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PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
Perth, Western Australia - Friday May 07, 2021 |
Calima banks A$38m for transformational oil deal
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Things just got real for Canada focused oil and gas explorer, Calima Energy. The company has secured A$38 million for the acquisition of private Canadian outfit Blackspur Oil that will see Calima transition into an oil and gas producer overnight, potentially generating a forecast C$1.8 million a month in operational cash flow with further expansion plans on the cards. |
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Punters back Strike lithium spin-off for $9m
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ASX-listed iron ore miner, Strike Resources will spin out its South American lithium assets into a new company, Lithium Energy after successfully completing a $9 million IPO. Lithium Energy hopes to list on the ASX later this month and will emerge from the process with a theoretical market capitalisation of about $16 million at the $0.20 IPO issue price. |
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Wiluna on track to lift WA gold production
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Wiluna Mining Corporation’s expansion program in WA looks to be on-track, with the new sulphide processing circuit now under construction whilst new mine development and exploration continues apace. The company has completed a frenetic quarter that saw it push the button on the Stage 1 development program, which will likely see Wiluna double its gold production in the year ahead. |
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Troy delivers high-grade gold boost in South America
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Troy Resources has delivered more impressive high-grade gold hits as it looks to grow the ounces beneath its operating Smarts open pit gold mine in Guyana, South America. One recent 3 metre drill intercept graded 17.35 grams per tonne gold from 176 metres and the company managed to grow its gold production for the March by a whopping 75 per cent from 4,195 ounces in the December quarter to 7,333 ounces. |
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Image achieves record minerals sands production in WA
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ASX-listed Image Resources has chalked up record quarterly production numbers at its mineral sands mine about 80km north of Perth. The company says it churned out 85,200 tonnes of product for the March quarter at its zircon-rich Boonanarring mineral sands operation. The Perth-based company says the all-in sustaining costs of Boonanarring product sold also came in below the lower end of its guidance range for this year. |
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Novo ramps up gold production at Nullagine mine
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Novo Resources’ commissioning of its Beatons Creek conglomerate gold mine at Nullagine in WA’s East Pilbara has been gathering a head of steam as the operation ramps up to steady state gold production over the coming months. The company says the Golden Eagle gold processing plant 10km south-east of Beatons Creek has produced a total of 7,375 ounces of gold since the first gold pour on February 16. |
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St George lands $7m as WA nickel search intensifies
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WA focused nickel explorer St George Mining continues to intercept nickel sulphides beneath the high-grade deposits at the Mt Alexander project in the Goldfields. Step-out drilling from a recent discovery hole has commenced with the company now well-funded for future works via an oversubscribed $7 million capital raise. A maiden drilling campaign at the Paterson project is also due to begin in May. |
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Tietto locks in Primero to engineer African gold mine
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Tietto Minerals continues to tick boxes in its quest to develop West Africa’s next gold mine, having secured a contractor for processing plant engineering works and related activities to bring its 3-million-ounce Abujar project in Côte d’Ivoire Africa into production. A resource upgrade and definitive feasibility study are due next quarter and exploration drilling is ongoing. |
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Torian expands WA landholding and acquires mining contractor
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Torian Resources is set to dip its toe into the mining contracting business with the gold explorer exercising an option to buy both Carhill Contracting and the massive Tarmoola pastoral station where the business is operated from. The company’s purchase also delivers a ready-made logistical base to fast-track exploration across its flagship Mt Stirling gold project, north of Leonora in WA. |
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Kalamazoo back on the rig at Ashburton gold play
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Kalamazoo Resources has fired up the drill rig again at its sizeable Ashburton gold project in WA. The company has designed more than 12,000 metres of drilling across the gold-rich terrane as it looks to build on its more than 1.65 million ounces of resources that lie insitu throughout the historical Mt Olympus gold mining centre. |
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Thick to bring lithium experience to Lithium Australia board
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Lithium Australia’s advancing suite of lithium-related projects has prompted the company to beef up its board and senior management. The company has appointed veteran resources industry player and lithium specialist, Phil Thick as a Non-Executive Director and Stuart Tarrant as its Chief Financial Officer. Thick was previously General Manager of the part owner of the largest hard-rock lithium mining operation in the world at Greenbushes in WA. |
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Taruga shares surge on SA copper discovery
