Big Drill Hits

The biggest gold and lithium hits of the week – Auric Mining, Azure Minerals

Fri 09 Feb 24, 12:20pm (AEDT)
Drilling - Building activity on contruction site. Close-up view of drilling machine.
Source: iStock

Key Points

  • Auric Mining continues to log high-grade drill hits. The company has also recorded almost $30 million in gold sales in the past six months
  • Azure confirms the presence of a major lithium mineralised system at Target Area 3. The stock remains rangebound amid a binding transaction with SQM and Hancock Prospecting

Welcome back to Big Drill Hits – A curated list of the most intriguing intersections made by ASX-listed explorers.


Gold prices are on track to finish the week down around 0.3% to US$2,033 an ounce. The safe haven has struggled for upside amid a resurgence in bond yields and the US dollar.

The below table reflects gold drilling highlights between Monday, 29 January and Friday, 9 February 2024.

2024-02-09 11 57 54-01-18-24 - Excel
Note: (1) 'Interval' reflects the length of the core and 'From' reflects interval start. (2) Only the highest grade thickness intercept is shown (per announcement) and skews towards broader hits with lower-grade mineralisation as opposed narrow hits with higher-grade intervals. (3) While we strive for accuracy, minor discrepancies may exist (4) The data is for illustrative purposes only and may not be an exhaustive list of all drill hits. (5) Share price performance between 2 and 9 February 2024.

Lithium prices have remained relatively flat since late January. Spodumene concentrate prices on the Shanghai Metals Market have been hovering around the US$940 a tonne mark, down from US$1,000 a tonne at the beginning of the year. The sideways action has helped lithium stocks find a footing in recent weeks.

The below table reflects year-to-date lithium drilling highlights (we've put them all together given the lack of drill reports so far this year).

2024-02-09 11 56 12-01-18-24 - Excel
Note: (1) 'Interval' reflects the length of the core and 'From' reflects interval start. (2) Only the highest grade thickness intercept is shown (per announcement) and skews towards broader hits with lower-grade mineralisation as opposed narrow hits with higher-grade intervals. (3) While we strive for accuracy, minor discrepancies may exist (4) The data is for illustrative purposes only and may not be an exhaustive list of all drill hits. (5) Share price performance between 2 and 9 February 2024.

 

 

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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