Who said nickel was in the dumps right now? Oh, wait, we did\u2026 still, Mantle is up on an upgraded nickel resource estimate
\nIggy Tan-backed Lithium Universe back amongst the double-digit gainers
\nHang on, is Cyclone about to steal the ressie show? It\u2019s up 50% on no news as yet<\/p>\n
Here are some of the biggest resources winners in early trade, Friday January 19.<\/p>\n
\u00a0<\/p>\n
Gold, nickel \u2018n\u2019 lithium explorer Mantle was an early riser this morning, quickly notching a stonking gain of +30%, which has now settled back a tad.<\/p>\n
The company has announced an resource upgrade at the Highway deposit, which lies within its Pardoo Ni-Cu project in the Pilbara region of WA.<\/p>\n
The nickel upgrade follows an infill drilling program completed in September 2022.<\/p>\n
The total (Indicated and Inferred) MRE is now 16.5Mt at 0.407% Ni for a total of 67,005t of nickel metal.<\/p>\n
Nickel and lithium may not be having the best of time of it lately re spot pricing, but it\u2019s long-term outlook is solid, thanks to a multi decade electric vehicle growth story.<\/p>\n
For Mantlem, the nickel is a bonus right now. Its efforts largely remain funnelled into the Robert\u2019s Hill and Mt Berghaus gold exploration tenements immediately north of De Grey Mining\u2019s (ASX:DEG)<\/strong><\/a> 12.5 million ounce Hemi gold deposit.<\/p>\n Source: Mantle Minerals<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Like most lithium stocks, Lithium Universe didn\u2019t exactly burst out of the gates price-action wise in 2024. That said, it\u2019s looking to change that today with a very solid 25% intraday gain at the time of writing.<\/p>\n Nothing fresh is rolling off LU7\u2019s comms lines, so let\u2019s take a look back at the big entrance it made onto the bourse last year.<\/p>\n In fact, the company, backed by trailblazer Iggy Tan, was the year\u2019s second-most-successful IPO, following the completion of its 2023 summer\/fall exploration work program at the Apollo lithium project in Canada.<\/p>\n The project apparently boasts geological and geophysical characteristics similar to well-known spodumene pegmatites in the area such as Patriot Battery Metals\u2019 (ASX:PMT)<\/strong><\/a> 109.2Mt Corvette property \u2013 just 29km away \u2013 and Winsome Resources\u2019 (ASX:WR1)<\/strong><\/a> Adina property, another 28km away.<\/p>\n Read further about what\u2019s in store for LU7 2024 >\u00a0here<\/a>.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on news earlier this week)<\/strong><\/em><\/p>\n Serial project hopper White Cliff pivoted towards uranium earlier this week, which has served the $23m explorer very well indeed so far.<\/p>\n It revealed plans to acquire a historical uranium project in the Northwest Territories of Canada called Radium Point, which reportedly\u00a0provided 11% of all the uranium used in the Manhattan project<\/a>.<\/p>\n The Iron Oxide Copper Gold Uranium (IOCGU) plus silver operation produced 13.7Mlb uranium, plus silver, copper gold, nickel and lead pre-1982.<\/p>\n And WCN says exploration has been largely non-existent in the area since uranium production ceased in the \u201960s and silver and copper mining stopped in early \u201980s.<\/p>\n Read more here\u2026<\/p>\n .@CliffMinerals<\/a> (#ASX<\/a>:$WCN) has added the Radium Point IOCG-#uranium<\/a> #silver<\/a> project in Canada’s Northwest Territories to its burgeoning offshore portfolio. https:\/\/t.co\/A0BOr30iX6<\/a><\/p>\n \u2014 Stockhead (@StockheadAU) January 15, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Nickel sulphide and uranium hunter Adavale is up on fairly modest gains at time of writing, but makes this list courtesy of a fairly weak ressie-gains day overall on the bourse so far, and also for the fact it has some news released into the wild.<\/p>\n The 2024 exploration program at the company\u2019s Kabanga Jirani nickel project in Tanzania is currently being finalised after encouraging 2023 results.<\/p>\n Some of that evaluation includes \u201cdetailed, deep penetrating ground EM at HEM 4, and potential follow-up drill testing; completion of hole DDLUHC006 at Luhuma Central; and testing coincident geochemical and geophysical anomaly at HEM 2E\u201d.<\/p>\n Adavale\u2019s executive director David Riekie clarified further: \u201cThe company\u2019s exploration in 2023 provided a valuable understanding of the various exploration targets, in particular the Luhuma Central massive sulphide target.<\/p>\n \u201cTo date, all Luhuma Central drill holes drilled to planned depth have intersected nickel sulphide mineralisation within an EM anomaly with a 700m strike extent.<\/p>\n \u201cHEM 4 was also tested in 2023 involving RC drilling of coincident soil and geophysical anomalies and remains highly prospective.\u201d<\/p>\n The company also notes that longer term it\u2019s setting its sights on a multitude of other targets its geological surveying has identified over the past couple of years.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Hold the presses, because this one\u2019s just blown in, right to the top of the ressie gainers on\u2026 no news.<\/p>\n Nevertheless, this magnetite\/iron ore exploration company has shot up 50% at the time of writing.<\/p>\n Its prime focus is its flagship Block 103 magnetite iron ore project located in Canada\u2019s Labrador Trough.<\/p>\n Late last year the $15m stock released some head-turning news, achieving\u00a0a major milestone after metallurgical test work on ore from its Block 103 \u2018Iron Bear\u2019 magnetite project produced a world-class direct reduction magnetite concentrate grading 70.6% iron.<\/p>\n And that came just two weeks after testing successfully produced a high-grade blast furnace (BF) magnetite concentrate grading 68.7% iron with very low deleterious elements and silica below 3.5%.<\/p>\n Read more on that > here<\/a>.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While Adavale Resources, Lithium Universe and Cyclone Metals 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: Life is a (nickel) Highway for Mantle, Cyclone blows in with 50pc gain<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"MTL share price<\/h2>\n\n
Lithium Universe (ASX:LU7)<\/strong><\/a><\/h2>\n
LU7 share price<\/h2>\n\n
White Cliff Minerals (ASX:WCN)<\/strong><\/a><\/h2>\n
WCN share price<\/strong><\/h2>\n\n
Adavale Resources (ASX:ADD)<\/strong><\/a><\/h2>\n
ADD share price<\/h2>\n\n
Cyclone Metals (ASX:CLE)<\/strong><\/a><\/h2>\n
CLE share price<\/h2>\n\n