Tiny goldie Redcastle digs shallow gold mineralisation at WA\u2019s Queen Alexandra prospect
\nBattery metals hunter Accelerate is also busting a move<\/p>\n
Here are some of the biggest resources winners in early trade, Thursday December 7.<\/p>\n
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Here\u2019s an absolute minnow of a WA goldie with a 25%+ story to tell today.<\/p>\n
The $3.7m market capper completed an RC drilling campaign at its 100% owned Queen Alexandra prospect that involved drilling 37 holes, totalling 1,937m, on an area of 20m x 20m.<\/p>\n
Samples were then sent off to a Kalgoorlie lab to ascertain gold content, and assays indeed confirm the presence of consistent, shallow gold mineralisation. High fives all round \u2013 they\u2019re definitely not out there wasting their time.<\/p>\n
Some highlights:<\/p>\n
\u2022 Gold intersections in the upper 20m which increase in grade with depth and plunge to the southeast.<\/p>\n
\u2022 Mineralisation (combo of subvertical and horizontal structuring) continuity on section and with a strike extent of 200m.<\/p>\n
\u2022 Preliminary metallurgical testwork (using a concentrated leach method) reports a subsample from the 2022 high-grade sample RRC151at 115m as having a metallurgical recovery of 92% for gold.<\/p>\n
Source: Redcastle Resources ASX announcement<\/p>\n
RC1 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no fresh news)<\/strong><\/em><\/p>\n This junior lithium and manganese hunter is also flying the double-digits ressie flag \u2013 but on not too much that\u2019s landed so far today. It\u2019s had some recent<\/em> news of note, however.<\/p>\n On the last day of November, it announced figures regarding maiden inferred Mineral Resources at the Woodie Woodie North manganese project in Western Australia\u2019s Pilbara.<\/p>\n Those totalled: 1.2Mt at 19.1% Mn (at 15% Mn cut-off) and exploration targets totalling 5.3\u201310.7Mt at 10\u201319% Mn.<\/p>\n These, reckon the company, confirm the project\u2019s high grade and scale potential.<\/p>\n Source: Accelerate Resources ASX announcement<\/p>\n Elsewhere in the Pilbara, a few days earlier, AX8 reported solid, peggie-extending news regarding its Prinsep lithium project in WA.<\/p>\n The company began mapping and sampling of the project earlier this month and that\u2019s now confirmed lithium mineralisation outcropping over 1.8km with widths up to 60m. It includes at least two parallel zones of spodumene-rich, lithium-bearing pegmatite systems spanning the entire width of the tenement area.<\/p>\n Prinsep is one of four recently acquired projects that make up the company\u2019s Karratha lithium tenements, adding to the company\u2019s growing battery metals portfolio.<\/p>\n Karratha is right in the heart of the Pilbara\u2019s 40km-long Karratha-Roebourne lithium belt, where recent discoveries include\u00a0Azure Minerals\u2019 (ASX:AZS)<\/strong><\/a>\u00a0monstrous Andover project (exploration target 100-240Mt at 1-1.5% Li2O).<\/p>\n Source: Accelerate Resources ASX announcement<\/p>\n AX8 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no fresh news)<\/strong><\/em><\/p>\n Apollo Minerals is primarily focused on gold exploration in Gabon, central Africa as well as the development of the Kroussou zinc and lead project in western Gabon, although the globally resourceful company is also on the hunt for copper over in Serbia.<\/p>\n Its most recent news regards significant funding to accelerate exploration at its Salanie gold project in Gabon.<\/p>\n The company has secured firm commitments for a placement to raise $3.4 million (before costs) strongly supported by a range of existing and new institutional, sophisticated and professional investors.<\/p>\n Apollo recently noted that results at Salanie \u201ccontinue to identify multiple occurrences of visible gold in a mineralised, near surface, quartz vein system\u201d and that a maiden drill program will begin there early 2024.<\/p>\n You can read more about the company\u2019s planned acquisition of the Belgrade copper project in Serbia here<\/a>.<\/p>\n AON share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Torque Metals is back behind the wheel today cruising up the bourse with a near 20% gain at the time of writing this very sentence.<\/p>\n Hang on, we made a coffee and it now appears to be stuck in traffic in this sentence. And, in this one, it\u2019s now a mere 9% gainer as various Energy stocks whizz by today.<\/p>\n Never mind, it still makes our Top 5 Resources grade.