Connect with us

Companies

Gold Digger: The top gold stories on the ASX this week

Gold ($US1960/oz), silver ($US23.60/oz) nosedive from recent highs All top 15 stocks by market capitalisation suffered single digit or low … Read More
The…

Share this article:

Published

on

This article was originally published by Stockhead
  • Gold ($US1960/oz), silver ($US23.60/oz) nosedive from recent highs
  • All top 15 stocks by market capitalisation suffered single digit or low double digit losses this week
  • Top ASX Gold Stories This Week: Loss Cerros, Golden Mile, WIA Gold

 

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

The gold price nosedived this week to US$1960 – its lowest in two months — on a strengthening US dollar, improved risk sentiment, and increasing chances of another Fed rate hike in June.

Since testing record highs two weeks ago gold is down over US$100/oz. It is still up 12.66% over the past 6 months.

The damage is slightly softened in Aussie dollar terms, with prices falling from $3055/oz to $2960/oz over the same period.

So much for a breakout with legs. This is the third time since 2020 gold has sold off violently from its highs of ~US$2050-80/oz, although we have some way to go to match the precipitous falls of 2020 and 2022.

 

­­

 

How did Aussie Gold Stocks fare this week?

Badly, as you might expect.

Miners/ large project developers suffered single digit or low double digit losses, with the worst affected being Adriatic Metals (ASX:ADT), AngloGold Ashanti (ASX:AGG) and St Barbs (ASX:SBM), down 13%, 11% and 14% respectively.

No need to worry yet, though – most larger stocks are still up handsomely year-to-date.

 

Winners & Losers

Here’s how ASX-listed precious metals stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list? Email [email protected]

