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Big Drill Hits
Big Drill Hits: The best lithium and gold hits of the week
By
Kerry Sun
Fri 19 May 23, 2:47pm (AEST)
Source: iStock
Stocks in article
Key Points
- Patriot Battery Metals and Latin Resources reported strong drill results, which led to share price gains
- Patriot Battery Metals has been consistently releasing drill results since December, which have been well-received by investors
Welcome back to Weekly Big Drill Hits – A curated list of the most intriguing intersections made by ASX-listed explorers.
It was a rather lacklustre week for drilling results, with no uranium and nickel hits from our watchlist. We'll take a closer look at the results from Patriot Battery Metals and Latin Resources - both of which drew strong share price reactions.
Lithium
Date range: 15-19 May
Patriot Battery Metals has been pushing out drill results every month since its debt last December. The drill hits tend to be quiet well received, especially when market conditions aren't all over the place and lithium spot prices aren't free falling. The stock rallied 15.4% on the day of the drill hits on Wednesday, 17 May and now on the cusp of a fresh all-time high.
Patriot Battery Metals chart (Source: TradingView)
Latin Resources started to break out of its 9-month trading range in early May. This follows non-market sensitive company presentations at the RIU Sydney Resources Roundup and CG Global Metals & Mining Conference on 11 and 12 May. News finally came about on Thursday, 18 May, where the results extended the footprint of its Colina Deposit to over 2.0 km long and 1.0 km wide.
Latin Resources chart (Source: TradingView)
Gold
Date range: 15-19 May
Copper
Date range: 15-19 May
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