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Juniors on Radar: 5 ASX Explorers to Watch Today

Fri 04 Mar 22, 11:17am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • +51.52% Ballymore Resources - confirms large gold system
  • +24.47% Minerals 260 - confirms wide copper-gold zone
  • +18.18% Viking Mines - secures more gold and lithium tenure
  • +10.67% Piedmont Lithium - partner Sayona Mining doubles resource estimate
  • +9.09% Laneway Resources - reports more high grade gold

Ballymore Resources confirms large gold system

Ballymore Resources (ASX: BMR) has skyrocketed 51.52% at the open after drilling confirmed a large gold system at the Ravenswood project. The results extended the previously defined mineralisation zone. 

Significant new intersections include: 

  • 40m @ 1.06 g/t Au from 47m (including 3m @ 9.38 g/t) 

  • 15m @ 0.55 g/t Au from 76m (including 5m @ 1.44 g/t Au)

For context, less than 1.5g/t of gold is considered low grade. 1.5-5g/t is medium grade, and anything above that is high grade. 

Technical Director David A-Izzeddin commented:

“A large area of this breccia remains untested beneath the latest holes and planning is now underway to follow-up this initial drilling campaign.”

Drill core samples
Breccia- and vein-hosted mineralisation grading 3m @ 9.38 g/t Au. Source: Ballymore Resources.

Minerals 260 confirms wide copper-gold zone

Minerals 260 (ASX: MI6) has soared 24.47% at the open after recent assays at the Moora project confirmed a wide copper-gold zone. 

A standout interval saw 24m @ 1.9% copper and 0.7g/t gold from 99-123m.

Anything over 1.5% copper is considered high grade. 

Managing Director David Richards said:

“The recent drilling and geophysical results continue to highlight the potential for large mineralising systems at Moora and Koojan.”

“Given the area was previously unexplored and is still an immature exploration terrain compared with other areas in the state, we believe the upside to be significant.” 

Assays are still pending for 23 holes drilled in January. 

Viking Mines secures more gold and lithium prospective tenure

Viking Mines (ASX: VKA) opened 18.18% higher after adding 60km2 of prospective gold and lithium tenure to the exploration portfolio surrounding the First Hit project, located 50km west of Menzies in WA.

After recently encountering lithium in pegmatites at First Hit, the company has begun a geochemical sampling programme. Results of this could form an upcoming catalyst. 

Viking expects these pegmatites to extend on to this new, extended tenure. 

Managing Director Julian Woodcock commented:

“We know we are in the region where narrow vein high-grade gold deposits occur with the work we have completed at First Hit, including our announcement yesterday of 1m at >36g/t at our Jana’s Reward target. With this development, increasing our access to prospective exploration ground exposes our shareholders to further upside to additional discovery.” 

Piedmont lithium partner Sayona doubles resource estimate

Piedmont Lithium (ASX: PLL) has opened 10.67% higher after the company’s partner, Sayona Mining (ASX: SYA) completed a mineral resource estimate (MRE) for the North American Lithium and Authier projects in Quebec. 

In total, Sayona’s projects contain 119.1mt @ 1.05% lithium oxide. This is well above the previous MRE of 73.7mt. 

Piedmont has 25% stake in both projects, along with 17% equity in Sayona Mining itself. 

Chief operating officer Patrick Brindle said:

“Sayona’s reported doubling of the Mineral Resources at North American Lithium and Authier supports Sayona Quebec’s claim as the largest spodumene resource in Canada, and this is the next step in helping Piedmont achieve its vision of becoming the leading lithium hydroxide producer in North America.”

Laneway resources reports more high grade gold

Laneway Resources (ASX: LNY) opened 9.09% higher after reporting further high grade gold results from drilling at the Sherwood and Sherwood West deposits within the Agate Creek gold project in North Queensland. 

Managing Director Brad Gordon commented: 

“We are pleased to be continuing to get further high grade drilling results with the first  drilling program following up targets generated from  the recently completed multi-element  study.”

“As the drilling campaign continues, we look forward to confirming the IRGS hypothesis for Agate Creek and our initial targets of along strike and deeper extensions of the known gold mineralisation.”

Further assays will be announced over the coming weeks.

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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