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Https://www.australianmining.com.au/lake-johnston-charges-ahead/
Australian Mining
Discovery, Lithium, News, Rio Tinto
Lake Johnston Charges ahead
OLIVIA THOMSON
April 11, 2024, 1:13 pm
lithiumImage: Henri Koskinen/stock.adobe.com
Battery metals explorer Charger Metals has revealed the results from an infill soil-sampling program recently completed across the Mount Gordon prospect at its Lake Johnston lithium project in the Yilgarn region of Western Australia.
The program comprised large soil anomalies equalling more than 100 parts per million (ppm) of lithium oxide (Li2O) that extended over 3km. A total of 864 samples were taken and results from the program are expected in 3–4 weeks.
Detailed structural mapping has also been conducted at the Medcalf spodumene prospect and the Mount Day lithium prospect.
At Medcalf, detailed structural mapping and interpretation was conducted over the principal area of the outcropping spodumene pegmatites and the immediate surrounds, and detailed structural mapping was carried out alongside reconnaissance mapping and surface sampling at Mount Day’s northern areas.
“The exploration team, in collaboration with our project partner RTX (Rio Tinto Exploration), has been very busy at our Lake Johnston lithium project with systematic work programs across much of the project area,” Charger Metals managing director Aidan Platel said.
“Exploration has been completed both in new areas in order to potentially define new prospective areas, as well as across known target areas like Mount Gordon and Medcalf to better define the targets for upcoming drill programs.
“The drilling approvals process has been frustratingly slow, but we now expect to receive the final PoW (programme of work) approvals later this quarter and we look forward to drill-testing our priority lithium targets as soon as possible.”
Priority target areas to be drilled include Mount Gordon, the strike extensions to the known high-grade spodumene mineralisation at Medcalf, and the spodumene pegmatite trend to the southwest of Medcalf
Devil, I'm in directly with Black Schist via Metals One. ( Met1)
I know that area of Finland, very well, it has great potential. Only downside is its very close to the border with Mad Vlad. K
We’re gonna have £500k in the black schist project anyone got must hope for it?
I think Aberdeen minerals looks like a potentially great investment. This is from 25th March;
Aberdeen Minerals announces an equity financing of up to £5.5 million to invest in its mineral exploration programmes for deposits of nickel, copper and cobalt in North East Scotland. Responsibly sourced and secure supplies of these metallic raw materials used in batteries and electrification are critical to a just energy transition in Scotland and the UK.
The financing comprises:
A conditional cornerstone investment by Central Asia Metals plc (CAML) of £3 million at 8.5 pence per share to acquire a 28.7%[*] shareholding in Aberdeen Minerals
Warrants to be granted to CAML to invest an additional £2 million at 11 pence per share, which, if exercised, would take CAML ownership to 37.8%
An Entitlement Offer to existing shareholders to raise up to an additional £0.5 million at 8.5 pence per share[†].
CAML current mcap is £390mil - they’re not Mickey Mouse
1911 Gold currently CAD$0.095 and bought £200k at CAD$0.06, so this is currently looking like a good investment.
Would be interesting to know the value of all their investments plus cash in bank. must be significantly higher than their current mcap of around £800k. Especially if you factor in rincons current rise, the progression in low6, and other potential positive outcomes with 1911 gold, charger metals, eagle mountain and aberdeen minerals etc. Obviously have to factor in the cash burn but this does look like a good bet at this price?
If this carry on going up and they find a major discovery like WA1 with a MC of over 1billion aus$ watch everyone get onboard.
Gunsynd has 1.8% of Rincon Resources with a MC 31miliion aus$
Get in early
5 bagger in 5 to 6 weeks on drill results
Ltd company, so difficult to tell, but latest filed accounts from 2 weeks ago look very positive
Low 6 looks to have been a great investment. Any idea what their investment of £265k is worth now?
You're posting old data which is not helpful - GUN only have 4m Rincon shares and 997k PNM shares I believe - please read the updated RNS's everyone
Advanced and greenfield projects in Arizona Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries, now owned by major mining companies including BHP, Rio Tinto, Freeport McMoRan and Hudbay.
Rogue Baron Plc – Gunsynd holds 21,543,563 shares in Rogue Baron, a premium spirits company whose flagship products include Shinju whisky and Copa Imperial tequila. Gunsynd retains a balance of £111,464 of Convertible Loan Notes in addition. Rogue Baron is traded on the Access segment of the AQSE Growth Market, under the ticker symbol AQSE: SHNJ.
Pacific Nickel Mines Limited – Gunsynd holds 2,779,840 shares in ASX listed Pacific Nickel Mines Limited (ASX:PNM)
Low6 Limited (Low6) – Gunsynd has invested approximately £265,000 in Low6, a UK-based, influencer-led, B2B pool betting platform for franchises around the world. Low6 offers a white-label pool betting platform for professional sports franchises.
Rincon Resources Limited (ASX:RCR) – Gunsynd holds 11,065,812 shares in Rincon representing approximately 6.25% of Rincon’s issued share capital.
Rincon is a Western Australian (“WA”) focused gold and base metals exploration company. It holds the rights to three highly prospective projects in WA, with a main focus on the South Telfer Project, covering 50,000-hectares in Paterson province.
