Materials

Juniors on Radar: 5 ASX Explorers to Watch

By Market Index
Fri 14 Jan 22, 11:13am (AEDT)
news_junior_5_fri

Key Points

  • Five juniors with interesting announcements today
  • Andrea Resources, Alice Queen, Critical Resources, Castillo Copper, PNX Metals

Andrea Resources confirms sulphide discovery

Ardea Resources (ASX: ARL) has reported a massive nickel sulphide discovery at its Kalpini Project, 70km northeast of Kalgoorlie, WA. The announcement spiked the company’s share price 10.78% upon opening today. 

Managing Director Andrew Penkethman commented:

“With Ardea holding 20km of fertile komatiite strike at Emu Lake, there is significant scope to extend this nickel sulphide discovery and make additional discoveries.”

Alice Queen moves towards a golden crown

Alice Queen (ASX: AQX) jumped 11.11% upon opening today, after reporting assay results from recent drilling at the Horn Island Project, located in the Torres Strait, QLD.

Managing Director Andrew Buxton commented:

“It is very encouraging that this program returned positive gold results from all tested stockpiles.”

Critical Resources hits base metal sulphides

Critical Resources Limited (ASX: CRR) has encountered further massive and base metal Sulphides in the sixth hole of the company’s drilling campaign at the Gibsons prospect. This prospect is part of the broader Halls Peak project in NSW. 

So far, the news has failed to move investors, with the company down -1.12% upon opening.

Managing Director Alex Biggs said:

“To intersect Massive Base Metal Sulphides at depth again shows that the Halls Peak project is a highly mineralised system that warrants the time, effort and exploration activity currently taking place.” 

Castillo Copper proposes battery metal potential

Castillo Copper (ASX: CCZ) dropped -13.36% upon opening, after reporting cobalt, copper, and zinc assays at the company’s Broken Hill Alliance project. The decline suggests investors were underwhelmed with the announcement. 

Managing Director Simon Paull commented:

“This is a timely discovery that significantly enhances the Project’s exploration potential for battery metals, especially as it coincides with the NSW government launching its critical minerals and high-tech metals strategy.” 

PNX Metals intersects more near-surface gold

PNX Metals Limited (ASX: PNX) has announced further positive gold assay results from the Glencoe gold deposit, located 170km south of Darwin. However, the market has yet to react to the news, with the company’s share price unchanged upon the start of today’s trading. 

Managing Director James Fox said: 

“Glencoe continues to strengthen with infill and extensional drilling complementing our previous results and supporting the increased scale potential of the deposit.”

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