{"id":8814,"date":"2024-04-26T03:36:46","date_gmt":"2024-04-26T03:36:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=8814"},"modified":"2024-04-26T03:36:46","modified_gmt":"2024-04-26T03:36:46","slug":"resources-top-4-70-80-these-small-cap-winners-have-legs","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8814","title":{"rendered":"Resources Top 4: 70%? 80%? These small cap winners have legs"},"content":{"rendered":"

Infinity increases Central Goldfields gold project resource by 2700oz to 63,000oz
\nRincon now up 80% since uncovering a \u2018bullseye\u2019 target earlier this week at its project in the West Arunta region of WA
\nAlso up on no news: Celsius (copper, gold), Orion (copper)<\/p>\n

Here are the biggest small cap resources winners in morning trade, Friday April 26.<\/p>\n

\u00a0<\/p>\n

INFINITY MINING (ASX:IMI)<\/a><\/h2>\n

A cute 2700oz maiden resource at Great Northern, part of the 63,000oz Central Goldfields project, was enough to give IMI a nice share price bump in early trade.<\/p>\n

IMI is aiming for a resource of 500,000oz across the project area, which comprises 10 mining and prospecting licences in the Eastern Goldfields region of WA.<\/p>\n

The small explorer reckons the 63,000oz uncovered so far has \u201cgood mining potential\u201d because the gold starts at surface, is wide enough and of sufficient grade for open pit mining.<\/p>\n

In January, the ASX told IMI\u00a0to retract an aspirational presentation comparing its trajectory to that of 2023 Pilbara lithium standouts\u00a0Azure Mining (ASX:AZS)<\/a>\u00a0and\u00a0Wildcat Resources (ASX:WC8)<\/a>.<\/p>\n

The company said it was \u201crapidly evolving into the next major lithium developer in Australia\u201d, despite having no resource or a major discovery of any kind.<\/p>\n\n

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

RINCON RESOURCES (ASX:RCR)<\/a><\/h2>\n

( Up on no news)<\/strong><\/em><\/p>\n

RCR is now up +80% since uncovering a \u2018bullseye\u2019 target at its project in the West Arunta region of WA \u201cof similar size and character\u201d to WA1 Resources\u2019 (ASX:WA1)<\/a> Luni carbonatite and IOCG deposits like Prominent Hill and Ernest Henry.<\/p>\n

The so-called Avalon gravity target is 3km long east-west and represents \u201ceither carbonatite-Nb-REE or IOCG mineral target for drill testing\u201d, the company says.<\/p>\n

RCR has approval to drill a bunch of targets, including Avalon.<\/p>\n

\u201cMultiple new gravity targets are a fantastic outcome from our recent ground gravity surveys at the West Arunta project,\u201d RCR boss Gary Harvey says.<\/p>\n

\u201cThe new Avalon target is one of the best bullseye targets for carbonatite-Nb-REE or IOCG mineralisation styles that we have seen in the West Arunta region.<\/p>\n

\u201cWe hope to emulate the success other companies such as WA1 Resources have had drilling these types of targets in the region.\u201d<\/p>\n

WA1 is up an astounding 12,730% since discovering niobium paydirt in the West Arunta late 2022.<\/p>\n\n

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

ORION MINERALS (ASX:ORN)<\/a><\/h2>\n

(Up on no news)<\/strong><\/em><\/p>\n

Another gainer with legs.<\/p>\n

Earlier this week ORN announced some big \u2018ol copper hits from its Okiep project in South Africa, including 49m at 4.86% and 10.23m at 12.47%.<\/p>\n

Good timing, with copper prices closing in on US$10,000\/t fast.<\/p>\n

The record of a touch over US$10,700\/t was set in May 2021.<\/p>\n

You can read more about \u201cthe best South African copper intercept in 40 years\u201d here.<\/a><\/p>\n\n

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

CELSIUS RESOURCES (ASX:CLA)<\/a><\/h2>\n

(Up on no news)<\/strong><\/em><\/p>\n

This ambitious minnow is hoping to develop its monster 338Mt MCB copper-gold project in the Philippines, which contains 1.6Mt copper and 1.3Moz gold at a 0.2% copper cutoff.<\/p>\n

The company slumped precipitously mid-2023 after a takeover offer from US$630m capped Silvercorp Metals (TSX:SVM, NYSE:SVM) fell apart.<\/p>\n

SVM remains a substantial shareholder in CLA, having recently participated in a small placement to keep its stake above 10%.<\/p>\n\n

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

The post Resources Top 4: 70%? 80%? These small cap winners have legs<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Infinity increases Central Goldfields gold project resource by 2700oz to 63,000oz Rincon now up 80% since uncovering a \u2018bullseye\u2019 target earlier this week at its [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8815,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nResources Top 4: 70%? 80%? These small cap winners have legs - 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=8814\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Top 4: 70%? 80%? 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