Stavely Minerals Expands Thursday’s Gossan Mineralisation

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THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) received assay results for further diamond drill holes undertaken at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Stavely Minerals declared that results from holes SMD054, SMD056 and SMD058, together with indications from ongoing drilling, continue to confirm and extend the shallow high-grade copper-gold discovery at the Thursday’s Gossan prospect.

Diamond hole SMD054, located 40 metres along strike to the north-west of discovery hole SMD050, returned high-grade assay results of:

11 metres at 4.62 per cent copper, 0.57 grams per tonne gold and 25g/t silver from 86m down-hole, including 7m at 7.10 per cent copper, 0.72g/t gold and 39g/t silver from 90m down-hole, including 3m at 10.87 per cent copper, 0.67g/t gold and 52g/t silver from 92m down-hole.

Drill hole SMD054 also intercepted another overlapping interval of nickel mineralisation, returning:

5m at 1.42 per cent nickel and 0.05 per cent cobalt from 96m down-hole.

Diamond hole SMD058, located between discovery holes SMD050 and the first step-out hole SMD051, intersected a broader zone of mineralisation:

23m at 1.34 per cent copper, 0.26g/t gold and 3.5g/t silver from 68m down-hole, including 3m at 6.33 per cent copper, 0.27g/t gold and 2.9g/t silver from 88m down-hole.

Diamond hole SMD056, targeted 40m below the discovery hole SMD050, did not reach target depth due to the drill rods breaking but still intersected encouraging mineralisation, including:

8.3m at 1.65 per cent copper, 0.23g/t gold and 7.2g/t silver from 157m down-hole, including 3m at 3.75 per cent copper, 0.25g/t gold and 10.2g/t silver from 157m down-hole; and

3m at 1.68 per cent copper, 0.18g/t gold and 8g/t silver from 79m down-hole.

Stavely has observed visuals from recently completed in-fill drill holes SMD059 and SMD060, located 160m and 120m south of SMD050 respectively, that it claims indicate thick, well-developed mineralised intervals.

Assays for these holes are pending.

The company is soon to commence drilling to test 100m of strike between SMD054 and historical hole SNDD001, which if successful could confirm the discovery of a strike length of over 500m.

“We are pleased that ongoing drilling continues to intersect well-developed, high-grade copper-gold-silver mineralisation with the added bonus of some quite unusual nickel-cobalt mineralisation,” Stavely Minerals executive chairman Chris Cairns said in the company’s announcement to the Australian Securities Exchange.

“As expected, we continue to see variation in widths and grade along the strike length of the discovery, but overall the picture is continuing to build strongly.

“In terms of the down-dip continuity, we still have an incomplete picture but the early indications are extremely encouraging.

“Of particular note from our recent drilling is that the visual observation of the mineralisation in SMD059 suggests that it extends beneath the low-angle structure (LAS).

“This provides encouragement that mineralisation does extend below the LAS and the depth potential of high-grade mineralisation is therefore not constrained by this structure.

“This opens up the entire discovery – and indeed the broader area below the shallow chalcocite blanket – quite significantly and represents a tantalising proposition.”

 

Email: info@stavely.com.au

 

Web: www.stavely.com.au

 

Musgrave Minerals Intersects High-Grades at Mainland

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported high-grade gold results from reverse circulation (RC) drilling at Mainland on the company’s Cue gold project in Western Australia, where it has an option agreement to acquire 100 per cent of the basement gold rights.

Musgrave Minerals recently completed RC drilling that intersected high-grade gold at the Consols prospect at Mainland including:

19MORC018
12 metres at 8.1 grams per tonne gold from 108m down hole, including 6m at 14.2g/t gold from 114m;

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2m at 55.4g/t gold from 52m down hole, including 1m at 108.3g/t gold from 52m; and

19MORC020
3m at 5.2g/t gold from 73m down hole.

The results have extended gold mineralisation at the Consols prospect along strike and down dip from the company’s initial drill program that intersected:

19MORC008
3m at 5.4g/t gold from 74m.

Consols remains open and untested along strike and at depth.

“This is a great early result at Mainland and supports the company’s view that there are significant gold discoveries still to be made in the Murchison,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“These early results are not dissimilar to the early results at Break of Day with the gold mineralisation remaining open to the west and down dip.

