Materials

Juniors on Radar: 5 ASX Explorers to Watch Today

Fri 18 Mar 22, 12:11pm (AEST)
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Key Points

  • Five juniors with interesting announcements today
  • +16.67% PVW Resources - releases investor presentation
  • +12.5% Austin Metals - commences drilling at Austin gold project
  • +7.89% Celsius Resources - starts drilling at Opuwo cobalt project
  • +6.25% Kalgoorlie Gold Mining - starts drilling at La Mascotte
  • +6.25% Corazon Mining - confirms new drilling campaign

PVW Resources soars after releasing investor presentation

PVW Resources (ASX: PVW) has opened 16.67% higher after releasing an investor presentation covering the company’s gold and rare earth element (REE) exploration projects. 

The company touted that the Tanami Heavy REE project, located in WA, “has potential to be a company-making, globally significant discovery.”

During March, the company plans to release the following results, which could provide further catalysts for the stock:

  • A mineral resource estimate update for the Jungle Well gold deposit at Leonora 

  • Aircore drill results for the Pappy and Black Flag gold deposits at Kalgoorlie 

  • Drilling results from the Brilliant Well deposit at the Leonora project. 

Austin Metals commences drilling at Austin gold project

Austin Metals (ASX: AYT) has opened 12.5% higher after starting to drill at the Austin gold project. The company plans to finish the aircore drill program by the end of March. 

The company has noted geological similarities to the White Heat and starlight deposits owned by Musgrave Minerals (ASX: MGV), which are adjoined to the Austin gold project. 

Earlier this week, Technical Director Leo Horn said:

“Multiple new structures and targets have been identified from the new gravity data we have compiled and are a very exciting new development for the project. Aircore drilling these targets to identify surface anomalism will be the quickest, cheapest and most efficient way of locating which targets are gold-bearing for follow up RC Drilling.”

Aircore Drilling Rig at the Austin Gold Project
Aircore Drilling Rig at the Austin Gold Project. Source: Austin Metals 

Celsius Resources starts drilling at Opuwo cobalt project

Celsius Resources (ASX: CLA) has opened 7.89% higher after beginning drilling at the Opuwo cobalt project, located in Namibia.  

Managing Director Robert Gregory commented:

"The Opuwo Project has the potential to be a world-class source of future cobalt supply. The conclusion of the drill program to generate ore samples for the commencement of the metallurgical testing and development work programs is an important step in establishing the feasibility of the Opuwo project." 

Drilling at Opuwo
Drilling at Opuwo. Source: Celsius Resources

Kalgoorlie Gold Mining starts drilling at La Mascotte

Kalgoorlie Gold Mining (ASX: KAL) has opened 6.25% higher after commencing drilling at the La Mascotte prospect within KalGold’s Bulong Taurus project. The planned holes will complement recent drill programs, with some of the new holes to explore previously-drilled areas containing strong gold mineralisation.

Commenting on the announcement, CEO and Managing Director Matt Painter said:

“This diamond drill program at the outcropping La Mascotte gold prospect will provide detail needed for the KalGold Team to accurately characterise gold mineralisation, both in the oxide zone and in fresh rock. KalGold expects analysis of the drill core to assist in clearly defining controls on gold mineralisation, provide geotechnical data and define new targets.”

Assay results from January’s drilling are still pending. 

The company has also indicated plans to commence the next phase of reverse circulation drilling in late April or early May. 

Drilling the first diamond hole at La Mascotte
Drilling the first diamond hole at La Mascotte on 17 March 2022 (left) and examining core from the oxide zone (above). Source: Kalgoorlie Gold Mining.  

Corazon Mining confirms new drilling campaign

Corazon Mining (ASX: CZN) has opened 6.25% higher after confirming a new drilling campaign at the Lynn Lake nickel-copper-cobalt-sulphide project, located in Canada. 

Along with the news, the company noted that eligible shareholders can acquire new shares at $0.03 per share through a one for one rights issue. The company plans to use this to raise $10.7 million before costs to fund project development. The offer opened on 17 March and is scheduled to close on 4 April.

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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