Sun Silver arrives on the local bourse sporting a double bag of gains
\nAustralian Gold and Copper is also rising on silver-related news\u00a0
\nMeanwhile, Castillo Copper is sticking to its namesake game plan<\/p>\n
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Here are some of the biggest resources winners in early trade, Wednesday May 15.<\/em><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Explorer Australian Gold and Copper is bursting up more than 70% so far today on\u2026 that\u2019s right, you guessed it\u2026 silver.<\/p>\n The company has announced it\u2019s drilled its way into some thick, super high grade metal at its Achilles target, which is part of the gold and polymetallic project dubbed Cargelligo, located in the Cobar mineral basin of NSW.<\/p>\n The high grade silver action includes a highlight of 5m at 16.9g\/t gold, 1,473g\/t silver and 15% lead+zinc.<\/p>\n \u201cAchilles is producing some exceptional grades in the drill bit,\u201d AGC boss Glen Diemar says.<\/p>\n \u201cThe first six holes have produced grades including combined lead and zinc to 38%, gold to 45g\/t and silver above 3,000g\/t.<\/p>\n \u201cThis silver result is so high grade the laboratory is sending the sample to Canada for further analysis, which is a rare occurrence.\u201d \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> AGC is not the Lone Ranger riding high on silver today. (SFX: crickets\u2026)<\/p>\n Explorer Sun Silver has made quite the entrance on the ASX, with an eye-catching +100% gain.<\/p>\n The company owns the \u2018globally significant\u2019 Maverick Springs silver project in Elko County, Nevada, which has an inferred mineral resource of 292,000,000 oz silver equivalent at 72.4gt silver.<\/p>\n Sun Silver SS1: a 292,000,000 silver equivalent resource commences trading on the ASX this Wednesday 15th at 9am AWST\/ 11am AEST.https:\/\/t.co\/qw4RsL8IeS<\/a>#SS1<\/a> #silver<\/a> #exploration<\/a> #IPO<\/a> #Nevada<\/a> #USA<\/a> pic.twitter.com\/pRRoWaSIw4<\/a><\/p>\n \u2014 Sun Silver (@SunSilver_SS1) May 14, 2024<\/a><\/p>\n\n This listing comes after a successful, oversubscribed $13 million IPO for the company that saw investment from Australian and international institutional and retail investors.<\/p>\n The Maverick Springs project is located in the geologically prospective Carlin Trend in the heart of Nevada\u2019s Tier-1, minerals-rich jurisdiction.<\/p>\n The company notes the project has exceptional potential growth with ~200 holes for ~60,000m drilled to date covering an area of only ~20% of the property. The deposit is open along strike and at depth.<\/p>\n Who\u2019s involved in this? Some fairly heavy-hitting experienced players, with the board and management including exec director Gerard O\u2019Donovan (ex-Pilbara Minerals) and Dean Ercegovic (ex-Primero Group), among others.<\/p>\n O\u2019Donovan said, among other things, this, about its big silver operation and the current state of the silver market:<\/p>\n \u201cMaverick Springs comes to market at a very exciting time for the global silver industry, which is in the middle of a supply squeeze driven by surging industrial demand for the metal and particularly because of its pivotal role in the production of solar panels.<\/p>\n \u201cAccording to the IEA, solar is on track to become the dominant form of renewable energy by 2027 \u2013 just three years away \u2013 surpassing energy derived from coal and gas. That should see significant demand for silver, exacerbating the deficits we have seen over the past four years.\u201d \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Queensland and Zambian-focused copper hunter Castillo posted a big gain on the ASX yesterday<\/a> off the back of announcing its plans to develop the Big One deposit, part of Castillo\u2019s NWQ project in Queensland.<\/p>\n That\u2019s a deposit with a JORC 2012 compliant Mineral Resource Estimate (MRE) of 2.1Mt at 1.1% Cu for 21,886t contained metal.<\/p>\n It\u2019s still up, with a 28%+ intraday rise while its execs spruik the company over in ye olde Blighty via the 121 Mining Investment event being held in London over the next couple of days.