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OCTAVA MINERALS

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NARRYER METALS

NARRYER METALS

(ASX:OCT)

Company Profile

Octava Minerals has wasted no time developing its project portfolio with exposure to clean energy critical minerals and gold in proven discovery areas since listing in September.

OCT’s key asset is the Talga lithium project, within the East Pilbara’s world-class hard rock lithium discovery region where projects of fine pedigree abound.

Talga is just 10km north of Global Lithium’s (ASX:GL1) Archer resource of 18 million tonnes at 1% lithium oxide. It is also geologically analogous to Pilbara Minerals’ (ASX:PLS) Pilgangoora lithium mine, with a resource of 309Mt at 1.14% lithium oxide, 100km to the west.

Since exploration started at Talga in

October, Octava has identified an ~1.5km length pegmatite zone where lithium mineralisation has previously been recorded, as well as multiple new pegmatites with visible indications of lithium mineralisation at the Pinnacle Well prospect. Drilling at the prospect is set to start in Q1 as OCT’s analysis of the project continues.

Talga also has gold potential in an impressive neighbourhood for the yellow metal. Previous exploration of the area has encountered widespread gold and base metal anomalism.

On the gold front, OCT plans to bring in the drill rigs in Q2 this year at two identified priority prospects – Razorback and Cord. These are in the same greenstone stratigraphy and structures as Calidus Resources’ (ASX: CAI) nearby Warrawoona gold mine (1.5 million ounces) and Haoma Mining’s Bamboo Creek gold mine.

At Global Lithium’s (ASX:GL1) Twin Veins prospect, again just 10km to the west, drilling uncovered 12m at 2.95 grams per tonne of gold from a shallow 37m.

Octava’s East Kimberley project comprises Panton North and Copernicus North tenements in the Halls Creek Orogen, a tier one nickel sulphide-platinum group metal province. OCT’s project is right next door to Future Metals’ (ASX:FME) Panton PGM project, which has a 6.9Moz palladium equivalent resource which includes nickel and cobalt, as well as PGMs.

In January Octava and FME announced a

JV agreement. FME will earn up to a 70% interest in Panton North and Copernicus North by free-carrying Octava through to a decision to mine – sole-funding a minimum $2 million worth of exploration over four years.

Results from previous explorers at Yallalong in the West Murchison show it to be prospective for gold, nickel, copper, PGM and rare earth element mineralisation.

The project has a similar geological setting to projects such as Chalice’s (ASX:CHN) Julimar discovery.

Octava is led by a team with more than 40 years’ experience in developing successful resources projects, including Damon O’Meara, non-executive director of Narryer Metals (ASX:NYM) and First Au (ASX:FAU), and Clayton Dodd, who until recently was executive chairman of Podium Minerals (ASX:POD), another platinum group metals explorer developing a project in WA’s Mid-West. CEO and managing director Bevan Wakelam is an experienced geologist and resource marketing executive, who has worked with Rio Tinto (ASX:RIO) and played a key role in the start-up team at Roy Hill Iron Ore.

Key Points

◾ Company Name: Sarama Resources

◾ Company ASX code: SRR

◾ Key Commodities: Gold

◾ Key Personnel: Andrew Dinning, Managing Director & CEO | Simon Jackson, Non-Executive Chairman

◾ Locations: Houndé belt, Burkina Faso

◾ Market Cap as of 25/01/23: $18.61M

◾ 52-Week Share Price Range at 25/01/23: $0.090 - $0.225

◾ W: saramaresources.com

Investment Highlights

◾ 100% owned land position in the heart of two prolific gold belts in SW Burkina Faso, with the Sanutura Project hosting a very large, gold-camp-sized mineralising system.

◾ Value underpinned by a multi-millionounce pit-constrained resource, where a third is in oxides and two-thirds is over 2g/t.

◾ First 20,000m of current 50,000m drilling campaign has intersected multiple areas of near-surface, highgrade oxide mineralisation proximal to but outside the current resource, paving the way for a near-term resource upgrade.

ANDREW DINNING

MANAGING DIRECTOR & CEO

Sarama Resources

(ASX:SRR)

Company Profile

Sarama Resources is focused on establishing a new mining district in southwest Burkina Faso having accumulated a large, strategic landholding that forms a major part of a multi-millionounce regional camp.

The West African gold developer has a controlling position along 70km of the Houndé belt, the most prolific gold belt in Burkina Faso, and one of the most fertile gold belts in West Africa, with the southern end alone having a gold endowment over 20 million ounces.

Sarama’s flagship Sanutura project lies just 60km south of Endeavour Mining’s 5Moz Houndé mine, 120km south of Fortuna Silver’s high-grade

+1Moz Yaramoko mine and 140km south of Endeavour Mining’s 5Moz Mana mine.

Despite these substantial deposits, the belt remains relatively underexplored.

TSX-V listed Sarama, which was listed on the ASX in mid-2022, has already established a substantial ~3Moz resource –of which a third is oxide and two thirds is over 2 grams per tonne.

The Sanutura resource comprises a significant high-grade and oxide component that will underwrite project development and reduce up-front development capital and risk.

Having completed 40% of a +50,000m shallow oxide-focused program, Sarama has so far delivered seven new discoveries outside the existing resource with multiple areas of additional near-surface, high-grade mineralisation uncovered.

The current exploration program is designed to materially upgrade the value and quality of the resource.

The results of the program support the company’s thesis that there is still a significant amount of gold to be discovered near the existing resource.

Sarama is targeting >1Moz of pit-shell constrained oxide resource upon completion of the program.

The Sanutura project is already at a scale that will support a robust economic development, exploiting the large oxide resource and favourable grade profile, which will allow for a simple, scalable, and staged CIL development off a modest capital base.

There is significant regional consolidation opportunity to create a major gold camp, with Sanutura positioned to play a pivotal role in the consolidation and development of the Southern Houndé belt, which is dominated by Sarama and Endeavour Mining.

The regional consolidation opportunity primarily comprises the 0.7Moz Karankasso Project, a joint venture between Endeavour and Sarama, along with Endeavour’s 1.5Moz Bantou project – both of which sit adjacent to Sanutura, creating the potential for a combined +5Moz gold project with 2400sq km of highly prospective ground.

Despite the extensive value of Sarama’s large West African ground position, the company is one of the most undervalued gold stocks on the ASX and TSX-V markets and has significant upside potential with scope to be valued at multiples of the current levels, managing director Andrew Dinning says.

Dinning was previously President of Moto Gold Mines, which discovered the 22Moz Kibali deposit in the DRC – a company which was acquired by Randgold and AngloGold Ashanti for US$600 million in 2009.

KEY POINTS

◾ Company Name: Taiton Resources

◾ Company ASX code: T88

◾ Key Commodities: Gold

◾ Key Personnel: Datuk Siak Wei Low, Non-Executive Chairman | Noel Ong, Managing Director

◾ Locations: Western Australia, South Australia

◾ Market Cap as of 25/01/23:

$15.69M

◾ 52-Week Share Price Range at 25/01/23: $0.190 - $0.250

◾ W: taiton.com.au

Investment Highlights

◾ Newly ASX-listed early-stage explorer focused on discovering large-scale mineral deposits in South Australia and Western Australia utilising funds raised from a successful $7 million IPO.

◾ Dominant landholding at the Highway project underpinned by the same mineralised system that hosts the major Olympic Dam polymetallic mine in South Australia’s Gawler Craton.

◾ Potentially new mineral-rich district in central South Australia with high metallogenic potential and large volume deposits.

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