Roast News Service - RNS - Tuesday 28 January 2025

 #GMET #COBR #ATN #PXEN #POLX #ARV #GWMO #AAU #ZNWD #NFX #REE

Guardian Metal Resources plc (LSE:GMET) has confirmed significant copper-molybdenum (Cu-Mo) mineralisation within a hydrothermal breccia zone at the Porphyry South target of its Pilot Mountain Project in Nevada, USA. Highlights include high-grade rock chip samples with up to 1.93% Cu and 287 ppm Mo. The 1,250m x 1,500m Porphyry South target, with a 380m-long mineralised breccia zone, supports the presence of a large Cu-Mo porphyry system, complementing molybdenum-rich drill results from PM24-002. This discovery reinforces Pilot Mountain’s potential as a significant multi-metal project. Further exploration and engineering studies are planned for 2025.@GuardianMetRes 

Cobra Resources plc (LSE:COBR) has successfully produced its first mixed rare earth carbonate (MREC) at laboratory scale from the Boland Project in South Australia, with industry-leading 62.4% Total Rare Earth Oxides (TREO) grade and 14.5% Heavy Rare Earth Oxides (HREO) content. The project, amenable to in situ recovery (ISR) mining, demonstrated high recoveries (59% Magnet Rare Earths, 55% HREO) and low impurities (3.13%). These results validate Boland's potential as a low-cost, environmentally considerate source of strategic metals. Further resource drill results are expected in February, with ongoing optimisation and resource expansion efforts. Managing Director Rupert Verco will host an investor Q&A on 30 January 2025.@Cobra_Resources 

Aterian Plc (LSE:ATN) provides an update on drilling operations at the HCK Project in Rwanda, managed by Rio Tinto. Two holes, each approximately 251.5 m deep, were completed on the HCK-1 target before year-end, intersecting multiple pegmatite dykes. A third hole is in progress. Geological and mineralogical logging is underway, with samples expected to yield geochemical assay results by Q1 2025. The project, part of a JV with Rio Tinto, allows Rio to invest $7.5 million in two stages to earn a 75% interest, with exploration focused on lithium and tantalum. Aterian aims to leverage findings across its broader portfolio in Rwanda, Morocco, and Botswana.@aterianplc 

Prospex Energy plc (AIM:PXEN) announces that Po Valley Energy Limited (ASX: PVE) has received regional approval (INTESA) from the Emilia Romagna Regional Council to commence a 3D seismic campaign on the Selva Malvezzi Production Concession in Italy. This campaign, fully funded by production income, will optimise subsurface drilling targets for four planned wells, targeting 88 Bcf gross (33 Bcf net to Prospex) in contingent and prospective resources. The campaign, using low-impact technology, will conclude within three weeks. The Environmental Impact Assessment for the drilling permits was submitted on 24 December 2024, with drilling anticipated in the second half of 2025.@ProspexEnergy 

Polarean Imaging plc (AIM:POLX) has announced a strategic collaboration with SimonMed Imaging, one of the largest outpatient medical imaging providers in the US, to integrate Polarean's Xenon MRI platform into SimonMed's network. The platform offers advanced functional lung imaging for conditions like asthma, COPD, and unexplained dyspnea. The first installation will take place in Scottsdale, Arizona, later this year, with potential for broader adoption across SimonMed's 170+ facilities. This partnership aims to enhance diagnostic capabilities, improve patient outcomes, and expand access to cutting-edge pulmonary imaging technology.@PolareanImaging 

Artemis Resources Limited (AIM:ARV) announces a substantial drilling program at the Carlow Tenement in the Pilbara region, targeting high-priority gold and copper prospects. Drilling will focus on the Marillion EM anomaly, potential extensions to the 704Koz AuEq Carlow Mineral Resource, and the Titan Prospect, where surface samples have returned grades up to 51.8g/t Au. The program includes RC and diamond drilling to test these targets and a conceptual open pit study for the Carlow resource. The company is also evaluating new exploration opportunities, including the Cassowary Intrusion for potential IOCG deposits. Drilling is set to begin in February 2025, with results to follow.@ArtemisResource 

