Sky Metals Expands Tallebung High-Grade Tin Discovery

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THE DRILL SERGEANT: Sky Metals (ASX: SKY) declared growth of the company’s 100 per cent-owned Tallebung tin project in central New South Wales.

Sky Metals made the declaration on the back of recent Reverse Circulation (RC) drilling that commenced in mid-April.

Shallow, high-grade tin intersected in the first three holes of the RC program included:

TBRC118
6 metres at 1.01 per cent tin from 52m, including 2m at 2.54 per cent tin from 54m;

TBRC116
13m at 0.33 per cent tin from 70m, including 5m at 0.74 per cent tin from 76m; and

TBRC117
2m at 1.1 per cent tin from 69m.

“We have made a cracking start to the RC program, with shallow, high-grade tin returned in each of the first three holes,” SKY Metals managing director & CEO Oliver Davies said in the company’s ASX announcement.

“The initial drilling has expanded the high-grade zone immediately south of the MRE, adding substantial momentum to our current exploration program.

The 2.54 per cent tin intercept equates to over 8.5 per cent copper with the tin price 3-3.5 times the copper price at current LME spot prices.

“This demonstrates the very high value of these intercepts and reinforces the strategic importance of the shallow extensions we are finding to the south and east of the current deposit.

“This is an exciting time for our shareholders as we begin to uncover the true potential of this extensive tin field.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Lincoln Minerals Identifies Multiple Yallunda Project Uranium Anomalies

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THE DRILL SERGEANT: Lincoln Minerals (ASX: LML) has detected multiple uranium anomalies at the company’s Yallunda uranium project located on the Eyre Peninsula, South Australia.

Lincoln Minerals recently carried out a sampling program across Exploration Tenements EL6648, EL5922, and EL6024 on the project that delivered promising assay results, highlighted by the uranium anomalies, which it considers to confirm the project’s potential for future discovery.

“Initial results from our assaying program at Yallunda are very encouraging, highlighting multiple uranium anomalies and confirming contact between the Moody Suite granites and the Hutchison Group metasediments,” Lincoln Minerals CEO Jonathon Trewartha said in the company’s ASX announcement.

“In particular, soil sample YD38 has highlighted a uranium-vanadium-molybdenum anomaly, and these are characteristic of redox-controlled uranium mineralisation, therefore providing a further follow up target.”

Soil sample YD38 exhibited notable multi-element anomalies, including:
• Uranium: 11.5ppm
• Vanadium: 380ppm
• Molybdenum: 36ppm

“We are planning a more comprehensive exploration program at Yallunda to commence in the second half of 2025 to map key lithological boundaries, undertake further geochemical sampling as well as geophysical surveys which will help us define potential mineralised zones,” Trewartha continued

“South Australia holds significant uranium resources and existing mining operations for uranium, and we look forward to providing updates on our work at Yallunda.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Podium Minerals Reports Parks Reef Copper-Gold Zone Resource

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THE DRILL SERGEANT: Podium Minerals (ASX: POD) released a Mineral Resource Estimate (MRE) from within the company’s 100 per cent-owned Parks Reef project in Western Australia.

Podium Minerals reported the new MRE for the copper-gold zone of mineralisation at Parks Reef, which is an additional zone to the existing platinum group metal (PGM) mineralised zone (PGM Zone).

The company said the MRE for the additional zone of copper-gold mineralisation expands the scale of Parks Reef, enhancing project optionality, and increasing the Podium Basket of payable metals.

Parks Reef now comprises two distinct and contiguous mineralised zones:

– Existing PGM Zone2:
MRE containing 7.6 million ounces 5E PGM,103,000 tonnes copper, 143,000 tonnes nickel and 27,000 tonnes cobalt.

– Additional Copper-Gold Zone:
Inferred MRE comprising 140,000 tonnes copper, 260,000 ounces gold, plus 60,000 tonnes nickel and 11,000 tonnes cobalt.

“The delineation of the substantial copper and gold mineralisation immediately above the hanging wall of the existing PGM and base metal horizon at Parks Reef is further demonstration of this deposit’s strategic value and ability to continue to surprise to the upside,” Podium Minerals executive chairman Rod Baxter said in the company’s ASX announcement.

