{"id":11232,"date":"2021-09-16T02:02:39","date_gmt":"2021-09-16T02:02:39","guid":{"rendered":"https:\/\/economicherald.net\/?p=11232"},"modified":"2021-09-16T02:02:39","modified_gmt":"2021-09-16T02:02:39","slug":"resources-top-5-punters-come-back-for-another-slice-of-sweet-sweet-yellowcake","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11232","title":{"rendered":"Resources Top 5: Punters come back for another slice of sweet, sweet yellowcake"},"content":{"rendered":"

Uranium focussed stocks Delecta, Toro, and Valor surge higher
\nCullen may be tickling the edges of\u00a0 new nickel-copper-PGE discovery near Chalice Mining\u2019s company-making \u2018Julimar\u2019 project<\/p>\n

Here are the biggest small cap resources winners in early trade, Thursday September 16.<\/p>\n

\u00a0<\/p>\n

LOCKSLEY RESOURCES (ASX:LKY)<\/a><\/h2>\n

(Up on no news)<\/strong><\/em><\/p>\n

The $8m market cap copper explorer \u2013 which only listed in July \u2013 ran hard before going into a trading halt, pending a response to an ASX price and volume query.<\/p>\n

It\u2019s 470km2\u00a0\u2018Tottenham\u2019 copper gold project in the mineral rich Lachlan Fold of NSW<\/a> is a historic site, largely underexplored by modern standards.<\/p>\n

Locksley has set an initial exploration target at the \u2018Carolina\u2019 and \u2018Mount Royal\u2019 deposits of 90,600 gold ounces and 86,100 tonnes of copper.<\/p>\n

Drilling now underway to upgrade this potential project resource to JORC 2012 standards and extending it with immediate exploration.<\/p>\n

The stock is currently up 40% on its IPO price of 20c per share.<\/p>\n\n

<\/span>\u00a0<\/p>\n

TORO ENERGY (ASX:TOE)<\/a><\/h2>\n

TOE\u2019s \u2018Wiluna\u2019 uranium project is one of WA\u2019s only advanced uranium projects with environmental approval from the state and federal governments.<\/p>\n

The first phase of an updated scoping level engineering study for the standalone mining and processing of the \u2018Lake Maitland\u2019 uranium deposit at Wiluna is now complete.<\/p>\n

The vanadium resource is currently being integrated into the uranium resource block model after testing showed \u201cexcellent vanadium recovery\u201d.<\/p>\n

This could represent a valuable V2O5 by-product for a Lake Maitland mine, the company says.<\/p>\n

\u201cUltimately, it is anticipated that the re-engineering study will result in a lowering of the optimised mining cut-offs and therefore more of the resource being processed over the life of the mine, which may result in a significant increase in the Wiluna Uranium Project\u2019s value,\u201d it says.<\/p>\n

The ~$200m market cap stock is up 420% over the past month, and 160% year-to date.<\/p>\n\n

<\/span>\u00a0<\/p>\n

CULLEN RESOURCES (ASX:CUL)<\/a><\/h2>\n

Cullen may be tickling the edges of a new nickel-copper-PGE discovery, a proverbial stone\u2019s throw from Chalice Mining\u2019s (ASX:CHN)<\/a> company-making Julimar project.<\/p>\n

Drilling at \u2018Wongan Hills\u2019 \u2013 designed to tested a modelled ground EM anomaly plate \u2014 has hit a 2m semi massive to massive sulphide banded iron formation (BIF), 125m downhole.<\/p>\n

The nickel-rich mineralisation intersected in [drill hole] RC6 is open in multiple directions, Cullen says.<\/p>\n

Importantly, this magnetic trend stretches for ~15km, crops out very rarely as BIF, and includes Cullen\u2019s newly recognised Ni-Cu-PGE target at the \u201cJackaby\u201d prospect ~13km to the north.<\/p>\n

This magnetite trend has never been drilled, it says.<\/p>\n

Samples from RC6 will now be re-assayed for PGE elements and further drilling for nickel sulphides \u201cis a priority\u201d.<\/p>\n

$8m market cap Cullen is up 20% over the past month.<\/p>\n\n

<\/span>\u00a0<\/p>\n

DELECTA (ASX:DLC)<\/a><\/h2>\n

(Up on no news)<\/em><\/strong><\/p>\n

Delecta is probs one of the cheapest uranium-focussed stocks on the ASX right now.<\/p>\n

This ~$17m market cap minnow chose a good time to resume exploration at the\u00a0early-stage Rex uranium project in Colorado<\/a>.<\/p>\n

Sampling and mapping programs have, so far, returned high-grade uranium and vanadium results.<\/p>\n

Exploration is ongoing, with assays from the current program expected to be returned in the coming weeks.<\/p>\n

\u201cDue to renewed optimism surrounding future uranium pricing, the company recently decided to ramp up exploration at its majority owned REX uranium-vanadium project,\u201d DLC boss Malcolm Day says September 13.<\/p>\n

\u201cThe project\u2019s history of uranium mining, its proximity to operating infrastructure and the prevailing supportive government regime, bodes well for the development of the project.\u201d<\/p>\n\n

<\/span>\u00a0<\/p>\n

VALOR RESOURCES (ASX:VAL)<\/a><\/h2>\n

(Up on no news)<\/em><\/strong><\/p>\n

This\u00a0Tolga Kumova favourite<\/a>\u00a0has uranium projects in Canada\u2019s Athabasca Basin.<\/p>\n

Valor dropped some serious rock chip samples from the \u2018Hook Lake\u2019 uranium project at the end of August, with uranium oxide grades as high as 59.2% with rare earths, lead and silver potential to boot.<\/p>\n

Kumova said the mineralisation combination was unique.<\/a><\/p>\n

\u201cTo have all of those minerals in the same place is incredibly exciting,\u201d he said.<\/p>\n

\u201cI\u2019ve been looking to find analogous deposits and I just can\u2019t, I haven\u2019t seen it and I couldn\u2019t find anything like it.\u201d<\/p>\n

The $71m market cap stock is up 140% over the past month.<\/p>\n\n

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

The post Resources Top 5: Punters come back for another slice of sweet, sweet yellowcake<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Uranium focussed stocks Delecta, Toro, and Valor surge higher Cullen may be tickling the edges of\u00a0 new nickel-copper-PGE discovery near Chalice Mining\u2019s company-making \u2018Julimar\u2019 project [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11233,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nResources Top 5: Punters come back for another slice of sweet, sweet yellowcake - 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=11232\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Top 5: Punters come back for another slice of sweet, sweet yellowcake - 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