CODE COMPANY 1 WEEK RETURN % YTD RETURN % 12 MONTH RETURN % PRICE MARKET CAP
ENR Encounter Resources 38% 61% 107% 0.29 $95,991,961
RMX Red Mount Min Ltd 33% -20% -50% 0.004 $9,087,404
LYN Lycaonresources 33% -35% -55% 0.18 $6,089,969
MLS Metals Australia 29% 1% -61% 0.045 $24,281,448
MHC Manhattan Corp Ltd 22% 0% -50% 0.0055 $16,149,533
MEI Meteoric Resources 21% 301% 1418% 0.2125 $335,000,575
TMX Terrain Minerals 20% 0% -40% 0.006 $6,499,196
CLA Celsius Resource Ltd 20% 50% 20% 0.024 $50,854,188
IDA Indiana Resources 20% -11% -18% 0.049 $24,804,036
BMO Bastion Minerals 19% -6% -78% 0.032 $5,260,582
FAU First Au Ltd 17% -13% -71% 0.0035 $4,355,980
KAL Kalgoorliegoldmining 17% -49% -66% 0.042 $2,945,799
SBR Sabre Resources 16% -33% -36% 0.0255 $6,704,182
M24 Mamba Exploration 16% -24% 0% 0.11 $6,708,167
LCL Los Cerros Limited 16% -35% -45% 0.037 $31,772,178
ALY Alchemy Resource Ltd 16% -20% -29% 0.0185 $21,205,373
PXX Polarx Limited 15% -25% -6% 0.015 $18,941,257
PRS Prospech Limited 15% 45% -17% 0.039 $8,512,832
NSM Northstaw 14% -23% -48% 0.12 $13,213,970
TLM Talisman Mining 14% 43% 29% 0.2 $40,363,992
DLI Delta Lithium 14% 37% 33% 0.65 $257,024,869
ZNC Zenith Minerals Ltd 14% -38% -53% 0.165 $58,031,497
RDS Redstone Resources 13% 13% 13% 0.009 $7,459,906
MDI Middle Island Res 11% 8% -70% 0.041 $5,019,147
KSN Kingston Resources 11% 30% -30% 0.105 $43,643,634
NWM Norwest Minerals 10% -41% -29% 0.032 $7,421,136
CBY Canterbury Resources 10% -17% -43% 0.034 $4,913,800
DTM Dart Mining NL 9% 5% -27% 0.058 $9,303,510
XAM Xanadu Mines Ltd 9% 72% 92% 0.05 $83,529,034
AAR Astral Resources NL 9% 6% -7% 0.076 $54,620,588
AAJ Aruma Resources Ltd 9% 43% -11% 0.076 $11,772,113
IPT Impact Minerals 8% 100% 33% 0.014 $36,981,151
TAR Taruga Minerals 7% -38% -35% 0.015 $10,590,402
GSM Golden State Mining 7% -28% -52% 0.031 $3,744,455
TSO Tesoro Gold Ltd 7% 10% -42% 0.0395 $40,037,278
MBK Metal Bank Ltd 7% -6% -47% 0.032 $8,294,566
DRE Dreadnought Resources Ltd 6% -45% 44% 0.0575 $188,825,509
EMC Everest Metals Corp 6% 8% -39% 0.085 $10,872,381
MOH Moho Resources 6% -10% -47% 0.019 $3,945,582
PUR Pursuit Minerals 6% 19% 6% 0.019 $46,920,985
CWX Carawine Resources 5% 0% -29% 0.1 $19,681,747
KAU Kaiser Reef 5% 27% 20% 0.21 $31,755,002
CY5 Cygnus Metals Ltd 4% -36% 69% 0.245 $52,481,053
BGD Bartongoldholdings 4% 40% 30% 0.28 $24,173,267
KWR Kingwest Resources 4% -20% -81% 0.028 $8,170,078
SFM Santa Fe Minerals 3% -25% -40% 0.06 $4,369,127
NMR Native Mineral Res 3% -72% -82% 0.031 $3,724,301
GRL Godolphin Resources 3% -25% -48% 0.062 $7,338,906
TMS Tennant Minerals Ltd 3% 0% -16% 0.031 $23,542,436
IGO IGO Limited 3% 13% 35% 15.15 $11,252,999,701
LM8 Lunnonmetalslimited 3% 20% 17% 1.075 $113,197,312
AM7 Arcadia Minerals 3% -12% -20% 0.18 $8,405,621
KIN KIN Min NL 3% -43% -53% 0.037 $45,947,871
MXR Maximus Resources 3% -3% -47% 0.039 $12,762,231
