Juniors on Radar: 5 ASX Explorers to Watch Today

Thu 24 Mar 22, 11:49am (AEST)

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Key Points

  • Five juniors with interesting announcements today
  • +19.44% Aurumin - identifies lithium potential
  • +7.23% Stavely Minerals - high-grade gold results
  • +4% Meeka Gold - discovers new rare earth zone
  • +6.38% Boadicea Resources - completes auger sampling
  • +5.26% Caprice Resources - resamples Island gold project

Aurumin identifies lithium potential at Mt Palmer

Aurumin (ASX: AUN) has opened 19.44% higher after soil sampling confirmed potential lithium pegmatite mineralisation at the Mt Palmer project. 

Historically, the project previously produced 158,000oz of high-grade gold before commercial operations stopped in 1944. 

Managing Director Brad Valiukas commented:

"We are pleased to add this extra dimension to Mt Palmer for 2022 and the programme is prospective for both gold and lithium. Our phase 1 soil samples and associated rock chip samples are currently at the laboratory for full multi element analysis.”

The company is running a second soil sampling program, and plans to conduct a reconnaissance drilling program after receiving the required approvals. 

Stavely Minerals reports high-grade gold results

Stavely Minerals (ASX: SVY) has opened 7.23% higher after reporting high-grade gold assays for the Toora West prospect. 

Chair and Managing Director Chris Cairns said:

“While the Toora West porphyry prospect is at an early stage of reconnaissance exploration, we are excited by what our recent drilling and geophysical programs have revealed.”

Moving forward, the company plans to conduct diamond drill tests to follow up these results “at the earliest opportunity.”

Massive quartz vein with chalcopyrite and molybdenite
Massive quartz vein with chalcopyrite and molybdenite. Source: Stavely Minerals

Meeka Gold discovers new rare earth zone

Meeka Gold (ASX: MEK) has opened 6.38% higher after intersecting new zones of thick high-grade rare earth elements (REEs) at the Circle Valley project. 

CEO Tim Davidson commented:

“Now we have received results for approximately 1,200m of the total 15,100m drilled at Circle Valley over the previous two field seasons it is apparent there is an opportunity in the exploration for ionic adsorption clay REE style mineralisation here.”

The company is currently analysing remaining samples from 2021 and 2022 drill programs for REEs. Previously, these were only analysed for gold. 

Results are expected over the coming months.

Boadicea Resources completes auger sampling

Boadicea Resources (ASX: BOA) has opened 5.26% higher after finishing initial exploration activity at the Bald Hill East lithium project. 

Commenting on the announcement, Managing Director Jon Reynolds said:

“The completion of the first phase of exploration activity at the Bald Hill East lithium program paves the way for more advanced exploration with drill testing of potential lithium targets. The interpreted along strike extension of the Bald Hill Mine provides Boadicea the most advanced exploration opportunity for a potential commercial lithium discovery.” 

Assays from this initial exploration are currently pending. 

Exploration Activity with Bald Hill mine in background
Exploration Activity (E15/1608) with Bald Hill mine in background. Source: Boadicea Resources

Caprice Resources resamples Island gold project

Caprice Resources (ASX: CRS) has opened 4% higher after aircore resampling increased gold prospectivity at the Island gold project. 

Standout results include:

  • 1m at 3.9g/t gold from 28m

  • 3m at 1.2g/t gold from 50m

According to Undervalued Equity, samples between 1.5-5g/t gold are considered medium-grade. 

Managing Director Andrew Muir commented:

“Generating multiple +1g/t gold intercepts in a first pass aircore program in an untested area is an outstanding result. In addition, the scale and coherence of the anomaly is very encouraging.”

“The aircore program successfully demonstrated that this new area is prospective for gold mineralisation. We look forward to follow-up aircore drilling soon to refine the anomaly with a view to generating targets for deeper RC drilling.”

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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