DeSoto Resources got off to a flyer earlier, on the back of announcing a new rare earths acquisition in the NT
\nMeanwhile Oar Resources has significantly expanded its Brazilian uranium ground
\nAnd OD6 has doubled the resource at its rare earths Splinter Rock project in WA<\/p>\n
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Here are some of the biggest resources winners in early trade, Wednesday May 29.<\/em><\/p>\n \u00a0<\/p>\n DeSoto is this morning\u2019s ressie pace-setter, pulling ahead to a +100% gain early doors before settling into a slightly more cruisey stride around 50% intraday.<\/p>\n The critical minerals exploration junior has announced it\u2019s buying a rare earths project in the Northern Territory called Spectrum, where previous drilling pulled up a highlight 6m at 6.55% total rare earths (TREO) from 248m \u2013 that came within an intercept of 50m at 1.55% TREO<\/span>.<\/p>\n This comes after the company conducted an airborne survey over its Fenton gold project in the Pine Creek region oof the NT.<\/p>\n With a strike length of 4.5km, as well as a large electromagnetic anomaly to the south of it \u2013 it\u2019s a \u201cwalk-up start\u201d for the explorer, noted MD Chris Swallow in a new interview<\/a> with Stockhead<\/em>\u2019s Sarah Hughan.<\/p>\n DeSoto also notes the project contains a large 2km by 0.5km untested strong semi-coincident copper-lead-zinc geochemical and geophysical anomaly, which is about 1.5km along strike from the REE prospect.<\/p>\n The company plans to spend $2 million for exploration activities at Spectrum in its first 15 months, supported by its $6 million cash position.<\/p>\n The Spectrum Project, with historic high-grade Rare Earth Element intercepts in the Pine Creek region of the #NorthernTerritory<\/a>. <\/p>\n Best intercept of 50m @ 1.55% TREO, incl. 12m @ 4.51% TREO (14.9% Nd\/Pr) <\/p>\n Learn more: https:\/\/t.co\/JrqorS0kSr<\/a> #ASXnews<\/a> #REE<\/a> #NT<\/a> pic.twitter.com\/WD6WfJxQGs<\/a><\/p>\n \u2014 DeSoto Resources (@DesotoResources) May 28, 2024<\/a><\/p>\n\n Swallow added:<\/p>\n \u201cThis highly complementary acquisition gives us a strategic, critical minerals position in the Northern Territory.<\/p>\n \u201cWith the confirmed mineralisation and supporting geophysical anomalies in the surrounding Fenton Project, we are now positioned for an accelerated phase of exploration and drilling.\u201d<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Oar, a uranium and critical minerals explorer and aspiring producer, has\u00a0announced the expansion of its Brazilian assets by the pegging of an additional 650km2 of prospective ground in the states of Rio Grande Do Sul and Goi\u00e1s.<\/p>\n This is an increase of 283% and brings the total Brazilian landholding to 880km2. The acquired tenements are considered prospective for sandstone and sedimentary hosted uranium mineralisation.<\/p>\n Both projects are located within 10km of historic uranium occurrences identified by the Industrias Nucleares do Brasil (INB), which is a Brazilian state-run company engaged in the prospection, exploration and extraction of uranium and other heavy metals.<\/p>\n OAR notes it\u2019s working closely with the INB to ensure that all regulations pertaining to the exploration of uranium are being followed.<\/p>\n OAR Resources CEO Paul Stephen noted in a prepared statement:<\/p>\n \u201cThe acquisition of these two highly prospective tenements in the Rio Grande Do Sul and Goi\u00e1s states of Brazil support our strategic objective of developing a diversified project portfolio for a decarbonised future.<\/p>\n \u201cThe additional Amorinopolis and Grande Project tenements are well located within 10 kilometres of historic uranium occurrences identified by INB and we are working closely with INB to ensure we can rapidly develop these projects over time.\u201d<\/p>\n What happens next? Field work, with drill target identification the aim for June.<\/p>\n Oar Resources Limited (ASX: OAR) is pleased to announce the expansion of its Brazilian assets by the pegging of an additional 650km2 of prospective ground in the states of Rio Grande Do Sul and Goi\u00e1s. <\/p>\n Read more: https:\/\/t.co\/oUA3sdiVJB<\/a> pic.twitter.com\/03lOIJD0vQ<\/a><\/p>\n \u2014 Oar Resources (@OarResources) May 29, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> OD6 Metals has doubled the resource at its rare earths Splinter Rock project \u2013 to 682Mt at 1,338ppm TREO.<\/p>\n \u201cThis mineral resource estimate sets OD6 apart from any other clay-hosted rare earth project in Australia, and highlights Splinter Rock to be one of the largest and highest-grade projects globally,\u201d MD Brett Hazelden says.<\/p>\n Splinter Rock is located in the Esperance-Goldfields region of Western Australia \u2013 about 30 to 150km northeast of the major port and town of Esperance.