Viridis Mining and Minerals hits big REEs at Colossus project, Brazil
\n\u00a0Pacgold makes the (high) grade at Alice River, Qld
\nKilli Resources, TG Metals and Nordic Nickel all surge on no specific news<\/p>\n
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Here are the biggest resources winners in early trade, Monday November 20.<\/em><\/p>\n \u00a0<\/p>\n Diverse minerals hunter Viridis is coming out of a trading halt with some big assay-result news from its newly acquired Colossus rare earths (REE) project in Minas Gerais, Brazil.<\/p>\n The company recently entered into a binding agreement to acquire 100% of the rights to the REEs comprising the Colossus project, consisting of 41 Licenses (including 2 Mining Licenses) covering 56km2 \u201cwithin South America\u2019s largest known alkaline complex\u201d.<\/p>\n Today, the company has announced \u2018major ionic clay rare earth discoveries\u2019 at Colossus, with 46.0m at 3,285 ppm Total Rare Earth Oxide (TREO) from surface making the headline.<\/p>\n The VMM share price has subsequently shot up more than 69%<\/strong> at the time of writing.<\/p>\n Viridis Mining and Minerals $VMM<\/a> pleased to announce<\/p>\n \u201cMajor Ionic Clay Rare Earth Discoveries at Colossus: 46.0m @ 3,285ppm TREO from surface\u201d<\/p>\n ASX Announcement:https:\/\/t.co\/7isurYQnXO<\/a>#Viridis<\/a>\u00a0#VMM<\/a>\u00a0#RareEarth<\/a>\u00a0#Colossus<\/a>\u00a0#Project<\/a>\u00a0#Brazil<\/a>\u00a0#Drilling<\/a> #results<\/a> #IAC<\/a> #Discovery<\/a> pic.twitter.com\/erWqQko8a0<\/a><\/p>\n \u2014 Viridis Mining and Minerals Limited (@Viridis_VMM) November 19, 2023<\/a><\/p>\n\n These are VMM\u2019s first set of assay results for auger and diamond drilling at the project, which it says confirms it as a \u2018world class Ionic Adsorption Clay (\u201cIAC\u201d) discovery\u2019.<\/p>\n Initial diamond drilling revealed an IAC body ranging from 10 to 20 metres thick with a \u2018remarkable weighted average grade\u2019 of 2,938 ppm TREO at the Fazenda prospect and an \u2018even more impressive\u2019 IAC body was discovered, 15 to 45 metres thick, with a weighted average grade of 3,460 ppm at Cupim South Prospect.<\/p>\n The company believes Colossus could become the highest-grade deposit globally for Ionic Clay Rare Earths.<\/p>\n VMM\u2019s executive chairman Agha Shahzad Pervez gave a sense of the excitement with this:<\/p>\n \u201cThese are simply world class Ionic Adsorption Clay Rare Earths \u2018IAC REE\u2019 results and affirms the confidence the management team has in the Colossus Project.<\/p>\n \u201cAs we advance with our exploration program, we are encountering widespread thick saprolite clay profiles, exemplifying the potential for Colossus to host a world-class resource in terms of size and grade.\u201d<\/p>\n VMM share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Not unlike the gold-wearing ODI world champs today, Pacgold is feeling pretty good about itself, with a golden 20%+<\/strong> daily gain at the time of trying to concentrate on resources instead of reading about Aussie dressing room celebrations.<\/p>\n The small goldie, focused on an \u2018entire gold corridor\u2019 at the Alice River project in Queensland, has some news \u2013 namely, the identification of multiple new regional structures.<\/p>\n And that comes after the company did some rock chip geochemical tests, which have confirmed new high-grade gold mineralisation hosted by outcropping quartz lodes at the project.<\/p>\n Some further deets, per the company\u2019s morning ASX report:<\/p>\n \u2022 Surface rock chips up to 47.4g\/t Au define a new structure >2km in strike length hosting the historical Jerry Dodds prospect workings, located 0.6km southwest of and sub-parallel to the high-grade Alice River fault zone.<\/em><\/p>\n \u2022 Significant extension of the Alice River fault zone defined 3.8km north of the Northern Target, with rock chip results to 2.2g\/t Au at the Kapok prospect.<\/em><\/p>\n \u2022 Widespread anomalous rock chip results up to 1.5g\/t Au returned from a new zone (Stockade prospect) located 0.6km west of the Southern Target define a new north-west trending regional structure.<\/em><\/p>\n Source: Pacgold ASX announcement<\/p>\n Pacgold MD Tony Schreck said:<\/p>\n \u201cThese reconnaissance sampling results highlight the potential for multiple gold-mineralised regional-scale structures in addition to the Alice River fault zone which hosts the high-grade Central and Southern Targets.<\/p>\n \u201cWhat is most exciting for shareholders and investors is how rapidly we are defining new prospective high-grade gold structures and new areas of exposed mineralisation which have been overlooked or underexplored by previous companies.