Oyster Oil & Gas ltd BVI (“Oyster”) – Gunsynd holds 331 shares in Oyster, a junior oil and gas E&P company
2 May 2024 17:30
RNS Number : 0726N
Gunsynd PLC
02 May 2024
Gunsynd PLC
("Gunsynd" or the "Company")
Update on Conditional Farm-in to Black Schist Projects in Finland
Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by Metals One Plc in relation to the second stage payment from the Company pursuant to the subscription and shareholders agreement (the "Farm-in Agreement") between Metals One, Metals One Finland Oy (formerly named FinnAust Mining Northern Oy) and the Company, as detailed in Metals One admission document, is now due. Discussions regarding various options in relation to the Farm-in Agreement are ongoing and the Company will make a further announcement once these are concluded.
£293k value in Rincon alone now with the 4m shares
Rincon up over 50% today
Result Should be due next week for a potential lithium discovery.
Charger Metals NL has completed a comprehensive infill soil sampling program at its promising Mt Gordon Prospect within the Lake Johnston Lithium Project, with results anticipated in the next 3-4 weeks. The company has also conducted detailed mapping at the Medcalf and Mt Day prospects, essential for guiding future high-grade lithium exploration. Approvals for reverse circulation drilling, critical for advancing the project, are expected later this quarter, signaling a significant step towards potential lithium discovery.
Charger Metals NL has completed a comprehensive infill soil sampling program at its promising Mt Gordon Prospect within the Lake Johnston Lithium Project, with results anticipated in the next 3-4 weeks. The company has also conducted detailed mapping at the Medcalf and Mt Day prospects, essential for guiding future high-grade lithium exploration. Approvals for reverse circulation drilling, critical for advancing the project, are expected later this quarter, signaling a significant step towards potential lithium discovery.
Sorry 🤦♂️ quick typing, 113k in cash as of 31st Jan. But also raised money via sales of shares.
But net asset value plus their cash makes this look like a very good buy to me.
They dont have £1,300,000 in cash.
Further. A month ago they raised c £240,000 via sales of shares (inc Rincon) so it looks like they have something to invest in.
Sorry correction 1/4 of mcap is in rincon
This looks cheap to me. Am I right in saying their shares in rincon are currently worth around £200,000? That’s 1/3 of their mcap.
Their net asset value in half year (31st Jan 2024) £1.75mil and cash 1.3mil.
Need to do a bit more calculating but this looks incredibly cheap currently. Or am I missing something?
Https://themarketbull.com.au/2024/05/01/rincon-resources-launches-drilling-at-west-arunta/
Rincon Resources Limited (ASX:RCR) has kickstarted its inaugural reverse circulation (‘RC’) drilling campaign at the West Arunta Project in Western Australia, aiming to probe 4 pivotal target zones, each harbouring substantial potential for IOCG copper-gold mineralisation.
Today’s announcement follows an incredible surge in the company’s share price, up over 300% in the past month, driven by the buzz surrounding its potential ‘bullseye’ target discovery.
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Figure 1: Plan of the Pokali IOCG Prospect area showing RC drilling areas (yellow dotted outlines), overlying 3D inversion models of residual gravity (blue) and magnetic susceptibility (dark red) iso-surface shells.
Exploration focus
The RC drilling campaign will explore up to 2000 metres across 4 distinct target areas in pursuit of IOCG copper-gold mineralisation.
At Pokali East, the focus lies on extending IOCG copper mineralisation by up to 600 metres eastward from previous drilling interceptions, including:
PKC024 – 14m @ 1.00% Cu from 168m within 62m @ 0.39% Cu from 152m,
PKC027 – 4m @ 1.36% Cu from 222m within 42m @ 0.33% Cu from 196m, and
PKC023 – 6m @ 1.36% Cu from 100m within 32m @ 0.46% Cu from 74m.
Dune emerges as a promising prospect, with drilling aimed at probing the newly identified gravity target for hematite-breccia style IOCG copper-gold mineralisation, spanning 2 kilometres along a major fault zone.
Meanwhile, Pokali North awaits further testing, with additional drilling slated to explore the magnetic/gravity target area, believed to host not only IOCG copper-gold but also rare earth element mineralisation, following rock-chip sampling results which returned anomalous TREE values up to 0.48%.
Drilling efforts will also target the Jewel area, testing a newly delineated magnetic/gravity anomaly, reminiscent of the deep geophysical target observed at Pokali East.
Looking ahead
With the RC drilling program now underway, Rincon Resources anticipates completion within approximately 2 weeks.
Following this, assay results are expected to be available by June, shedding light on the mineral potential of these target areas.
Rincon remains open to extending the program beyond the initial 2,000 metres, contingent upon visual observations of IOCG alteration and copper sulphide mineralisation.
Management commentary
Rincon Resources Managing Director, Gary Harvey, expressed satisfaction with the commencement of the RC drilling program.
“We are very pleased with the arrival of the RC drilling rig and the commencement of this initia
Up 28% overnight
I’m a LTH so just skimmed it, RCR just put out a new RNS and is now drilling 2000M but it’s not that exciting with our reduced holding.
If there share price goes up 20-30% tonight could see another pump here
I’m focused on other shares mb for the mistake