Juniors on Radar: Explorers on the Move Today

The S&P/ASX 200 materials index opened 0.12% higher today, outperforming the ASX 200. 

3-month chart of the S&P/ASX 200 materials index, with the ASX 200 shown in red. 

#1 Silver

Silver prices have opened 1.01% higher today, up 10.61% year-to-date, as investors flow into safe-haven precious metals.

• Rimfire Pacific Mining (ASX: RIM) is up 12.5% at the open. While the company is primarily focused on gold and copper, Rimfire also has some silver exposure. 

#2 Zinc

Zinc prices have risen 1.54% today, up 19.76% year-to-date. 

Currently priced at US$4,320/t, zinc is edging back up towards its all-time high of US$4603/t, which was reached in November 2006.  

• Dateline Resources (ASX: DTR) is up 4.35% at the open and up 20% over the last year. The company’s Udu Mine in Fiji has an inferred resource of 4.5Mt at 3.9% zinc. 

Company announcements

#1 Krakatoa Resources

Krakatoa Resources (ASX: KTA) has opened 73.73% higher after announcing a clay-hosted rare earth discovery at the Mt Clere project in WA. The results come from the first 21 air core drill holes completed at the Tower prospect in December 2021.

“This discovery has come at a great time for the Company and our shareholders,” says CEO Mark Major. 

“We are now in a strong position to capitalise on this potential as we have only covered a six square kilometre area, mineralisation is open, thick and close to surface. Significantly, we have multiple other high priority targets within the extensive 2,300sq.km property.”

Next catalyst: assay results at Mt Clere are still pending from a further 18 holes. 

#2 Ragnar Metals

Ragnar Metals (ASX: RAG) has opened 31.25% higher after reporting final assay results for recent drilling at the Granmuren Deeps nickel-copper discovery, located in Sweden. 

Chairman Steve Formica commented:

“The modelling and interpretation to date show this to be an extensive system with the potential to host significant tonnage of Ni-Cu-Co metals.”

“It is open and increasing in size and grade with depth, similar to Anglo American’s Sakatti Deposit in Finland which Ragnar continues to form its geological modelling around.” 

Next catalysts: 4 more drill holes will target magmatic sulphide accumulations at the project, and a DHIP-R geophysical survey is currently underway. 

#3 Anax Metals

Anax Metals (ASX: ANX) has opened 39.18% higher after intersecting what the company describes as “spectacular massive sulphides” at Whim Creek in WA.  

“While assay results are still awaited, intersection of massive copper and zinc sulphides and confirmation of historically defined mineralisation is exciting,” says managing director Geoff Laing.

Next catalyst: metallurgical test work is scheduled to soon begin. The company expects this “to confirm visual estimates of compatibility with existing processing design engineering work.”