Matsa Resources Welcomes IGO Interest in Fraser Range Tenements

THE BOURSE WHISPERER: Matsa Resources (ASX: MAT) has struck a new agreement with IGO, via the latter’s wholly owned subsidiary.

Matsa Resources announced IGO Newsearch will acquire a 70 per cent interest in the Symons Hill project as well as Matsa’s other Fraser Range tenements.

Under the terms of the agreement IGO will pay $600,000 in cash and then free carry Matsa for all exploration to completion of feasibility studies or decision to mine whichever occurs earlier.

“This transaction enables IGO to have unfettered access to any part of Matsa’s Fraser Range landholding and explore the tenements to the fullest extent without specific time or cost demands,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“It provides Matsa with a cash boost as well as receiving the expert knowledge and exploration experience of the IGO team which is second to none.

“Matsa welcomes IGO’s exploration knowhow and capabilities throughout its Fraser Range tenement holdings.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: reception@matsa.com.au

 

Web: www.matsa.com.au

 

 

Austral Resources Enters Exploration Earn-in Agreements with Glencore

THE BOURSE WHISPERER: Austral Resources (ASX: AR1) has struck reciprocal non-binding exploration earn-in agreements with MIM, a subsidiary of Glencore.

Austral Resources explained the reciprocal nature of the Earn-in Agreements will allow for:

(1) MIM to explore 330 square kilometres of Austral EPMs (within JV Area) surrounding MIM’s Lady Loretta zinc, lead, silver Mine and Austral’s Lady Annie copper Mine, and;

(2) Austral to explore for copper oxide over MIM’s 116sqkm neighbouring Russell Fault tenement (EPM26435).

Under the terms of the agreements, MIM will have the rights to earn-in up to a 65 per cent interest of Austral’s JV EPM’s by spending $6.3 million over four years.

Austral retains the right to explore for and commercially exploit oxide copper ore within the Exploration Area.

Additionally, Austral is entitled to earn-in up to 65 per cent interest within MIM’s Russell Fault EPM by spending $2 million over four years, effectively increasing the company’s copper exploration area by 116sqkm.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

“We are excited to collaborate with Glencore on this exploration JV in Queensland’s Northwest Minerals Province,” Austral Resources CEO Steve Tambanis said in the company’s ASX announcement.

“Both parties hold a significant tenure position within the region, and it makes absolute sense to combine the tenure for an intensive exploration program.

“Glencore are our offtake partners for 40,000 tonnes of our Anthill copper cathode and we look forward to working together from an exploration perspective.

“This is a win-win transaction for both Austral and Glencore with the potential to discover new orebodies that can extend operations of both companies in the region.

“Glencore is focussed on discovering new base/precious metal orebodies in this metal-rich area and Austral believes there is excellent potential to define additional oxide copper resources to be processed at its nearby Mt Kelly SXEW plant.

“The prospectivity of the area has been significantly enhanced by two new geophysical datasets (Heli-VTEM and a separate fixed wing Falcon Gravity survey) flown by Glencore in late 2021 and processed earlier this year.

“This new data has generated a number of priority targets for the JV and drilling is expected to commence within months.

“Of note, Austral has retained its rights to explore for oxide copper mineralisation on its own tenure and has negotiated the right to explore MIM’s tenure for oxide copper mineralisation.

“We believe that the increased drilling activity in this area will yield more shallow copper oxide mineralisation.

Of Austral’s 2,100 square kilometres of EPM tenure, this Earn-in agreement applies to a 330 square kilometres portion immediately about the Lady Loretta Mine.

“Austral retains 1,800 square kilometres of EPMs for other exploration initiatives.

“Austral recently commenced processing ore from its Anthill Copper Mine – building to rate of 10,000 tonnes per annum of copper cathode from mid-2022 for a four-year period.

“This will now allow the company to increase the pace of its exploration and development activities.”

 

 

Email: admin@australres.com

 

Web: www.australres.com

 

Meteoric Resources to Sell Juruena Gold Project for $30M

THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) is set to be $30 million to the good after announcing a deal to sell the company’s Juruena gold project in Brazil.

Meteoric Resources is selling Juruena with a price tag of US$22 million to Keystone Resources Ltd, a wholly-owned subsidiary of Alchemist Investments Inc., a holding group with experience in developing mines globally, including Brazil.

Meteoric signalled the deal will allow it to accelerate the development of its Palm Springs gold project in Western Australia whilst seeking further acquisition and investment in complimentary resources projects.

“We are pleased to announce the sale of our Juruena gold project in Brazil for up to US$22,000,000,” Meteoric Resources managing director Andrew Tunks said in the company’s ASX announcement.

“I am very proud of the work we have completed in firstly identifying then securing Juruena followed by our successful exploration of the project over the past three years.

“During this time the team has produced some truly amazing drilling results ultimately resulting in a substantial Mineral Resource of 1.9 million tonnes at 6.3 grams per tonne gold for 387,000 ounces.

“We consider this the ideal moment at which the pass Juruena to a group far better placed than ourselves to now develop the project, allowing Meteoric to focus on what it does best, which is the identification, acquisition and advancement of projects through high quality exploration focusing on results generated at the drill bit.”