<\/p>\n Slide 1 pretty much summarises the important bits:<\/p>\n Source: Castillo Copper<\/p>\n Copper is \u201ca stable commodity with traditional and emerging applications\u201d, notes the company.<\/p>\n In fact, that feels something of an understatement given the tear the critical red metal has been on so far this year and the global attention it\u2019s been attracting. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Speaking of things on a tear\u2026 \u201cCHK, CHK, boom\u201d. (Remember that? No? Never mind.)<\/p>\n Cohiba Minerals is back on the rise again to the tune of 70% or thereabouts and is now up more than 150% YTD.<\/p>\n The diverse minerals explorer announced yesterday that it\u2019s all set to change its name and ticker \u2013 to Altair Minerals (ASX:ALR), which will take effect from Friday.<\/p>\n \u201cThe olllld company and ticker name-change pump, eh, Chief?\u201d<\/em><\/p>\n (That one\u2019s from Get Smart<\/em>, right? Somebody? Somebody?)<\/p>\n It has actually had some other news of reasonable note in the past week, announcing a strategic review of the Olympic Domain project, which the company says \u201cadjoins one of the biggest IOCG discoveries\u201d, and where it has \u201cconfirmed strong prospectivity for IOCG mineralisation, which warrants further investigation\u201d.<\/p>\n The big IOCG discoveries Cohiba refers to in particular, include the Oak Dam West site, belonging to BHP \u2013 see below.<\/p>\n Source: Cohiba Minerals \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This emerging copper-gold explorer\/developer is focused on the copper-rich district of Otavi Mountain Land in Namibia, but also the world-class Lachlan Fold Belt of NSW, Australia.<\/p>\n It\u2019s the latter focus that\u2019s pushed GED double digits up today, with drilling set to commence at the company\u2019s 100%-owned Havilah Project to test a series of priority porphyry\/volcanics hosted copper-gold targets.<\/p>\n The company notes that an initial 6-10 reverse circulation and diamond holes (up to 2,500m) will be drilled to test large copper-gold sulphide targets associated with strong sub-surface Induced Polarisation (IP) geophysical anomalies.<\/p>\n The drilling will also test two zones of outcropping copper mineralisation (malachite and the copper sulphide, chalcopyrite) associated with extensive soil anomalies and up to 1% Cu rock-chips, which GED says \u201cmay represent copper \u2018leakage\u2019 from the sub-surface IP sulphide targets\u201d.<\/p>\n Drilling to commence at $GEDs<\/a> 100%-owned Havilah Project to test a series of priority porphyry\/volcanics hosted #Cu<\/a>\u2013#Au<\/a> targets in world-class Lachlan Fold Belt, NSW \u2014 GoldenDeepsLtd (@GoldenDeepsLtd) May 14, 2024<\/a><\/p>\n\n Golden Deeps CEO Jon Dugdale noted that the Havilah project\u2019s setting is similar to other major deposits in the Lachlan Fold Belt, such as Cadia-Ridgeway and North Parkes.<\/p>\n \u201cHaving completed our site clearances and engaged with drilling contractors, we look forward to kicking off our drilling program as soon as our drilling permit applications are approved by the NSW Government,\u201d clarified Dugdale. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0 The post Resources Top 5: Sun Silver rises on ASX debut, and silver is \u2018so high grade\u2019 right now for AGC<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Australian Gold and Copper (ASX:AGC)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nAGC share price<\/h2>\n\n
\n\u00a0<\/p>\nSun Silver (ASX:SS1)<\/h2>\n
\n\u00a0<\/p>\nSS1 share price<\/h2>\n\n
\n\u00a0<\/p>\nCastillo Copper (ASX:CCZ)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nCCZ share price<\/h2>\n\n
\n\u00a0<\/p>\nCohiba Minerals (ASX:CHK)<\/strong><\/a> (Altair Minerals)<\/h2>\n
\n\u00a0<\/p>\nCHK share price<\/h2>\n\n
\n\u00a0<\/p>\nGolden Deeps (ASX:GED)<\/strong><\/a><\/h2>\n
Read more: https:\/\/t.co\/dxCgO5vQUs<\/a>#exploration<\/a> #drilling<\/a> #ASXNews<\/a> #ASX<\/a> #copper<\/a> #gold<\/a> pic.twitter.com\/M6Jo0aPWu7<\/a><\/p>\n
\n\u00a0<\/p>\nGED share price<\/h2>\n\n
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