Home Finance specialist Resource Summary – June 16

Resource Summary – June 16

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The NT Independent provides you with up-to-date resource news from across the Northern Territory. This week, Emerson Resources is receiving $3 million in government grants for exploration projects at Tennant Creek, Lithium Plus is set to begin drilling at its flagship Bynoe project in the territory, and more.

Emmerson secures $3 million government grant for Tennant Creek exploration

Emmerson Resources (ERM) has received up to $3 million to fund its three exploration projects in the Tennant Creek mineral field in the territory.

Under the NT Government’s Collaborative Geophysical and Drilling Program, ERM will receive up to $3 million from the NT Geological Survey after the company submitted three bids for its gold-copper-cobalt and mineral projects. iron oxide.

The grant will be used for brownfield preservation of remaining magnetization and petrophysical targeting at Golden Forty South, brownfield diamond drilling at Golden Forty East, and brownfield targeting with a high-definition drone magnetic survey.

“Further discoveries in the Tennant Creek mineral field will benefit other explorers in the exploration hotspot,” said ERM Managing Director Rob Bills. “The awarding of three out of three co-funding grants is a testament to Emmerson’s scientific approach to exploration.”

ERM is the first company since 2008 to employ new exploration techniques, technologies and concepts, having consolidated a 1,706 km² package of properties at Tennant Creek.

Lithium to begin drilling at its flagship Bynoe project in the Northern Territories

Lithium Plus Minerals (LPM) will begin its drilling program at the Bynoe lithium project in the territory after its mine management plan was cleared by the NT Department of Industry, Tourism and Commerce for buildings EL31133 and EL31091 .

GeoDrilling, a Darwin-based contractor, will undertake 10,000 meters of reverse circulation (RC) drilling. The drilling phase is focused on the Lei and Cai prospects and is expected to take approximately four months to complete.

“We are delighted to have found a locally based drilling contractor with extensive experience in the Bynoe pegmatite field for the 2022 field season,” said LPM Executive Chairman Bin Guo. “With all permitting activities now complete, we look forward to the rapid mobilization of the RC rig at Bynoe and the start of drilling in the coming weeks.”

NT-focused Kingsland Minerals shares slide 15 cents on ASX debut

The worst-day listing on the ASX for two years has proven disastrous for Northern Territory-focused explorer Kingsland Minerals. Kingsland shares lost a quarter of their original offer value after closing at 15 cents per share on Tuesday, following an initial public offering that raised $4.7 million at 20 cents per share.

Kingsland chairman Mal Randall, however, is confident his shares will rebound given the potential of his land ownership.

The company is focused on its Allamber uranium and copper project in the territory near Pine Creek. It also holds three other NT projects at Shoobridge, Woolgni and Mt Davis which are potential for uranium, gold and base metals.

Kingsland’s management is made up of winemaker John Casella, corporate finance specialist Bruno Seneque and geologist Nick Revell. Kingsland is led by experienced geologist Richard Maddocks as managing director.

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