Caprice Resources Completes West Arunta Acquisition

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THE BOURSE WHISPERER: Caprice Resources (ASX: CRS) has purchased real estate in the highly prospective rare earth hotspot of the West Arunta region of Western Australia.

Caprice Resources has completed acquisition of 90 per cent of the Bantam project consisting of four tenements (one granted, three applications), providing it with the fourth largest land holding in the region.

The project is adjacent to and shares a 30km long border with WA1 Resources’ (ASX: WA1) West Arunta project, host to the world class Luni niobium-REE discovery.

Caprice has taken confidence from the WA1 Luni and Pachpadra niobium discoveries, along with Encounter Resources’ recent Crean niobium discovery, which it considers have highlighted the region’s prospectivity for niobium and rare earths, generating a new geological model targeting niobium rich carbonatites, hosted within carbonate rich subduction zones along regional and local fault zones.

“With the formal completion of the Bantam project, following our comprehensive due diligence review, encompassing geological, geophysical, tenement and heritage considerations, we are now ready to commence our exploration activities in the West Arunta,” Caprice Resources chairman Glenn Whiddon said in the company’s ASX announcement.

“The acquisition secures Caprice a commanding land position, the fourth largest ASX-listed exposure, in this highly fertile and chronically underexplored region which is being proven to host world class discoveries.

“Geophysical works will commence this month and we look forward to building our relationship with the local Kiwirrkurra community as we work through the appropriate heritage approvals process.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Legacy Minerals Eyes Bullseye Targets in Thomson Project

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THE BOURSE WHISPERER: Legacy Minerals (ASX: LGM) has picked up what it described as, “a new belt-scale exploration opportunity for large-scale mineral deposits” being the Thomson project in New South Wales.

Legacy Minerals considers the Thomson project a standout opportunity for the company as a highly prospective prospect for iron oxide copper-gold (IOCG) and intrusion related gold (IRG) discoveries.

The project is located west of Bourke, NSW and covers approx. 5,500 square kilometres of tenure in one of the most under-explored geological provinces in Australia.

Legacy explained there to be numerous, undercover targets across the project defined by discrete, ‘bullseye’ magnetic and gravity anomalies with similar character to other Tier-1 deposits.

The company will be systematically progressing the project implementing the latest generation of geophysics, geochemistry, and machine learning to refine drill targets.

“With the opportunity to target large-scale gold and copper discoveries, the Thomson project brings a significant addition of high-quality, Tier 1 drill targets to the Legacy Minerals portfolio,” Legacy Minerals CEO and managing director Christopher Byrne said in the company’s ASX announcement.

“Like our projects at Black Range, Bauloora, Glenlogan, and Drake, the Thomson project fits Legacy Minerals’ strategy of acquiring projects where the discovery opportunity is wide open.

“We consider the Southern Thomson region to be one of the most under-explored orogens in Australia and our reason for staking a significant position here is in line with the belief that the next major new mineral province will be undercover and is yet to be found.

“The limited historical testing of the known mineral systems, which has already been defined at Thomson, presents Legacy Minerals with the opportunity of aiming to discover very large deposits based on the geophysical expression of their often very large alteration signature.

“Characterised by discrete, ‘bullseye’ magnetic and gravity anomalies, the targets in the Thomson project are of a similar character to other Tier-1 IOCG and IRG deposits.

“Not only do they represent significant discovery potential, but further upside is also secured through Legacy Minerals control of virtually the entire southern portion of the belt.

“We have a simple plan to realise value on the project.

“As there has been no on-ground exploration here for over 10 years Legacy Minerals are looking to conduct a systematic review of the targets, historical drilling and geophysical data.

“We are also in a position to capitalise on the extensive Government pre-competitive geophysical and geological data that has been collected over the terrain for a number of years.

“Legacy Minerals’ tenure in NSW now covers over 8,000sqkm and encompasses several significant, district sized projects.

“With a focus on being good stewards of shareholder capital we plan to maintain our attention on drilling and target generation at Black Range and Drake while our Bauloora project, under a farm-in and joint venture with Newmont, and Glenlogan project, under a farm in and joint venture with S2 Resources Earn-In, are in the process of being drill tested.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Corazon Mining Makes High-Grade Zinc Acquisition

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) is to acquire three drill-defined zinc-copper-gold deposits, near the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in the province of Manitoba, Canada.

Corazon Mining sees zinc-copper as possible high-value feedstock for a future mineral processing operation at Lynn Lake while maintaining the company’s Canadian focus on critical minerals.

The three deposits add to Corazon’s existing portfolio of seven zinc-copper-gold deposits within its 100 per cent-owned Lynn Lake tenure, and include:

The high-grade MacBride deposit that hosts historically published metal endowment, with continuity from surface to approx. 300m drilled depth.

