Azure Minerals Restarts Drilling at Alacrán

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has recommenced Reverse Circulation (RC) drilling on the Loma Bonita deposit at the company’s 100 per cent-owned Alacrán project in Mexico.

Azure Minerals said the drilling had started up again following the scheduled Christmas-New Year break, which before taking the company had completed two holes.

The Loma Bonita deposit currently extends over 600 metres north-south and up to 200 metres east-west.

Mineralisation starts at surface and in places the true width/thickness of the mineralised zone exceeds 100m.

Drilling to expand gold and silver resources is underway, with early drilling located to the east of holes MDPC-096 and MDPC-131, which returned strong mineralised intersections of:

MDPC-131
47.2 metres at 2.79 grams per tonne gold and 33g/t silver;

MDPC-096
67.1m at 1.56g/t gold and 21g/t silver.

Before the break, Azure had reported encouraging surface sampling results from a strongly gold-mineralised breccia located in a road cutting approximately 400m southeast of the Loma Bonita resource boundary.

“Channel sampling of the exposed mineralised zone returned 35.5 metres grading 3.6 grams pert onne gold,” Azure Minerals said in its ASX announcement.

“This zone will be drill-tested in the current program.”

The company indicated it was now planning drilling to test the Cerro San Simon prospect where previous drilling returned several wide intersections of low to moderate grade gold mineralisation, including:

MDPD-025
29.6m at 0.56g/t gold and 27g/t silver;

MDPD-035
12.6m at 0.37g/t gold and 8g/t silver; and

ALA-17-004
63m at 0.47g/t gold and 27g/t silver.

 

Web: www.azureminerals.com.au

 

Antipa Minerals Welcomes Rio Tinto as JV Partner

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THE BOURSE WHISPERER: Antipa Minerals (ASX: AZY) informed the market that Rio Tinto (ASX: RIO) has earned an initial 51 per cent interest in the Citadel project in Western Australia.

Antipa Minerals explained that Rio had reached the 51 per cent milestone by way of sole funding $11 million of exploration expenditure on the project and that a Joint Venture has now been struck between the two companies.

The Citadel project comprises a 1,330 square kilometre tenement package located in the prospective Paterson Province in northern WA, 80 kilometres north of Newcrest’s Telfer gold‐copper‐silver mine and 5km east of Rio Tinto’s Winu copper‐gold‐silver deposit.

The project hosts a global Mineral Resource of 63.8 million tonnes at 0.8 grams per tonne gold and 0.2 per cent copper for 1.6 million ounces of gold and 127,000 tonnes of copper.

Under the terms of the Citadel Project Farm-in Agreement, Rio Tinto has now assumed operatorship of the Citadel JV and has until 30 January 2020 to elect whether to sole fund an additional $14 million of exploration expenditure within three years to increase its interest in the JV to 65 per cent.

Rio Tinto also has the ability to earn up to a 75 per cent interest in the Citadel Joint Venture by sole funding a further $35 million within a further three years.

 

Web: www.antipaminerals.com.au

 

Independence Group Beats Metal Production Guidance

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THE BOURSE WHISPERER: Independence Group (ASX: IGO) reported preliminary metal production for the Nova and Tropicana operations for the December 2019 Quarter (2Q20) and for the first half of the 2020 Financial Year (1H20).

Independence Group declared a consistently strong operational performance at Nova resulted in nickel, copper and cobalt production for 2Q20 and 1H20, exceeding the company’s pro-rata guidance range for FY20.

Meanwhile at Tropicana, gold production and gold sales also exceeded pro-rata FY20 guidance following an excellent 2Q20 result.

“Production at Nova and Tropicana beat guidance in the December Quarter and the first half of FY20 reflecting the quality of both operations and the dedication and focus of the Nova and Tropicana teams,” Independence Group managing director and CEO Peter Bradford said in the company’s announcement to the Australian Securities Exchange.

“Looking ahead to the second half of FY20, we are expecting Nova to maintain performance in line with guidance as we continue to focus on delivering cost improvements and continuous improvement of operational efficiencies.