“Mainland has a long history of alluvial gold production and to discover a basement source for some of this historical production is a significant step forward.”

Musgrave Minerals indicated it was expecting further assay results for extensional drilling at Break of Day and Lena in mid-December following completion of the recent RC drilling program.

Meanwhile diamond drilling is underway at Lake Austin North as part of the Evolution (ASX: EVN) Joint Venture.

The Mainland area is excluded from the Earn-in and Exploration Joint Venture with Evolution Mining.

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Matador Mining Progresses Cape Ray Environmental Assessment

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THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) updated the market on progress of the Environmental Assessment (EA) process for the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining said it has made good significant progress in the latter half of this year regarding Environmental Assessments, specifically in the important areas of First Nation and Stakeholder Consultation.

The company has had meetings with the two Mi’kmaq First Nation Communities, from which it said positive feedback was received from the Chiefs and Band Councils.

Public meetings were also held in Port aux Basques and Isle aux Morts to present the project to the local communities that were both very well attended with local support for the project on show.

The company also provided insight to Environmental Baseline studies it has underway to satisfy Environmental Impact Statement Guidelines.

These are nearing completion and are expected to be completed early in 2020.

Meetings with officials at the provincial and federal environmental assessment agencies provided positive feedback on the process.

Matador has a Project Environmental Impact Statement (EIS) submission date targeted for Q3 2020 with approvals targeted for early 2021.

Other meetings have also been held with Newfoundland and Labrador Hydro (NLH) that have identified potential grid connection points and internal studies have been initiated by Newfoundland and Labrador Hydro to determine optimal grid connection points for project power.

Matador indicated this could have potential to reduce operating costs, which will be highlighted in the company’s development study that remains on track to be released during Q1 2020.

“The pace at which we have been able to move ahead with our Environmental Assessment for the Cape Ray gold project has been very encouraging and initial discussions with elected officials in Newfoundland have garnered significant project support with the permitting process expected to be completed in a relatively short time frame,” Matador Mining technical director Keith Bowes said in the company’s announcement to the Australian Securities Exchange.

“In parallel with our assessment work we are also pursuing options for grid power connections for a future operation.

“Newfoundland has an abundance of hydroelectric power (through the new Maritime link) which will benefit the project as grid connections are in close proximity to the site and power authorities have already expressed a willingness to support the project.

“Given the current status of the Environmental Assessment, the progress made with the exploration program and our initial assessment work, Matador is on track to potentially become the next major gold producing mine in Newfoundland.”

 

Email: info@matadormining.com.au

 

Web: www.matadormining.com.au

 

Corazon Mining Adds Further Nickel to Lynn Lake Resource

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced an upgraded Mineral Resource Estimate for the comapy’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining reported the current total Resource Estimate includes just six deposits within the Lynn Lake Mining Centre, with multiple additional areas of mineralisation yet to be evaluated as potential additions to the Resource base.

The upgraded Resource includes:

16.3 million tonnes at 0.72 per cent nickel, 0.33 per cent copper, 0.033 per cent cobalt (Indicated and Inferred, at a 0.5% Ni cut-off), for total contained metal of 116,800 tonnes of nickel, 54,300 tonnes of copper, and 5,300 tonnes of cobalt.

The upgraded Resource includes an internal high-grade Resource Estimate of:

5.4 million tonnes at 0.99 per cent nickel, 0.41 per cent copper, 0.043 per cent cobalt (Indicated & Inferred, 0.7%Ni cut-off) of high-grade material.

“Corazon now has almost 117,000 tonnes of nickel metal in sulphide Resource sitting in one of the best mining provinces in Canada,” Corazon Mining chairman Terry Streeter said in the company’s announcement to the Australian Securities Exchange.

“All indications are that this will be further expanded.

“We’ve a drill rig on site setting up on targets recently generated in and around the Mining Centre.

“The forecasts for Class 1 nickel demand is quite strong and we are keen for Lynn Lake to be in a position to take advantage of that market.”

Corazon declared the Mineral Resource Estimate to be of a very high quality that is well supported by drilling and historical mining data.

The company anticpates very little additional verification drilling and sampling will be required to upgrade the majority of the defined tonnages in the Resource to the higher Measured category.

The estimation has focused on the EL, N, O, P, Disco and Golf deposits within the Mining Centre.

