Augustus\u2019 rock chip samples at Ti Tree hit 35%, shares go ballistic
\nClara and Savannah finally get Ashford deal over the line
\nAdavale looks to start drilling for uranium in South Australia<\/p>\n
Here are the biggest small cap resources winners in morning trade, Thursday, July 11. Prices accurate at time of writing.<\/p>\n
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Rock chip samples showing enormous percentages of copper and gold from its Ti Tree project in WA\u2019s Gascoyne \u2013 up to an eye-whopping 35% Cu and 10.1g\/t Au \u2013 have put an absolute rocket under junior explorer AUG today.<\/p>\n
To put this in perspective, if you found copper grades in rock chips of ~2%, you\u2019re doing pretty well and it would warrant further investigation.<\/p>\n
Huge grades of up to 236g\/t silver and 5% molybdenum have been found, too \u2013 and all aforementioned mineralisations were found across the Tiberius, South Snowy, Claudius and Justinian prospects.<\/p>\n
AUG\u2019s Ti Tree project straddles the Ti Tree Shear Zone, where all sorts of mineralisation is on offer and ASX explorers\u2019 Delta Lithium (ASX:DLI)<\/strong><\/a> and Voltaic Strategic Resources (ASX:VSR)<\/strong><\/a> are digging up lithium and Dreadnought Resources (ASX:DRE)<\/strong><\/a> has a rare earths play.<\/p>\n \u201cThese rock chips continue to highlight the untapped potential of the Ti Tree project to host significant precious and base metal mineralisation,\u201d AUG GM of exploration Andrew Ford says.<\/p>\n \u201cDrilling is planned for Q3 2024 with assistance from the co-funded EIS drilling grant as announced 2nd of May 2024.\u201d<\/p>\n AUG was heavily traded on open and shares have skyrocketed +142%, up from 5.4c to 9.2c per share at time of writing.<\/p>\n \u00a0<\/p>\n There\u2019s 35% copper in these bad boys. Source: AUG.<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span><\/span>\u00a0<\/p>\n LIT subsidiary Envirostream has achieved a maiden operating cash profit from its battery-recycling gig that takes batteries from bigwig customers such as LG Energy Solution, Volvo and Hyundai and sells them for profit.<\/p>\n Last quarter, Envirostream achieved collection volumes of 445t, revenue of $2.50m and a gross profit of $1.56m.<\/p>\n Not a bad side hustle for the lithium-focused company that aims to disrupt the Li2O supply chain with innovative technologies.<\/p>\n It marks another milestone in the company\u2019s strategic shift to an upstream-focused operational model that aims to increase its \u2018fee for service\u2019 proportion of the recycling revenue mix.<\/p>\n Shares in the junior were up 38.9% to swap at 2.5c per share.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n C7A has just sold its share in London-based First Tin for $4.3m, a game-changing deal that gives it cash on hand to complete the purchase of the remaining 60% of the Ashford coking coal project in NSW from SVG, which owns Renison Coal.<\/p>\n The total cost of the deal is US$3.95m, leaving more than enough cash for C7A to discharge its $1.1m debt facility.<\/p>\n SVG will walk away with a 19.5% interest in C7A too, making it a major shareholder.<\/p>\n The deal had been stalled for a couple of months and investors got a bit jumpy, depressing both stocks\u2019 share price \u2013 however, now it\u2019s over the line, both companies have turned the corner.<\/p>\n Shares shot into space on the news and are up 145% for C7A trading at 2.7c per share and up 30.44% to 3c per share for SVG.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n Yellowcake fever is still prevalent, with U3O8 bouncing around the $80-$90\/lb mark, way up from the same time last year when uranium prices were roughly $50\/lb.<\/p>\n No wonder then, that ADD has announced it\u2019s rapidly moving towards an extensive AC drilling program and is doubling its prospective uranium tenure in South Australia.<\/p>\n After acquiring the EL6553 licence from Kilonova Metals to broaden the scope of its Maree Embayment project to 2258km2, it\u2019s adding another 2446km2 to its landholdings.<\/p>\n The uranium explorer is running fingers over the MacDonnell Creek and George Creek prospects, which are close to the uranium-rich inliers of the northern Flinders Ranges where the nearby Beverley and Honeymoon U308 deposits are embedded.<\/p>\n A 3000m AC drill campaign is about to kick off and will be the first time drilling has been conducted at the prospects since Cauldron Energy\u2019s (ASX:CXU)<\/strong><\/a>\u00a0foray into the area.<\/p>\n Shares in the ASX penny stock soared 25% on open trade today to 0.5c.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n Anson Resources (ASX:ASN)<\/strong><\/a> \u2013 Up on no news +20%<\/strong> \u00a0<\/p>\n At Stockhead we tell it like it is. While Adavale Resources is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n The post Resources Top 5: 35pc copper fit for a Roman emperor rocks morning trade<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Lithium Australia (ASX:LIT)<\/strong><\/a><\/h2>\n
Clara Resources Australia (ASX:C7A)<\/strong><\/a> \/ Savannah Goldfields (ASX:SVG)<\/strong><\/a><\/h2>\n
Adavale Resources (ASX:ADD)<\/strong><\/a><\/h2>\n
Other resources stocks up on early trade:<\/h2>\n
\nLachlan Star (ASX:LSA)<\/strong><\/a> \u2013 Up 32%<\/strong>
\nSolis Minerals (ASX:SLM)<\/strong><\/a> \u2013 Up 21.7%<\/strong><\/p>\n