Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch today

Mon 07 Feb 22, 12:30pm (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Australasian Metals, Gold Mountain, Lithium Energy, Cooper Metals, and Cohiba Minerals

Australasian Metals to trade on Frankfurt Stock Exchange 

Australasian Metals (ASX: A8G) has jumped 3.77% today after announcing that the company will trade on the Frankfurt Stock Exchange (FSE). The company’s shares will begin trading today under the code 8ON.

The FSE is Germany’s largest stock exchange. By listing on the FSE, the company hopes to attract European and other international investors. 

Managing Director Dr Qingtao Zeng commented:

“Quotation on Frankfurt offers the Company a great opportunity to broaden its shareholder base and increase general liquidity of its shares by accessing new capital markets. The timing of the quotation on FSE comes just as junior lithium explorers are gaining increased attention from investors globally.”

Currently, Australasian Metals is exploring lithium prospects in the Northern Arunta pegmatite province, located in the Northern Territory. The company recently expanded its stake in the region by acquiring 880 sq.km of prospective ground at the Barrow Creek lithium project.

Picture of the city of Frankfurt, Germany

Frankfurt: the location of Germany's largest stock exchange.

Gold Mountain finds best gold assays to date

Gold Mountain (ASX: GMN) has soared 14.29% at the open after reporting the highest gold assays to date at the Mt Wipi prospect. 

Assays from the third and and fourth drill holes have returned results that included:

  • 1m @ 6.54 g/t gold (Au) from 115m 

  • 18m of 0.21 g/t silver (Au) from 240m

CEO Tim Cameron commented:

“These gold intercepts and associated alteration contained within broad zones of mineralisation are in my opinion very significant and build my confidence that we are getting closer to a major find.”

Along with these gold and silver results, other exploration activity has identified significant rock chips assays for copper, gold and molybdenum. The company also noted porphyry pathfinder elements which confirm a mineralised corridor extending 17km from Mt Wipi though Sak Creek and into Monoyal. 

“The ongoing discovery of highly mineralised rock chip results from the Mt Wipi – Sak Creek – Monoyal structural corridor also reinforce our belief that the broader Wabag Project is highly prospective and additional targets will emerge,” says Cameron. 

Tim Cameron Gold Mountain CEO

Tim Cameron, CEO of Gold Mountain.

Lithium Energy hits key milestone for Solaroz Lithium Project

Lithium Energy (ASX: LEL) has jumped 7.04% after gaining Environmental Impact Assessment (EIA) approval to start exploration works at the Solaroz lithium brine project in Argentina. 

According to the company, Solaroz is set in the highly prospective Lithium Triangle in Argentina. The project is close to projects by lithium majors Allkem Limited (ASX: AKE) and Lithium Americas Corporation (NYSE: LAC). 

Lithium Energy has engaged with geophysics and drilling contractors to prepare for exploration. First stage mapping – along with a geophysics programme – will soon begin at the Payo tenement.

Executive Chairman William Johnson commented:

“This is a positive endorsement by the Argentinian Government Authorities of the Solaroz Lithium Project and I look forward to mobilising to site and commencing work shortly on this highly prospective project.”

“There is no better address to be exploring for lithium than the prolific Lithium Triangle where a number of world class lithium brine projects have been discovered.”

Cooper Metals finds wide-spread copper and gold

Cooper Metals (ASX: CPM) has soared 22.83% after reporting wide-spread copper (Cu) and gold (Au) mineralisation at Mount Isa East. 

Infill rock chip sampling has returned up to 9.85% Cu and 2.58g/t Au. This suggests higher gold potential than the company previously expected. 

Further old workings found at the Python prospect have extended known mineralisation, with rock chip samples taken near a historical mine shaft showing 8.53% Cu and 0.11 g/t Au.

Likewise, the company has sampled up to 20.2% Cu from an outcrop 640m southeast of the Yarraman workings. Cooper Metals believes this indicates the area’s broader potential.

Commenting on the announcement, Managing Director Ian Warland said:

“Follow-up surface geochemical sampling in the north-eastern part of the Mt Isa East Project continues to impress and build an exciting picture of the broader Cu-Au potential of the Project area.”

“The highest gold result to date of 2.58g/t Au at King Solomon highlights the strong gold potential of the prospect, which was mainly exploited by historical miners for the copper mineralisation.”

The company is currently conducting an electromagnetic survey at the Python prospect.

“The high powered electromagnetic survey underway at Python is designed to aid interpretation of the mineralisation in three dimensions and delineate preliminary drill targets,” says Warland. 

copper-1

Cohiba Minerals confirms copper and gold mineralisation

Cohiba Minerals (ASX: CHK) is up 3.33% today after hitting further copper and gold mineralisation from drilling at the Horse Well prospect. 

The longest intersection was 70.0m @ 0.30% Cu, 0.36 g/t Au, and 1.84 g/t Ag (sliver) from 962m.

The company also reported:

  • Copper grades up to 5.07%

  • Gold up to 3.5 g/t 

  • Silver up to 14.5 g/t

Managing Director Andrew Graham says the results confirm that Horse Well occupies a prospective location.

“The mineralisation is becoming more pervasive with a greater total length of mineralisation compared with HWDD05 [a previous drill hole].”

“With our ongoing focus on the petrology, mineralogy, alteration styles and structures, which are critically important to understanding IOCG [iron oxide copper gold] deposits, we will optimise our potential for exploration success in the Horse well area.”

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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