Flynn Gold soars on a new gold vein discovery with rock chips of up to 99.4g\/t at Golden Ridge
\nResource & Energy Group keeps climbing on imminent first gold pour from East Menzies
\nArgosy shows demand for Argentine lithium product with carbonate sale to Korean partner<\/p>\n
Here are the biggest small cap resources winners in morning trade, Friday July 19. Prices accurate at time of writing.<\/p>\n
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The discovery of multiple high-grade gold veins 250m north of the main Trafalgar gold prospect at FG1\u2019s Golden Ridge project in Tassie has the company \u2013 and investors \u2013 pretty excited.<\/p>\n
It could lead to a potential expansion of the current 2.5km-long mineralised zone, which remains open in all directions.<\/p>\n
Two assays from trench sampling have also been logged, with a highlight 11m at 2g\/t gold, including 3.3m at 6.3g\/t.<\/p>\n
\u201cThese gold veins were exposed in trenching over an area of historical mine workings which appear unrecorded since they were dug about a century ago,\u201d CEO Neil Marston says.<\/p>\n
\u201cThe vein system potentially expands the footprint of gold mineralisation at Trafalgar to a 500m wide corridor which remains open in all directions, once again confirming the potential for significant scale at the Golden Ridge project.\u201d<\/p>\n
Carrying to those facts, FG1 has adjusted its ongoing diamond drill program to test beneath the old workings.<\/p>\n
Shares have been swapping hard in early trade and were up 65.38% at the time of writing to 1.4c per share.<\/p>\n
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\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n REC has shone in the trading day, yet the last time we heard from them was on July 8, when tech analysis of its Brandy Hill South copper-gold project by highly regarded geo Dr Steve Beresford flagged the potential for higher-grade porphyry style copper mineralisation than previously discovered.<\/p>\n Visual logging, pXRF data, laboratory assay results from REC\u2019s previous drilling programs across a 500m open strike length have spurred the explorer to put new eyes on the tenure while still keeping focus on its North American projects.<\/p>\n \u201cWe are encouraged by Steve\u2019s observations and findings, which has provided a relatively simple low-cost work program to advance Brandy Hill South,\u201d REC MD Felicity Repacholi said at the time.<\/p>\n \u201cCopper is one of the key commodities in the global energy transition yet there are relatively few new projects which have emerged in recent times.<\/p>\n \u201cShould exploration be successful, we anticipate substantial interest in Brandy Hill South going forward.\u201d<\/p>\n Shares in the ASX junior have upped 14.81% in trade today to 3.1c.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Since first gold pour from its Maranoa, East Menzies project on US independence day, shares in REZ have kept a pretty steady climb from 1.2c to 1.9c.<\/p>\n That comes on the back of a cap raise in May and submitting of mining proposals for a vat leach program with ore sourced from the Maranoa high-grade gold target that will complement the East Menzies campaign it\u2019s running with Lamington Minerals.<\/p>\n The Maranoa and Goodenough gold deposits contain a combined 51,000oz, and the near-term mining opportunity is being accelerated based off $2600\/oz gold price that showcased high profitability back in FY22.<\/p>\n Since the gold price is floating around $3650\/oz at the moment, there\u2019s even more incentive to get up and running.<\/p>\n Shares are up 11.76% and trading at 1.9c.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n A third copper shipment from AUQ\u2019s Al Wash-hi Majaza JV with Al Hadeetha Resources has been dispatched, containing 120 metric tonnes of contained copper and just over 4kg of gold during its 21-day cycle.<\/p>\n The ramp up in production from its 51%-owned JV has been chasing ore production rates of 1Mtpa, with AUQ just now hitting over nameplate capacity.<\/p>\n The miner has overcome manufacturing defects of its mill earlier this year and has been shipping copper and gold to offtake partner Trafigura for the past three months.<\/p>\n AUQ aims to become a mid-tier copper producer and is advancing exploration at its other Omani JVs to increase output.<\/p>\n Shares in the $38m-market-capped junior have jumped 9.43% to 5.8c on the news today.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n A lithium spot sale contract has been executed using Fastmarkets\u2019 spot pricing with a Korean chemical company for 20 metric tonnes of battery-grade lithium carbonate from AGY\u2019s staged Rincon project in South America.<\/p>\n Rincon\u2019s brine resource has a current 687kt LCE at 329mg\/L estimate and Argosy is ramping up production to 10,000tpa out of the Argentine project once fully developed.<\/p>\n \u201cWe received strong interest for our high quality Li2CO3 product and we\u2019ll review our sales strategy for our current available product,\u201d AGY MD Jerko Zuvela says.<\/p>\n \u201cThis milestone further confirms Argosy\u2019s ambitions and near-term growth phase to fully develop our Rincon lithium project.\u201d<\/p>\n AGY expanded the scale of its Rincon project to 8606 hectares last month.<\/p>\n Shares in the lithium producer are up 5% to 8.4c.<\/p>\n \u00a0<\/p>\n\n <\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While Recharge Metals 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: Flynn pops on gold discovery and Argosy turns heads with lithium sale<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Recharge Metals (ASX:REC)<\/strong><\/a><\/h2>\n
Resources and Energy Group (ASX:REZ)<\/strong><\/a><\/h2>\n
Alara Resources (ASX:AUQ)<\/strong><\/a><\/h2>\n
Argosy Minerals (ASX:AGY)<\/strong><\/a><\/h2>\n