<\/p>\n News? Yep. Latest assay results are in at the company\u2019s New Dawn lithium project and they reveal and confirm intersection of high-grade spodumene lodes, which is a pleasing outcome for all involved. It\u2019s talking peak grade of 3.99% Li2O.<\/p>\n New Dawn, an unmined lithium and tantalum occurrence on granted mining leases<\/strong><\/a>, is literally about five stone throws (longest ever stone skim is 121.8m \u2013 look it up) (Ed: Official <\/em>stone skim<\/strong>) from Aussie mining titan Mineral Resources\u2019 big Bald Hill lithium mine, some 600m away.<\/p>\n The major highlight here is an intersection at 35m (cumulative) of lithium mineralised pegmatites in hole 23NDRC016. And that includes:<\/p>\n \u2022 10m at 1.51% Li2O, from 51m, with 1m at 3.99% Li2O, from 52m<\/p>\n \u2022 and 15m at 1.17% Li2O, from 220m including 7m at 2.12% Li2O, from 221m<\/p>\n \u2022 and: 10m at 1.15% Li2O, from 265m including 6m at 1.76% Li2O, from 267m<\/p>\n But wait, there\u2019s more\u2026 if you care to delve down further into the company\u2019s latest ASX announcement.<\/p>\n Torque\u2019s MD Cristian Moreno gave some insights on the assays, including:<\/p>\n \u201cThis repetition of several stacked pegmatites is a signature of the nearby operating Bald Hill mine.<\/p>\n \u201cThe presence of stacked pegmatites enhances the geological diversity of New Dawn and instils confidence regarding its potential scale.\u201d<\/p>\n #ASXNews<\/a>$TOR.AX<\/a> inaugural RC drilling campaign at the New Dawn Lithium Project has intersected high-grade lithium (#spodumene<\/a>) lodes with a peak grade of 3.99% Li2O.<\/p>\n 35m (cumulative) of #lithium<\/a> mineralised pegmatites intersected in hole 23NDRC016.https:\/\/t.co\/oeRhBSDiKH<\/a> pic.twitter.com\/2qOhD6rtEE<\/a><\/p>\n \u2014 Torque Metals (@Torque_Metals) December 6, 2023<\/a><\/p>\n\n Source: Market Index<\/p>\n It\u2019s been a rollercoaster for TOR over the past few months. But don\u2019t just take our word for it \u2013 check out that Bart Simpson pattern above.<\/p>\n The company rerated heavily in September after buying New Dawn. Hype fizzled following some less-than spectacular initial drill results, but TOR \u2014 believing it has something special at New Dawn \u2013 doubled down with another drill rig, and this was enough to get punters interested again.<\/p>\n Today\u2019s assay results might just be turning a few more heads in TOR\u2019s direction.<\/p>\n TOR share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span><\/p>\n \u00a0<\/p>\n (Up on no fresh news)<\/strong><\/em><\/p>\n This Arizona-focused copper \u2018n\u2019 gold explorer has some wind beneath its wings today, climbing higher up the local bourse as we tap on keys, with a 15% move. (Ed: Doh! It just had its wings clipped as we hit publish. Check the price chart below.)<\/em><\/p>\n We\u2019re not seeing anything too fresh other than some good news it put out into the wild on December 4, so we\u2019ll quickly remind you of some of those details. <\/p>\n Eagle Mountain Mining has identified a simplified process flowsheet for its Oracle Ridge copper project in Arizona, offering the potential for lower capital and operating costs, as well as a reduced environmental footprint.\u00a0<\/em><\/p>\n Glycine leaching is currently being tested on run-of-mine ore and low-grade material, the next stage will be testing the rougher concentrate and the existing tailings.<\/em><\/p>\n Our report has more, much more. Check it out here<\/a>.<\/p>\n Eagle Mountain Mining has identified a simplified process flowsheet for its Oracle Ridge copper project in Arizona, offering the potential for lower capital and operating costs.<\/p>\n Article by @StockheadAU<\/a>https:\/\/t.co\/hVmdadXgC4<\/a><\/p>\n $EM2 #Copper<\/a> #Gold<\/a> #EagleMountain<\/a> #OracleRidge<\/a><\/p>\n \u2014 Eagle Mountain Mining Limited (@eagle_mining) December 4, 2023<\/a><\/p>\n\n EM2 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> At Stockhead we tell it like it is. While Apollo Minerals and Eagle Mountain Mining are Stockhead advertisers, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Sometimes being a shallow gold digger is a good thing, right Redcastle?<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\n\u00a0<\/p>\nAccelerate Resources (ASX:AX8)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nApollo Minerals (ASX:AON)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nTorque Metals (ASX:TOR)<\/strong><\/a><\/h2>\n
Eagle Mountain Mining (ASX:EM2)<\/strong><\/a><\/h2>\n
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