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Sari gold hits highlight potential for Oklo to grow Mali inventory

Special Report: Oklo’s follow-up drilling has confirmed and extended the Sari gold discovery just 10km from its 670,000oz Seko resource … Read More
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This article was originally published by Stockhead

Oklo’s follow-up drilling has confirmed and extended the Sari gold discovery just 10km from its 670,000oz Seko resource in Mali.

Mineralisation is now proven to extend into the fresh rock below the discovery hole with hits such as 7m grading 2.64 grams per tonne (g/t) from 42m including 2m at 8.1g/t gold and 11m at 1.02g/t gold from 65m.

In addition, near surface gold mineralisation has been intersected along strike with notable results such as 3m at 6.8g/t gold from 6m, 18m at 1.18g/t gold from 45m including 3m at 2.46g/t gold, and 12m at 1.08g/t gold from 30m that ended in mineralisation.

Oklo Resources (ASX:OKU) notes that all intersections are at the northern end of a 2.4km auger gold-arsenic geochemical anomaly along the western margin of a prominent radiometric feature that has been interpreted as an intrusive.

There’s further potential to grow the company’s Mali gold inventory given that a comparable untested target extending over 6km located to the east of the interpreted intrusion within the company’s Kossaya project will be tested by drilling in the near term.

“We are delighted to report further success from this emerging target at Sari. The latest results are from 100m spaced step-out drill traverses to the north and south of the initial discovery hole announced in May 2021 that returned 24m at 1.97g/t gold from 12m,” managing director Simon Taylor.

“Additionally we have confirmed depth continuation below the discovery hole and as such Sari remains very much open in all directions.

“Importantly, Sari is located within 10km of Seko so it is within reasonable trucking distance of the 0.67 million ounce mineral resource and as such, will form an important part of our current resource growth initiative.

“The results also highlight the prospectivity of our 500sqkm landholding in west Mali where our main focus continues to be on unlocking additional growth opportunities within Dandoko and other regional targets.”

Sari drill intersection. Pic: Supplied

Sari drilling

Oklo’s 1,988m of follow-up drilling at Sari is part of its aggressive resource growth initiative that was started after the initial Dandoko resource estimate was announced in late March 2021.

The bulk of this drilling targeted immediate extensions along strike and at depth of Seko, and other geochemical and geophysical targets (induced polarisation) along the 15km Dandoko gold corridor and adjoining project areas including Sari.

Drilling at Sari included two traverses of aircore holes that successfully intersected gold mineralisation at shallow depths and confirmed a north-south trend to the gold mineralisation.

Meanwhile, the depth extension was confirmed by an RC hole that was drilled below the discovery hole.

Adding further interest, previous mineralised intervals scanned using portable XRF demonstrated elevated arsenic and sulphur levels as well as moderate nickel, copper and lead levels, a geochemical signature that is a feature of gold mineralisation at the Seko SK1N deposit.

 


 

 

This article was developed in collaboration with Oklo Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Sari gold hits highlight potential for Oklo to grow Mali inventory appeared first on Stockhead.

Articles

Gold Digger: Where do we go from here?

It’s been a frustrating few months for gold bulls. As an investment hedge, gold shines during periods of poor or … Read More
The post Gold Digger:…

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It’s been a frustrating few months for gold bulls.

As an investment hedge, gold shines during periods of poor or volatile market sentiment. It loves drama like pandemics, civil wars, or the unprecedented failure of the Lehman Brothers in 2008.

Fun fact.

Now, the unwinding of economic support measures by central banks as global markets recover are dimming gold’s status as a ‘safe haven’.

After punching though that psychologically important $US1,800/oz mark recently, gold was down nearly 3% on Thursday as strong US retail sales data boosted the dollar.

Gold also often falls when the value of the USD goes up relative to other currencies worldwide.

Retail sales in the US unexpectedly rose 0.7% month-on-month in August — handily beating market forecasts of a 0.8% drop — giving ammo to those experts saying the Federal Reserve may hasten the unwinding of economic support and boost rates to help control inflationary pressures.

The strong retail sales figures show “consumer sentiment is starting to come back, a good indicator for the Fed to bring in those expectations on the next rate hike,” said Phillip Streible, chief market strategist at Blue Line Futures told Reuters.

An expected interest rates hike in the medium term could also translate to increased ‘opportunity cost’ of holding non-yielding assets like bullion.

Opportunity cost would be the potential losses suffered by not investing in something more appetising, like uranium stocks.

The next key moment for gold will be the Federal Reserve’s September 21-22 policy meeting.

So, what’s next? Opinions on the outlook vary widely.

“There are a lot of members in the FOMC in favour of commencing tapering this year, and therefore the outlook for gold is not positive,” said Quantitative Commodity Research analyst Peter Fertig.

Meanwhile, Metals Focus believes that despite growing expectations of monetary tapering in the US/Europe, “rate hikes may not occur as early as some anticipate, which should benefit non-yielding assets such as gold”.

“As nominal yields remain low and real yields negative, a lack of meaningful returns on key reserves currencies should favour gold’s role as an effective portfolio diversifier,” it says.

Also of importance will be geopolitical factors, Metals Focus says.

