Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch

Thu 06 Jan 22, 11:18am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Element 25, Lunnon Metals, Culpeo Minerals, Lithium Power International, Musgrave Minerals

Element 25 resumes operations with improved production volumes

After significant performance improvements and repairs, Element 25 (ASX: E25) has seen improved production volumes at the company’s Butcherbird Manganese Project. The news saw the company open 4.16% higher, before continuing to climb. At the time of writing, Element 25 is up 23.33%. 

Managing Director Justin Brown commented:

“The record daily production of 1,209 tonnes achieved on 3 January is equivalent to annualised production of over 400 Kt per annum which exceeds our 365 Ktpa nameplate capability. Whilst it is premature to make firm forecasts on annual production volumes, it is highly encouraging to see this step-change in process plant performance after the implementation of the planned improvements.”

Lunnon Metals provides update on Foster Nickel Mine

Lunnon Metals (ASX: LM8) has returned further drill results from the Foster Nickel Mine, which forms part of the Kambalda Nickel Project. The results confirm that historically documented unmined nickel is available within the project. 

Managing Director Ed Ainscough said: 

"Now that these assay results are back we can work to finalise the Mineral Resource estimate for this surface.”

Culpeo Minerals increases stake in Las Petacas Copper Project

Culpeo Minerals (ASX: CPO) has increased its interest in the Las Petacas Copper Project by 8%, up to a new total interest of 66%. Initial drilling at the project has confirmed broad copper-gold mineralisation in all holes. In today’s announcement, Culpeo noted the company’s right to earn a maximum of 85% interest in the project. 

Managing Director Max Tuesley commented:

“The increase in Culpeo’s ownership underpins our belief of the potential of Las Petacas to host copper mineralisation in the world class Atacama IOCG region.”

Lithium Power International advances on extensive exploration programs

Lithium Power International (ASX: LPI) has advanced on surveying multiple lithium projects and prospects in Western Australia. Amongst the findings, of particular interest is the company’s drone magnetic surveys over a significant structural anomaly at the Blackwood Prospect. The data is being processed, with further results awaiting announcement. 

Chief Executive Officer Cristobal Garcia-Huidobro commented:

“Activities on all projects and prospects are advancing well, and we aim to make drilling results known once they come to hand.”

Musgrave Minerals identifies new high-grade gold trend

Musgrave Minerals (ASX: MGV) have reported further assays at the Cue Gold Project. The results contain a new gold mineralisation trend with intersections including 2m @ 28.1g/t Au.

Commenting on the announcement, Managing Director Rob Waugh said: 

“These are further strong results and support the upside prospectivity of the Cue Project. We continue to define new targets and hit new mineralised zones.”

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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