Shree Minerals Ltd (ASX:SHH) announced that it has applied for exploration licences in the prolific Lachlan Fold Belt in the New South Wales. The tenement application (ELA6044) is 15 kilometres from the Bathurst and holds potential for bulk gold mineralisation.
The tenement shares the neighbourhood with exploration tenements held by Krakatoa Resources Ltd (ASX:KTA) and Alkane Resources Ltd (ASX:ALK). The tenement is located along the strike of high-grade gold deposits aligned in the north-northeast direction parallel to the regional strike.
The proposed exploration program will begin with the compilation of the exploration data and the field assessment of the historical gold workings within the license application. The application is in line with Shree strategy for acquiring project in the highly prospective regions and plans to initially focus on the exploration in the northern portion and the potential extensions of the gold mineralisation discovered by the neighbour Krakatoa Resources.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.
Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)