VRX Silica Granted Arrowsmith Mining Leases

/in , /by

THE BOURSE WHISPERER: VRX Silica (ASX: VRX) has had Mining Leases granted for the company’s Arrowsmith North and Arrowsmith Central silica sand projects, located north of Perth in Western Australia.

VRX Silica has completed studies on the projects that demonstrate combined 3600-hectare Mining Lease areas can support over 100 years of production.

The Arrowsmith North Mining Lease area contains Probable Ore Reserves of 204 million tonnes at 99.7 per cent silicon dioxide (SiO2).

The Arrowsmith Central Mining Lease area contains Probable Ore Reserves of 18.7 million tonnes at 99.6 per cent SiO2.

“The grant of Mining Leases for our Arrowsmith Silica Sand Projects is another significant milestone for VRX Silica, hot off the heels of the Mining Lease granted for our Muchea Silica Sand Project,” VRX Silica managing director Bruce Maluish said in the company’s ASX announcement.

“As for Muchea, there is strong demand for Arrowsmith sand and we will now look to finalise sales contracts for high-quality silica sand products and secure the necessary funding for the development of these projects.

“All three projects have outstanding economic prospects and will support a substantial export industry in Western Australia providing significant financial and employment benefits to the State.

“With all three Mining Leases granted and development of our projects on-track, VRX Silica is truly a global player in high-quality silica sand supplies.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@vrxsilica.com.au

 

Web: www.vrxsilica.com.au

 

RareX Raises $30M to Advance WA Rare Earths Projects

/in , /by

THE BOURSE WHISPERER: RareX Limited (ASX: REE) received commitments to raise $3 million via a share placement to institutional, sophisticated and professional investors.

Rare X raised the funds at 10 cents per share, a nice discount to its current share price of 12 cents, resulting in 30 million new fully-paid ordinary shares to be issued.

The raising received strong support from existing institutional and professional investors, with the company’s Directors also chipping in by collectively subscribing for $90,000 worth of shares.

The shares to be issued to the Directors will be subject to shareholder approval at a meeting to be convened in due course.

The company indicated the proceeds of the placement will be used to fund upcoming drilling programs at the company’s Weld North rare earths project; and to complete a Mineral Resource update, initial scoping studies and further exploration at the Cummins Range rare earths project.

“We are delighted by the strong support for this capital raising, which has introduced a number of new shareholders to the register and will see the company well placed to accelerate our rare earth exploration and development programs,” RareX managing director Jeremy Robinson said in the company’s ASX announcement.

“Investors can look forward to a news-flow-rich period for RareX with the potential to deliver numerous catalysts that could well and truly re-rate the stock.

“We are very much looking forward to testing the Weld North project, which shows some compelling early-stage similarities to Lynas Corporation’s Mt Weld rare earths deposit, which underpins one of the world’s highest-grade rare earth mines.

“Air-core drilling is set to commence at Weld North before the end of the year, providing our first real insight into the source of the large-scale magnetic anomaly and its potential to host a significant new discovery.

“In addition, the funds will also be used to progress our Cummins Range rare earths project, including the delivery of an updated Mineral Resource Estimate and the commencement of initial Scoping Studies.

“Further news-flow on this front is imminent, with outstanding assays from the recently completed drilling expected over the next 2 to 3 weeks.”

 

 

Email: info@rarex.com.au

 

Web: www.rarex.com.au

 

Cazaly Resources Moves to 100 per cent Ownership at Halls Creek

/in , /by

THE BOURSE WHSIPERER: Cazaly Resources (ASX: CAZ) has taken 100 per cent-ownership of the Halls Creek project in Western Australia.

Cazaly Resources already owned 20 per cent of the project and purchased the remaining 80 per cent from 3D Resources (ASX: DDD).

The Halls Creek project comprises granted Mining Lease 80/247 situated near the township of Halls Creek covering part of the Halls Creek Mobile Zone, which is considered prospective for a range of commodities including base metals, gold, diamonds and nickel.

The project hosts the Mount Angelo copper-zinc deposit, a zone of near surface oxidised copper-zinc mineralisation overlying massive copper-zinc sulphide mineralisation.

Previous results from work conducted by Cazaly prior to the JV included:

64m at 2.72 per cent copper (1.13 per cent zinc);
62m at 2.41 per cent copper (2.75 per cent zinc);
37m at 2.63 per cent copper (6.05 per cent zinc);
16m at 5.91 per cent copper; and
18m at 2.53 per cent copper.

The company will be conducting a review of all previous exploration on the project,” Cazaly Resources said in its ASX announcement.

