30th January 2026 Australasia Newsletter
30th January 2026 Australasia Newsletter
Financings
Benz raises $75M
Gold explorer Benz Mining Corp (ASX: BNZ) has received firm commitments for a placement of 32.3 million new fully paid CHESS depositary interests via a bought deal at an issue price of A$2.32 per CDI to raise A$75 million. The company said it received strong demand from two leading, high-quality offshore institutional investors, including a leading global fund manager which cornerstoned the placement. The funds will be used to accelerate exploration at Glenburgh in WA.
Ballard raises $61M
Ballard Mining (ASX: BM1) has secured firm commitments to raise A$61 million via a single tranche placement to institutional and sophisticated investors at A80c per share, a 14% discount to the last closing price. The company said the placement was extremely well supported by existing shareholders with strong demand from new resource-focused institutional investors, particularly in North America, Europe and Australia. Ballard is now funded to a final investment decision at the Mt Ida gold project in WA.
Tungsten raises $53M
Tungsten Mining (ASX: TGN) has received firm commitments to raise A$53 million via the issue of approximately 278.9 million new shares to sophisticated, institutional and professional investors. Bids were significantly scaled following strong demand from leading Australian and international institutional investors, as well as existing shareholders. The A19c offer price represents a 15.6% discount to the last closing price. The funds will be used to studies and exploration at the Mt Mulgine project in WA.
Cyprium raises $41M
Cyprium Metals (ASX: CYM) announced a A$41 million capital raising, comprising a A$36 million institutional placement and a A$5 million entitlement offer. The placement price of A52c per share represented a 11.1% discount to the last traded priceThe placement was cornerstoned by the company’s largest shareholders Flat Footed and Tribeca, with Tribeca sub-underwriting the A$5 million entitlement offer. The proceeds will be used for studies and early works at the Nifty copper project and exploration.
Rua raises $33M
Rua Gold Inc (TSXV: RUA) has closed an upsized private placement of 22.7 shares for gross proceeds of C$25 million and concurrent upsized private placement of 7.2 million shares for gross proceeds of approximately C$8 million. The proceeds will be used for exploration and development activities on the company’s Reefton and Glamorgan projects in New Zealand.
Element 25 extends funding facility
Manganese developer Element 25 (ASX: E25) has extended an at-the-market subscription facility with Acuity Capital Investment Management for up to A$30 million of standby equity over the next 36 months. Use of the facility is at E25’s discretion and the company is able to raise capital via other methods.
LinQ raises $15M
LinQ Minerals (ASX: LNQ) has received firm commitments to raise A$15.4 million via a placement of 28 million shares to institutional, sophisticated and professional investors at A55c per share, a 14.7% discount to the last closing price. Participants in the placement will receive one free attaching option for every two new shares allocated under the offer, exercisable at A78c within two years. Proceeds will be used to accelerate the LinQ’s drilling program at the Gilmore gold-copper project in New South Wales.
Odyssey raises $9M
Odyssey Gold (ASX: ODY) has secured firm commitments from new and existing institutional and sophisticated investors to subscribe for 279.4 million shares at an issue price of A3.1c per share, an 11.4% discount, to raise gross proceeds of A$8.6 million. Directors of the company have subscribed for a further A$400,000 worth of shares. Cornerstone investor Tribeca Investment Partners has committed to subscribe for A$2.2 million and will own around 5.1% of the company. Odyssey will use the proceeds to advance its Tuckanarra gold project in WA.
Iron Ore Headlines
MinRes reports record iron ore production
Mineral Resources’ (ASX: MIN) Onslow Iron project in the Pilbara continued to ramp up, shipping 8.7Mt in the December quarter and 17.3Mt in the December half. Free-on-board costs were A$50/wmt for the quarter, with costs tracking towards the bottom end of FY26 guidance of A$54-59/wmt. The company’s lithium operations produced 138,000dmt. Sales were 143,000dmt at an average price of US$1094/dmt, up 29%. MinRes increased FY26 lithium guidance to 450,000-490,000dmt from 380,000-420,000dmt. Liquidity strengthened to more than A$1.4 billion and net debt reduced materially to circa A$4.9 billion.