MEG Megado Minerals Ltd 3% -11% -68% 0.04 $10,178,222
AQI Alicanto Min Ltd 3% -7% -51% 0.04 $19,992,462
TIE Tietto Minerals 2% -23% 26% 0.5425 $587,264,845
CST Castile Resources 2% 3% -50% 0.098 $22,496,926
HAV Havilah Resources 2% -17% -5% 0.275 $88,658,979
POL Polymetals Resources 2% 33% 210% 0.325 $31,584,375
BNR Bulletin Res Ltd 1% -26% -62% 0.069 $19,964,195
BNZ Benzmining 1% -16% -43% 0.345 $28,244,214
ADN Andromeda Metals Ltd 1% -17% -63% 0.0365 $108,850,295
ANX Anax Metals Ltd 1% 38% -17% 0.073 $29,067,033
DCN Dacian Gold Ltd 1% -15% -55% 0.085 $102,211,279
GMD Genesis Minerals 1% -1% -10% 1.2325 $587,382,921
AZS Azure Minerals 1% 124% 84% 0.505 $181,459,773
SMI Santana Minerals Ltd 1% -4% -31% 0.63 $107,618,111
NVA Nova Minerals Ltd 1% -51% -48% 0.335 $71,702,524
SLR Silver Lake Resource 0% -10% -28% 1.065 $999,475,158
NPM Newpeak Metals 0% 0% 0% 0.001 $9,145,132
FFX Firefinch Ltd 0% 0% -39% 0.2 $236,569,315
GED Golden Deeps 0% -22% -59% 0.007 $8,086,587
AQX Alice Queen Ltd 0% -50% -80% 0.001 $2,530,288
SLZ Sultan Resources Ltd 0% -56% -74% 0.037 $3,821,522
PNX PNX Metals Limited 0% -29% -20% 0.003 $16,141,874
PUA Peak Minerals Ltd 0% -33% -71% 0.004 $4,165,506
MVL Marvel Gold Limited 0% -58% -73% 0.011 $9,497,705
AAU Antilles Gold Ltd 0% 17% -44% 0.035 $19,731,876
SRN Surefire Rescs NL 0% 58% -42% 0.019 $30,045,906
WA8 Warriedarresourltd 0% -21% 4% 0.135 $58,192,940
AVM Advance Metals Ltd 0% -20% -33% 0.008 $4,074,308
WRM White Rock Min Ltd 0% -5% -50% 0.063 $17,508,200
ASR Asra Minerals Ltd 0% -50% -72% 0.01 $13,204,068
CTO Citigold Corp Ltd 0% -17% -17% 0.005 $15,805,125
TRY Troy Resources Ltd 0% 0% 0% 0.0295 $62,920,961
CGN Crater Gold Min Ltd 0% 0% 0% 0.014499 $17,965,037
SVG Savannah Goldfields 0% -21% -25% 0.15 $28,398,024
GUL Gullewa Limited 0% -8% -26% 0.055 $10,767,521
ADV Ardiden Ltd 0% 0% -42% 0.007 $18,818,347
NAE New Age Exploration 0% -29% -58% 0.005 $7,179,495
VKA Viking Mines Ltd 0% -10% 13% 0.009 $9,227,326
MTH Mithril Resources 0% -14% -57% 0.003 $10,106,413
FG1 Flynngold 0% -24% -47% 0.076 $8,127,009
RML Resolution Minerals 0% -50% -69% 0.004 $6,286,459
AL8 Alderan Resource Ltd 0% 0% -68% 0.007 $4,316,863
GMN Gold Mountain Ltd 0% -57% -50% 0.003 $5,909,798
TBA Tombola Gold Ltd 0% 0% -57% 0.026 $33,129,243
BM8 Battery Age Minerals 0% -23% -23% 0.385 $25,976,357
FML Focus Minerals Ltd 0% -25% 0% 0.19 $58,744,522
ARV Artemis Resources 0% -48% -67% 0.013 $18,737,020
HRN Horizon Gold Ltd 0% 21% 9% 0.375 $46,943,115
RDN Raiden Resources Ltd 0% -37% -74% 0.003 $5,563,747
MKR Manuka Resources. 0% -27% -73% 0.062 $35,156,554
EMU EMU NL 0% -49% -78% 0.0025 $3,625,053
X64 Ten Sixty Four Ltd 0% -11% -27% 0.57 $130,184,182
SI6 SI6 Metals Limited 0% -17% -44% 0.005 $7,476,973
HAW Hawthorn Resources 0% -39% -44% 0.07 $23,451,093
AGC AGC Ltd 0% -7% -36% 0.056 $5,600,000
RVR Red River Resources 0% 0% -59% 0.073 $37,847,908
AUT Auteco Minerals 0% -24% -29% 0.039 $83,262,107
