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Highlights
- Kingfisher Mining has completed a drilling program at Mick Well 2
- Green Technology Metals recently discovered the Blue Bear prospect at the Seymour Lithium project
- The Lunnon Metals Mineral Resource Estimate across the Kambalda Project has increased to 2.6 million tonnes
Market situations in 2022 witnessed a lot of ups and downs. The COVID-19 restrictions were uplifted to support global economic recovery. But at the beginning of the year itself, Russia’s invasion of Ukraine had a drastic impact worldwide. Geopolitical tensions increased, and economic sanctions were imposed on Russia. The US FED also raised the rates in order to curb inflation. All these factors caused a lot of changes in the share market.
Here, let us glance through some ASX-listed resource stocks which, despite all the above-mentioned factors, performed well in 2022:
Kingfisher Mining Ltd. (ASX:KFM)
Mineral exploration company Kingfisher Mining Limited’s portfolio contains mineral resource projects in Western Australia. Kingfisher Mining discovered high-grade rare earth elements (REE) at Mick Well, the Gascoyne Mineral Field. The Company has advanced copper-gold exploration targets in the Ashburton Mineral Fields spread over 700 sq. kilometres.
Recently, Kingfisher Mining completed a drilling program at Mick Well 2. Approximately 4,225 metres were drilled by 37 drill holes, it was higher by around 500 metres than the plan. The target of the drilling program was high-grade REE mineralisation, where total rare earth oxides were greater than 40%.
Five drill holes of the initial plan that got delayed due to rig availability will now be completed in 2023. At the Chalba target corridor, the company has made a significant breakthrough by just covering 5 km out of 54 kilometres.
Kingfisher Mining confirmed the assay results of MW7 indicate a strike length of high-grade REE mineralisation for more than 1km in the Gascoyne Mineral Field.
Green Technology Metals Ltd. (ASX:GT1)
Lithium exploration and development company, Green Technology Metals Limited, is based in North America. The Ontario Lithium Project is 100% owned by GT1 and is an important source of high-grade hard rock spodumene.
GT1 recently announced the assay results of phase 1 drilling at the McCombe deposit, the Root project. Spodumene-bearing pegmatites were intersected in more than 50 drill holes. So far, the assay results of only 22 holes have been received, while results of 28 drill holes are pending.
The company discovered the Blue Bear prospect at the Seymour Lithium project, the first in over 50 years. GT1 utilised classic geological and modern geophysical and geochemical techniques to identify spodumene-bearing pegmatite. Till date, 14 diamond drilling holes have been completed, and pegmatite has been intersected in each of them.
Data: ASX as on 29 December 2022
Lunnon Metals Ltd. (ASX:LM8)
Australia-based mineral exploration company Lunnon Metals Limited has a nickel and gold project in Western Australia. The Company aims to become a key player in the nickel sector of Western Australia by owning enough nickel mineral resources. The projects of the Company are Foster Nickel Mine, Baker Shoot, Silver Lake Mine, and Jan Shaft. Lunnon Metals is also involved in gold exploration.
LM8 made progress at the Warren Channel at the Kambalda Nickel project. The Company targeted the nickel mineralisation assay results of the Down-Hole Transient Electro-Magnetic (DHTEM) conductive plate. The current results of diamond drilling are an up-plunge of the results of WRN21DD_001W7. The new results also contain a significant nickel sulphide intercept located at the top of the footwall basalt. The company expects all assay results for high priority to be available in the beginning of 2023, and, hence MRE will also be updated.
Lunnon Metals updated the nickel Mineral Resource Estimate of the Baker deposit at Kambalda. The estimates have increased to 929,000 tonnes at 3.3% nickel for a total contained nickel of 30,800 tonnes. The latest results have increased the total MRE across Kambalda to 2.6 million tonnes at 3.1% nickel. The company will commence mine design and scheduling in the first quarter of 2023 following these results.
Parabellum Resources Ltd. (ASX:PBL)
Australian mineral exploration company Parabellum Resources Limited has projects in Mongolia and Australia. The Khotgor Rare Earths Project of Mongolia is located strategically for Asia market, having one of the world's largest undeveloped rare earth deposits. Australian projects are: Lunns Dam, Redlands-Whitbarrow, and Obley.
Image: © Zorandim | Megapixl.com
Parabellum announced that the Scoping study at the Khotgor project is progressing well and the results of metallurgical test indicate the site can be developed as a significant rare earth source. The Mineral Resource Estimate will be updated in the first quarter of 2023. The company achieved rare earth recovery of more than 85% by floatation test. The initial hydrometallurgical testwork was able to recover more than 90% of the rare earth oxides.
Cobre Ltd. (ASX:CBE)
ASX-listed mineral exploration company Cobre Limited is focused on copper and high-grade base metals in Botswana and Australia. The company has discovered volcanic-hosted massive sulphide deposits at its Perrinvale project, Western Australia. These are rich in high-grade copper, gold, silver and zinc. The other project in Western Australia is Sandiman.
Cobre recently secured funds for accelerating the exploration program in the Kalahari Copper Belt, Botswana. The company will be able to fund a substantial drill program consisting of two diamond drill rigs and one reverse circulation rig, which will drill throughout next year.
