Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch

Thu 16 Dec 21, 11:26am (AEST)

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Key Points

  • Five juniors with interesting announcements today

Askari Metals announces battery metals and gold exploration update

Askari Metals (ASX: AS2) has announced that comprehensive rock and soil sampling will be completed on the Red Peak Lithium project in January 2022. This follows the identification of lithium minerals during initial site reconnaissance.

Vice President of Exploration Johan Lambrechts commented:

“The Company has also been agile in recognising the commodity markets shift towards Lithium in the battery metals space and we have since moved to acquire highly prospective lithium projects in Western Australia to add maximum value to our portfolio, our investors and a greener future.”

Metro secures short term bridging facility

Metro Mining Limited (ASX: MMI) has signed a $5m short term bridging facility with Greenstone Resources II (Australia) Holdings L.P. and Lambhill Pty Ltd. 

Managing Director and CEO Simon Wensley said:

“This Bridge provides short term and temporary funding if severe weather forces deferment of the final shipments. It will only be drawn down if absolutely necessary. I would like to personally thank Greenstone and Lambhill, who are significant investors and supporters of Metro, for providing this bridging loan.”

Middle Island sells Sandstone Gold Project to Aurumin for $12m 

Middle Island (ASX: MDI) has sold its wholly owned subsidiary Sandstone Operations Pty Ltd – the holder of the Sandstone Gold Project – to Aurumin (ASX: AUN). The $12m deal includes $6m cash and $6m of Aurumin shares.

Middle Island Executive Director Brad Marwood commented:

“The transaction structure allows Middle Island’s shareholders to retain a significant indirect interest in the upside potential of the Sandstone Gold Project via the Aurumin shares to be issued to Middle Island.”

Aeris Resources reports maiden mineral resource estimate for Constellation deposit

Aeris Resources (ASX: AIS) has announced a maiden mineral resource estimate of 3.3m tonnes at 1.4% copper (47kt contained copper) for the Constellation deposit in the Tritton tenement, New South Wales. 

Commenting on the announcement, Executive Chairman Andre Labuschagne said:

“To go from initial discovery to maiden Mineral Resource in just over 12 months is a fantastic outcome by our exploration team.”

Australian Gold and Copper gains Cobar Basin exploration licences

Australian Gold and Copper (ASX: AGC) has received ministerial approval for 840km2 of Cobar Basin exploration licences by winning an expression of interest with the NSW Government. The news expands AGC’s land holding in the Cobar Basin to a total of 1,075km2.

Managing Director Glen Diemar commented:

“There are good reasons why this new licence is surrounded by the mid to large cap miners, the Central Lachlan has seen many incredible, high value discoveries recently and this cements the focus AGC have held within 2021 in growing our assets above all else.”

Written By

Jed Herne

Content & Strategy

After graduating with a 99.4 ATAR, Jed won 3 scholarships to Curtin University, where he earned his Bachelor's degree and served as a Student Ambassador. He is primarily interested in long-term passive index funds as a vehicle for financial independence. Outside of covering financial news, Jed is a published author, podcaster, and has an unhealthy obsession with bouldering.

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