TMZ Thomson Res Ltd 0% -74% -84% 0.005 $4,349,755
WMC Wiluna Mining Corp 0% 0% -58% 0.205 $74,238,031
GSN Great Southern 0% -28% -48% 0.021 $13,867,140
THR Thor Energy PLC 0% -17% -64% 0.005 $6,631,258
OBM Ora Banda Mining Ltd 0% 79% 355% 0.15 $257,782,436
AVW Avira Resources Ltd 0% 0% -40% 0.003 $6,401,370
CEL Challenger Exp Ltd 0% -3% -39% 0.17 $188,130,223
S2R S2 Resources 0% -21% -16% 0.135 $55,362,355
PKO Peako Limited 0% -38% -55% 0.009 $4,236,583
OAU Ora Gold Limited 0% -40% -60% 0.003 $11,810,775
GNM Great Northern 0% -50% -60% 0.002 $4,052,627
TRM Truscott Mining Corp 0% 7% -19% 0.044 $7,354,911
DEX Duke Exploration 0% 0% -54% 0.053 $5,587,240
MOM Moab Minerals Ltd 0% 0% -67% 0.009 $5,455,708
PNM Pacific Nickel Mines 0% 2% 6% 0.085 $34,390,944
AYM Australia United Min 0% 0% -57% 0.003 $5,527,732
ANL Amani Gold Ltd 0% 0% -33% 0.001 $25,143,441
MI6 Minerals260Limited 0% 38% 9% 0.47 $112,320,000
CLZ Classic Min Ltd 0% -89% -99% 0.001 $5,761,929
AZY Antipa Minerals Ltd 0% -19% -60% 0.017 $50,342,697
SXG Southern Cross Gold -1% -33% 168% 0.535 $47,628,961
MM8 Medallion Metals. -1% -38% -59% 0.096 $20,526,294
EMR Emerald Res NL -1% 62% 74% 1.915 $1,152,043,718
SVL Silver Mines Limited -1% 4% 12% 0.2075 $287,888,089
GBR Greatbould Resources -1% -12% -20% 0.08 $40,340,560
RMS Ramelius Resources -1% 51% 11% 1.405 $1,328,050,715
MTC Metalstech Ltd -1% -33% -3% 0.35 $62,152,857
MRZ Mont Royal Resources -2% -50% -73% 0.088 $6,026,475
M2R Miramar -2% -45% -66% 0.044 $3,456,415
CMM Capricorn Metals -3% -11% 16% 4.11 $1,575,264,753
BGL Bellevue Gold Ltd -3% 12% 51% 1.26 $1,423,850,059
CAI Calidus Resources -3% -33% -80% 0.18 $96,139,368
GWR GWR Group Ltd -3% 19% -44% 0.07 $21,842,733
HMX Hammer Metals Ltd -3% 3% 3% 0.07 $56,677,107
KCC Kincora Copper -3% -4% -8% 0.07 $8,228,958
BRB Breaker Res NL -3% 55% 98% 0.495 $166,448,454
BCN Beacon Minerals -3% 11% 0% 0.031 $116,459,813
SSR SSR Mining Inc. -3% 3% -14% 23.82 $430,128,347
G50 Gold50Limited -3% -40% -25% 0.15 $8,541,450
RND Rand Mining Ltd -3% -14% -22% 1.17 $66,544,874
HCH Hot Chili Ltd -3% 14% -17% 1 $117,653,528
TBR Tribune Res Ltd -3% -15% -18% 3.42 $178,391,462
BMR Ballymore Resources -3% -7% -33% 0.14 $13,484,444
KZR Kalamazoo Resources -3% -33% -57% 0.14 $21,336,889
A8G Australasian Metals -3% -26% -62% 0.14 $7,296,869
PRU Perseus Mining Ltd -4% -4% 17% 2.035 $2,790,693,174
CAZ Cazaly Resources -4% -24% -28% 0.026 $9,667,367
YRL Yandal Resources -4% -23% -61% 0.075 $11,835,231
GBZ GBM Rsources Ltd -4% -42% -75% 0.025 $16,014,984
EVN Evolution Mining Ltd -4% 25% 9% 3.73 $6,936,361,686
SKY SKY Metals Ltd -4% 2% -41% 0.049 $20,723,091
PNR Pantoro Limited -4% -24% -73% 0.073 $230,190,363
NST Northern Star -4% 22% 55% 13.325 $15,470,252,731
SAU Southern Gold -4% -8% -47% 0.023 $6,906,561
ICG Inca Minerals Ltd -4% 0% -73% 0.023 $13,054,891
TUL Tulla Resources -4% 1% -41% 0.34 $111,022,381
