Sayona Mining Signs Chinese Mou

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THE BOURSE WHISPERER: Sayona Mining (ASX: SYA) has signed a non-binding Memorandum of Understanding (MoU) with leading China based battery manufacturer, Huan Changyuan Lico Co Ltd.

Changyuan, a subsidiary of the Fortune 500 Company, China Minmetals Group, is a battery research, development, and production company.

According to Sayona Mining Changyuan produced more than 16,000 tonnes of battery cathode materials in 2016 and is expanding its production capacity to 36,000 tonnes in 2018.

The main products produced by Changyuan include, lithium cobalt oxide and lithium manganese oxide batteries, and ternary composite lithium-ion cathode materials.

Sayona declared the MoU provides and avenue for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the company’s Authier project located in Quebec, Canada.

These include:

Changyuan purchasing up to 100,000 tonnes of spodumene concentrate per annum;

Development partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada; and

Funding and investment opportunities for Sayona and the Authier project.

“The company has been exploring a number of options on how it best realises value from the Authier project,” Sayona Mining chief executive officer Corey Nolan said in the company’s announcement to the Australian Securities Exchange.

“The alliance with Changyuan represents a timely, exciting path forward as the company moves towards completing its Definitive Feasibility and meeting its objective of producing first concentrates in 2019/2020, and capitalising on the projected high price environment for spodumene concentrates.”

Email: info@sayonamining.com.au

Website: www.sayonamining.com.au

Blackstone Minerals Quadruples Little Gem Target Zone

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) announced the acquisition of extensive land holdings along strike from the company’s high-grade Little Gem cobalt-gold project in Canada.

Blackstone Minerals said the acquisition provides the company with a land position over a mineralised belt proven to host very high-grade gold and cobalt.

By doing so, Blackstone has increased its target strike zone from 12 kilometres to over 48 kilometres of strike, taking the Little Gem project tenure to now cover some 335 square kilometres.

Blackstone made the purchase following its first phase of exploration at Little Gem, where the company previously announced confirmation of high-grade cobalt (up to 6.2 per cent) and gold (up to 137 grams per tonne) mineralisation it says is associated with the contact between serpentinized ultramafics and granodiorites.

The company claims this style of mineralisation to be analogous to the world class Bou-Azzer District of Morocco, which has produced over 100,000 tonnes of cobalt metal and tens of tons of gold.

Recent rock chip sample from historical adits at Little Gem returned 6.2 per cent cobalt and 46g/t gold.

Surface channel samples of massive sulphides returned assays up to 0.4m at 5.7 per cent cobalt  and 1,574g/t (≈50 oz) gold and 1.8m at 5.1 per cent cobalt  and 17.8g/t gold.

Underground adit channel sampling of massive sulphides returned multiple high-grade intersections including 1.8m at 4.4 per cent cobalt and 73g/t gold and 2m at 3.1 per cent cobalt and 76g/t gold.

Blackstone has also claimed discovery of a new prospect – Roxey, located 1.5km along strike from Little Gem hosting surface mineralisation of up to 24g/t gold and 1.9 per cent copper.

“Having only recently secured the acquisition, the company is delighted to have been able to substantially grow Little Gem, into a project with real scale, particularly in a district which hosts such compelling high-grade cobalt and gold mineralisation,” Blackstone Minerals managing director Hamish Halliday said in the company’s announcement to the Australian Securities Exchange.

“Blackstone looks forward to an aggressive exploration campaign over the coming year.”

Email: admin@blackstoneminerals.com.au

Website: www.blackstoneminerals.com.au

Calidus Inks Novo JV and Exercises Haoma Option

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THE BOURSE WHISPERER: Calidus Resources (ASX: CAI) has been busy across a couple of fronts, completing due diligence on the Novo Tenements and exercising an option to acquire the Haoma tenements.

Having completed due diligence on the Novo tenements, Calidus Resources has notified TSX.V-listed Novo Resources Corp. of its intentions to proceed with the transaction.

Calidus said its initial review of the tenements had highlighted multiple soil anomalies both along the main Klondyke trend and in alternate geological settings that it will investigate.

The company is commencing heritage surveys with the traditional owners to facilitate drilling on the Novo tenements this calendar year.

