Top 5 Resources: IOCG Hunters, Nickel Finds, and a Copper-Gold Stockpile Starts
- Cohiba prepares deep hole on IOCG forward target “Horse Well”
- Copper and gold explorer Askari jumps out the door on his ASX debut
- Auroch connects to new nickel sulfide target in Nepean
Here are the biggest winners from small-cap resources at the start of the session on Wednesday, July 7.
In the same neighborhood as the potentially significant discovery of Coda Minerals (ASX: COD) and Torrens Mining (ASX: TRN) at ‘Elizabeth Creek’, the Cohiba housing complex in South Australia “needs to be aggressively explored” , the company said in late April.
While a recent drill program on the “Horse Well” project missed land, it confirmed that the company was drilling in the right area for a large IOCG discovery.
The explorer is now planning an additional deep hole at Horse Well, as well as drilling at ‘Pernatty C’.
While IOCG mineralization is a target in the area, Cohiba will primarily focus on shallower Zambian Copperbelt-style (ZCB) mineralization at Pernatty C.
The developer of the gold mine has closed the sale of a lithium royalty on its assets in Quebec, Canada for $ 6.65 million.
MetalsTech now has $ 6.8 million in cash in the bank and is funded for planned exploration and development at its flagship 1.5 million ounce “Sturec” mine.
A shareholder notice for the lithium asset split in Winsome Resources’ new IPO is expected to be finalized in the coming weeks.
The title is up 23% since the start of the year.
A major follow-up drilling program is planned on the ‘Abercromby’ gold project in WA, where BMG recently reached high and thick grades like 26m at 6.07g / t gold from 192m in a first program.
Impressive, but not as impressive as historical intersections like 57.5m at 5.73 g / t gold at 80m.
The emerging gold camp remains open in several directions, according to the company.
Despite this, the market cap of ~ $ 15 million BMG is down 40% since the start of the year.
Explorer jumped out the door on his ASX debut.
The $ 5.75 million raised during Askari’s IPO at 20 cents per share will be used to explore and develop a portfolio of copper and gold projects in WA and in the Lachlan Fold of NSW.
The initial target for a 2000m drill program is the ‘Burracoppin’ gold project in WA, where old drilling has reached 18m at 5.64 g / t gold. from the surface.
An electromagnetic (EM) survey identified a highly conductive “body” – typical of well-developed massive to semi-massive sulphide mineralization – 1.8 km south of the historic Nepean nickel mine.
EM surveys map changes in electrical conductivity below the surface and are useful tools for finding nickel sulphides.
This high priority drill target – estimated at a vertical depth of 60 to 100m with an extension length of 120m – “will be tested immediately” with three drill holes ranging from 150 to 250m deep, Auroch said. .
The stock’s $ 53 million market cap is up 27% in 2021.