“Since President Biden’s inauguration, tensions between the US and its geopolitical rivals have shown little sign of easing.

“Going forward, for some countries a desire to cut exposure to dollar-denominated assets will continue to justify a rotation into gold.”

USD gold price over the past 2 years.

 

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

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

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
TSC Twenty Seven Co. Ltd 86 117 8 -19 0.0065 $ 21,286,511.24
KWR Kingwest Resources 64 69 -11 -29 0.12 $ 26,034,648.88
GTR Gti Resources 63 150 93 63 0.0425 $ 37,420,679.26
DLC Delecta Limited 56 133 133 100 0.014 $ 15,129,318.08
NPM Newpeak Metals 50 -25 -25 -57 0.0015 $ 13,654,870.31
THR Thor Mining PLC 50 50 50 62 0.021 $ 10,431,803.74
NXM Nexus Minerals Ltd 47 175 247 329 0.33 $ 85,453,084.85
MTC Metalstech Ltd 45 91 147 95 0.42 $ 65,851,219.77
REZ Resourc & En Grp Ltd 44 70 18 109 0.046 $ 19,857,316.29
XAM Xanadu Mines Ltd 38 16 -32 -22 0.036 $ 44,066,321.25
M24 Mamba Exploration 33 13 -19 0.22 $ 7,400,000.00
XTC Xantippe Res Ltd 33 0 0 -50 0.002 $ 8,149,128.80
SBR Sabre Resources 33 33 50 -48 0.006 $ 10,098,381.89
A8G Australasian Gold 33 181 0.38 $ 8,739,884.66
A8G Australasian Gold 33 181 0.38 $ 8,739,884.66
ICG Inca Minerals Ltd 27 43 33 139 0.14 $ 66,107,311.88
AM7 Arcadia Minerals 26 26 0.265 $ 9,063,000.00
TIN Tnt Mines Limited 26 64 64 42 0.27 $ 33,013,262.98
KCN Kingsgate Consolid. 25 21 5 -18 0.9 $ 189,228,987.32
LNY Laneway Res Ltd 25 0 0 -38 0.005 $ 19,520,329.67
MHC Manhattan Corp Ltd 25 36 -17 -70 0.015 $ 21,367,901.70
PDI Predictive Disc Ltd 24 2 101 93 0.1425 $ 195,969,001.19
MBK Metal Bank Ltd 22 38 10 10 0.011 $ 11,890,683.04
DCX Discovex Res Ltd 20 20 -14 -14 0.006 $ 15,411,984.46
NAE New Age Exploration 20 0 -14 33 0.012 $ 17,230,786.92
TNR Torian Resources Ltd 20 50 -40 112 0.036 $ 29,559,163.17
MEU Marmota Limited 19 11 11 -4 0.05 $ 49,395,218.19
GSM Golden State Mining 17 4 -10 -42 0.14 $ 11,171,028.33
BRB Breaker Res NL 16 33 46 19 0.285 $ 102,639,892.64
PRX Prodigy Gold NL 16 5 8 -38 0.043 $ 25,547,614.66
GIB Gibb River Diamonds 16 36 -17 53 0.072 $ 15,228,680.04
PF1 Pathfinder Resources 15 11 51 0.34 $ 16,465,759.20
BBX BBX Minerals Ltd 13 0 -19 -39 0.215 $ 96,184,509.75
CEL Challenger Exp Ltd 13 17 0 44 0.31 $ 306,007,933.77
IDA Indiana Resources 13 5 -15 24 0.063 $ 26,935,711.52
STK Strickland Metals 13 18 110 -14 0.045 $ 50,789,751.19
IPT Impact Minerals 12 8 -46 -44 0.014 $ 30,356,923.79
AGC AGC Ltd 12 -3 -18 0.14 $ 8,127,274.08
AGC AGC Ltd 12 -3 -18 0.14 $ 8,127,274.08
BYH Bryah Resources Ltd 12 -2 0 6 0.056 $ 11,891,187.45
BNR Bulletin Res Ltd 12 38 14 2 0.076 $ 13,267,687.48
PKO Peako Limited 12 4 12 -26 0.029 $ 9,253,623.03
SMI Santana Minerals Ltd 11 -12 -24 -48 0.11 $ 12,543,589.96
DRE Drednought Resources 11 -5 141 116 0.041 $ 109,446,209.12
AAR Anglo Australian 11 22 -2 -49 0.094 $ 53,656,131.51
ONX Orminexltd 11 -24 27 31 0.042 $ 23,559,464.53
PUR Pursuit Minerals 10 -17 -10 279 0.053 $ 50,598,751.46
GBZ GBM Rsources Ltd 10 0 5 -21 0.115 $ 52,417,116.84
SFM Santa Fe Minerals 9 13 -7 3 0.093 $ 6,772,147.38
CDR Codrus Minerals Ltd 9 3 0.175 $ 7,000,000.00
VRC Volt Resources Ltd 9 25 94 133 0.035 $ 92,672,200.43
PNM Pacific Nickel Mines 9 38 26 89 0.072 $ 15,472,442.59
HXG Hexagon Energy 9 9 -15 49 0.085 $ 37,465,161.47
FFX Firefinch Ltd 9 18 176 318 0.6475 $ 627,715,320.05
NSM Northstaw 8 -3 -26 0.32 $ 13,400,000.00
ADT Adriatic Metals 8 9 41 36 3.11 $ 572,687,790.70
AQI Alicanto Min Ltd 8 -7 13 -19 0.13 $ 44,397,107.24
SPQ Superior Resources 8 -7 0 44 0.013 $ 17,957,365.28
FAU First Au Ltd 8 8 -19 -28 0.013 $ 7,990,173.80