“There remains very good upside potential with mapping defining the untested northern extensions of the deposit including mapping out of the important Banded Iron Formation capping unit.

“Furthermore, downhole EM conductors previously defined have yet to be drill tested.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@cazalyresources.com.au

 

Web: www.cazalyresources.com.au

 

 

Galan Lithium Takes 100% Ownership of Argentine Projects

/in , /by

THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) has acquired further, important strategic projects alongside the company’s Hombre Muerto West tenements in Argentina.

Galan Lithium announced that it has completed the purchase of 100 per cent interest in the Del Condor and Pucara lithium brine salar projects that abut the Hombre Muerto West tenements.

The Del Condor and Pucara comprise two claim blocks totalling 1,804-hectares and are located within the world-class, Salar del Hombre Muerto, where Livent Corporation (NYSE: LTHM) is currently producing lithium carbonate and Galaxy Resources (ASX: GXY).

Galan has now consolidated HMW that is expected to host a resource with a continuous polygon of approx. 7.5 kilometres strike, up to approx. 2.5km in width and up to 718m in depth as recorded at Pata Pila.

Of note, the projects abut Galan’s Pata Pila, Deceo III and Rana de Sal interests, which currently house an indicated resource of 1.37 million tonnes LCE at 946Mg/L lithium.

“Despite COVID-19 constraints, the team in Argentina has delivered on our original vision from 2017,” Galan Lithium managing director JP Vargas de la Vega said in the company’s announcement to the Australian Securities Announcement.

“HMW is now a significant polygon, the acquisition and the annex of these new tenements consolidates the project as a genuine lithium development in Argentina.

“We look forward to receiving the Resource Update from SRK and including the new data into our PEA/Scoping Study due in Q4 2020.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

Neometals Completes Busy Week

/in , /by

THE BOURSE WHISPERER: Neometals (ASX: NMT) was busy this week, announcement wise, this week announcing a battery recycling Memorandum of Understanding and vanadium recoveries at a mini-pilot plant.

Neometals, by way of Primobius GmbH, the joint venture company owned 50:50 by Neometals and SMS group GmbH, executed a non-binding MoU with InoBat j.s.a., a founder and the controlling person of a Slovakian battery manufacturing company, InoBat Auto j.s.a.

The MoU provides an evaluation framework towards a potential Primobius-InoBat commercial cooperation that will operate a commercial lithium-ion battery recycling facility in Central/Eastern Europe.

“Reaching preliminary development terms with a battery producer so quickly after Primobius’ establishment reflects the status of our project and the industrial scalability of our recycling solution,” Neometals managing director Chris Reed said in the company’s announcement to the Australian Securities Exchange.

“Europe leads the world in electric vehicle value chain investments and we are seeing first-hand how industry is positioning to ensure that brands can deliver the lowest carbon footprint products and support resource efficiency and circular economy principles.

“Primobius is very well placed to capitalise on the push for domestically sourced supply chains and this deal with InoBatis a material endorsement of the Primobius business plan.

“The relevance of the MoU should also be considered in the context of the consortium of conglomerate partners that sit behind InoBat(inc. CEZ, MOL and IPM Group)”

Neometals followed up this announcement with news of the completion of a mini-pilot test work campaign on the company’s Vanadium Recovery Project (VRP).

Results confirmed excellent vanadium chemical product purity (greater than 99.5 per cent V2O5), strong recoveries (>75%) and reduced residence time for Neometals’ patent pending hydrometallurgical process for recovering vanadium from Slag.

Earlier this year, Neometals executed a collaboration agreement with Critical Metals Ltd, to jointly evaluate the feasibility of constructing a facility to recover and process high-grade vanadium products from vanadium-bearing steel by-product (Slag) in Scandinavia.

Critical, in turn, has executed a conditional Slag Supply Agreement with SSAB EMEA AB and SSAB Europe Oy, subsidiaries of SSAB, a steel producer that operates steel mills in Scandinavia.

Slag is a by-product of SSAB’s steel making operations.

Neometals explained the Slag Supply Agreement provides a secure basis for the evaluation of a potential Slag Recovery Facility capable of processing 200,000 tonnes of Slag per annum without the need to build a mine and concentrator like existing primary producers.

“We are very pleased with the results of the Mini-Pilot campaign,” Chris Reed said.

“This substantially de-risks our patent-pending processing flowsheet and gives us the confidence to commence the PFS.

“We now shift our attention to the design phase of the larger proposed pilot plant which will leach material from three of SSAB’s steel operations in a mild carbonate solution at moderate temperatures and atmospheric pressure.

