Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch

Mon 10 Jan 22, 11:03am (AEST)

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Key Points

  • Five juniors with interesting announcements today
  • Carnaby Resources, Medallion Metals, Kingfisher, Pantoro, Adriatic Metals

Carnaby Resources announces strong drill results

Carnaby Resources Limited (ASX: CNB) has reported further drill results from the Nil Desperandum Prospect in the Greater Duchess Copper Gold Project, located in Mt Isa, Queensland. Despite the assays confirming broad high grade copper gold discovery, the company fell -8.7% upon opening today.

Managing Director Rob Watkins commented:

“We look forward to receiving more results shortly and the imminent start of 2022 exploration.”

Medallion Metals reports further drill results

Medallion Metals Limited (ASX: MM8) has announced further drilling results from the company’s Gem deposit (formerly Kaolin). According to the company, the drilling includes some of the widest intersections recorded to date.

Managing Director Paul Bennett said:

“These results continue to demonstrate the continuity of broad zones of mineralisation at the western end of Gem at shallow depths. The combination of grade and width demonstrate the potential for this area to deliver material additions to the existing 674koz gold resource at Kundip.”

Kingfisher hits significant rare earths discovery

Kingfisher Mining (ASX: KFM) jumped 25% upon opening today after today’s announcement established significant potential for a rare earths project. Recent drilling delivered 12m at 1.12% total rare earth oxides (TREO) at the company’s Mick Well Prospect.

Executive Director and CEO James Farrell commented: 

“The discovery of rare earths mineralisation at our Gascoyne projects is an outstanding result for the Company and its shareholders.”

Pantoro extends strike after further drilling activities 

Pantoro Limited (ASX: PNR) has reported strong platinum group elements (PGE), nickel, and cobalt assays from drilling activities three kilometres north of existing results on the Lamboo ultramafic basal contact, at the company’s Halls Creek Project.

Commenting on the announcement, Managing Director Paul Cmrlec said:

“We eagerly await additional results from the December 2021 drilling campaign. Field mapping and sampling in the ensuing period will ensure that drill targeting is as efficient as possible in the 2022 drill season where Pantoro intends to cover the majority of the system with first pass drilling.”

Adriatic Metals completes US$142.5m debt financing package

Adriatic Metals (ASX: ADT) has completed definitive documentation for the US$142.5m debt financing package with Orion Resource Partners. The terms of the debt package have remained identical since they were first announced on 12 October 2021. 

Paul Cronin, Adriatic’s Managing Director and CEO, commented: 

“Adriatic Metals has entered a new phase with the Vares Silver Project fully funded through to production. This significantly de-risks the Company and puts us in a strong position to become Europe’s next miner, providing the continent with locally sourced, strategic metals.”

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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