CAI Calidus Resources 8 22 27 4 0.59 $ 239,957,008.20
CLA Celsius Resource Ltd 7 4 -37 -22 0.029 $ 30,369,614.35
M2R Miramar 7 1 -8 0.1925 $ 9,206,928.90
WGX Westgold Resources. 7 -3 -18 -31 1.705 $ 757,073,788.59
CHN Chalice Mining Ltd 7 18 71 360 7.56 $ 2,770,564,713.00
MKG Mako Gold 7 12 -4 -42 0.096 $ 37,077,435.39
MOH Moho Resources 7 0 -24 -42 0.064 $ 6,816,176.53
OAU Ora Gold Limited 6 -19 -26 -32 0.017 $ 15,157,714.00
VMC Venus Metals Cor Ltd 6 0 0 -31 0.18 $ 26,438,769.53
TAR Taruga Minerals 6 -2 17 -20 0.055 $ 28,163,300.33
TAM Tanami Gold NL 6 -1 -10 12 0.075 $ 88,132,278.45
E2M E2 Metals 6 -5 -15 50 0.285 $ 42,884,295.71
SLR Silver Lake Resource 5 2 -16 -46 1.35 $ 1,239,455,712.60
ARL Ardea Resources Ltd 5 -4 -8 -9 0.485 $ 67,636,767.31
MCT Metalicity Limited 5 0 -33 -60 0.01 $ 21,437,715.32
CXU Cauldron Energy Ltd 5 33 5 0 0.04 $ 21,616,919.72
AQX Alice Queen Ltd 5 -25 -61 -72 0.0105 $ 15,072,453.11
OBM Ora Banda Mining Ltd 5 -13 -61 -72 0.105 $ 107,110,795.55
TIE Tietto Minerals 5 -4 -10 -45 0.33 $ 152,822,127.76
ANX Anax Metals Ltd 5 26 53 350 0.11 $ 38,520,227.90
SKY SKY Metals Ltd 5 1 -43 -32 0.092 $ 28,602,902.58
LM8 Lunnonmetalslimited 5 -12 0.575 $ 44,045,089.70
ICL Iceni Gold 5 15 0.23 $ 28,148,298.36
MRZ Mont Royal Resources 4 42 37 39 0.355 $ 13,446,233.83
GUL Gullewa Limited 4 8 27 13 0.095 $ 17,514,325.20
FFR Firefly Resources 4 2 -8 -23 0.12 $ 37,000,743.60
DTM Dart Mining NL 4 9 -27 -40 0.12 $ 10,994,002.36
TCG Turaco Gold Limited 4 -11 100 50 0.12 $ 38,621,601.50
MAU Magnetic Resources 4 8 9 49 1.695 $ 361,077,125.95
FML Focus Minerals Ltd 4 -9 -20 -39 0.245 $ 44,773,398.43
KZR Kalamazoo Resources 4 -1 -20 -51 0.37 $ 52,393,159.26
PRU Perseus Mining Ltd 4 2 20 -4 1.48 $ 1,938,611,920.60
BMO Bastion Minerals 4 52 22 0.25 $ 15,225,378.90
SI6 SI6 Metals Limited 4 4 -34 -22 0.0125 $ 17,137,727.82
AOP Apollo Consolidated 4 0 7 12 0.38 $ 112,273,927.15
GOR Gold Road Res Ltd 4 8 11 -20 1.325 $ 1,233,828,034.60
MVL Marvel Gold Limited 4 -7 17 -11 0.055 $ 31,262,371.63
PRS Prospech Limited 4 -6 -38 0 0.084 $ 5,475,204.42
NVA Nova Minerals Ltd 4 27 -15 59 0.14 $ 243,737,263.82
CST Castile Resources 4 -7 4 -37 0.2175 $ 43,936,226.62
KAU Kaiser Reef 4 8 -38 -44 0.225 $ 24,031,879.65
BRV Big River Gold Ltd 3 -14 -23 -25 0.3 $ 65,832,735.60
AGS Alliance Resources 3 3 -16 -35 0.155 $ 32,242,655.77
SLZ Sultan Resources Ltd 3 -11 -14 -26 0.16 $ 11,125,502.24
EMU EMU NL 3 14 -43 7 0.032 $ 14,608,463.49
RND Rand Mining Ltd 3 -1 0 -29 1.5 $ 85,313,941.50
AMI Aurelia Metals Ltd 3 2 -12 -33 0.335 $ 438,359,988.14
WMC Wiluna Mining Corp 3 3 -5 -49 1.02 $ 164,639,575.36
CWX Carawine Resources 3 -11 -39 -9 0.2 $ 21,233,530.89
HWK Hawkstone Mng Ltd 3 -2 8 186 0.04 $ 68,650,443.88
DCN Dacian Gold Ltd 3 -15 -49 -40 0.205 $ 198,323,150.82
OKR Okapi Resources 2 52 247 205 0.625 $ 66,621,180.53
CAZ Cazaly Resources 2 -8 5 -12 0.046 $ 16,999,910.28
AAJ Aruma Resources Ltd 2 14 75 -29 0.096 $ 11,336,535.27
ENR Encounter Resources 2 53 58 88 0.245 $ 75,901,565.52
WWI West Wits Mining Ltd 2 -17 -50 61 0.05 $ 66,830,263.50
AXE Archer Materials 2 -38 59 187 1.65 $ 373,438,735.44
GBR Greatbould Resources 2 80 299 228 0.1475 $ 53,543,371.35
VAN Vango Mining Ltd 2 -2 -19 -36 0.064 $ 70,346,777.66
SAU Southern Gold 2 -2 -19 -54 0.065 $ 14,079,697.90
PAK Pacific American Hld 2 7 -12 -23 0.018 $ 5,734,528.20
NUS Nusantara Resources 1 4 30 9 0.35 $ 79,927,187.42
KTA Krakatoa Resources 1 37 8 -29 0.07 $ 19,450,854.52
SVL Silver Mines Limited 1 -8 -10 -12 0.2025 $ 250,292,605.09
SVY Stavely Minerals Ltd 1 2 -40 -22 0.435 $ 114,823,038.88
S2R S2 Resources 1 -29 -39 -62 0.1 $ 37,419,359.78
NST Northern Star 1 -3 -2 -39 9.17 $ 11,106,965,034.00
