Copper-gold hunter SER has strategically raised a whopping $2 million
\nRareX is the latest to nose around niobium, gaining itself a large East Yilgarn project
\nKalgoorlie Gold drills into some thick, high-grade mineralisation
\nStrickland Metals and Cazaly are also flying high in early ASX trade<\/p>\n
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Here are some of the biggest resources winners in early trade, Thursday May 23.<\/em><\/p>\n \u00a0<\/p>\n Strategic Energy Resources is leading the ressie gainers pack at time of writing with a 58% burst out of the intraday gates.<\/p>\n The company has raised $2m via placement to explore the Achilles 1 polymetallic, copper-gold prospect in the South Cobar Basin of NSW.<\/p>\n The placement, done at a small 8.3% discount to the last traded price, is cornerstoned by Datt Capital<\/a>\u00a0and\u00a0Lowell Resources Fund (ASX:LRT).<\/a><\/p>\n The company notes that the funds raised will also be used to explore SER\u2019s broader South Cobar Project along with advancing SER\u2019s other exploration assets and general working capital.<\/p>\n Another piece of news highlighted by the company is the Tony Gu, Datt Capital\u2019s partner and head of research, has been appointed to the SER board as a non-executive director.<\/p>\n<\/div>\n<\/div>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0\n<\/p><\/div>\n Niobium is having something of a moment this week, and RareX is the latest to jump on the bandwagon, buying up a\u00a0large, early stage project in WA\u2019s East Yilgarn region.<\/p>\n It comes after the completion of successful $1.5m, internally brokered, capital raise. That news has pushed up the share price of the rare earths explorer\/developer by an eye-catching 44% at time of writing.<\/p>\n The acquisition has been dubbed the Khaleesi Project and is located along strike from the \u201chighly endowed\u201d Ponton Dyke deposit (most recently held by Galaxy Resources (ASX:GXY)<\/strong><\/a>, since merged with Orocobre (ASX:ORE)<\/strong><\/a>), which has reportedly returned some of Australia\u2019s best rare earth intersections \u2013 up to 28m at 10% total rare earth oxides (TREO) including 6m at 20.57% TREO.<\/p>\n Some other nearology \u2013 Khaleesi is also right next to the Mulga Rocks deposit owned by Deep Yellow (ASX:DYL)<\/strong><\/a> subsidiary Narnoo Mining, and not far from RareX\u2019s Red Dragon REE project.<\/p>\n RareX\u00a0describes Khaleesi as a district scale project, which consists of six tenements acquired for the company (one granted, five pending), totalling 966km2 over the Albany-Fraser Orogen in the Eastern Yilgarn region.<\/p>\n Historically, the site\u2019s exploration focused on gold and half the holes were reportedly not assayed for niobium or rare earths.<\/p>\n There\u2019s strong evidence of the latter, however, with data from the other half that were tested for REEs and niobium showing \u201cbroad areas of elevated niobium \u2013 up to +1,000ppm\u201d.<\/p>\n Source: RareX<\/p>\n The company says it will \u201cimmediately commence a highly targeted exploration program\u201d at Khaleesi. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This WA junior gold explorer is well up today on its fresh discovery of extensive, thick gold mineralisation and anomalism at its Wessex target at the Pinjin project, following the first pass aircore drill program.<\/p>\n New intercepts include: 28m at 1.27g\/t Au from 36m, and 12m at 1.17g\/t Au from 52m.<\/p>\n Pinjin is situated at the southern end of the Pinjin Goldfield and is about 140<\/span> km <\/span>north<\/span>east of <\/span>Kalgoorlie<\/span>\u2013<\/span>Boulder<\/span>. <\/span><\/p>\n KalGold MD noted that the results were exceptional for aircore drilling adding further context:<\/p>\n \u201cThick, coherent zones of shallow gold mineralisation were defined across the tenement boundary from historically recorded gold anomalism.<\/p>\n \u201cThe shape, geometry, and style of gold mineralisation at Wessex displays parallels with Hawthorn Resources\u2019 (ASX:HAW)<\/strong><\/a> neighbouring Anglo Saxon gold deposit, located less than 1 km to the northeast.<\/p>\n \u201cMineralisation at Wessex is open along strike both to the north and south, and down-dip to the east.\u201d \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no news)<\/strong><\/em><\/p>\n Cazaly is also up there. On no fresh news, but a hell of a lot of trading volume and a 33% gain.<\/p>\n And besides, any chance we get to say Cazaly is \u201cup there\u201d, we\u2019re going to take it.<\/p>\n Not sure entirely, or at all, actually, what\u2019s going with CAZ today to substantiate this rise, however. Perhaps the ASX can find out.<\/p>\n The last piece of news of note was detailed in the company\u2019s Quarterly Activities and Cashflow Report in April. Some highlights from that:<\/p>\n \u2022 A drilling contractor was secured for the first drilling program in more than 50 years at the company\u2019s Carb Lake REE project in Ontario, Canada.<\/p>\n \u2022 Drilling is set to get underway there in Q3, pending approvals.<\/p>\n \u2022 Meanwhile, environmental surveys were completed in the recent quarter for first phase of drill testing of a large lithium target at the Kaoko project in Namibia. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Strickland Metals is also enjoying gold\u2019s glow today after drilling results \u2013 including a highlight 17m at 10.6g\/t Au from 144.7m \u2013 at the Palomino prospect \u201cexceeded expectations\u201d.<\/p>\n Palomino is a prospect at STK\u2019s 100% owned <\/span>Yandal Gold Project in WA.\u00a0<\/span><\/p>\n These latest assays have turned high grade at \u201csignificant width\u201d, says the company, and in addition to the highlight above, results also included: 13.7m at 6.3g\/t Au from 133.4m (incl 3m at 20g\/t Au).\u00a0<\/span><\/p>\n Further Palomino assays are \u201cdue <\/span>shortly\u201d<\/span>, along with IP survey results, notes the company, which remains very well funded with about <\/span>$5<\/span>1.4<\/span>m <\/span> in cash at the time of writing.\u00a0<\/span><\/p>\n In other STK news, recently the company\u00a0snapped up the Rogozna gold project in Serbia from Zlatna Reka Resources that contains a mammoth 5.4Moz of gold endowment.<\/p>\n Read more about that > here<\/a><\/p>\n Anthony McClure, Strickland\u2019s chairman, said:<\/span><\/p>\n \u201cThe company is <\/span>expecting reasonably constant drilling and other results over the coming months as assays are returned from the <\/span>Yandal project and drilling <\/span>gets underway at the Rogozna project in Serbia.<\/span>\u201d<\/span><\/p>\n And you can read more about STK\u2019s latest news today > here<\/a><\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While Strickland Metals is a Stockhead advertiser at the time of writing, it did not sponsor this article.\u00a0\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Copper-gold hunter Strategic Energy Resources rakes in $2m. Cazaly also up there<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Strategic Energy Resources (ASX:SER)<\/strong><\/a><\/h2>\n
SER share price<\/h2>\n\n
RareX (ASX:REE)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nREE share price<\/h2>\n\n
\n\u00a0<\/p>\nKalgoorlie Gold Mining (ASX:KAL)<\/a><\/strong><\/h2>\n
\n\u00a0<\/p>\nKAL share price<\/h2>\n\n
\n\u00a0<\/p>\nCazaly Resources (ASX:CAZ)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nCAZ share price<\/h2>\n\n
\n\u00a0<\/p>\nStrickland Metals (ASX:STK)<\/a><\/h2>\n
STK share price<\/h2>\n\n