“At Tropicana, we also expect to produce within guidance for the year, with lower gold production during 2H20, in line with our mine plan.”

 

Email: contact@igo.com.au

Web: www.igo.com.au

 

Auroch Minerals Kicks Off 2020 Exploration Program

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THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) has commenced its 2020 exploration program at the company’s Saints nickel project near Kalgoorlie in Western Australia.

Auroch Minerals has completed DHEM modelling for 11 diamond drill-holes it conducted at Saints in 2019, from which it has modelled strong to very strong conductive plates for the majority of the drill-holes.

Several of these strong off-hole DHEM conductors have not been tested by any drilling and are set to become drill targets for the next phase of diamond drilling, planned to commence later this quarter.

The company has received further assay results for drill-holes SNDD007 and SNDD008, which were drilled to test possible extensions to the south of the known mineralisation at Saint Andrews and the Western Contact.

SNDD007 returned encouraging results of:

6.87 metres at 0.77 per cent nickel and 0.02 per cent copper from 145m down-hole, including 1.87m at 1.47 per cent nickel and 0.03 per cent copper.

Assays are pending for the remaining three drill-holes SNDD009 to SNDD011.

“We are extremely pleased with the results from our maiden drilling programme at the Saints nickel project,” Auroch Minerals managing director Aidan Platel said in the company’s announcement to the Australian Securities Exchange.

“We have confirmed high-grade nickeliferous massive sulphides over significant widths, particularly at Saint Patricks.

“We have also intersected high-grade nickel sulphide mineralisation outside of the limits of the existing nickel resources at Saint Andrews, Saint Patricks and the Western Contact, adding to the strike of the known mineralisation.

“The results from SNDD007 have added further to the strike, and opened up the potential of further nickel sulphide mineralisation to the south of the existing resources.

“Furthermore, the DHEM surveys from our initial drilling program have provided us with several strong conductor plates that require follow-up drill-testing.

“We are currently modelling all of the new geological information provided by the drilling, in order to plan a major diamond drilling campaign that will aim to target the main ‘feeder channel’ nickel sulphide mineralisation.

“We are assaying the entire drill-holes for multi-element data to use to vector in on the possible channel position.

“We also plan to initiate an air-core drilling programme, necessary to increase confidence in the geology and stratigraphy at Saints, which again is extremely important for targeting possible massive nickel sulphide channel mineralisation.

“We have been granted the work permit for the air-core program and will commence shortly.

“We will continue to update our geological model as new data is received, which along with the DHEM models and other geophysical data, will provide the basis for a major diamond drilling program to commence later this quarter, aimed at materially increase the existing nickel sulphide resource estimate at Saints.”

In addition to the planned drilling program at Saints, Auroch indicated it has plans to initiate a drilling program this quarter at the company’s Leinster nickel project to test the Valdez target, a large EM anomaly coincident with nickeliferous ultramafics along strike from the Waterloo nickel deposit.

 

Email: admin@aurochminerals.com

Web: www.aurochminerals.com

 

Mincor Resources Hits New High-Grade Nickel Sulphide Intercept at Cassini

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THE DRILL SERGEANT: Mincor Resources (ASX: MCR) announced the latest result from ongoing diamond drilling at the company’s Cassini nickel sulphide deposit at Kambalda.

Mincor Resources reported the drilling returned another exceptional high-grade nickel intercept of:

MDD339
17.6 metres at 5 per cent nickel, including 13m at 6.1 per cent nickel.

The company explained it has interpreted the intersection to be within the CS4 channel and was encountered 115m down-plunge from the last reported CS4 intersection.

The intersect represents the first result from a discrete program the company has underway that is aimed at demonstrating the continuity of nickel sulphide mineralisation at Cassini.

Of note is that the intersection is down-plunge of the boundary of the reported Mineral Resource of 1.254 million tonnes at 4 per cent nickel for 50,400 nickel tonnes.

“What a great way to start the New Year with significant new drilling success at Cassini,” Mincor Resources managing director David Southam said in the company’s announcement to the Australian Securities Exchange.

