Juniors on Radar: 5 ASX Explorers to Watch Today

Jindalee Resources reports big lithium intercepts

Jindalee Resources (ASX: JRL) has opened 15.53% higher after reporting what the company described as a “huge” lithium intercept at the McDermitt project, located in the US. 

The company noted that these intercepts were amongst the best drilling results to date. With this announcement, the company has now reported all assays from 2021 drilling. 

Moving forward, the company has already secured all required drill permits for this year’s exploration. Jindalee will investigate untested mineral potential to expand the company’s mineral resource, along with seeking opportunities for higher grade material.

Poseidon Nickel receives federal grant

Poseidon Nickel (ASX: POS) has opened 10.34% higher after the company – in partnership with Pure Battery Technologies – received a $119.6m grant from the Australian Government to advance PBT’s battery material refinery hub.

PBT aims to produce up to 50,000t of precursor cathode active material from the refinery each year. 

Managing Director and CEO Peter Harold said:

“This project will add significant value to the battery minerals it processes, and Poseidon is well placed to be a major beneficiary given it has the potential to be a significant supplier of feed to PBT’s proposed PCAM Hub from our existing 400,000 tonne nickel resource1 base and nickel concentrators at Black Swan and Lake Johnston.”

Mithril Resources intercepts high-grade gold and silver

Mithril Resources (ASX: MTH) has opened 10% higher after intercepting high-grade silver and medium-grade gold at the Copalquin gold-silver project in Mexico.

Intercepts included:

• 2.3m at 1.75 g/t gold, 135 g/t silver from 109m

• 8.1m at 1.64 g/t gold, 106 g/t silver from 77.3m

According to Undervalued Equity, silver concentrations above 50 g/t are considered high grade. For gold, the 1.5-5g/t range is considered medium-grade. 

CEO and Managing Director John Skeet commented:

“The vein system at La Soledad has been extended and we have intercepted veins further east of La Soledad and along strike at Los Pinos. Mapping and soil sampling has developed a large new target along the same mineralised trend at La Montura to be drill ready.”

“Together with planned deep drilling at El Refugio and the confirmed extension at Refugio West, Copalquin is well positioned for significant gold-silver resource growth throughout 2022.” 

GTI Resources finishes drilling at Thor uranium project

GTI Resources (ASX: GTR) has opened 9.52% higher after completing a maiden drilling program at the Thor ISR uranium project in Wyoming, USA.  

The company plans to report results in the first half of April.

Commenting on the announcement, Executive Director Bruce Lane said:

“The drilling campaign was concluded on time and within budget and has demonstrated a continuation of uranium mineralisation first discovered in the eastern part of the project area during late 2021.”

With Uranium prices recently moving past an 11-year high, Lane notes that “there has rarely, if ever, been a better time to define ISR uranium resources in Wyoming.”   

Australian Vanadium progresses offtake agreement

Australian Vanadium (ASX: AVL) has opened 8.16% higher after signing a letter of intent with Wingsing International – the commercial arm of China-based Tianzhu Steel – to offtake iron titanium produced by the Australian Vanadium Project. 

The company expects to make about 900,000t of iron titanium coproduct each year. 

Managing Director Vincent Algar commented:

“These agreements further validate AVL’s strategic decision to locate its vanadium processing plant close to Geraldton’s port, strengthening the AVL pathway to funding and project development.”