Krakatoa ERUPTS with 150%+ gain on copper and gold rock chipping in NSW near Bathurst
Cosmos also has rock chips on display. Of the high-grade REE variety
LNR, M4M and CLE are also turning bourse-browsing heads
Here are some of the biggest resources winners in early trade, Thursday April 11.
Krakatoa Resources (ASX:KTA)
Critical minerals-hunting junior Krakatoa has EXPLODED again. (Erupt and explode quota 100% reached. Tick.)
KTA is up a stupendous 187% at the time of writing, after announcing it’s picked up rock chips grading up to 10.5% copper and 1.2g/t gold at the Turon project, which is about 10km from the high-grade Hill End gold mine in NSW and about 30km north of Bathurst.
The company is particularly encouraged by these results, as you might imagine, given the current copper and gold boom in commodity pricing.
Samples also picked up anomalous Molybdenum, and tin. Source: Krakatoa Resources.
Source: Krakatoa Resources
KTA share price
Cosmos Exploration (ASX:C1X)
More rocks. More chips. Explorer Cosmos is touting multiple samples grading up to 2.2% rare earths – TREYO (33% NdPr) – from the Byro East project in WA.
Specifically, at the project’s Leatherback Silicate–Carbonatite Alkaline Complex.
The company says the fresh assays further substantiate the Leatherback mineralised trends as drill targets, with possible extension in multiple directions.
Five mineralised REE trends have Cosmos interested, spanning some 2.5km in strike.
For some sort of visual context, here’s some rock porn.
Source: Cosmos Exploration
C1X share price
Lanthanein Resources (ASX:LNR)
WA-based REE and lithium exploring minnow Lanthanein is up more than 16% at the time of writing, doing its best to keep lithium in the frame today.
The company has announced that a tenement-wide soil-sampling operation has now been completed at the Lady Grey lithium project.
And in case you’re wondering, yes that has some “nearology” vibes, being adjacent to Covalent Lithium’s (SQM & Wesfarmers) big, stonking Earl Grey Mine – a 189Mt at 1.53% Li2O resource at Mount Holland in the Forrestania Greenstone Belt.
Cups of fragrant tea all round to celebrate. Perhaps a tray of Arnott’s Assorted, too. Bags the Scotch Finger. And that chocolate one.
The soil-sampling program collected some 1,900 samples and included several rock chips of “prospective sub crop”.
Cool. But when assays? They’re expected in the coming weeks.
Lanthanein has a farm-in agreement to earn up to 70% of the Lady Grey lithium-tantalum project, by the way. As we reported late last year, it paid Gondwana Resources $1.5m for that right.
Some further recent context > here.
LNR share price
Macro Metals (ASX:M4M)
Probably about time we mentioned this one this week, because it’s now up 86% over the past seven days, 133% over the past month and is clocking in at a 366% gain YTD. It’s also shot up again, about 16% over the past 24 hours.
Maybe there’s something fresh happening we’re unaware of yet, but what else gives? The following might help puts things into perspective.
In March, as you might recall, this iron ore junior made some high-profile boardroom appointments.
Namely, two highly successful small caps mining investors – Tolga Kumova and Evan Cranston, bringing big bucks (subscribing for $1.22m out of a total placement of $1.35m) and big experience and an agenda to help develop Macro’s Pilbara iron ore portfolio.
Macro, formerly known as Kogi Iron, is hoping to “become a multi mine producer” and its assets now include W5, 5km along strike from Fenix Resources’ (ASX:FEX) Iron Ridge mine in the Mid West, and Deepdale, next door to Rio Tinto’s Robe Valley operations and CZR Resources’ (ASX:CZR) Robe Mesa project in the Pilbara.
M4M share price
Cyclone Metals (ASX:CLE)
Just when we thought we were about done here for another article, this one blows in strong… ly, with a 50% gale through and up the bourse on high trading volume.
Just a reminder – prominent WA businessman and former Perth Glory owner Tony Sage is the executive chairman of this $15m iron ore player.
And it looks like he just made, well indirectly, further investment into the company with another 30m shares at $0.001 via PG Partnership (of which Okewood Pty Ltd, a company in which Sage is a director, is a member).
That’s all well and dandy. But the company has this to report, too…
Regarding Cyclone’s Iron Bear project in the Labrador Trough region of Canada, the company notes a “significant mineral resource upgrade”.
It’s talking an Indicated and Inferred Mineral Resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe.
And an Indicated Mineral Resource of 2.15 billion tonnes containing 28.68% total Fe and 19% magnetic Fe.
This is all supported by geophysical analysis, statistical analysis and pilot plant metallurgical test work.
Significant Mineral Resource Upgrade for Project Iron Bear
https://t.co/eq815IFpvj$CLE.ax #IronOre #Mining pic.twitter.com/TZjTH5U0EZ
— Cyclone Metals Ltd (@CycloneMetals) April 10, 2024
CLE share price
At Stockhead we tell it like it is. While KTA, LNR and CLE are Stockhead advertisers, they did not sponsor this article.
The post Resources Top 5: Copper and gold hunter Krakatoa erupts again, editor activates volcano pic ban appeared first on Stockhead.
