Technology Metals Confirms High Recoveries from Gabanintha

THE BOURSE WHISPERER: Technology Metals Australia (ASX: TMT) received results of pilot plant scale roasting testwork of a bulk sample collected from within the North Pit region of the company’s Gabanintha vanadium project near Meekatharra in Wesertn Australia.

Technology Metals explained the bulk sample for the pilot plant scale testwork was collected from within the North Pit region of the Gabanintha project late last year.

A total of 14.2 tonnes of sample was collected from this program; consisting of a blend of transitional massive magnetite mineralisation, fresh massive magnetite mineralisation, transitional hanging wall banded mineralisation, fresh hanging wall banded mineralisation and fresh footwall banded mineralisation.

The pilot plant scale testwork using this bulk sample was designed to confirm optimal operating parameters and scalability of laboratory testwork results and provide data for vendor definition of design parameters and cost estimates for the ‘roasting’ section of the processing circuit.

Initial ‘sighter’ testwork was completed previous to this using a representative 300 kilogram sub-sample of the bulk sample that confirmed the very high purity of final vanadium pentoxide (V2O5) product that can be produced from the GVP, delivering a 99.36 per cent V2O5 product purity.

Samples of this material have been sent to potential end-users / offtake partners for independent verification.

The latest testwork was conducted by roasting kiln suppliers FLSmidth in Pennsylvania USA, confirming the very high vanadium solubility/recovery rates indicated from the previous laboratory and sighter scale testwork.

Rates ranged from 84.9 per cent to 90.7 per cent during continuous feed, confirming the 85 per cent solubility/recovery to be used in the Definitive Feasibility Study.

FLSmidth is now undertaking engineering design and cost estimates for the roasting section of the process circuit.

Technology Metals expects delivery of the DFS mid-2019, which will ultimately be determined by how long it takes to verify and incorporate this information in to the overall DFS model.

“The very important pilot scale testwork, a key component of the delivery of a high-quality Definitive Feasibility Study, has confirmed the very high recovery rates for the roasting section of the process circuit,” Technology Metals Australia managing director Ian Prentice said in the company’s announcement to the Australian Securities Exchange.

“Delivery of the kiln design and operating parameters from kiln experts FLSmidth is the next vital step to be completed.”

 

Email: investors@tmtlimited.com.au

Website: www.tmtlimited.com.au

 

Whitebark Energy Increasing Rex-1 Well Daily Flow Rate

THE BOWSER: Whitebark Energy (ASX: WBE) provided an update on the Wizard Lake development and the company’s Rex-1 well on the Wizard Lake oil field in Alberta Canada that was placed on production on 5 June 2019.

Whitebark Energy’s Wizard Lake Rex oil discovery well has been producing for ten days and the company said it was continuing to clean up with increasing oil rates.

Current production after ten days is estimated at 275barrels of oil per day and production is increasing as the pump speed is optimized and the well continues to clean up.

Whitebark indicated that its Rex-2 well remains on schedule to be spud in late July with its working interest in this well at 40per cent, increasing to 50 per cent for Rex-3.

The company expects the Rex-1 well will continue to be optimized to obtain a stabilised initial flow rate.

The API Gravity of the oil is 18.5 and it is being sold as a medium grade crude at approximately C$58 per barrel.

Whitebark is receiving 100 per cent of the net income from the well until after payout of the facility and well workover costs of approximately C$750,000.

“The Rex-1 well has been cleaning up nicely and, consistent with our pre-production expectations, daily production has approached the levels we saw in the completion testing and is continuing to increase,” Whitebark Energy managing director David Messina said in the company’s announcement to the Australian Securities Exchange.

“This validates the initial testing results and puts us in a good position for a quick payback, thereby supporting the investment case for the next Rex wells.

“The success at Rex-1 has increased our confidence around the broader Wizard Lake development and we have taken the opportunity to secure additional ground that will increase our inventory of future well locations to at least 18 wells.”

 

Email: info@whitebarkenergy.com

Website: www.whitebarkenergy.com

 

Venture Minerals Upgrades Riley DSO Resources to Meet JORC 2012 Specs

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has upgraded the Resources at the company’s Riley iron ore project in Tasmania.

Venture Minerals announced the upgrade as part of the ongoing iron ore mining study underway at the Riley project that has updated the JORC Code 2004 maiden resource statement of 2 million tonnes at 57 per cent iron to meet the guidelines of the JORC Code 2012.

The company indicated the upgrade coincides with release of the tender documents to be released this coming week to contractors for the mining, processing and haulage components of the Riley DSO project, from which the resultant prices will be used in the updating of the mining study.