The company also announced that Tunks will be standing down as managing director.

“Having delivered this result for shareholders, I feel this is the right time for me to step down from the position of managing director into a non-executive director role,” Tunks said.

“I personally would like to thank shareholders and the Board for the opportunity to lead Meteoric since 2018.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@meteoric.com.au

Web: www.meteoric.com.au

 

Miramar Resources Expands Glandore Project

THE BOURSE WHISPERER: Miramar Resources (ASX: M2R) has expanded the land position of the company’s 100 per cent-owned Glandore project in the Eastern Goldfields region of Western Australia.

Miramar Resources applied for a new Exploration Licence, E25/611, immediately adjacent to its existing Glandore project tenements that is located along strike to the northeast from the Glandore West and Glandore East targets, where high-grade mineralisation up to 4m at 44.3 grams per tonne gold was intersected by historic diamond drilling.

“Our drilling to date has highlighted northeast trending gold mineralisation over about two kilometres of strike, similar to that seen at the nearby Majestic and Trojan gold deposits,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“The new tenement application covers similar geology along strike from the historic high-grade diamond drilling results at Glandore East, so was an obvious piece of ground for us to pursue.”

Miramar explained it is planning to complete a diamond drilling program at the Glandore East target and is currently waiting on availability of a suitable drill rig to do so.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@miramarresources.com.au

 

Web: www.miramarresources.com.au

 

Azure Minerals to Sell Mexican Assets for $20 million

THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) is about to be much richer to the tune of $20 million having entered binding, conditional sale agreements to sell its subsidiary companies that own and operate the company’s Mexican precious and base metals projects to Bendito Resources Inc.

On completion of the deal Azure will bank $10 cash and hold the same amount’s worth of equity in Bendito, which intends listing on the Toronto Stock Exchange within 18 months of completion of the transaction with the Alacrán, Oposura and Promontorio projects forming the company’s core assets.

Alacrán, Oposura and Promontorio are located within the Laramide Copper Province, North America’s most prolific copper-producing district.

“This is a great outcome for Azure and our shareholders,” Azure Minerals managing director Tony Rovira said in the company’s ASX announcement.

“We have realised a significant cash return for the assets while retaining exposure to the upside as the projects are further developed.

“We still see potential in these high-quality, advanced-stage projects and it makes sense for them to sit within a dedicated special purpose group focused solely on Mexico, which can take them through development funded by the North American capital markets.

“The team behind Bendito have a successful track record of identifying, acquiring, developing and operating projects, so retaining exposure to these assets that we know so well should be both exciting and rewarding for Azure shareholders.

“With these extra funds, we will accelerate activities on our Andover nickel-copper project in WA which is proving to be a company-maker for Azure as we progress along the dual pathways of growing the mineral resources and advancing the development studies.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@azureminerals.com.au

 

Web: www.azureminerals.com.au

 

Impact Minerals Acquires New Project for Battery and Strategic Metals

THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has acquired a new project it considers prospective for a range of battery and strategic metals sitting close to the Greenbushes lithium-tantalum mine in the southwest Western Australia.

As consideration for a 100 per cent interest in the project, Impact has paid $20,000 cash to the vendor, and will issue three million unlisted options exercisable at 2.4 cents with a three year term.

The Dinninup project comprises four exploration licences covering about 485 square kilometres (E70/5842, E70/6111, E70/6112 and E70/6113).

As part of its due diligence process, Impact utilised in-house geophysical data to identify several areas of interest for follow up.

New targets identified at Dinninup, include: three new priority nickel-copper-platinum group elements (PGE)-gold targets; two lithium-caesium-tantalum targets; and four rare earth elements (REE) targets.

“The Dinninup project adds further significant value to our early project portfolio in southwest Western Australia,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“Once again, our initial soil geochemistry results indicate untapped potential for a range of battery and strategic metals in this part of the state in an area where there has only been previous exploration for bauxite.

“The strong lithium anomalies are particularly exciting given our proximity to the world-class Greenbushes mine just 60 kilometres to the east and with similar geology.

“Together with our flagship Arkun-Jumbo project Impact has identified a significant number of areas for follow up work in the region and we are continuing to negotiate land access agreements to gain access to the priority targets.”

 

 

 

Email: info@impactminerals.com.au

 

Web: www.impactminerals.com.au

 

Corazon Mining Progresses Miriam Project Acquisition

THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has further progressed its rights to acquire 100 per cent of the Miriam nickel sulphide project near Coolgardie in Western Australia.

Corazon announced an agreement with the project vendor in 2021 to acquire the Miriam project, since when the company has now completed Stage 2 of the acquisition.

Having completed Stage 2 Corazon is now entitled to 100 per cent of the project taking sole control and management on behalf of all parties, with the vendor retaining the right to mine mullock dumps for gold mineralisation and to metal detect on the area for the first three years post granting of the relevant tenure.

Corazon considers Miriam a highly prospective nickel exploration project that represents a strategic addition to its portfolio of nickel sulphide assets.

“Corazon is enthusiastic about the project’s exploration potential,” Corazon Mining said in its ASX announcement.

