Alto Metals Granted New Mining Lease over Lords Corridor

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THE BOURSE WHISPERER: Alto Metals (ASX: AME) has picked up new ground, increasing the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Alto Metals reported receipt of notification from the WA mines department of granting of its new mining lease application (M57/658).

The new granted mining lease is over a mineralised corridor between Alto’s existing mining leases ML57/652 and ML57/651, which cover the Lord Nelson and Lord Henry deposits respectively and is contiguous with ML57/650 to the west, consolidating the Lords Camp, which currently hosts a shallow gold Mineral Resource of 0.4 million ounces at 1.6 grams per tonne gold under granted mining lease.

The company considers securing this new mining lease further de-risks the Sandstone gold project and provides optionality for future mining scenarios.

“We are pleased to announce that our application for a new Mining Lease over the Lords Corridor has been granted,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“Importantly, this further de-risks the Sandstone gold project and complements our strategy to maintain optionality for future development scenarios.

“I would like to thank our in-house team on their work to successfully secure this new mining lease and DMIRS for the support of the Sandstone gold project in granting the new lease.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Cazaly Resources Secures Large Landholding in Emerging Rare Earths District

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THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) has joined the Western Australia rare earths hunt by securing over 1,000 square kilometres of ground within the emerging REE district of the Gascoyne Province.

Cazaly Resources has picked up a total of six tenements, that together form the Lyons project, which the company describe as being, “a very prospective package of ground in the Bangemall Basin”.

Four tenements were targeted and pegged by Cazaly around the Lyons River Fault and Talga Fault, with one of the four tenements now granted.

The remaining two granted tenements along the Lyons River Fault (E09/2671 and E52/4040), consolidate the Lyons project via an exclusive binding option agreement to acquire up to 100 per cent with private company Murchison REE Pty Ltd.

“The Gascoyne is emerging as a hot spot for rare earths and we are excited to have secured such a significant landholding in the region,” Cazaly Resources managing director Tara French said in the company’s ASX announcement.

“Importantly, the new tenements sit along the Lyons River Fault which is considered to be the conduit for mineralised fluids that formed the ferrocarbonatites which are host to the world-class Yangibana and Yin REE deposits.

“The structural complexity around the Lyons River Fault highlights the potential for further discoveries along this structure.

“This package represents an excellent opportunity with only limited historical exploration for lead, zinc, and manganese.

“A reconnaissance field trip has been planned to determine the best exploration methods to apply to this area to advance the project and delineate REE targets early.”

The tenure is in a good neighbourhood with Hastings Technology Metals (ASX: HAS) and Dreadnought Resources (ASX: DRE) REE projects located some 100 kilometres northwest from Cazaly’s tenement package along the Lyons River Fault.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Blackstone Minerals Inks Vietnam REE Menage a Trois

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX has joined a three-way Memorandum of Understanding (MoU) to cooperate on opportunities to develop a fully integrated rare earths mine to metals value chain in Vietnam.

Blackstone has entered the MoU with Vietnam Rare Earths JSC (VTRE) and ASX-listed, Australian Strategic Materials (ASX: ASM).

Blackstone brings its upstream mining and processing experience to the MoU table, with a world class in-country team located within the Northwest Vietnam rare earth district.

VTRE owns and operates the only Vietnamese midstream rare earths refinery and is seeking a strategic partner to develop upstream mining and processing capability.

ASM is an emerging vertically integrated producer of critical metals for advanced and clean technologies with a deep understanding of downstream processing of rare earths and the rare earth market.

Vietnam boasts the world’s largest rare earth element (REE) Reserves outside of China, the majority of which sit in the Northwest Region of the country, close to Son La Province where Blackstone’s Ta Khoa nickel project is located.

It is thought numerous potentially very high-grade REE deposits are available to be permitted and developed by companies that can demonstrate a full value chain capability and deliver a “mine to metal” REE hub in Vietnam.

VTRE is a mover and shaker in Vietnam and has owned and operated the country’s only midstream REE refinery for the past 12 years with the vision to become a prestige producer and supplier of rare earth products and expand the product ranges to deliver multi options for customer needs whilst focussing on researching and using advanced technology for production.

In April 2023, VTRE entered into a binding agreement with ASM for the supply of rare earth oxides with the intention to progress long term supply agreements potentially utilising Vietnam’s natural resources.

“It is not often that you find a potential partnership in which the strategic advantages and core competencies of each party are so complementary,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“For Blackstone, a potential move into Rare Earths in Vietnam aligns with our Technology Mineral strategy and is synergistic to our Ta Khoa project and our existing relationships in the EV industry; for VTRE, teaming up with Blackstone gives VTRE access to our extensive knowledge in ESG management, mining, minerals processing and refining; for ASM, it is a great opportunity to extend their relationship with VTRE and in to progress their vision of full vertical integration in critical minerals.