Great Western Mining Corporation PLC (AIM:GWMO) has completed key regulatory inspections for its Western Milling joint venture in Nevada. The Nevada State Mine Inspector's visit highlighted minor health and safety upgrades needed before pilot production can begin, while the Nevada Division of Environmental Protection confirmed compliance with environmental standards. With no significant issues arising, trial production using gravity separation will commence once minor adjustments are completed. Plans are also underway to enhance precious metals recovery through flotation and vat-contained leaching in future phases.@mining_great 

Ariana Resources plc (AIM:AAU) announces a further US$871k investment by Newmont Ventures Limited under their Exploration Alliance Agreement, securing 28,880,000 ordinary shares at 2.375p per share. Exploration in south-eastern Europe, led by Western Tethyan Resources (76% owned by Ariana), has advanced significantly, with multiple priority targets generated across Kosovo and North Macedonia and initial drill testing at Hertica confirming a Cu-Au-Mo mineralised system. The Alliance, in its third year of a five-year term, aims to identify projects for potential development by Newmont, with pathways to earn up to 85% interest in a mining project subject to funding milestones. Exploration efforts and project pipeline development continue with Newmont's financial and technical support.@ArianaResources 

Zinnwald Lithium plc (LSE:ZNWD), developing the EU's second-largest hard-rock lithium project in Germany, remains on track to publish its Pre-Feasibility Study (PFS) in Q1 2025. Key advancements include detailed mine planning, successful completion of mineral processing and calcination testwork with Metso, geotechnical drilling, and environmental permitting progress. The company is also exploring solar power options to minimize its environmental impact and has applied for EU Strategic Project designation under the Critical Raw Materials Act. Backed by strong local government support and €5 million in cash, Zinnwald is advancing towards producing lithium hydroxide at scale to support Europe's green energy transition.@ZinnwaldLithium 

Nuformix plc (LSE:NFX) has submitted an application to the European Medicines Agency (EMA) for Orphan Drug Designation (ODD) for its lead asset, NXP002, a potential inhaled treatment for Idiopathic Pulmonary Fibrosis (IPF). The application follows a pre-submission meeting where the company was advised to proceed. The EMA’s Committee for Orphan Medicinal Products (COMP) will review the application, with a decision expected within 90 days, followed by formal adoption by the European Commission. Concurrently, Nuformix is in discussions with potential partners for an out-licence or option agreement for NXP002.@NuformixPlc 

Altona Rare Earths plc (LSE:REE) announces that the Monte Muambe project's mining licence (number 11854) in Mozambique has been updated to "active" on the government's mining cadastre system, valid until 20 December 2049. The licence covers rare earths and associated minerals, including fluorspar. This milestone derisks the project, supports ongoing discussions with potential strategic investors, and enables the development of a high-grade fluorspar production operation, subject to the completion of the scoping study announced in November 2024. Formal approval communication from the Ministry of Mineral Resources and Energy is expected soon.@AltonaRareEarth 

                 DAILY ROUNDUP Pre-Market Open

Global markets showed mixed movements on Tuesday, with London’s FTSE 100 expected to edge up 0.2% at the open, while Paris's CAC 40 is set to dip 0.1% and Germany’s DAX 40 to rise 0.4%. Asian markets were subdued, with Hong Kong’s Hang Seng gaining 0.1% before closing for the Chinese New Year holiday, and Japan’s Nikkei 225 falling 1.3%. In the US, tech stocks faced heavy losses as the Nasdaq tumbled 3%, driven by Nvidia's 17% plunge after the release of DeepSeek R1, a cost-efficient AI model from a Chinese start-up, raising fears of price competition in the AI sector. Meanwhile, the dollar strengthened, hitting JPY155.73 and pulling the pound and euro lower. Brent oil edged up to USD77.43, while gold dipped slightly to USD2,739.34. Investors are eyeing US durable goods orders and consumer confidence data later in the day, alongside results from Boeing and LVMH and updates from UK-listed AG Barr, SThree, and Computacenter.