RNS Hotlist: Arrow, AfriTin, Altona, Bezant, Caerus, CleanTech, ECR, i3 Energy, Mila, Open Orphan, Serinus

Arrow Exploration (AXL) announced a further update on the Rio Cravo Sur-1 well located on the Tapir Block in the Llanos Basin of Colombia. Spud on May 23, 2022, the RCS-1 well was drilled to a true vertical depth of 8,105 feet on June 3rd. The well has been successfully cased and cemented as of June 6th. The company said initial evaluation continues to demonstrate the multi-zone potential of this fault bounded structure. Known zones were penetrated at the highest structural elevations yet. As well, 2 new oil-bearing zones have been identified which will add materially to the overall field development plan.

AfriTin Mining (ATM), an African technology metals mining company, announced initial results for the lithium and tantalum drilling programme at the Company's flagship operation, the Uis Mine. The company said these drilling results which have produced lithium grades surpassing its expectations and reinforce the belief that Uis is host to one of the largest lithium resources globally. While the V1/V2 pegmatite displays impressive dimensions and is open-ended at depth, a multitude of surrounding pegmatites present significant upside potential.

Altona (AQSE:ANR), a mining exploration company focused on Rare Earth Elements mining projects in Africa, updated shareholders with preliminary results from its Phase 2 drilling programme at its flagship project, Monte Muambe, in Tete Province, Mozambique, held under Prospecting Licence 7573L. The company said its strategy for Monte Muambe is twofold; to work to our schedule to define the orebodies and, produce a Resource Estimate and PEA which will define the value of the asset. Both of these aims are on track to be completed on time and within budget.

Bezant Resources (BZT), and Caerus Mineral Resources (CMRS) the exploration and resource development companies, provide Shareholders with the drill results for the Anglisides Licence, a satellite project of the Troulli Joint Venture. Bezant said it was “very pleased” with this round of results from the Anglisides deposit and with the widths and the associated grades. It would appear that this material will be in general free digging and will not require its own dedicated process plant, since Troulli is a truckable distance and the proposed plant will be fit for purpose.  The addition of Anglisides suggest that the original prognosis of 8,000 tonnes per year contained copper for 8 years, is very feasible.

CleanTech Lithium (CTL), an exploration and development company, announced the completion of laboratory scale Direct Lithium Extraction test-work to produce a 1kg sample of lithium carbonate and laboratory analysis of the sample. The company said the results of the laboratory scale DLE testwork produced a high-quality battery grade sample with a Lithium Carbonate grade exceeding 99.9%.

ECR Minerals (ECR), the exploration and development company focused on gold in Australia, announced a progressive update from drilling at HR3, Bailieston with high gold intercepts received for hole BH3DD034. Visible gold was previously announced from this hole on 14th March 2022.

Mila Resources (MILA), the post-discovery gold exploration accelerator, announced that it will be hosting an investor event on Tuesday 14 June at 17:00 BST in Central London. The event is open to all existing and potential shareholders and will provide an opportunity to meet with the Company's Board and management team. mila@stbridespartners.co.uk is the email to find out where the event will be held for fans of Mila.

i3 Energy (I3E), an independent oil and gas company with assets and operations in the UK and Canada, announced its July 2022 dividend totalling £1.6996 million amounting to 0.1425 pence/share. Payment to shareholders will be made on the Dividend announcement date, 8 Jun 2022.

Open Orphan (ORPH), a specialist contract research organisation, announced the appointment of Martin Gouldstone as an Independent Non-Executive Director of the Company with effect from 8 June 2022. Gouldstone will also Chair the Audit & Risk Committee and will be a member of the Nominations Committee and the Remuneration Committee.

Serinus Energy (SENX) said that the exploration drilling program in Romania is progressing and the work to prepare for drilling is ahead of schedule. The company's plan is to drill two wells sequentially into two separate natural gas prospects located near the Moftinu gas field and gas plant. Subject to the results of the first two wells the company anticipates drilling a third well to complete this 2022 drilling programme.