Juniors on Radar: 5 ASX Explorers to Watch

Black Cat Syndicate continues to expand Majestic System

Black Cat Syndicate (ASX: BC8) has jumped 2.48% at the open after reporting drilling results from the Kal East Gold Project. According to the company, the results are “in line” with previous assays, and show strong mineralisation at depth. 

Managing Director Gareth Solly said: 

“The infill and extensional results from Majestic further confirm the potential of the planned underground mine... Maiden Ore Reserves are planned for completion in the March 2022 quarter.”

Calidus forms new Pilbara lithium explorer

Calidus Resources (ASX: CAI) has partnered with Haoma Mining to form a new lithium exploration company, called Pirra Lithium. The company will be equally owned by Calidus and Haoma, and will gain tenements and lithium rights across both companies’ portfolios.

Investors reacted positively to the news, with Calidus up 5.56% upon opening today.

Managing Director Dave Reeves said:

“Pirra Lithium creates a highly-leveraged exploration opportunity for our shareholders. There is clearly potential to unlock substantial value by exploring what is highly prospective lithium ground in one of the world’s best lithium provinces.”

AuTECO Minerals reports “exceptional drill results”

AuTECO Minerals (ASX: AUT) jumped 10.67% at the open after reporting further drilling results from the Pickle Crow gold project in Ontario, Canada. The results included a hit of 7.3m @ 33.3 g/t gold.

The company is set to release a resource update next month. 

 Executive Chairman Ray Shorrocks commented:

“The more we drill, the more gold we find. This outstanding success rate reflects the world-class quality of the Pickle Crow mineralised system.”

Zenith Minerals reports new drill results

Zenith Minerals (ASX: ZNC) has bounced 3.85% higher upon opening after reporting drill results from the Split Rocks gold project in WA. According to the company, the drilling showed continuity of near-surface gold mineralisation over a strike of approximately 1km.

Commenting on the announcement, CEO Mick Clifford said:

“These new results are from the first batch we have received from the large drill program completed late last year, assays from a further 100 holes are still outstanding.”

Blackstone Minerals invests in nickel project

Blackstone Minerals (ASX: BSX) has invested a 15.11% stake in NICO Resources (ASX: NC1) - a Metals X (ASX: MLX) spinoff which will begin trading tomorrow. Blackstone cited NICO’s Central Musgrave Project as a key motivation for the investment. 

Blackstone believes the project is one of the world’s largest undeveloped nickel resources. Investors seemed to approve: today’s news saw Blackstone jump 5.8% at the start of trading. 

Managing Director Scott Williamson commented:

“We are pleased to have secured a strategic equity position at what we consider to be the lowest point in the valuation cycle for the asset.”