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Juniors on Radar: 5 ASX Explorers to Watch Now

Fri 21 Jan 22, 11:01am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Bryah Resources, Cazaly Resources, Australasian Metals, Navarre Minerals, Desert Metals

Bryah Resources Limited: Manganese Drilling Confirms New Mineralised Areas

Bryah Resources Limited (ASX: BYH) has announce the results of drilling completed on the Brumby Creek area of the Horseshoe Manganese Project.

The Project contains extensive outcroppings of manganese and is the subject of a substantial $7m joint venture with OM Holdings Limited (ASX: OMH), a vertically integrated manganese producer and are currently earning-in to a 51% stake in the Joint Venture (JV).

Following a Gradient Array Induced Polarisation (GAIP) geophysical survey, drilling was completed in late September 2021, with results now received.

High-grade intersections have extended the Brumby West prospect and new prospects at Redrum have been discovered. The project now consists of multiple discoveries and resource targets at Brumby West, Brumby East, Area 74 and Black Hill which are additional to Horseshoe South and Horseshoe South on the granted Mining Lease (M52/806).

CEO Ashley Jones noted:

“These excellent results will strengthen the maiden Mineral Resource Estimate for the Project currently underway. As our JV partners OMH progress toward completing their 51% earn-in, we look forward to working with them to bring this historically important region back into manganese production as it was in 2011”.

Cazaly Resources: Exploration update Ashburton & Yabby Projects

Cazaly Resources Limited (ASX: CAZ) has announce that the first on ground regional exploration programs were completed across the Yabby tenements, located in the north-eastern goldfields near Laverton, and across the recently granted tenements on the Ashburton Project, located in the Pilbara region of WA.

Ashburton Project

A total of 1,211 surface samples were collected across the Ashburton Project during November and December 2021 to:

  • Provide a regional scale geochemical database across the tenement package

  • Refine, previously identified structural targets areas.

  • Provide sufficient information across the vast 2,450km2 project area to prioritise gold and base metal targets for further work.

In addition, 23 rock chip samples were collected where outcrops showed visual signs of significant vein material, alteration or sulphide mineralisation. All samples were submitted to the laboratory in December 2021, however due to significant delays with laboratory processing, analytical results are not expected until mid-February 2022.

Yabby Project

The Yabby tenements are located 10km to the west of Laverton in the north-eastern goldfields of Western Australia. The project area covers 16km2 of the highly prospective Laverton Greenstone Belt and has potential for new nickel and gold discoveries.

Cazaly’s MD Tara French commented:

“It’s a great outcome to complete the first phase of surface exploration work over both the Ashburton and Yabby Projects, while we are unable to access our Halls Creek Project for drilling.”

Australasian Metals commences field work across its lithium portfolio

Australasian Metals Limited (ASX: A8G) has provide an update on exploration work at both the Mt Peake Lithium project and the Barrow Creek Lithium projects in the prospective Northern Arunta pegmatite province, Northern Territory.

After the initial field mapping and sampling program in Q4 2021, which returned grades of up to 1.61% Li2O & 223ppm tantalum (Ta), the Company has identified the northwest corner of ELA 32830 as a key area requiring follow-up work, including more detailed mapping and rock chip sampling.

Australasian Metals Managing Director Dr Qingtao Zeng commented:

“We have completed initial mapping and sampling in the northwest corner of ELA 32830, which culminated in identifying high-grade lithium mineralisation within a clearly defined priority area."

"The DGPR survey is an important tool for us to better understand the geology of the mineralised pegmatite units at depth. It is hoped that the survey results will provide valuable information which will be utilised when designing our maiden drill program.”

Navarre Minerals: Maiden Diamond Drilling on St Arnaud’s Nelson Line Intersects Broad Gold and Silver Mineralisation

Navarre Minerals Limited (ASX: NML) has reported diamond core assay results from the recently completed drilling program at its wholly owned St Arnaud Gold Project, 240 kilometres northwest of Melbourne, Vic.

The new assay results come from a 17-hole program consisting of 4,580 metres of drilling, which tested the shallow gold potential beneath the old Comstock open pit on the Nelson Line. The Nelson Line is one of three main lines of reef worked within the historical 400,000-ounce St Arnaud Goldfield.

The drilling has intersected two main mineralised quartz-sulphide bearing structures containing broad zones of irregularly distributed low to medium grade gold, silver and arsenic assays and rare visible gold.

Navarre Managing Director, Ian Holland said:

“The Company is pleased with the results from its first round of diamond core drilling on the Nelson line of reef. We are encouraged by the presence of quartz - sulphide mineralisation with rare visible gold within two main reef structures beneath the old pit.”

Desert Metals: Drilling Started at Belele

Desert Metals (ASX: DM1) has begun drilling on its 5-hole 1100m RC program at Belele.

The program is designed to test a modelled conductor, identified in airborne EM and confirmed by ground EM data. The conductor is semi-coincident with a bullseye magnetic anomaly and may represent sulphides associated with Volcanogenic Massive Sulphide (VMS) style mineralisation.

The 44-hole 3000m Aircore programme designed to test PGE anomalism in recent diamond drilling and soil geochemistry at Innouendy (DM1 ASX announcement 20 December 2020) is expected to start next week.

The program will also follow up on an airborne EM anomaly adjacent to Ni anomalism in historic drilling (announced 26 February 2020).

 

 

 

 

 

Written By

Mark Story

Editor

Mark is an investigative financial journalist and editor who started his career working for Marathon Oil in London. He has a degree in politics/economics and a diploma in journalism. 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. Email Mark at [email protected].

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