Macro Metals up on new boardroom appointments, including high-profile backers Tolga Kumova and Evan Cranston
\nNex Metals surges on Yundamindra gold project drilling approvals, even if JV partner Metalicity doesn\u2019t
\nAlso having a good day: ARV, AAJ , ODY<\/p>\n
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Here are some of the biggest resources winners in early trade, Wednesday March 6.<\/em><\/p>\n \u00a0<\/p>\n Of late, iron ore junior and lithium explorer Macro Metals has largely been focused on acquisition of 85% rights to the Aurora Energy Metals Project (AEMP) in the McDermitt Caldera, the USA\u2019s largest lithium province.<\/p>\n But the M4M share price is bursting up today on news of a new boardroom appointment and tenement acquisition with iron ore focus.<\/p>\n The company has announced the appointment of a \u201chighly regarded board with the dedicated focus of developing Macro\u2019s Pilbara iron ore portfolio\u201d.<\/p>\n The incoming board (or nominees) have subscribed for $1.22M out of the total placement of $1.35 million \u201cas a reflection of their commitment towards capturing shareholder value and delivering upon their strategy\u201d.<\/p>\n Board members include: Simon Rushton \u2013 MD (co-founder and inaugural MD of Hedland Mining, a Port Hedland iron ore junior); along with, notably, famous small cap investors Tolga Komova and Evan Cranston as non-exec directors.<\/p>\n Macro Metals \u2013 you might remember it as Kogi Iron pre-2023 \u2013 has entered into a tenement acquisition agreement to acquire a total of six exploration licence applications from Mining Equities for a cash reimbursement amount of $54,420\u00a0 and a 2% royalty on all minerals sold from each project.<\/p>\n Those projects include:<\/p>\n \u2022 the W5 Iron Ore Project located in midwest WA, 5km along strike from Fenix Resources\u2019 (ASX:FEX)<\/strong><\/a> Iron Ridge Mine.<\/p>\n \u2022 the Deepdale Iron Ore Project, adjacent to Rio Tinto\u2019s Robe Valley iron ore operations <\/span>and CZR Resources\u2019 (ASX:CZR)<\/strong><\/a> Robe Mesa Project in the West Pilbara.\u00a0<\/span><\/p>\n \u2022 as well as the Bellary Springs, and Turner iron ore projects<\/p>\n As far as the Aurora Energy Metals (ASX:1AE)<\/strong><\/a> lithium project acquisition is concerned, Macro Metals is currently doing its due diligence.<\/p>\n $M4M has mutually agreed with @Aurora_1AE<\/a> to extend the exclusivity period by 3-mths in relation to the proposed #acquisition<\/a> of an 85% interest in the #lithium<\/a> rights over the Aurora Energy Metals Project, as announced on 14\/11\/23. <\/p>\n Read more here: https:\/\/t.co\/U1favStpko<\/a> pic.twitter.com\/FGvfpkfvVu<\/a><\/p>\n \u2014 MacroMetals (@MacroMetals) February 11, 2024<\/a><\/p>\n \n\u00a0<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0 WA-focused gold, copper and nickel hunter is up on \u201coutstanding\u201d gold prospectivity at the Yundamindra gold project, of which it owns 20% in a JV with Metalicity (80%).<\/p>\n Curiously, MCT is now currently 25% down after also bursting up on the news earlier. Profit taking? Probs.<\/p>\n In any case, NME is doing well off the news, surging 30%.<\/p>\n Drilling approvals for the maiden drilling program at Yundamindra have now been lodged for the first drill program in over 10 years at the project.<\/p>\n Drilling will target the highly prospective Western Line, including the Landed at Last prospect.<\/p>\n The Landed at Last prospect has historically returned very good shallow, high grade results including:<\/p>\n \u2022 11m at 5.85g\/t Au from 40m in LW32 Yundamindra is located ~65km southeast of Leonora, within trucking distance of a number of mills. Prospects remain open at depth and along strike. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Gold, copper and lithium focused company Artemis, on the hunt in WA\u2019s Pilbara region, is on the up today thanks to high-grade samples returned at its Mt Marie lithium prospect.<\/p>\n The company has more than 150km2 of 100% owned tenure and only around 25km2 covered in its ground reconnaissance program to date.<\/p>\n This coarse spodumene crystals up to 30cm in length.<\/p>\n Additionally, multiple rock chip assays of >0.50% Li2O have come in from a new zone identified at the Osborne East prospect.<\/p>\n Further reconnaissance and follow-up sampling will now be undertaken across the E47\/1746 tenement.