RMS Ramelius Resources 1 -8 -7 -43 1.42 $ 1,208,933,287.65
EMR Emerald Res NL 1 2 6 32 0.855 $ 458,703,514.23
EVN Evolution Mining Ltd 1 -3 -8 -39 3.8 $ 7,185,121,836.48
AWV Anova Metals Ltd 0 -12 -12 -29 0.022 $ 31,528,072.40
KCC Kincora Copper 0 -13 0.175 $ 13,624,349.38
TRY Troy Resources Ltd 0 -5 -50 -63 0.037 $ 30,073,993.35
CDT Castle Minerals 0 0 27 17 0.014 $ 10,255,011.45
AWJ Auric Mining 0 -4 -24 0.13 $ 5,810,999.61
BTR Brightstar Resources 0 -3 -42 4 0.028 $ 12,313,021.39
GMR Golden Rim Resources 0 -13 -13 -56 0.007 $ 18,692,447.75
AL8 Alderan Resource Ltd 0 -2 -32 -57 0.049 $ 16,760,805.50
G88 Golden Mile Res Ltd 0 -5 2 -8 0.054 $ 7,614,989.71
ERM Emmerson Resources 0 -4 -6 -26 0.068 $ 33,880,217.25
AME Alto Metals Limited 0 -9 4 -7 0.079 $ 35,570,519.14
IVR Investigator Res Ltd 0 -2 -24 14 0.065 $ 88,704,422.67
ALY Alchemy Resource Ltd 0 7 25 -17 0.015 $ 9,411,408.34
KGM Kalnorth Gold Ltd 0 0 0 0 0.013 $ 11,625,120.78
SIH Sihayo Gold Limited 0 11 -17 -55 0.01 $ 36,854,614.13
CTO Citigold Corp Ltd 0 0 -29 -23 0.01 $ 31,170,250.00
GED Golden Deeps 0 0 10 -33 0.011 $ 8,922,291.56
CGN Crater Gold Min Ltd 0 0 -15 21 0.017 $ 20,867,429.74
RMX Red Mount Min Ltd 0 0 -9 11 0.01 $ 16,109,041.32
NES Nelson Resources. 0 -2 -61 -34 0.046 $ 8,743,148.78
CHZ Chesser Resources 0 -10 -23 -33 0.135 $ 62,571,976.88
POL Polymetals Resources 0 -4 0.135 $ 4,658,790.84
KAI Kairos Minerals Ltd 0 10 28 -48 0.032 $ 53,648,626.88
MML Medusa Mining Ltd 0 -1 -12 -9 0.81 $ 171,495,473.33
TG1 Techgen Metals Ltd 0 6 0.19 $ 7,320,469.15
PNR Pantoro Limited 0 2 2 -9 0.215 $ 309,979,713.56
FG1 Flynngold 0 -3 0.155 $ 9,299,999.69
HCH Hot Chili Ltd 0 3 -15 5 0.041 $ 157,538,426.64
TTM Titan Minerals 0 19 14 0 0.125 $ 150,866,736.93
TSO Tesoro Resources Ltd 0 5 -49 -54 0.11 $ 55,110,755.59
DDD 3D Resources Limited 0 0 -27 -31 0.004 $ 15,521,488.37
PNX PNX Metals Limited 0 -19 -13 -41 0.0065 $ 21,913,161.07
RED Red 5 Limited 0 10 16 -39 0.215 $ 494,835,736.92
AVW Avira Resources Ltd 0 0 -17 -38 0.005 $ 7,562,720.00
ADV Ardiden Ltd 0 15 -17 -44 0.015 $ 32,240,313.24
WCN White Cliff Min Ltd 0 8 -28 8 0.013 $ 6,723,553.19
NCM Newcrest Mining 0 -7 -2 -28 23.83 $ 20,056,289,041.68
RSG Resolute Mining -1 -12 -31 -58 0.4325 $ 491,232,254.17
CYL Catalyst Metals -1 -4 -12 -23 1.88 $ 184,795,959.24
SBM St Barbara Limited -1 -12 -30 -59 1.41 $ 1,065,977,812.03
DTR Dateline Resources -1 -7 20 20 0.09 $ 39,105,857.97
NML Navarre Minerals Ltd -1 -3 -40 -30 0.087 $ 60,723,577.14
EM2 Eagle Mountain -1 5 60 202 0.8 $ 169,704,216.81
RVR Red River Resources -1 -1 -28 33 0.1725 $ 90,610,514.23
BCN Beacon Minerals -2 -2 -12 -8 0.0325 $ 114,672,836.64
BDC Bardoc Gold Ltd -2 -12 -19 -28 0.06 $ 105,850,699.94
RRL Regis Resources -2 -13 -27 -62 2.08 $ 1,621,547,634.30
DGO DGO Gold Limited -2 -11 -1 -26 2.9 $ 231,905,216.34
BC8 Black Cat Syndicate -2 -1 -20 -29 0.545 $ 77,444,296.05
YRL Yandal Resources -2 0 12 117 0.51 $ 51,726,575.80
GSN Great Southern -2 -9 -17 -58 0.05 $ 27,305,662.68
G50 Gold50Limited -2 -16 0.245 $ 12,327,910.25
HAW Hawthorn Resources -2 7 -35 -51 0.048 $ 16,675,780.65
ZNC Zenith Minerals Ltd -2 12 88 114 0.235 $ 75,732,746.65
BGL Bellevue Gold Ltd -2 -13 0 -27 0.8125 $ 823,049,483.34
STN Saturn Metals -3 -20 10 -48 0.39 $ 44,482,731.45
AUC Ausgold Limited -3 -5 -20 3 0.039 $ 64,999,331.18
HMX Hammer Metals Ltd -3 -1 -18 100 0.078 $ 63,452,580.59
KSN Kingston Resources -3 -3 -17 -28 0.195 $ 55,800,138.62
VKA Viking Mines Ltd -3 -24 -54 44 0.0175 $ 18,382,651.76
AZS Azure Minerals -3 45 6 55 0.34 $ 108,232,502.35
GRL Godolphin Resources -3 6 -20 -21 0.165 $ 13,878,359.72
TLM Talisman Mining -3 -14 68 35 0.155 $ 30,793,683.53
ADN Andromeda Metals Ltd -3 -11 -63 60 0.155 $ 381,540,567.13
