Stocks of the Hour: Invictus Energy, OD6 Metals, Predictive Discovery

Company News

by Abbey Phillipps

Invictus Energy (ASX:IVZ) provided an update on the Mukuyu-1 well that is currently being drilled in its 80% owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin. The update shows elevated mud gas readings, fluorescence in the cuttings, elevated LWD resistivity and increasing background gas with depth. Commenting on the news, Managing Director Scott Macmillan, stated, “Early indications in our Upper Angwa primary target are highly encouraging and have proven a conventional working hydrocarbon system in the Cabora Bassa Basin, which is an exciting development validating our subsurface model. Shares are trading 100 per cent higher at 21 cents.

OD6 Metals (ASX:OD6) announced their initial assay results from the recently completed drilling campaign at its Splinter Rock Project northeast of Esperance in Western Australia. Splinter Rock contains widespread, thick clay hosted rare earth element (REE) mineralisation. Some highlights included, outstanding assay results returned from initial 65 holes of the completed 179-hole program and high-grade clay-hosted rare earths confirmed, with large thicknesses over extensive areas. In response, Brett Hazelden, Managing Director, commented, The extent and consistency of these shallow, high-grade clays have resulted in four significant prospects being identified that are between four and seven kilometres in width which are open in length, on our 2,579km2 Splinter Rock project. Shares are trading 47.8 per cent higher at 34 cents.

Predictive Discovery (ASX:PDI) provided an update on assay results from 51 holes for 10,122m of infill and grade control drilling at the Bankan Gold Project. The New diamond drill results produced significant wide and/or high-grade intercepts within NE Bankan’s US$1,800/oz optimised resource pit shell. Commenting on the results, Managing Director Andrew Pardey, said, “these results are from within the optimised resource pit shell and are aimed at providing further certainty of the tonnes and grade ahead of ultimately building and mining the NE Bankan deposit.” Shares are trading 1.4 per cent higher at 18 cents.

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