MGV Musgrave Minerals -4% 5% -17% 0.22 $130,065,749
LEX Lefroy Exploration -4% -17% -26% 0.215 $35,300,760
VRC Volt Resources Ltd -5% -30% -50% 0.0105 $39,394,239
RED Red 5 Limited -5% -23% -56% 0.1575 $536,219,924
FEG Far East Gold -5% -35% -22% 0.31 $50,505,909
RRL Regis Resources -5% 0% 9% 2.05 $1,570,453,924
SNG Siren Gold -5% -45% -72% 0.1 $14,432,822
STK Strickland Metals -5% -3% -47% 0.039 $65,179,796
TTM Titan Minerals -5% -15% -21% 0.057 $80,442,572
GSR Greenstone Resources -5% -41% -55% 0.019 $23,052,100
KRM Kingsrose Mining Ltd -5% -12% -10% 0.057 $42,141,485
ASO Aston Minerals Ltd -5% 13% -38% 0.09 $101,440,515
VMC Venus Metals Cor Ltd -5% 33% 3% 0.18 $32,621,163
MAU Magnetic Resources -5% -38% -63% 0.53 $118,080,944
CHN Chalice Mining Ltd -5% 16% 26% 7.325 $2,829,645,610
BYH Bryah Resources Ltd -6% -34% -63% 0.017 $5,062,563
MEK Meeka Metals Limited -6% -50% -28% 0.034 $36,298,704
ERM Emmerson Resources -6% -11% -29% 0.067 $37,584,975
TCG Turaco Gold Limited -6% -14% -43% 0.05 $20,958,117
TAM Tanami Gold NL -6% -18% -40% 0.032 $37,603,105
GOR Gold Road Res Ltd -6% 6% 40% 1.7975 $1,968,119,039
CHZ Chesser Resources -6% 38% 24% 0.1175 $70,632,162
GMR Golden Rim Resources -6% 0% -56% 0.031 $18,930,828
AME Alto Metals Limited -6% -9% -27% 0.061 $37,381,744
MRR Minrex Resources Ltd -6% -53% -74% 0.015 $16,815,446
REZ Resourc & En Grp Ltd -6% -6% -64% 0.015 $7,497,087
CDT Castle Minerals -6% -29% -64% 0.015 $16,867,395
NCM Newcrest Mining -6% 31% 9% 27.06 $24,600,287,437
WWI West Wits Mining Ltd -7% -13% -44% 0.014 $33,645,259
ZAG Zuleika Gold Ltd -7% -33% -56% 0.014 $7,322,709
BTR Brightstar Resources -7% -18% -39% 0.014 $11,656,804
RSG Resolute Mining -7% 126% 66% 0.4525 $979,343,022
PGD Peregrine Gold -7% -11% -33% 0.345 $19,355,401
IVR Investigator Res Ltd -7% 24% 2% 0.052 $74,732,841
QML Qmines Limited -7% -21% -45% 0.13 $20,753,874
HXG Hexagon Energy -7% -24% -52% 0.013 $6,667,907
ARN Aldoro Resources -7% -19% -46% 0.13 $17,475,087
STN Saturn Metals -7% 6% -49% 0.19 $30,595,815
A1G African Gold Ltd. -8% -12% -37% 0.073 $12,359,718
AUC Ausgold Limited -8% 2% -13% 0.048 $115,402,762
LRL Labyrinth Resources -8% -29% -56% 0.012 $12,473,335
GCY Gascoyne Res Ltd -8% -28% -42% 0.12 $105,241,573
WGX Westgold Resources. -8% 71% 11% 1.495 $722,274,663
FAL Falconmetalsltd -8% 15% 15% 0.3225 $55,755,000
TGM Theta Gold Mines Ltd -8% 3% -36% 0.07 $43,620,635
NML Navarre Minerals Ltd -8% -44% -72% 0.023 $34,567,370
PGO Pacgold -8% -6% -45% 0.34 $18,687,017
GML Gateway Mining -8% -25% -55% 0.045 $11,985,009
SPQ Superior Resources -8% -41% 10% 0.033 $57,841,494
WAF West African Res Ltd -8% -24% -27% 0.8925 $951,927,305
PDI Predictive Disc Ltd -9% -11% -20% 0.16 $287,616,569
GIB Gibb River Diamonds -9% -30% -22% 0.042 $8,248,868
DEG De Grey Mining -9% 6% 30% 1.36 $2,162,216,177
ALK Alkane Resources Ltd -9% 50% -19% 0.8 $476,040,111