MTH Mithril Resources -3 -16 -18 -68 0.0155 $ 41,123,728.66
BMR Ballymore Resources -3 0 0 0 0.31 $ 20,728,643.49
TBR Tribune Res Ltd -3 -14 -3 -39 4.83 $ 252,371,450.37
MGV Musgrave Minerals -3 -11 -18 -54 0.28 $ 146,636,310.98
AUT Auteco Minerals -4 -15 -9 -45 0.082 $ 138,375,851.69
ZAG Zuleika Gold Ltd -4 -7 -36 -10 0.027 $ 10,662,427.70
AAU Antilles Gold Ltd -4 -1 -20 100 0.079 $ 20,443,475.63
RDN Raiden Resources Ltd -4 13 4 44 0.026 $ 32,464,678.90
PGD Peregrine Gold -4 -10 0.385 $ 12,935,536.08
NAG Nagambie Resources -4 15 35 54 0.077 $ 38,494,790.64
SNG Siren Gold -4 0 -34 0.25 $ 17,923,671.00
CY5 Cygnus Gold Limited -4 -17 -26 -32 0.125 $ 13,281,462.01
WAF West African Res Ltd -4 -5 9 -14 0.975 $ 892,236,134.13
NWM Norwest Minerals -4 0 -6 -33 0.07 $ 12,461,901.98
HRZ Horizon -4 0 15 -18 0.115 $ 65,317,148.00
KRM Kingsrose Mining Ltd -4 -6 -6 22 0.045 $ 32,850,330.84
RML Resolution Minerals -4 10 -8 -58 0.022 $ 9,848,951.51
QML Qmines Limited -4 -6 0.33 $ 15,955,213.66
CBY Canterbury Resources -5 15 -5 5 0.105 $ 12,620,845.65
AGG AngloGold Ashanti -5 -13 -27 -49 4.2 $ 384,485,467.15
MAT Matsa Resources -5 -5 -32 -56 0.061 $ 22,205,586.44
DEG De Grey Mining -4 -13 2 -29 1.01 $ 1,369,962,084.66
TBA Tombola Gold Ltd -5 -15 -23 -30 0.04 $ 25,371,831.16
TMZ Thomson Res Ltd -5 -11 -29 108 0.1 $ 51,931,040.48
RXL Rox Resources -5 0 -28 -58 0.4 $ 66,195,197.88
MDI Middle Island Res -5 -3 -64 -77 0.095 $ 11,629,731.09
MZZ Matador Mining Ltd -5 -11 17 -31 0.37 $ 83,493,316.14
LCL Los Cerros Limited -5 -15 -2 -30 0.1325 $ 82,384,751.15
ALK Alkane Resources Ltd -6 -18 6 -43 0.7725 $ 482,264,928.00
MEI Meteoric Resources -6 -23 -54 -37 0.031 $ 42,793,329.25
MRR Minrex Resources Ltd -6 -17 -35 -38 0.015 $ 9,209,261.41
GML Gateway Mining -6 -17 -50 -32 0.015 $ 28,554,534.00
SRN Surefire Rescs NL -6 0 -40 0 0.015 $ 15,460,345.73
LCY Legacy Iron Ore -6 0 -6 200 0.015 $ 96,071,077.76
BAT Battery Minerals Ltd -6 0 -42 7 0.015 $ 30,490,999.23
ARN Aldoro Resources -6 -28 110 340 0.44 $ 39,121,547.11
CMM Capricorn Metals -7 7 44 2 2.27 $ 843,419,441.57
SSR SSR Mining Inc. -7 -9 5 20.52 $ 483,612,096.00
MM8 Medallion Metals. -7 16 0.2325 $ 18,825,545.00
BNZ Benzmining -7 -1 3 0.78 $ 37,442,480.46
ASO Aston Minerals Ltd -7 8 63 183 0.13 $ 128,816,652.92
OKU Oklo Resources Ltd -8 -4 -29 -61 0.12 $ 63,003,726.50
TRN Torrens Mining -8 -13 3 0.17 $ 11,843,039.46
BGD Bartongoldholdings -8 -13 0.17 $ 15,021,999.30
RDS Redstone Resources -8 0 -15 -45 0.011 $ 7,908,989.69
GMN Gold Mountain Ltd -9 -5 -44 -50 0.021 $ 23,543,281.74
TRM Truscott Mining Corp -9 -11 48 55 0.031 $ 4,710,187.86
RGL Riversgold -9 -23 -38 -49 0.03 $ 12,929,350.27
AYM Australia United Min -9 43 11 150 0.01 $ 20,268,352.34
LEX Lefroy Exploration -9 -4 -37 50 0.39 $ 48,089,866.80
OZM Ozaurum Resources -9 7 -22 0.145 $ 8,260,650.00
DEX Duke Exploration -10 -11 -23 0.235 $ 21,199,620.72
TMX Terrain Minerals -10 13 -10 -44 0.009 $ 6,621,849.08
BAR Barra Resources -10 35 35 13 0.027 $ 21,360,712.85
GNM Great Northern -10 -18 -10 -61 0.009 $ 12,090,509.76
MEG Megado -11 -22 -44 0.098 $ 4,218,782.20
ARV Artemis Resources -11 29 1 5 0.081 $ 107,929,797.99
WRM White Rock Min Ltd -11 -25 -53 -59 0.28 $ 42,027,402.74
PUA Peak Minerals Ltd -11 -20 -30 -41 0.016 $ 9,835,242.43
HRN Horizon Gold Ltd -13 -3 -19 -27 0.35 $ 36,275,285.44
NMR Native Mineral Res -13 -8 -21 0.225 $ 6,483,037.50
MKR Manuka Resources. -15 -6 -23 -45 0.29 $ 30,954,774.22
A1G African Gold Ltd. -19 73 10 117 0.285 $ 25,594,196.32
GWR GWR Group Ltd -22 -46 -42 -27 0.145 $ 45,417,966.45
MLS Metals Australia -25 -25 -25 -50 0.0015 $ 8,454,376.09
ANL Amani Gold Ltd -25 0 50 -25 0.0015 $ 24,773,993.49

