Kin Mining Approved to Commence LGP Plant Construction

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THE BOURSE WHISPERER: Kin Mining (ASX: KIN) has secured all statutory approvals documentation for Phase 1 – Process Plant Construction to commence at the company’s 100 per cent-owned Leonora gold project (LGP) located in the North-Eastern goldfields of Western Australia.

Kin Mining said the regulatory sign off marks another important step towards gold production, forecast for the second half of 2018.

A Mining Proposal has been approved by the Department of Mines, Industry Regulation and Safety (DMIRS) and a Works Approval has been approved by the Department of Water and Environmental Regulation (DWER).

Kin reached an agreement with the regulators to conduct a phased approval process, which has resulted in the construction of the processing plant commencing earlier than would have been possible if it had to wait for final project mining parameters.

The company will lodge Phase 2 applications in this half of the year for the balance of activities required to commence gold production.

Kin Mining also confirmed all proposed mining operations and infrastructure locations relating to the construction, commissioning and gold production of the LGP are located on granted mining leases and granted miscellaneous licenses.

“Phase 1 Approval is a major milestone achievement by the Kin team,” Kin Mining managing director Don Harper said in the company’s announcement to the Australian Securities Exchange.

“Our focus is now on dismantling and relocating the Lawlers process plant and commencing construction of the LGP process plant.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

Millennium Minerals Identifies Cost Cuts to Extend Nullagine Minelife

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THE BOURSE WHISPERER: Millennium Minerals (ASX: MOY) announced the appointment of Australia-based consulting engineering firm Ausenco to complete a Feasibility Study on an alternate processing option for the company’s 100 per cent-owned Nullagine gold project in Western Australia.

Millennium Minerals explained the alternate processing option had been identified as part of a Sulphide Ore Expansion Study at the project.

The company has identified an alternative processing configuration, which it believes could result in a reduction in both capital and operating costs compared to the integrated CIL and flotation circuit that had previously been touted.

The alternative process could also deliver several strategic benefits to Millennium’s expansion plans at Nullagine.

The basis of the new process method is scavenging un-leached sulphide concentrates from the existing CIL tailings and subjecting them to ultra-fine grinding and intense cyanidation to achieve an improvement in the overall leach recovery.

“The Sulphide Ore Expansion Study, which underpins our corporate objective of becoming a 100,000 ounces-a-year producer by unlocking the existing large sulphide Mineral Resource inventory at Nullagine, is now in its final and most important stages,” Millennium Minerals chief executive Peter Cash said in the company’s announcement to the Australian Securities Exchange.

“The identification of this new processing option could transform the economics of the expansion project, dramatically reducing both capital and operating costs and resulting in a major reassessment of our reserve inventory.

“We still have further work to do to confirm that this is the case, but the early indications are extremely positive.

“The imminent completion of the Expansion Study dovetails with our move underground at Nullagine, with development of our first underground mine at Bartons set to begin by the end of this quarter.

“It also comes at a time when our exploration team is continuing to enjoy success with deeper drilling identifying the potential to significantly grow the Mineral Resource base below and along strike of the existing open pits.”

 

Email: info@mmltd.com.au

Website: www.millenniumminerals.com.au

IPO Watch

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IPO WATCH: IPOs in the resources sector have been benefiting from renewed interest in the space. The Roadhouse looks at one recent listing and a prospective lister.

 

BlackEarth Minerals (ASX: BEM)

BlackEarth Minerals listed on 19 January 2018 expressing its focused on the exploration and development of the company’s 100 per cent-owned Madagascan and Western Australian graphite projects.

BlackEarth Minerals’ Madagascan projects consist of two primary exploration areas: the main Maniry project, and the Ianapera project.

Maniry is considered highly prospective for largescale, high-quality graphite deposits and is currently at an advanced evaluation stage pending additional work to establish an initial resource, which is currently expected to be completed by mid-2018.

Results, from samples taken within 50 metres of surface, have been received and include 10m at 10.2 per cent total graphitic carbon (TGC), 12m at 11.6 per cent TGC and 14m at 11.3 per cent TGC.

Ianapera consists of a series of high-grade outcrops, up to 800m long and 30m wide, of graphite mineralisation within a broader graphite trend.

These high-grade (15%+ TGC), near-surface exposures of graphite mineralisation lie over the top of a large conductive body, which BlackEarth believes indicates the potential presence of a large graphitic mineralised system.

