A “stellar” intercept just last week by Western Australia-based Ramelius Resources (ASX: RMS) now tops the 2018 table of ASX and TSX-listed companies’ best drill intercepts so far this year.

The data is provided by RSC Mining & Mineral Exploration, and all commodities are converted to gold-equivalent (Au-eq), based on selling prices for that week sourced from Quandl.
Ramelius hit 20m at 645g/t gold from 28m - including 7m at 1,271g/t gold - in grade control drilling below the Stellar pit at its Mount Magnet operations in WA.

The company, which this month won over takeover target Explaurum after improving a previously snubbed offer, said the discovery was "testament to the ongoing potential for this operation to deliver extremely high-grade plunging ore shoots within and proximal to the known ore system".
In terms of the RSC data, the intercept topped the chart at 12,900 Au-eq.m/t.

It took the lead from Fission Uranium (TSX: FCU), which had held the top spot since January 3 with its 108m at 8.46% U3O8, equating to 11,334.5 Au-eq.m/t.

At the time, the company said the intercept from Patterson Lake South ranked as one of the best drilled at the project and among the best in Canada's Athabasca Basin, home to the highest-grade uranium deposits in the world.

Fission is now progressing towards prefeasibility at PLS.

Those top two results were well ahead of the remaining eight, in a list dominated by gold miners.

The companies were relatively evenly split between the two markets, while four of the top 10 intercepts occurred in Australia, three in Canada and one each in Mali, Papua New Guinea and the Democratic Republic of Congo.

Another intercept from last week has leapt into third spot - Kirkland Lake Gold's (TSX: KL; ASX: KLA) 3,830.4 Au-eq.m/t from the Swan Zone at its high-grade Fosterville mine in Victoria, Australia.

The company's 6.4m at 598g/t gold from 344.5m is among results expected to contribute to "a substantial increase" in the Swan mineral reserves.

This year's ASX market darling Northern Star Resources (ASX: NST) took fourth place with its 3,787.52 Au-eq.m/t.

The WA-based gold miner, which recently added the Pogo gold mine in Alaska to its portfolio, intersected 3.2m at 1,183g/t gold from 187.7m in February at its Kundana operations in WA.

Also at the start of this year, uranium explorer NexGen Energy's (TSX: NXE) January intercept of 3,412.41 Au-eq.m/t at its Rook 1 uranium project garnered it fifth place.

Relatively new WA gold miner Gascoyne Resources (ASX: GCY) was sixth with 2,988 Au-eq.m/t from September at Dalgaranga, where it had poured first gold in May.

K92 Mining (TSXV: KNT), which is ramping up production at the ex-Barrick Kainantu gold mine in Papua New Guinea, took the seventh place with 2,835.02 Au-eq.m/t.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

Part of the Stock Digest family of websites

Small Cap Stock Digest



Name Last Change
DOW 27821.10 0.41%
S&P 500 3108.46 0.38%
NASDAQ 8526.73 0.52%
TSX 17005.82 0.03%
TSX-V 524.14 0.00%

Resource Commodities

Name Last Change
Gold 1466.80 0.52%
Silver 17.05 0.65%
Copper 2.65 2.647
Platinum 901.00 0.67%
Oil 57.11 3.33%
Natural Gas 2.56 1.91%
Uranium 25.88 0.00%