MGX beats expectations
MGX Resources (ASX: MGX) reported December quarter iron ore sales of 798,000t, higher than the previous quarter, despite the suspension of mining at Koolan Island in WA following a rockfall in October. Production comprised 319,000t of high-grade fines and 479,000t of low-grade from the processing of stockpiles. Koolan Island generated cashflow of A$15 million. MGX is targeting to process and ship a further 1Mt of low-grade stockpiled material in the June 2026 half, which is expected to substantially reduce the previously estimated A$30-40 million net cost of the site’s post-rockfall activities in FY26.
Gold Headlines
Record quarter for revamped Genesis
Genesis Minerals (ASX: GMD) reported record quarterly gold production of 74,261oz at AISC of A$2635/oz from its WA Goldfields operations. The company is tracking ahead of FY26 production guidance of 260,000-290,000oz at AISC of A$2500-2700/oz. Genesis’ half-year unaudited net profit after tax for the half was A$235-245 million. December quarter gold sales of 71,346oz at A$6057/oz generated revenue of A$432.2 million. Genesis had cash and equivalents of A$403.6 million at the end of December representing cash build of A$216.5 million before repaying A$100 million of debt and investing A$76.2 million in growth and exploration. The company also announced that managing director Raleigh Finlayson would become executive chair and chief operating officer Matthew Nixon would become CEO. Non-executive chair Tony Kiernan remains on the board as lead independent director. Executive director Duncan Coutts is transitioning to executive director, operations.
Ora Banda approves expansion spend
Ora Banda Mining (ASX: OBM) has approved several growth investments. The company will spent A$10 million to progress the 3Mtpa new processing plant from DFS to front-end engineering and design, A$30 million in pre-production capital to commence open pit mining works at Waihi, 3km from the Davyhurst processing plant, and A$23 million to upgrade the accommodation capacity, with the expansion of the existing Davyhurst camp and construction of a new camp at Siberia. Davyhurst produced a record 32,036oz of gold in the December quarter, up 5%, with 31,247oz of gold sold. AISC rose by 22% to A$3505/oz due to the higher tonnage processed via third party milling, resulting in a circa A$360/oz increase in third party processing costs compared to prior quarter.
K92 releases 2026 guidance
K92 Mining Inc (TSX: KNT) is forecasting 2026 production of 190,000-225,000oz of AuEq, up from the record 174,134oz AuEq produced in 2025. Cash costs, net of by-product credits, are forecast to be US$710-770/oz with AISC of US$1250-1350/oz. On a co-product basis, cash costs are guided at US$980-1040/oz AuEq and AISC of US$1480-1580/oz AuEq. The company has a record exploration budget of US$31-35 million and growth capital of US$100-108 million.
St Barbara granted mining lease extension
The mining lease for St Barbara’s (ASX: SBM) New Simberi gold project in Papua New Guinea has been formally extended until 2038, which was a condition of transactions announced last month with Lingbao Gold Group Company and Kumul Minerals Holdings. Simberi produced 9057oz of gold at AISC of A$6518/oz in the December quarter. Gold sales for the quarter totalled 10,169oz at an average realised price of A$6404/oz. Cashflow contribution from the Simberi operations for the quarter was A$13 million.
Brightstar releases updated DFS
Brightstar Resources (ASX: BTR) released an updated DFS for its Menzies and Laverton gold projects in WA, outlining pre-production capital costs of A$188 million for a 1.5Mtpa operation to recover 457,000oz of gold over six years. The study returned undiscounted pre-tax free cashflow of A$1 billion, an NPV8 of A$606 million and IRR of 74% at a base case of A$6000/oz. At A$7000/oz, undiscounted pre-tax free cashflow rises to A$1.4 billion, the NPV8 rises to A$911 million and the IRR increases to 106%.
