Juniors on Radar: 5 ASX Explorers to Watch Today

Fri 25 Mar 22, 11:42am (AEST)

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Key Points

  • Five juniors with interesting announcements today
  • +11.76% Mt Monger Resources - applies for three new tenements
  • +8% Great Boulder Resources - improves gold recovery efficiency
  • +5.26% Battery Minerals - sells remaining stake in Kroussou
  • +3.03% Musgrave Minerals - reports strong drill results
  • +2.02% Peregrine Gold - finds lithium anomalism

Mt Monger Resources applies for three new tenements

Mt Monger Resources (ASX: MTM) has opened 11.76% higher after lodging three new tenement applications to expand the Ravensthorpe project, located near Albany, WA. The company considers the tenements to be highly prospective for lithium and rare earth element mineralisation. 

Managing Director Lachlan Reynolds commented:

“Our technical team has recognised that these areas have excellent prospectivity for lithium-bearing pegmatites and ionic clay-hosted rare earth element deposits.”

“Historical exploration programs in the area that were originally looking for gold, copper and nickel have fortuitously also collected critical geochemical assay data that will assist us in the search for these modern targets.”

Great Boulder Resources improves gold recovery efficiency

Great Boulder Resources (ASX: GBR) has opened 8% higher after reporting further testing results on drill chips from the Mulga Bill prospect, located in the Side Well gold project in WA.

In a March 10 announcement, the company achieved gold recoveries around the 88% mark from leach tests. However, further testing has increased overall gold recovery to 99.7%.

Managing Director Andrew Paterson said:

“This is a fantastic result. Achieving an overall gold recovery of 99.7% on a high-grade sample is excellent, but only leaving 0.1g/t in the tail is sensational.”

A collection of gold nuggets against a black background with one specimen in the foreground

Battery Minerals sells remaining stake in Kroussou 

Battery Minerals (ASX: BAT) has opened 5.26% higher after agreeing to sell the company’s  remaining interest in the Kroussou zinc-lead project to Apollo Minerals (ASX: AON) for $250,000 cash. 

Apollo now owns 100% of the project, with no expectation of royalty payment towards Battery Minerals.  

Apollo’s Executive Director Neil Inwood commented:

“The acquisition of the minority ownership interests and the removal of all future vendor royalty and payment obligations underlines the Company’s belief in the future potential of Kroussou and de-risks the development pathway. The transaction is considered a strong value driver for Apollo Minerals given the exciting discoveries made at Kroussou and our excellent ongoing results.”

Musgrave Minerals reports strong drill results at Amarillo

Musgrave Minerals (ASX: MGV) has opened 3.03% higher after reporting high-grade gold assays from reverse circulation drilling at the Amarillo prospect in the company’s Cue gold project. Notable results include:

  • 7m at 23.7g/t gold from 102m

  • 1m at 17.7g/t gold from 80m

For context, anything over 5g/t is considered high-grade, according to Undervalued Equity. 

Commenting on the announcement, Managing Director Rob Waugh said: 

“This is another series of good results and further confirmation that our exploration methodology at Cue is very effective.”

Further drilling is planned at Amarillo to support a maiden mineral resource estimate planned for late 2022

Waugh also noted progress on the company’s other prospects.

“The Resource Estimates for White Heat-Mosaic and Big Sky are progressing with the further receipt of drill results awaited, and will be announced on completion late next quarter.” 

Peregrine Gold finds lithium anomalism 

Peregrine Gold (ASX: PGD) has opened 2.02% higher after identifying lithium, tantalum, gold, lead and silver anomalism at several locations within the Pilgangoora north lithium project. 

Technical Director George Merhi commented:

"It is truly exciting to be exploring a project with extensive pegmatite outcrop only a few kilometres north of Pilbara Minerals’ Pilgangoora mine at such a buoyant time in the lithium market.”

“Based on the positive results of this brief initial orientation program, we believe the lithium fertility of the area is established and our stream sediment sampling protocol will effectively highlight areas of lithium anomalism and help us systematically hone in on drill targets."

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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