<\/p>\n Source: Artemis Resources<\/p>\n Artemis\u2019 executive director George Ventouras said, \u201cThis second round of rock chip assay results provides further evidence of the potential scale and grade of the Artemis lithium discovery.<\/p>\n \u201cThese results from the Mt Marie prospect and the new zone identified at Osborne East, are opening up the lithium mineralised region considerably and suggests that a greater portion of the tenement area is now prospective for lithium mineralisation.<\/p>\n \u201cWe are confident that we have only just scratched the surface of lithium mineralisation potential across the tenement portfolio.\u201d<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Gold, lithium and REE explorer Aruma\u2019s share price is up about 25% so far today, on the back of high-grade rare earths discovered at its Salmon Gums project in the Eastern Gold Fields of Western Australia.<\/p>\n Maiden REE-focused drilling there has returned multiple high-grade clay rare earths of \u201csignificant thickness\u201d, including: 11m at 904ppm TREO from 18m; 6m at 770pmm TREO from 24m; 18m at 638ppm TREO from 12m and more.<\/p>\n Additionally, the company notes that surface sampling of exposed ionic clays in the emerging greater Esperance-Salmon Gums ionic clay REE region has returned the highest REE result in the area to date; 8,700ppm TREO with high-value Nd + Pr oxides representing 22.5% of TREO grade.<\/p>\n The REE drilling also confirms a northern extension of recent REE discoveries by Meeka Metals (ASX:MEK)<\/strong><\/a> \u00a0and OD6 Metals (ASX:OD6)<\/strong><\/a> in the region.<\/p>\n Aruma managing director Glenn Grayson said:<\/p>\n \u201cThe high-grade results returned from our first-pass REE-focused drilling at the Salmon Gums Project is exciting for Aruma. It appears that the higher grade mineralisation extends further onto our Project area, which enhances the potential for it to host extensive REE mineralisation.<\/p>\n \u201cThe exceptional grades and thicknesses reported in this maiden drilling program, along with the highest grade ionic clay REE reported in the region to date \u2013 in surface sample AR33002 \u2013 highlights the largely untested REE potential of Salmon Gums and our team\u2019s skill in identifying and advancing high-value mineral prospects.\u201d<\/p>\n Source: Aruma Resources<\/p>\n \u00a0<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> WA gold-exploring junior Odyssey is focused on its high-grade gold projects in the Murchison Goldfields.<\/p>\n It\u2019s up today on\u2026 not much. It did deliver a half-year report (to end of December 2023) yesterday, however.<\/p>\n That included a note about the company\u2019s flagship Tuckanarra Gold Project, part of the prolific Murchison Goldfields.<\/p>\n Odyssey has announced an updated mineral resource estimate (MRE) for Tuckanarra\u00a0 totalling 5.14 million tonnes at 2.5g\/t Au for a total 407,000 ounces of gold.<\/p>\n Odyssey\u2019s tenement package covers an area of ~170km2. It holds an 80% interest in the Tuckanarra (Odyssey 80%\/Monument Mining 20%) and Stakewell (Odyssey 80%\/Diversified Asset Holdings 20%) gold projects, which together make up the Tuckanarra Project.<\/p>\n Odyssey Increases Mineral Resources to 407koz at 2.5g\/t Au at Tuckanarra Gold Project<\/p>\n Represents a significant 12% increase in the MRE gold grade to 2.5g\/t Au, compared to August 2023 MRE grade of 2.2g\/t Au<\/p>\n More: https:\/\/t.co\/RtqdOeN1pw<\/a> $ODY<\/a> $ODY.ax<\/a> #gold<\/a> #ASX<\/a> #ASXnews<\/a> pic.twitter.com\/bx2tq71xwz<\/a><\/p>\n \u2014 Odyssey Gold (@odyssey_gold) February 15, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Resources Top 5: Notable small cap investors Tolga Kumova and Evan Cranston get behind Macro Metals<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Macro Metals (ASX:M4M)<\/strong><\/a><\/h2>\n
M4M share price<\/h2>\n\n
\n\u00a0<\/p>\nNex Metals Exploration (ASX:NME)<\/strong><\/a><\/h2>\n
\n\u2022 10m at 9.99g\/t Au from 10m in LW34
\n\u2022 9m at 8.56g\/t Au from 36m in LW33<\/p>\n
\n\u00a0<\/p>\nNME share price<\/h2>\n\n
\n\u00a0<\/p>\nArtemis Resources (ASX:ARV)<\/a><\/strong><\/h2>\n
ARV share price<\/h2>\n\n
\n\u00a0<\/p>\nAruma Resources (ASX:AAJ)<\/strong><\/a><\/h2>\n
AAJ share price<\/h2>\n\n
\n\u00a0<\/p>\nOdyssey Gold (ASX:ODY)<\/strong><\/a><\/h2>\n
ODY share price<\/h2>\n\n