As per the deal Calidus will issue 20 million shares to Novo as consideration for an earn-in righ.

Calidus may earn a 70 per cent interest in the Novo tenements by expending $2 million over the next 3 years.

In other news, recent drilling results recorded on Haoma Mining’s (ASX: HAO) Warrawoona and Klondyke leases has led to Calidus exercising its option to acquire these tenements, ensuring 100 per cent ownership of what it considers to be a, “rapidly developing gold development project”.

Calidus explained the Haoma deal provides 100 per cent-ownership of the Klondyke trend and with the Novo JV, provides majority ownership of the entire Warrawoona greenstone belt.

The company will issue of 37.5 million shares and $500,000 cash to Haoma as consideration.

“Based on the outstanding results we have received so far in our maiden drill campaign, the consistency and grade of mineralisation we are defining and the large exploration upside we are seeing in the district, we have decided to proceed both with the Novo JV and to execute the right to purchase the Haoma tenements,” Calidus Resources managing director Dave Reeves said in ithe company’s announcement to the Australian Securities Exchange.

“This ensures that Calidus has full ownership over the main Klondyke shear and controls all exploration activities over the entire Warrawoona Greenstone Belt.

‘We have commenced heritage surveys over the planned drill areas on the Novo ground with the traditional owners and look forward to reporting further drill results in the very near term from the recently completed drilling that targeted the high-grade Copenhagen and Fieldings Gully deposits that are also located on tenements we have purchased today under the Haoma option.”

 

Email: info@calidus.com.au

 

Website: www.calidus.com.au

Sheffield Resources Seals Second Thunderbird Off-take Deal

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) has secured a second binding offtake agreement for the future sale of premium zircon from the company’s Thunderbird mineral sands project, in Western Australia.

Sheffield Resources signed the deal with India’s largest ceramic raw materials supplier, Sukaso Ceracolors Ceramics Pvt Ltd.

The agreement is based on a minimum annual supply of 12,000 tonnes of premium zircon.

Sheffield said this represents approximately 24 per cent of the estimated total volume of premium zircon to be produced from Stage 1 of Thunderbird.

Total offtake under binding agreement for Thunderbird premium zircon now stands at approximately 36 per cent of forecast Stage 1 production.

“We welcome the relationship with Sukaso and this agreement continues to demonstrate the high quality premium zircon product to be generated from the Thunderbird project over the 42 year life of mine,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“With reference to the earlier signed memorandum of understanding which was signed in April 2017, Sukaso requested additional volume from Thunderbird over the contract period.

“We were able to accommodate this, and we are highly encouraged by Sukaso’s commitment to the project.

“With more than one third of our premium zircon for Stage 1 of Thunderbird now under binding agreement, over the coming months we will continue to deliver on our offtake and funding objectives which we commenced in 2017.”

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

Sandfire Resources Gets Go Ahead for Montana Copper Project

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THE BOURSE WHISPERER: Sandfire Resources (ASX: SFR) announced its TSX-listed, 78 per cent-owned North American subsidiary, Tintina Resources has received a draft operating permit for the Black Butte copper project in central Montana, USA.

Sandfire Resources said the draft operating permit, which has been received from the Montana Department of Environmental Quality (MT DEQ) Hard Rock Mining Bureau, formally concludes the “Completeness & Compliance” review and marks the commencement of the Environmental Impact Statement (EIS), the final stage of permitting.

Sandfire consider the Black Butte project to be one of the world’s premier high-grade undeveloped copper projects, and as such is a key part of the company’s longer-term strategic growth pipeline.

In addition to the draft operating permit, the Montana Public Service Commission has approved an agreement between Fergus Electric Cooperative and NorthWestern Energy to provide power to the Black Butte copper project.

“We are very pleased to have achieved this milestone, which marks the culmination of a vast amount of work and effort by the Tintina team,” Sandfire Resources managing director and CEO, Karl Simich said in the company’s announcement to the Australian Securities Exchange.

“This reflects our commitment to steadily work through all of the required permitting processes to ensure that this is a world-class, state-of-the-art underground mine development that sets the highest standards in terms of environmental management.

