EDITION #225
Perth, Western Australia - Thursday December 22, 2021
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
Xanadu secures Zijin support for Mongolian copper project
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Xanadu Mines is one step closer to finalising its phase two and three investment agreement for its Mongolian projects with Zijin Mining Group after the formal documentation for the deal was executed. Once approvals have been met, Xanadu will use Zijin’s investment to continue exploration of its prospective Red Mountain project in addition to making a final investment decision on taking its Kharmagtai project to the construction phase. |
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CZR snaps up key Pilbara iron ore tenement from FMG
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CZR Resources has expanded its Robe Mesa project in the Pilbara after agreeing to acquire a nearby tenement from Fortescue Metals Group subsidiary FMG Pilbara to the south of Rio Tinto’s Mesa F iron ore project. Subject to the completion of the sale, the company will make a cash payment of $150,000 to Fortescue in addition to 3.3 million CZR shares and a 1 per cent free-on-board revenue royalty covering any future production from the site. |
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Chinese battery giant takes stake in St George Mining
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A subsidiary of Chinese battery manufacturer Sunwoda has taken a stake in St George Mining as it works to define a potentially significant lithium deposit in WA’s Goldfields near existing BHP and IGO mines. The move comes as St George awaits assay results from its maiden drill campaign at Mt Alexander where promising rock chip results going up to 3.25 per cent lithium. |
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WA gold results boost ambitions for Brightstar flagship
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Brightstar Resources’ confidence in the potential of its flagship Cork Tree Well project near Laverton continues to grow with gold assays from an extensional RC drill hole providing the latest boost. Results include 6m at 3.17 grams per tonne gold from 182 metres and the additional strike length opened up by the drill hole has persuaded the company to redouble its efforts next year. |
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Blackstone refinery trial backs green Vietnam nickel plan
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Blackstone Minerals has wrapped up a successful pilot of its proposed Vietnamese nickel refinery which has shown the project will boast strong green credentials as it targets Asia’s lithium-ion battery industry. The test churned out 2.2 tonnes of precursor product and achieved battery-grade specification for nickel and cobalt sulphates. Data from the pilot will be used to bring the Ta Khoa nickel project to life. |
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Cazaly joins AuKing for Halls Creek scoping study
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Cazaly Resources’ Halls Creek project will be included in a preliminary mine scoping study after the company signed a memorandum of understanding with mineral explorer and developer AuKing Mining. The study will determine the potential viability of open pit and underground operations centred around AuKing’s Sandiego copper-zinc-silver deposit near Halls Creek. |
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Galan Lithium closes in on maiden WA probe
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An approval for a program of works is now the only thing preventing Galan Lithium from launching a maiden five-hole diamond drilling program at its newly defined Fry’s Block area, part of its larger Greenbushes South lithium project in WA. The campaign is expected to kick off in January and follows the discovery of three compelling pegmatite targets through fieldwork, geochemical analysis and a geophysical data review. |
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Lithium Australia, Charger nail pegmatites in maiden WA campaign
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The maiden RC drilling campaign at Lithium Australia and Charger Metals’ Lake Johnson joint venture project in the Goldfields-Esperance region has enjoyed immediate success with the drill bit. The company says the campaign intersected numerous spodumene-bearing stacked pegmatites between 1 and 5 metres wide within a broad 50m zone that remains open at each end and depth. Field observations include spodumene in 15 of the 17 holes completed. |
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Aruma lands gold hits, tax refund from Pilbara campaign
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Aruma Resources has wrapped up a maiden RC drill campaign at its Pilbara tenements on the edge of the high-grade Paulsens goldmine. The company says results from the Melrose project indicate gold presence in similar host material to the long-serving Paulsens mine where operations could resume in 2024. The company has also received an early Christmas present via an $830,677 tax incentive refund to swell its coffers. |
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Castle tests graphite hits from African prospect
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Graphite samples from Castle Minerals’ Kambale project in Ghana, West Africa are coming to Perth for testing ahead of the company’s anticipated maiden JORC mineral resource early next year. Last month Castle revealed an exploration target of between 16.82 and 50.46 million tonnes going at up to 10.40 per cent total graphitic carbon and the company is now undertaking infill drilling. |
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Westgold on track to hit gold guidance figures
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Gold producer Westgold Resources says it has reduced its total group expenditure by 16 per cent since its peak in March and is on track to hit its financial year guidance of between 120,000 to 130,000 ounces. The miner has implemented a number of initiatives over the past six months to improve its operational and financial performance including a 14 per cent reduction in group diesel consumption. |
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Alto unveils high grade gold strikes in latest WA program
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Alto Metals has set the table for a significantly enhanced mineral resource at its Indomitable Camp deposit in WA after landing a flurry of shallow, high-grade gold strikes in an RC drilling campaign at the site’s eastern districts. The company says results from the program which include 13m at 2 grams per tonne gold from just 38m indicate the zone’s mineralisation remains open along strike and at depth. |
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Sydney geos to appraise Antilles Cuban VMS prospects
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Australian-based Cuban-focused minerals explorer Antilles Gold has engaged consultancy Geos Mining for a technical assessment of one of the company’s projects on the Caribbean island. Geos Mining, headquartered in Sydney, will examine the prospectivity of a polymetallic mineral belt in the centre of the island which makes up the New Horizons project. Its report is slotted for February next year. |
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Mt Malcolm taps into large gold system near Leonora
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Explorer Mt Malcolm Mines has pulled the rods on a successful diamond drilling probe at its flagship Calypso prospect in WA’s lucrative eastern goldfields. The company plunged nearly 1900m into the prospect designed to chase up previous thick intercepts of 26m running at 1.97g/t gold from 261.5m. Early interpretations suggest drilling has tapped into “the broadest intervals intersected in over forty years of exploration at Calypso”. |
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Ora Banda receives shareholder support for key Kalgoorlie project
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Ora Banda Mining has secured funding support from shareholder Hawkes Point Holdings to continue developing its Riverina underground operation including exploration, resource development and capital expenditure. Hawkes Point is the gold producer’s largest shareholder and will provide Ora Banda with an unsecured loan of $11 million towards work at the project near Kalgoorlie. |
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