<\/p>\n The Total Resource of 682Mt includes an Indicated Resource of 119Mt at 1,632ppm TREO, and this, notes the company, will help enable the completion of a Scoping Study, due at the end of this year.<\/p>\n @Od6Metals<\/a> is delighted to announce a MRE update for its Splinter Rock Rare Earth Project<\/p>\n Total MRE\u00a0doubles in size to 682Mt @ 1,338ppm TREO at 1,000ppm cut-off grade, including an\u00a0Indicated Resource of 119Mt @ 1,632ppm TREO at Inside Centre<\/p>\n $OD6 ASX https:\/\/t.co\/1mYcZqXpct<\/a> pic.twitter.com\/e075mwk5Mb<\/a><\/p>\n \u2014 OD6 Metals (@Od6Metals) May 28, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Some lithium love, at last\u2026<\/p>\n Pursuit has \u201csignificant high-grade lithium\u201d news resulting from its maiden Stage 1 drilling program at the Maria Magdelena tenement of its Rio Grande Sur brine project in Argentina.<\/p>\n That\u2019s a vast landholding that comprises five tenements covering 9,260 hectares in the province of Salta.<\/p>\n Intercepts have occurred in drill hole numero uno, at shallow depths of about 131 metres. Highlights include:<\/p>\n \u2022 408mg\/L (\u201cmilligrams per liter of Lithium\u201d) from an interval of 17.75m to 25.80m Significantly, says Pursuit, grades of over 600mg\/Li are the highest achieved at this shallow depth.<\/p>\n The company notes that additional lithium-bearing brines continue to be intercepted below 130m to a current depth of 500m, with assays pending and results expected over the coming weeks.<\/p>\n Pursuit MD and CEO Aaron Revelle said:<\/p>\n \u201cThe initial results from DDH-1 are particularly sensational as we progress our initial exploration phase of the Rio Grande Sur Project.<\/p>\n \u201cWith these initial intercepts we are continuing the significant advancements we have made in our understanding of the RGS Project mineralisation, with the results commencing to demonstrate the potential significant scale of the project,\u201d adding that, with the \u201coutstanding high grade brine intercepts\u201d the project is \u201cexceeding our expectations\u201d.<\/p>\n Read more here ><\/p>\n High grades of #lithium<\/a> brine have already been intersected at $PUR<\/a> Pursuit Minerals\u2019 Rio Grande Sur project in Argentina from just the first diamond hole as part of Stage 1 resource expansion, showing up to 620mg\/l lithium (Li) via @StockheadAU<\/a> https:\/\/t.co\/guqdJCZ2eK<\/a><\/p>\n \u2014 Pursuit Minerals Limited (@PursuitMins) May 29, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on Monday\u2019s news)<\/strong><\/em><\/p>\n Minerals exploration minnow DY6 is still trading nicely off Monday\u2019s news that saw it burst up more than 300% at one stage earlier this week.<\/p>\n There\u2019s nothing fresh to report, but in case you missed it:<\/p>\n \u201cExceptional\u201d high grade historical drill hits confirm the Tundulu rare earths project in Malawi as a significant asset, says the company.<\/p>\n As we\u00a0reported earlier<\/a>, Malawi has been brewing as an attractive African mining jurisdiction since its government installed its Mines and Minerals Act in March last year, which incorporated incentives for foreign investment into the sector.<\/p>\n The country\u2019s president, Lazarus Chakwera, has bold plans to increase the mineral sector\u2019s long-term contribution to GDP from today\u2019s ~1% up to 20%.<\/p>\n Highlights from the 7,000m program in 2014 included 101m at 1.02% TREO and 3.6% phosphate, from surface, as well as 91m 1.09% TREO and 7.6% phosphate from 46m.<\/p>\n DY6 CEO, Mr Lloyd Kaiser said:<\/p>\n \u201cThese additional historical results further illustrate the potential for a significant carbonatite rare earth deposit with scope to expand the extent of mineralisation over the southern and western side of Nathace Hill and across Tundulu Hill, areas that remain largely unexplored.<\/p>\n \u201cWe look forward to commencing the preliminary geological model from all the historic drill data. This will improve our knowledge of the mineralised nature of Tundulu and assist in mapping the next phase of exploration activity.\u201d<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While DeSoto Resources, Pursuit Minerals and DY6 Metals are Stockhead advertisers, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: DeSoto sets pace with REE acquisition; OAR cuts through with Brazilian uranium expansion<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"DeSoto Resources (ASX:DES)<\/a><\/h2>\n
\n\u00a0<\/p>\nOar Resources (ASX:OAR)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nOD6 Metals (ASX:OD6)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nPursuit Minerals (ASX:PUR)<\/strong><\/a><\/h2>\n
\n\u2022 412mg\/L from an interval of 38.85m to 48.30m
\n\u2022 424mg\/L from an interval of 56.40m to 64.50m<\/p>\n
\n\u00a0<\/p>\nDY6 Metals (ASX:DY6)<\/strong><\/a><\/h2>\n