The company’s Western Australian graphite assets include project areas that have been partially explored by a number of companies in the past, with encouraging results reported from several locations.

BlackEarth researched graphite data via the historical Western Australian Mineral Exploration (WAMEX) database, which has already led to the identification of targets which will be the focus of initial exploration activities.

www.blackearthminerals.com.au

 

Saturn Metals

Saturn Metals is a wholly-owned subsidiary spin out of Peel Mining (ASX: PEX).

Peel Mining has sold off its 100 per cent-interest in the Apollo Hill gold project in Western Australia to Saturn, which is currently in the process of listing on the ASX by way of an initial public offering.

Saturn Metals has issued a prospectus to raise up to $7 million to progress its exploration activities at the Apollo Hill project.

The company has declared the purpose of the offer is to provide funds to immediately commence exploration on the Apollo Hill and Ra Resource areas.

It will also conduct further exploration activities within those areas to identify and grow new higher-grade gold lode/vein exploration targets and commence a cost-effective exploration program across the tenement package seeking to identify a large new Archaean Lode gold deposit.

www.saturnmetals.com.au

Corazon Mining Ready to Recommence Fraser Lake Complex Drilling

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is preparing to kick off the next phase of drilling at the Fraser Lake Complex (FLC), located just five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt Mining Centre in Canada.

Corazon Mining advised that preparation for drilling at the FLC is nearing completion and that drilling is expected to begin the week commencing Monday, 12 February.

Access tracks and drill pads have been completed in preparation for drilling, and the drill rig is on site with personnel currently being mobilised.

Corazon has systematically explored the FLC since December 2016, carrying out a range of activities, including drilling, ground geophysics, downhole geophysics and geochemistry.

“The large amount of data generated from this targeted exploration has produced geophysical and geochemical models supporting the company’s view that the FLC has the potential to host significant nickel-copper-cobalt sulphide deposits,” Corazon Mining said in its ASX announcement.

The company has confirmed a number of priority drill targets from its 2017 fieldwork programs with the initial drill target being a deeply rooted, funnel-shaped, strongly magnetic feature, with similar characteristics to the nearby EL Mine deposit (a high-grade sulphide breccia pipe within the nearby historic Mining Centre).

Corazon has completed a capital raising Placement, funds from which will fully fund the company’s next phase of exploration at its two flagship projects, the Cobalt Ridge deposit within the Mt Gilmore cobalt-copper-gold project in New South Wales and the Fraser Lake Complex within the Lynn Lake nickel-copper-cobalt project in Canada.

 

Email: info@corazon.com.au

Website: www.corazon.com.au

Havilah Resources strikes MoU with Cobalt Blue to Test Mutooroo Ore

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THE BOURSE WHISPERER: Havilah Resources (ASX: HAV) and Cobalt Blue Holdings (ASX : COB) have struck a Memorandum of Understanding (MoU).

Havilah Resources explained the MoU covers a joint investigation of the applicability of Cobalt Blue’s proprietary process for the recovery of cobalt from pyrite ores.

Havilah will provide Cobalt Blue a representative 10 kilogram Mutooroo sulphide ore sample, on which COB will perform laboratory test-work using its proprietary technology including crushing, grinding, flotation, calcining and leaching.

Havilah anticipates results by 30 April 2018.

“COB’s positive metallurgical work to date has identified a potential processing path that is demonstrating strong cobalt recoveries, for its pyrite hosted cobalt at Thackaringa,” Cobalt Blue said in its ASX announcement.

“Based on ASX releases and discussions between technical staff, the parties believe HAV may have similar metallurgical requirements to commercialise cobalt from Mutooroo.

“The key question is whether the COB process has the potential to unlock economic value for Mutooroo.”

Havilah Resources CEO Walter Richards told the market that, “Given we are neighbours and face similar metallurgical challenges in the recovery of cobalt from cobaltian pyrite ores, this agreement presents a mutually beneficial opportunity for us to work with COB at this time.”

“We have been impressed by COB’s rigorous scientific approach towards the recovery of cobalt from its Thackaringa pyrite ores, and feel that we can gain much from their experience and expertise,” he continued.

“Because of the large total resources of cobaltian pyrite, with appreciable gold, that we have, not only at Mutooroo, but also at our Kalkaroo and North Portia copper-gold deposits the outcome of this work has important economic implications for Havilah.

“If COB’s processes enable the recovery of cobalt, it will be a major step forward in enhancing the economic returns from all of our projects, and could well lead to ongoing cooperation with COB.”

