Tag: ASX small cap

Red Mountain to start gold drilling as it looks to acquire rare earths project

Red Mountain to start gold drilling as it looks to acquire rare earths project

After completing the required heritage clearance survey, and securing a reverse circulation (RC) drill rig for its maiden drill program at its Mt Maitland high-grade gold project in Western Australia, Red Mountain Mining Limited (ASX: RMX) is set to start drilling. The drilling program is planned for 18 holes for approximately 1300m and is scheduled to commence in the first week of November. Historical mining delivered an average production grade of 19 g/t gold and the company expects there could be early stage share price catalysts on the horizon should the program go well. RMX’s project is in close proximity to the $1.1b Westgold Resources Fortunum Gold Mine and its Bluebird Gold Mine to the south. It is also near...

Titan divests assets to focus on flagship Ecuadorian gold project

Titan divests assets to focus on flagship Ecuadorian gold project

Titan Minerals Ltd (ASX:TTM) this week came to agreement to divest its non-core assets in Peru. In doing so, the company is now freed up to focus on its key Ecuadorian assets, including the development of its flagship Dynasty Gold Project and the Copper Duke Project in Ecuador. Dynasty is an advanced stage exploration project located in the Loja Province of southern Ecuador currently hosting a 2.1Moz Au foreign resource estimate averaging 4.5g/t gold reported in compliance with Canadian NI 43-101 standards. Titan reported assay results in July for diamond drilling completed at the Dynasty Gold Project that further support an emerging large-scale gold system and extend known mineralisation that remains open in multiple directions and at depth. The commencement...

Pursuit Minerals chases Arizona’s alluvial gold

Pursuit Minerals chases Arizona’s alluvial gold

China’s latest sanctions against the US are the latest factors keeping the gold price at near record highs – above $2,000/ounce. The strength in gold is widely expected to continue given the ongoing uncertainty around the longer-term economic impacts of the COVID-19 pandemic, the large government stimulus packages, uncertainty in equity markets, and negative real yields in much of the developed world. Given that backdrop, some forecasters are now anticipating a rise to $3,000/ounce or more. While gold’s rise has been well publicised, the recent strength in silver prices has been largely overshadowed. Silver gained 35% in July and has continued its strength into August. Relative to historical levels, silver remains cheap compared to gold and looks due to catch up....

Charlie-1 looms as potential company maker for 88 Energy

Charlie-1 looms as potential company maker for 88 Energy

Charlie-1 looms as potential company maker for 88 Energy Written by Trevor Hoey ALASKAN focused oil and gas group, 88 Energy Ltd (ASX:88E) provided a further update on Monday regarding the progress of the group’s Charlie-1 appraisal well on the North Slope of Alaska. With the rig mobilised and drilling to start this weekend there is the potential for near-term market moving news. 88 Energy has the support of Premier Oil Plc which sees the company fully carried up to US$23 million while still maintaining a 30% working interest. Charlie-1 will test multiple stacked targets in the March quarter assessed at 480 million barrels net to 88E. This will see the group step-out to Malguk-1, an historic discovery well drilled...