 

TOP WEEKLY GOLD PERFORMERS

KINGWEST RESOURCES (ASX:KWR)

Kingwest is now up 64% since announcing a gold discovery under a WA salt lake called ‘Goongarrie’ on Monday.

Exploring for gold underneath salt lakes is tough, which is probably why so many remain underexplored — regardless of how prospective they are.

That is why early results like 3m @ 6.5g/t gold and 3m @ 4.1g/t gold from Kingwest are so important.

“These results support our targeting for a potential major discovery which we have named the ‘Sir Laurence’ Prospect,” CEO Ed Turner says.

“We have just scratched the surface of bedrock mineralisation at this stage.

“I look forward to receiving the outstanding assays as well as planning follow up drilling along strike within Target A10, which includes many other similar litho-structural targets.”


 

NEXUS MINERALS (ASX:NXM)

The explorer keeps hitting high-grade gold at the emerging ‘Wallbrook’ gold project in WA.

Earlier this month, the previously undrilled ‘Templar’ discovery delivered numerous hits like 10m @ 5.64g/t gold (within 23m @ 2.85g/t Au from 132m).

Templar and the neighbouring ‘Crusader’ target could be part of one giant system, Nexus managing director Andy Tudor says.

“These broad high-grade results received from Templar occur in the same altered and mineralised rocks we see at the Crusader prospect, 1.2km to the south,” he says.

