Juniors on Radar: 5 ASX Explorers to Watch

By Market Index
Thu 13 Jan 22, 11:56am (AEDT)

Key Points

  • Five juniors with interesting announcements today
  • Carnaby Resources, Maximus Resources, Cohiba Minerals, Predictive Discovery, and Hot Chili

Carnaby Resources reports “stunning” drill results

Carnaby Resources (ASX: CNB) has soared more than 40% upon opening today, after announcing high-grade assays from the Lady Fanny Prospect in the Greater Duchess Copper Gold Project in Mt Isa, Queensland. The results include 27m @ 2.8% Cu and 0.8 g/t Au from 61m.

Managing Director Rob Watkins commented:

“These stunning first pass drill results from Lady Fanny just 3 km north of the spectacular Nil Desperandum high grade discovery really demonstrate the untapped potential of the greater than 5km long IOCG corridor that is rapidly emerging within the Greater Duchess Copper Gold Project.” 

carnaby chart

Carnaby's price over the last 3 months.

Maximus Resources confirms new high-grade gold 

Maximus Resources (ASX: MXR) has announced initial assays from the Redback Gold deposit at the Wattle Dam project, located 24km from Kambalda, WA. The results include several zones of high-grade gold up to 21.3 g/t Au.

Managing Director Tim Wither said:

“These results, and ongoing intersections of alteration zones, analogous to those observed at Redback and at Wattle Dam, continue to increase our confidence in the near-term development potential of another high-grade gold mine at Wattle Dam.”

Cohiba Minerals struggles after announcing assays

Cohiba Minerals (ASX: CHK) has provided exploration results from the Horse Well project in South Australia. 

While the the assays included excellent copper grades up to 10.85%, this bonanza grade was something of an outlier, with most of the grades falling between 0.85% and 1.7% at around 1 metre. Investors appeared far from impressed, with the stock dropping -10.53% upon opening.

CEO Andrew Graham commented:

“The mineralisation is becoming more pervasive, and we have seen a considerable increase in gold and silver mineralisation as well as copper.”

Is Predictive Discovery set for a bright future?

Predictive Discovery (ASX: PDI) has announced new drilling results at its Bankan Gold Project, located in Guinea. 

Commenting on the announcement, Managing Director Andrew Pardey said:

“This deeper drilling continues to extend the high-grade zone, now more than 100m below the open-pit, confirming Bankan as one of the most exciting gold deposits globally.”

Hot Chili heats up Cortadera’s open pit potential

Hot Chili Limited (ASX: HCH) has reported further drill results from the Cortadera copper-gold discovery in Chile. The results have expanded the deposit ahead of a global resource upgrade for the company’s Costa Fuego copper development.

Managing Director Christian Easterday commented:

“We commence the year with $34 million in treasury, 100 percent ownership of Cortadera, Glencore as a strategic investor and our Company now consolidated and dual-listed in Canada. It is pleasing to see further growth in Cortadera’s open pit potential with these new drill results.”

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