3 ASX mining shares with announcements out this morning

These 3 ASX mining shares have released announcements this morning. We take a look at what has been provided to the market.
The post 3 ASX mining shares with announcements out this morning appeared first on The Motley Fool Australia. –

mining asx shares represented by miner writing report on clipboard

Looks like the ASX-listed mining companies had a busy weekend! There is no shortage of updates and announcements this morning from the resource sector this morning.

To help you get up to speed, here are 3 ASX mining shares with what they presented to the market this morning.

These ASX mining shares have been busy

Benz Mining Corp (ASX: BNZ)

First cab off the ranks, Canada-based Benz Mining. The junior mining company announced this morning that its 50,000 metre diamond drilling program has commenced at its Eastmain gold project.

The drilling program is accompanied by a large surface electromagnetic (EM) survey. A bit of background – the Eastmain gold project is located in Quebec, Canada. Benz Mining has reported that this site currently hosts a JORC (2012) compliant resource of 376,000 oz at 7.9 g/tonne of gold. This being comprised of 236,500 oz at 8.2 g/tonne indicated, and 139,300 oz at 7.5 g/tonne inferred.

Benz Mining highlighted that the first drilling target of the 2021 drill season is the newly identified footwall conductors. Fixed-loop electromagnetic (FLEM) surveys are underway on 3km of potential strike areas. The miner expects 2020 drilling assays to be delivered in the coming weeks.

Benz Mining shares are down 1.06% today at the time of writing.

New Century Resources Ltd (ASX: NCZ)

The $290.38 million market capitalisation ASX mining company, New Century Resources, announced the mark of a milestone this morning. The miner delivered its 500,000th tonne of zinc concentrate. This milestone comes after the ASX mining company restarted operations in late 2018.

Additionally, the company advised it had successfully executed a hedging program to set the minimum price for its zinc at US$2,645 per tonne. This hedging program will be in effect for 100% of March 2021 quarter sales, and 50% of June quarter sales. Due to the nature of the hedge, which uses put option contracts (a form of derivative), the upside is not limited.

New Century noted it intends to release its quarterly results towards the end of January. Shares in New Century have dropped 2.08 % on the news today.

New World Resources Ltd (ASX: NWC)

ASX mining company New World Resources updated the market this morning on drill results at its Antler Copper deposit. Located in Arizona, the copper project has reportedly returned high-grade assays from 3 drill holes.

The results indicate:

  • 4m at 1.13% Cu, 4.08% Zn, 0.42% Pb and 18.6 g/tonne Ag from 290.96m(22.4m at 2.2% Cu equivalent)
  • 6m @ 2.28% Cu, 3.93% Zn, 0.79% Pb and 33.8 g/tonne Ag from 296.57m (8.6m @ 3.2% Cu equivalent)
  • 4m @ 0.88% Cu, 9.67% Zn, 0.07% Pb and 5.9 g/tonne Ag from 307.9m (5.4m @ 3.4% Cu equivalent)

Furthermore, New World Resources stated that a further 8 drilling holes are pending results. Currently the miner has 3 drilling rigs operational.

Shares in the ASX mining company are down 7.81% on the back of the news today.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 ASX mining shares with announcements out this morning appeared first on The Motley Fool Australia.

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