TIPS TRIFECTA
I was this week’s guest contributor to Stockhead’s Tips Trifecta. You can click on the link below.
https://stockhead.com.au/news/asx-small-caps-weekly-form-guide-29/
King River Resources (ASX:KRR)
KRR has people, projects, and money. It recently recently acquired the Mindoolah Gold Project, situated 70km northwest of Cue within WA’s prolific Murchison Province.
KRR also recently appointed Graham Gadsby as its managing director – a vastly experienced and successful senior executive and geologist, who previously spent seven years at Spartan Resources, where he held the senior roles of general manager operations and chief geologist. His work helped lead to the discovery of the high-grade Never Never and Pepper gold deposits.
Mindoolah Project covers 100km2 of highly prospective greenstone, much of which remains under-explored beneath shallow cover. The Murchison province has a +35Moz gold endowment, and the project has easy access to the Great Northern Highway and proximity to major operating mines.
Historical operations were technically limited to the water table at ~21m depth, and while shallow open pits were developed in the 1980s, mining was discontinued prematurely due to a low gold price environment (US$300-400/oz) rather than a lack of mineralisation. KRR is strongly positioned financially to continue its focused exploration campaign, with total cash and investments as of June 30 of $30.2m.
Anax Metals (ASX:ANX)
ANX is an emerging copper producer, the sort of situation that is in high demand. ANX holds an 80% interest in the Whim Creek copper-zinc project, with the remaining 20% held by Develop Global (ASX:DVP).
Whim Creek is the only fully-permitted, development-ready base metals project within the Western Pilbara of WA capable of treating both oxide and sulphide ores, with substantial existing process and non-process infrastructure on site, including crushing and heap-leach production infrastructure. ANX has completed successful scoping and definitive feasibility studies on Whim Creek that have demonstrated a technically and economically robust polymetallic development.
Mons Cupri is the cornerstone of the development, with an ore reserve of 2.55 Mt at 1.09% Cu and 1.29% Zn expected to provide the primary feed source for the planned 400,000tpa concentrator during the initial years of operation. However, the primary VHMS sulphide horizon that drives the system remains largely untested below 120m. An 18-hole/5000m diamond drilling program is underway to test for extensions to the Mons Cupri deposit at depth and along strike.
White Cliff Minerals (ASX:WCN)
WCN is a focused big-picture explorer and its flagship asset is its 100%-owned Rae copper-silver project, located on mainland Nunavut, Canada. It encompasses ~2000km2 within an emerging copper district. Boasting a series of targets named after Marvel superheroes, its key exploration priority is the Danvers prospect, where the company has already conducted meaningful exploration drilling campaigns that have generated high-grade copper mineralisation.
Of current significance is the first diamond hole that was recently drilled into Danvers, which has delivered an exceptionally broad, near-surface, high-grade copper result of more than 50m at 2.81% Cu – including 4.3m at 10.93% Cu. This initial diamond result further underlines the exceptional tenor and scale potential of the Danvers mineralised system – as well as providing the geological and structural information needed to refine the model and systematically target extensions to the mineralized system.
The result confirms that the high-grade copper mineralisation identified in the previous RC program is not an isolated series of intersections, but forms part of a continuous mineralised system that can now be interpreted with confidence. WCN has current cash reserves of ~$6m.