Meeka boosts production
Meeka Metals (ASX: MEK) reported December quarter gold production of 9174oz, up 28%, at AISC of A$2365/oz from the Murchison gold project in WA. Production was at the upper end of guidance of 7000-10,000oz. Operating cashflow was A$23.9 million, up 91%, with net mine cashflow of A$4.1 million. Cash and gold increased to A$67.4 million at the end of December from A$59.3 million three months earlier.
Emerald updates Dingo Range
Emerald Resources (ASX: EMR) has updated the resource for its Dingo Range gold project in WA to 40.9Mt at 1.1g/t gold for 1.41Moz, including a higher grade component of 24.2Mt at 1.4g/t gold for 1.12Moz. The resource remains open at depth and along strike. A maiden ore reserve will follow and underpin the finalisation of studies.
Copper Headlines
Aeris on track for guidance
Aeris Resources (ASX: AIS) reported December group copper equivalent production of 10,000t for the quarter at AISC of A$4.21/lb of CuEq. Production comprised 5000t of copper, 12,900oz of gold and 50,300oz of silver from the Tritton copper mine in NSW and the Cracow gold mine in Queensland. Cash and receivables at the end of the quarter more than doubled to A$106.4 million, after the company raised A$101.6 million and repaid A$40 million in debt.
AIC meets guidance
AIC Mines’ (ASX: A1M) Eloise mine in Queensland produced 3202t of copper and 1501oz of gold in concentrate in the December quarter at AISC of A$4.87/lb (US$3.26/lb) and all-in costs of A$5.22/lb (US$3.50/lb), in line with guidance. Eloise generated A$11.5 million in net mine cashflow, after capital investment of A$14.1 million, despite weather-related disruptions to concentrate sales. Eloise ended the quarter with a concentrate stockpile containing 464t of copper, with a notional value of approximately A$8.7 million, based on the December 31 spot price of A$18,682/t. AIC had A$44.9 million in cash at bank at the end of December. The company’s US$40 million prepayment facility was undrawn at the end of the quarter but expected to be fully drawn during H2 FY26.
Develop’s ramp-up on track
Develop’s (ASX: DVP) Woodlawn copper-zinc mine in NSW produced 3568t of copper and 4168t of zinc, up 36% and 43% quarter-on-quarter, respectively. A record 59,000t of ore was processed in the month of December, which puts Woodlawn on track to reach nameplate capacity of 850,000tpa in the March quarter. Quarterly revenue was up 98.5% to A$39.1 million from 9472t of concentrate sales. The company had cash of A$179.9 million at the end of December.
Celsius releases DFS
Celsius Resources (ASX: CLA) released a definitive feasibility study for the Maalinao-Caigutan-Biyog (MCB) project in the Philippines. The project has a post-tax NPV8 of US$771 million and an IRR of 24%, based on long range copper and gold prices of US$4.30/lb of copper and US$3000/oz of gold for first the nine years, then US$7/lb of copper and US$4500/oz of gold for the succeeding years of the 35-year mine life. At current spot prices of US$6/lb of copper and US$4500/oz of gold, the NPV increases to US$1.2 billion and the IRR to 34%. Capital costs are US$276 million. Total production is expected to be 1.23Blb of copper and 507,00oz of gold, including 542Mlb of copper and 319,000oz of gold in the first 10 years. Average C1 cash costs (net of by-product credits) are forecast at US$41c/lb of copper over the first 10 years.
Carnaby increases resources
Carnaby Resources (ASX: CNB) has updated the resource for its Greater Duchess copper project in Queensland to 29.2Mt at 1.3% copper and 0.2g/t gold, or 1.5% CuEq, for 380,300t of copper and 230,200oz of gold, or 441,000t of CuEq, a 10% increase. Indicated resources are up 49% to 17Mt. A PFS is due to be released this quarter.