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More than 30 per cent of Taruga Minerals’ total issued capital changed hands today in frenzied trading after it announced a high-grade copper discovery at the Wyacca prospect at its Mt Craig project in South Australia. The company’s share price more than doubled to $0.12 in early trading on confirmation of some spectacular initial drill results from the first handful of holes of a reverse circulation program. |
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AVZ poised for Manono Special Economic Zone approval
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AVZ Minerals hopes to have a key precursor to the planned development of its Manono hard-rock lithium and tin mining and processing operation in the Democratic Republic of the Congo ratified by the end of May. The new DRC Government will shortly consider applying a proposed tax and fiscal incentive arrangement called the “Manono Special Economic Zone” to the project following AVZ’s presentation to a government delegation last month. |
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Lefroy hits broad porphyry in WA copper-gold search
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Lefroy Exploration is off to a flying start at the Lefroy gold project in WA’s Goldfields. The first hole of a diamond drilling campaign at the Burns prospect has hit the broadest interval of host porphyry rocks recorded at the prospect, returning a 187.5-metre intercept near a previous 38 metre hit going 7.63 grams per tonne gold and 0.56 per cent copper. |
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Pan Asia hits pegmatites in Thailand lithium search
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Things are getting interesting for Pan Asia Metals in its lithium search at the Reung Kiet project in Thailand. Pegmatite dyke swarms have been intersected in the three latest drill holes along a 1km strike target where previous trenching and sampling returned consistent grades greater than 0.5 per cent lithium oxide. Drilling continues with a further nine holes on the cards. |
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Alto drill campaign attracts $150,000 govt backing
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Alto Metals has picked up a $150,000 grant from the state government to drill test depth extensions within the Lords Corridor at its Sandstone gold project. Recent results include 16m going 5.2 g/t gold from the company’s 30,000-metre drilling campaign. Results from 70 holes are pending. Alto recently landed a 134m long monster drill hole going 1.9 g/t gold from just 24m. |
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Native Minerals delivers bumper grade copper targets
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Native Mineral Resources has upped the ante at its Palmerville project in north Queensland. A recently completed sampling program has delivered two new bumper grade copper samples going as high as 19.99 per cent copper at the Glenroy prospect and 7.99 per cent copper at the Fairlight prospect. Extensive follow-up exploration is now planned for the next quarter. |
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Arrow lands $3m for Africa gold hunt
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The market has strongly supported Arrow Minerals’ recent tin rattle that netted it $3m this week. The funds will be used to accelerate mineral exploration at the company’s Burkina Faso tenure with a particular focus on its Dassa prospect. A discovery hole at Dassa early last year quickened a few pulses with an intercept of 17m @ 3.3 g/t gold. |
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Last hurdle falls for Classic at Kat Gap
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Classic Minerals has ticked the last box on the pathway to production at its high-grade Kat Gap project after the Department of Mines, Industry Regulation and Safety granted its mining lease application. Kat Gap threw up some spectacular high-grade results last year which prompted the company to purchase a mobile plant to mine the near-surface gold. |
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Aruma expands gold footprint across three projects
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Aruma Resources continues to kick goals in its endeavours to grow its Australian project portfolio. Two new licences have been awarded at the Melrose project in the Pilbara, growing the prospective stratigraphic trend to 13 kilometres in the gold-rich region. Other gold exploration licences at the Scotia South project in WA and the Capital gold project in NSW have also been secured. |
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Estrella hits more sulphides at Carr Boyd
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Estrella Resources is getting close to joining the dots at its revived Carr Boyd nickel project after it hit 16.35m of disseminated to highly disseminated nickel-copper sulphides 75m below one discovery and 65m above another. The upper discovery previously returned 20.1m at 1 per cent nickel and 0.7 per cent copper and the lower discovery came in at 8.05m @ 0.8 per cent nickel & 0.5 per cent copper – assays are pending. |
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Calidus on rapid path towards Pilbara gold mining
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Development of ASX-listed Calidus Resources’ Warrawoona gold operation in WA has been progressing at “a rapid rate” as it looks to kick off preliminary mining in the middle of this year with an eye on pouring first gold in the first half of next year. The Perth-based company says construction at Warrawoona, which has an estimated CAPEX of $120 million, remains in line with budget and schedule. |
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More rare earths hits for Australian Bauxite in Tasmania
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Australian Bauxite has just uncovered the highest level of rare earth elements to date from its DL130 bauxite project in north-east Tasmania. The company says near-surface results returned from its ongoing drilling campaign at DL130 reveal strong enrichment of the super-magnet rare earth element, neodymium. Assays from the stand-out drill hole include 1m grading 145.8ppm neodymium, 34.55ppm dysprosium, 34.52ppm praseodymium and 5.55ppm terbium. |
