Juniors on Radar: 5 ASX Explorers to Watch Today

Melbana Energy - Grant of Petroleum Exploration Permit AC/P70

Melbana Energy Limited (ASX: MAY) has announce that it has been advised by the National Offshore Petroleum Titles Administrator that it has been granted petroleum exploration permit AC/P70, located in the Territory of Ashmore and Cartier Islands, for an initial period of six years.

Melbana made an application for this permit under the Australian Government’s 2020 Offshore Petroleum Exploration Acreage Release.

Petroleum exploration permit AC/P70 contains the undeveloped Vesta-1 oil discovery drilled in 2005. The Vesta-2 appraisal well drilled in 2007 identified a gas cap.

This complex field is an attractive opportunity to a junior explorer like Melbana with the technical capability and track record of identifying new play types and attracting large, well-funded, partners to test its exploration theses – often by overturning conventional thinking.

Melbana Energy’s Executive Chairman, Andrew Purcell, commented:

“Our experience in this sub-basin coupled with the previous discoveries and multiple data sets and play types offered in this permit area affords a good opportunity for a technically strong and motivated junior like Melbana to try and identify its next substantial exploration prospect in Australian waters.”

Our track record gives us some insights into what the market is looking for and we believe demand for more such opportunities will likely remain buoyant, especially if the current oil price is maintained.”

Jindalee Resources – Progressing WA Nickel Sulphide Exploration

Jindalee Resources (ASX: JRL) has updated on nickel sulphide target generation at its 100% owned Widgiemooltha Project in the Eastern Goldfields of WA.

Assisted by a highly regarded komatiite nickel sulphide exploration specialist, Jindalee has completed historic data compilation and geological interpretation with a focus on identifying nickel mineralisation and the presence of basal ultramafic stratigraphy that is a vital component of the Kambalda nickel sulphide ore deposit model.

The technical work to date has identified numerous occurrences of the prospective basal ultramafic stratigraphy and anomalous nickel results from historic drilling within the Widgiemooltha Project tenement package.

Jindalee has commissioned a soil sampling survey across the five target areas with sampling to commence in the current quarter. Jindalee expects to be in a position to prioritise drilling at each of the five target areas once the soil sampling results have been compiled, with drilling to commence in the second half of 2022.

ARK Mines Signs MOU With R3D Resources FOR Copper Ore Sales

Queensland-focused exploration and project development company Ark Mines Ltd (ASX: AHK) has signed a Memorandum of Understanding (“MOU”) with R3D Resources Limited (ASX: R3D) aimed at enabling Ark to fast-track commercialization of its copper oxide mineralisation at its Mt Jesse project by potentially selling ore to R3D at a price based on the prevailing copper price as well as other material factors.

R3D has the capacity to process oxide ore through its heap leach – solvent extraction – crystallization plant which is designed to produce copper sulphate for sales into the Queensland mining industry.

R3D announced earlier this year it was targeting first production in the September Quarter 2022 following a 6-month refurbishment period. R3D’s Tartana operations are located approximately 150km from Ark’s Mt. Jesse project.

Under the MOU, the two companies have agreed to work together to fast track production and sales of copper oxide ore from the Mt Jesse project subject to the MOU conditions.  

ARK Executive Director Ben Emery commented:

“The MOU signing and potential sales of oxide copper ore to R3D is a great outcome for both companies. For ARK it provides a faster route to commercialisation of the oxide copper ore from Mt Jesse.”

Dacian Gold - Maiden Ore Reserves For The Hub And GTS Deposits Adds 13% TO Dacian’s Total Ore Reserves

Dacian Gold (ASX: DCN) has announce a maiden Ore Reserve estimate for the Hub and GTS deposits, part of its Redcliffe Gold Project.

The Redcliffe Gold Project is located in the north-eastern goldfields region of Western Australia, approximately 120km by road from Mt Morgans Gold Operation (MMGO).

The Company is currently developing the Hub and GTS open pits with mining planned to commence during July 2022. Mined ore will be hauled by road trains to the existing processing plant at MMGO.

The development contemplates multiple open pits at Hub, a single open pit at GTS, and the construction of site infrastructure to support the mining operation.

Ore Reserves were estimated using A$2,100/oz gold price with total reserves of 490,000t @ 3.2g/t for 51,000 contained ounces, an increase of 13% to the Company’s previously reported Ore Reserve estimate as of 30 June 2021.

Total Ore Reserves for Dacian now stand at 11.8Mt @ 1.1g/t for 436,A000oz.

Carnegie Clean Energy Signs European Wave Energy Contract

Carnegie Clean Energy (ASX: CCE) has announce that its wholly owned subsidiary, CETO Wave Energy Ireland Limited, has now formally entered a contract under the EuropeWave Pre-Commercial Procurement (PCP) programme, previously announced to the ASX on 8 December 2021 Carnegie wins European Wave Energy Contract.

EuropeWave PCP is an innovative and competitive stage-gate programme designed to advance promising wave energy converter systems to a point from which they can be developed for commercial exploitation through other national/regional programmes and/or private investment.

Carnegie’s CEO, Mr Jonathan Fiévez, commented:

“This is an exciting and leading global project to accelerate the adoption of wave energy technology as a major source of renewable energy. We were extremely pleased to commence the EuropeWave PCP Programme in January 2022 and have been making excellent progress.”

“Already, wave and geological site data from BiMEP and EMEC has been reviewed, Drive Train and Controller hardware for the tank test has been procured and the techno-economic assessments to optimise device scale have been completed.”