Mako Gold maps targets for drill testing at ~870,000oz Napi\u00e9 flagship in C\u00f4te d\u2019Ivoire
\nCobre dials in on giants along Kalahari Copper Belt
\nKairos says it has a gamechanger on its hands at Black Cat, a clay hosted rare earths discovery 110km from Lynas (ASX:LYC)<\/p>\n
Here are the biggest small cap resources winners in early trade, Monday January 29.<\/p>\n
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Veteran small cap watcher Barry Fitzgerald recently wrote about this small African goldie which has a 868,000oz resource \u201cand a couple of other steak knives in the draw\u201d.<\/a><\/p>\n Mako\u2019s focus is on Napi\u00e9 in C\u00f4te d\u2019Ivoire, one of the less challenging countries in West Africa.\u00a0<\/a><\/p>\n It is currently doing a bunch of low-cost mapping exercises across the project area to generate new targets for drill testing; targets which include a \u201cbespoke\u201d 40m deep artisanal mining site:<\/p>\n OH&S COMPLIANT.<\/p>\n \u201cIt is assumed that artisanal miners would not be chasing quartz veins to those depths if they were not high-grade,\u201d the company says.<\/p>\n Too right.<\/p>\n Due diligence on acquiring neighbour Goldridge Resources \u2014 a privately owned company associated with the founders of Tietto (ASX:TIE)<\/a> \u2014 is also progressing, the company says.<\/p>\n MKG is in the process of raising $500,00 @ 1c\/sh via share purchase plan, which follows a recent $2m placement.<\/p>\n\n <\/span> An early stage survey undertaken by elephant hunter CBE and mid-tier miner Sandfire (ASX:SFR) along the Kalahari Copper Belt (KCB) has dialled in on \u201cpriority settings\u201d for potential large scale copper-silver deposits.<\/p>\n \u201cThe AGG [airborne gravity gradient survey] results are proving enormously useful as a targeting tool and we expect the data to form an integral part of our next phase of exploration,\u201d CBE CEO Adam Woolbridge says.<\/p>\n \u201cWe\u2019re particularly encouraged by the potential of the method for highlighting preserved fold hinge trap-sites which we believe to hold the key for Tier 1 deposits in the KCB.\u201d<\/p>\n It has been a nice little period for the $25m capped African gold hunter, which is now up ~120% in the last five trading days on volume.<\/p>\n Last week it received US$500,000 from global major BHP\u2019s 2024 Xplor program.<\/a><\/p>\n CBE was one of two ASX stocks \u2013 and six all up \u2013 to be selected from a pool of more than 500 applicants.<\/p>\n It had a $3.5m cash cushion at the end of September, which gives it enough funding for Q1 at current burn rates.<\/p>\n\n <\/span> The former gold explorer reckons it has a gamechanger on its hands at Black Cat, a clay hosted rare earths discovery 110km from Lynas\u2019 (ASX:LYC) new Kalgoorlie processing plant in WA.<\/p>\n While clay deposits projects have advantages over their hard rock counterparts \u2013 a higher proportion of magnet REEs, lower exploration, mining and processing costs \u2013 they are usually far lower grade.<\/p>\n Not in this case.<\/p>\n KAI says this thing has genuine scale with hits like 28m @ 3854ppm TREO from 32m, which includes 4m @ 23,000pmm (2.3%) TREO.<\/p>\n More than 90% of holes testing for rare earths have hit significant mineralisation, it says.<\/p>\n All-important metallurgical test work is underway.<\/p>\n \u201cThese will tell us, among other factors, whether the material could be upgraded through a simple beneficiation [removing waste to upgrade ore] process for sale to a rare earths processor,\u201d KAI managing director Pete Turner says.<\/p>\n The best clay deposits also have a decent ionic component,<\/a> which means REEs can be easily, quickly, and cheaply \u2018leached\u2019 in a salt solution.<\/p>\n Meanwhile, the company is looking to sell its 1.6Moz Mt York gold project in the Pilbara, with discussions underway with third parties \u201cabout potential corporate transactions\u201d.<\/p>\n KAI was cashed up with $6.4m in the bank at the end of December.<\/p>\n\n <\/span> PFE listed as iron ore explorer in 2021, pivoted briefly to silver\/lead and manganese, before picking up a stake in a lithium brines company in the Smackover region of the US.<\/p>\n PFE\u2019s soon-to-be 100% owned company Daytona Lithium is surrounded by majors like Exxon and Albemarle, who are also eyeing a lithium bounty in this established oil and gas province.<\/p>\n PFE today released a fairly loose exploration target (educated guess, pre resource drilling) for its Superbird project of 364Mt-1,238Mt of brine with a grade between 225-450mg\/L lithium.<\/p>\n That\u2019s between ~430,000t and 4Mt lithium carbonate equivalent (LCE) over Superbored\u2019s \u201cabstract\u201d 50,000-acre area; abstract because the project only covers 12,500 acres of leases right now.<\/p>\n This abstract area is a basket of acreage the company is systematically leasing through an exclusive agreement. Daytona currently has another 9,000 acres under negotiation.<\/p>\n The company had $1.8m in the bank at the end of December.<\/p>\n\n \ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead, we tell it like it is. While Mako and Pantera are Stockhead advertiser, they did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 4: A rare earths \u2018gamechanger\u2019, parabolic copper juniors, and the most dangerous gold target you\u2019ve ever seen<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\n\u00a0<\/p>\nCOBRE (ASX:CBE)<\/a><\/h2>\n
\n\u00a0<\/p>\nKAIROS MINERALS (ASX:KAI)<\/a><\/h2>\n
\n\u00a0<\/p>\nPANTERA MINERALS (ASX:PFE)<\/a><\/h2>\n