KAI Kairos Minerals Ltd -9% -13% -26% 0.02 $41,245,963
SPD Southernpalladium -9% -44% 0% 0.45 $20,677,597
ORN Orion Minerals Ltd -9% 25% -13% 0.02 $109,315,216
KCN Kingsgate Consolid. -9% -25% -12% 1.29 $331,210,924
NAG Nagambie Resources -9% -41% -22% 0.039 $23,269,053
SFR Sandfire Resources -9% 8% 12% 5.895 $2,723,075,891
PNT Panthermetalsltd -9% -59% -64% 0.077 $4,769,700
ARL Ardea Resources Ltd -10% -48% -69% 0.37 $63,456,026
PRX Prodigy Gold NL -10% -25% -56% 0.009 $15,759,970
ADG Adelong Gold Limited -10% 29% -70% 0.009 $5,338,223
XTC Xantippe Res Ltd -10% -10% -59% 0.0045 $47,610,449
AWJ Auric Mining -10% -30% -44% 0.045 $5,888,682
MEU Marmota Limited -11% -29% -42% 0.034 $35,999,220
RGL Riversgold -11% -43% -67% 0.017 $16,072,951
AGG AngloGold Ashanti -11% 23% 44% 7.21 $651,216,685
ICL Iceni Gold -11% -24% -53% 0.061 $12,722,857
GTR Gti Energy Ltd -11% -26% -52% 0.008 $14,837,834
WCN White Cliff Min Ltd -11% -43% -60% 0.008 $7,672,435
SVY Stavely Minerals Ltd -11% -51% -66% 0.12 $39,152,846
GAL Galileo Mining Ltd -12% -19% -23% 0.715 $142,289,947
DTR Dateline Resources -12% -59% -88% 0.015 $11,262,294
BBX BBX Minerals Ltd -12% -36% -26% 0.067 $39,138,887
MZZ Matador Mining Ltd -12% -42% -68% 0.067 $21,750,100
EM2 Eagle Mountain -12% -35% -69% 0.11 $33,546,355
USL Unico Silver Limited -13% -18% -20% 0.14 $41,527,160
CPM Coopermetalslimited -13% 24% -32% 0.2925 $12,998,679
RXL Rox Resources -13% 94% 1% 0.34 $77,402,220
MKG Mako Gold -13% -33% -65% 0.027 $15,729,573
ADT Adriatic Metals -13% 2% 42% 3.22 $726,936,554
BC8 Black Cat Syndicate -13% 10% -14% 0.39 $106,625,781
NXM Nexus Minerals Ltd -13% -58% -73% 0.084 $27,338,078
HRZ Horizon -13% -26% -57% 0.045 $32,061,249
OZM Ozaurum Resources -14% -24% -76% 0.05 $6,350,000
G88 Golden Mile Res Ltd -14% -11% -67% 0.018 $5,005,213
CDR Codrus Minerals Ltd -14% 15% 67% 0.15 $6,266,650
CXU Cauldron Energy Ltd -14% -14% -59% 0.006 $5,589,412
SBM St Barbara Limited -14% -25% -51% 0.5775 $489,924,987
AMI Aurelia Metals Ltd -15% -8% -67% 0.115 $148,492,466
BEZ Besragoldinc -15% 448% 478% 0.285 $102,619,948
KNB Koonenberrygold -16% -32% -58% 0.042 $3,181,771
TMB Tambourahmetals -16% -16% -60% 0.088 $3,789,719
DCX Discovex Res Ltd -17% -17% -63% 0.0025 $8,256,420
TG1 Techgen Metals Ltd -17% -15% -54% 0.07 $4,501,779
KTA Krakatoa Resources -17% -43% -70% 0.025 $9,811,168
LCY Legacy Iron Ore -18% -26% -42% 0.014 $89,695,567
CYL Catalyst Metals -18% -33% -52% 0.79 $133,633,890
MAT Matsa Resources -19% 3% -36% 0.038 $17,716,317
OKR Okapi Resources -19% -30% -55% 0.105 $20,359,462
SIH Sihayo Gold Limited -20% 0% -50% 0.002 $12,204,256
NES Nelson Resources. -20% -43% -71% 0.004 $2,942,972
SMS Starmineralslimited -20% -24% -74% 0.055 $1,657,799
HMG Hamelingoldlimited -23% -21% -18% 0.115 $15,812,500
BAT Battery Minerals Ltd -25% -25% -67% 0.003 $13,427,769
MCT Metalicity Limited -50% -67% -80% 0.001 $5,256,809