“This has effectively linked the two prospects together into one large mineralised system.”

A 700m deep diamond drill hole at Templar is now underway.

The $86m market cap stock is up ~170% over the past month.

 

METALSTECH (ASX:MTC)

$6 billion market cap Chifeng Gold Mining will buy ~5.8m shares in emerging miner MetalsTech at 34c apiece for a total investment of $2m.

This is a pretty big deal, MTC says.

“Chifeng is widely considered to be one of the most successful precious metals investors in China owing largely to the experience of their chairman Mr Wang Jianhua who before transforming Chifeng, served as CEO of $62bn capped Zijin Mining and before that, chairman of $17bn capped Shandong Gold,” MTC chairman Russell Moran says.

MTC’s 1.5moz (and growing) ‘Sturec’ project could be a world class epithermal deposit, he says.

“We hope that this recent interest from Chifeng is a sign of growing interest in our broader development plans for Sturec.”

MTC also reminds investors that they need to finalise their shareholdings by October 7 to receive free shares in lithium spinout Winsome Resources (ASX:WR1).

The post Gold Digger: Where do we go from here? appeared first on Stockhead.

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Matsa sets sights on 1 million ounces of gold at Lake Carey

Special Report: Gold explorer Matsa Resources is focused on advancing its Lake Carey project in the Eastern Goldfields of WA … Read More
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Gold explorer Matsa Resources is focused on advancing its Lake Carey project in the Eastern Goldfields of WA – and has big aspirations to grow the resource to above 1 million ounces.

The project comprises the Fortitude, Fortitude North, Devon, and Red October prospects with the mineral resource estimate at 11,207,000 tonnes at 2.4 g/t gold for 874,000 ounces.

This doesn’t include the Fortitude North prospect, but the company is confident that determining a maiden resource – and adding it to the Lake Carey resource – will be on the cards soon.

 

Fortitude North exploration underway

Exploration has already kicked off, and drill testing to date at Fortitude North has supported a potential 378,990 ounces at 2.53g/t to 600,000 ounces at 3.8g/t gold in the exploration target.

 Previously reported intersections at the prospect include:

  • 47m at 2.55g/t from 42m;
  • 26m at 1.95g/t from 58m;
  • 8m at 3.02g/t from 106m;
  • 4m at 13.63g/t from 79m; and
  • 17m at 3.4g/t from 73m.

Matsa Resources (ASX:MAT) is now planning infill drilling and considers Fortitude North highly prospective, especially because it could include the Fortitude deposit further south – indicating a large potentially mineralised trend.

 

All the hallmarks of a significant system

Matsa executive chairman Paul Poli said that while it’s still early days, “Fortitude North displays all the hallmarks of a significant system.”

“The drilling so far, has outlined a substantial mineralised position only 6km from the favoured location for a new mill at Fortitude to service our Lake Carey project,” he said.

“With only 21 holes in this system so far, we need more drilling to get this into a resource and commence mining studies.

“Successful drilling here, could lead to a substantial new deposit which can be complementary to our existing resource base of 874,000 ounces.”

The company says there are several targets at Lake Carey that remain lightly explored, which it considers opportunities for further growth.

Lake Carey Gold Project and Tenement package colour coded by hubs: Red October (red) Fortitude (yellow) Lake Carey North (pink) Devon (blue) Lake Carey South (orange) Lake Carey Central (green).

 

Lake Carey processing plant plans

Matsa has also commenced studies into building a wholly owned gold processing plant at Lake Carey which will service all its deposits.

The plant would deliver $55.4 million of cash surplus servicing Fortitude across the first 22 months, as well as $40.75 million of cash surplus servicing Devon across the first 12 months.

At circa $20m market capitalisation, Matsa is one of the most competitively valued gold explorers.

 

 

Matsa Resources share price today:


 

This article was developed in collaboration with Fresh Equities, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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Aussie Uranium Stocks Soar After Australia Decides It Wants Nuclear Industry To Go With New Nuclear Subs

Aussie Uranium Stocks Soar After Australia Decides It Wants Nuclear Industry To Go With New Nuclear Subs

Following last night "historic" AUKUS…

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Aussie Uranium Stocks Soar After Australia Decides It Wants Nuclear Industry To Go With New Nuclear Subs

Following last night "historic" AUKUS deal, which officially pitted US and UK with Australia against China, in the process supplying the aussies with nuclear-powered subs (while enraging the French whose $50 billion contract to build diesel-electric submarines was scrapped as a result), Australia has a revelation: the deal would see Australia become the only country in the world with nuclear-powered submarines to not have its own domestic nuclear industry. This in turn immediately led to further calls to reverse a longstanding ban on developing local uranium resources.

“Getting nuclear subs makes sense for our national defense,” said Queensland Nationals Senator Matt Canavan, who has been leading a push in parliament to develop Australia’s nuclear industry. “But no country in the world has nuclear subs without having nuclear power,” he said.

“I thought before the subs deal we should have nuclear power — it makes even more sense now.”