True North updates Cloncurry resource
True North Copper (ASX: TNC) has updated the resource for the Wallace North deposit, part of the Cloncurry project in Queensland. The indicated and inferred resource stands at 2Mt at 1.28% copper and 0.77g/t gold for 25,000t of copper and 50,000oz of gold, representing a 12% increase in tonnage, 9% increase in contained copper and 11% increase in contained gold.
Critical Minerals Headlines
Iluka flags impairments
Iluka Resources (ASX: ILU) announced that its 2025 profit and loss statement was expected to include exceptional charges of around A$565 million pre-tax relating to an impairment of the carrying value of the mineral sands business unit and recognition of a net realisable value adjustment to inventory. Iluka expects the underlying mineral sands EBITDA to be around A$300 million, before the exceptional charges. Full-year zircon, rutile and synthetic rutile production was 559,000t, exceeding Iluka’s guidance. Full-year unit cash costs of production of A$1054/t was below guidance. The Q4 weighted average zircon sand price was US$1502/t, a reduction from Q3, reflecting softer prices for premium grade zircon in China. To date, Iluka has contracted 35,000t of zircon sand sales for Q1 2026 at prices consistent with Q4 2025. Total capital expenditure spent at the Eneabba rare earths refinery to the end of December was A$865 million. The company also reported an updated resource of 540Mt at 4.6% heavy minerals for 25Mt of contained HM for its WIM100 deposit in Victoria.
IGO lithium production rises
IGO (ASX: IGO) reported December quarter production of 352,000t of spodumene from the Greenbushes operation in WA. Spodumene sales were 328,000t at an average realised price of US$850/t, up 16%. Greenbushes’ EBITDA margin improved to 64% from 57%. First ore from the CGP3 expansion was processed on December 18. Kwinana lithium hydroxide production declined by 24% to 2120t due to maintenance outages, equivalent to 35% of nameplate capacity. Group underlying EBITDA was A$30 million, while positive cashflow from operating activities was A$13 million, with underlying free cashflow A$13 million. The company was in a net cash position of A$299 million at December 31.
Liontown reaches inflection point
Liontown Resources (ASX: LTR) has reported higher production and lower costs at its Kathleen Valley lithium mine in WA. Concentrate production increased 21% to 105,342dmt at an average grade of 5.1% lithium oxide, with underground ore mined up 37% to 308,000t. Unit operating costs dropped 17% to A$910/dmt, while AISC improved 22% to A$1059/dmt. Revenue was up 91% to A$130 million from six parcels sold totalling 112,122dmt. Operations were cashflow neutral. The company had A$390 million in cash at quarter-end with 13,800dmt saleable inventory on hand. LG Energy Solution has elected to convert its entire US$250 million convertible note holding, as well as accrued interest, into an estimated 239 million shares in Liontown, or about 8% of the company.
Boss lowers cost guidance
Boss Energy (ASX: BOE) has reported an 18% increase in drummed uranium production to 456,000 pounds from the Honeymoon operation in South Australia. The company remains on track for FY26 production guidance of 1.6Mlb. C1 costs were A$30/lb, down 12%. The company lowered its C1 cost guidance to A$36-40/lb from A$41-45/lb and its AISC to A$60-64/lb from A$64-70/lb. The average realised price for the quarter was A$112/lb or US$74/lb. Boss had A$208 million of cash and liquid assets at the end of December, including cash on hand of A$53 million and 1.62Mlb of drummed inventory.
Metals X’s Renison near record
Metals X (ASX: MLX) reported production 3319t of tin-in-concentrate for the December quarter, just 10t below the all-time quarterly record at its 50%-owned Renison mine in Tasmania. C1 costs dropped by 28% to A$16,598/t. December 2025 tin production of 1318t was the highest monthly production on record, supported by higher mined grades, improved plant stability and stronger metallurgical performance. Renison shipped 3375t for the quarter. • Imputed EBITDA for the quarter increased to A$112.5 million on a 100% basis, more than double the prior quarter, with EBITDA margins rising to approximately 58% on an imputed basis.
