Top 5 Resources: Copper Shots, Two Lithium Stockpiles, and a Short-Term Uranium Miner

  • NexGen’s “Rook I” High-Grade Uranium Project Nears End of Development Cycle
  • Superior Resources has now grown by around 43% since announcing big copper hit at ‘Bottletree’
  • Lithium Morella Corp stock continues to advance after its ASX IPO earlier this month

Here are the biggest resource winners at the start of trade, Thursday, December 30.

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The TSX-ASX-listed company has a portfolio of projects in the uranium-rich Athabasca basin in Saskatchewan, Canada.

NXG’s main game is the Advanced Project “Rook I,” which hosts the Arrow high-grade uranium deposit.

A February feasibility study – a detailed look at the economics of building a mine – was based on processing 4,575,000 t of uranium grading 2.37% U3O8 (probable mineral reserve) d ‘Arrow.

233.6 million pounds of U3O8 would be produced over an initial lifespan of 10.7 years, according to the company.

Here are some of the key figures, which look pretty good despite the high start-up cost:

In November, NXG moved to the next stage of project development with the start of “Front End Engineering” (FEED).

FEED focuses on the technical requirements and construction costs of the project. This step should be completed in the third quarter of 2022.

“At the same time, the drafting of the environmental impact study for the project and the authorization work nearing completion, as well as regional exploration targeting new zones of potential“ arrow-type ”mineralization, further illustrate the ‘commitment of the NexGen team to the successful execution of multiple streams of work,’ said CEO Leigh Curyer.

The stock’s C $ 2.65 billion market cap was up 8.5% over the past month.

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SPQ is now up approximately 43% since the announcement of visual copper and disseminated copper over much of a 659m long hole in the ‘Bottletree’ porphyry copper-gold prospect last week.

The strongest copper mineralization occurs over an interval of 200 m, according to the company. All important tests are pending.

And that’s not even the primary target at Bottletree – a large interpreted copper-gold porphyry system located 500m to the west.

“It should be noted that these copper mineralized zones are a secondary target and appear to be simple outer zones of mineralization, or ‘leaks’ potentially related to a much larger copper-gold porphyry system,” said Peter Hwang, Managing Director by SPQ.

“The next program at Bottletree, scheduled for the end of the first quarter of 2022, will be large-scale and will target the interpreted porphyry system and ‘satellite’ copper zones, including additional drilling in the associated copper zone. chargeability anomaly. “

In addition to deep drilling at Bottletree, SPQ aims to deliver up to two JORC compliant copper mineral resource estimates early in the new year; one at Wyandotte and the other at the larger “Cockie Creek” copper prospecting.

It also aims to bring the small but potentially lucrative “Steam Engine” gold project in Queensland into production.

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HMX, specializing in copper and gold, has one of the best exploration teams in the industry.

It includes Chairman Russell Davis (Founder of Gold Road Resources (ASX: GOR)), Managing Director Daniel Thomas (former Director of Business Development at Sandfire Resources (ASX: SFR)) and Non-Executive Director Ziggy Lubieniecki, a credited geologist of the discovery of the Gruyère +6.5 Moz gold deposit from GOR.

The focus is on the “Mt Isa” project at QLD, where HMX has a dual objective: to increase its inventory to over 400,000 tonnes of copper through exploration near the mine, as well as research. large-scale iron oxide and copper-gold (IOCG) deposits. .

In August, copper giant Sumitomo Metal Mining signed a $ 6 million deal to gain 60% of a 290 km² area at Mount Isa.

An upcoming drill program will test several interesting targets, HMX said in early December.

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Lithium stock, formerly known as Altura Mining, continues to climb after being re-listed on the ASX earlier this month.

The current management of 1MC is a lite version of the Altura team that built and operated its namesake lithium project, now owned by neighbor Pilbara Minerals (ASX: PLS).

After a 16 month suspension, 1MC now has a few new lithium exploration projects underway, including “Mallina” in Pilbara, WA and the “Fish Lake Valley” brine project in Nevada, United States.

The company raised about $ 8.5 million before it was re-listed at 0.5 cents per share.

Investors who entered at 0.5c would be happy, with the current stock price rising 240% from those levels. It goes without saying that long-time investors remain in the red.

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The Lithium Explorer is well below its crazy September peak of 93c per share but still comfortably above its July IPO price of 20c.

BMM, recently spun off from EV Resources (ASX: EVR) – focuses on the ‘Rekovac’ lithium project in the little-known jurisdiction of Serbia.

The project “has similar geological parameters” to Rio Tinto’s world-class Jadar discovery, according to the company.

Following a small drilling campaign – which affected lithium mineralization in two holes – surface mapping was carried out over the entire project area to determine certain drill targets.

Data obtained from the mapping program was analyzed to aid in site selection for the proposed 2022 drilling campaign, BMM said.


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