Sarytogan Graphite Identifies Copper Anomalism with Possible Porphyry Features

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THE DRILL SERGEANT: Sarytogan Graphite (ASX: SGA) has been quick to release news from copper exploration undertaken at the company’s Baynazar copper exploration project in Kazakhstan.

Sarytogan Graphite pegged the Baynazar project last year and wasted little time before flying a high-resolution aero magnetic survey collecting some 6,000 soil samples.

The company has an external exploration review carried out that confirmed the previous exploration results as well as delineating three new anomalies at the Aminbay target, including what the company described as “textbook metal zonation and aeromagnetic features consistent with a possible porphyry intrusion”.

Sarytogan Graphite indicated the soil sampling program will be infilled over the anomalies and extended to the north and south ahead of planning drilling programs.

“Kazakhstan is an established mining jurisdiction with many of the world’s lowest cost copper mines and excellent prospectivity for the discovery of further copper porphyry mineralisation,” Sarytogan Graphite managing director Sean Gregory said in the company’s ASX announcement.

“This second target generated at the Baynazar Copper Exploration Project is named ‘Aminbay’ and looks very promising with textbook metal zonation and aeromagnetic features consistent with a possible porphyry intrusion.

“The soil sampling will be infilled and extended ahead of planning drilling at these exciting targets.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

WIN Metals Drills Butchers Creek Resource Potential

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THE DRILL SERGEANT: WIN Metals (ASX: WIN) confirmed continuation of mineralisation at the company’s Butchers Creek gold project (BCGP) in the Kimberley region of Western Australia.

WIN Metals reported the confirmation via recent exploration drilling results received from the Butchers Creek gold deposit that demonstrated the mineralisation to remain continuous and open at depth.

The results included:

24BCRCD008
16.52 metres at 2.1 grams per tonne gold, including 11m at 3.01g/t gold.

This intersection was encountered about 260m to the south of previous drilling the company has completed within the current resource envelope.

The campaign was the first undertaken by WIN Metals’ at Butchers Creek and comprised of 25 drillholes, including five exploration step out holes, of which four intersected gold mineralisation.

“The results released today from the main Butchers Creek mineralisation demonstrating continuity down plunge is an exciting development for the project, showing that the resource continues well below where it was previously thought to terminate,” WIN Metals managing director and CEO Steve Norregaard said in the company’s ASX announcement.

“A major success with these results underscoring the significant growth potential of the Butchers Creek mineral resource we now see.

“We now progress with planning our next phase of drilling with the knowledge ‘the gold is there’ with work programs becoming an exercise of further definition and growth.

“With such a large system at play and the magnitude of the massive step out success, delineating the gaps in between will keep us well and truly primed for further success.

“The best is yet to come.

“We look forward to our next upcoming field season with great anticipation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Companies Presenting at 2025 RIU Explorers Conference Already Have News to Report

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THE CONFERENCE CALLER: Companies presenting at the upcoming 2025 RIU Explorers Conference have been busy in the lead up to the event.

Here’s a brief sample of what has been happening across the sector thus far this year.

 

 

 

Coda Minerals to Commence High-Impact Drilling at Elizabeth Creek

Coda Minerals (ASX: COD) is on the march in readiness for a high-impact exploration drilling program at the company’s 100 per cent-owned Elizabeth Creek copper-cobalt project (ECCCP) in South Australia.

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Dreadnought Resources Consolidates Mangaroon Tenement Holdings

Dreadnought Resources (ASX: DRE) continues to expand its Mangaroon project in Western Australia.

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Spartan Resources Kicks Off NY with Major Dalgaranga Drilling Program

Spartan Resources (ASX: SPR) has kicked off 2025 in style with a raft of activity at the company’s 100 per cent-owned Dalgaranga gold project (DGP), located in the Murchison region of Western Australia.

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Caspin Resources to Commence Bygoo Tin Project Drilling

THE DRILL SERGEANT: Caspin Resources (ASX: CPN) is set to commence its first drilling campaign at the company’s recently acquired, 100 per cent-owned Bygoo tin project in New South Wales.

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Galan Lithium Increases Candelas Mineral Resources

Galan Lithium (ASX: GLN) announced a material increase in the JORC (2012) Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Candelas project in the Catamarca Province of Argentina.