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ADX eyes integrated Austrian hydrogen operation
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ADX Energy has joined forces with expert hydrogen consultants, Horvath and Partners to put forward the business case to develop a bolt-on hydrogen plant designed to augment the company’s Austrian gas operations. The pair have also proposed the use of the company’s gas fields in Austria’s Vienna Basin to store the “green hydrogen”, saying ADX is ideally positioned to develop this new, lucrative, low-emission enterprise. |
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King River confirms Kimberley high purity alumina results
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ASX-listed King River Resources has confirmed previously reported output of high-purity alumina at purity levels greater than 99.99 per cent from its Speewah Dome project in WA’s Kimberley region via recently conducted assay tests. The Perth-based company says the high-purity alumina batches were produced by calcining high-purity precursor materials purified by its refining process from an industrial chemical feed stock material. |
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Impact to test for intrusive-style gold at Doonia
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Impact Minerals has secured a shot at what it sees as a “walk-up drill target” at Doonia in Western Australia’s Eastern Goldfields after being granted tenure over an area covering an impressive 3km-long porphyry target near Lefroy’s promising Burns copper-gold discovery. The company is now planning first-pass exploration at the project and expects to kick off drilling in the second half of 2021. |
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New Surefire gold drill hits attract market interest
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Surefire Resources has returned another impressive batch of wide, high-grade gold intersections from a follow-up reverse circulation drilling program at its exciting Yidby Road gold discovery in Western Australia. The stand-out drill hit from five holes assayed so far is 44m at 2.77 g/t gold from 149m including 3m at 26.47 g/t from 150m and 5m at 6.27 g/t from 177m. |
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Indiana native title deal opens door for expanded SA gold hunt
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Indiana Resources has signed a native title mining agreement that paves the way for an expansion of its exploration activities across a major mineralised shear structure at its Central Gawler Craton gold project in SA’s venerated Gawler Craton region. The company will now be able to test a bevy of “high-priority” prospects within its massive project landholdings, one of which has already returned bonanza gold drill intersections. |
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Altech secures space for German HPA study
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Altech Chemicals continues to power through its pre-feasibility study in Germany that is looking to firm up the economics of building a plant that can make use of Altech’s high purity alumina coating technology. The company has now secured space for a research and development facility adjacent to a 14-hectare site in Saxony where it has extended an option over the site as it completes engineering and marketing studies for the plant. |
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Deep Yellow delivers uranium resource boost in Namibia
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Deep Yellow appears to be on track to extend the operating life of its proposed Tumas uranium mine in Namibia to 20 years, with half the holes drilled on the important Tumas 3 East deposit in support of a new resource calculation and definitive feasibility study hitting mineralisation grading above 100 ppm U3O8 equivalent. |
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$8.7m boost for Ardiden as lithium assets off-loaded
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Ardiden Limited is set to receive an $8.7m shot in the arm from the proposed sale of 80 per cent of its lithium assets in Canada. The sale will allow the company to focus on the Pickle Lake gold project whilst retaining some lithium upside courtesy of a proposed 20 per cent free carried interest in the lithium assets to be sold. |
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Auroch to hit high priority WA nickel sulphide target
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Auroch Minerals’ search for nickel in the Goldfields of WA is heating up. A high priority nickel sulphide target which was recently identified through a moving loop electromagnetic survey at the Nepean project is now set to be drill tested. The hole will be drilled along strike of the historic Nepean nickel mine, whilst drilling campaigns at both the Leinster and Nepean projects continue to gather steam. |
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Bardoc drill hits point to free-milling options at proposed mine
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More shallow high-grade drill hits continue to highlight the resource extension potential at emerging WA gold developer Bardoc Gold’s 1.7-million-ounce Aphrodite gold deposit north of Kalgoorlie that cornerstones the 3.07m ounce Bardoc project the company is moving towards a 2022 production start. The drilling underlines the latent prospectivity of Bardoc Gold’s large land position in the middle of the prolific Kalgoorlie-Menzies area. |
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More assays pending for PolarX after bonanza samples
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PolarX has been quick to get more samples to the lab after previous samples from its Humboldt Range project in Nevada threw up some crazy grades including 3,384 g/t gold and 2,837 g/t silver. The company says it is now eagerly awaiting assays from the new samples which it says are progressing well through the system. |
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