Perth, Western Australia - Wednesday April 13, 2022 |
Macarthur puts $816m net present value on WA magnetite play
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Macarthur Minerals has completed a feasibility study on its Lake Giles magnetite iron ore project in WA that points to a whopping pre-tax net present value for the project of $816m. The project lies 250km northwest of Kalgoorlie and houses a massive reserve of 237 million tonnes at beneficiated grades of 66.1 per cent iron with a minimum 25-year mine life. |
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Triangle books 370 per cent Perth Basin upgrade |
Triangle Energy’s imminent acquisition of a highly prospective Perth Basin block has been boosted by news it has delivered a 370 per cent increase in its best gas resource estimate – from 165 billion cubic feet of gas to 617bcf. Triangle is buying the 50 per cent it doesn’t already own in the acreage from departing partner Key Petroleum. |
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American West onto 54 per cent direct ship copper |
American West Metals says the results of a recent ore sorting program using material from its high-grade Storm copper project in Canada have delivered extraordinary results that could be a “game changer” for the project’s development. The company said test work using a full-scale ore sorter has generated a direct shipping ore product with a copper grade of 53.9 per cent free of impurities. |
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White Cliff seals WA lithium acquisition
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White Cliff Minerals has bolstered its battery metals ambitions after completing the acquisition of explorer Abraxis Mining and its trinity of WA-based tenement applications in the Pilbara that are prospective for lithium. According to the company, a subsequent review of remote satellite data has uncovered a network of pegmatite-rich target areas that will be further assessed through a maiden mapping and sampling program. |
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Tietto scrubs up African gold resource ahead of production
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Tietto Minerals has tabled a maiden “measured” gold resource of 7.7 million tonnes going 1.4 grams per tonne for 350,000 ounces of the precious metal at its remarkable Abujar project in Côte d’Ivoire, West Africa. According to the company, the resource was defined through shallow infill drilling at its AG Core pit and has significantly de-risked the first two years of production at the venture. |
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Caeneus completes phase 1 of WA nickel probe
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Caeneus Minerals has wrapped up phase 1 of an RC drilling program at its wholly-owned Pardoo nickel deposit, part of its larger Pardoo project about 120 kilometres from Port Hedland in Western Australia. The probe saw the company sink 14 holes totalling 1708 metres to evaluate the ground’s historic nickel mineralisation and investigate the tenure’s platinum group metal potential. |
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High-grade hits for Venus, Rox ahead of gold tally
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Junior explorer Venus Metals Corporation and its joint venture partner ASX-listed Rox Resources have encountered more high-grade results ahead of a near-surface resource update at the Youanmi gold project near Mount Magnet in WA. Results from the latest drilling include significant hits up to 1 metre running 13.44 grams per tonne gold which will feed into a near-surface mineral resource update expected in the next two weeks. |
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Cyclone unearths gold nuggets near Karratha |
ASX-listed Cyclone Metals has unearthed gold nuggets up to 20.5 grams at its wholly-owned Nickol River project in Western Australia’s West Pilbara region. The latest nuggets come from the 18 test pits dug in January and weighing up to a total of 76 grams of the precious yellow metal. The explorer says with the latest results in hand, planning for a maiden drill program will now begin. |
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Superior boosts Qld gold resource |
Junior explorer, Superior Resources has boosted its Steam Engine gold resource to 196,000 ounces representing an increase of over 60 per cent compared to previous calculations incorporating a lower grade owner-operated processing model. The latest resource estimate takes in an additional 85 reverse circulation drill holes completed during the company’s 2021 drilling blitz at its Greenvale project in northern Queensland. |
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Latin makes 3 per cent lithium strike in Brazil
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Latin Resources believes it could be on the verge of a major new lithium discovery after drilling confirmed the continuity of high-grade lithium-rich pegmatites at its Salinas project in Brazil. Two diamond drill holes returned high-grade lithium peaking at 3.07 per cent with intersections including 17.38 metres going 1.46 per cent and 17.05m grading 0.95 per cent lithium. Mineralisation is open in all directions. |
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St George extends nickel-copper deposit in WA
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St George Mining has intersected nickel-copper sulphides in the second drillhole targeting an extension to its high-grade Stricklands deposit in WA. Nickel-copper sulphides were located from 102.7 metres to 106.3m downhole including 0.25m of massive sulphides abutting the granite contact from 106.05-106.3m. Drilling has confirmed a western extension of approximately 35m to the existing high-grade Stricklands deposit with mineralisation open down dip. |
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Mt Malcolm kicks of Leonora gold probe
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Junior gold explorer, Mt Malcolm Mines has begun probing the depths of its Dumbarton prospect within the company’s Malcolm project near Leonora in Western Australia. Historical workings have coughed up more than 300 ounces of gold with little systematic modern exploration to chase up the bedrock source. Up to 1500 metres of RC drilling will follow up encouraging historical intercepts including 4m at 7.44 g/t gold. |
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88 Energy banks first Texan oil and gas cash
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88 Energy’s move to Texas is putting some colour into the ASX-listed company’s bank account after it banked the first A$600,000 cheque in March from its Project Longhorn. The company has lifted production from the Permian Basin project by over 30 per cent to more than 400 barrels of oil equivalent per day after the first of its planned capital-efficient workovers. |
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Antilles hits more high-grade Cuban gold and silver
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Antilles Gold continues to extend its high-grade gold and silver La Demajagua project in Cuba. Assays from 30 diamond core holes include 10 metres at 12.15 grams per tonne gold, 8m going 14.3 g/t gold and 278.9 g/t silver and 11m grading 8.87 g/t gold and 87.2 g/t silver. The project already has resources of 720,000 ounces of gold at 2.9 g/t and more than 9 million ounces of silver. |
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Kalamazoo sights mineralised lithium pegmatites in WA
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After spotting multiple mineralised lithium pegmatites at its Marble Bar lithium project in WA, Kalamazoo Resources has tacked on an additional two tenements bringing its total holdings in the area to 354.4 square kilometres. The explorer says multiple dykes coincide with soil anomalies and contain visible lithium mineralisation in the form of lepidolite – a lithium-bearing mineral. |
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Wiluna boosts WA gold reserves
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Wiluna Mining Corporation has boosted its global ore reserves by 10 per cent, even after mining depletion, to 36.8 million tonnes grading 1.2 grams per tonne gold for 1.42 million ounces of gold at its namesake WA operation. The company posted an impressive 31 per cent increase in underground ore reserves to 861,900 ounces grading 4.11 g/t gold as it looks to focus on optimising Stage 1 development. |
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