Stocks of the Hour: VSR, CNB, VAL, NSM

Company News

by Abbey Phillipps

Voltaic Strategic Resources (ASX:VSR) provided an update this morning on its Gascoyne REE and Battery Metals Project located in WA. An ongoing review of historical data within the Company’s ‘Paddys Well’ has confirmed multiple REE occurrences within both historical drill core and surface rockchips. Voltaic’s CEO, Michael Walshe, commented “The historical drill results are extremely encouraging for the REE prospectivity of the region. We have observed elevated REE values over several significant widths. Moreover, the mineralisation appears to have a high proportion of the in-demand ‘magnet’ REEs, which is encouraging for potential economic extraction in the future. Shares are trading 4.2 per cent higher at 3 cents.

Carnaby Resources Limited (ASX:CNB) announced this morning further exceptional drill results from the Mount Hope Prospect in Mt Isa, Queensland. The Company’s Managing Director, Rob Watkins commented “The outstanding result of copper is the widest and highest grade drill result yet recorded throughout the Greater Duchess Project, even surpassing the original discovery hole. These exceptional drill results from Mount Hope are pointing towards a very material and growing discovery. With numerous IP anomalies, structural targets and obvious direct extension drill targets to the results announced today, we look forward with great anticipation to the unfolding discovery at Mount Hope”. Shares are trading 27.5 per cent higher at 95 cents.

Valor Resources (ASX:VAL) announced exceptional Uranium and Copper rock chip results at Surprise Creek. The findings found up to 6.13 per cent uranium and 61.7 per cent copper. In response, Valor Executive Chairman stated, “We are seeing two potential target types emerge - one primarily for uranium with associated copper in the northern part of the project and another in the south and central part of the project comprising just copper.” Shares are trading 6.7 per cent higher at 1 cent.

North Stawell Minerals (ASX:NSM) have today announced that the first of the follow up (Phase 2) air core drilling programs has confirmed higher grade gold within the broad, gold-anomalous halo identified in previous, regional, AC programs. NSM’s first Phase 2 drilling (infill) has successfully upgraded a broad, low-grade gold anomaly identified beneath cover into a significant gold intercept for further appraisal. In response, North Stawell Minerals Chief Executive Russell Krause said, “The success highlights the efficacy of NSM’s exploration strategy which we continue to deploy with confidence upon other targets within our temenent package. Drilling recommences in November, 2022.” Shares are flat at 14 cents.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?