 

Top ASX Stories This Week

 

LOS CERROS (ASX:LCL)

LCL pulled up an incredible 52m grading 3.65g/t gold from 160m in maiden drilling at Kusi, part of the Ono project in Papua New Guinea.

Drill results received thus far have exceeded grade expectations, says the company, which is only five holes into an 18-hole, 3000m program.

That hit included a couple of high grade chunks: 6.68m @ 10.91g/t from 171.75m, and 7.5m @ 14.87g/t from 191.7m.

Assays are pending for hole 5, which intersected the widest zone of upper limestone skarn thus far, including visible gold and chalcopyrite, 165m away from of the above drill hole.

In (and around) the upper limestone skarn is where the good stuff is:

 

Section view of Los Cerros’ drill holes 1, 3 and 5 at Kusi.

 

The hits are getting better to the north, the company says.

The advanced South American gold stock recently diversified into PNG as it waits for “greater clarity on new government mine development policies” in Colombia.

 

GOLDEN MILE RESOURCES (ASX:G88)

The junior explorer uncovered three “exciting untested high priority gold targets” for drilling at the Yuinmery project in WA’s Murchison region.

Yuinmery Trend, Happy Camper and Pirates Patch join the Elephant Reef, Ladies Patch and Hammerhead gold prospects which were upgraded by shallow aircore drilling last year.

These targets are within a large ~5.8km long x 1.1km wide area of gold-in-soil enrichment, 12km from the high grade 3.2Moz Youanmi deposit being redeveloped by Rox Resources (ASX:RXL).

It is also down the road from Ramelius Resources’ (ASX:RMS) super high grade Penny West mine.

WIA GOLD (ASX:WIA)

WIA unveiled a monster 1.3Moz maiden resource for the Kokoseb gold deposit in Namibia, delivered just 11 months from the discovery drillhole.

The resource also contains a higher-grade portion of 15Mt at 1.5g/t gold for 720,000oz (at a cut-off grade of 1g/t).

At US$2/oz per ounce of contained gold, WIA says this is one of the lowest resource discovery costs by industry standards.

MinEx Consulting estimates that the average discovery cost for the global gold industry between 2009-2018 was US$62 per ounce of gold.

At the cheaper end of the spectrum is Predictive Discovery (ASX:PDI), which estimated a resource discovery cost of $4/oz (US$2.90/oz) at the tier 1 Bankan gold project, and De Grey (ASX:DEG), which estimated a resource discovery cost of $10/oz at Mallina in WA.

Kokoseb remains open with follow-up drilling already underway.

The post Gold Digger: The top gold stories on the ASX this week appeared first on Stockhead.





tsx-ssrm
ssr-mining-inc
ssr mining inc

Share this article:

Companies

Dolly Varden consolidates Big Bulk copper-gold porphyry by acquiring southern-portion claims – Richard Mills

2023.12.22
Dolly Varden Silver’s (TSXV:DV, OTCQX:DOLLF) stock price shot up 16 cents for a gain of 20% Thursday, after announcing a consolidation of…

Share this article:

Published

on

Continue Reading
Companies

GoldTalks: Going big on ASX-listed gold stocks

Aussie investors are spoiled for choice when it comes to listed goldies, says Kyle Rodda. Here are 3 blue chips … Read More
The post GoldTalks: Going…

Share this article:

Published

on

Continue Reading
Companies

Gold Digger: ‘Assured growth’ – central bank buying spree set to drive gold higher in 2024

Central banks will drive the price of gold higher in 2024, believe various analysts Spot gold prices seem stable to … Read More
The post Gold Digger:…

Share this article:

Published

on

Continue Reading

Trending