“While geologically separate from the PGM reef, the additional copper-gold Resource substantially increases the Podium Basket price by 21 per cent at current spot prices, enhances optionality from a development perspective, and provides another strategic lever for us to consider as we progress the Parks Reef PGM Project.”

Baxter went on to explain the company has commenced a second phase of PGM flotation test work on samples sourced from Parks Reef in its December 2024 metallurgical drilling program.

This second phase of work is ongoing and is focussing on refining and optimising our flotation and waste rejection steps in the concentrator circuit,” he said.

“The work continues to further our understanding of the characteristics of Parks Reef ore as well as the flotation behaviour of the material, allowing us to deliver ongoing improvements in PGM recoveries as part of the test work program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Delta Lithium Confirms Mt Ida Gold Spin-Out

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THE BOURSE WHISPERER: Delta Lithium (ASX: DLI) confirmed what market watchers have been expecting being that the company intends spinning out its Mt Ida gold asset into a new entity, Ballard Mining Limited.

Delta Lithium is carrying out the demerger with the aim of unlocking the value of the Mt Ida gold asset for its shareholders and to separate its gold and lithium assets into two distinct companies.

The new company will be led by well-qualified Board and management, including former De Grey chairman Simon Lill as non-executive chairman, Stuart Mathews as non-executive director, Paul Brennan as managing director and Tim Manners as finance director.

Delta’s current managing director, James Croser, will join the Board of Ballard as a non-executive director to ensure a smooth transition of the Mt Ida asset into the new standalone entity.

 

WATCH AS DELTA MANAGING DIRECTOR JAMES CROSER EXPLAINS THE DEMERGER TO WALLY GRAHAM AT THE RECENT RIU SYDNEY RESOURCES ROUNDUP

 

Delta considers the demerger of importance as it enables the company to continue focusing on its primary business, being the exploration and development of its lithium assets at the Mt Ida project and the Yinnetharra lithium project.

“Delta has been working diligently towards this outcome for some time, and we are delighted to be finally able to announce these details of the Demerger and Ballard IPO,” Delta Lithium managing director James Croser said in the company’s ASX announcement.

“Re-setting the exciting and prospective Mt Ida Gold Asset into Ballard, a pure new gold company, at such an opportune time in the gold price cycle best positions Ballard to launch into early success, underpinned by a strong foundation of 1.1 million ounces gold and a new dedicated and specialised management team.

“Momentum is crucial to a new listing and the pricing of the Gold Asset is compelling with significant potential to create investor returns and shareholder value.

“I encourage all Delta shareholders and members of the gold investment community alike to consider carefully the prospectus information when released.

“We look forward to welcoming the new shareholders of Ballard.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

 

Saturn Metals Drilling Results Widen Second Major Gold Trend

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported on recent drilling activity within the company’s 1,000 square kilometres regional land package at the Apollo Hill gold project in the Leonora region of Western Australia.

Saturn Metals completed regional Aircore (AC) drilling on the Aquarius prospect, or to be more precise, the Aquarius West prospect, returning:

AHAC2616
12 metres at 0.72 grams per tonne gold from 40m, including 4m at 1.57g/t gold from 44m;

AHAC2606
8m at 0.35g/t gold from 56m; and

AHAC2574
6m at 0.25g/t gold from 84m, including 3m at 0.41g/t gold from 84m.

The company said the results, together with previous AC drill results and a review of historical drilling information from the adjoining, more recently pegged, Exploration Licence (E39/2439), have opened a new exploration opportunity outside the 2.03 million ounces Apollo Hill deposit.

“Results from our ongoing regional exploration programs continue to build an exciting picture of the prospectivity and discovery potential within our broader land package in the world-class Leonora gold district,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“Saturn’s new drill results and data compiled from historic drilling by a major resource company, Sumitomo, have further highlighted the significant potential of the emerging Aquarius Trend.

“Aquarius boasts noteworthy drill results and encompasses 26.5 kilometres of confirmed gold strike in drilling.

