangemall Ni-Cu-Co PGE project and has expanded its 480km2 Eastern Goldfields tenement portfolio.

The company also has specific targets outlined for RC drill testing at the Gidji JV gold project north of Kalgoorlie.

Meanwhile, the aforementioned portfolio expansion includes a tenement application over a 11km-long aircore gold anomaly with similarities to the +2Moz Invincible gold deposit within the St Ives gold camp, near Kambalda, WA.

Miramar provides an update on #gold & #nickel exploration activities at the Bangemall Ni-Cu-Co-PGE project, Gidji JV gold project and a new gold tenement application. https://t.co/QNzhqRECfL #M2R #asxnews #drilling #gold #nickel #copper #cobalt #PGE #investors

— Miramar Resources Ltd (@MiramarRes) April 8, 2024

Miramar’s executive chairman Allan Kelly believes the company’s Eastern Goldfields exploration assets are undervalued, noting:

“In a record gold price environment, the inherent value of our gold projects, including our flagship Gidji JV Project, where we have made multiple new gold discoveries immediately along strike from one of the richest patches of earth on the planet, is significant.”

M2R share price

Helix Resources (ASX:HLX)

Cobar copper player Helix is up 25% or thereabouts on news regarding its Canbelego project.

Geophysics has identified a “highly prospective” 1,200m zone coincident with surface copper anomalism at the NSW project, right next to the high-grade Canbelego deposit.

This anomaly is in addition to the two recently identified IP anomalies west of the Canbelego Main Lode Resource. And it highlights the potential to increase the existing copper Mineral Resource.

There are now three, new, undrilled, prospective target zones around the Canbelego Copper Resource, which Helix has defined by a series of recent geophysical surveys.

But wait, there’s more. A 2,400m conductive zone was also identified from the GAIP survey at the Caballero Prospect to the south along the Rochford Copper Trend.

Follow-up geophysics are set to get underway next week, if the weather holds out, with more refined targeting and drilling scheduled for May.

Exec tech director Kyle Prendergast enthused:

“We have high confidence that the conductive zones represent mineralised structures due to the correlation of copper geochemical anomalism at surface with these conductive zones and our new geological modelling,” adding:

“Now we will move to test the anomalies with PDIP geophysics. This will test down to depths of about 400m and we will
be seeking to identify chargeability zones that could represent sulphide copper mineralisation, ideally similar to
those that we identified very effectively with this technique at the high-grade Canbelego deposit.”

HLX share price

Lincoln Minerals (ASX:LML)

Historic uranium drilling has intercepted up to 570 ppm uranium prospectivity across Lincoln’s Eyre Peninsula tenements, sending the LML price into overdrive. Well, to the tune of +25% at time of writing, anyway.

The Lincoln review revealed highly prospective uranium targets over four target regions across its existing tenement portfolio on Eyre Peninsula, South Australia.

The SA-based, $12.78m market capper notes that its previous drilling at the Jungle Dam project intersected uranium up to 570 ppm in scout drilling.

It also highlighted:

• Eridani – a prospect identified at the Minbrie project by a review of new and historic data sets
• And Carinya and White Flat – where field mapping has returned up to 1088 ppm U using pXRF analysis, and where airborne radiometric data reveals over 100 ppm eU, backing up a historic drill hole result of 350 ppm U.

We’ve conducted a prospectivity review of the #uranium potential across our tenements in SA’s Eyre Peninsula. Historic uranium #drill intercepts of up to 570 ppm indicate significant potential across several target regions within our existing portfolio.

Highlights include… pic.twitter.com/XW4g9NfP9G

— Lincoln Minerals (@LincolnMinerals) April 9, 2024

Lincoln Minerals CEO Jonathon Trewartha said:

“Against the backdrop of soaring uranium prices, this review has reinvigorated our plans for dedicated uranium exploration, which have been on hold since the uranium market downturn over a decade ago.”