Golden State Mining spots beaut pegmatite dykes at its Paynes Find project, WA
\nBoab Metals intersects zinc-lead sulphide up in the Kimberley
\nNWC, WML and OZM are also making moves on the bourse today<\/p>\n
Here are the biggest resources winners in early trade, Wednesday November 8.<\/p>\n
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Small market-capped explorer GSM has been placing a fair amount of its recent focus<\/a> on the highly prospective Yule project in the Pilbara where it\u2019s hunting for Tier 1 gold and lithium not far from De Grey Mining\u2019s (ASX:DEG)<\/strong><\/a>\u00a0world class Hemi gold discovery.<\/p>\n However, it\u2019s up on news today from its Paynes Find lithium project further to the south in the Murchison region of WA.<\/p>\n Essentially, numerous outcropping pegmatite dykes have been identified from field observation work at the site, \u201cwithin elevated to anomalous lithium-caesium-tantalum (LCT) geochemistry envelopes\u201d.<\/p>\n The company notes that rock chip assay results from 19 samples are expected in early December and that drill planning is underway for up to 8000 metres of AC and RC action.<\/p>\n $GSM<\/a> notes the presence of pegmatite intrusives at its Paynes Find (Li) Project in #WA<\/a>:<\/p>\n Pegmatite outcrops within elevated to anomalous #LCT<\/a> geochemistry envelopes. Assay results ~ early Dec<\/p>\n AC\/RC drill planning underway up to 8000m#ASX<\/a> report https:\/\/t.co\/EC5QNAashz<\/a> pic.twitter.com\/apKZA8BvRa<\/a><\/p>\n \u2014 Golden State Mining (@MiningState) November 7, 2023<\/a><\/p>\n\n Golden State\u2019s MD, Michael Moore said:<\/p>\n \u201cThe GSM team\u2019s latest field trip to our Paynes Find lithium project was following up on previously reported anomalous lithium, caesium and rubidium assay results from recent soil sampling programs.<\/p>\n \u201cThe Paynes Find project was pegged by GSM after a high-level targeting exercise identified it as having the right geological attributes to host lithium mineralisation. We now look forward to finalising drill target areas and undertaking drilling in early 2024.\u201d<\/p>\n \u201cPurple vein, purple vein\u2026\u201d\u00a0 Source: Golden State Mining ASX announcement<\/p>\n GSM share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Base and precious metals explorer Boab is up and to the right today on news it\u2019s made significant intercepts at the Keep Seismic prospect within its 75% owned Sorby Hills lead-silver-zinc project in the Kimberley region of WA.<\/p>\n That\u2019s a project about 50km north east of Kununurra and 150km from Wyndham Port. It\u2019s beautifully remote up there.<\/p>\n Headlining base metal highlights as follows:<\/p>\n \u2022 Hole SHSD_185 \u2013 9.55m at 5.10% PbEq (2.59%Pb& 2.26% Zn) and 17.6 g\/t Ag from 242.55m.<\/p>\n \u2022 This includes \u2013 3.12m at 13.43% PbEq (6.37% Pb & 6.36% Zn) and 26.5 g\/t Ag from 245.36m.<\/p>\n Boab\u2019s MD and CEO, Simon Noon expressed excitement over the zinc-lead sulphide intersections, adding:<\/p>\n \u201cThis is an outstanding success given the conceptual nature of the target and its location in an area, and at a depth where no mineralisation has been intersected before.<\/p>\n \u201cThe location of the drill hole sits around 2km away from the closest ore reserves at Sorby Hills and will be a catalyst for further exploration within our mining tenements. It is clear there is more to be discovered at Sorby Hills.\u201d<\/p>\n Source: Boab Metals ASX announcement<\/p>\n BML share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n NWC, a $70m market capped explorer hunting for minerals in North America, is up on the news it\u2019s entered into a binding agreement with\u00a0 Trident Royalties Plc, which will provide $11 million in exchange for a 0.9% NSR royalty over its high-grade Antler Copper Project in Arizona.<\/p>\n New World says it will retain the right to buy-back 0.3% of the royalty and the funding will be used to:<\/p>\n \u2022 accelerate resource expansion and discovery drilling, and,<\/p>\n \u2022 expedite the development of copper mining operations at Antler.<\/p>\n New World\u2019s MD Mike Haynes grabbed the mic, or at least the keyboard:<\/p>\n \u201cWe are very pleased to have secured $11 million of funding, which will enable New World to continue to expand the resource base while also expediting development activities at the high-grade Antler Copper Project, without diluting our shareholders.<\/p>\n \u201cTrident\u2019s royalty funding follows a competitive process. Trident has undertaken extensive due diligence on the project, so this represents another strong endorsement of New World\u2019s expansion and development strategy to become a significant North American copper producer.\u201d<\/p>\n NWC share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Goldie\/lithium play OzAurum has copped a \u201cplease explain\u201d from the ASX regarding recent trading activity of its share price, which is up a whopping +52% this week.<\/p>\n OzAurum dead-batted the queries back up the pitch. It\u2019s not very exciting stuff, but you can read those responses in its reply to the ASX here<\/a>.<\/p>\n What\u2019s more exciting, though, is the fairly recent news regarding OZM\u2019s\u00a0Linopolis Jaime hard rock lithium project acquisition in the State of Minas Gerais, Brazil.<\/p>\n As Stockhead<\/em> ressie expert Reuben Adams put it:<\/p>\n \u201cA sniff of Sigma-like success<\/a>\u00a0has early-stage lithium explorers flooding Minas Gerais and other mining-friendly Brazilian hotspots.<\/p>\n \u201cOZM\u2019s deal announced last month was a game changer, with the stock soaring 130% on volume thanks to \u201ca +7m wide spodumene zone with an average grade of spodumene crystals of 6.94% LiO2\u201d at the Jaime Linopolos project.\u201d<\/p>\n This<\/em> is the kind of action that sends a stock stonking. As for this week\u2019s movement, a bit like OZM, we\u2019ll keep ears to the ground.<\/p>\n And\u2026 because we kinda love this pic here at Stockhead<\/em>, here\u2019s a reprise, in all its spod-tastic, high-helmet-riding glory:<\/p>\n Source: OZM ASX announcement, September<\/p>\n OZM share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n This Adelaide-based small-capped explorer (gold, PGEs, nickel, copper, cobalt and\u2026 yep, lithium) makes the ressie-gainers grade today with a +20% move so far.<\/p>\n News? Yes, of the shares-placement variety:<\/p>\n Woomera notes it has \u201cissued 237,500,004 ordinary shares to professional and sophisticated investors pursuant to the share placement announced on 1 November 2023.\u201d<\/p>\n The company issued a total of 237,500,004 ordinary shares at $0.009per share to raise $2.1m, with 142,058,029 shares \u201cissued pursuant to the company\u2019s 15% placement capacity\u201d per ASX rulings.<\/p>\n Woomera\u2019s chief focus for now is on battery metals (lithium nickel, copper + PGEs) and gold in the Yilgarn and Pilbara regions of Western Australia, plus the Musgrave Province in South Australia along with copper-gold mineralisation in the Gawler region of South Australia.<\/p>\n WML share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n At Stockhead we tell it like it is. While Golden State Mining is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Paynes spotting pushes GSM higher after finding peggies with lithium potential<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Boab Metals (ASX:BML)<\/strong><\/a><\/h2>\n
New World Resources (ASX:NWC)<\/strong><\/a><\/h2>\n
OzAurum Resources (ASX:OZM)<\/strong><\/a><\/h2>\n
Woomera Mining (ASX:WML)<\/strong><\/a><\/h2>\n