The deposit has been drilled by previous owners over a 400m strike and remains open in all direction – the deposit is part of a 1,800m long EM conductor defined by modern aerial geophysics.

The Wellmet prospect displays surface copper and EM conductors.

Drilling of the main zinc horizon at Wellmet over a 240m strike has defined mineralisation from surface to approx. 370m depth.

Limited exploration drilling at the Barrington prospect has targeted a small outcrop reportedly approx. 107m in strike, averaging 4.6m in width and 2.63 per cent copper.

Corazon outlined its immediate work on the deposits will be focused on collating historical exploration data and defining the resource potential of the zinc-copper deposits within the Lynn Lake region and defining new targets and deposit extensions utilising the company’s own extensive dataset of modern geophysics.

“Our strategy for the Lynn Lake mining studies is to deliver low operational costs,” Corazon Mining chairperson Terry Streeter said in the company’s ASX announcement.

“The knock-on effect of this is that with lower costs, there are lower cutoff grades, resulting in a much larger mining inventory for consideration, within the existing resource areas.

“We don’t need more tonnes.

“This VMS concept is about value.

“The grade we see in some of these zinc-copper deposits is very good, and we will seek to establish if this is value we can exploit up-front for a restart of mining at Lynn Lake.

“Alternatively, we will explore whether the VMS deposits are better suited to mining later in the project’s mine plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Ausgold Raises $38M to Fast Track KGP Development

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THE BOURSE WHISPERER: Ausgold has raised $38 million to accelerate development of the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold reported it has received firm commitments totalling $38 million in a two-tranche placement to institutional and sophisticated investors.

The company indicated the funds raised will primarily be used to underpin ongoing work programs at the 3.04 million ounce KGP through to a Final Investment Decision (FID), including the completion of the Definitive Feasibility Study (DFS), settlement of freehold land acquisitions, continuation of regional exploration and the provision of working capital as well as to fund the redemption of unsecured loan notes issued by the company.

The raising received strong demand from large institutional investors from UK, Europe and North America and was heavily supported by contributions from key existing shareholders.

Ausgold’s newly appointed executive chairman John Dorward was a notable contributor committing to subscribe for $1 million under the Institutional Placement, subject to Ausgold obtaining shareholder approval for the purpose of the ASX Listing Rules.

“This landmark capital raising will underpin the completion of key work programs at the Katanning Gold Project, which will position Ausgold for a pivotal phase of growth,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“We are now completing the final elements of the Definitive Feasibility Study for the project development, which will be delivered in the second half of this year.

“Funding also enabling the company to complete the acquisition of key farming properties that cover the main orebody and infrastructure areas.

“Further project de-risking will include a program of grade control drilling and the placement of orders for long-lead items for the project development.

“Exploration along the 17 kilometres KGP mine trend and thirteen drill ready regional targets will aim to deliver the multi-million-ounce potential at Katanning.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

GreenTech Metals and Anax Metals Strike Copper Focussed Pilbara Based Metal Alliance

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THE BOURSE WHISPERER: GreenTech Metals (ASX: GRE) has struck a deal with Anax Metals (ASX: ANX) to jointly assess potential of the latter to treat the former’s base metal assets.

GreenTech Metals and Anax Metals have signed a non-binding and non-exclusive Memorandum of Understanding (MoU) under which they will assess potential treatment of ore from GreenTech’s wholly-owned open-pittable Whundo deposit, at Anax’s fully-permitted Whim Creek Processing hub.

The proposed Whim Creek project (80% owned by Anax and 20% owned by Develop Global) will consist of a new concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore.

Here’s where the deal makes sense; Whim Creek is located 115 kilometres southwest of Port Hedland in the West Pilbara region of Western Australia, and just 100km northeast of GreenTech’s Whundo deposit.

The two companies are forming a Pilbara Base Metal Alliance which they envisaged to consist of base metal explorers that are seeking to monetize assets that are within trucking distance of Whim Creek.

“This is a great opportunity for GreenTech that could see a formalised Alliance with Anax taking significant steps towards establishing near-term mining operations at our Whundo project,” GreenTech Metals managing director Tom Reddicliffe said in the company’s ASX announcement.

“Our project already has defined open-pittable copper and zinc resources and potential to define additional near surface resource tonnes at both Yannery and Ayshia.

“The alliance could be the catalyst that the West Pilbara needs to become a significant copper producer and we look forward to working closely with Anax to make this a reality.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Torque Metals to Acquire WA Gold and Lithium Tenements

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THE BOURSE WHISPERER: Torque Metals (ASX: TOR) is to acquire 100 per cent of an extensive and strategic package of tenements with gold and lithium potential in the Goldfields region Western Australia.

Torque Metals declared the option agreements to be consistent with the company’s stated strategy to consolidate further highly prospective ground in the vicinity of its Penzance Exploration Camp, which contains the New Dawn lithium and Paris gold discoveries.