\u201d<\/p>\n PGO share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Lithium, nickel and gold exploration junior TG Metals has been making a few ripples of late with ASX surges, especially after announcing an interception of high-grade lithium at its Lake Johnston Li-Ni-Au project in the Lake Johnston Greenstone Belt of WA.<\/p>\n The company has nothing fresh to report today that we can see specifically, however, there is certainly some action going on in the Lake Johnston area with some other projects of note, which could be helping to move neighbouring junior explorer share prices today.<\/p>\n What\u2019s doing then?<\/p>\n Fellow battery metals hunter Charger Metals (ASX:CHR)<\/strong><\/a> and mining behemoth Rio Tinto (ASX:RIO)<\/strong><\/a> have signed a farm-in agreement for what\u2019s known as the Lake Johnston Lithium Project (a different project from TG6\u2019s), while Charger has simultaneously entered into a binding agreement with Lithium Australia (ASX:LIT)<\/strong><\/a> to purchase its minority interest in the project for $2 million to increase Charger\u2019s interest to 100%.<\/p>\n You\u2019d think that\u2019d be sending the CHR and LIT prices skywards, by the way, wouldn\u2019t you? Er, at the time of key tapping, CHR and LIT are both in the red. Certainly good news for the juniors of the Lake Johnston rush more generally though that Rio Tinto is taking an interest.<\/p>\n Late last week, meanwhile, TG6 gave this positive update on its Burmeister prospect at its Lake Johnston Li-Ni-Au project\u2026<\/p>\n #Drilling<\/a> at the Burmeister #Lithium<\/a> Discovery Progressing well with 6 holes completed to-date<\/p>\n A further 7 holes planned More: https:\/\/t.co\/QAOnxnqvaI<\/a>#TG6<\/a> #exploration<\/a> #WesternAustralia<\/a> #asxnews<\/a> pic.twitter.com\/vvrgWepNS7<\/a><\/p>\n \u2014 TG Metals Limited (@TGMetals) November 16, 2023<\/a><\/p>\n\n TG6 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span><\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Gold, copper and REEs exploration minnow Killi Resources is also busting a move today, with a +32%<\/strong> gain, although there\u2019s not a lot to report here.<\/p>\n For the company\u2019s last piece of major news, we travel back briefly in time to October 30, when it announced soil assay results from the Baloo prospect at its Mt Rawdon West project in Queensland, highlighting extensive copper-gold-molybdenum anomalies at surface.<\/p>\n And that appears to be a large system that extends the historical Cu-Au-Mo soil anomaly to 4.5km x 1.5km along a structural corridor \u2013 interpreted as the linking structure between the two mineralised regional faults.<\/p>\n At the time, the company\u2019s CEO, Kathryn Cutler said, regarding the find: \u201cWe remain convinced we are potentially looking at a new copper-gold mineral discovery for the region.\u201d<\/p>\n KLI share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/p>\n Also baffling ASX ressie share price observers today is Nordic Nickel, up a cool 24% at the time of wondering what pic to use for this article.<\/p>\n We\u2019re not seeing a lot of news today for this battery metals hunter, which is searching for high purity class 1 nickel sulphides over in Finland.<\/p>\n Something may or may not be simmering below the surface, but in the meantime, we refer you to its news from November 14 \u2013 some positive assay results from its drilling operations at the Pulju nickel project, which is in northern Finland, within the Central Lapland Greenstone Belt.<\/p>\n It\u2019s talking high grade \u2013 up to 2.4% nickel intersected in addition to multiple disseminated nickel sulphide intersections of up to 195m.<\/p>\n Nordic Nickel is pleased to report further significant assay results received from drilling completed at its Pulju #nickel<\/a> project, with high-grade #nickel<\/a> intersected outside the Resource. https:\/\/t.co\/zdwjVoLDWf<\/a>#NNL<\/a> #nickel<\/a> #exploration<\/a> #ASX<\/a> #Finland<\/a> #growth<\/a> #discovery<\/a> #ASX<\/a> pic.twitter.com\/tp1psMW8jI<\/a><\/p>\n \u2014 Nordic Nickel (@NordicNickel) November 14, 2023<\/a><\/p>\n\n NNL share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While Charger Metals and Nordic Nickel are Stockhead advertisers at the time of writing, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Viridis makes colossal REE find, while Pacgold is a high-grade champ<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Viridis Mining and Minerals (ASX:VMM)<\/strong><\/a><\/h2>\n
Pacgold (ASX:PGO)<\/strong><\/a><\/h2>\n
TG Metals (ASX:TG6)<\/strong><\/a><\/h2>\n
Phase 2 drill samples commenced with first assays due within 2 weeks<\/p>\n<\/h2>\n
Killi Resources (ASX:KLI)<\/strong><\/a><\/h2>\n
Nordic Nickel (ASX:NNL)<\/strong><\/a><\/h2>\n