Heavy Minerals in tailings retreatment deal
Heavy Minerals (ASX: HVY) and Hillgrove Resources (ASX: HGO) have entered into a binding tailings processing agreement for the extraction and sale of garnet from the Hillgrove’s Kanmantoo process tailings and tailings storage facility in South Australia. Hillgrove will receive 15% gross revenue payments from the sale of in specification garnet during mine operations (reducing to 5% post-mine closure) plus A$25/t for out of specification garnet used by Heavy Minerals. On initial production, Heavy will pay a minimum of A$500,000 annually, increasing to A$1 million annually when the processing plant is upgraded to a technical processing capacity of 100,000tpa.
Maiden scandium resource for Mount Ridley
Mount Ridley Mines (ASX: MRD) has reported a maiden scandium resource for its namesake project in southern WA. The inferred resource is 367.98Mt at 57.3ppm scandium (87.9ppm scandium oxide) for 18,855t of contained scandium metal and 28,920t of contained scandium oxide, reported at a 25ppm cut-off. The project also hosts gallium and rare earths.
Gold Drilling
Catalyst Metals (ASX: CYL)
Reported the results of late 2025 grade control drilling at the 81,000oz K2 mine, which had been untouched since the 1990s and more recently tied up in legal action. Results included 10m at 47.8g/t gold; 11m at 14.8g/t gold; 13m at 10.5g/t gold; 17m at 10.6g/t gold; 17m at 9.3g/t gold; 9m at 12.4g/t gold; 12m at 14.1g/t gold; 6m at 22.9g/t gold; 10m at 10.5g/t gold; 13m at 8.1g/t gold; 4.3m at 17.7g/t gold; 4m at 14.6g/t gold; and 3m at 29.1g/t gold. The company will start production from the mine shortly.
Southern Cross Gold Consolidated (TSX: SXGC/ASX: SX2)
Announced results from four drillholes from the Rising Sun prospect at the Sunday Creek project in Victoria, which intersected 16 vein sets in across a plus-500 m mineralised corridor from 376-936m downhole, averaging 559m at 2.5g/t AuEq uncut. The hole returned six intervals greater than 20g/t AuEq, including three individual assays exceeding 100g/t gold. Highlights included 1.3m at 670.4g/t AuEq from 869.2m, the seventh highest intercept on the project, and the highest individual antimony assay to date at 0.16m at 65.9% antimony, plus 78.5g/t gold from 445.9 m. The true thickness of the mineralized intervals are interpreted to be approximately 50-65% of the sampled thickness for other reported holes.
Benz Mining Corp (ASX: BNZ)
Reported that an ultra-high-grade shallow lens was emerging at the Icon trend at Glenburgh in WA. Infill drilling returned 13m at 29g/t gold from 60m; 9m at 28g/t gold from 84m; and 17m at 11g/t gold from 55m. Icon drilling continued to demonstrate large-scale bulk mineralisation with 200m at 1g/t gold from 76m; 71m at 0.8g/t gold from 202m; 60m at 1g/t gold from 240m; and 53m at 1g/t gold from 424m.
Terra Metals (ASX: TM1)
Received the second batch of assays from the SW5 prospect at Dante in WA, which confirmed a major platinum group metal sulphide discovery, returning up to 52.97g/t platinum, palladium and gold (PGE3). Highlights included 14m at 6.71g/t PGE3 from 68m, including 3m at 27.78g/t PGE3 and 1m at 52.97g/t PGE3 within a broader intercept of 35m at 2.9g/t PGE3 from 48m. Mineralisation starts from near surface, and the hole was terminated at 102m depth, 138m short of its planned target depth, suggesting potential for further mineralised horizons at depth.
Horizon Minerals (ASX: HRZ)
New assays from the Burbanks gold project in WA returned 2m at 235.7g/t gold from 248.31m, including 1.16m at 396.62g/t gold from 248.31m; 5.08m at 2.13g/t gold from 258.1m; 0.32m at 5.14g/t gold from 342.12m; 0.52m at 5.25g/t gold from 302.34m; 2m at 3.16g/t gold from 224m, including 0.7m at 7.64g/t gold; 1m @ 6.29g/t gold from 167m; 4.5m at 2.55g/t gold from 287.5m; and 1.57m at 9.15g/t gold from 295.52m, including 0.27m at 23.97g/t gold.
