Junior WA goldie KAL makes some thick intercepts in shallow ground\u00a0
\nGraphite hunter BKT pulls in some notable funding in Tanzania\u00a0
\nXAM and MKG also moving in the right direction today<\/p>\n
Here are some of the biggest resources winners in early trade, Friday March 15.<\/p>\n
\u00a0<\/p>\n
Sometimes in life, being thick and shallow reaps rewards. And it\u2019s the case for minnow WA goldie KAL so far today.<\/p>\n
It\u2019s posting solid gains, thanks to thick and shallow gold intercepts at the Kirgella Gift and Providence prospects within the Pinjin project, around 140 km east of Kalgoorlie-Boulder.<\/p>\n
Intercepts include:\u00a032 m at 1.29 g\/t Au from 3 m depth (containing 4 m at 3.29 g\/t Au from 16 m); 35 m at 1.15 g\/t Au from 11 m depth (containing 4 m at 2.91 g\/t Au from 16 m); and 45 m at 2.36 g\/t Au from 51 m depth (containing 33 m at 3.10 g\/t Au from 51 m).<\/p>\n
The gold hits are being compared with mineralisation hosted within larger, broader zones of anomalism at the Rebecca gold project 21 km to the south (of the KAL prospects), which is owned by Ramelius Resources (ASX:RMS)<\/strong><\/a>.<\/p>\n This all comes amid a comprehensive appraisal of gold mineralisation completed at Kirgella Gift and Providence following successful drilling late 2023.<\/p>\n The company notes that three thick gold lodes have been recognised at Kirgella Gift, and two at Providence.<\/p>\n Location of Kirgella Gift and Providence prospects within the Pinjin project. Source: KAL Gold<\/p>\n A program is now underway to advance to an initial JORC Code (2012) Mineral Resource Estimate at Kirgella Gift, with further drilling planned in Q2 at the broader Pinjin project.<\/p>\n Kalgoorlie Gold\u2019s MD Matt Painter painted a picture with several words, including these ones:<\/p>\n \u201cAs gold prices surge, we believe that there is a clear pathway for KalGold to access its gold resources to realise maximum benefit for shareholders.\u201d<\/p>\n KAL share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n BlackRock is busting up the local bourse. That\u2019s right, not that<\/em> BlackRock. The Tanzanian-focused, $76.8 market capped graphite player Black Rock Mining.<\/p>\n Why\u2019s it double digits to the good this morn? It\u2019s pulled in some pretty ginormous funding, in the form of a loan, for its flagship (84% owned) Mahenge graphite project in Tanzania.<\/p>\n Per a company release to the ASX, Black Rock has now secured key approvals for a targeted US$113m Term Loan for Mahenge, which it expects to comprise:<\/p>\n \u2022 US$59.6m from The Development Bank of Southern Africa (DBSA); and It\u2019s the IDC loan that it\u2019s highlighting, however, and that\u2019s a state-owned institution providing financial support to promote economic growth and development in South Africa. Clearly East Africa, too.<\/p>\n The DBSA, meanwhile is a prominent financial institution, wholly-owned by the government of South Africa.<\/p>\n In September last year, Black Rock signed an MOU with its POSCO International Corporation for a potential cornerstone equity position in Black Rock of up to US$40m. Approvals are reportedly closing in for this one.<\/p>\n Mahenge hosts a \u201cmulti-generational graphite resource\u201d and, notes Black Rock, is one of the largest JORC-compliant flake graphite resources globally, with 213m tonnes at 7.8% TGC, and a reserve of 70m tonnes at 8.5% TGC.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Copper and gold explorer Xanadu Mines has several advanced exploration projects on the go in far-flung Mongolia, including in the South Gobi Desert.<\/p>\n According to it, it remains one of the few listed juniors that controls a globally significant copper-gold deposit \u2013 specifically at its flagship Kharmagtai project (a 3Mt copper and 8Moz gold Mineral Resource).