- CPN is on the cusp of a potential “significant” nickel-copper-PGE discovery
- CHN strikes a new zone of nickel-copper-PGE sulphides just 10 km from Gonneville
- Iron Ore plays GEN signs new deal with Anglo American
Here are the biggest early-trade resource gainers on Thursday, July 7.
CPN is riding big waves this morning after releasing assay results from five reverse circulation holes and two RC pre-collars at the Serradella prospect as part of the Yarawindah Brook PGE-nickel-cobalt project.
The miner is next door to market darling Chalice Mining (ASX:CHN), whose world-class palladium-nickel-copper discovery at Julimar in Washington State has revealed a hidden secret of critical minerals perfectly timed to capitalize on the green energy transition.
According to CPN, these early results demonstrate the potential for a “significant” nickel-copper-PGE deposit with hits up to 91m at 0.48g/t 3E from a 350m exit hole.
This is the largest metal accumulation zone intersected to date.
Caspin managing director Greg Miles said a vector to the most prospective parts of the intrusion was what the EMP hope was looking for, and these few results seem to provide that critical information.
“There are still many results to come, especially in areas that we think are more forward-looking,” he says.
“But we believe that these few results already allow us to focus on the next round of drilling.”
Chalice’s Gonneville is now known as Australia’s largest platinum group element discovery AND the world’s largest nickel sulphide discovery in 20 years.
The company intersected a new zone of nickel-copper-PGE sulphides during an initial drill program on the Dampier target, just 10 km from this large Gonneville deposit.
According to CHN, this is the first significant indication of orthomagmatic sulphide mineralization outside of the Gonneville deposit itself.
It is therefore considered a very exciting result, which demonstrates the highly prospective nature of the Julimar complex for additional nickel-copper-PGE discoveries.
CHN says several nearby targets along the strike are now prioritized for immediate drilling under existing approvals.
African iron ore game GEN is making headlines for striking a new royalty deal with big boy Anglo American.
The British mining company will receive up to 1% royalties on revenues in return for an immediate cash payment of $10 million.
In addition, Genmin has granted Anglo American an exclusive right to negotiate and agree terms for project financing of up to $75 million and up to 100% of the drawdown from its Baniaka iron ore project. in Central Africa.
GEN CEO Joe Ariti said the company sees Anglo American as an ideal potential partner to achieve its goal of pioneering iron ore production in Gabon in a sustainable way.
At the end of the March quarter, the approximately $60.91 million market capitalization company had $9.05 million in cash in the bank.
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The ASX GBR gold game takes off this morning, thanks to a stunning 5.9m hit at 39.37 g/t gold at Mulga Bill in his Side Well Gold project.
GBR managing director Andrew Paterson said the “sensational” result comes in a shallower part of Mulga Bill, on the same section as the company’s first high-grade intersection early last year.
“The significance of this result is that it supports our geological interpretation in this area, which has changed significantly since the first holes were drilled,” he says.
“It is also significant that the hole intersected a thicker zone of very high grade mineralization compared to the narrower intersections reported in previous diamond holes.”
Pending results include 21 holes AC from Mulga Bill and 95 holes AC from the Whiteheads Gold project.
At the end of the March quarter, GBR had $2.12 million in cash in the bank.
ADD shares have a good wind this morning, and it could be somewhat related to the news that a ground gravity survey has been completed on the Kabanga Jirani and Luhuma nickel projects in Tanzania.
The survey identified a total of 32 discrete gravity targets for a length of approximately 55km – significant enough as Executive Director David Riekie says without the survey these targets would have remained undiscovered.
“The measure of success of this gravity program is simply a reflection of the large number of high quality targets that have been generated,” he says.
“We have always maintained that we are in the right prospective geological setting for new nickel sulphide discoveries.”
The approximately $10.6 million market capitalization company had $1.34 million in cash in the bank at the end of the March quarter.