Materials

Juniors on Radar: 5 ASX Explorers to Watch

Fri 07 Jan 22, 11:55am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Fin Resources, IRIS Metals, Auroch Minerals, Todd River Resources, Swick Mining Services, Orexplore Technologies

Fin Resources gains additional Sol Mar licence

Fin Resources (ASX: FIN) has soared 14.81% today after gaining an additional 270km2 licence next to the company’s existing 80%-owned Sol Mar Project, located on the Pilbara coast. The new licence will help Fin’s goal of producing large-scale green products from seawater using renewable energy. 

Executive Director Ryan de Franck commented:

“We are progressing well with key planning, permitting and study activities at Sol Mar. The grant of E08/3355 is a good way to start the year and build momentum in what is shaping up to be an exciting year for FIN.”

Iris Metals completes aeromagnetic survey with positive results

IRIS Metals (ASX:IR1) has identified seven high priority target areas after completing aeromagnetic surveys over the company’s Leonora gold project.

Executive Director, Tal Paneth, commented: 

“The interpretation of the aeromagnetic survey data at the Leonora gold project confirms the project’s prospectivity... we look forward to systematically assessing these new structural features during future drill programs.”

Auroch rallies after starting 2022 exploration activities

Auroch Minerals (ASX: AOU) has jumped 9.9% today after announcing the commencement of the company’s 2022 exploration activities. Of particular note is a major drill programme to start next week at the Saints Nickel Project, which will upgrade and potentially extend the current high-grade mineral resources.

Managing Director Aidan Platel commented:

“We are well-funded and in a great position to continue with our aggressive exploration programmes in parallel to our mine viability studies at Saints and Nepean as we push to create real shareholder value in 2022!”

Todd River Resources resumes exploration

Todd River Resources (ASX: TRT) has jumped 5.26% after resuming on-ground exploration at the Berkshire Valley nickel, copper, and platinum-group elements project in Western Australia.

Commenting on the announcement, Managing Director Will Dix said:

“We are delighted to continue the drilling program at Berkshire Valley with the focus significantly shifting to deeper drilling following the successful reconnaissance program drilled late last year.”

Swick Mining Services continues Orexplore demerger

Swick Mining Services (ASX: SWK) has completed the in-specie distribution of shares in Orexplore Technologies (ASX: OXT) to eligible Swick shareholders. Since Orexplore’s demerger was approved on 22 December 2021, the spin-off has raised $2.44m from eligible Swick shareholders. 

According to Orexplore, the company plans to develop core analysis technology, with mobile units that can provide rapid on-site composition scans.

Combined with $12m seed money from Swick, Orexplore will soon commence as an independent company with over $14m in cash. Orexplore shares are scheduled to start trading on the ASX around 21 January.

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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