As Australia's Daily Telegraph poignantly observes, France, which was previously to supply Australia with diesel subs assembled in Adelaide, has its own fleet of 10 nuclear attack and nuclear ballistic missile submarines, and derives more than 70% of its domestic energy needs from nuclear power. Of course, Russia and the US both have large nuclear-powered naval fleets, and derive about 20% of their respective domestic electricity from nuclear.

China, meanwhile, is continuing to develop its own nuclear-powered and nuclear-armed navy but only relies on atomic energy for 5% cent of its power, thanks to its lax environmental standards and reliance on coal-fired power.

As a result, local mining industry figures, said that this was the perfect time to reignite the discussion about nuclear.

“This is a perfect opportunity to update our approach to nuclear energy by removing the cold-war era ban on uranium mining in NSW. It’s a real chance to develop a new industry here in NSW that could provide local uranium to meet our domestic energy and national security needs,” NSW Mining CEO Stephen Galilee said.

Galilee’s thoughts were echoed by the Minerals Council of Australia’s Tania Constable, who said of the deal, “This is an incredible opportunity for Australia’s economy — not only will we develop the skills and infrastructure to support this naval technology, but it connects us to the growing global nuclear power industry and its supply chains.

But, she added, “Outdated regulations at the federal and state levels that prohibit nuclear power — and in some cases exploration and mining of uranium — contribute to Australia being unable to properly even consider, let alone develop, this important industry.”

Opposition Leader Anthony Albanese, however, kiboshed any thought of leveraging a domestic nuclear industry off the deal, saying that a condition for the ALP’s support was that “there be no requirement of a domestic civil nuclear industry”.

His objection, however, fell on deaf ears and overnight Australia's uranium stocks soared on hopes that Australia was indeed set to finally enter the nuclear era. As a result Deep Yellow jumped as much as 10%, Paladin Energy soared as much as 9.3%, Defense contractor Austal shares climbs as much as 7.4%; the most since March and Peninsula Energy jumped at much as 17%.

Meanwhile, back in the US uranium stocks have continued their ascent as more investors focus on Sprott's attempt to go "Hunt Brothers" on uranium with his Sprott Physical Uranium Trust  which has been on a buying spree, bolstering its stockpile by 45% in four weeks after snapping up 8.1 million pounds of the commodity while prices soared. Uranium has surged 40% this month, putting pressure on utility owners and other users when supplies are dwindling and demand is set to take off thanks to more reactors being built around the world.

Discussing its strategy with Bloomberg, the Canadian firm behind the world’s only physical uranium fund said it wasn't solely responsible for the move, but that hedge funds and family offices are driving up demand for the radioactive metal used to fuel nuclear reactors.

“I don’t think we’re crowding them out,” said John Ciampaglia, chief executive officer of Sprott Asset Management, which oversees the trust. “You’ve got end users that are trying to buy materials, you’ve got speculators and financial intermediaries in the market as well.”

Investment demand from non-utility buyers such as hedge funds and family offices has been strong this year, even before Sprott’s asset-management unit launched its trust on July 19, according to Ciampaglia. A few uranium development companies bought the physical commodity after raising equity in the capital markets rather than parking the proceeds into cash, he said.

Still, according to the latest data, Sprott’s trust holds about 26 million pounds of uranium, equal to about 14% of the annual consumption from the world’s nuclear reactors. The closed-end fund was formed out of an April takeover of Uranium Participation Corp., which held 18 million pounds of uranium, and its trust units trade on the Toronto Stock Exchange. The fund invests and holds substantially all of its assets in uranium, which is stored in highly secured facilities in Canada, France and the U.S.

Units of Sprott Physical Uranium Trust have soared 42% in September since our post "A Bitcoin-Like Opportunity In Uranium?"

Historically low prices and pandemic-driven mine disruptions have prompted uranium producers including Cameco to buy from the spot market to fulfill their long-term contracts with consumers. That means stockpiling by the Sprott fund may have the potential for tightening the market and boosting prices, in the process as prices rise, the value of the fund will rise as well, attracting more inflows, leading to even more uranium purchases, even higher prices and so on until we have another Hunt Brothers situation on our hands, only with uranium this time instead of silver.

The robust investment demand is built on a growing realization that nuclear power is becoming more accepted by policymakers worldwide as a way to limit greenhouse-gas emissions, Ciampaglia said Wednesday in an interview. Australia's reaction was merely confirmation of this.

“That’s something that’s just recent, and you’re seeing this from the Biden administration acknowledging and providing support for nuclear,” he said. “And the European Union clearly identifies nuclear as part of the taxonomy.”

As Bloomberg adds, Uranium is also getting a boost from generalist investors who are seeking investments that meet environmental, social and governance criteria or support the energy shift away from fossil fuels, he said.

Then there’s the recent buzz from retail investors, with uranium becoming a recent target of the meme-stock frenzy that share tips on Reddit message boards. Cameco, the world’s second-largest uranium miner, was the most searched stock symbol on Monday, according to WallStreetBets Ticker Sentiment.

Reddit day-traders “seem to be into it,” Bloomberg Intelligence analyst Eric Balchunas said in an interview. “When you have something that’s starting to surge that’s been beaten for 10 years and there’s some more room to run potentially, I think that’s what they’re trying to do.”

Tyler Durden Thu, 09/16/2021 - 21:30
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