News - Market Insights

A year into its ownership of the Henty gold mine, Catalyst Metals appears to be increasingly confident in its strategy to grow inventory, mine life and production rates, with a further string of high-grade intercepts reported ( MiningNews).

Drilling in the Darwin zone, at the deeper, southern end of the mine, has continued to define mineralisation beyond existing resources, headlined by a bonanza 1.5m at 79 grams per tonne from Darwin North. Of the 90 holes drilled recently, most intersected mineralisation, one third had intervals greater than 20gpt gold metres, and 17 exceeded 50gpt gold metres. Other assays from the recent drilling included 13.7m at 5.3gpt and 9.8 at 11gpt from Darwin North, and 12.5m at 15.5gpt and 8.9m at 24.9gpt from Darwin South. All intercepts were described as being true width.

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The surging iron ore price is fuelling renewed investor interest in junior iron ore stocks, in the process stoking speculation that Rio Tinto may bid for its little Pilbara neighbour CZR Resources (reports Stockhead).

CZR’s Robe Mesa project adjoins the operating Yarraloola mine of Rio Tinto, with only a tenement boundary separating them. Given that geology knows nothing about man’s legal fences, and that Rio and CZR therefore share the same deposit, there is growing talk that the mining giant will do the obvious thing to expand its operation by consuming CZR.

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The rush of junior miners to the ASX continues with Nordic Nickel looking to raise up to $12m to target Lapland’s mineral riches (reports The Australian).

The Perth-based outfit will be headed up by Todd Ross, former BNP Paribas managing director and head of Western Australia, along with resources veterans Marcello Cardaci and Robert Wrixon. Nordic will be targeting nickel sulphide deposits in the Central Lapland Greenstone Belt where it has a 100 per cent interest in the Pulju Nickel Project and can earn up to 75 per cent in the Maaninkijoki 3 Project.

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New World Resources says drilling at its Antler copper deposit in Arizona, has delivered ‘exceptional’ results (reports Stockhead).

Four holes were drilled as part of an ongoing resource-extension drilling program targeting the depth extensions of the Main Shoot. One of these four holes intersected 41.8m at 2.5% copper, 2.8% zinc, 0.8% lead, 37.1 g/t silver and 0.52 g/t gold from 875.9m (41.8 metres at 3.8% Cu-equivalent).

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RockTalk is a Stockhead video series featuring a roundtable of resources experts discussing a new macro topic each week.

RockTalk is a Stockhead video series featuring a roundtable of resources experts discussing a new macro topic each week. In this episode, host Peter Strachan takes at look at the current market interest in low carbon energy future, resulting in a recent focus on the uranium market. Populating the expert panel for this discussion are George Bauk, executive chairman at Valor Resources (ASX:VAL) and Brendan Bradley, managing director at DevEx Resources (ASX:DEV).

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Lithium major Pilbara Minerals has met production guidance for the March quarter, despite peak COVID-19 cases in Western Australia (reports MiningNews).

The company's Pilgangoora operation produced 81,431 dry metric tonnes of spodumene concentrate, within guidance of 75,000-90,000t. It was the lowest production of the 2022 financial year so far as the company fights the impacts of rising COVID-19 cases and reduced availability of staff and contractors. However, the figure beat Canaccord Genuity's forecast of 79,000t. Pilbara maintained full-year guidance of 340,000-380,000t, but warned that further COVID-19 impacts could see that figure being at the lower end of the range.

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A Montana District Court judge has made a decision in a case regarding a challenge against the mine operating permit for Sandfire Resources’ proposed Black Butte copper development (reports MiningNews).

Opponents of the project filed a legal complaint in 2020 and the case was heard last year. In a decision issued late last week, the judge granted the plaintiffs' motion for a summary judgement stating that the Montana Department of Environmental Quality (MT DEQ) violated the Montana Metal Mines Reclamation Act and Montana Environmental Policy Act in its analysis of the project. Each party now has 45 days to propose remedial measures to the judge, after which she will hand down her remedial actions.

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Shares in recent float Nimy Resources jumped after it reported a thick zone of nickel-copper mineralisation in a second diamond drill hole at its Mons project near Southern Cross (reports The West Australian).

The Simon Lill-chaired explorer announced on Wednesday it had intersected 438 metres of semi massive sulphides in a diamond hole at the Godley prospect. The hit follows a similar 275m zone intersected in its first hole at Godley last month. Assays are pending for both holes. Mr Lill described it as a highly promising start to the company’s drilling campaign at Mons. “These results provide strong evidence that Godley hosts a large mineralised system with potential for high-grade zones,” he said.

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