News that caught my eye this week No. 33 and 34

Lots of interesting programs

Mar 01, 2025

G’day all,

I am publishing all the updates for the last fortnight here. Some weeks are busier than others but I always review the days announcements regardless and and save what sticks out.

After a flurry of results reported, the market has taken a bit of a breather while new drilling campaigns start. Among these are a few interesting targets and a few honorable mentions.

The Tracker

YRL- Siona
ARK.V- Elmes Targets
AQD- Cangallo

Follow ups

None

New interesting targets

Talisman Mining-TLM- Maiden Drill Program Commences at Mabel Creek IOCG Project

Talisman Mining is a quality explorer I keep track of. Currently I am writing a piece about enduring competitive advantages in mineral exploration and one of these is security of funding. Talisman certainly has this as they are independently funded via a 1% royalty coming out of a Mineral Resources run iron ore mine (about 8.6 million AUD over FY24).

The targets in question in this Gawler Craton campaign are IOCG’s as potentially expressed as magnetic and gravity anomalies associated with a E-W structure. Particularly interesting to me is the mention of Mesoproterozoic basin fill associated with the targets. This sort of basin fill is evident in all South Australian IOCG deposits and prospects barring the instances where it has been eroded away.

The thing to keep in mind is that these are all interpretations and drilling must be performed to work out if the anomalies are the products of hydrothermal activity or something acting as a false positive. As far as targets go these are as good as anything out there undercover in South Australia, and as such, of interest to me.

Further tenement and mineralization rationale details were given last year.

Noronex-NRX- Major 500m Step-Out Delivers 33m Cu-Ag Intercept at Fiesta

This is a very nice development for Noronex. This part of the Kalahari copper belt on both the Namibian and Botswanan side of the border is becoming very active both among the junior players involved, mid-tiers such as Sandfire along with the large companies such as South 32, BHP and MMG. Along with the announcement released the company gave a presentation that can be seen below.

For me this is an interesting development and some of the results seen thus far don’t sit too far away qualitatively to how the T3 discovery developed for MOD Resources in 2016 (series of early announcements here, here, here, here and here). As such this looks interesting, albeit it could work out that this is as good as it gets.

Final point to make mention here is that South 32 is funding this work and earning into the project.

Future Metals-FME- Significant Copper-Nickel Discovery at Eileen Bore

As many of you would have worked out so far I am a sucker for a orthomagmatic Ni-Cu-PGE story. This is one of those. I made note of this prospect when the company acquired it some months ago. Their current drilling and interpretation is interesting.

Preceding this discovery the company conducted a gravity survey that outlined a potentially larger intrusive. This was also evident in the magnetics. The previous interpretation of the immediate area of historical drilling was interpreted as a anticline but now is seen as two apotheoses of a mineralized pyroxenite faulted off the top of a large intrusive.

Hole 3 drilled on the northern end of this gravity-magnetic anomaly intersected Cu-Ni-PGE mineralized pyroxenite effectively validating the companies interpretations.

The reason why this is all very interesting is due to the greatly expanded exploration search space and expanded potential mineralized intrusive.

The next challenge here is targeting. By the sound of the announcement some EM was done but ultimately the company will need a cheap targeting method to use to continue exploring. My go to here would be IP as the expectation would be of disseminated and heavily disseminated sulphide in the best mineralized zones.

I watch with interest.

Honorable Mentions

A few of interest this week

S2 Resources-S2R- Geophysics identifies porphyry-style target at Glenlogan

Galileo Mining-GAL- New Assays Confirm Target Zones

Zinc of Ireland-ZMI- Earning into Drill Ready Copper-Base Metal Project in WA

Petratherm-PTR- New Style of Titanium Mineralisation at Muckanippie

Hammer Metals-HMX- IOCG Drilling Begins at Bullrush JV with Sumitomo

Legacy Minerals-LGM- Large-Scale Airborne Geophysical Survey Underway at Drake

Estrella Resources-ESR-New Discovery at Soru Manganese Prospect

Alligator Energy-AGE- Follow-up drilling commences at Big Lake Uranium discovery

Kingrose Mining-KRM- Kingsrose Acquires the Jakon Project, Finland