“We are looking forward to the start of the EIS process, during which we will continue to engage with the community to demonstrate our commitment to environmental stewardship, which remains at the heart of everything we do.

“The studies we have completed show clearly that this project can operate in a way that protects the environment, while at the same time providing significant economic opportunities.

“In this regard, I am pleased to note the receipt of approval from the Montana Public Service Commission for a power supply agreement that will see important power transmission infrastructure constructed in the region.

“This is a good example of the sort of positive local economic contribution which this project can make, with the new power transmission line representing a significant infrastructure upgrade to the community of White Sulphur Springs.”

Email: admin@sandfire.com.au

Website: www.sandfire.com.au

Calidus Resources Strikes JV with Novo Resources on WA Tenements

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THE BOURSE WHISPERER: Calidus Resources (ASX: CAI) announced a deal to form a Joint Venture with TSX-listed Novo Resources.

Under the deal Calidus will have the right to acquire a 70 per cent interest in Exploration Licences 45/3381, 45/4194, 45/4622, 45/4666 and Prospecting Licences 45/2661, 45/2662, 45/2781 and all related technical information held by Novo.

The tenements surround Calidus’ Warrawoona gold project and include direct extensions to the Klondyke Shear in the East Pilbara region of Western Australia.

The deal will enable Calidus to expand its Pilbara footprint with associated anomalies including a five-kilometre extension of the Klondyke trend to the south east of Calidus’ current Klondyke East tenement holding where limited drilling by Conzinc Riotinto in 1996 returned encouraging gold intercepts including:

RC96WA06
10 metres at 1.7 grams per tonne gold from 56m;

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2m at 5.58g/t gold from 31m; and

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4m at 4.35g/t gold from 141m.

Calidus indicated a parallel 5km long soil‐rock gold anomaly, known as Horrigans, located 800m to the north of Klondyke East and located on the Novo tenements has never been drill tested.

The company said it had highlighted numerous other exploration prospects following an initial evaluation of the data, ranging from elevated soil gold-arsenic values coincident with inferred structures to isolated rock values up to 66g/t gold.

“With the execution of this agreement we now control the vast majority of this highly prospective greenstone belt,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“With drilled mineralisation extending four kilometres directly to the east of the current resource, highly prospective drill intercepts in satellite areas and substantial undrilled soil anomalies, the area provides significant upside to the Warrawoona project.

“Such a transaction benefits both parties by providing critical mass in one area thereby enhancing the potential for development of a standalone operation in the area.”

Website: www.calidus.com.au

Neometals Lodges Provisional Lithium Titanate Patent

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THE BOURSE WHISPERER: Neometals (ASX: NMT) announced the lodgement of an Australian provisional patent application associated with the company’s technology to produce lithium titanate oxide for use in lithium-ion batteries.

Neometals explained the company has a dedicated subsidiary, Neomaterials Pty Ltd, to hold its interest in the intellectual property and patent applications for this advanced battery material process.

Neomentals said the Freedom to Operate (FTO) search and opinion was exhaustive with more than 440 published patents reviewed.

The company claimed its test work results indicate performance of the material in the larger scale pouch-cell to be superior to the commercially available lithium titanate, and re-confirmed in multiple coin-cell tests.

All tests had NCM cathode and LTO anode.

Neometals is now undertaking optimisation testwork at the CSIRO to accelerate the commercialisation of this advanced battery material technology.

The company expects the program to be completed by the end of the December quarter and to be producing product for evaluation by battery producers.

“The lodgement of this patent application is consistent with Neometals’ IP strategy to protect its competitive advantage once the commercial viability emerges,” Neometals managing director Chris Reed said in the company’s announcement to the Australian Securities Exchange.

“Our goal is to justify the addition of a LTO circuit to the Lithium Hydroxide project to further multiply the value of our lithium units.”

Email: info@neometals.com.au

Website: www.neometals.com.au

Pioneer Resources Cashed Up to Advance Pioneer Dome Project

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THE BOURSE WHISPERER: Pioneer Resources (ASX: PIO) announced the completion of a $1.3 million share placement to institutional and sophisticated investors.

Pioneer Resources said the placement received commitments from institutional and sophisticated investors for approximately 92.8 million shares at an issue price of 1.4 cents per share.