The nickel sulphide deposits are close to each other, with the EL, N and O deposits having been subjected to historical mining and development.

The Golf deposit was drilled out just prior to mine closure and the Disco deposit was discovered in 2008, well after mine closure in 1976.

Lynn Lake hosts additional deposits, as well as numerous occurrences of drill-defined mineralisation, that are yet to be considered for resource studies.

These areas support the potential for further upgrades to Lynn Lake’s Mineral Resource.

The Lynn Lake deposits provide the opportunity for mining using large tonnage, low cost methods.

The historical mined grades at the A Plug were approximately 0.86 per cent and 0.44 per cent copper with the higher-grade EL Plug being mined at 2.5 per cent nickel and 1.15 per cent copper.

The company claimed the new Resource Estimate grades are consistent with the tenor of mineralisation previously mined at Lynn Lake.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

THE DAILY ROADHOUSE

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Altech Chemicals Explains High Purity Alumina Use in Semi-Conductor Applications

THE BOURSE WHISPERER: Sometimes a company announcement comes along that needs to be brought to the attention of punters, simply due to the information it presents.

Lithium Australia Takes Larger Stake in Battery Recycler Envirostream

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has made further inroads in its quest to ensure an ethical and sustainable supply of energy metals to the battery industry as well as enhancing energy security in the process, by creating a circular battery economy.

Venture Minerals Moves Riley Mine Towards Production

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) provided an update on the progress of construction activities at the company’s Riley iron ore mine in Tasmania.

Altech Chemicals, Lithium Australia and Venture Minerals are all presenting at the upcoming New World Metals Conference.

Azure Minerals Completes Strategic Mexican Land Acquisition

THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has completed the acquisition of the Sara Alicia II mineral concession that adjoins the company’s 100 per cent-owned Sara Alicia property in the northern Mexican state of Sonora.

Altech Chemicals Explains High Purity Alumina Use in Semi-Conductor Applications

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THE BOURSE WHISPERER: Sometimes a company announcement comes along that needs to be brought to the attention of punters, simply due to the information it presents.

Altech Chemicals Limited (ASX: ATC) released such an announcement today; one that provides information regarding the use of high purity alumina (HPA) in the manufacture of epoxy moulding compounds (EMCs) that are used in the semi-conductor industry to improve heat dissipation.

Altech recently commenced an investigation of the EMC for semi-conductor market for the purpose of targeting some of its future HPA product into this market segment.

The information below is straight from the announcement. There has been no editing by The Resources Roadhouse as we feel it tells the story in a much more knowledgeable fashion than we could.

Introduction of alumina into EMCs used in semi-conductors

Typically industrial-strength epoxy compounds are used for the package assembly of semi-conductors, as the epoxy compounds provide the required physical protection, mechanical strength, as well as a number of desired performance properties – primarily in relation to heat and moisture, both of which can destroy a semi-conductor, warp an electronic device (that the semi-conductor is used in), or even cause a device to catch fire.

Electronic devices continue to become more compact – Moore’s Law – the exponential growth in the number of transistors that can be packed into a single semi-conductor.

However, thermal or heat dissipation is a real problem as semi-conductors continue to reduce in size and contain more transistors.

It is suggested that heat could represent the ultimate barrier to the ever smaller and more powerful semi-conductors that end-users have become accustomed to.

The epoxy resins that have traditionally been used for semi-conductor package assembly are reaching their limits in terms of effective heat dissipation.

However, adding thermally conductive materials into the resins has been demonstrated to improve heat dissipation and thereby improve the protection of semi-conductors against heat related failure.

The thermally conductive fillers that are being used include HPA, crystalline silica, and magnesium oxide.

HPA however is a preferred filer, due to its heat conductivity (7 times higher than silica) and a much lower thermal expansion coefficient (50% lower).

Figure 1 below illustrates a typical semi-conductor chip encased in an epoxy resin compound with HPA used as a thermal filler.

The heat produced from a semi-conductor chip and the die pad more efficiently dissipates via the alumina rich epoxy resin and lowers thermal stress related problems for the semi-conductor and the assembly package (integrated circuit board).

Figure 2 below is a scanning electron microscope (SEM) image of HPA used as a filler material in an epoxy resin moulding compound. The image demonstrates the efficiency of the conductive filler within the epoxy resin package.