“The beauty of our process is that the main reagent is carbon dioxide, which we plan to capture from third-party emission to sequester some 65,000 tonnes in our leach Residue rendering it inert and available for secondary use.”

 

 

TO READ THE FULL MoU ANNOUNCEMENT: CLICK HERE

 

TO READ THE FULL MINI-PILOT ANNOUNCEMENT: CLICK HERE

 

 

Email: info@neometals.com.au

 

Web: www.neometals.com.au

 

Coda Minerals Puts Finishing Touch on ASX Listing

/in , /by

THE BOURSE WHISPERER: Coda Minerals (ASX: COD) joined the ranks of the ASX-listed exploration plays this week on the back of a heavily oversubscribed Initial Public Offering (IPO) that raised $8.5 million at an issue price of 30 cents per share.

Coda Minerals is aiming to unlock the value of what it perceives as being a prime exploration asset: the Elizabeth Creek copper project in the Gawler Craton of South Australia.

Punters seemed to share the company’s enthusiasm, welcoming it with an opening day price of 44 cents, closing at 46 cents.

The company intends spending the raised monies to complete an extensive exploration program at Elizabeth Creek in 2020/21, for which it has wasted little time with drill rigs already arrived on site ahead of its stated schedule in mid-October that have commenced drilling.

The project currently covers over 700 square kilometres of the Olympic Dam Copper Province, Australia’s most productive copper belt, and is located reasonably close to BHP’s Olympic Dam copper-gold-uranium mine and OZ Minerals’ Carrapateena copper-gold project.

Elizabeth Creek currently has a JORC compliant Indicated Mineral Resource Estimate of 158,000 tonnes copper and 9400 tonnes cobalt.

Coda Minerals is actively exploring for both Zambian style copper-cobalt and IOCG copper deposits on the Elizabeth Creek tenure.

“Emmie Bluff, a sediment hosted, Zambian style copper-cobalt prospect was defined as a priority target last year following extensive reinterpretation through drilling and two forms of geophysical surveys,” Coda Minerals chief executive officer Chris Stevens said in the company’s listing announcement to the Australian Securities Exchange.

“Although already of potentially significant scale, geophysical interpretation shows the potential for large-scale extensions to the south, and also to the north east and west of the existing drill backed mineralisation.

“Emmie Bluff is the first of several high priority prospects that we intend to drill over the next 18 months with drilling already having commenced with both diamond and RC rigs already turning on-site.

“We are focused on building shareholder value as we systematically explore the Elizabeth Creek tenement package for both Zambian style copper-cobalt and Olympic Dam style IOCG copper deposits.”

 

Email: info@codaminerals.com.au

 

Web: www.codaminerals.com.au

 

 

Miramar Resources IPO Makes Big Opening Day Splash

/in , /by

THE BOURSE WHISPERER: A new exploration company with a familiar face at the helm has set up residence on the boards of the Australian Securities Exchange.

The newest gold exploration play to hit the bourse is Miramar Resources (ASX:M2R) on the back of a heavily oversubscribed Initial Public Offering (IPO) that raised $8 million at an issue price of 20 cents per share.

The company has former Doray Minerals and Riversgold head, Allan Kelly sitting at the head of the Boardroom table in the executive chairman role.

Miramar Resources enjoyed a satisfying first day trading, opening at a healthy 56 cents before settling down to an impressive 41.5 cents.

The company is eager to get out on its highly prospective exploration projects within the Eastern Goldfields and Murchison regions of Western Australia.

Miramar’s immediate focus will be on the Gidji Joint Venture project (Miramar 80%) located north of Kalgoorlie.

The first drilling campaigns at Gidji will test several targets including the potential for extensions to the Runway gold deposit located immediately south of the project’s southern tenement boundary where KCGM outlined a Mineral Inventory of 314,000 ounces in 2017.

The company considers there to be potential for the oxide and primary gold mineralisation seen at Runway to continue to the north, onto Miramar’s tenements.

There is a lack of deep drilling across the Gidji JV project however limited wide-spaced aircore drilling has demonstrated anomalous gold extending for at least a further two kilometres north of the Runway deposit.

Miramar has planned initial aircore and RC drilling programs at Gidji and has recently received approval from the Department of Mines, Industry Regulation and Safety (DMIRS) for these programs.

The company has received statutory approvals from DMIRS for initial drilling campaigns at the Lang Well and Glandore projects and is working towards heritage approval for the Glandore project.

Miramar’s Executive Chairman, Allan Kelly, said the Company was overwhelmed by the level of interest in the IPO and welcomed the Company’s new shareholders.

“It is a great time to be a West Australian focused gold exploration company,” Kelly said in the company’s opening day announcement to the ASX.

“We have compiled a portfolio of under-explored but highly prospective exploration projects in two world class gold provinces and within close proximity to a number of existing gold mining and processing facilities.

“It’s fantastic to see that investors have enthusiastically embraced our strategy.”

 

 

Email: info@miramarresources.com.au

 

Web: www.miramarreources.com.au

 

Blackstone Minerals Reports Completed Ta Khoa Scoping Study

/in , /by

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) reported the completion of the Scoping Study for the development and restart of the company’s Ta Khoa nickel-copper-PGE project in Vietnam.

Blackstone Minerals views the Scoping Study as an initial platform, from which it can build a mine-to-market nickel business over the coming years; one with multiple upside opportunities for the future.

Blackstone has already commenced the next phase of Pre-Feasibility Studies.

The existing modern mine infrastructure at Ta Khoa provides the ideal pad from which Blackstone can launch it ambition of building a fully integrated mine-to-market nickel business.

The company is determined to build one of the world’s first green nickel processing facilities to produce downstream nickel products for the lithium-ion battery industry.

The maiden resource at Ban Phuc (indicated resource of 44.3Mt at 0.52% nickel for 229,000 tonnes nickel and Inferred Mineral Resource of 14.3Mt at 0.35% nickel for 50,000 tonnes nickel) is a good start, from which to build a world class nickel mining centre supported by a downstream processing facility.

The Ta Khoa Nickel- copper-PGE project is currently powered by South East Asia’s largest hydro power plant located nearby in the Son La Province.

“The Scoping Study defines a project path that maximises economics, minimises environmental and social impacts, and offers a lasting legacy to the people in our local community,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“Whilst we are pleased with the outcomes of this study, we will continue to expand our resource and increase our production potential in this exciting, and yet under-explored region of Vietnam and have commenced work on PFS level studies for the project.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

 

Mt Ridley Mines Joins Weld Range Explorers Club

/in , /by

THE BOURSE WHISPERER: Mount Ridley Mines (ASX: MRD) has picked up 100 per cent interest in the Weld Range West iron project, located in the Mid-West region of Western Australia.

The Mt Weld West project is located northeast of Geraldton, in an area well known for its banded iron formation (BIF) and iron deposits.

The bulk of the Weld Range is held by SinoSteel, which is looking to mine two deposits, Beebyn and Madoonga.

The Madoonga deposit is in the Madoonga Formation, 12 kilometres north east from Mt Ridley’s project.

Others in the region include Fenix Resources, which is currently advancing an approximately 10 million tonnes Direct Shipping Ore (DSO) operation at its Iron Ridge project, from which first shipments are anticipated early CY 2021.

Mount Ridley chairman Peter Christie noted the substantial resources of Iron Ore that have been defined by Sinosteel and Fenix, adding that detailed drilling is yet to test iron targets within Mount Ridley’s ground.

“A review of previous work by earlier explorers has provided Mount Ridley with walk-up drill targets for possible high-grade haematite and goethite ore initially in the Wilgie Mia Formation directly along strike from known iron deposits,” Christie said in the company’s announcement to the Australian Securities Exchange.

The Weld Range West Iron Project area comprises three granted exploration licences that cover a total area of approximately 76 square kilometres.

Native Title has been partially determined in favour of the Wajarri Yamatji people.

A working Heritage Protection Agreement is currently in place, which will be assigned to the company at completion of the acquisition.

 

 

Web: www.mtridleymines.com.au

 

Panoramic Resources to Divest Panton PGM Project

/in , /by

THE BOURSE WHISPERER: Panoramic Resources (ASX: PAN) is selling its Panton PGM project and associated tenements to Dubai 2020 Limited, a private family office investor represented by CPS Capital Group.

Panoramic Resources explained the Agreement is consistent with the company’s stated intention to divest non-core assets and focus on its Savannah nickel project in Western Australia.

Panoramic will retain a 20 per cent free carried interest until any decision to mine.

This interest is subject to Dubai 2020 not exercising its right to acquire the remaining 20 per cent of Panton by a further $3 million payment to Panoramic.

“We are pleased to have progressed the sale of the non-core Panton asset as previously outlined,” Panoramic Resources managing director and CEO Victor Rajasooriar said in the company’s announcement to the Australian Securities Exchange.

“We now look forward to working with Dubai 2020 towards a successful completion of the sale of Panton in early December.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@panres.com.au

 

Web: www.panoramicresources.com.au