“Aquarius has the potential to become a second gold camp located just 30km from our 2.03Moz Apollo Hill Gold Resource.

“We look forward to following up on this exciting regional opportunity with targeted exploration in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Encounter Resources Reports Aileron Inferred Niobium Resource

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported an initial Inferred Niobium Mineral Resource Estimate (MRE) at the company’s Aileron project in the West Arunta region of Western Australia.

Encounter Resources declared the independent JORC 2012 compliant Inferred Niobium Mineral Resource defined at Aileron of 19.2 million tonnes at 1.74 per cent niobium was estimated from 2024 exploration drilling.

The company has commenced RC drilling with the aim of extending and improving the current definition of high-grade mineralisation.

Encounter believes potential exists for near-term MRE growth from ongoing infill RC and extensional aircore drilling across its tenements.

“Our 2024 wide-spaced exploration drilling has outlined what may become one of the world’s most significant undeveloped niobium resources,” Encounter Resources executive chairman Will Robinson said in the company’s ASX announcement.

“This early success highlights the exceptional geological potential of the Aileron project and the broader West Arunta region.

“This is only the beginning.

“The strike-extensive carbonatite systems of the West Arunta represent an unusually mineralised suite of intrusions, and Encounter is committed to unlocking their full potential through a focused and systematic exploration program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Ausgold Reveals Broad Gold Zones at Regional KPG Prospects

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THE DRILL SERGEANT: Ausgold (ASX: AUC) has widened the gold potential at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold reported that a recent Reverse Circulation (RC) drilling campaign at the KGP and surrounding 3,500 square kilometres tenement position that had been undertaken with three key objectives:

1) Close-spaced drilling to de-risk areas within the existing KGP mineral resource which are expected to comprise mining inventory in the early years of project operations;

2) Add to the existing resources at the KGP; and

3) Generate new gold mineralisation potential in the regional prospects surrounding the KGP.

The campaign consisted of 32 Reverse Circulation (RC) holes drilled across four key regional prospects along the Stanley Thrust – Zinger, Stanley Hill, Moulyinning and McDougalls.

“This drilling to establish the potential for regional satellite deposits represents the last piece of the puzzle in our current exploration campaign, with these assays from key prospects along the Stanley Thrust indicating an exciting opportunity to define a significant gold district surrounding the Katanning Gold Project,” Ausgold executive chairman John Dorward said in the company’s ASX announcement.

“The earlier phases of this drilling campaign – which comprised close-spaced drilling to increase confidence in the existing Resource and exploration drilling for Resource extensions – also returned positive results, further strengthening the robustness of this leading development project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

NSW Resources Minister Highlights Industry Partnerships at RIU Resources Roundup

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THE CONFERENCE CALLER: Delegates arriving early for Day Three of the 2025 RIU Resources Roundup were treated to a strident presentation by the New South Wales government.

The morning’s opening address was given by The Hon Courtney Houssos MLC the NSW Minister for Finance, Minister for Domestic Manufacturing and Government Procurement and Minister for Natural Resources.

During her presentation, Houssos covered a gambit of industry issues, including the achievements of the state’s geological survey that is celebrating its 150th birthday this year.

The main issue of Houssos’ address, focused on how the state Labor government is working alongside the industry for the benefit of all parties.

“The New South Wales government is partnering with industry to be able to provide and foster a stronger industry,” Houssos declared.

“Obviously we are meeting on the back of a pretty significant federal election result that happened on the weekend and I think for the mining industry in particular it’s a really strong message and it is a great opportunity for us to be able to see a federal government re-elected that put – particularly critical minerals mining at the heart of their campaign.

“We see this excitement and enthusiasm and understanding from the federal government about the importance of mining to our state, but also for the future opportunities.”

Houssos reflected on her time in the job, having been appointed Resources Minister just two years ago.

“We have done a lot over the last two years to really be able to – like I said – partner with industry and show that we are here and want to provide a stable investment environment,” she said.

“We understand the opportunities in mining. We understand the important role that government plays in providing that stable investment environment.

 

“If you are looking for opportunities to invest (in NSW) I strongly encourage you to take another look here in New South Wales.”

