The Day's Play Edition 197: Lithium reserve jumps 250%, Blackbeard extends and gold intersects 38m | PUR, CXO, AS1
Pursuit Minerals (ASX:PUR)
Rio Grande Sur Probable Ore Reserve Increases 250% to 438kt LCE
Pursuit has increased the Probable Ore Reserve at its 100%-owned Rio Grande Sur Project in Argentina by approximately 250%, from 125,000t to 438,000t LCE. The PFS addendum outlines staged production growth from 5,000tpa to 17,500tpa LCE. The lithium carbonate expansion scenario delivers an estimated US$1.09B NPV and 26.2% IRR, while the alternative lithium chloride pathway delivers an estimated US$951M NPV and 27.1% IRR.
Read full ASX Announcement here.
Core Lithium (ASX:CXO)
Blackbeard Extends High-Grade Lithium Intersection to 74m
Core Lithium has extended the previously reported intersection at its Blackbeard prospect within the 100%-owned Finniss Lithium Operation, with final assays from NMRD108 returning 74m @ 1.32% Li₂O from 209m downhole, at an estimated true width of 43m. NMRD110 returned 76.7m @ 0.77% Li₂O from 63.3m, including 21.7m @ 1.28% Li₂O. NMRD108 is the 2nd-longest downhole mineralised intersection recorded at Blackbeard to date. Drilling continues, targeting extensions of the pegmatite system.
Read full ASX Announcement here.
Asara Resources (ASX:AS1)
Sogosogoba Maiden Drilling Intersects 38m at 2.1g/t Gold
Maiden reverse circulation drilling at Asara's Sogosogoba target in Guinea has returned 38m @ 2.1g/t Au from 48m in hole SGRC26-004, including 5m @ 6.1g/t Au from 57m. The same hole also returned an earlier intersection of 15m @ 1.4g/t Au from 9m. A second hole, SGRC26-003, returned 3m @ 5.0g/t Au from 19m, including 1m @ 14.1g/t Au. Both holes were drilled within the primary greater-than-100ppb surface gold anomaly and intersected oxide gold mineralisation. Drilling will continue to test the extent of the mineralised system.
Read full ASX Announcement here.
Alvo Minerals (ASX:ALV)
Florence Drilling Defines 2km Rare Earth Clay Anomaly
Maiden auger drilling at Alvo's Florence prospect in Brazil has identified rare earth-enriched clays across approximately 2.0km by 1.4km. Hole BLH0289 returned 5.7m @ 1,393ppm XREO from 1m, including 4.7m @ 1,496ppm from 2m, with a maximum downhole pXRF reading of 3,396ppm XREO at the end of the hole. A second hole, BLH0290, returned 5.5m @ 1,218ppm XREO from surface. The results are preliminary pXRF readings covering cerium, lanthanum and yttrium only, not laboratory assays or TREO grades. Samples are being submitted to SGS Geosol for full rare earth assays and desorption testing.
Read full ASX Announcement here.
Parbo Resources (ASX:PRB)
5,460m Aircore Completed Ahead of Maiden RC Campaign
Parbo has completed 54 aircore holes for 5,460m across the Oddjob and Goldfinger prospects at Mount Padbury, with all samples submitted for assay. Geological logging identified foliated metabasalt and mafic schist, interpreted as concealed greenstone, although no gold mineralisation has been confirmed. Its maiden 2,450m RC campaign comprises 11 holes, with 5 targeting gold prospects at GoldenEye, Oddjob and Goldfinger, and 6 testing VMS copper-gold targets at Narracoota. The rig is mobilising to GoldenEye, with drilling expected to commence this week.
Read full ASX Announcement here.
Nexsen (ASX:NXN)
RenalSure Targets Mid-2027 FDA Submission as AKI Testing Expands
Nexsen is advancing development and clinical validation of RenalSure®, its proprietary urine-based bedside kidney diagnostic, towards a targeted US FDA submission in mid-2027, subject to successful development and clinical validation. The company has also commenced a feasibility study with Austrian diagnostics company GENSPEED Biotech to evaluate a complementary cartridge-based acute kidney injury (AKI) test using GENSPEED's established micro-ELISA technology. Its existing CE-IVD-marked analyser can measure up to 8 markers simultaneously, delivering results in approximately 15 minutes in existing applications.
Read full ASX Announcement here.
Axel REE (ASX:AXL)
Minas Gerais Formalises Support for Caladão REE and Gallium Development
Axel REE and its Brazilian subsidiary have executed a Protocol of Intent with the Minas Gerais State Secretariat of Economic Development (SEDE) and Invest Minas, formalising state-level support for development of its 100%-owned Caladão Project. The agreement identifies 2 workstreams: rare earth in situ recovery (ISR) field validation scheduled to commence in 2027, and continued development of gallium extraction and processing techniques. Invest Minas will assist with supplier development and project implementation, including building a regional supply chain for field-scale activities. The Protocol is non-binding and does not constitute a funding agreement, permit or licence.