Will DevEx deliver a trifecta for Tim Goyder?

Cashed-up explorer DevEx Resources (ASX:DEV) is having a red-hot go in coming weeks and months at completing a trifecta for exploration enthusiast Tim Goyder (reports Stockhead).
11th September 2020
Resources Rising Stars

Cashed-up explorer DevEx Resources (ASX:DEV) is having a red-hot go in coming weeks and months at completing a trifecta for exploration enthusiast Tim Goyder (reports Stockhead).

Goyder – a country boy from WA’s southwest who turned a love of prospecting into a since sold major drilling company business based in Kalgoorlie – is DevEx’s chairman and 19 per cent shareholder.

To complete a trifecta for Goyder, DevEx will need to notch up a major discovery in drilling programs at its gold and gold-copper projects in NSW’s Lachlan Fold Belt (LFB), or at its nickel-copper-platinum group elements (PGE) ground in WA’s Julimar region.

Goyder’s stable includes Chalice Gold Mines (ASX:CHN) and Liontown Resources (ASX:LTR).

Chalice made the Julimar PGE-nickel-copper discovery on Perth’s doorstep earlier this year, and Liontown is growing its Kathleen Valley lithium project near Leinster in WA in to a world-scale deposit of the battery material.

Goyder owns 12 per cent of the $420m Chalice ($50m) and 18 per cent of the $256m Liontown ($46m).

Liontown is also exploring ground to the north of Julimar while plotting its move into production at Kathleen Valley when the lithium market inevitably takes off again.

DevEx — trading at 21.5c after an against-the-trend 5 per cent rise in last Friday’s market shakedown — is the odd one in the Goyder stable.

But as mentioned earlier it, it has set out to complete a trifecta of discoveries for the stable.

First up, drilling is underway at DevEx’s Main Ridge gold prospect in NSW, part of its broader Basin Creek project area.

A second drilling rig has been added to the campaign and first assay results are likely in the next three to four weeks.

DevEx reckons it is on to a potentially large epithermal or porphyry gold system.

Main Ridge is a 3.5km-long gold-in-soil anomaly where previous surface rock chip sampling returned grades of up to 8 grams of gold a tonne.

Read more at https://stockhead.com.au/resources/barry-fitzgerald-will-devex-deliver-a-trifecta-for-tim-goyder/

Subscribe to the RRS Weekly Wrap

© 2020 Resources Rising Stars All Rights Reserved