Resources Top 5: Lithium newbie James Bay Minerals making more gains; Widgie hits ripper nickel grades

• James Bay Minerals doubles down with a second beaut morning on the bourse
• Widgie Nickel makes a big nickel sulphide hit in WA 
• Iron ore hunter Juno Minerals turns heads with a lithium find in the Yilgarn

Here are the biggest small cap resources winners in early trade, Wednesday September 13.

 

 

James Bay Minerals (ASX:JBY)

Widgie Nickel (ASX:WIN)

This Western Australian, self-described “aspiring mid-tier nickel developer” is having a very good day on the ASX thus far on the back of confirmation of a big nickel sulphide hit.

The company reports “exceptionally high-grade nickel mineralisation at its 132N project, which is about 6km north west from the Goldfields ghost town of Widgiemooltha and roughly 100km south of Kalgoorlie.

132N forms part of the company’s expansive Mt Edwards project.

The infill drilling program there has revealed (based on assays received from hole 23MERCD112) the following nickel mineralisation results:

9.14m @ 10.44% Ni, 0.75% Cu, 0.13% Co, 1.93g/t 3PGE from 330.00m, including 2.61m @ 18.88% Ni, 0.48% Cu, 0.23% Co, 0.65g/t 3PGE from 335.44m.

 

Apart from being one of the main components used in the production of stainless steel, nickel sulphide is used to make nickel sulphate, a key ingredient in EV batteries. 

The company’s MD, Steve Norregaard is pleased:  “Widgie attracted great interest with the core sample displayed at our Diggers [& Dealers] booth this year for good reason.

“We are delighted to share the assay results for 23MERCD112 validating portable XRF readings announced on the 11 August 2023. This hole drilled through the lower zone of the current 132N resource shape confirms the presence of exceptionally high-grade mineralisation.”

WIN share price

 

Juno Minerals (ASX:JNO)

Could Iron ore hunter Juno be sitting on an exciting lithium haul near its Mount Ida magnetite project? This is the question we’ve asked in a special report published a little earlier today.

The price-pumping fact is, the company has uncovered, via an infill soil-sampling program, what it’s describing via an ASX announcement today as two significant, well-defined lithium-caesium-rubidium-beryllium soil anomalies.

And yep, these are at the Mount Ida project in the Central Yilgarn situated between Perth and Kalgoorlie in WA, which is an iron ore/magnetite-focused operation.

The new lithium results are potentially another string to the company’s portfolio bow. And a promising one, by the sounds.

Our Phase 2 infill soils sampling program south of the Mt Ida #magnetite resource has identified two significant well-defined #lithium, caesium, rubidium and beryllium geochemical anomalies.
Find out more https://t.co/dgTpJ8e3H4$JNO #ASX #exploration pic.twitter.com/UfIj6nYf6S

— Juno Minerals Limited (@JunoMinerals) September 13, 2023

 

The program showed the pathfinder metals associated with spodumene-bearing pegmatites lithium, caesium, rubidium, and beryllium, are all enriched within the well-defined anomalies indicating it is a “fertile” system.

Each anomaly stretches over a kilometre in length and up to 500m wide, with the southern anomaly remaining open to further exploration to the south.

Regionally, the Mt Ida fault in the prolific Yilgarn region of Western Australia is attracting greater interest for its rare metal pegmatites – from the explorers including  Delta Lithium (ASX:DLI) and its now apparent parent Mineral Resources (ASX:MIN).

Delta Lithium’s (ASX:DLI) Mt Ida lithium project is located 19km north of Juno’s Mount Ida lithium prospect and is being developed to initially produce a direct shipping ore (DSO) product with the intention to produce spodumene concentrate.

Mineral Resources (ASX:MIN) has set its sights on Delta’s Mt Ida ground, amassing a 17.44% stake in the company and installing its rich lister boss Chris Ellison as non-exec chair.

Meanwhile, Gina Rinehart, Australia’s richest person and chair of private miner Hancock Prospecting, has increased her exposure to lithium in the region as well.

JNO share price



  

Chilwa Minerals (ASX:CHW)

(Up on no news)

CHW is up double digits for no major reason we’re seeing at the time of writing today.

The heavy minerals sands exploration company listed on the ASX in early July following an $8m IPO at 20c/sh.

Its main game is the namesake Chilwa heavy minerals sands project in southern Malawi, where a 17,000m drilling program is underway with an aim to boost the firm’s 2.4Mt resource.

At this stage the company is targeting a drilling program at its Mposa project, of approximately 6,000 metres with the scope to increase depending on results achieved during the program.

Chilwa’s newly acquired southern tenement extension also directly abuts the ground of rare earths explorer Mkango Resources (TSXV:MKA).

The $8.26m capped stock is currently trading just below its IPO price, and, in fact, has been chopping about below it ever since listing.

CHW share price

 

Burgundy Diamond Mines (ASX:BDM)

Following the completion of the acquisition of the Ekati Diamond Mine in Canada in July, this $248m market-cappped diamond exploration company said it has secured diamond sales of ~US$90m for Q3 CY23 to date, as compared to ~US$81m in the pcp.

Currently, the company has sold 784,000 carats in Q3 CY22 to date, as compared to 901,000 total carats sold in Q3 CY22.

The share price is up about 16% on this news at the time of writing.

 

At Stockhead we tell it like it is. While James Bay Minerals and Juno Minerals are Stockhead advertisers at the time of writing, they did not sponsor this article. 

The post Resources Top 5: Lithium newbie James Bay Minerals making more gains; Widgie hits ripper nickel grades appeared first on Stockhead.

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