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New World Resources Identifies Gold-Rich Alteration Zone at Antler Deposit

New World Resources (ASX: NWC) reported identifying additional gold mineralisation at the y’s Antler Copper project in Arizona, USA.

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Warriedar Resources Drills High-Grade Gold Across Multiple Shears

Warriedar Resources (ASX: WA8) has identified a new gold zone within the company’s Golden Range project in Western Australia.

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Will 2025 IPOs Limbo Beneath Record Low Set in 2024?

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COMMODITY CAPERS: HLB Mann Judd has been completing its annual IPO Watch for 20 years, in which time it has not seen such a dire result as that presented by 2024.

The advisory and accounting firm found that 2024 recorded just 29 new ASX listings, fewer tha 2023 which produced just 32 IPOs, a result market watchers considered then to be disappointing.

“The poor listing volumes are reflective of another challenging year in which there have been significant macro and political factors globally, and upcoming policy uncertainties in relation to the incoming US administration from the end of January,” HLB Mann Judd partner corporate & audit services Marcus Ohm said in the report.

Ironically the record low number of 2024 listings produced a higher total raising of funds, a 387 per cent increase to be precise of $4.1 billion, a decent jump on that delivered in 2023 of $847 million.

This was attributed to the eleven large cap listings in the year. HLB Mann Judd puts companies with a market capitalisation above $100 million in the large cap grouping. The eleven bigger cap companies contributed 96 per cent of the total funds raised.

There was only one large cap listing in the Materials sector in the year being Metals Acquisition Limited (ASX: MAC) which listed in February raising $325 million.

Elsewhere across the sector the ASX welcome another 12 entrants. The total of thirteen representing the highest number of listings in the year. Irony bit again, however, with new Materials listings representing only 45 per cent of total listings, down from 72 per cent in 2023 as conditions for battery metals listings proved difficult.

It should be of no surprise that the Materials sector has historically recorded the most new listings, a rosette the sector maintained to display proudly in 2024.

There are, however many headwinds for the sector to battle, none more so than the lack of funds that seem to be available from the investment community.

More companies on the boards means more competition for that all important investment dollar and these days, as opposed to the mad times when those with the keys to the safe would throw money at anything, punters are far mor circumspect when it comes to taking the plunge, which is usually from the lowest springboard as opposed to the 10 metre tower.

Ohm was more prudent when presenting his thoughts on the matter, saying “This reflects unsupportive market conditions for junior exploration listings resulting in a marked decrease in the number of successful Materials listings.”

Gazing into his crystal ball, Ohm indicated there to be only three upcoming listings raising new capital on ASX as at 4 January 2025, which he suggested was a fair indication there won’t be an immediate uptick in IPO activity in the first quarter of the 2025.

“Conditions remain challenging in the IPO market at present and any marked improvement is likely be in the second half of 2025,” he said.

“The effects of a change in presidency in the US also present a potential impact on both the Australian and global markets in 2025.”

 

 

Coda Minerals to Commence High-Impact Drilling at Elizabeth Creek

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THE DRILL SERGEANT: Coda Minerals (ASX: COD) is on the march in readiness for a high-impact exploration drilling program at the company’s 100 per cent-owned Elizabeth Creek copper-cobalt project (ECCCP) in South Australia.

Coda Minerals anticipates commencing drilling in the coming weeks targeting extensions of the project’s cornerstone Emmie Bluff copper cobalt-silver deposit.

The first round of drilling will consist of up to 2,000m of drilling, comprising four Reverse Circulation pre-collars with diamond tails.

The program will target repeats of the Emmie Bluff mineralisation immediately to the east and south-east of the main Mineral Resource (collectively the “Emmie East” prospect), which comprises 40.2 million tonnes at 1.87 per cent copper equivalent.

Coda has identified a geophysical response to the east of Emmie Bluff similar to whathas previously been seen in the core of the deposit, which the company thinks could offer potential for the discovery of a secondary sub-basin.

“Drilling at the Emmie East prospect area will test several high-confidence geophysical targets which exhibit many distinct similarities to the area which covers the main Emmie Bluff Mineral Resource,” Coda Minerals CEO Chris Stevens said in the company’s ASX announcement.

