The S&P/ASX Small Ordinaries (ASX: XSO) fell 2.84% on Friday to 3,612.10, extending its 5-day decline to 1.03% as broader weakness weighed on small-cap stocks. Despite the softer index performance, several resource-focused companies delivered project updates spanning Brazil, West Africa and Australia. You can read about the following and more throughout the day.
St George Mining secures strategic land at Araxá
St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has entered into a binding agreement to acquire a 166-hectare parcel of land to support potential development of its Araxá niobium and rare earths project in Minas Gerais, Brazil.
The land is located less than 2km from the Araxá mining tenure and is zoned for mining and industrial use. It is flat-lying and cleared, making it suitable for processing and related operational facilities should the company advance the project toward development.
Aurum Resources reports high-grade gold at Boundiali
Aurum Resources Ltd (ASX:AUE) has returned high-grade gold intercepts from its ongoing 100,000m diamond drilling program at the 2.41Moz Boundiali Gold Project in Côte d’Ivoire.
Drilling at the BDT3 deposit delivered results including 9m at 8.15g/t gold from 207m, including 2m at 35.83g/t, and 9m at 8.00g/t from 223m, including 1m at 70.37g/t. At the BST1 deposit, results included 10m at 2.51g/t from 170m and 18.4m at 1.04g/t from 240m.
The drilling is aimed at expanding the resource footprint and increasing classification confidence ahead of a mineral resource estimate update expected this quarter.
Elixir Energy completes Lorelle-3 drilling
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has drilled the Lorelle-3 pilot well to a total depth of 3,580m measured depth below rotary table in ATP2056 in Queensland’s Taroom Trough.
Logging-while-drilling tools observed the primary, secondary and tertiary Permian reservoir targets, with elevated mud gas recorded. The Tinowon ‘Dunk’ Sandstone, the primary target, is interpreted to be 60m thick, with 18m of core recovered from the upper zone. Sections of the core were described as high quality.
Wireline logging will now be undertaken to confirm reservoir thickness, rock quality and hydrocarbon saturation across the targets.
West Coast Silver appoints technical director
West Coast Silver Ltd (ASX: WCE), which is advancing the Elizabeth Hill Silver Project in Western Australia’s Pilbara region, has appointed Serge Smolonogov as technical director – growth & development, effective immediately.
The company said the appointment strengthens its technical capability as drilling continues at the flagship high-grade silver project.
Accelerate Resources identifies new manganese prospects
Accelerate Resources Ltd (ASX:AX8) has reported results from mapping and rock chip sampling across the El Largo Corridor at its Woodie Woodie North Manganese Project in the East Pilbara.
The program confirmed multiple new high-grade manganese prospects along a 3.2km corridor of intense hydrothermal alteration within the Carawine Dolomite, the same formation that hosts the Woodie Woodie manganese mine, located 70km to the south.
The company said the results expand the project’s potential, highlighting what it described as a new high-grade manganese centre within the 432km² tenure, with 7 mapped manganese corridors extending over 35km of strike.