Top 5: Uranium explorer Haranga explodes as historic drilling confirms strong prospecting on West African project
- HAR’s Flagship Saraya Uranium Target Identified as ‘Very Promising’
- MM1 Receives High Quality Lithium Results at Project Newington
- GED spins the drill bit in Namibia’s high-grade Khusib Springs copper-silver deposit
Here are the biggest small cap resource gainers in early trading on Monday, August 8th.
HAR listed on the ASX earlier this year with a bunch of uranium and gold projects up its sleeve in West Africa.
Included in our “ASX Cheap Uranium Stocks with Rising Yarn,” HAR’s late-stage, large-scale exploration project Saraya has been identified as a “very promising” uranium target following a review of historical drilling.
Significant uranium equivalent intersections not previously reported in historical drilling include 47.8 m at 1630 ppm eU from 72.4 m, 46.2 m at 1548 ppm eU from 42, 2 m, 10.1 m at 5537 ppm eU from 27.7 m and 4.6 m at 8660 ppm eU from 28.1 m
HAR non-executive chairman Michael Davy said the company not only saw significant widths of uranium in many shallow holes, but also high-grade mineralization.
“The planned start of drilling on the Saraya prospect will coincide well with the ongoing regional termite mound sampling program underway across the permit.
“Interestingly, historical drilling was only concentrated on 0.5 square kilometers of the 1,650 kilometer permit and many other significant radiometric anomalies have already been identified for follow-up drilling.”
This lithium explorer with a market capitalization of around $12.2 million has received assay results from 56 additional rock chip samples taken from around 10 km of Kawana and Mt Correll pegmatite swarms at the Newington project in Western Australia.
Of the samples analyzed, 33 (approximately 60%) contained abnormal lithium, tantalum, tin or cesium.
Maximum values included 3.62% lithium, 335 ppm tantalum, 208 ppm tin and 0.54% cesium from an exposed siliceous lepidolite.
Another weathered pegmatite sample located 460 m to the south returned 1.32% lithium showing consistency with previous sampling.
Mapping and sampling of pegmatites is intensified in under-cultivated areas and auger drilling is being undertaken on the most promising soil-covered corridors.
MM1 is preparing for reverse circulation (RC) drill sites at approximately 8 km intervals along the strike of the Kawana East pegmatite belt.
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Shares of this $18 million market cap goldie are in freefall this morning.
AWV’s historic Big Springs project in Nevada produced approximately 386,000 oz between 1987 and 1993, when mining ceased due to the gold price environment.
In 2014, a JORC resource of 1 Moz was established, which included a high-grade component of 415,000 oz (4 g/t ore grade). AWV thinks there’s a lot more to be found here.
Results from recent IP drilling have confirmed that portions of the Big Springs gold deposit are abnormally chargeable, providing a robust approach for ongoing exploration targeting.
“The IP data for the three lines is of excellent quality and shows strong chargeability anomalies associated with the Brien fault; one of two NE control structures delineating the core of the Big Springs deposit,” the company said.
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Copper Mountain is a dual-listed (ASX-TSX) copper producer whose flagship product is the 75% owned Copper Mountain mine in British Columbia, which currently produces approximately 45,000 t of copper equivalent per year – with production annual average which is expected to increase to approximately 63,500 tonnes of copper equivalent.
It is also advancing its development-stage Eva copper project in Queensland, which is expected to add more than 45,000 t of copper production per year.
In December 2021, a feasibility study update highlighted the project’s after-tax net present value (NPV) of $622 million, a 42% increase from the feasibility study. May 2020 which the company said was mainly due to rising metal prices.
Total initial development capital is estimated at approximately $836 million.
Detailed engineering is currently underway, a final investment decision is expected this year and commissioning is scheduled for the end of 2024.
NOW READ: Copper could be the best performing metal of 2022. Here are the producers and players hot on their heels
Drilling is underway at GED’s “VERY” high-grade copper-silver deposit at Khusib Springs in Namibia – a blind find discovered in the early 1990s by Goldfields.
The initial discovery entered production from 1995, closed in the early 2000s after producing approximately 300,000 t of ore at a very high grade of 10% copper and 584 g/t silver.
Four shallow diamond drill holes will test shallow targets beneath surface copper mineralization above the mined area of the deposit as well as a key target for a repeat of the high-grade copper-silver massive sulphide deposit along the northeast direction.
Three to five deeper diamond drill holes will then test the extension of the ultra-high grade Khusib Springs copper-silver deposit at depth south of a normal/key fault which is interpreted to have offset the mineralized zone.
GED CEO Jon Dugdale said the company will conduct a deep penetrating electromagnetism program to detect further indiscriminate massive sulphide zones along the strike and will seek to test drill during the ongoing program. .
“Finding extensions or repeating this very high-grade copper-silver deposit would be a major breakthrough and provide a stepping stone to restore production from the existing decline at the Khusib Springs mine.”