Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch

Thu 23 Dec 21, 11:00am (AEST)
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Key Points

  • Five junior miners with interesting results today
  • Besra Gold, Blackstone Minerals, Nova Minerals, Prospect Resources and Twenty Seven Co

Besra Gold second rig underway

Besra Gold Inc (ASX: BEZ) advised that a second drill rig has commenced operations on Besra’s Bau Gold Project. This will accelerate the Company’s drilling program at Jugan before moving to the Pejiru and Bekajang prospects.

The Jugan portion of the drilling program will assist in both upgrading the classification and increasing the overall Resource inventory to support future potential development feasibility studies of Jugan.

Besra’s CEO, Dr Ray Shaw commented:

“Our in-country team together with our contractors continue to deliver despite further recent restrictions arising from the Omicron strain of the Covid-19 virus.

Blackstone Minerals: Mineral Resource update

Blackstone Minerals (ASX: BSX) presents a Mineral Resource update for its 90% owned Ta Khoa Nickel Project (TKNP) in northern Vietnam.

Ta Khoa Mineral Resource Increases 73% to 485kt of Nickel.

“An aggressive drill out over the past twelve months has culminated into a global Ta Khoa Mineral Resource of enviable scale and increased confidence,” noted Blackstone’s managing director Scott Williamson.

“Our Mineral Resource is an early indication of the potential of the Ta Khoa nickel sulfide district, with further aggressive testing already ongoing.”

Nova Minerals increases total gold resource estimate

Nova Minerals Limited (ASX: NVA) has increased its total gold resource estimate by 54.9% to 9.6 million ounces (Moz) at its flagship Estelle Project, located in Alaska’s prolific Tintina Gold Province.

Nova Minerals CEO, Christopher Gerteisen, said the upgrade supported his high confidence in the Estelle Project, which shares geological characteristics analogous to other major Alaskan gold mines including Victoria Gold’s Eagle Mine and Kinross Gold Corporation’s Fort Knox Gold Mine.

“Korbel Main at our Estelle Gold project is a ‘company-making’ deposit with high grades continuing to highlight the massive upside potential that remains,” Gerteisen said.

Prospect Resources to sell 87% interest in Arcadia

Prospect Resources Limited (ASX: PSC) advised that it has, through its 100% owned subsidiary Prospect Minerals Pte Ltd (PMPL), executed a binding Share Sale Agreement (SSA) with Huayou International Mining (Hong Kong) Limited (Huayou), for the sale of its 87% shareholding in Prospect Lithium Zimbabwe (Pvt) Limited (PLZ), owner of the Arcadia Lithium Project (Arcadia) in Zimbabwe (Transaction).

The Transaction represents the culmination of the strategic partnership process undertaken by Prospect since August 2021.

Commenting on the Transaction, Prospect Managing Director and CEO, Sam Hosack, said:

“The entire Prospect team is delighted with this outcome. It is the culmination of a process that gained global traction and generated inbound interest amongst potential partners for the world-class Arcadia Lithium Project.”

“We look forward to working with Huayou and relevant stakeholders within the Government of Zimbabwe to satisfying the conditions precedent, with a view to closing the Transaction in late in Q1 or early in Q2 of 2022.”

Twenty Seven Co completes RC Drilling Campaign

Twenty Seven Co (ASX: TSC) has announced the completion of the latest round of RC drilling at the Company’s 100% owned Rover Gold Project in Western Australia’s Goldfields.

A total of 31 holes for 2,161m has been completed, with 574 samples to be submitted to the laboratory for multi element and gold analysis. First results are expected in early Q1 2022.

Commenting on the Rover drilling program, CEO Simon Phillips said:

“We expect to receive first results in around 5-6 weeks’ time and look forward not only to delineating further gold mineralisation but also to the results of assays for Hole 21RVRC022 given its encouraging intersection of a 4 metre-wide zone of massive sulphides.”

 

Written By

Mark Story

Editor

Mark is an award-winning investigative financial journalist and editor who started his career working for Marathon Oil in London. He has a degree in politics/economics, a diploma in journalism and has completed the Institute of Directors course. Mark has worked on 70-plus newspapers and financial publications across Australia, NZ, the US, and Asia including: The Australian Financial Review, Money Magazine, Australian Property Investor and Finance Asia. Mark is passionate about improving the financial literacy of all Australians through the highest quality content.

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