Venture said that as part of the mining study update, the Riley ore reserves will also be upgraded to JORC Code 2012 so that a decision to recommence mining can be made at the earliest opportunity by the Board.

Following a favourable study outcome and a decision to mine, Venture’s goal is to commence iron ore production in Q4 2019.

“The resource upgrade and the imminent release of the tender documents for the three main contracts of the Riley Mine are significant steps towards completing the updated mining study,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Piedmont Lithium Confirms Ore Body Pure Spodumene Nature

THE DRILL SERGEANT: Piedmont Lithium (ASX: PLL) completed mineralogical testing, comprising semi-quantitative and quantitative x-ray diffraction (XRD) analysis, on samples of mineralised pegmatites and composite samples from the company’s Core, Central, and Sunnyside properties in North Carolina, USA.

Piedmont dais it has been advised that the relatively pure spodumene character of its ore body is unusual and highly positive, allowing for a simplified flowsheet to produce strong lithium recoveries.

A total of 36 samples of mineralised pegmatites were collected from Piedmont’s Core, Central, and Sunnyside properties.

The resulting data demonstrated the Piedmont ore body to not contain any petalite, lepidolite, or zinnwaldite – non-spodumene lithium bearing minerals concentrate under different operating conditions than spodumene when processing with dense medium or flotation.

The company explained that petalite (4.86% lithium dioxide (Li2O)) and lepidolite (7.7% Li2O) have lower lithium content than spodumene (8.03%).

Because the numbers are in its favour, Piedmont expects to maintain both high lithium concentrate grades and recoveries at the company’s planned concentrator in part due to the absence of petalite or other lithium bearing minerals.

“As the market’s understanding of lithium processing evolves, it will become increasingly clear that mineralogy and metallurgy are the fundamental building blocks of a successful hard-rock lithium business,” Piedmont Lithium president and CEO Keith D. Phillips said in the company’s announcement to the Australian Securities Exchange.

“Our testwork confirms what we have always suspected – the Carolina Tin-Spodumene Belt is exceptional not only in scale but in terms of mineralogy.

“When combined with the shallow nature of our ore body and the capital and operating cost advantages of our location, we are excited about the upcoming resource, metallurgical and scoping study updates.”

 

Email: info@piedmontlithium.com

Website: www.piedmontlithium.com

 

Comet Resources Identifies Large Graphite Target

THE DRILL SERGEANT: Comet Resources (ASX: CRL) has identified a large, priority exploration target immediately to the north east of the company’s existing Springdale graphite resource in Western Australia.

Comet Resources believes the target could be a fold repeat of graphite-bearing stratigraphy that hosts the current high-grade Springdale resource that consists a defined Inferred Resource of 15.6 million tonnes at 6 per cent total graphitic carbon (TGC), including a high-grade portion of 2.6 million tonnes at 17.5 per cent TGC.

The company’s interpretation of a recent regional aeromagnetic survey identified a potential fold-repeat of graphite-bearing stratigraphy eight kilometres east-north-east of the defined resources.

The scale of the folding presents a target of approximately seven square kilometres.

The target sits in a similar, favourable fold-closure position to the one that already hosts the high-grade graphite resource.

Comet said its ability to target shallow, high-grade graphite mineralisation using electromagnetic surveys (EM) was confirmed during its February drilling campaign with the discovery of two new zones.

The company’s exploration to date has focussed on the fold closure of a northeast-southwest trending syncline.

Recent interpretation of the regional aeromagnetic survey has highlighted a potential fold-repeat of graphite-bearing stratigraphy to the east-north-east of the existing resource.

Comet plans to use EM as a high-grade targeting tool to test the newly identified area.

“We don’t yet know if we have found the highest-grade areas of graphite mineralisation at Springdale,” Comet Resources CEO Philippa Leggat said in the company’s announcement to the Australian Securities Exchange.

“The highest intercept of one metre at 48 per cent TGC was retuned in our February drilling program.

“The two new discoveries made in the program are outside the current resource and clearly confirmed the potential to use EM to target the high-grade zones near surface, and that is really quite exciting.

“We already have an Inferred Resource of 2.6 million tonnes at 17.5 per cent TGC on less than ten percent of our licence, mostly within 60 metres of surface, and this is before we look at the potential that a fold repeat could deliver.

“Moving forward, we see EM helping to identify the highest grade in new areas and around the existing resource, so that we can cost-effectively upgrade the high-grade component of our project.”

 

Email: comet@cometres.com.au

Website: www.cometres.com.au

 

Kin Mining Completes $2.1M Placement

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) completed a share placement of 42 million shares at five cents per share existing sophisticated shareholders, raising $2.1 million.

