The junior explorer has found further success during an early-stage drilling program within Australia’s copper-gold hotspot. Drilling continues at Alice Queen s projects in the Northern Molong Volcanic Belt.
Alice Queen Ltd’s (ASX:AQX) latest drilling campaign at its Mendooran Project within the Molong Volcanic Belt (MVB) of New South Wales has extended the target area.
Recent drilling by the gold and copper explorer has confirmed that prospective Macquarie Arc rocks lie a further nine kilometres to Mendooran’s north.
While work at the project is still in its early stages, confidence is building thanks to other discoveries in the area that is within the prolific Lachlan Fold Belt.
Alkane Resources shares surge following further high-grade gold-copper hits at Boda Prospect
Assays received from the current drilling program at Boda and Boda Two comprised of seven diamond core holes for a total of 10,091 metres. 0.3 metres grading 43.4g/t gold, 7.8% copper from 886.4 metres.
Alkane Resources Limited’s (ASX:ALK) shares have surged about 16% intra-day following the intersection of further high-grade mineralisation at the Boda Prospect in Central West New South Wales.
Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project (NMPP), which Alkane believes has the potential to be a large, tier one gold-copper project.
Two diamond core holes at Boda, KSDD029 and KSDD031, were designed to intersect the northwest structural trend and test down plunge of the high-grade breccia identified by KSDD007 and KSDD028.
Image source: Getty Images
At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
Tassal Group Limited(ASX: TGR) is now the most shorted share after its short interest rose slightly to 9.9%. This seafood company has been targeted by short sellers due to weak salmon prices and concerns over the Australia-China trade war.
FTSE 100 bucks up as US indices head north proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Why Afterpay, Alkane, ALS, & Woodside shares are storming higher
James Mickleboro | March 8, 2021 11:32am |
More on:
It has been a fantastic start to the week for the
S&P/ASX 200 Index (ASX: XJO). In late morning trade the benchmark index is up 1.7% to 6,823.5 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The Afterpay share price is up over 3% to $119.06. Investors have been buying Afterpay and other tech shares on Monday following a strong night of trade on the tech-heavy Nasdaq index on Friday. The buying has been so strong that the