Chaarat Gold Holdings Ltd (LON:CGH) shares surged on Wednesday after it reported a “significant increase” in the resource at its Tulkubash deposit in the Kyrgyz Republic.
The exploration firm said the updated measured and indicated (M&I) mineral resource was now over 1.6mln ounces of gold, an increase of 15% since an interim resource update in September 2018.
It proved to be a busy week for Chaarat, which also received anti-monopoly clearance for the Kapan acquisition.
Sunrise Resources Plc (LON:SRES) was another in demand, this time on Thursday, after it reported positive results from the testing of perlite samples from new discovery areas of its NewPerl project in Nevada.
The resources developer said expansion testing of reconnaissance samples taken in October had indicated that the majority were suitable for the production of horticultural grade perlite, and now the project could move “quickly” toward drilling, bulk sampling, and commercial scale testing.
ECR Minerals PLC (LON:ECR) has submitted nine new exploration licence applications covering 1,600 square kilometres of potentially gold-rich land in the Yilgarn region of Western Australia.
Collectively, the licences will be called the Windidda gold project and will, when granted, complement the firm’s existing gold exploration portfolio in Victoria, Australia.
ECR reckons Windidda has “significant potential” to contain Archaean greenstones, which host many of the world’s most prolific gold deposits.
Richland Resources Ltd (LON:RLD) has extended the maturity date for its convertible loan facility as the gemstones developer continued discussions over the Capricorn sapphire mine in Queensland.
The AIM-listed company signed a second addendum to its pre-existing loan facility to extend its maturity date from 31 December 2018 to 28 February 2019, for no additional consideration.
Regarding the Capricorn project, Richland said it was continuing discussions with one party relating to the potential sale of the site, adding that it was also pursuing its strategy of securing investment to potentially restart production at the project.