 

Email: info@havilah-resources.com.au

Website: www.havilah-resources.com.au

Stavely Minerals Raises $8.3M to Advance Exploration

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THE BOURSE WHISPERER: Stavely Minerals (ASX: SVY) completed a capital raising of up to $8.3 million to be spent on fast-tracking exploration of the company’s gold and porphyry copper-gold projects in western Victoria and Queensland.

Stavely Minerals explained the capital raising was underpinned by a Share Placement of 20 million shares at 34 cents per share to sophisticated and institutional investors to raise $6.8 million before costs.

Stavely has not left its existing shareholders out of the fun and is undertaking a Share Purchase Plan (SPP), also at 34 cents, to raise up to a further $1.5 million.

The company indicated the funds raised through the combined Share Placement and SPP will primarily be used to accelerate drilling programs in western Victoria testing a suite of porphyry copper-gold targets, including advanced exploration at the Thursday’s Gossan prospect where recent deep diamond drilling has delivered results indicating proximity to a potentially large-scale copper-gold porphyry.

Follow-up exploration programs are also planned this year on the company’s Queensland projects targeting epithermal and intrusive-related gold mineralisation.

“Over the past 18 months we have been systematically narrowing in on a potential copper-gold porphyry discovery at the Thursday’s Gossan prospect and we are now well funded into the next phase of exploration drilling at this very exciting prospect,” Stavely Minerals managing director Chris Cairns said in the company’s announcement to the Australian Securities Exchange.

“And, with a recent Earn-in and Joint Venture Agreement in-place with Navarre Minerals, Stavely Minerals has further augmented a dominant tenure position in an under-explored alkalic copper-gold porphyry belt.

“With drill testing also about to commence at the exciting Toora West porphyry target, we have the opportunity to highlight multiple discovery opportunities within the belt – and therefore to realise greater value for shareholders by emphasising that Stavely Minerals could have its foot on an entire porphyry belt rather than just one very exciting prospect.

“This is a key attribute that can enhance Stavely’s attractiveness to the larger gold and resources companies.”

 

Email: info@stavely.com.au

Website: www.stavely.com.au

Cassini Resources Inks Option to Acquire WA Nickel-copper-Cobalt Project

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THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced it has secured an option to acquire the Yarawindah Brook nickel-copper-cobalt project in Western Australia.

Cassini Resources explained that with its West Musgrave Joint Venture partner OZ Minerals (ASX: OZL) proceeding to Stage 2 of the project earn-in, the company is keen to recommence activities at its other, 100 per cent-owned exploration projects.

“Cassini is actively identifying and reviewing new exploration and development opportunities to complement its existing portfolio,” Cassini Resources said in its ASX announcement.

“As part of this process, Cassini has entered an option agreement to earn into the Yarawindah Brook project through private company Souwest Metals Pty Ltd, a company associated with Kalgoorlie prospector Mr Scott Wilson.”

Yarawindah Brook is located 130 kilometres northeast of Perth, in agricultural land near the township of New Norcia.

The project has only been subjected to limited nickel, copper and cobalt exploration despite having a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper.

Historic exploration focussed primarily on a small platinum and palladium (PGEs) resource, which Cassini considers to be a, “path-finder” anomaly for massive nickel – copper – cobalt sulphides.

The most recent drilling, undertaken in 2007, targeted surface EM anomalies and returned encouraging results from hole YWRC0083 including:

7 metres at 1.3 per cent nickel, 0.22 per cent copper, 0.06 per cent cobalt and 432ppb lead from 74m.

Cassini indicated that no further follow-up drilling was conducted due to budget limitations of the previous operator during the exploration downturn post-GFC.

“Cassini views the project as an excellent opportunity to apply its geological expertise and learnings in nickel-copper systems from the West Musgrave project to an apparently similar mineralised system with only limited modern exploration,” the company added.

“Further, the project is conveniently located adjacent to roads and power, providing development advantages if exploration proves successful.

“The project provides Cassini with further exposure to nickel, copper and cobalt, three critical components of advanced technology and a decarbonised future.”

 

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

Alliance Resources Increases Wilcherry Hil JV Stake

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THE BOURSE WHISPERER: Alliance Resources (ASX: AGS), through its wholly-owned subsidiary Alliance Craton Explorer Pty Ltd (ACE), has increased its interest in the Wilcherry project Joint Venture (WPJV) in South Australia.

