EDITION #246
Perth, Western Australia - Tuesday March 14, 2023
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
ADX awarded Austrian oil field production licence
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Austria’s Ministry of Finance has approved an oil field production licence to ADX Energy at its Anshof Oil Field, enabling the company to expand the development of its field with two additional wells. The ASX-listed company has been on a tear since discovering the oil field early last year, with test production commencing from the Anshof-3 discovery well last October. |
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Castle set to table maiden graphite resource in Ghana
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Castle Minerals' recent drilling campaign confirmed excellent continuity of at least 10 wide, high-grade and near-surface graphitic schist lenses at its Kambale project in Africa. The company is scheduled to complete its maiden JORC resource by the end of this month at the project that already boasts an exploration target of between 16.82mt and 50.46mt grading between 6.74 per cent TGC and 10.4 per cent TGC. |
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Westgold eyes underground extensions at Mid West gold mine
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Westgold Resources continues to exceed its output predictions at the company’s Big Bell underground gold mine near Cue, with the site recording production of more than 190,000 tonnes of ore during January and February. Its flagship operation delivered 100,700 tonnes at 2.61 grams per tonne gold for a total of 8447 ounces in January, before increasing its grade with 90,500 tonnes at 2.71 g/t gold for 7895 ounces during February. |
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Critical set to add alumina resource to vanadium project
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Critical Minerals looks set to add alumina to its already massive Queensland vanadium resource with the final 23 drill holes of its maiden campaign all hitting both critical metals. Highlights include a 3.9m hit at a solid 0.51 per cent vanadium and 3.5 per cent alumina from only 4m downhole, in addition to 2.6m going 0.37 per cent vanadium and 9.5 per cent alumina from 15.9m. |
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Xanadu seals deal with Chinese copper giant |
Xanadu Mines has wrapped up the next two phases of its strategic partnership with Chinese copper goliath Zijin Mining, giving it access to funding for the exploration and evaluation of its Kharmagtai copper-gold project all the way up to a decision to mine. The deal will see US$35 million invested directly into the project and a 50-50 joint venture created between the parties. |
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88 Energy to target 647m barrels of Alaskan oil with new well spud
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88 Energy has spudded its Hickory-1 well at the company’s Phoenix project in Alaska, testing a sweet spot of seismic anomalies in a region that has enjoyed recent drilling success. The Hickory-1 well is permitted to a total depth 3.81 km and designed to appraise up to six conventional oil reservoir targets with a net entitlement prospective resource of 647 mean-million barrels of oil. |
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Altech pockets $5 million for part sale of subsidiary
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ASX and Frankfurt-listed Altech Batteries has received A$5.12 million as the first of two deferred instalment payments from Frankfurt-listed Altech Advanced Materials for the purchase of 25 per cent of Aletch Batteries subsidiary Altech Industries Germany GmbH. The final instalment of 1.583 million euros or approximately A$2.5 million is payable in December 2023 completing the deal done back in December 2020. |
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Novo air-core results highlight fresh Pilbara gold targets |
TSX-listed Novo Resources has highlighted a number of high-priority targets at its Becher gold project in the Pilbara after receiving the results from the company’s 2022 air-core drill campaign at the operation. Becher forms part of Novo’s 10,500 square kilometre Pilbara tenement package and sits within its greater Egina gold camp and between De Grey Mining’s Mallina and Hemi gold projects. |
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Kalamazoo, Novo agree to $1.5M deal for Victorian gold project
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Kalamazoo Resources has sold its half share in the Victoria-based Queens gold project to its Canadian joint venture partner Novo Resources for $1.5 million. The company will pocket $750,000 in cash and a similar value in Novo shares. Kalamazoo will now focus on its principal Victorian projects at Castlemaine, Mount Piper, Maldon and Tarnagulla where recorded production is in excess of 8 million ounces of gold. |
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Maiden assays buoy Lithium Energy at Argentina brine project
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Lithium Energy’s maiden drill hole at its Solaroz lithium brine project in Argentina has produced significant lithium concentrations across 235 metres of lithium brine mineralisation from two aquifers. Results from the first assay from its maiden drill program at the operation have buoyed the company with the first hole drilled returning a 175m intersection going 446 milligrams per litre from 55m in the upper aquifer in addition to a 60m segment at 501mg/L from 265m in the lower aquifer. |
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Alto rolls drill rig in ahead of WA gold resource update
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The gentle hum of the drill rig is set to ring out again from Alto Metals’ Sandstone project in WA’s East Murchison region. The company will test extensions to gold mineralisation at the company’s Indomitable Camp project along with probing a slew of new prospects highlighted by visible gold in rock chips. An updated mineral resource estimate is due in the coming weeks following last year’s staggering 50,000m drilling blitz. |
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Aurum commences IP survey at Penny South project
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Aurum Resources has commenced an induced polarisation gradient array geophysical survey at its Penny South project that is planned to cover an area of 5.2 square kilometres. The main target for the IP survey is ultramafic schist units that Aurum believes are possibly more extensive than previously interpreted and may host nickel-copper mineralisation. The Penny South project is located 126 km south-east of Mt Magnet in WA. |
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Classic anchors processing plant at flagship Goldfields project
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ASX-listed Classic Minerals is making steady progress on its ambitions to become a gold producer and has begun installing a processing plant on foundations at the company’s flagship Kat Gap project in the WA Goldfields. The heaviest parts of the Australian-made Gekko plant are being secured to foundations and work is beginning on ancillary structures, electrical and plumbing scopes. |
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Dynamic gets drill bit spinning in Goldfields nickel hunt |
Dynamic Metals has kicked off a 6000m air-core program across its Lake Percy project where it will test existing and search for new nickel and lithium targets near Norseman in the Goldfields region of WA. The phase one exploration will consist of 100 air-core holes to obtain rock samples at the site in WA’s Goldfields region for geochemical analysis to build a targeting model for nickel sulphides. |
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Mineral Commodities ramps up mineral sands output
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ASX-listed Mineral Commodities has increased production output and reduced downtime after kicking off 24-hour ore processing at its Inland Strands deposit, part of its Tormin Heavy Minerals sands project in South Africa. The company moved to round-the-clock production to meet a targeted 1.2 million tonnes per annum from the primary concentrator and it is also anticipating increased production from the higher-grade Inland Strand ore. |
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