{"id":10618,"date":"2024-06-06T03:47:26","date_gmt":"2024-06-06T03:47:26","guid":{"rendered":"https:\/\/economicherald.net\/?p=10618"},"modified":"2024-06-06T03:47:26","modified_gmt":"2024-06-06T03:47:26","slug":"resources-top-5-firetail-heats-up-on-canadian-copper-zinc-n-silver-project-gain","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10618","title":{"rendered":"Resources Top 5: Firetail heats up on Canadian copper, zinc \u2018n\u2019 silver project gain"},"content":{"rendered":"

\u00a0Firetail Resources double bags intraday gains as it moves into Newfoundland, rich in copper, zinc and silver mineralisation
\nAdavale Resources has news regarding a uranium target at the Marree Embayment Project in South Australia<\/span>
\nMeanwhile Dreadnought Resources, Brazilian Rare Earths and European Lithium are all in the fast-gains lane, too\u00a0<\/p>\n

\u00a0<\/p>\n

Here are some of the biggest resources winners in early trade, Wednesday June 5.<\/em><\/p>\n

\u00a0<\/p>\n

Firetail Resources (ASX:FTL)<\/strong><\/a><\/h2>\n

Battery metals hunter Firetail is spreading its wings into a copper-zinc-silver project in Newfoundland, Canada and is soaring more than 115% on the news at the time of writing.<\/p>\n

The company has announced it\u2019s set to acquire up to 80% of the York Harbour project via a staged earn-in agreement.<\/p>\n

York Harbour is a Cyprus-style volcanogenic massive sulphide (VMS) exploration project, and it\u2019s situated 180km west-south-west of FireFly Metals\u2019 (ASX:FFM)<\/strong><\/a> Green Bay copper project, which currently hosts a high-grade copper resource of 39.2Mt at 2.1% for 811,000t CuEq.<\/p>\n

Historical underground production at the site \u2013 waaaay back between 1898 and 1913 \u2013 resulted in 100,000 tonnes mined at 3-12% copper, 7% zinc and 1-3oz\/t silver.<\/p>\n

Shallow exploration to less than 300m has only ever been completed in the area, with exploration so far limited to the old York Harbour mine and the Number 4 Pond target. Multiple intercepts of note have included: 29.0m at 5.25% Cu, 9g\/t Ag from 147m; and 3.24m at 9.54% Cu, 3.5% Zn, 10g\/t Ag from 167.8m.<\/p>\n

\u00a0<\/p>\n

#ASXNews<\/a>$FTL.AX<\/a> has executed a Binding Option Agreement for the acquisition of up to 80% of York Harbour #Copper<\/a>\u2013#Zinc<\/a>\u2013#Silver<\/a> Project in Newfoundland, Canada, via a staged earn-in.<\/p>\n

York Harbour is a Cyprus-style #VMS<\/a> exploration project.https:\/\/t.co\/0qHhefxkub<\/a>#FTL<\/a> #ASX<\/a> pic.twitter.com\/dbLcZR0gA7<\/a><\/p>\n

\u2014 Firetail Resources (@FiretailRes) June 6, 2024<\/a><\/p>\n\n

\u00a0<\/p>\n

In addition and connected to the acquisition, Firetail is planning to raise approximately $1.57m (before costs) by way of a placement to strategic investors together with a non-renounceable entitlement issue to existing eligible shareholders.<\/p>\n

Firetail\u2019s non-exec director Simon Lawson said:<\/p>\n

\u201cThe [York Harbour] project is an advanced high-grade copper-focussed opportunity for Firetail to get involved in at just the right time.<\/p>\n

\u201cThe previous history of copper mining at the project and a number of existing significant copper-zinc-silver drill hits makes this a \u201cwalk-up\u201d project of excellent exploration potential.\u201d<\/p>\n

Read more > here<\/a><\/p>\n

\u00a0<\/p>\n

Adavale Resources (ASX:ADD)<\/strong><\/a><\/h2>\n

Adavale has also been climbing today after announcing that exploration at its Marree Embayment Project (MEP) <\/span>has identified <\/span>a significant new area for uranium deposition<\/span>\u00a0that will be a priority drill target<\/span>\u00a0for the company.<\/span><\/p>\n

The company has revealed it\u2019s delivered positive results from its initial exploration program in the Mundowdna area, now part of the MEP. The findings reveal a promising new uranium deposit zone, marked by several surface features and anomalies.<\/p>\n

Adavale says the discovery will be a key drilling target as it expands its focus on uranium exploration in South Australia and the data collected will guide future exploration efforts in the region.<\/p>\n

ADD\u2019s executive director David Riekie said:<\/p>\n

\u201cThe positive outcomes generated by our maiden, multi-technique exploration program indicates a uranium-rich paleo drainage system.<\/p>\n

\u201cWhat is most exciting is that collectively this data has now identified a significant basement structure at depth that appears to be a large trap site for the ancient uraniferous groundwaters washing\/shedding from the adjacent Flinders Ranges.<\/p>\n

\u201cThis area of the Marree Embayment will be a priority uranium exploration focus. Most pleasing is this basement structure does not appear to have been previously recognised or drilled.\u201d<\/p>\n

