EDITION #209
Perth, Western Australia - Wednesday 26 October, 2022
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
Toro tables robust standalone WA uranium project
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Positive results are now in from Toro Energy’s scoping study into a standalone uranium-vanadium mining and processing operation at its Lake Maitland deposit within the company’s broader Wiluna uranium project in WA’s northern Goldfields region. After the cursory size-up, the standalone project currently holds a pre-tax net present value of $610 million and a total capital cost of $270 million. |
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Askari snaps up African lithium project
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Askari Metals has inked a binding heads of agreement with private company LexRox Exploration Services to acquire a 90 per cent interest in its advanced lithium, tantalum and tin project in Namibia, Africa. The advanced project bears visible spodumene mineralisation on its surface with recent rock chip assays delivering high-grade results up to 3.1 per cent lithium oxide, 3.2 per cent tin, 452ppm tantalum and 3387ppm rubidium. |
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Sihayo hits deeper gold amidst new processing play
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Indonesia-focused gold explorer Sihayo Gold has unveiled some compelling drill hits including a standout strike of 11.1m going 7.49 g/t, inside a larger 31.5m hit at 4.29 g/t from 259m in North Sumatra. The results form part of a seven-hole, 2216m diamond drilling campaign designed to test deeper-lying mineralisation below and south of the company’s planned Sihayo open-pit mine. |
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Strickland proposes base metal spin out
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Strickland Metals is looking to demerge its non-core assets and deliver a standalone ASX base metals explorer as the company works to stack on gold ounces at its flagship project on WA’s well-endowed Yandal greenstone belt north-east of Wiluna. The proposed spin-out will see the company’s Iroquois zinc-lead and Bryah Basin assets packaged into a new wholly owned subsidiary that will seek to list on the ASX in the first quarter of 2023. |
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Asra adds critical metals cobalt and scandium to WA play
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Junior explorer Asra Minerals has added critical minerals cobalt and scandium to its rollcall of rare earths at its flagship Mt Stirling project in Western Australia. The latest round of drilling was targeting zones of rare earths mineralisation within the shallow blanket of weathered rocks and hit thick zones of scandium oxide mineralisation with anomalous cobalt. |
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Samples highlight Thailand lithium targets for Pan Asia
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Pan Asia Metals has received encouraging results from rock chip samples at its Bang I Tum prospect in Thailand including 12 of the company’s 64 samples recording lithium oxide levels above 2 per cent. A total of 35 samples had grades higher than 1 per cent lithium oxide with one sample recording an impressive 2.62 per cent. Pan Asia says the average grade of the 35 samples is a solid 1.8 per cent lithium oxide. |
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Twenty Seven Co pursues surface lithium with drill bit
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After a run of rock sampling, Twenty Seven Co has confirmed pegmatite fertility within the company’s Mt Edon lithium, caesium and tantalum mining lease in WA’s Mid West region. Rock samples were found to grade up to 2.7 per cent lithium oxide, 1046ppm caesium oxide and 5057ppm tantalum oxide. A total of nine rock chip samples were taken from four outcropping locations across a pegmatite field spanning 6.4 km. |
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ADX onto commercial oil production with Anshof-3 well
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European focussed producer ADX Energy has commenced commercial production at its Anshof-3 oil discovery well in Austria just two years after securing the necessary exploration licenses to initiate the work. According to the company, the well is pumping out a controlled output of 100 barrels per day from the ground’s oil-rich Eocene reservoirs, which were first discovered in January. |
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White Cliff joins Esperance rare earths hunt
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White Cliff Minerals has added to its rare earth portfolio after acquiring the Lake Tay project in addition to applying for a further 10 exploration licences surrounding the area 120km south-west of Norseman. The company has signed a binding agreement with Hurricane Prospecting for the purchase of the three granted exploration licences that make up the project for $30,000 in cash, $125,000 in White Cliff shares and 2 per cent of net smelter rights. |
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ABx eyes lab reactor design for high-end aluminium product
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Alumina technologist and rare earths explorer ABx Group’s 83 per cent owned subsidiary, Alcore has selected its initial operating conditions for its planned pilot plant on the NSW Central Coast after performing extensive assessments. Now the initial operating conditions have been selected the pilot plant reactor engineering design can be completed. |
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Riedel launches another gold, silver hunt at USA project
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Riedel Resources is spinning its American drill bit for the fourth time in little more than a year and a half as the Perth-based explorer continues to press the case for an open-pit mine at its gold and silver play on the edge of the Mojave Desert. A 20-hole diamond drill program at Riedel’s Kingman project is scheduled to begin early next month. |
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Infill drilling delivers for International Graphite in WA
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International Graphite has returned a clutch of high-grade, near-surface drill hits from a round of infill RC drilling at its Springdale project near Hopetoun in Western Australia’s south. The 14-hole, 912m program was headlined by a 5m intercept at 27.8 per cent total graphite content from 33m inside a larger 11m strike grading 16.1 per cent TGC from 32m. |
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Tambourah signs up experienced geologist as Managing Director
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Tambourah Metals has appointed experienced geologist Caue “Paul” Araujo as its new Managing Director as the company plans to accelerate exploration and development opportunities in the critical minerals sector. Araujo has more than 20 years of international exploration, management and consulting experience across multiple commodities including lithium, nickel, copper and platinum group elements. |
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St George beefs up lithium, nickel chase in Goldfields
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Explorer St George Mining has moved quickly on its discovery of high-grade lithium-bearing rock chip samples at the company’s Mt Alexander project near Leonora, launching its first lithium-focused drill campaign at the project. The 20-hole 2,000m program’s initial focus is Mt Alexander’s Jailbreak prospect where high-grade lithium in outcropping pegmatites has been confirmed by the rock chip assays. |
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Horizon opens $35m vanadium IPO |
An initial public offering for shares in Horizon Minerals’ partly-owned and highly anticipated vanadium spin-out is now open. The holding vessel, Richmond Vanadium Technology is seeking to raise up to $35 million in exchange for public exposure to the proposed development of what is hailed as one of the world’s largest undeveloped oxide vanadium resources |
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