Welcome to our weekly roundup of some of the junior mining and exploration headlines from over the last seven days.
Arafura Resources Limited (ASX: ARU) has been awarded grant funding of A$30M under the Federal Government’s Modern Manufacturing Initiative (MMI) which will contribute to the construction of an $90.8M rare earth separation plant at its Nolans Project in Australia’s Northern Territory.
Golden Arrow Resources Corporation (TSXV: GRG | OTCQB: GARWF), through its wholly owned subsidiary, New Golden Explorations Chile SPA, purchased a 100% interest in the San Pietro Iron-Oxide Copper Gold (IOCG) Project in Chile from Sumitomo Metal Mining Chile Ltda (SMM Chile) for cash consideration of US$3.35M.
“With this acquisition Golden Arrow has secured full control of a project that exhibits an excellent value proposition, with near-term resource potential and multiple areas with exploration upside,” said executive chairman, president and CEO, Joseph Grosso.
In development news, Astra Exploration Inc. (TSXV: ASTR) identified promising new mineralization in an exploration programme at Pampa Paciencia, its flagship gold-silver project in northern Chile.
“The company is making great strides with drilling commencing only one month after public listing. Most exciting, is that historic drilling indicates grades are increasing at depth where the company’s initial drill holes will test,” said Brian Miller, the company’s CEO.
Galileo Mining Ltd (ASX: GAL) also identified over 8km of palladium and platinum strike from aircore drilling at the company’s 100% owned Norseman project in Western Australia.
Revival Gold Inc. (TSXV: RVG | OTCQX: RVLGF) provided an exploration and development update for the company’s Beartrack-Arnett Gold project, U.S., where a new mineral resource estimate is expected by the end of April. Laying out Revival’s plans for 2022, Hugh Agro, President and CEO announced that upcoming exploration and development milestones for the company are expected to include the release of an updated resource estimate within the next six weeks, mobilization for drilling in the second quarter and a PFS by year end.
Drilling news commenced with Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF | FSE: 634-FF) announcing it has received initial assay results from its Jonathan’s Pond Target and the remaining assays from its Quinlan Veins Target.
President and CEO Jeff Swinoga commented, “These assay results are an encouraging start to understanding the potential of these targets as well as similar targets on our large land package. For Jonathan’s Pond, the western extension of the near-surface gold mineralization intersection is coincident with gold samples collected from trenching performed in 2020.”
Ionic Rare Earths Limited’s (ASX: IXR) sixth and final tranche of phase four drilling results received has proven that all 66 holes intersected rare earth element (REE) mineralized clay above the mineral resource estimate cut-off grade at the Makuutu Rare Earths Project in Uganda.
The latest results of assays come from Tranche Six of the 8,220m phase four drill programme completed in October 2021 at Makuutu.
Finally, Maritime Resources Corp. (TSXV: MAE) provided an update on its ongoing 3,000m exploration programme, with multiple gold intersections recorded across the company’s Orion deposit and Green Bay regional exploration projects in the Baie Verte Mining District of Newfoundland and Labrador, Canada. Exploration activities are ongoing with a diamond drill rig focusing on new regional targets near the company’s Hammerdown project.
