Rincon Resources keeps on surging on the back of its \u2018bullseye\u2019 Avalon IOCG discovery
\nAKM has big aspirations for its Mongolian coking coal ops after getting road-building approval
\nMeanwhile, Adelong Gold and Lanathein shine on gilt-edged news<\/p>\n
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Here are some of the biggest resources winners in early trade, Monday April 29.<\/em><\/p>\n \u00a0<\/p>\n Rising critical metals junior player Rincon is now up 222% over the past week as news of its recent uncovering of a \u2018bullseye\u2019 target at its project in the West Arunta region of WA continues to turn heads.<\/p>\n And that\u2019s a target, dubbed Avalon, \u201cof similar size and character\u201d to WA1 Resources\u2019 (ASX:WA1)<\/strong><\/a> Luni carbonatite, and IOCG (iron oxide copper-gold) deposits like Prominent Hill and Ernest Henry.<\/p>\n RCR continues to drive further up and to the right today, with a 26% intraday gain at the time of writing, pushing its market cap further above $19m.<\/p>\n There\u2019s no other fresh news today we\u2019re seeing regarding Avalon, so we\u2019ll revert to our recent reporting, per Stockhead<\/em>\u2018s Reuben Adams, as follows:<\/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 Meanwhile, WA1 is up an astounding 12,730% since discovering niobium paydirt in the West Arunta late 2022.<\/p>\n We’re pleased to announce that the completed detailed ground gravity surveys at West Arunta outline multiple new anomaly high targets and enhance three existing targets in the Pokali IOCG prospect. <\/p>\n Read more https:\/\/t.co\/UZCZMqP1KZ<\/a>#REE<\/a> #rareearths<\/a> #ASXnews<\/a> #asx<\/a> #mining<\/a> pic.twitter.com\/wGNiePtnxw<\/a><\/p>\n \u2014 Rincon Resources (@RinconResources) April 22, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Aspire Mining\u2019s main game is the development of its coking coal assets in Mongolia.<\/p>\n The company has been working through major permits and approvals required to begin mining at the flagship, 100% owned Ovoot project as it prepares updates to its JORC coking coal reserve estimates.<\/p>\n Today, the company notes that the final one of those important approvals has been ticked off the to-do list.<\/p>\n It\u2019s a Detailed Environmental Impact Assessment (DEIA) for the construction of a public road from the Ovoot project, given the nod by the Professional Council of the Ministry of Nature, Environment and Tourism (MNET).<\/p>\n This will support product haulage from Ovoot and it represents a major milestone for Aspire as it\u2019s the last of the major permits needed to progress development of the coking coal project.<\/p>\n Aspire can now get on with formal financing endeavours related to its flagship operation.<\/p>\n The company\u2019s CEO, Sam Bowles, noted: \u201cBehind the scenes, we have been busy progressing updated JORC Resource & Reserve estimates, an Independent Technical Report with updated project economics, and undertaking target market analysis.\u201d<\/p>\n As an aside, locals will benefit from the construction of the road, too, which will also be for public use. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Gold\/base metals and lithium junior Adelong is up an impressive 33% at the time of writing.<\/p>\n There\u2019s a clear and simple financial reason for that \u2013 the explorer, which owns the namesake goldfield in NSW and lithium tenure in Mina Gerais, Brazil, has raised $360,000 via share purchase plan.<\/p>\n Adelong\u2019s MD Ian Holland noted that the funds will be used to \u201ccontinue assessing production pathways for the existing Adelong gold mine\u201d.<\/p>\n Holland was appointed to the managing directorial role earlier this year, having most recently been the MD of Navarre Minerals (ASX:NML)<\/strong><\/a>. He was responsible for acquiring the Mt Carlton Mine and Cush Creek project and transitioning that company from explorer to producer.<\/p>\n Gold marks second consecutive month of massive gains, hitting fresh record highs. https:\/\/t.co\/tBXqjvG8kZ<\/a> <\/p>\n Exciting news from Adelong Gold (#ASX<\/a>:ADG) aligns with the ongoing surge in #gold<\/a> prices.<\/p>\n Positive results from soil sampling program suggest potential\u2026<\/p>\n \u2014 Adelong Gold (ASX:ADG) (@Adelong_Gold) April 3, 2024<\/a><\/p>\n \n\u00a0<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Battery metals-focused hunter Lanthanein Resources believes it could be in the early stages of a large lithium discovery at the Lady Grey project in WA.<\/p>\n That said, its fresh news today comes via the uncovering of gold, copper and nickel soil anomalies at the lithium-targeted operation, which is right beside Covalent Lithium\u2019s (SQM & Wesfarmers) Earl Grey Mine \u2013 189Mt @1.53% Li2O \u2013 at Mount Holland in the Forrestania Greenstone Belt.<\/p>\n Earl Grey is one of the largest operating lithium mines in WA.<\/p>\n The gold anomaly isn\u2019t small \u2013 LNR notes it\u2019s 2km long and is \u201ccoincident with structural flexure\u201d with a peak result of 256ppb Au, with a total of 87 samples returning more than 25ppb Au.<\/p>\n New Gold Anomalies at the Lady Grey lithium project. Pic: LNR<\/p>\n Recent exploration across the 77km2 of prospective tenure, which hosts a mapped continuation of the Earl Grey pegmatite, has resulted in the identification of a large lithium caesium anomaly smack bang in the middle of Lady Grey.<\/p>\n With a strike length of +4km and assays peaking at 454ppm Li2O, LNR\u2019s interest is more than piqued.<\/p>\n Regarding the gold, copper and nickel finds, though, LNR\u2019s technical director, Brian Thomas, said the new finds add \u201canother dimension to the project-wide prospectivity following the recent discovery of two large lithium anomalies, Godzilla and Avenger\u201d.<\/p>\n Lanthanein Resources is fast-tracking drilling after uncovering a massive Godzilla lithium anomaly with striking similarities to the giant next door. <\/p>\n Could this be the next big lithium discovery?<\/p>\n Link below $LNR<\/a> #Lithium<\/a> pic.twitter.com\/XYN7uDNM3W<\/a><\/p>\n \u2014 Equities Club (@EquitiesClub) April 22, 2024<\/a><\/p>\n\n Lanthanein says it will aim to accelerate its operations and approvals processes to be drilling its new targets by mid-year.<\/p>\n Read more > here<\/a>. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> At Stockhead we tell it like it is. While LNR is a Stockhead advertiser at the time of writing, it did not sponsor this article.<\/p>\n <\/span><\/p>\n The post Resources Top 4: Rincon basks in glow of \u2018bullseye\u2019 hit; AKM\u2019s road to Mongolian gains<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Rincon Resources (ASX:RCR)<\/a>\u00a0<\/strong><\/h2>\n
RCR share price<\/h2>\n\n
\n\u00a0<\/p>\nAspire Mining (ASX:AKM)<\/strong><\/a><\/h2>\n
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\n\u00a0<\/p>\nAdelong Gold (ASX:ADG)<\/a><\/h2>\n
ADG share price<\/h2>\n\n
\n\u00a0<\/p>\nLanthanein Resources (ASX:LNR)<\/a><\/h2>\n
\n\u00a0<\/p>\nLNR share price<\/h2>\n\n
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