All in News

White rock signs $30m farm-in agreement with Sandfire

White Rock Minerals (ASX: WRM) has joined forces with Sandfire Resources (ASX: SFR) to fund exploration and development of new high-grade zinc and precious metals volcanogenic massive sulphide deposits at the Red Mountain project in central Alaska, under an earn-in and joint venture agreement valued at $30 million. There are already two high-grade deposits at the project with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1Mt of contained zinc equivalent.

Doray chairman reiterates benefits of Silver Lake takeover

Doray Minerals Limited (ASX: DRM) Chairman Julius Matthys reiterated his Board’s support for the Scheme of Arrangement with Silver Lake Resources Limited (ASX: SLR) prior to the vote today by shareholders (carried 99.19% of votes in favour) and option holders (carried 100% of votes in favour) at Scheme Meetings in Perth.

Pending Supreme Court of Western Australia approval of the Scheme of Arrangement, Silver Lake Resources will acquire all issued ordinary shares in Doray Minerals. Mr Matthys said the merger would create an enlarged group which would have two strongly performing gold operations in Western Australia and a balance sheet that would enable the group to extract maximum value from the combined assets and pursue a committed growth strategy.

VRX Silica begins drilling at Muchea and Arrowsmith

VRX Silica (ASX: VRX) has commenced drilling at three of its project areas at the North and Central Arrowsmith Silica Sand Projects, located 270km north of Perth, and its Muchea Silica Sand Project, 50km north of Perth. The aircore drilling program at the Arrowsmith projects follow the Company’s initial shallow hand auger drilling. The drill program is expected to increase the tonnage of sand and also the JORC confidence within the Mining Lease applications at both Arrowsmith project areas.

NTM Gold fills up coffers, drilling underway, after completing DGO placement

Emerging Goldfields explorer NTM Gold (ASX: NTM) has added $1.5 million to its coffers as it eyes another big exploration push at the highly prospective Redcliffe gold project near Leonora. The cash was received from the Ed Eshuys-run DGO Gold (ASX: DGO) in line with a deal struck between the two companies late last year. The DGO placement was priced at 4c a share, a significant premium to NTM's prevailing price of 3.4c. The funds will be used by NTM to accelerate exploration at Redcliffe, where diamond drilling is underway. Redcliffe already hosts a 538,000oz resource, not including new discovery Hub and other prospects due to be drill-tested this year.

Challenger Energy provides half-year update

Challenger Energy Limited (ASX: CEL) has released its half-year report for the six months to December 2018, with the company continuing to pursue its application for shale gas exploration rights in South Africa. As previously indicated, there appears to be newfound political momentum, with an important decision made to abandon the long delayed MPRDA Amendment Bill and fast track a new piece of legislation specific to the petroleum industry.