The purity of the material selected as the conductive filler in an epoxy resin for use in the semi-conductor industry is extremely important, consequently there are very stringent (and low) limits on the impurities permitted in the chosen filler.

Of the impurities, sodium is probably the most detrimental element.

Radioactive material is another detrimental impurity, as gamma rays from an impurity such as thorium increases the likelihood of semi-conductor and/or CPU malfunction.

Thorium is present in bauxite, the traditional feedstock used for the production of aluminium.

A small amount of thorium residue will remain in any HPA produced via the conventional bauxite – alumina – aluminium production process (Bayer process).

Thorium is not present in HPA that is produced from Altech’s kaolin HCL processing route.

Special morphologies (crystal form, shape and structure) are also demanded of the EMC filler, in the case of HPA the industry requires a morphology that is conducive to low viscosity, an attribute that is favourable in the epoxy resin packaging process.

Altech’s preliminary investigation into the demand for high quality HPA from the EMC semi-conductor market indicates a global market size in the range of 700 – 900tpa, with a price of US$100/kg being commanded by product that meets required specifications.

Year-on-year growth in the market is typically in line with growth experienced in the semi-conductor business.

Altech believes that its low sodium HPA, and the morphology of its HPA, may be ideal for the EMC semi-conductor application, and the company intends to commence the development of a product specification that may suit this market sector’s requirements.

 

Email: info@altechchemicals.com

Web: www.altechchemicals.com

 

Venture Minerals Moves Riley Mine Towards Production

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) provided an update on the progress of construction activities at the company’s Riley iron ore mine in Tasmania.

Venture Minerals said it was advancing towards production with site preparation nearing completion.

Recent pre-production capital expenditure has been spent on installing the site offices, construction of the ROM Pad and completion of upgrades to the on-site haulage roads.

The company indicated it is moving closer to finalising and negotiating a road access agreement for a portion of privately held road and nominating a preferred road haulage tenderer.

“Preparations for the first ore shipment are also well advanced with port access agreements being negotiated and positive ongoing discussions with shipping brokers regarding availability of ships for the Riley product,” Venture Minerals said in its ASX announcement.

“Venture continues to work on additional strategies identified to further reduce operating costs on the project before the first ore shipment.

“These cost optimisation programs will focus on increased efficiencies from detailed mine scheduling and enhancing the logistics chain for transporting the iron ore including an application to go to 24-hour trucking.

“The company looks forward to keeping the market informed on any further developments on the Riley Iron Ore Mine.”

 

Email: info@ventureminerals.com.au

Web: www.ventureminerals.com.au

 

Azure Minerals Completes Strategic Mexican Land Acquisition

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has completed the acquisition of the Sara Alicia II mineral concession that adjoins the company’s 100 per cent-owned Sara Alicia property in the northern Mexican state of Sonora.

Azure Minerals was able to complete the acquisition with by overturning an historical cancellation of the Sara Alicia II mineral concession.

The acquisition of Sara Alicia II, when combined with the original Sara Alicia concession, brings the total project area to 49 hectares, which Azure says strengthens its land position in what it considers being a gold and cobalt-rich district.

Azure indicated it is continuing to monitor the surrounding land ownership situation with the view to increasing the company’s landholding in this district when additional land becomes available.

“Sara Alicia II adjoins our current holding and, importantly, the combined area covers the full footprint of the body hosting the high-grade gold and cobalt mineralisation,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“We have been working on acquiring this very strategic concession for over two years and exploration at Sara Alicia was suspended so as not to generate further interest in the area and to ensure the acquisition of Sara Alicia II was completed without interference or competition.

“The Sara Alicia project area is very prospective for high-grade gold and cobalt, as is evident by the exceptional hits from our previous drilling.

“The mineralised body hosting this high-grade gold and cobalt mineralisation is known to extend onto the newly acquired concession and we expect that further exploration will significantly enhance project value.

“The widespread presence of strongly altered carbonate rocks intruded by an underlying porphyry intrusive indicates the property also has good potential for the discovery of a gold-rich skarn of significant size.

“Exploration on Sara Alicia II will initially be reconnaissance in nature, as our primary focus remains on the near-term drilling campaign at Alacrán to grow the existing silver and gold resource base of the Mesa de Plata and Loma Bonita deposits, while continuing to advance the small-scale mining and processing of high-grade zinc-lead ore at Oposura.”