#ASXNews<\/a>$ADD.AX<\/a> returned positive results for the maiden Mundowdna exploration program on EL6821 & EL6957, at the Marree Embayment Project. #ADD<\/a>\u2018s results identified a #uranium<\/a> deposition area that will be a priority drill target.https:\/\/t.co\/bCYofZBsik<\/a>#ASX<\/a> pic.twitter.com\/smirilVvz2<\/a><\/p>\n

\u2014 Adavale Resources Limited (@AdavaleL) June 6, 2024<\/a><\/p>\n\n

\u00a0<\/p>\n

\n
\n

Dreadnought Resources (ASX:DRE)<\/strong><\/a><\/h2>\n<\/div>\n<\/div>\n
\n
\n
\n

Multi-commodity minerals explorer Dreadnought is sailing with intent up the bourse today after announcing an update regarding its Mangaroon Ni-Cu-PGE JV & Au\/REE project.\u00a0<\/span><\/p>\n

More specifically, the news relates to recent mineralogical work at the Gifford Creek Carbonatite at Mangaroon. <\/span><\/p>\n

The company confirms the dominant Gifford Creeek niobium mineral is pyrochlore \u2013 a high niobium mineral (>50%) from which ~95% of global niobium is produced.<\/span><\/p>\n

Most niobium is used in the global steel industry and it also has strong superconducting properties.<\/p>\n<\/div>\n

\n

The company notes that an advantage of the Gifford <\/span>Creek Carbonatite is in a Tier 1 jurisdiction, close to existing infrastructure, and has\u00a0grade\/scale potential.<\/span><\/p>\n

Significant intercepts from limited drilling include: 48m at0.8% Nb2O5 from 30m, including 36m at 1.0% Nb2O5 from 39m; and 48m at 0.7% Nb2O5 from 63m, including 9m at 1.4% Nb2O5 from 72m.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\u00a0<\/p>\n

Brazilian Rare Earths (ASX:BRE)<\/strong><\/a><\/h2>\n

BRE does what it says on the tin. It\u2019s hunting for rare earths. In Brazil.<\/p>\n

It\u2019s up a goodly amount today on the discovery of \u201cultra-high\u201d grade REE-Nb-Sc-U at its Sulista project, located ~80km southwest of its Monte Alto project.<\/p>\n

Sulista is a \u201cdistrict-scale exploration\u201d operation with a total tenement package over 10x the size of the Monte Alto project and a total exploration area of ~10km by ~5km.<\/p>\n

The rare earth grades discovered measure up to 22.4% TREO.<\/p>\n

BRE is talking \u201cexceptional\u201d REE-Nb-Sc-U grades of up to 39,770 ppm NdPr, 1,579ppm DyTb, 4,821ppm niobium, 241ppm scandium and 2,422ppm uranium.<\/p>\n

For some context, we defer to the company\u2019s MD and CEO,\u00a0Bernardo da Veiga:<\/p>\n

\u201cThis new discovery of ultra-high grade REE-Nb-Sc hard rock mineralisation at the Sulista project confirms that we have an exceptional province scale exploration opportunity,\u201d he said, adding:<\/p>\n

\u201cThe Sulista discovery is located nearly 80km southwest of Monte Alto, near the southern end of the mineralised Volta do Rio Plutonic Suite trendline that runs down the extensive 180km spine of BRE\u2019s rare earth province.\u201d<\/p>\n

Here\u2019s a map.<\/p>\n

Source: BRE<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

European Lithium (ASX:EUR)<\/a><\/strong><\/h2>\n

European Lithium is double digits to the good today after announcing that car maker BMW is committing to the explorer and developer\u2019s Wolfsberg lithium project located in Carinthia, 270 km south of Vienna, Austria.<\/p>\n

BMW has transferred funds of US$15 million to ECM Lithium AT GmbH, a wholly owned subsidiary of Critical Metals Corp (Nasdaq: CRML) in relation to the offtake of battery grade lithium hydroxide (LiOH) from the Wolfsberg project, which is to be offset against LiOH delivered to BMW.<\/p>\n

EUR\u2019s high-profile chairman Tony Sage digs it:<\/p>\n

\u201c<\/span>This is a huge milestone for the Wolfsberg project,\u201d he enthused, \u201cwhich now <\/span>paves the way for the next financing steps<\/span>.\u201d\u00a0<\/span><\/p>\n

BMW Commits to Wolfsberg Lithium Projec<\/p>\n

https:\/\/t.co\/khgsqUdOei<\/a>@TonySage7237<\/a> $EUR.ax<\/a> #Lithium<\/a> pic.twitter.com\/qBES4SI3Zg<\/a><\/p>\n

\u2014 European Lithium (@EuropeanLithium) June 5, 2024<\/a><\/p>\n\n

\u00a0<\/p>\n

At Stockhead we tell it like it is. While Firetail Resources is a Stockhead advertiser at the time of writing, it did not sponsor this article.\u00a0<\/em><\/p>\n

<\/span><\/p>\n

The post Resources Top 5: Firetail heats up on Canadian copper, zinc \u2018n\u2019 silver project gain<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0Firetail Resources double bags intraday gains as it moves into Newfoundland, rich in copper, zinc and silver mineralisation Adavale Resources has news regarding a uranium [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10619,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nResources Top 5: Firetail heats up on Canadian copper, zinc \u2018n\u2019 silver project gain - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10618\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Top 5: Firetail heats up on Canadian copper, zinc \u2018n\u2019 silver project gain - 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