“With this MoU, Blackstone, VTRE and ASM will progress discussions with the view of potentially establishing a world leading fully integrated rare earths business.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Fenix Resources Finalises Acquisition of Mid-West Iron Ore and Port Assets

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THE BOURSE WHISPERER: Fenix Resources (ASX: FEX) added the strongest string yet to its iron ore bow with the acquisition of Mount Gibson Iron Limited’s Mid-West iron ore, port and rail assets near Geraldton in Western Australia.

The Mid-West assets Fenix has acquired include the Shine iron ore mine, two on-wharf bulk material storage sheds at Geraldton Port, two rail sidings at Ruvidini and Perenjori, and mining assets and obligations at the Extension Hill iron ore mine.

Fenix itemised the benefits the acquisition of the iron ore and port assets provides to be:

• reduce the cost of the company’s existing Iron Ridge production;
• expand production from Iron Ridge;
• re-commission the Shine iron ore mine as a second production asset;
• create a substantial new revenue generating business from the provision of logistics solutions to existing and future Mid-West bulk commodity producers; and
• benefit from the expected growth in bulk commodity production and export in the Mid-West.

“Acquiring Mount Gibson’s Mid-West iron ore and port assets is a game changer,” Fenix Resources chairman John Welborn said in the company’s ASX announcement.

“We are extremely excited about the start of a new chapter for Fenix.

“We are delighted to be continuing the successful legacy of Mount Gibson in the Mid-West and to have their support as a large shareholder.

“This transformational event for Fenix will drive material economies of scale, provide flexibility to expand iron ore production and operate new projects concurrently.

“In expanding a mine-to-port logistics solution for ourselves and other producers in the Mid-West, we also create employment opportunities which will strongly support regional economic growth and create exceptional shareholder value.”

 

 

Metal Hawk Raises $1.2m to Advance Lithium-Nickel-REE Projects

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THE BOURSE WHISPERER: Metal Hawk (ASX: MHK) received firm commitments from sophisticated investors to raise $1.2 million.

Metal Hawk indicated the proceeds will be put towards exploration activities at the company’s Yarmany and Fraser South projects in Western Australia.

Metal Hawk recently acquired the Yarmany nickel and lithium project, north-west of Coolgardie in WA’s Eastern Goldfields where limited historical drilling has confirmed a favourable geological setting with potential for komatiite-hosted nickel sulphides and pegmatite-hosted lithium mineralisation.

The company also bought out IGO’s 51 per cent JV interest at the Fraser South project where it has completed a maiden drilling program that identified clay-hosted rare earth element (REE) mineralisation.

“We look forward to an exciting period for the company with lithium and nickel exploration ramping up at Yarmany and the next phase of drilling at Fraser South due to commence shortly,” Metal Hawk managing director Will Belbin said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Hammer Metals to Re-Acquire Mt Dorothy Copper REE Project

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THE BOURSE WHISPERER: Hammer Metals (ASX: HMX) is to earn an 80 per cent interest in the Mount Dorothy and Cobalt Ridge projects, two copper and critical elements projects located in the Mount Isa inlier region of Northwest Queensland.

Hammer Metals announced it has entered into a binding term sheet with Element Minerals Australia, a subsidiary of Global Energy Metals Corporation (GEMC), to complete the deal.

The deal has a sniff of Deja-vu for Hammer, which had originally sold the prospects to GEMC in 2019 as part of its divestment of the Millenium cobalt project.

Hammer’s rethink came via its copper-rare earth discovery at the nearby Hardway prospect, and the exploration results from Mount Dorothy by China Yunnan Copper Australia Ltd in 2011 that it considers to suggest similarities in the mineralogy of the Hardway and Mount Dorothy mineral systems.

“Hammer is pleased to have reached agreement with Global Energy Metals to re-take majority ownership of these tenements,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.

“We believe the prospects deserve further exploration and will complement Hammer’s already impressive project inventory in the world-class Mt Isa district.

“We are confident in the opportunity that the Mount Isa region presents for minerals that are critical for Australia’s future and we are determined that Hammer will play a leading role in this region in helping to secure the raw materials needed for batteries and new energy technologies through projects like Mt Dorothy and Cobalt Ridge.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

VRX Silica Receives Arrowsmith North Environmental Approvals

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THE BOURSE WHISPERER: VRX Silica (ASX: VRX) has had the Environmental Review Document (ERD) for the company’s Arrowsmith North silica sand project in Western Australia accepted by the Department of Water and Environmental Regulation (DWER) for publication.

The document will now be subject to a four-week Public Environmental Review (PER), commencing on 19 June 2023 that includes a requirement for VRX to respond to all comments received.