 

Web: www.azureminerals.com.au

 

Lithium Australia Takes Larger Stake in Battery Recycler Envirostream

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has made further inroads in its quest to ensure an ethical and sustainable supply of energy metals to the battery industry as well as enhancing energy security in the process, by creating a circular battery economy.

The recycling of old lithium-ion batteries to new is intrinsic to this plan and Lithium Australia announced the achievement of a key milestone in its circular battery economy plans by confirming an increase in the company’s stake in leading Australian battery recycler Envirostream from 23.9 per cent to 73.7 per cent.

Envirostream recently signed a memorandum of understanding (MoU) with South Korean company SungEel HiTech Co., Ltd for the sale of recycled battery metals that covers the exclusive supply of metals extracted from recycled lithium-ion batteries (LIBs) out of Australia.

That supply comprises mixed metal dust (MMD) that contains the energy metals cobalt, nickel and lithium that are recovered from spent LIBs at Envirostream’s battery recycling plant in Melbourne.

Envirostream is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of spent LIBs, making it a perfect fit with Lithium Australia’s critical battery metal extraction expertise.

During FY19, Envirostream generated $1.3 million in revenue from recycling 149 tonnes of spent batteries.

The expanded plant, which has the capacity to recycle up to 3,000 tonnes per annum of batteries, has been successfully commissioned with first MMD produced.

It is currently in the process of being ramped up and optimised.

“Lithium Australia views the acquisition of a controlling interest in Envirostream as not only taking a key position in the recycling of battery metals, but also providing an environmental solution for all Australians that use batteries,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Following the successful construction and commissioning of Australia’s biggest lithium ion battery recycling plant, Envirostream can now focus on the roll out of its Australia-wide collection network.

“Together, Lithium Australia and Envirostream are developing environmentally responsible solutions to the mounting problems of spent batteries.

“Keeping spent batteries from landfill and exporting the energy metals they contain is an Australian imperative.

“Closing the loop on the production of battery materials reduces the environmental footprint of the mining and processing aspects inherent in battery production, improves sustainability and prevents the components of spent batteries from leaking into groundwater and oceans as a consequence of their relegation to landfill or transport to other jurisdictions.

“Envirostream can provide an immediate and viable solution to the LIB disposal crisis in this country.”

As part consideration for the acquired interest Lithium Australia has made a payment to Envirostream of $100,000, a percentage of which will be used by Envirostream for commissioning its expanded Melbourne battery recycling facilities.

Following the acquisition of LIT’s 73.7 pwer cent interest in Envirostream, the company’s founder Andrew Mackenzie will remain as managing director while Adrian Griffin will be appointed non-executive chairman and Andrew Skalski will be appointed as a non-executive director.

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

THE DAILY ROADHOUSE

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Pioneer Resources Estimates Initial Inferred Mineral Resource for Cade Spodumene Deposit

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) declared it has completed sufficient exploration to estimate an initial Inferred Mineral Resource for the Cade spodumene deposit within the company’s 100 per cent-owned Pioneer Dome project in Western Australia.

Calidus Resources Drilling Underpins Open Pit Resource Upgrade

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported the final batch of RC drilling results from inside the planned Klondyke pit at the company’s 1.25 million-ounce Warrawoona gold project in Western Australia.

Pantoro Confirms High-Grade Mineralisation at Gladstone-Everlasting

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released initial drilling results from the Gladstone-Everlasting deposit (Gladstone) at the company’s 50 per cent-owned Norseman gold project in Western Australia.

Cassini Resources and OZ Minerals Expand WMP Tenure

THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced an extension to exploration tenure at the West Musgrave Project (WMP), a Joint Venture with OZ Minerals Limited (ASX: OZL) in Western Australia.

Carawine Resources Drilling at Victorian Gold-Copper Project Deposit

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) has commenced diamond drilling at the company’s 100 per cent-owned Jamieson project in northeast Victoria that hosts the Hill 800 and Rhyolite Creek prospects.

Ardea Resources Set to Drill at Mulga Plum Gold Deposit

THE DRILL SERGEANT: Ardea Resources (ASX: ARL) reported that rock chip sampling of old workings spoil and sporadic outcrop at the company’s Mulga Plum gold prospect in Western Australia has confirmed gold mineralisation over an area of at least 200 square metres.