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The strategy of concentrating on regional exploration in Western Australia’s highly prospective but under-explored Yamarna Belt is beginning to pay dividends for regional specialist explorer Gold Road Resources.
Equity researcher Argonaut says Gold Road’s latest discovery, the Gruyere gold prospect, within its 100%-owned North Yamarna tenements, is shaping up at an early stage to be a potential 1-2Moz deposit with an estimated inventory of about 500,000oz at a grade of 1-1.2g/t.

Australian junior explorer Precious Metals Resources is pursuing its expectations of large scale polymetallic targets through a fully funded work program at its Halls Peak project, 80km south of Armidale in northern New South Wales.
The company’s search for high-grade copper, lead, zinc and silver in sedimentary exhalative deposits is fully funded by Chinese state-owned enterprise Jiangsu Geology and Engineering Co.

Hazelwood Resources faces challenges as it seeks to become a vertically integrated ferrotungsten producer after completing the second campaign from its majority-owned Asian Tungsten Company plant in Vietnam.
The ATC plant is currently supplied with concentrate feedstock from global tungsten suppliers, generating sales margins of $A6-8/kg.

The start of second-phase drilling program underlines the potential for a classic mineralised porphyry system at Inca Minerals' flagship Chanape gold-silver project in Peru.
The drilling program follows extensive geochemical and geophysical studies to hone drill targeting involving nearly 700 grid-based surface samples, 41 line km of IP and 25 line km of ground magnetics to derive high-quality drill targets on epithermal and porphyry style mineralisation.
It is designed to test epithermal and porphyry targets.

Junior explorer Corazon Mining is likely to start the next phase of drilling within weeks at its Top Up Rise iron oxide copper gold project in Western Australia.
The potential of the project in the Gibson Desert, where Corazon is earning 75%, has encouraged Australian broker Hartleys to extend its speculative buy recommendation for Corazon.

Celsius Coal is investigating the feasibility of different mining methods including auger, openpit and underground operations as it progresses pre-scoping activities for its 80%-owned Uzgen coking coal project in the Kyrgyz Republic.
The project’s mid and long-term potential to supply the expanding steel industry in China’s Xinjiang province, where coking coal prices are at a premium to seaborne prices, prompted Australian broker Hartleys to maintain a speculative buy recommendation.

Metanor Resources has set the stage to achieve cash-flow positive status after stabilising production at its Bachelor Lake gold mine in Quebec.
The Canadian miner has been undergoing development ramp-up at its newly refurbished Bachelor mine and mill, pushing towards 4,000-5,000oz/month.
The progress at the very rich underground mine, with grades averaging 7.38g/t and upwards of 26g/t, has led Hard Money Advisors mining analyst Jay Taylor to re-establish his recommendation for the share from “hold” to “buy”.

Canadian miner Almonty Industries isn’t giving up immediately despite being rebuffed in its bid to combine two major Spanish tungsten projects through an unsolicited all-scrip offer for Ormonde Mining.
Expressing disappointment that Ormonde’s board rejected its 1-for-12.2 shares bid without discussing the merits of the transaction, Almonty said it was considering its various options.

The recent acquisition of a 49% interest in the Panda Hill project in Tanzania transformed Cradle Resources into an international niobium development company, Patersons Securities reports.
The Western Australian explorer has the right to acquire the balance of Panda Hill, which has estimated potential to be worth $A1B once fully de-risked.

Northern Star’s newly discovered Titan discovery could develop in time to be as significant at the Voyager 2 discovery at the Paulsens gold mine in Western Australia, Perth-based broker Hartleys said.
The zone of gold mineralisation runs parallel to the high-grade Voyager 1 and 2 lodes at Paulsens, within 100m of existing underground mine development.
The discovery hole intersected 6.2m (true width) @ 24.7g/t Au from about 700m below surface.

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