The Small Ordinaries Index edged higher yesterday, in line with the broader market as the ASX 200 notched another record close. Materials were mixed, with lithium and rare earths showing strength even as major miners lagged.
Small and mid-cap announcements were light on Tuesday morning, with early news flow including project updates focused on gold and critical antimony.
Critical Resources cleared for maiden drilling at Amoco
Critical Resources Ltd (ASX:CRR) has secured approvals from the NSW Resources Regulator for its maiden reverse circulation (RC) drilling program at the Amoco Gold-Antimony Project in the Armidale region.
- Rock sampling at Amoco has returned assays up to 17.9 g/t gold, 0.53% antimony, and 80 g/t silver, highlighting structurally controlled mineralisation.
- Soil geochemistry results from a recently completed sampling campaign are due in early September, expected to refine drill targets ahead of first drilling later that month.
- The project sits 19 kilometres from Larvotto’s Hillgrove project and close to Koonenberry Gold’s Enmore discovery, underscoring the district’s prospectivity.
Resolution Minerals launches Phase 1 drilling at Horse Heaven
Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) has commenced Phase 1 drilling at its Horse Heaven Gold-Antimony-Tungsten Project in Idaho, adjacent to the Stibnite Gold Mine owned by NASDAQ-listed Perpetua Resources (~A$3 billion market cap).
- The program comprises 3,000 metres of diamond core drilling across nine holes, with potential to expand to 6,000 metres.
- Drilling will follow up historic intersections such as 85 metres at 0.94 g/t gold and 30 metres at 1.35 g/t gold, while also assaying for antimony and tungsten not tested previously.
- Horse Heaven has a history of antimony production during World War I, World War II and the Korean War, giving the project strategic weight amid US supply chain concerns.
The company has also engaged US government relations firms to support permitting and secure federal incentives. An OTCQB listing is expected shortly.