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Highlights
- Some junior resource stocks may have a fruitful 2023 due to the developments made last year
- Dreadnought Resources announced the initial Resource Estimate of the Yin Ironstone complex
- Metallurgical testwork has highlighted the potential to enhance recoveries from the Julimar project of Chalice Mining Limited
There are several ASX-listed companies which have made significant progress last year. Although it was not thoroughly reflected in the performance of their stocks in 2022, their share performance has improved in recent times, particularly in the last six months. Now, these companies are waiting to make the most of the developments in the year ahead.
Let us look at some of the ASX-listed junior resource stocks with over 50% returns in the last six months!
Dreadnought Resources Ltd (ASX:DRE)
Western Australia-based mineral exploration company Dreadnought Resources Limited is highly active and focused on developing resources for the future. The company has three projects in Western Australia with high prospects of rare earth elements, nickel, copper, cobalt, silver and gold. The Kimberley project of the company is rich in Cu-Ag-Au-Co, Ni-Cu-PGE; while the Mangaroon project has Ni-Cu-PGE-REE-Au and the Central Yalgarn project contains Au, Ni, Cu, Li and iron ore.
Dreadnought Resources recently announced the initial Resource Estimate of the Yin Ironstone complex located in the Mangaroon project. The estimate covered only 3km of an approximately 30-km-long site. This has provided a pathway for resource growth drilling in 2023. The Resource Estimate confirmed Yin as a high-grade and highly intense deposit, which contains 14.36 million tonnes at 1.13% total rare earth oxides (TREO).
Mineralisation was also confirmed at 22 outcropping targets, and drilling is planned for another 10 prospective targets.
Data: ASX as on 10 January 2023
Chalice Mining Ltd (ASX:CHN)
ASX-listed Chalice Mining is globally recognised as an explorer and developer of platinum group elements (PGE), nickel, copper, cobalt and gold. The company has defined a Tier-1 scale Mineral Resource Estimate at the Gonneville deposit, which has provided a strong base to develop a world-class project of green metals.
Chalice Mining recently shared an update on the technical and development studies of its Julimar project, Western Australia. New metallurgical testwork is focused on floatation tails leaching and staged grinding. The results of the testwork have highlighted the potential to enhance recoveries of palladium, platinum, and gold from the deposit.
The company has also planned to update the Mineral Resource Estimate for Gonnevile towards the end of the first quarter of 2023. The Scoping Study is evaluating selective mining approaches with the help of the data obtained from detailed infill drilling.
Chalice Mining also intersected significant PGE dominant sulphide mineralisation in initial drilling at the Hooley prospect of the Julimar project. All five reconnaissance holes of three drill sites intersected sulphide mineralisation, and assays results of the other nine holes are pending. Step-out drilling and wide-spaced reconnaissance are ongoing at the Hooley, Dampier, and Hartog prospects.
Image: © Ptlee | Megapixl.com
REX Minerals Ltd (ASX:RXM)
Australia-based company Rex Minerals Limited is engaged in the exploration and development of copper, gold, and iron ore deposits.
Rex Minerals is continuously evaluating its 100%-owned Hog Ranch gold property, Nevada, the USA. The results of the gold pathfinder element indicated the presence of a large-scale trend extending from the Krista to Gillam prospects. The company also received the assay results of the Airport and Bell projects. The best result from the Bells project confirmed the extensions to a high-grade controlling structure.
The company has also announced that it was moving ahead with project financing and operational readiness of fully owned Hillside project after Optimised Feasibility and the Definitive Phase Engineering Study were completed. The company expects the first production from the site by the fourth quarter of 2025. The site has a reserve of 989kt copper ore with a Stage One mine life of 11 years, which includes 151kt of copper-gold concentrate.