Sunshine Metals (ASX: SHN)
The company reported further high-grade gold and silver results from Liontown in North Queensland, including 30m at 6.68g/t gold and 396g/t silver from 17m, including 3m at 52.12g/t gold and 2932g/t silver. The intercept included 1m over the range of 6000g/t silver. Other results included 24m at 7.08g/t gold and 305g/t silver from 14m, including 3m at 44.18g/t gold and 1946g/t silver; 20m at 5.62g/t gold and 310g/t silver from 8m, including 5m at 14.79g/t gold and 1164g/t silver.
Great Pacific Gold Corp (TSXV: GPAC)
Announced new results from the Wild Dog project in PNG. Drilling at the Sinivit Northern Sulphide Shoot intercepted 13.48m at 8.08g/t AuEq from 210.22m, including 3.78m at 10.89g/t AuEq, including 4.5m at 14.62g/t AuEq. A second diamond drill rig is scheduled to arrive on February 4.
Redcastle Resources (ASX: RC1)
Reported further grade control results from Redcastle Reef in WA, including 10m at 50.11g/t gold from 12m, including 1m at 48g/t gold; 1m at 133g/t gold from 15m; 1m at 311g/t gold from 19m; 21m at 6.42g/t gold from 8m, including 1m at 70.7g/t gold; 9m at 11.8g/t gold from 18m, including 1m at 77.3g/t gold; and 11m at 6.6g/t gold from 13m, including 1m at 26.8g/t gold, 1m at 19.9g/t gold and 1m at 17.5g/t gold.
GBM Resources (ASX: GBM)
Intersected high-grade mineralisation more than 100m outside of the 309 resource at the 1Moz Twin Hills project in Queensland. The hole returned 37m at 5g/t gold from 225m, including 1m at 77.25g/t gold and 3m at 29.96g/t gold.
BPM Minerals (ASX: BPM)
Reported assays from the maiden RC drilling program at the high‑grade Beachcomber prospect, part of the Forelands gold project in WA. Results included 9m at 7.77g/t gold from 75m, including 2m at 21.73g/t gold and 1m at 23.39g/t gold; 6m at 6.72g/t gold from 28m; 2m at 20.77g/t gold from 40m; 2m at 12.33g/t gold from 134m; and 1m at 17.24g/t gold from 131m.
Silver Drilling
Australian Gold and Copper (ASX: AGC)
The deepest hole at Achilles in NSW extended high-grade mineralisation from surface to over 360m down-dip and approximately 140m below the deepest hole used for the existing resource. New results included 11m at 424g/t (or 13.6oz/t) AgEq from 305m, including 3m at 1453g/t (46.7oz/t) AgEq; 20m at 280g/t (9oz/t) AgEq from 239m, including 3.4m at 627g/t (20oz/t) AgEq; and 10m at 169g/t (5.4oz/t) AgEq from 250m, including 1.7m at 607g/t (19.5oz/t) AgEq.
Broken Hill Mines (ASX: BHM)
Drilling at the Pinnacles mine in NSW returned 1.4m at 760g/t AgEq from 36.1m; 9.2m at 545g/t AgEq from 12m; 3.4m at 385g/t AgEq from 19m; 10.8m at 352g/t AgEq from 61.9m; 5m at 350g/t AgEq from 31.7m; and 11.5m at 315g/t AgEq from 30.7m. A resource update is due by mid-year.
Copper Drilling
Alma Metals (ASX: ALM)
Reported 620m at 0.25% copper from 9m, the longest mineralised intersection recorded to date at Briggs in Queensland. Another result of 30m at 0.9% copper from 35m is one of the highest-grade intersections recorded to date. The project is a joint venture with Canterbury Resources (ASX: CBY).
