Welcome to a roundup of some of our financing, exploration, and development stories on Theassay.com over the last week. To keep up to date with all the latest headlines, subscribe to our weekly newsletter.
New exploration and development
Over the last week, Asian Battery Metals PLC (ASX: AZ9) has announced significant progress at the Oval Cu-Ni-PGE discovery within the Yambat Project in Mongolia.
The latest downhole electromagnetic (DHEM) survey identified 17 Priority 1 conductive plates with high conductance—up to 29,000 siemens—extending across multiple drill holes. These plates offer insight into the scale and orientation of the deposit, particularly around the massive sulphide intersection at drill hole OVD021.
The density and proximity of these high-conductivity plates support the potential for continued high-grade mineralization.
Additionally, Bastion Minerals Ltd (ASX: BMO) has provided an update on its activities in Sweden, where the company holds the highly prospective high-grade copper (Cu) and rare earth elements (REE) Gyttorp Project and eight additional properties along the REE line.
Following granting of the additional properties earlier this year, Bastion has undertaken reconnaissance sampling and pXRF analyses of REE and copper mineralization. Initial evaluation has shown that magnetite skarn is developed in calcareous horizons.
Executive chairman, Mr Ross Landles, said, “The REE mineralization in the newly granted properties is of the same skarn style as at Gyttorp, with similar high-grade results. Given the extensive property holding along the REE Line, we will continue to conduct sampling and mapping across the properties, in order to establish the areas with the highest REE and Cu grades and the greatest thickness and length of mineralization. This will allow us to rank the project areas and decide which is the highest priority for drilling.”
Drilling results
Freegold Ventures Limited (TSX: FVL | OTCQX: FGOVF) has announced recent developments from its successful drilling programme in 2024, highlighting four specific holes that were drilled to facilitate additional metallurgical testing. These holes were strategically designed to collect representative material from the deposit while improving infill drilling efforts.
Approximately ~2,400 of ½ PQ core (~ 20t) have been shipped to BaseMet Labs in Kamloops, BC, where a comprehensive suite of metallurgical testing is currently underway and will also focus on attaining comminution characteristics over primary lithologies and alteration at Golden Summit.
Notably, test work conducted earlier this year showed an average recovery of 77% using gravity and CIL; however, flotation and oxidation are expected to increase recoveries to over 90%. The programme will include further leach, gravity and CIL, and BIOX®, POX, and Albion® test work with additional data from these 2024 drill holes to facilitate future trade-off studies. This testing is expected to take several months to complete.
Other news
Finally, Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has appointed Mr. Alan Pangbourne as a strategic advisor to the company. Mr. Pangbourne has more than 35 years of experience in the mining sector, and currently serves as non-executive director for OceanaGold Corporation as well as non-executive director for Chesapeake Gold Corp.
Luke Alexander, president and CEO of Newcore stated, “We are thrilled to welcome Alan to our team as a strategic advisor. Alan’s extensive industry experience, including his mine construction and operations experience as well as knowledge of heap leach processing, will be an invaluable asset as we advance our Enchi Gold Project towards commissioning of a pre-feasibility study. With drilling underway at site, along with advancement of low-cost de-risking development work, we are looking forward to a busy year ahead as we continue to prove out the significant potential of our district scale Enchi Gold Project in Ghana.”