Through the ACE transaction, Alliance’s interest in the Exploration Area now stands at 67.35 per cent.

Trafford Resources Pty Ltd, a wholly owned subsidiary of Tyranna Resources (ASX: TYX) has diluted its interest in the WPJV Exploration Area to 32.65 per cent.

Alliance previously announced that Trafford had elected not to contribute to the WPJV approved Programme and Budget for the period 1 July 2017 to 30 June 2018.

“The current change in interests is a result of ACE sole funding expenditure for the quarter ended 31 December 2017,” Alliance Resources explained in its AXS announcement.

“ACE’s interest in the WPJV Exploration Area is expected to increase to 77.5 per cent by 30 June 2018, from sole funding the FY2018 P&B expenditure.

“Further RC drilling is planned at Weednanna in the second half of February to test the limits of the high-grade gold zone at Target 4 and to test a new gold target area using the geological model and knowledge gained to date.”

 

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

Alloy Resources Takes Back Control at Horse Well JV

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THE BOURSE WHISPERER: Alloy Resources (ASX: AYR) struck a deal with its Joint Venture partner, Doray Minerals (ASX: DRM) over the Horse Well gold project Joint Venture in Western Australia.

Alloy Resources explained that under the deal, it will regain a majority interest and assume management control of exploration at the Horse Well Gold JV, which is located in the north eastern goldfields adjacent to Northern Star’s Jundee Gold Mine.

“We believe the project is one of the best early stage gold exploration properties in the Goldfields with a shallow high-grade Inferred Mineral Resource of 75,000 ounces at 2.76 grams per tonne gold and numerous prospects at various stages of exploration,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“Added to this is the project’s excellent location adjacent to new discoveries and growing mining centres at Jundee and Bronzewing.

“We believe the value creation opportunity through continued exploration at Horse Well is compelling.

“The company will now complete the handover and then prioritise exploration activities.

“We have advanced drill targets ready to go at Dusk til Dawn and Warmblood, and also air core drill anomalies up to seven kilometres long which are also ready for infill drilling.

“Perhaps the most intriguing target is the Celia Shear extensions to Overland Resources new high-grade surface quartz vein discovery at Coralie Jean which has only emerged in the last quarter.

“All in all it is a great time to be exploring for gold in Australia and we look forward to delivering lots of activity and exploration success.”

 

 

Email: info@alloyres.com

Website: www.alloyres.com

Argent Minerals Acquires Tasmanian Double

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THE BOURSE WHISPERER: Argent Minerals (ASX: ARD) announced two project acquisitions in the Mount Read Volcanics belt of Western Tasmania.

Argent Minerals has been granted the Ringville and Queensberry tenements by the Tasmanian Government having competed in a merit-based assessment processes, during which the company’s proposed exploration plans and capabilities were evaluated in separate competitive bidding environments.

Argent claimed the Ringville tenement (EL12/2017 ) position as being strategically situated between two world class mines.

It sits 300 metres west of Mine Lease 28M/1993 containing the Rosebery high-grade polymetallic mine owned by MMG, and immediately to the east of (and partially overlain by) Mine Lease 12M/1995 containing the Renison Bell Tin Mine.

“The tenement contains 52 recorded mineral occurrences, including three deposits to which pre-JORC historical mineralisation estimates have been attributed, featuring tin, copper, zinc, lead and silver,” Argent Minerals said in its ASX announcement.

“The geology in the area comprises Early Cambrian to Devonian elements with identified potential for mineral deposits similar to Mt Read polymetallic volcanic-hosted massive sulphide (VHMS), Renison intrusion related skarn tin and vein lode, and Avebury nickel sulphide.”

The Queensberry tenement (EL9/2016) is located 11km northwest of the Mount Lyell copper mine, which Argent described as Australia’s oldest continually operating mining field, having produced more than 1.8 million tonnes of copper, two million ounces of gold, and 41 million ounces of silver over approximately 120 years

“The 82 square kilometre Queensberry tenement area is heavily populated with old mine workings and 10 recorded mineral occurrences,” Argent said.

“Four of these comprise the historic Queensberry Mine, which according to government records, achieved grades of up to 40 to 56 per cent lead, and 6 to7 ounces per tonne silver

“The Queensberry tenement position covers highly prospective parts of a Tyndall Group correlate, host to the Henty-Mt Julia gold deposit, and the White Spur Formation directly overlying the Rosebery-Hercules VHMS deposits.”

 

Website: www.argentminerals.com.au