Kin Mining said the funding will enable it to complete the Pre-Feasibility Study for the company’s Cardinia gold project and provide additional working capital for the next phase of work on the project assessment after consideration of the PFS outcomes by the Board.

The PFS is due for completion shortly.

“We continue to be encouraged by the support of our major shareholders,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The additional funding puts Kin in a stronger financial position to finalise the Pre-Feasibility Study for the Cardinia gold project and commence the next phase of project assessment and development work.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Cassini Resources Encounters Multiple High-Grade Copper Hits at One Tree Hill

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) declared recording the best results to date from drilling underway at the One Tree Hill prospect within the West Musgrave project (WMP) in Western Australia.

Cassini Resources explained the ongoing exploration program is being funded as part of the company’s Joint Venture Agreement with OZ Minerals (ASX: OZL).

The JV is currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits in conjunction with a regional exploration program across the WMP.

The latest results stem form drill hole CZD0099, which returned high-grade results including:

9 metres at 2.56 per cent copper, 0.37 per cent nickel, 0.06 per cent cobalt and 1.32g/t PGE from 344m within a broader disseminated zone of 40m at 1.16 per cent copper from 343m (Zone B)

6.2m at 3.61 per cent copper, 0.11 per cent nickel, 0.03 per cent cobalt and 0.51g/t PGE from 435.8m within 22m at 1.80 per cent copper from 435m (Zone C)

0.75m at 1.71 per cent Ni, 0.52 per cent copper, 0.10 per cent cobalt and 2.67g/t PGE from 133m within 44.7m at 0.35 per cent copper from 116.3m (Zone A).

Cassini described the results as encountering, “the first significant zone of nickel-rich massive sulphides at this prospect”.

Four distinct zones of mineralisation were intersected in the hole:

Zone A. Predominantly disseminated copper mineralisation in a meta-gabbro intrusion starting at 100m below surface.

Zone B. A broad zone of mineralised meta-gabbro with a copper-rich massive sulphide at the top of the unit.

Zone C. A second broad zone of copper-rich gabbro, also with a massive sulphide component at the top of the unit.

Zone D. A very narrow massive sulphide zone that corresponds with the target EM conductor.

“CZD0099 has exceeded our expectations,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“We’ve intersected several mineralised zones that were effectively blind to previous geophysical modelling, and this presents real opportunities for further exploration success.

“It’s also worth recognising that whilst this is only our sixth hole at the One Tree Hill prospect, it is showing all the hallmarks of a major mineralised system with the potential to add future mine life and value to the West Musgrave Project.

“The exploration results continue to confirm the excellent prospectivity and potential of the project.”

Cassini indicated it considers high resolution magnetic data very important for future exploration at One Tree Hill, however, the current magnetic data it possesses is relatively coarse and does not allow confident mapping of lithologies and structures at the prospect scale.

This being the case, the company has an airborne magnetic survey planned to be carried out prior to follow-up drilling that will extend west across the tenement boundary into Cassini’s 100 per cent-held Mt Squires project to assist exploration at both projects.

The survey will also extend north east to ensure complete high-resolution coverage of the entire extent between One Tree Hill and Nebo-Babel.

Cassini said it expects the surveying and processing will be completed by the end of July, from which the interpretation of new magnetic data will assist follow-up drill targeting.

The relatively shallow nature of the upper parts of this system means that at least that part is amenable to testing by RC rather than Diamond drilling, which is both faster and cheaper.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Exore Resources Confirms Veronique Gold Discovery

THE DRILL SERGEANT: Exore Resources (ASX: ERX) declared that results from ongoing shallow aircore (AC) drilling had confirmed the company’s emerging Veronique gold discovery in northern Cote d’Ivoire.

Exore Resources said the results had provided progress towards the company’s objective of defining a multi-million-ounce gold project in northern Cote d’Ivoire.

The ongoing AC drilling at Veronique intersected high-grade, shallow gold mineralisation the company said produced evidence of a new gold discovery with large-scale potential.

Results from the latest broad-spaced, shallow AC drilling include:

12 metres at 7 grams pe tonne gold from 16m;
12m at 3.12g/t gold from 36m;
1m at 38.01g/t gold from 28m (EOH); and
8m at 2.23g/t gold from 48m.

“We remain extremely excited about the potential for a large-scale gold discovery at Veronique with these latest exceptional shallow aircore results,” Exore Resources managing director Justin Tremain said in the company’s announcement to the Australian Securities Exchange.

