Basic Materials

Juniors on Radar: 5 ASX Explorers to Watch Today

Mon 14 Feb 22, 11:46am (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • Winsome Resources, Empire Resources, Scorpion Metals, SensOre, Pursuit Minerals

Winsome Resources prepares for drilling at flagship lithium project

Winsome Resources (ASX: WR1) has gained a diamond drill rig to begin a 2,000m winter drilling program at the Cancet project, located in the James Bay region of Quebec, Canada. Winsome have described Cancet as the company’s “flagship lithium project.”

“We are delighted to have found drilling resources so soon, allowing us to commence a drilling program by the end of February 2022,” says managing director Chris Evans. 

The 20-hole program will involve infill drilling on previously drilled mineralised pegmatite, along with testing new targets. The program will build on two previous campaigns conducted at Cancet in 2017. 

Winsome expects the program to conclude by the end of March. The company has flagged that final assay results may need an additional eight weeks or more for processing, given the high demand on both Quebec and international laboratories.

Evans commented:

“After an intense period of data gathering and interpretation it is very pleasing to have a drill plan that will increase our knowledge of the Cancet pegmatites previously identified. It will also allow us to investigate nearby targets to the north, east and west that appear highly prospective for further lithium mineralisation.”

Winsome Resources drilling diagram
Existing drill holes (blue, green, yellow) shown with planned infill drill holes in white. Pegmatite ore body in beige. (Credit: Winsome Resources)

Empire Resources hits massive sulphides

Empire Resources (ASX: ERL) has skyrocketed 33.33% at the open after reporting massive sulphides at the Smiths Well prospect, Yuinmery. The project is considered to have copper-nickel-cobalt potential. 

The huge gain comes after the company announced 30m of massive to disseminated sulphides was intersected from a 276.1m downhole. 

Still, the company says these preliminary observations are visual only. Samples are currently in the process of chemical analysis at a commercial laboratory.

The Smiths Well prospect remains open to the northeast and down dip. The company expects the copper-nickel mineralisation to continue beyond the zone already identified.

Managing Director Sean Richardson commented:

This outstanding result verifies the strike and plunge extension to the mineralised horizon, offering an excellent opportunity for a significant copper-nickel-cobalt discovery at Yuinmery.”

“The diamond drilling program continues at Yuinmery with hole YDD22-03 targeting strike extensions to the modelled conductor at Smiths Well prospect. The Company looks forward to updating the market as results from this drilling becomes available.”

Sean Richardson, Managing Director at Empire Resources
Sean Richardson, Managing Director at Empire Resources

Scorpion Metals finds multiple lithium targets 

Scorpion Minerals (ASX: SCN) has jumped 6.76% at the open after identifying multiple lithium targets at the Pharos project in WA. 

The company has found multiple targets along a 25km zone of intrusion, with significant lithium (Li), tantalum (Ta), and tin (Sn) soil and rock chip anomalies identified beside a granite greenstone contact. 

Most of the pegmatites at Pharos are yet to be tested. The company plans to drill test further key targets later this quarter. 

Director Bronwyn Barnes said:

“This adds to the exciting PGE-Ni-Cu & Au targets identified in a review completed last week, so there is clearly strong potential for significant mineralisation within this underexplored region.”

“We now have a suite of compelling PGE-Ni-Cu & Au and LCT targets at Pharos and plans are well advanced to accelerate exploration activities as quickly as possible. These initial works will include mapping, soil and rock chip sampling and RC drilling.”

Bronwyn Barnes, Director at Scorpion Minerals
Bronwyn Barnes, Director at Scorpion Minerals

SensOre confirms mineralised gold system

SensOre (ASX: S3N) has risen 5.48% at the open after reverse circulation drilling at the Balagundi project confirmed a mineralised gold system. 

Balagundi is a joint venture located near Kalgoorlie, WA. SensOre owns a 60% stake, and DGO Gold (ASX: DGO) owns 40%. 

Today’s drilling results included 34m @ 0.54g/t gold (Au) from 96m. 

The company also noted the interception of elevated multi-element pathfinder elements, which may indicate a larger mineralised system nearby. 

SensOre has created proprietary AI-enhanced technology to improve the analysis of geoscience data and increase the potential for mineral discovery. By applying this to Balagundi, SensOre has built a “comprehensive targeting dataset” which will be used in the next drilling phase to test the anticipated mineral system.

CEO Richard Taylor commented:

“SensOre’s methodical approach to early drilling, acquisition of infill geophysics and multielement geochem is paying off with elevated gold in all holes drilled. It is the beginning of an exciting period of exploration at Balagundi.”

SensOre has secured drill rigs to complete a further drilling program beginning in Q2 2022.

Pursuit Minerals provides Warrior exploration update

Pursuit Minerals (ASX: PUR) has jumped 4% at the open after providing an update on the Warrior platinum-group elements, nickel, and copper project, located in WA. 

At the Calingiri East prospect, a 40 sq.km auger sampling program has been completed, with samples currently being analysed. During this program, outcropping ultramafic rocks were identified in new areas. The company will follow this up with air core drilling in April. 

Likewise, an auger geochemical program has stared at the Bindi Bindi prospect. The company expects this to be done in early March. 

Commenting on the announcement, Managing Director Mark Freeman said:

“The presence of outcropping ultramafics demonstrates that our Warrior ground has the right host rocks for Ni-Cu-PGE mineralisation, and we look forward to the upcoming Air Core program.”

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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