“The CS4 surface has recently taken somewhat of a back-seat from the remarkable success we achieved with our drilling program in the December 2019 quarter surrounding the CS5 surface intersections.

“Today’s result shows that the CS4 surface could also extend significantly, with this intersection being 115 metres down-plunge from the last reported intersection.

“It is also our second highest value hole per metre (measured as intercept width multiplied by nickel grade) at Cassini.

“We have committed part of the proceeds from our recent $35 million capital raising to continue to invest in resource extension, resource development and exploration while we complete the Definitive Feasibility Study for our integrated Nickel Restart Strategy.

“The outstanding new drilling results reported today represent a clear vindication of this approach, demonstrating that our extensional drilling strategy at Cassini has the potential to deliver substantial success beyond our existing Mineral Resource which, at just over 50,000 high-grade nickel tonnes, is already one of the most significant new nickel sulphide discoveries in the Kambalda district in recent decades.

“The next sequence of step-out holes will be targeted in the CS5 and CS2 channels of Cassini through January and into early February 2020 while we finalise our nickel restart studies.”

 

Email: mincor@mincor.com.au

Web: www.mincor.com.au

 

Lithium Australia Subsidiary Signs Cathode Technology MoU with Chinese Conglomerate

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THE BOURSE WHISPERER: Lithium Australia’s (ASX: LIT) wholly-owned subsidiary company VSPC Ltd, has signed a Memorandum of Understanding (MoU) with Beijing Saideli Technology Incorporated Company Ltd (SDL) to commercialise VSPC cathode material.

The terms of the MoU include the low-capital establishment of a supply chain for VSPC cathode material in China, and collaboration on a feasibility study for an international cathode material project, beyond China, using VSPC technology.

The MoU was agreed following technical review and discussions based on VSPC’s Lithium-Ferro-Phosphate (LFP) cathode product.

VSPC is a developer of advanced cathode materials that owns a patented process for the production of lithium-ion battery (LIB) cathode materials.

SDL’s experience lies in the design and manufacture of process equipment and extensive experience in the construction, commissioning and operation of chemical process plants, including those for the production of LIB cathode powders.

The market for LFP cathode material is anticipated to enjoy a strong run in the near future with analysts forecasting to grow strongly over the next decade.

In addition to core applications for ebus and stationary storage, heightened demand is expected through substitution (existing) and displacement (expanding) in applications that have traditionally been the domain of lead acid batteries.

This includes, but is not limited to, 12V and 48V applications for micro and mild hybrid powertrains, LSEV (low speed electric vehicles), datacentre UPS and 5G tower backup.

“We see partnering with SDL – which has a demonstrated track record in process development and high-tech process plant delivery – as a great opportunity,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“VSPC’s MoU with SDL provides Lithium Australia with a low-capital pathway to the commercialisation of VSPC cathode powders, in order to meet targets set by our other partners in China.

“We look forward to working with SDL, with a specific focus on the anticipated growth of LFP cathode materials for transport and energy-storage applications.”

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

 

Lithium Australia Completes Energy Storage JV

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced the completion of its Joint Venture for joint battery marketing operations with China-based battery and energy storage specialists the DLG Group (DLG).

Lithium Australia said the new enterprise will be an incorporated JV venture with it holding 50 per cent interest and DLG the same.

The JV will be trading as Soluna Australia Pty Ltd, which has been established to sell lithium-ion batteries (LIBs) and Soluna energy storage products into the rapidly expanding Australian renewables energy market.

Lithium Australia cited a detailed investigation of the Australian energy-storage industry that identified there to be serious supply-chain constraints in the delivery of LIBs to Australian customers.

The company indicated that Soluna Australia intends to provide a new and reliable supply source for renewable energy solutions to power users in Australia.

The Australian renewable energy sector is presently experiencing strong growth, which has led the Australian Council of Learned Academics to estimate that 16 Gigawatt hours of energy storage will be required by 2030 to ensure security of electricity supply for the medium forecast rate of uptake of renewable energy.

That is estimated to necessitate investment of more than $5 billion in energy-storage solutions in the next 10 years, with LIBs forming a large proportion.