“This similarity extends across not just the electrical properties of the rock as seen through MT, but also the acoustic properties of the rock as assessed by 2D seismic.

“We define success at Emmie East as being able to replicate the intercepts which we have reported within the bounds of the Emmie Bluff Resource – which typically comprise mineralised horizons 2-6m thick with copper equivalent grades in excess of one per cent copper equivalent.

“These intersections, while less thick than those encountered further down at Emmie Deeps, can extend for kilometres in multiple directions, as they do at Emmie Bluff.

“Put together, these intercepts can result in a very large accumulations of metal.

“Although rare in Australia, deposits of this type represent around 20 per cent of global copper production.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Dreadnought Resources Consolidates Mangaroon Tenement Holdings

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) continues to expand its Mangaroon project in Western Australia.

Dreadnought Resources further consolidated ground at Mangaroon via the acquisition of tenement E09/2383, a tenement the company explained complements its existing tenure.

The new purchase provides additional ground with gold mineralisation including a portion of the Jailor target, which is an approx. 370 metres subcropping gold lode that remains open and crosses the boundary into the E09/2383 tenement.

Tenement E09/2383 sits within the Bordah camp scale prosect at Mangaroon.

Bordah is defined by strong gold and base metal anomalism with a similar interpreted lithostructural setting to the company’s Star of Mangaroon prospect.

“The acquisition closes a gap in our tenement position at Mangaroon,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“We already have a dominant position in the region, and we see this tenement as important to the discovery pillar of our strategy for Mangaroon.

“Bordah was identified as an underexplored yet prospective lithostructural setting at Mangaroon.

“Bordah now contains some of our strongest gold and pathfinder in stream sediment anomalies with two targets already defined with high grade gold at Jailor, and an outcropping gossan with coincident VTEM anomaly at Inevitable.

“We believe that Bordah, along with High Range, will continue to deliver compelling targets for discovery focused drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Spartan Resources Kicks Off NY with Major Dalgaranga Drilling Program

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THE DRILL SERGEANT: Spartan Resources (ASX: SPR) has kicked off 2025 in style with a raft of activity at the company’s 100 per cent-owned Dalgaranga gold project (DGP), located in the Murchison region of Western Australia.

Spartan Resources informed the market this week it has exploration and drilling operations, underground development and other activities underway at Dalgaranga.

The company has recommenced surface drilling utilising two diamond drilling rigs operating initially at the recently discovered Freak prospect and the Sly Fox gold deposit, with the aim of delivering further resource growth and converting Inferred Resources to Indicated.

Other near-mine targets to have been prioritised include immediately north of Never Never and south of Freak as part of a 20,000m surface drilling campaign scheduled for the first half of CY2025.

“After wrapping up 2024 with a landmark resource upgrade and $220 million capital raising, Spartan enters the New Year with significant momentum and activity levels quickly moving up a gear,” Spartan Resources executive chair Simon Lawson said in the company’s ASX announcement.

“After a well-deserved break, the exploration team has hit the ground running with surface drilling already underway and our recently appointed underground drilling contractor, AUD, on track to start underground drilling operations next month.

“With at least 85,000m of drilling budgeted – 65,000m of underground drilling and 20,000m of surface drilling through to mid-year – we expect to continue our exceptional track record of delivering further growth in our high-grade resource inventory.

“Our next project-wide MRE update is scheduled for mid-year, with the delivery of the Feasibility Study on the restart of the Dalgaranga Operation expected to follow shortly afterwards.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caspin Resources to Commence Bygoo Tin Project Drilling

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THE DRILL SERGEANT: Caspin Resources (ASX: CPN) is set to commence its first drilling campaign at the company’s recently acquired, 100 per cent-owned Bygoo tin project in New South Wales.

Caspin Resources has received all requisite approvals for the drilling program at Bygoo, which it anticipates kicking off in the first week of February with approximately 1,500m of RC drilling.

The campaign will follow footsteps of previous drillers at the Bygoo North prospect that defined at least five separate lodes of tin mineralisation.

Caspin explained the most recent discoveries have been high-grade, but also steeply dipping, indicating the older generations of shallow, vertical drilling were ineffective.

The company aims to test the continuity and extensions of high-grade mineralisation at several of the mineralised lodes.