Loyal Metals (ASX: LLM)
Assays from the first two drillholes targeting the eastern wall of the Highway Reward open pit in WA have confirmed a large, thick, near-surface, high-grade copper-gold-silver mineralised zone with strong continuity across both holes. One hole returned 145m at 1.5% CuEq from 176m, including 17m at 3.15% CuEq, including 6m at 4.28% CuEq, while another returned 86m at 2.34% CuEq from 199m, including 14m at 4.35% CuEq, including 11m at 4.83% CuEq, including 4m at 8.69% CuEq.
Red Hill Minerals (ASX: RHI)
Reported the first results of its maiden diamond drilling program at the Anabama project in South Australia, an earn-in joint venture with Peel Mining (ASX: PEX). The first hole returned 20m at 0.6% copper, 0.2g/t gold and 3g/t silver from 313.1m, including 3.2m at 1% copper, 1g/t gold and 3.8 g/t silver from 313.6m; and 3.8m at 1.2% copper, 0.3g/t gold and 8.1g/t silver from 324.3m. Assays from the second hole are expected in March.
Cannindah Resources (ASX: CAE)
The first deep hole at Mt Cannindah’s Southern Porphyry target in Queensland returned 28m at 1.15% CuEq from 298m, ending in mineralisation. The hole is interpreted to have intersected the upper or outer halo of a high-grade gold-copper pencil porphyry system. The high-grade zone is hosted within a feldspar porphyry intrusive phase, a key indicator of fertile or productive porphyry systems.
Critical Minerals Drilling
Pacgold (ASX: PGO)
Assays from the final seven holes of the first-pass drilling program at the St George gold-antimony project in Queensland continued to define continuous structures carrying high-grade antimony including 1m at 12.8% antimony from 41m; and 3m at 1.6% antimony from 67m, including 1m at 4.4% antimony. Only 200m of strike was tested around the historical open pit mine, which remains open along strike and down-dip.
Delta Lithium (ASX: DLI)
Drilling at Mt Ida in WA returned new results of 34m at 1.86% lithium oxide from 251m; 30m at 1.88% lithium oxide from 206m; 31m at 1.84% lithium oxide from 196m; 21m at 2.07% lithium oxide from 189m; 27m at 1.56% lithium oxide from 232m; 26m at 1.31% lithium oxide from 221m; and 24m at 2% lithium oxide from 309m. Downstream testing of a Mt Ida mica concentrate to produce battery grade LCE has successfully generated a 99.8% lithium carbonate product.
Black Cat Syndicate (ASX: BC8)
Diamond drilling at the Mt Clement antimony project’s Taipan Lode returned 6.9m at 2.18% antimony, 6.04% lead and 45.91g/t silver from 130.2m, including 1.1m at 11.94% antimony, 28.71% lead and 163.45g/t silver; 4.2m at 1.92% antimony, 5.45% lead and 41g/t silver from 137.8m; 6.5m at 0.84% antimony, 1.23% lead and 8.02g/t silver from 143m; and 3.7m at 0.6% antimony, 1.23% lead and 18.64g/t silver from 166m.
Rimfire Pacific Mining (ASX: RIM)
First assays were received for aircore drilling conducted at the Murga exploration target at Fifield in NSW. Results included 21m at 204ppm scandium (313ppm scandium oxide) from 12m, including 5m at 280ppm scandium (429ppm scandium oxide); 24m at 160ppm scandium (245ppm scandium oxide) from 1m, including 6m at 270ppm scandium (414ppm scandium oxide); 38m at 114ppm scandium (175ppm scandium oxide) from 10m, including 4m at 153ppm scandium (235ppm scandium oxide); and 26m at 134ppm scandium (206ppm scandium oxide) from 12m, including 4m at 243ppm scandium (373ppm scandium oxide).
Kristie Batten
Kristie is an award-winning journalist with over 17 years of experience covering the mining industry. She is a regular contributor to a number of leading global mining publications and is a member of the steering committee of the Melbourne Mining Club.
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