The company explained this PER and response process is the final step before the Environmental Protection Authority of Western Australia (EPA) prepares an assessment report including recommendations to the WA Environment Minister on whether the proposal should be approved.

“We are delighted that the environmental approvals process has moved to this next important stage,” VRX Silica managing director Bruce Maluish said in the company’s ASX announcement.

“This is a significant milestone for the process.

“VRX has proposed a unique method for rehabilitation of the mined area that provides for the best possible outcome for regeneration of native vegetation.

“The ERD seeks approval for 30 years of mining.

“The development area has the potential to underpin a project lasting up to 60 years (subject to further approvals), underscoring the enormous economic contribution that could flow to the Irwin Shire in particular and Western Australia more broadly.

“VRX has engaged fully and openly with regulators at every stage of the approvals process and appreciates the thoroughness of the process.

“We also thank shareholders for their patience as we have worked on securing the key approvals for Arrowsmith North.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Cazaly Resources to Acquire Canadian Lithium Project

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THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) emerged from a Trading Halt to announce the acquisition of up to 100 per cent of the Sundown lithium project in Canada.

The Sundown project is in the James Bay lithium province, host to several advanced lithium projects and new lithium discoveries in Canada and comprises 510 mining claims covering pegmatite outcrops spanning over 260 square kilometres.

The project is located between Allkem’s (ASX: AKE) James Bay deposit with a lithium reserve of 37.2 million tonnes at 1.3 per cent lithium oxide (Li2O), and Patriot Battery Metals (ASX: PMT) Corvette lithium discovery, which is host to 70 lithium bearing pegmatites over a 214sqkm land package.

“We are extremely pleased to have an exclusive binding agreement to acquire the Sundown lithium project,” Cazaly Resources managing director Tara French said in the company’s ASX announcement.

“The project is an excellent addition to our recent Canadian rare earth elements project acquisition, and provides Cazaly with another excellent discovery opportunity, this time for lithium, another critical mineral.

“The project is a massive landholding in the heart of the James Bay lithium district, a district known for its very large scale and high-grade lithium resources.

“Data acquisition and compilation has commenced, and desktop studies are underway as part of our due diligence process, which will in turn advance the project and inform our exploration work plan moving forward.”

Cazaly explained that upon completion of due diligence, including a full assessment of all available data and the decision to complete the acquisition, an initial field reconnaissance mapping and rock chip sampling program will be completed to assess the large number of documented outcropping pegmatites for spodumene and lithium mineralisation.

This will in turn inform the company’s exploration strategy to drill test the best targets in the next phase of exploration.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Adavale Resources Granted Tanzanian Nickel Sulphide Licence

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THE BOURSE WHISPERER: Adavale Resources (ASX: ADD) has been granted Prospecting Licence (PL) PL12350/2023 covering an area of 3.74 square kilometres in Tanzania.

Adavale applied for the PL, known as Luhuma Central, via its wholly-owned subsidiary Adavale Resources Tanzania Limited having identified it as a geologically important addition to its exploration tenure, due to its historical results and being within the broader 15km Luhuma trend previously discovered by Adavale.

Adavale explained Luhuma Central is fully enclosed within PL 11692/2021, of which the company has, to date, earned a majority interest of 65 per cent with rights to earn up to 100 per cent.

“Adavale has from the outset applied for its licences on geological merit rather than nearology alone,” Adavale Resources chairman Grant Pierce said in the company’s ASX announcement.

“The company recognised Luhuma Central as a coveted area, being within favourable lithologies and with demonstrable nickel sulphide mineralisation.

“It will play a key role in our broader exploration success.

“The granting of Luhuma Central is opportune timing as Adavale has recently recommenced drilling, being an approx. 5,000 metres program and Luhuma Central will definitely feature in this program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Encounter Resources Raises $10M to Accelerate West Arunta Exploration

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THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) has bolstered its coffers after receiving firm commitments for a placement to raise $10 million at 25 cents per share.

Encounter Resources said the raising demonstrated a strong endorsement of the current exploration programs underway at the company’s 100 per cent-owned Aileron IOCG and Critical Minerals project in the West Arunta region of Western Australia.

The company indicated the funds will primarily be put towards an accelerated exploration program at the Aileron that will entail geochemistry covering new gravity targets, geophysics as well as RC and diamond drilling.

Elsewhere copper, REE and lithium exploration will be undertaken at Encounter’s projects in the Northern Territory and Western Australia.

“The limited exploration to date in the West Arunta has shown that the region is highly prospective for the formation of IOCG and carbonatite-hosted critical mineral deposits under shallow cover,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“This funding will allow us to accelerate activities across the West Arunta which has the hallmarks of a new copper and critical minerals province in Australia.”