“The acquisition of the Bygoo tin project, and now the commencement of drilling, marks a new chapter in the company’s short history,” Caspin Resources managing director Greg Miles said in the company’s ASX announcement.

“This program will be focussed solely on the advanced Bygoo North prospect and the potential to define and extend high-grade tin mineralisation.

“Bygoo North has previously delivered high-grade intercepts such as 35 metres at 2.1 per cent tin at shallow depths.

“More broadly, we’ve conducted a thorough data review process and have been delighted by the new opportunities for further high-grade discoveries across the project and are already in the planning stages for regional drill programs, in addition to potential follow-up at Bygoo North.

“We are also encouraged by continued strong tin prices during a time of commodity price uncertainty.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Galan Lithium Increases Candelas Mineral Resources

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced a material increase in the JORC (2012) Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Candelas project in the Catamarca Province of Argentina.

Galan Lithium reported a robust Scoping Study result for Candelas in October 2019 using a MRE of 685,000 tonnes Lithium Carbonate Equivalent (LCE) as the basis for the study.

The updated MRE has come in at 1.6 million tonnes LCE, which the company believes.

o Enhances the economic potential of Candelas.
o Provides a foundation for assessing other commercialisation options for Candelas, including larger-scale evaporation systems and/or alternative lithium extraction technologies.
o Highlights significant potential for further growth of the Candelas Mineral Resource, which could underpin further development and growth phases.

“Applying sound geoscientific knowledge and modern exploration techniques to a world-class lithium resource has continued to deliver outstanding results for Galan,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“We identified the potential to add significant value-accretive LCE tonnes at Candelas on a very modest budget and have delivered on that opportunity.

“With this material resource growth, Galan now sits within the top 10 lithium production and construction projects, by Mineral Resource, which is an unbelievable achievement from our maiden resource generated in 2019.

“Our resources are focused on finalising the Phase 1 financing and offtake process followed by completion of the Phase 1 construction and operations at HMW.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

New World Resources Identifies Gold-Rich Alteration Zone at Antler Deposit

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THE DRILL SERGEANT: New World Resources (ASX: NWC) reported identifying additional gold mineralisation at the y’s Antler Copper project in Arizona, USA.

New World Resources explained the newly identified mineralisation to be associated with the footwall alteration and stringer zone, a domain of the project’s Antler deposit, which the company has previously explored for its base metal potential.

The company is conducting an exploration review, wherein sampling and analysis of drill core from outside the previously reported massive sulphide domains and in the newly identified stringer zone has revealed elevated gold grades over 550m of strike and 1000m dip extent, all of which falls outside the current mine plan.

Gold intercepts yielded to date in the alteration zone include:

ANT0023
7m at 2.03 grams per tonne gold, 3.95m at 1.53g/t gold, and 1.85m at 0.68g/t gold;

ANT0009
1.17m at 7.53g/t gold;

ANT0017
4.35m at 1.84g/t gold and 2.5m at 2.28g/t gold;

The ongoing review will involve further work to define the extent, continuity, and grade of the gold mineralisation, and how any such mineralisation may be included in future mine plans.

“As Antler rapidly proceeds to development, the identification of significant gold mineralization within the stringer zone at Antler represents an exciting potential new source of value for the company,” New World Resources managing director Nick Woolrych said in the company’s ASX announcement.

“We are currently in the process of a detailed exploration review and field work programs following the 2024 drilling programs, with one of the world’s leading VMS experts appointed to assist.

“This exciting development is a direct result of this work.

“The ongoing work at the Antler Copper project continues to generate positive results, highlighting the project’s significant exploration upside.

“The company remains committed to advancing the project through systematic exploration and evaluation alongside permitting and financing, with the goal of unlocking its full value as we finalise feasibility studies in 2025 and proceed to production in 2027.”

The JORC Mineral Resource Estimate (MRE) for the Antler Deposit currently comprises 11.4 million tonnes at 2.1 per cent copper, 5 per cent zinc, 0.9 per cent lead, 32.9g/t silver and 0.36g/t gold (11.4Mt @ 4.1% Cu-equivalent), which the company claims to make it one of the highest-grade copper deposits in the world (on a copper-equivalent basis).

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE