Gold, silver, REES and metwork – who found what on Tuesday 20 May?
There’s more than one drill hit announcement floating around on the bourse today, so we’re grabbing a handful and getting straight to the point on who found what today.
Thunderbird Resources (ASX:THB)
- Thunderbird Resources has posted rock chip grab sample assays for gold and antimony
- Shares were +17% higher at lunchtime to 1.4cps
- The best results were:
- Gold: 19.3g/t gold (Kookabookra)
- One sample at 8.56g/t gold (Kookabookra)
- Antimony: up to 4.1% Sb (Rockvale)
- Silver: up to 200g/t Ag (Rockvale)
- The company will move to proper drilling in Q3 of CY2025
- Historical gold occurrences are known nearby
- Further soil sampling will be conducted on the ‘Achill’ target at Rockvale
- Today’s results were not drilling assays but rock chips / surface samples which aren’t reflective of grades underground
Mithril Silver and Gold (ASX:MTH)
- Mithril Silver and Gold has posted its latest drill results from its project in Mexico
- Shares were +9.6% higher at lunchtime to 37cps
- The company has reported a “high grade discovery in first round of shallow drilling” but results only cover Target 2 (Las Brujas)
- Results for drillhole T2DH25-006 as follows:
- 11.5m @ 8.6g/t gold
- “57.6g/t silver from 44.5m depth, including
- 3.8m @ 25g/t gold”
- “128g/t silver from 46.65m depth”
- The company’s drill results weren’t particularly straightforward and its unclear what average grades may or may not look like, but investors appear unconcerned
- The company says follow up drilling some 80 metres down dip is planned
Axel REE Ltd (ASX:AXL)
- Axel Rare Earth Element (REE) Ltd has posted its latest REE drill results from its Caldas project
- Shares were +11% higher at lunchtime to 7cps
- Drilling results come from a shallow-set auger drill run
- The company has reported results as Total Rare Earth Oxides (TREO) and then a subsequent Magnetic Rare Earth Oxide (MREO) component per each result
- Results as follows:
- 8.8m @ 5,309ppm TREO (26% MREO) from surface, including
- 01m @ 8,100ppm TREO (29% MREO) (CAL-AUG-022)
- 10.8m @ 3,683ppm TREO (32% MREO) from surface, including
- 01m @ 6,726ppm TREO (38% MREO) (CAL-AUG-024)
- 11.4m @ 3,608ppm TREO (21% MREO) from surface, including
- 01m @ 7,8440ppm TREO (32% MREO) (CAL-AUG-025)
- The repeated hits of mineralisation from surface are likely leading to investor interest in the stock despite a background fall in rare earths prices over the last two years
- The company believes higher grade mineralisation may continue at depth but further data is needed
Riversgold Ltd (ASX:RGL)
- Riversgold Ltd hasn’t released drilling results but has revealed metallurgical testwork results
- Shares were unchanged at lunchtime sitting at 0.4cps.
- Results come from works conducted on ore samples from the company’s Kalgoorlie East Project (25km from Kalgoorlie)
- Cyanide bottle roll treatment showed gold recoveries from two oxice samples of:
- 93.67% in one sample, and
- 90.64% in another, for a total average of 92.16% recovery
- Overall average gold recovery from five samples is now 92.5%
- The company says it has received all assays from recent history and is now working on a fresh drill run on-site the project
- A mining lease application “continues through the process”
Gold, silver, REES and metwork – who found what on Tuesday 20 May?
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