Frontier Resources (ASX: FNT) has jumped 5.41% today after Southern Geoscience Consultants (SGC) identified 12 priority 1 targets for immediate further exploration at the Gascoyne rare earths project in WA.
According to the company, the Gascoyne region is shaping up to be the next major rare earth mineral district in Australia:
Multiple new discoveries have been made by Dreadnought Resources (ASX: DRE)
Hastings Technology Metals (ASX: HAS) is progressing the world class Yangibana mine towards construction and development.
Non-Executive Chairman David Frances commented:
“The targets generated from the highly detailed review by Southern Geoscience are a great start for the Company’s Gascoyne REE project. Having multiple high-priority anomalies to follow up is an exciting prospect given the underexplored nature of the region.”
Moving forward, heritage surveys and a program of works are to be submitted for a maiden drill program in Q2 2022.
Ardea Resources (ASX: ARL) has jumped 3.47% at the open after drilling at the Highway nickel-cobalt deposit confirmed high-grade near surface nickel-cobalt mineralisation.
Standout intercepts include:
12m at 1.01% nickel and 0.22% cobalt from 16m.
22m at 0.56% nickel and 0.47% cobalt from 38m.
Highway is a vital satellite plant feed source for the company’s Kalgoorlie Nickel Project – Goongarrie Hub (KNP). The KNP is WA’s largest nickel deposit, according to an independent classification by the Geological Survey of Western Australia.
Managing Director Andrew Penkethman said:
“With the Highway geological model now confirmed, we eagerly await the results of the ALS benchscale metallurgy, testing the Highway flowsheet model. These results will feed into ongoing DFS work flows and continue to enhance the KNP Goongarrie Hub as a globally significant source of sustainable and ethical minerals to fuel the battery revolution.”
First Graphene (ASX: FGR) has soared 8.11% at the open after gaining a UK patent for coating anode particles with graphene.
The company said that this process provides a simplified, sustainable method for using silicon as battery anodes, which have the potential to increase energy density 10x more than regular graphite anodes.
Existing carbon anodes usually have an energy density of 400mAhg. By comparison, the equivalent theoretical value for silicon is much higher, at 4200 mAhg.
Further research is needed to optimise these efficiency gains. The company has noted “multiple issues associated with using silicon particles.”
However, today’s investor response suggests the company’s strengthened intellectual property portfolio will prove valuable in the growing battery market.
CEO and Managing Director Michael Bell commented:
“This patent in the United Kingdom is an exciting step towards protecting our investment in energy storage research and development and paves the way to the next generation of graphene enhanced silicon battery anodes. Furthermore, this process enables petroleum feedstock to be used in the production of graphene enhanced silicon anodes in an environmentally friendly process.”
Titanium Sands (ASX: TSL) has soared 12.50% at the open after securing a facility to borrow up to $2m through agreements with the company’s two major shareholders.
The funds can be drawn at any time before the end of 2022, and must be repaid by 10 March 2023.
The lenders can choose to receive repayments in cash or shares.
Cash repayment will incur 9% interest per annum.
Share repayment will need shareholder approval, and will be issued at $0.041 per share.
Titanium believes the deal is favourable to existing shareholders and shows great support from the funders, given the conversion price of $0.041 is a 71% premium to Wednesday’s closing price of $0.024 .
Commenting on the announcement, Managing Director Dr James Searle said:
“The support shown by the Company’s two largest shareholders is very encouraging given the conversion price of the facility being a 71% premium to Wednesday's closing price. As the drilling program advances towards completion and release of updated results, the facility provided, particularly the pricing, indicates the level of faith and belief the funders have in the project.”
Eastern Metals (ASX: EMS) has jumped 3.77% higher this morning after completing the first of four holes for the maiden drilling campaign at Browns Reef, located near the town of Lake Cargelligo (about 470km west of Sydney).
Massive and disseminated sulphide mineralisation was intersected in two significant intervals – one over 3m (with an estimated true width of 1.8m), and a second, thicker zone over 18.7m (estimated 11.2m true width).
Core samples will soon be submitted for assays.
Managing Director and CEO Wayne Rossiter commented:
“We are delighted with this result as we did not expect the mineralisation to be as strongly developed over such a wide interval.”
“This is the first stage of a concerted drilling effort to build a potentially mineable tonnage at Brown Reef within the larger mineralised system.”
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