Under the Lithium Australia/DLG agreement, the parties will facilitate technological cooperation between LIT Subsidiary, VSPC Ltd and DLG for both cathode and battery R&D.

DLG will work with Lithium Australia to further develop VSPC’s cathode powders, initially with a focus on lithium-ferro-phosphate (LFP) LIBs, LFP being the ideal battery chemistry for Australian energy-storage applications.

DLG has been working with VSPC to test LFP cathode powders produced at the latter’s pilot plant in Brisbane, Australia.

Those powders have been used in the manufacture of commercial 18650 LIBs at DLG’s Shanghai R&D facility.

“Formalisation of Lithium Australia’s Joint Venture with DLG, which resulted in the creation of Soluna Australia, paves the way for the introduction of superior energy-storage products into the Australian market, reducing the carbon footprint of national energy consumption for both residential and industrial consumers,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“We foresee great potential for energy storage in fringe-of-grid and off-grid applications, as well as improvements in the utilisation of power from existing grids.”

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

Corazon Mining Intersects Strong Nickel-Copper Sulphide Mineralisation

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) received preliminary results from the first three holes completed in the current phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide Mining Centre in Canada.

Corazon Mining said the preliminary results were highly positive with all three holes intersecting strong sulphide mineralisation, including a broad zone of more than 35 metres of strong sulphide mineralisation (between 7 metres to 42 metres downhole) in hole 7.

The three completed holes (holes 5, 6, 7) have been drilled for a total of approximately 356 metres, targeting areas around the A Orebody that had previously been covered by infrastructure from the A-Shaft and processing plant area within the historical Lynn Lake Mining Centre.

Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the project’s already large resource base.

Approximately 1,200 metres of diamond core drilling are planned for the current program, which is expected to be completed in the current month.

Hole #5 intersected at least five metres of good sulphide mineralisation, before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope.

Hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.

Hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole.

“Corazon’s recent mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below surface,” Corazon Mining said in its ASX announcement.

“This work has highlighted the potential to define additional resources closer to surface adjacent to Lynn Lake’s historically mined areas.

“These areas are the initial focus for the current drilling program.”

In addition to testing the historical mining areas, Corazon has also defined several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits within the Lynn Lake Mining Centre, which the company considers to represent further resource upside potential.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

Venture Minerals Scores Tasmanian Government Co-Funding

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has secured co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020.

Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving for co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project.

The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets.

The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey.

Venture claims Mount Lindsay as one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.

Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500t in 2018).

Venture explained the Renison-style target is a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine.

“The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project.

“Tin and tungsten are globally classified as critical minerals.

“Recently the Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech.

“Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.”

 

Email: info@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Red 5 to Conduct Resource Drilling at Darlot Gold Mine

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THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is soon to commence a new program of exploration and resource drilling to test a series of priority gold targets located within an economic trucking radius of the company’s Darlot gold mine in Western Australia.

Red 5 indicated the program will test gold targets located at the Cables and Mission and Great Western gold deposits which are both subject to recent Option Agreements, as well as the Taranaki Trend, the Ockerburry Project and the Darlot Project tenements.

“The new regional surface drilling program at Darlot is an important addition to our already expanded drilling program for FY2020 – which includes a previously announced budget of 120,000 metres of planned drilling across the King of the Hills and Darlot assets,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The addition of over 11,000 metres of surface exploration and resource drilling reinforces our commitment to delivering growth through exploration.

“Following the recent Option Agreements for two ‘bolt-on’ resources at Great Western and Cables and Mission as part of the Darlot Mining Hub Strategy, we now have an expanded pipeline of exciting targets to test within an economic trucking radius of the Darlot Mill.

“These programs have the potential to quickly grow our resource base, make new discoveries and provide us with further targets for future follow-up.

“This multi-pronged strategy is consistent with our objective to meaningfully increase the mine life of the Darlot Operation – as part of our overall target of having two long-life, high-quality gold production centres operating in parallel as the cornerstone assets of a multi-asset, mid-tier gold producer.”

 

Email: info@red5limited.com

Web: www.red5limited.com