{"id":8752,"date":"2024-04-24T03:32:11","date_gmt":"2024-04-24T03:32:11","guid":{"rendered":"https:\/\/economicherald.net\/?p=8752"},"modified":"2024-04-24T03:32:11","modified_gmt":"2024-04-24T03:32:11","slug":"resources-top-3-company-maker-cornerstones-uranium-ree-play-nickel-hunter-dials-in-to-possible-source-at-depth","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8752","title":{"rendered":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019"},"content":{"rendered":"

KEY POINTS:<\/p>\n

Western Mines (ASX:WMG) drills into +42% nickel veinlets indicating \u2018possible source at depth\u2019<\/strong>
\nNewPeak (ASX:NPM) completes a $300,000 share placement to Gerhard Redelinghuys, founder of Bowen Coking Coal (ASX:BCB)<\/strong>
\nBrazil focused OzAurum (ASX:OZM) is drilling below weathered 1m-long spodumene crystals into fresh stuff, and results are pending<\/strong><\/p>\n

Here are the biggest small cap resources winners in morning trade, Wednesday, April 24.<\/em><\/p>\n

\u00a0<\/p>\n

WESTERN MINES GROUP (ASX:WMG)<\/a><\/h2>\n

Western Mines (ASX:WMG) says a ~750m (and counting) deep drill hole hit ~700m of rock containing \u201cdisseminated nickel sulphide mineralisation and numerous sets of remobilised nickel sulphide veinlets\u201d at the Mulga Tank project in WA.<\/p>\n

These cute veinlets \u2014 confirmed by spot pXRF up to 42.2% nickel \u2014 appear oblique to the drill core \u201cindicating a possible source at depth\u201d.<\/p>\n

Exciting times for the small explorer.<\/p>\n

The first 600m of core has been sampled and submitted to the lab for assay.<\/p>\n

\u201cSulphide mineralisation is encountered nearly everywhere we drill, and this hole is continuing that trend with cumulatively around ~300m of disseminated and blebby sulphide mineralisation observed so far, similar to the other deep diamond holes drilled last year,\u201d WMG boss Caedmon Marriot says.<\/p>\n

\u201cThe hole has already encountered numerous remobilised sulphide veinlets.<\/p>\n

\u201cThese appear oblique to the drill core, producing some nice longer intersections of the sulphide filled veins and in places occur as sets of veins.<\/p>\n

\u201cMeasurements suggest a possible source at depth below the current drilling.\u201d<\/p>\n

Exploration results over the past year show an extensive nickel sulphide mineral system, it says.<\/p>\n

This drilling of deeper targets is running side-by-side with a program to prove up a shallower 350 million-2.2 billion tonne exploration target (ore grade 0.24-0.35% nickel, plus cobalt credits).<\/p>\n

It\u2019s another bite at the gains cherry for WMG, which rocketed to ~90c\/sh April last year after reporting nickel paydirt at Mulga Tank<\/a>.<\/p>\n

The find even drew early comparisons to BHP\u2019s enormous Mt Keith, the king of low-grade sulphide deposits.<\/p>\n

But euphoria and nickel prices have since subsided, with WMG now sitting at ~36c\/sh after making a strong double digit gain early trade today.<\/p>\n\n

<\/span>
\n\u00a0<\/p>\n

OZAURUM RESOURCES (ASX:OZM)<\/a><\/h2>\n

OZM is up substantially over the past week, on low to average volume, and on no news.<\/p>\n

Its last announcement of note came mid-month when it started drilling the Boca Rica lithium project in Brazil.<\/p>\n

Chosen after the company reviewed and visited +100 projects in the State of Minas Geras, Boca Rica includes \u201cextensive LCT pegmatite swarms\u201d over a 1.7km stretch.<\/p>\n

This includes a bunch of 1m long spodumene crystals (usually grading 5-7% lithium). OZM is drilling below the weathered zone into fresh spod, and results are pending.<\/p>\n

The company also continues to run the ruler over additional lithium, niobium and rare earths projects in Brazil.<\/p>\n\n

<\/span>
\n\u00a0<\/p>\n

NEWPEAK METALS (ASX:NPM)<\/a><\/h2>\n

The Canada focussed uranium and rare earths explorer completed a $300,000 share placement at 1.5c\/sh to Gerhard Redelinghuys, founder of former small cap success story Bowen Coking Coal (ASX:BCB)<\/a>.<\/p>\n

Redelinghuys steered Bowen Coking Coal from a small explorer to a multi-mine producer listed in the ASX 300.<\/p>\n

He stepped back from his role as BCB MD in February 2023. The now-troubled producer is currently down 87% from its August 2022 peak of 40c\/sh.<\/p>\n

NPM expects to have binding commitments for another $200,000 via placement shortly. It will also undertake a Rights Issue to raise not less than $500,000 at the same issue price as the Placement shares.<\/p>\n

The ~$1m cash injection will be used to explore its recently acquired\/soon-to-be acquired Canadian properties, for new acquisitions, and for general working capital.<\/p>\n\n

\ufeff<\/span><\/span>\u00a0
\n<\/span><\/p>\n

The post Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

KEY POINTS: Western Mines (ASX:WMG) drills into +42% nickel veinlets indicating \u2018possible source at depth\u2019 NewPeak (ASX:NPM) completes a $300,000 share placement to Gerhard Redelinghuys, [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8753,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nResources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8752\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"KEY POINTS: Western Mines (ASX:WMG) drills into +42% nickel veinlets indicating \u2018possible source at depth\u2019 NewPeak (ASX:NPM) completes a $300,000 share placement to Gerhard Redelinghuys, [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=8752\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-24T03:32:11+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019\",\"datePublished\":\"2024-04-24T03:32:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752\"},\"wordCount\":621,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/four-team-big-3HOZRP.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=8752\",\"name\":\"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/four-team-big-3HOZRP.jpeg\",\"datePublished\":\"2024-04-24T03:32:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=8752\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/four-team-big-3HOZRP.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/four-team-big-3HOZRP.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8752#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=8752","og_locale":"en_US","og_type":"article","og_title":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald","og_description":"KEY POINTS: Western Mines (ASX:WMG) drills into +42% nickel veinlets indicating \u2018possible source at depth\u2019 NewPeak (ASX:NPM) completes a $300,000 share placement to Gerhard Redelinghuys, [more...]","og_url":"https:\/\/economicherald.net\/?p=8752","og_site_name":"Economic Herald","article_published_time":"2024-04-24T03:32:11+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=8752#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=8752"},"author":{"name":"","@id":""},"headline":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019","datePublished":"2024-04-24T03:32:11+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=8752"},"wordCount":621,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=8752#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/four-team-big-3HOZRP.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=8752","url":"https:\/\/economicherald.net\/?p=8752","name":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019 - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=8752#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=8752#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/four-team-big-3HOZRP.jpeg","datePublished":"2024-04-24T03:32:11+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=8752#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=8752"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=8752#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/four-team-big-3HOZRP.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/four-team-big-3HOZRP.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=8752#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Resources Top 3: Company-maker cornerstones uranium-REE play, nickel-hunter dials in to \u2018possible source at depth\u2019"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/8752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8752"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/8752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/8753"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}