Small Cap Watch: Explorers advance drilling, surveys and resource work

The S&P/ASX Small Ordinaries Index gained 18.10 points, or 0.54%, on Wednesday to close at 3,342.70. Despite the positive session, the small-cap benchmark remained 35.70 points, or 1.06%, lower over the past five trading days. Against this mixed market backdrop, several junior explorers have this morning reported progress across drilling, resource definition and regional targeting programs in Australia, South Africa and Greenland.

D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) has successfully spudded the first of two planned wells at the Nooitgedacht NGT245 E site within the ER315 permit in South Africa’s Free State. The drilling marks the next stage of the company’s exploration and appraisal program, which is designed to expand the reserve base within ER315 and support the conversion of additional exploration areas into production rights. Nooitgedacht lies about 43 kilometres north of the Bloemskraal area, where D3 Energy has already booked reserves underpinning a production right application lodged last year. The prospect is positioned along the Homestead Fault, a major geological structure extending through the northern part of ER315.

Dalaroo Metals Ltd (ASX:DAL) has completed independent ground penetrating radar and single beam echo sounder surveys at its wholly owned Blue Lagoon Rare Earth Project in southern Greenland. The surveys have provided the first comprehensive three...