The ASX has tread water today.
The S&P/ASX200 is just 6.40 points down to 8,103.50. Over the last five days, the index has gained 0.40% and is currently 0.55% off of its 52-week high.
Bottom-performing stocks in this index are Liontown Resources (ASX:LTR) Ltd and Mineral Resources Ltd (ASX:MIN), down 8.12% and 7.04% respectively. Neither had any news today.
Only two sectors were in the green today: Information Technology and Financials gained 1.05% and 0.90% respectively. It was the red that dominated, with Consumer Staples losing 2.05% and Materials falling 1.22%.
The small cap index fell marginally down 0.057% to 2,985.80. Over the past five trading days, the index has lost 1.06%.
The market looks to be crawling into tomorrow’s GDP figures.
Golden Deeps gains 164+%
It was a spectacular day for Golden Deeps Ltd (ASX:GED) after it reported the intersection of significant sulphide mineralisation in all three completed diamond drill holes at its 100%-owned Havilah Project in the Lachlan Fold Belt Copper-Gold Province of central NSW.
The company uncovered an 80-metre mineralised zone with high copper and zinc content. Initial readings show up to 18.5% copper and 34.8% zinc in drill core samples.
The company's third drill hole, HVD003, was aimed at testing the Hazelbrook target, which is characterised by a copper-zinc soil anomaly trending northeast-southwest. This anomaly includes rock chip samples that have shown copper concentrations exceeding 1%.
Drilling of HVD003 identified a sulphide mineralised zone extending from 85 metres to 119 metres depth. Within this zone, chalcopyrite (a copper sulphide) and sphalerite (a zinc sulphide) were observed as patches and stringers, averaging between 1% and 2% in concentration.
The mineralisation is found within extensively altered Ordovician mafic volcanic and volcanoclastic rocks. Additionally, disseminated chalcopyrite, sphalerite and pyrite mineralisation was identified over a broader interval from 85 metres to 166 metres, covering more than 80 metres in total.
Golden Deeps CEO Jon Dugdale said: “The intersection of sulphide mineralisation in all three initial holes at Havilah, including thick zones of copper and zinc sulphide mineralisation in HVD003, indicates we’re on top of a large porphyry-sulphide system with similar characteristics to other major copper-gold discoveries in the Lachlan Fold Belt such as Cadia-Ridgeway and the recent Boda-Kaiser discovery
“We look forward to completing the remainder of our diamond drilling program and receiving the laboratory results from the holes completed, which will be released as soon as they come to hand and are compiled.”
Five at five
American Rare Earths grows CSM potential with new results up to 299.1 metres at 4,393 ppm TREO
American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has further evidence of the upside potential of the Halleck Creek area in Wyoming, USA, with the latest results from the Cowboy State Mine (CSM) area returning up to 299.1 metres at 4,393 ppm total rare earth oxides (TREO).
Read more
Orthocell lifts revenues as it continues to improve quality of life for patients
Regenerative medicine company Orthocell Ltd (ASX:OCC, OTC:ORHHF) is focused on improving patients’ quality of life by developing and manufacturing collagen medical devices and cell therapies that restore mobility, function and performance. During the 2024 financial year Orthocell reported total revenue of A$6.76 million, up 30.48% from A$5.17 million in FY23.
Read more
Orion Minerals confirms high-quality historical drilling database with diamond drilling at Okiep Copper Project
Orion Minerals Ltd (ASX:ORN, JSE:ORN) has received final assays from a confirmation diamond drilling program in the Flat Mines area of its Okiep Copper Project in the Northern Cape, South Africa, with the results confirming the high quality of the large historical drilling database Orion inherited from Newmont and Goldfields.
Read more
Forrestania Resources strengthens focus on gold and copper
Forrestania Resources Ltd (ASX:FRS) will strengthen its focus on Western Australian gold and copper projects after choosing not to proceed with an option to acquire the Koolyanobbing Fe Project through its holding company, Netley Minerals Pty Ltd.
Read more
Green Technology Metals extends lithium mineralisation, sets maiden exploration target at Junior
Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has had further exploration success and established a maiden exploration target at its Junior Lithium Project as the company continues to build a pre-eminent vertically integrated lithium business in Ontario, Canada.
Read more
On your six
Coronary disease breakthroughs point to future reduction in deaths
Coronary disease is the leading cause of death in Australia, currently responsible for approximately 24% of all deaths. The World Health Organisation (WHO) suggests 17.9 million people, but as Jonathan Jackson writes the numbers are decreasing.
Read more
The one to watch
FireFly Metals nears resource update for Green Bay with high-grade copper-gold results
FireFly Metals Ltd (ASX:FFM) managing director Steve Parsons joins Jonathan Jackson in the Proactive studio to discuss how the company is advancing towards a potentially significant resource update for its Green Bay Copper-Gold Project in Canada, expected before the end of October 2024.
Watch