<\/p>\n News sending it up and to the right today? Not seeing too<\/em> much, although there was this post, which detailed a positive broker\u2019s report on the stock from PAC Partners, who made a recent site visit to the company\u2019s key project:<\/p>\n Post site visit, @PAC_Partners<\/a> initiates on $XAM<\/a> w 13cps target (26cps unrisked)#XAM<\/a> continues 2 b fully funded @ both, corp lvl 4 discovery explor’n programs & Kharmagtai 50:50 JV lvl 2 complete PFS, with CF likely enhanced in early yrshttps:\/\/t.co\/gLpuzcLp1q<\/a>#ASX<\/a> pic.twitter.com\/3o2qoOVorY<\/a><\/p>\n \u2014 Xanadu Mines (@XanaduMines_ASX) March 14, 2024<\/a><\/p>\n\n The takeaways from that were\u2026<\/p>\n It\u2019s a \u201ctransformative year in prospect\u201d at the company\u2019s big South Gobi Copper\/Gold project, with overall \u201crobust value today\u201d as well as the prospect of \u201cproject enhancement and corporate appeal in 2024\u201d.<\/p>\n \u201cWe see Kharmagtai as a likely development project due to its large 1.25 billion tonne Resource at a grade of 0.27% copper and 0.21 gram\/t gold,\u201d wrote PAC Partners, adding:<\/p>\n \u201cOver the life of mine, Kharmagtai is highly profitable with low all-in costs of US$1.87\/lb on low strip ratio open pits and its South Gobi location\u2019s surprising closeness to rail, power and to Chinese smelters.\u201d<\/p>\n The broker\u2019s investment view is: buy, with a $0.13 share price target in mind.<\/p>\n The current share price is below\u2026<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n There\u2019s not a lot doing in terms of news for this junior gold explorer.<\/p>\n It did deliver its half-yearly reports and accounts to market a few days ago, but it\u2019s most recent news of importcame earlier this month and regarded its flagship Napi\u00e9 project in C\u00f4te d\u2019Ivoire.<\/p>\n Two parallel artisanal mining sites named \u2018Double Zone\u2019 at Tchaga North within the Napi\u00e9 project have been seeing some good progress of late. It\u2019s a target where high-grade rock chip samples have returned up to 22.46g\/t.<\/p>\n Ongoing rock chip sampling program at the target area has pulled up another high-grade round of results \u2013 with the best of recent gold hits showing up to 79.5g\/t in February.<\/p>\n Further rock chip sampling results at Double Zone has now expanded the drill target to 250m in strike length.<\/p>\n The very latest high-grade rock chip results include 22.46g\/t Au, 16.78g\/t Au, 12.85 Au, and 4.86g\/t Au, which complement other recently announced results of 44.73g\/t Au, and 6.29g\/t Au.<\/p>\n Mako\u2019s MD, Peter Ledwidge imparted the following thoughts:<\/p>\n \u201cThe newly named \u2018Double Zone\u2019 which is aptly named for the two parallel artisanal mining sites with associated east-west quartz veining, has expanded significantly.<\/p>\n \u201cThe consistent high-grade rock chip results at Double Zone along with its increasing strike length and width potential makes this a compelling high-priority drill target.\u201d<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While MKG is a Stockhead client at time of writing, it did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Top Resources 4: For this Kalgoorlie gold junior, being thick and shallow reaps rewards<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Black Rock Mining (ASX:BKT)<\/strong><\/a><\/h2>\n
\n\u2022 US$53.4m from the Industrial Development Corporation of South Africa (IDC)<\/p>\nBKT share price<\/h2>\n\n
Xanadu Mines (ASX:XAM)<\/strong><\/a><\/h2>\n
XAM share price<\/strong><\/h2>\n\n
Mako Gold (ASX:MKG)<\/strong><\/a><\/h2>\n
MKG share price<\/strong><\/h2>\n\n