“Drilling undertaken predominantly in the 1960s and 1970s at the Miriam nickel deposit intersected ‘high nickel tenor’ massive and disseminated sulphides.

“Corazon has highlighted extensions to areas of known mineralisation as the initial priority exploration focus.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au

 

Ausgold and Cygnus Gold Strike Stanley Farm-in Agreement

THE BOURSE WHISPERER: Ausgold (ASX: AUC) and Cygnus Gold (ASX:CY5) have inked a Farm-in Agreement regarding the latter’s Stanley gold project, located 25 kilometres northeast of the former’s 100 per cent-owned Katanning gold project in Western Australia.

Under the terms of the agreement, Ausgold has the right to earn up to an 85 per cent interest in the project over three years by spending:

$500,000 over 24 months to earn 51 per cent; and
A further $250,000 in the final 12 month period to earn an additional 34 per cent interest.

The Stanley gold project comprises two exploration licences E70/5131 and E70/4787 covering approximately 233 square kilometres of the northern Katanning Greenstone Belt.

Past drilling at the project has intersected gold grades of note.

Six advanced drill-ready targets, including those adjacent to Ausgold’s extensive ground position, have previously been identified by way of recently collected geophysics, geochemistry and drilling activities.

Ausgold considers the project’s a large, mineralised strike length demonstrates potential for large scale discovery in a relatively underexplored region.

“The Farm-in Agreement with Cygnus adds a district-scale option that supports our ambition to establish a multi-million-ounce Resource position at Katanning,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement

“The greater Katanning area is under-explored and based on previous work, we see no reason why the region cannot host additional Katanning central zone high-grade style discoveries.

“Ausgold has already established a 1.84 million ounces Resource at Katanning and is well funded to leverage this experience to unlock the potential of the broader Katanning district.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Lithium Energy Receives Second Argentine EIA Approval

THE BOURSE WHISPERER: Lithium Energy (ASX: LEL) has gained a second Environmental Impact Assessment (EIA) approval from the local Jujuy Provincial Government Mining Authority to undertake exploration works at the company’s Solaroz lithium brine project in Argentina.

The second approval will allow Lithium Energy to commence exploration works on the Mario Angel tenement, which is located at the western side of the Salar de Olaroz basin.

Mario Angel is approx. six kilometres west from the Allkem’s lithium brine production bore fields used for extraction of lithium brine from the Olaroz Salar for subsequent processing at Allkem’s Olaroz Lithium Processing Facility.

Mario Angel is the second of eight mineral tenements located in the Olaroz Salar held by Lithium Energy.

The company anticipates this second EIA approval will result in approvals for the remaining six tenements to be received shortly.

“The receipt of the second of the Government approvals to start exploration at Solaroz is another important milestone for Lithium Energy and a further positive endorsement by the Argentinian Government Authorities of the Solaroz lithium project,” Lithium Energy executive chairman William Johnson said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@lithiumenergy.com.au

Web: www.lithiumenergy.com.au

 

 

Musgrave Minerals Acquisition Flexes Murchison Muscle

THE BOURSE WHISPERER: Musgrave Minerals (ASX: MGV) via its subsidiary Musgrave Exploration Pty Ltd has entered a Sale and Purchase Agreement with Eastern Goldfields Exploration to acquire a 100 per cent interest in tenements that comprise the Mt Magnet South project.

The Mt Magnet South project is located within trucking distance of Musgrave’s Cue gold project in Western Australia’s Murchison goldfields and just five kilometres south of the township of Mt Magnet.

The Mt Magnet South project is made up of a group of 19 semi-contiguous prospecting and exploration licences covering an area of approximately 294 square kilometres, which almost doubles Musgrave’s landholding in the Murchison.

The project is an early stage, under-explored greenfield opportunity, in a good location with nearby infrastructure.

Musgrave believes the project provides an additional opportunity for it to apply the exploration learnings it has gleaned from its discovery success 40km to the north at the Cue project to make further discoveries in the Murchison.

The company said future discoveries have the potential to add to its growing resource base in the region, enhancing the value of the Cue project.

“This opportunity grows Musgrave’s landholding by adding further prospective ground in the region,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The new project area is directly along strike from Ramelius’ Mt Magnet operations and provides the opportunity for Musgrave to continue to utilise its exploration expertise to make further discoveries in the region.

“The acquisition maintains our alignment with the strategy to grow the resource base at Cue in the near-term while generating a pipeline of longer-term projects and opportunities.”

Musgrave is now compiling historical data that is being digitised, plotted and reviewed in detail to enhance targeting.

A regional gravity survey will be undertaken and integrated with existing aeromagnetic data, and geological and geochemical datasets to enhance drill planning to test high-priority basement gold targets.

Musgrave’s stated objective at Mt Magnet South is to define, through discovery, a pipeline of additional high-grade gold resources that that can be economically trucked the 40km north to a potential future operations hub at Musgrave’s mainstay Cue gold project.

Musgrave outlined its strategy as being to identify and secure additional early-stage exploration ground in the region to build on the company’s success at Cue and maintain a long-term pipeline of opportunities.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au