EDITION #172
Perth, Western Australia -Tuesday June 28, 2022
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
IGO snares stake in Venus, eyes lithium JV project |
IGO Limited has snapped up an interest in Venus Metals Corporation after acquiring nine million shares in the company and securing an exploration deal at its Bridgetown Greenbushes project in WA’s South West region. After spending $2.07 million at 23c per share, IGO will secure a 5.6 per cent stake in Venus, making it a substantial shareholder. The project takes in Venus’ Greenbushes East lithium project and its Bridgetown East copper-nickel-PGE project. |
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Antilles eyes second Cuban project at abandoned mine |
Antilles Gold is chasing another project in Cuba after an extensive review of historical geological data underlined the potential of Antonio, a former copper, zinc and silver mine that was abandoned decades ago. The explorer is confident the site can be developed into a small but highly lucrative open-pit mine. Antilles works in partnership with the Cuban Government’s mining company GeoMinera. |
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Panther Metals tables maiden nickel cobalt resource |
Panther Metals has exceeded its JORC exploration target by an impressive 40 per cent with a maiden mineral resource estimate of 70.6 million tonnes at 0.7 per cent nickel at its Coglia nickel-cobalt project in WA. The company’s resource estimate is well above the 50Mt upper limit of its former JORC exploration target and has room to grow from its base of 70.6Mt at 0.7 per cent nickel and 460ppm cobalt for 476,000t of nickel and 32,200t of cobalt contained. |
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CZR iron ore site swells after Pilbara heritage approval |
CZR Resources has been cleared to fast-track drilling after receiving heritage approval that it hopes will lead to a 1.6km expansion of its strike length at the northern extension of its Robe Mesa iron ore project in WA’s Pilbara region. The deposit forms part of CZR’s Yarraloola iron ore project, 120km south-west of Karratha. The company says heritage clearance allows it to drill along strike to the north of Robe Mesa’s current mineral resource. |
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ADX firms up Austrian gas target as prices rocket |
A staggering 742 per cent rise in natural gas prices has market onlookers excited as Austrian producer ADX Energy targets 16 drill-ready prospects, including the giant 800 billion cubic feet Welchau discovery made in 1989. The company was already the benefactor greater margins before Russia’s invasion of Ukraine as European gas prices started to rise with the declining use of coal. |
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American West poised for maiden Canadian copper probe |
American West Metals is hunting down a suite of exploration targets as part of a maiden drill program at its Storm copper project on Somerset Island in Nunavut, Canada. The campaign could start as early as next month and will focus on its highly prospective zone 2750N that previously delivered a set of solid intercepts, including 110m at 2.45 per cent copper from surface and 3.07 per cent copper from 12.2m. |
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Askari uncovers gold nuggets on WA copper gold trail |
Multi-element explorer Askari Metals has turned up 31 gold nuggets using traditional gold loaming at its Horry copper and gold project 90km south-west of Halls Creek, in Western Australia’s Kimberley region. A high-definition magnetic survey was also completed over the project, lighting up multiple structures similar to the source area of gold. The explorer now plans a drilling campaign as soon as possible. |
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Western Mines hits sulphides in WA nickel-copper hunt |
Perth-based mineral explorer Western Mines Group has landed more nickel, copper and PGE hits at its flagship Mulga Tank project in Western Australia’s Eastern Goldfields region after plunging another three holes at the site. The work forms part of an initial 10-hole, 4050m campaign where the company will look to test a flurry of drill-ready targets identified through earlier exploration. |
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Dart showcases mineralisation at Victorian lithium site |
X-ray diffraction analysis has identified four types of lithium-bearing minerals at Dart Mining’s Dorchap Range lithium project in north-east Victoria — confirming the site’s primary mineralisation style as spodumene. Dart’s analysis of 74 pegmatite samples across the Dorchap dyke swarm found notable concentrations of spodumene and petalite that the company says are the main sources of hard-rock lithium ore. |
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IGO doubles down on Metal Hawk nickel play |
Metal Hawk’s dominant partner, the $7.5 billion market capped IGO Limited will inject another $4 million into the duo’s Goldfields joint venture exploration. The stage 2 earn-in deal will give IGO an additional 24 per cent stake in the partnership. After spending $3 million at stage 1, the latest move will lift IGO’s interest from 51 per cent to 75 per cent. |
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Lode confident of silver after another NSW drill hit |
The hits keep coming for Lode Resources at its Webbs Consol project in north-east NSW after its latest drill hole at the company’s Tangoa West prospect found significant mineralisation. The most recent hole intersected 31.1m of sulphide mineralisation with an estimated 7 per cent galena, 5 per cent sphalerite and 1 per cent chalcopyrite from 31m. Lode also expects significant silver mineralisation. |
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Exploration flurry for St George in WA copper play |
St George Mining has tabled a flurry of exploration results across its WA portfolio, including the sighting of visual copper sulphides at its Paterson copper-gold project. The company has also identified a suite of priority drill targets at its Ajana and Mt Alexander nickel-copper-PGE operations through geophysical surveys. |
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SA Government green lights Lanthanein rare earths probe |
Lanthanein Resources has received the green light to commence drilling at its Murraydium ionic clay-hosted rare earths project near Naracoorte in South Australia after receiving exploration and rehabilitation approval from the state Government. The company has drawn up initial plans to sink more than 300 air core holes into its tenure which is located less than 50km from the recent discovery of high-grade rare earths by fellow ASX-listed Australian Rare Earths. |
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Taruga kicks off auger program in copper, rare earths hunt |
Taruga Minerals has hit the ground running with an auger drilling campaign at its fully owned Mt Craig copper project in SA just weeks after receiving a $650,000 exploration funding boost from the state government. The work will be accompanied by high-resolution ground magnetic surveys, geophysical modelling and mapping that will focus on previously undrilled targets ahead of the company’s planned RC drill program at the site. |
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Latin unveils new pegmatite zone in Brazil |
Diamond drilling at Latin Resources’ Colina prospect, part of the larger Bananal lithium project in Brazil, continues to emphasise the operation’s potential, with a recent probe confirming an additional pegmatite zone at depth. The discovery is situated below a previously defined 7.46m intercept that boasted an up to 20 per cent concentration of visual spodumene content. |
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