There may be further momentum for Xtract Resources (XTR) in the wake of yesterday afternoon’s report revealing the discovery of a new copper mineralised porphyry system on the Bushranger copper-gold exploration project.
By Zak Mir
The discovery has been made by drilling an Induced Polarisation geophysical anomaly undertaken as part of the ongoing Phase 2 diamond drilling programme. The company said the intention now is to test for up-dip mineralisation and to establish strike direction with a view to building up a further mineral resource at Ascot. At the same time there was positive news for the company in that New South Wales said it was to make it easier for mining companies to search for critical metals, especially copper.
The contracts keep coming at Open Orphan (ORPH), and it will be interesting to see whether the sheer magnitude of the latest one moves the dial in terms of the share price on this occasion. The company said that hVIVO, a subsidiary of Open Orphan, has signed a $13.4m contract with a US-based biotechnology company to test its novel antiviral candidate using the hVIVO Influenza Human Challenge Study Model. The study is expected to commence in H2 2022 and will be conducted at hVIVO’s facilities in London. The company expect the majority of revenues to be recognised in 2022.
UK Oil & Gas (UKOG) updated on the Basur-Resan licence area in which it holds a 50% non-operated interest. The company said 2022 promises to be an exciting year in its Turkish assets with the conclusion of the Basur-Resan seismic programme and the drilling and testing of Basur-3S. The additional prospectivity from Lead A also gives unexpected further additional resources and drilling scope to the Licence.
Modern Water, a division of DeepVerge (DVRG) announced the completion of development of the 3rd generation compact Microtox® PD COVID detection system, which is now scheduled for launch in the first quarter of 2022. The upgraded Microtox® PD system significantly expands pandemic surveillance capabilities to locations where large groups of people gather, extending the reach of real-time national pandemic response to local community level.
Ariana Resources (AAU), the AIM-listed mineral exploration and development company, announced the completion of the initial investment of the Asgard Metals Fund, which is being developed as part of its proprietary Project Catalyst Strategy. The company said the successful listing of Panther Metals marks a key pivot point of its ambitions as an exploration and development company, and represents an important stage in the realisation of value through the Asgard Metals Fund.
Tertiary Minerals (TYM) announced audited results for the year ended 30 September 2021. The company said it has advanced the Pyramid Silver-Gold Project in Nevada to drill-ready status, acquired and initiated systematic exploration of the Brunton Pass Copper Project in Nevada, with trenching planned as the next step. Tertiary has also established a copper-focused Zambian footprint, including options to earn-in to over 1200 km2 of large exploration licences.
Gemfields (GEM) announced the results of a ruby auction during the period 8 November – 9 December 2021. The auction delivered an all-time high for MRM ruby auctions and contained a selection of grades that are typically offered at Montepuez Ruby Mining Limitada’s auctions of mixed quality rubies. Total auction revenues were of $88.4 million, an all-time high for MRM ruby auctions. The company said it has achieved a new record for annual gemstone auction revenues of $239 million for 2021.
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