Miramar Resources leads ressie pack with a 40% gain on the back of uranium and copper acquisitions
\nSIPA continues its golden form this week, while MPK, ICG and LRS also make the gainz grade<\/p>\n
Here are some of the biggest resources winners in early trade, Friday December 8.<\/p>\n
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This microcap ($3.57m) WA minerals explorer has some yellowcake-and-eat-it news today \u2013 announcing its intention to acquire uranium and copper prospects in the resources-rich northern Gascoyne region of Western Australia.<\/p>\n
The company notes it\u2019s submitted an Exploration Licence Application to target part of an outcropping \u201cDurlacher Supersuite\u201d granite area \u2013 the same unit that hosts the Yangibana (Hastings Technology Metals (ASX:HAS)<\/strong><\/a> ) and YIN (Dreadnought Resources (ASX:DRE)<\/strong><\/a>) REE deposits.<\/p>\n Adds Miramar: \u201cThe tenement application also covers numerous N-S trending Mundine Well dolerite dykes, along strike from Dreadnought\u2019s Mangaroon Ni-Cu-PGE prospect, and contains the \u2018Chain Pool\u2019 uranium occurrence and the historic \u2018Joy Helen\u2019 copper-lead-silver mine.\u201d<\/p>\n And, yep, yellowcake fans, the tenements are also prospective for uranium mineralisation.<\/p>\n The company is already on the hunt for iron oxide copper gold (IOCG) deposits at its prospective Whaleshark project in the Northern Carnarvon Basin, but this new direction will add more multi-commodity potential to the company\u2019s portfolio.<\/p>\n Read more about this on Stockhead<\/em> > here<\/a>.<\/p>\n M2R share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no news)<\/strong><\/em><\/p>\n This junior Aussie gold, base metals and REE explorer continues its good week on not much news \u2013 other than perhaps its new MD Andrew Muir putting the word out here and there (actually mostly there right now) regarding the company\u2019s portfolio and exploration targets.<\/p>\n SRI is now up 28% for the week and 52% for the month and has now pretty much wiped its YTD trading-price percentage deficit.<\/p>\n The company\u2019s most recent AGM presso on the back of a quarterly activities and cashflow report, contains much of the most relevant info you might need. And from that, we can tell you:<\/p>\n \u2022 The Paterson North copper-gold Project saw a diamond drill program completed and core assaying was underway.<\/p>\n \u2022 The Skeleton Rocks project in WA\u2019s Goldfields had aircore drilling of Ni-Cu and pegmatite targets completed with assays confirming and extending existing nickel anomalism.<\/p>\n \u2022 The Murchison project (Goldfields) was sold to\u00a0Ora Gold (ASX:OAU)<\/strong><\/a>\u00a0for $1.4m with 50% of the shares voluntarily escrowed for 12 months.<\/p>\n \u2022\u00a0At the end of the September quarter, SRI had $2.9m in its coffers.<\/p>\n SRI share price<\/strong><\/p>\n \u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Freshly name changed (from Many Peaks Gold) Many Peaks, now with a new ticker, too \u2013 MPK \u2013 is up and to the right on nothing in particular we\u2019re noticing today. Nothing yet, at least.<\/p>\n It\u2019s recent name change very likely can be attributed to the fact it\u2019s not exactly a pure gold play any more \u2013 it\u2019s on the hunt for lithium at the Aska project in Canada, for instance. And recently, it hit some head-turning TREO results at its Odyssey REE project, also in Canada, in the Red Wine rare earth element district in Labrador province.<\/p>\n As we noted early last month:<\/p>\n Exploration at the Mann 2 prospect at Many Peaks\u2019 Odyssey REE project have shown up to 6.3% TREO in recent sampling, and combined with previous work hosts multiple >5% TREO results over a >800m strike length within a 2.2km long mineralised (>1% TREO) corridor.<\/p>\n You can read more on that here<\/a> and here<\/a>.<\/p>\n MPK share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no news)<\/strong><\/em><\/p>\n Well, we say no news, we mean nothing fresh today. But midweek this Australian base metals explorer, which is on the hunt in Peru, hence its name, as well as the NT and Queensland, delivered an Alpaca Hill drilling update that caught some attention.<\/p>\n The IOCG (iron ore, copper, gold) Alpaca Hill site is not actually in Peru, it\u2019s in the NT and is part of the company\u2019s Frewena Fable project in the East Tennant province.<\/p>\n Some key progress has been made during its maiden diamond drill program at the prospect, with drilling was initially slower than expected. Inca notes the following highlights:<\/p>\n \u2022 Disseminated sulphides (pyrite and chalcopyrite) have been intercepted between 395 and 410m.<\/em><\/p>\n \u2022 Geology transitions revealed from sedimentary to altered granite igneous rocks around 368m.<\/em><\/p>\n \u2022 Drillhole deviated from modelled trajectory and is being corrected.<\/em><\/p>\n The company considers Frewena highly prospective for Tier-1 IOCG mineralisation.<\/p>\n This pic looks like an AI interpretation of someone peeling a Granny Smith apple with a deconstructed tape measure. Either that or a really bad NFT. But it actually represents the corrected drillhole deviation mentioned above. The green line is the correct path, apparently, which will set the program back on its intended target.<\/p>\n Source: Inca Minerals ASX update<\/p>\n ICG share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Right, what about lithium, we hear you ask? Okay, okay, here\u2019s something.<\/p>\n White-gold-hunter Latin Resources, an Aussie mineral exploration company with several projects on the go in Latin America and Australia, yesterday reported a whopping 56% increase in the global resource at its Salinas lithium project in Brazil to 70.3Mt at 1.27% Li2O.<\/p>\n Per our deep-diving report<\/a> on it on Thursday, the project\u2019s Colina deposit resource has increased by 41% and a maiden resource has been announced for Fog\u2019s Block \u2013 reported at 6.8Mt at 0.9% Li2O inferred for a combined global mineral resource of now 70.3Mt at 1.27% of Li2O.<\/p>\n Smack bang in the lithium-rich Bananal Valley region of the pro mining state of Minas Gerais, Colina is a direct neighbour to Sigma Lithium\u2019s (TSXV:SGML) 766,000tpa Grota do Cirilo project, which entered production earlier this year.<\/p>\n Plan view of the Colina deposit with MRE area, drill collars and section locations. Source: LRS.<\/p>\n LRS recently defined a Preliminary Economic Assessment (PEA) for the project, which proposes a 3.6Mtpa standalone mining and processing operation over two phases.<\/p>\n The PEA highlighted an after-tax NPV of $3.6 billion (US$2.5 billion) and combined after-tax IRR of 132%.<\/p>\n The company is now planning for a Phase 3 extension in its DFS (Definitive Feasibility Study).<\/p>\n LRS 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 Miramar Resources, Many Peaks Minerals and Latin Resources are Stockhead advertisers, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Miramar wants its slice of yellowcake, thanks very much. Copper, too<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\n\u00a0<\/p>\nSIPA Resources (ASX:SRI)<\/strong><\/a><\/h2>\n
Many Peaks Minerals (ASX:MPK)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nInca Minerals (ASX:ICG)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nLatin Resources (ASX:LRS)<\/strong><\/a><\/h2>\n