The company explained that part of the tenement package is located west of Horse Rocks where Lord Resources has a binding farm-in agreement with Mineral Resources and has identified multiple stacked pegmatite swarms, displaying extensive fractionation.

These tenements have been interpreted to share similar geological characteristics and structural setting to the Kangaroo Hills and Mt Marion lithium projects, being dominantly on greenstone belts with an adjacent intrusion.

Tenements in the Spargoville region are considered by Torque to have potential for gold and lithium mineralisation, sharing tenement boundaries with Kali Metals and Marquee Resources.

Torque has also applied for further tenements, which subject to grant to Torque, is expected to allow Torque to expand its New Dawn lithium project to areas where Arcadium Lithium and Mineral Resources are major tenement holders.

“Torque is pleased to announce the options, which pave the way for a significant expansion of its presence in the WA Goldfields through the acquisition of multiple titles with gold and lithium potential, which upon transfer to Torque will increase Torque’s project aggregation to approximately 1200 square kilometres, thereby establishing it as a major high-quality tenement holder in the region,” Torque Metals managing director Cristian Moreno said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Killi Resources Inks JV with Gold Fields on West Tanami Project

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THE BOURSE WHISPERER: Killi Resources (ASX: KLI) announced the execution of an Option and Joint Venture Agreement with Gold Fields for the company’s West Tanami project in the Kimberley region of Western Australia.

Killi Resources reached the deal with Gold Fields via an indirect wholly owned subsidiary of that company, under which $13 million will be spent to earn an 85 per cent interest in the West Tanami project.

“We are thrilled to have a partner in Gold Fields at the West Tanami project,” Killi Resources chief executive officer Kathryn Cutler said in the company’s ASX announcement.

“This partnership allows access to expertise and funding for the longer-term and will ensure the project continues its progress in pursuit of a new orogenic gold system in the Tanami.

“Importantly, this $15 million valuation of the West Tanami project, represents just one of Killi’s three 100 per cent-owned belt-scale copper-gold assets.

“Whilst the JV enables systematic exploration to continue in the Tanami, it also enables Killi to focus exploration at the Mt Rawdon West project where the company will continue to explore in 2024 for a new copper-gold system near Bundaberg.”

Killi Resources’ project portfolio also holds two wholly-owned projects in Queensland, based near Townsville in the Charters Towers region and Bundaberg in the Mt Rawdon district, where the company is focused on finding a new gold and/or copper deposit.

The two projects are belt-scale land holdings, located in well-endowed mineral provinces, that are significantly underexplored and amenable to a new large-scale discovery.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Ardea Resources Provides Nickel Sector Lifeline

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THE BOURSE WHISPERER: Ardea Resources (ASX: ARL) is keeping the Australian nickel sector alive with the announcement of a Joint Venture to develop the Goongarrie Hub within the company’s Kalgoorlie Nickel Project (KNP) in Western Australia.

The Kalgoorlie Nickel Project hosts one of the largest nickel-cobalt resources in the developed world hosting 854 million tonnes at 0.71 per cent nickel and 0.045 per cent cobalt for 6.1 million tonnes of contained nickel and 386,000 tonnes of contained cobalt.

Ardea claims this places the company in prime position to provide essential supplies of ESG-compliant nickel and cobalt, along with other critical minerals such as scandium.

The Goongarrie Hub is located just outside the Western Australian mining heart of Kalgoorlie-Boulder and is armed with resources of 584 million tonnes at 0.69 per cent nickel and 0.043 per cent cobalt for 4 million tonnes of contained nickel and 250,000 tonnes of contained cobalt.

Ardea Resources has entered into a binding Cooperation Agreement with a consortium of Japanese companies: Sumitomo Metal Mining Co., Ltd (SMM) and Mitsubishi Corporation (MC).

SMM is a pre-eminent Japanese nickel-cobalt laterite development and production company, operating the Coral Bay and Taganito HPAL nickel operations in the Philippines and the Niihama Nickel Refinery and Harima Refinery in Japan.

MC is one of Japan’s largest and premier general trading and investment companies with decades of experience in investing in the Australian resources sector.

Together with the consortium, Ardea will form a 50:50 incorporated JV to develop the KNP – Goongarrie Hub under the moniker of Kalgoorlie Nickel Pty Ltd (KNPL), which is currently a wholly owned subsidiary of Ardea.

Ardea views the transaction as a successful conclusion of the company’s Strategic Partner process labelling it a major milestone for the development of the KNP – Goongarrie Hub into a globally important nickel-cobalt operation.

“The Ardea team have been focused on aligning the company with the best possible strategic partners to assist in realising the full potential of the Kalgoorlie Nickel Project – Goongarrie Hub,” Ardea Resources managing director and CEO Andrew Penkethman said when announcing the deal.