“This latest drilling has resulted in an interpreted WNW strike orientation to the mineralisation which opens up the potential for a large array of kilometre scale sub-parallel mineralised lodes across many kilometres in width.

“The improved confidence in the strike orientation allows for ongoing infill and step out aircore drilling during the wet season in preparation for maiden RC drilling at the start of the dry season.”

 

Email: info@exoreresources.com.au

Website: www.exoreresources.com.au

 

Cygnus Gold Extends Bencubbin North Nickel Anomalism

THE DRILL SERGEANT: Cygnus Gold (ASX:CY5) extended nickel anomalism on the back of further results from soil sampling over the Bencubbin North nickel and base metals prospect within the company’s wholly owned Bencubbin project in the Wheatbelt region of Western Australia.

Cygnus Gold completed an additional 267 auger soil samples it claims to have extended its original nickel auger soil results noting the nickel anomalism is associated with widespread copper and PGE anomalism.

The company reported that a total of 74 samples assayed for PGEs were also anomalous, with maximum values of palladium (Pd) of 44.4ppb (associated with 5.5ppb Platinum) and maximum platinum of 11.8ppb (with 35ppb Pd).

Cygnus Gold explained that similar levels of PGE anomalism in soils are commonly associated with mineralised nickel sulphide systems elsewhere in the WA Goldfields, which it considers demonstrates potential for magmatic nickel sulphides at Bencubbin.

“The Bencubbin nickel and base metals project is shaping up as a high priority asset for the company, with sampling confirming the prospectivity of the northern section of more than 70 kilometres of untested prospective stratigraphy,” Cygnus Gold managing director James Merrillees said in the company’s announcement to the Australian Securities Exchange.

“The company also acknowledges the WA Government awarding $150,000 in EIS funding towards drilling at Bencubbin.

“This recognises the technical merits of the project, as well as the underlying prospectivity of the WA Wheatbelt.”

With the surface sampling having extended the nickel-copper and copper-lead-zinc prospectivity at Bencubbin North, outlining widespread PGE anomalism consistent with potential for magmatic nickel-copper sulphide mineralisation, Cygnus Gold declared it intends carrying out infill sampling to refine targets for drill testing with sampling to commence on the highest priority targets in the middle of this month.

Cygnus is also planning to commence sampling on the Bencubbin South tenement over extensions of the Bencubbin Greenstone as well as further sampling of the Mandiga Trend, located at the southern end of Bencubbin North project, which it considers highly prospective for base metals.

Drilling is planned in the second half of the year once it has received and interpreted these results.

 

Email: info@cygnusgold.com

Website: www.cygnusgold.com

 

VRX Silica Upgrades Muchea Mineral Resource Estimate

THE DRILL SERGEANT: VRX Silica (ASX: VRX) completed drilling at the company’s Muchea silica sand project north of Perth in Western Australia that has led to an upgraded Mineral Resource Estimate.

VRX Silica announced the JORC 2012 Mineral Resource Estimate for the Muchea silica sand project, which has been upgraded to 208 million tonnes at 99.6 per cent silicon dioxide (SiO2) comprising a 49 per cent increase to the JORC 2012 Indicated Resource estimate of 29 million tonnes at 99.6 per cent SiO2 and a four percent increase to the JORC 2012 Inferred Resource estimate of 179 million tonnes at 99.6 per cent SiO2.

“This drill program is over an area of 217ha, which is still only a small portion of the 2,900ha Mining Lease Application area,” VRX Silica managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“Testwork indicates that high-grade silica sand can be produced from Muchea for which there is strong demand for glassmaking in Asia.

“With low variability of results over the Resource area our expectation is that the majority of the Indicated Resource will convert to Probable Reserves in our impending BFS.”

The company explained the Resource estimate only includes sand three metres above the year 2000 mapped water table level and discounts the top half metre of topsoil, which will be used for rehabilitation.

VRX claims metallurgical testwork it has carried out to-date confirms its updated silica sand model to be readily amenable to upgrading by conventional washing and screening methods to produce a high-purity silica sand product with high mass recoveries.

The high-purity silica sand product specifications are expected to be suitable for industries such as the glass making and foundry industries.

VRX Silica anticipates that further testwork focusing on currently discounted sand layers may result in further reinterpretation and upgrades to the Muchea MRE.

The company indicated future drilling and estimations will include this zone of sand which is expected to add to the Resource inventory.

A more extensive Program of Work (PoW) has been lodged to enable an aircore drill program over areas that have been previously hand augered.

Drilling is planned for the September quarter 2019.

 

Email: info@vrxsilica.com.au

Website: www.vrxsilica.com.au