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Juniors on Radar: 5 ASX Explorers to Watch Today

Thu 03 Mar 22, 11:05am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Viking Mines, American West Metals, Global Lithium Resources, Sunshine Gold, Impact Minerals

Viking Mines hits “bonanza” gold

Viking Mines (ASX: VKA) has skyrocketed 45.45% at the open after intersecting grades of up to 36 g/t gold at the Jana’s Reward target, located within the First Hit project. 

The company said this news affirms Viking’s strategy of identifying additional mineralisation outside the previously defined First Hit area to provide growth options for shareholders.

CEO Julian Woodcock commented:

“The Jana’s Reward target was identified from a comprehensive geological review of the tenure using the magnetics, gravity and air core drilling data we collected in 2021. The first bedrock testing in this area were drilled in the December quarter RC drill programme and, with these results, has proved successful.”

Gold nuggets resting on dirt in shallow water

American West Metals intersects strong copper

American West Metals (ASX: AW1) has soared 20.83% at the open after intersecting thick intervals of strong visual copper mineralisation at the West Desert project. Notably, most of this new mineralisation is outside of the company’s historical resource area. 

Managing Director Dave O’Neill said:

“The drill hole confirms the extensions to high value copper, zinc and molybdenum mineralisation in an underexplored part of the mineral system. The fact that these zones still remain open has huge implications for the growth potential for West Desert, particularly with regard to the quality and inventory of copper and molybdenite rich ores.”

Coils of copper lying next to each other

Global Lithium Resources secures 10-year offtake agreement

Global Lithium Resources (ASX: GL1) has jumped 14.09% at the open after signing a 10-year spodumene concentrate offtake agreement with Suzhou TA&A Ultra Clean Technology. 

Suzhou TA&A owns 9.4% of Global Lithium, making them the company’s largest shareholder. Along with this offtake agreement, Suzhou TA&A has expressed intent to provide financial support and construction funding as Global Lithium develops its lithium projects. 

Non-Executive Chair Warrick Hazeldine commented:

“As Global Lithium continues to advance our significant West Australian lithium portfolio, having the continued support of a world leader like Suzhou TA&A is truly an exceptional vote of confidence in our Company, our people and our assets.”

Electric car with lithium batteries plugged into charging station

Sunshine Gold reports best intercept to date at Triumph

Sunshine Gold (ASX: SHN) has jumped 13.33% at the open after reporting strong intercepts from infill and extensional drilling at the Southern Corridor, which is part of the Triumph gold project. 

The company noted a standout assay of 16m at 8.44g/t gold. Moving forward, the company expects to report assays for a further 13 holes in mid March. 

Commenting on the announcement, Managing Director Damien Keys said:

“The intersection of 16m @ 8.44 g/t Au is the best intercept drilled by Sunshine Gold at Triumph, to date. Also encouraging was that the hole contained multiple zones of significant mineralisation, reinforcing the stacked nature of the veins.”

“The remaining 13 holes to be returned are largely infilling previously drilled zones and will contribute to the JORC Resource to be released in March 2022.”

Worker in high vis and gloves holding rock with gold at a mine site

Impact Minerals finds sulphide potential at Broken Hill

Impact Minerals (ASX: IPT) has gained 12.50% at the open after identifying a large electromagnetic (EM) conductor at the company’s Broken Hill project. 

The project is a joint venture with IGO (ASX: IGO), which can spend $6m over 4 years to earn a 51% stake, and then another $12m over 4 more years to reach 75% ownership.

Based on its dimensions and high conductivity, the EM conductor is considered prospective for massive sulphide mineralization, and a follow-up study is a priority.

Managing Director Dr Mike Jones commented:

“The EM conductor lies within a major structure that may have been a feeder zone for the entire Moorkai Trend and in an area with no previous exploration. It is a very compelling target, and we look forward to receiving more results from the EM survey as it progresses.”

Written By

Jed Herne

Content & Strategy

After graduating with a 99.4 ATAR, Jed won 3 scholarships to Curtin University, where he earned his Bachelor's degree and served as a Student Ambassador. He is primarily interested in long-term passive index funds as a vehicle for financial independence. Outside of covering financial news, Jed is a published author, podcaster, and has an unhealthy obsession with bouldering.

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