“Sumitomo Metal Mining and Mitsubishi Corporation are high quality partners that can bring leading expertise to continue to drive the project forward.

“Sumitomo Metal Mining is a leader in developing and operating nickel laterite projects and is fully integrated within both the stainless steel and lithium-ion battery sectors.

“Mitsubishi Corporation has decades of resources sector experience within Australia and has been a significant investor and contributor to the Australian economy.

 

“Ardea acknowledges Japan as a well-respected partner of Australia and looks forward to being part of the growing relationship between the two nations, as they progress their commitment to the global energy transition.

“This is especially relevant with nickel and cobalt classified as Critical Minerals by both nations.”

Under the terms of the transaction, KNPL will manage the DFS process, for which the consortium will stump up 100 per cent of the funding up to a budget of approximately $98.5 million via staged equity contributions over approximately 18 months.

Ardea and the consortium will provide technical and commercial input into the DFS.

At the conclusion of the DFS spend, the consortium will have subscribed to a 35 per cent ownership in KNPL and retain the right to increase its ownership in KNPL to 50 per cent upon a positive FID decision by the consortium.

“Once in production, the Kalgoorlie Nickel Project – Goongarrie Hub is expected to be one of the largest nickel-cobalt producers in Australia,” Penkethman continued.

“The project will meet the high ESG standards expected from modern society and be a leader in responsible resource project development, as demonstrated by Ardea’s 2023 Pre-Feasibility Study.”

 

 

 

 

 

 

Si6 Metals Increases JV Ownership on Future Brazil Acquisitions

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THE BOURSE WHISPERER: Si6 Metals (ASX: Si6) has amended its original Joint Venture terms with its Brazilian Joint Venture partner Foxfire Metals.

Si6 Metals reached an agreement with Foxfire to amend the JV in relation to any future licenses acquired by the JV.

In February this year, Si6 finalised the acquisition of a 50 per cent interest in Foxfire’s Brazilian exploration portfolio.

The portfolio included 10 licenses comprising approx. 17,000 hectares in Brazil.

Under the amended JV any new projects acquired by Si6, its wholly-owned subsidiary Brazilian Ventures, or its wholly-owned subsidiary in Brazil, Brazilian Mining Ventures, will be incorporated into the partnership on the basis that Si6 will hold a 70 per cent and Foxfire 30 per cent JV interest in the acquired project (previously 50% Brazilian Ventures, 50% Foxfire).

Additionally, any expenditure incurred on new projects acquired will be included as part of Si6’s minimum $1 million expenditure commitment in the first 12 months of the JV.

“We are pleased to both improve our JV terms on future projects and strengthen our relationship with Foxfire as we jointly seek to align our shareholders’ interest to achieve the most rewarding outcome for both partners,” Si6 Metals managing director Jim Malone said in the company’s ASX announcement.

“Our joint plan is to grow our presence in Brazil by expanding the current exploration portfolio and capitalising on Foxfire’s expertise and in-country knowledge to identify opportunities that usually require significant time and capital to achieve in Brazil.

“The amended JV terms strengthen our position in Brazil where we are currently exploring for REE at REE-rich Poços de Caldas as well as lithium and REE in the Lithium Valley.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Meteoric Resources Strikes Offtake MoU with Neo Performance Materials

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THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) announced the inking of a non-binding Memorandum of Understanding (MoU) with TSX-listed Neo Performance Materials Inc.

Meteoric Resources struck the MoU for offtake of 3,000 metric tonnes of total rare earth oxide (TREO) per year from the company’s Caldeira project in Minas Gerais, Brazil, to supply Neo’s magnet manufacturing plant.

The MoU provides the framework for the parties to negotiate a binding commercial offtake agreement for the supply of mixed rare earth carbonate (MREC) from the Caldeira project.

Under the terms of the MoU Neo will ultimately be expected to enter into a binding offtake agreement for annual purchases of MREC containing 3,000 million tonnes TREO from Caldeira.

The length of the offtake agreement is expected to extend until Neo has purchased a total of 30,000 million tonnes TREO, with a customary renewal provision for subsequent terms.

“We are very pleased to be bringing this important agreement with Neo to market,” Meteoric Resources CEO Nick Holthouse said in the company’s ASX announcement.

“This represents Meteoric’s first step in our staged offtake strategy, and are delighted to support Neo in their aim to provide high-performance magnetics for automotive, factory automation, high-efficiency motors, residential appliances, and many other industries.

“Connecting and integrating into the developing alternate rare earth materials supply chain signals strong external market confidence in the Caldeira project’s ability to progress to an FID and into production.

“We look forward to working with NEO and having the benefit of their technical support as we continue to pursue and develop our own downstream capabilities and progress to a binding commercial arrangement.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE