Monday, January 30, 2023
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Stocks of the Hour: Kogi Iron, New Age Exploration, Voltaic Strategic Resources, Helix Resources

Kogi Iron (ASX:KFE), to be renamed Macro Metals Ltd, is pleased to announce that it has entered into a binding option term sheet to acquire 100% of the Salar Verde Lithium brine-clay project in Chile. Salar Verde Project covers an area of approximately 289km2 in the southern part of the Salar de Llamara in Chile within the “Lithium Triangle”. In response, Non-Executive Chairman, Peter Huljich commented: “The Salar Verde Lithium Project represents an exciting opportunity for the company in terms of diversification of commodity exposure into an integral part of the electrical storage market.” Shares are trading 30 per cent higher at 1 cent.

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New Age Exploration (ASX:NAE) announces that it has received preliminary results from its recently completed first phase of Ultrafine geochemical soil surveys, completed over several selected high priority areas of the Company’s extensive Central Pilbara Gold-Lithium Project in Western Australia. Results from Phase 1 Ultrafine Soil Geochemistry sampling reveal multiple extensive areas of exceptionally strong, coherent lithium anomalism. In response, NAE Executive Director, Joshua Wellisch commented: “The very strong results at both Bullock Well and Quartz Hill clearly demonstrate the exceptional potential our Project area has to host significant high grade, hard rock lithium mineralisation. Shares are trading 25 per cent higher at 1 cent.

Voltaic Strategic Resources (ASX:VSR) has provided an update on its Ti Tree project, located in the Gascoyne region of Western Australia. Following the prior identification of a 22 km cumulative strike length prospective lithium-caesium-tantalum (LCT) corridor, Voltaic is highly encouraged by further interpretative analysis of both hyperspectral ASTER and LANSAT satellite imagery that has generated several priority targets. Shares are trading 19.1 pr cent higher at 3 cents.

Helix Resources (ASX:HLX) has announced the discovery of a large untested DHEM anomaly in addition to the intersection of copper sulphide mineralisation from a bold drilling campaign at its Canbelego Joint Venture (JV) Project located in the Cobar region of NSW. The results highlighted above and described fully in the following “Technical Report” section, demonstrate drill hole CANDD015 has identified new, large-scale, conductive targets in an area not previously intersected by any drilling within the interpreted host shears to the Canbelego copper mineralisation. Commenting on these initial results, Helix Managing Director Mike Rosenstreich said, “these results potentially highlight a major new mineralised position – never seen before by local DHEM and never drilled before. The survey has lit up a major robust conductive target associated with mineralised structures which clearly persist with depth.” Shares are trading 7.7 per cent higher at 1 cent.


Peter Milios

Peter Milios is a recent graduate from the University of Technology – majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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