- Superior Resources discovered Queensland’s new future metals provinces recently.
- Santana Minerals has revealed the assay results of the New Rise and Shine site eclipse with earlier average grades of Mineral Resource Estimate
- Askari Metals intersected a zone of average gold mineralisation of 17.41 g/tonne at the Easter Gift site of the Burracoppin Project
Gold is a highly stable metal found in small amounts across the earth. As per the World Gold Council, China was the largest producer of gold in 2021, followed by Russia and Australia. In Australia, gold mining is a well-established industry.
The US FED increased the interest rate by 75 basis points recently. This had a direct impact on gold prices. As a result, gold stocks also observed significant changes in the market. There was a surge in the prices of ASX-listed gold stocks.
Today, in this article, we will look at some ASX gold stocks that have delivered good returns in the past 12 months.
Data: ASX as on 6 December 2022
Superior Resources Ltd. (ASX: SPQ)
Australia-based mineral exploration company, Superior Resources, deals in the lead, zinc, silver, copper, gold, nickel, and platinum group elements. The company also holds shares in Deep Yellow Ltd, a uranium exploration company listed on the ASX. Superior Resources has three major projects in Australia: Greenvale Project, Nicholson Project, and Victor Project.
The Greenvale Project has a region of volcanic and intrusive rocks. It comprises 11 significant mining prospects rich in copper, gold, and nickel-copper-cobalt.
The company released its quarterly activity report in October. During the quarter, operational activities were completely focused on the Greenvale Project. At the Bottletree prospect of the Greenvale Project, Superior intersected porphyry-style copper-gold mineralisation from the first two deep diamond drilling holes. The third hole intersected disseminated Cu-Au-Mo mineralisation.
In November 2022, Superior Resources announced the discovery of Queensland’s new future metals provinces. The company is planning to commence the drilling of the third copper-gold porphyry prospect in Wyandotte. The site has the potential for the Cu-Au-Mo porphyry system and high-sulphidation Au-Cu-Ag. The Cockie Creek prospect of the Greenvale Project has 13Mt @ 0.42% Cu as per JORC 2004. It also has the potential for Cu-Au-Mo deposits.
Santana Minerals Ltd. (ASX: SMI)
Santana Minerals Limited is a precious metal exploration company based in Australia. The company has projects in New Zealand, Cambodia, and Mexico. Currently, it is focusing on the Bendigo-Ophir project in New Zealand.
The Cuitaboca silver-gold project in Mexico has low-intermediate epithermal-style veins of precious metal mineralisation. Santana Minerals has two exploration licences targeting gold in Cambodia: Phnom Kthung and Snoul.
Santana Minerals was pleased to announce the extension of gold mineralisation in October as per the drill assay results of the Bendigo-Ophir Project. Significant deposits were found at several sites: Rise and Shine (RAS), Come-in-Time (CIT), Shreks (SHR), and Shreks East (SRE). the drilling was accelerated to extend the resources throughout the project.
Santana announced further significant drill assay results for the New Rise and Shine sites on 29 November. The results eclipsed earlier average grades of the RAS Mineral Resource Estimate (MRE) done in July. Seven new aggregate intercepts have a higher grade and greater thickness than the July MRE drillholes.
Image: © Netfalls | Megapixl.com
Askari Metals Ltd. (ASX: AS2)
Askari Metals is an Australia-based company with the primary purpose of acquiring, exploring, and developing high-grade lithium, copper, gold, and copper-gold projects in New South Wales and Western Australia. Askari Metals has the high-grade copper exploration Horry Copper, and Callawa copper projects. Gold exploration is done at the Mt. Maguire, Burracoppin and Springdale projects.
The company received the final batch of assay results of Phase III drilling at the Burracoppin project in October. The results showed the presence of high-grade mineralisation around Lone Tree, Benbur East, and Easter Gift, which were not tested earlier. The future exploration of the Burracoppin project is possible following these multiple new targets.
The drilling results of Benbur East also indicated that mineralisation might continue further south, while the results of Lone Tree indicated mineralisation might continue along the strikes. The hole drilled beneath the mineralised envelope at Easter Gift intersected a 3m-wide zone of mineralisation with an average gold value of 17.41 g/tonne.
Recently, Askari Metals also announced the results of the first field reconnaissance program of the Springdale project. Its aim was to investigate and sample historical gold targets and other high-priority targets which were identified from the geological review.
Exceptional high-grade gold was found in Springdale, ranging from 11.7 g/tonne to 31.7 g/tonne. Samples also revealed base metal mineralisation with 1100 ppm Cu, 2370 ppm Zn, and 5830ppm Pb. The company will plan for further modern exploration to evaluate the potential of the project.