The company said the raising resulted in multiple new institutional resource funds signing on to its share register.

Pioneer indicated it would be offering eligible shareholders the opportunity to acquire shares at the same issue price as the placement under a Share Purchase Plan (SPP).

“We are delighted with the response from investors to the company’s recent share placement, which we see as strong validation for development of the Sinclair Caesium Zone and our ongoing targeted exploration programs,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“In particular, we are very pleased to welcome multiple new institutional resource funds to our register.

“We are now pleased to offer the SPP to existing eligible shareholders on the same terms as the placement, providing the opportunity to increase shareholdings in the company as it enters a very exciting and active development and exploration phase.”

Website: www.pioresources.com.au

Lithium Australia Joins Forces with Poseidon Nickel

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced, what the company described as, “a strategic move” with Poseidon Nickel (ASX: POS).

Lithium Australia said the two companies will jointly evaluate the known lithium potential of the Lake Johnston region in southern WA as a source for feedstock supplying into a locally-sited lithium concentrate plant.

Under a Memorandum of Understanding (MoU), LIT and POS will undertake due diligence and negotiate key commercial terms to underpin a proposed final agreement to jointly explore for lithium hosted pegmatites on tenements held by both entities at Lake Johnston and Ravensthorpe.

The parties will also assess the viability of utilising Poseidon’s 1.5 million tonnes per annum Lake Johnston concentrator to process lithium ores and produce a saleable lithium concentrate and downstream lithium chemical production.

The Lake Johnston operations were placed onto care and maintenance by Norilsk Nickel in 2013.

Lithium Australia said the tenements, plant and equipment remain in good standing.

“Longer term, this strategy may result in both parties capitalising on the value-add that can be achieved by processing third party ore through to lithium chemicals and cathode materials by applying SiLeach and VSPC technologies,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“LIT has great confidence in the resource potential of the Lake Johnston area, and indeed WA’s broader Dundas region.

“We are striving towards reduced exploration risk, access to ore concentration facilities and access to third-party ore sources to feed a lithium chemical plant based on our 100 per cent-owned SiLeach process and downstream into a VSPC-based cathode manufacturing facility.

“Together with Poseidon Nickel, we hope to take a very cost effective first step into the lithium ion battery manufacturing chain.”

Email: info@lithium-au.com

Website: www.lithium-au.com

Tyranna Resources Acquires Weebo Gold Project

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THE BOURSE WHISPERER: Tyranna Resources (ASX: TYX) has picked up two exploration tenements, collectively known as the Weebo gold project in Leonora, Western Australia.

Tyranna Resources indicated it has a further application for a third exploration licence currently pending.

Tyranna explained that the acquisition came about following the completion of a desktop review of the tenements (E36/880, E37/1328 and E37/1275) that suggested splays that are part of the shear system responsible for the emplacement of the neighbouring 2.3 million ounce Thunderbox gold deposit, trend SE through EL 37/1275.

“The basement geology of this license is analogous to Thunderbox and as such, will be the primary focus for the Tyranna technical team,” Tyranna Resources said in its ASX announcement.

Tyranna’s review of the Weebo gold project highlighted that two historic soil sampling campaigns stood out; both were gold-in-soil results for E37/1275.

Soil sampling was previously conducted by Pacmin Mining Corporation (1997-98) and Mt Martin Gold Mines (1990).

“The campaign carried out by Pacmin Mining Corporation extended throughout much of the E37/1275 license area and generated several low-level anomalies,” Tyranna said.

“Importantly, Mt Martin Gold Mines also identified some of these anomalous regions in the earlier soil sampling campaigns.”

The company outlined its next phase of exploration at the Weebo gold project, which is anticipated to commence in October, is to consist of a scout air-core campaign of 21 holes for approximately 1,000 metres.

“The holes are located on three north-south orientated lines at a spacing of 50 metres, each line spaced 150 metres apart,” Tyranna said.

“The drill spacing is based on Thunderbox analogy, where the mineralised portion of the deposit was typically 30 metres wide.

“As it is probable the shear trends NE, this drill spacing tests for mineralisation of a similar scale.”

Email: info@tyrannaresources.com

Website: www.tyrnnaresources.com