Houssos highlighted the NSW government’s stated priorities in regard to the mining of critical minerals in the state.

The state has implemented a critical minerals and high-tech metals exploration program that provides grants over the next two years.

The program is designed to co-fund up to $250,000 with industry participants enabling them to undertake drilling, carry out geophysics and geochemistry.

“These grants are designed to be partnering with at that key point in the exploration program,” Houssos explained.

“We believe this co-investment will, hopefully, allow under-explored areas to unlock those opportunities…to minimise those inherent risks that we see in greenfield operation and exploration.”

Houssos reiterated what she described as being a further key element of the government’s critical minerals and high-tech metals strategy – its Royalties Deferment Scheme.

“This is a $250 million program that is designed to partner with industry…at the crucial point when capital and financial squeeze is on,” she continued.

“We’re going to take a step back, allowing you the space to unlock that capital to get the projects off the ground, to really get them up and moving.

“I am the Finance Minister as well, so we are going to make sure you actually do pay us back eventually, but we see this as a crucial part.

“We know that these are risky propositions.

“That there can be crucial points where we can be freeing up capital allowing you to make those final investment decisions.”

This scheme will apply to projects that will reach the production phase between July 1 2025 and June 30 2030.

 

Astral Resources Increases Spargoville MRE to 1.76M Ounces

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THE DRILL SERGEANT: Astral Resources (ASX: AAR) gave Day Two punters at the 2025 RIU Resources Roundup by reporting an update to the Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Spargoville gold project near Kalgoorlie in Western Australia.

Astral Resources acquired the project via its recent takeover of Maximus Resources.

The restated JORC 2012 MRE has come in at 3 million tonnes at 1.4 grams per tonne gold for 139,000 ounces of contained gold.

“With compulsory acquisition of the outstanding shares in Maximus having now been completed, we considered that it was important to set our own baseline for the recently acquired Mineral Resources at the Spargoville gold project,” Astral Resources managing director Marc Ducler said in the company’s ASX announcement.

“Astral’s standard approach when testing the Mineral Resources for reasonable prospects for economic extraction (RPEE) includes a first step of regularising the block model, which is the process of varying the size of the block model shapes to approximate the size of the earth moving machinery likely to be used in open pit mining.

“This serves to more accurately reflect the amount of dilution likely to be experienced during open pit mining and provides a good base for the subsequent optimisations used to identify the potentially economic portion of the mineralisation models.

“Today’s update reflects this process of regularisation as well as the application of the latest revenue and cost data for the pit optimisations derived from contractor quotes obtained for the upcoming Mandilla PFS.

“The downward revision in contained metal is mostly attributable to the impact of dilution resulting from increasing the block dimensions to 4mE x 5mN x 5mRL and application of the Astral economic constraints.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Axel REE Continues Strong Gallium and REE Intercepts at Caladao

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THE DRILL SERGEANT: Axel REE (ASX: AXL) reported further gallium and rare earth elements (REE) assays from the company’s Caladão project in the Lithium Valley, Minas Gerais in Brazil.

Axel REE has completed a total of 417 holes for 6,182 metres of drilling to date.

The company said the results have continued to return high-grade and thick gallium and REE intercepts in the weathering profile from surface.

The recent batch of auger drill results included:

CLD AUG-232
15 metres at 60 grams per tonne gallium from surface; and

CLD-AUG-233
17m at 6,792ppm total rare earth oxides (TREO) from surface.

“The continuation of thick and high-grade gallium and REE intercepts from auger drilling is showing that mineralisation is also open at depth, with the potential for expansion following further deeper drilling,” Axel REE managing director Dr Fernando Tallarico said in the company’s ASX announcement.

“The next steps include defining a maiden gallium and REE Resource Estimate with SRK.

“In parallel, selected samples of mineralised gallium and REE assays have arrived at ANSTO with the metallurgical program progressing at their facility in Sydney, Australia.

“Auger drilling will continue in Caladão Area B and is also ongoing at our Caldas project at the world-class Poços de Caldas Alkaline Complex, to the south of the State of Minas Gerais.

“We will continue to keep our shareholders informed of our progress on these different fronts.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE