The S&P/ASX Small Ordinaries Index (ASX: XSO) gained 72.3 points, or 2.13%, on Friday to close at 3,462.90. Despite the strong daily performance, the index remains down 17 points, or 0.49%, over the past five trading sessions. Several small caps have hit the ground running this morning and you can read about the following and more throughout the day.
Dalaroo expands Gold Ridge strike to 7km with high-grade soil results
Dalaroo Metals Ltd (ASX:DAL) has expanded the known gold system at its Gold Ridge Project, with latest soil geochemistry results extending the mineralised trend to around 7 kilometres of strike.
The program identified three large-scale drill target clusters and returned a peak soil assay of 23.26g/t gold. Multiple additional results above 1g/t gold were also recorded, reinforcing the strength of the geochemical signature across the project area.
Management said the results continue to demonstrate the project's exploration potential and will assist in prioritising upcoming drill testing.
Elixir completes DFIT at Lorelle-3H well in Taroom Trough
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has completed a diagnostic fracture injection test (DFIT) at the toe end of its Lorelle-3H appraisal well in ATP 2056 within Queensland's Taroom Trough.
Initial pressure monitoring indicates a preliminary reservoir pressure of about 6,350 psi, which the company said aligns with expectations and regional observations.
According to Elixir, the pressure results confirm an over-pressured gas gradient of approximately 0.6 psi per foot, supporting the prospectivity of the target reservoir as appraisal activities continue.
Janus Electric strengthens leadership team for international growth
Janus Electric Holdings Ltd (ASX:JNS) has announced a series of board advisory and leadership appointments aimed at supporting its next phase of commercial execution across Australia, New Zealand, the United States and Canada.
The appointments are designed to bolster expertise in transport and infrastructure strategy, North American market development and operational scale-up.
Janus said the expanded leadership capability will help drive commercialisation of its heavy vehicle electrification platform as the company pursues growth opportunities in key international markets.
Yandal identifies potential extensions at Flushing Meadows
Yandal Resources Ltd (ASX:YRL) has reported encouraging drilling results from the Flushing Meadows deposit within its Ironstone Well-Barwidgee Gold Project in Western Australia.
The current drilling campaign began with reverse circulation pre-collars drilled to fresh rock ahead of planned diamond drilling. Assays have now been received from all eight RC pre-collars, with several significant intercepts pointing to potential mineralisation east of, or within the hanging wall of, the existing 268,000-ounce mineral resource estimate.
The results follow observations from diamond hole 26IWBRC0095D, which identified multiple parallel structures above and below the targeted Flushing Meadows mineralised zones. Yandal believes the latest drilling continues to highlight opportunities to grow the resource through further exploration.