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Adina Mineral Resource Increases 33% to 78Mt at 1.15% Li2O with 79% Indicated
Lithium explorer / developer Winsome Resources (ASX:WR1 ; “Winsome” or “the Company”) is pleased to announce a Mineral Resource Estimate (MRE) upgrade at its 100 per cent owned Adina Lithium Project (Adina) in the Eeyou Istchee James Bay region of Quebec, Canada.
HIGHLIGHTS
- Mineral Resource increased 33% to 77.9Mt at 1.15% Li2O at Winsome’s flagship Adina Lithium Project (Adina) in the Eeyou Istchee James Bay region of Quebec, Canada.
- Mineral Resource corresponds to 2.21Mt Lithium Carbonate Equivalent (LCE) and confirms Adina’s positioning as one of the largest undeveloped lithium deposits in the world.
- 61.4Mt at 1.14% Li2O in the higher confidence Indicated category derived from systematic drilling is a strong foundation for long life project feasibility studies.
- The Adina Mineral Resource outcrops at surface and includes 48.7Mt at 1.20% Li2O in the top 150m from surface (vertical depth) allowing it to be mined by open pit methods.
- Near surface Main Zone resource now stands at 37Mt at 1.23% Li2O (Indicated and Inferred.).
- Ongoing exploration drilling focussed on testing extensions to mineralisation is expected to support continued resource growth with the potential inclusion of mineralisation intersected in drilling west and southwest of Adina Main.
- This new Mineral Resource update and current metallurgical test work will underpin both Greenfield and Brownfield project studies on track for completion 2H 2024.
- Simultaneous technical studies, permitting support studies, and environmental and social impact assessment processes for Adina underway in parallel with Project development studies ongoing, including comprehensive environmental baseline work and infrastructure planning.
- Dense Media Separation (DMS) test work results provides encouragement for a strong business case for Adina1.
- Due diligence work continues on the option to acquire nearby Renard Operation and associated infrastructure with project studies including Renard as an operating scenario.
- Appointment of Ms. Kim-Quyen Nguyen as VP Projects to lead project studies and Mr. Walter Mädel, an internal hard rock lithium processing expert, to support the project team in assessing the potential repurposing of the Renard process plant.
The MRE upgrade significantly increases the global tonnage by 33% to 77.9 million tonnes (Mt) at an improved grade of 1.15% Li2O, with an increase of 37% in Lithium Carbonate Equivalent (LCE) to over 2.21 million tonnes LCE. Importantly the MRE now includes 61.4Mt at 1.14% Li2O in the higher confidence Indicated category as a result of the systematic drilling which has been carried out at Adina (refer Table 1 below for full details including the quantities of Indicated and Inferred material).
WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:
“The update to the MRE affirms the significance of our global resource and solidifies our position and strategic location at the heart of the green energy industry and EV supply chain in North America.
“To increase the resource by almost 20Mt while also enhancing our grade and resource category is an exceptional outcome from our latest phase of systematic drilling. In particular the grade which has been defined close to surface in the Main Zone is a key advantage as we progress the Adina Lithium Project.
“It’s important to emphasise the scale, tenor and metallurgical properties of Adina are equivalent to the tier one lithium assets globally.
“This is an exciting time for Winsome, the simultaneous implementation of our exploration, development and corporate strategies are achieving well planned and executed progress.
Also, it is a great pleasure to welcome Kim Nguyen to the Winsome team as VP Projects. Kim’s recent experience managing mine development projects within the James Bay region will prove to be a of huge benefit to Winsome and help us complete our due diligence and project studies in the coming months and years. I am also very pleased to be working with Walter Mädel again given his extensive relevant experience with lithium processing and DMS plants globally.
We look forward to updating our shareholders on the progress of our due diligence to acquire the Renard Operation, as well as our ongoing exploration and study activities.”
Click here for the full ASX Release
This article includes content from Winsome Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Winsome Resources CEO Chris Evans: Sustainable Hard-rock Lithium Opportunities in Quebec Investor Kit
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Winsome Resources CEO Chris Evans: Sustainable Hard-rock Lithium Opportunities in Quebec
For the mining industry, Quebec is a region synonymous with opportunity. Not only does it contain rich deposits of over 30 minerals, but it is also host to a tremendous amount of unexplored and underexplored land.
Factor in highly-favorable mining policies and immense reserves of critical metals such as lithium, and it's clear to see why it has the attention of so many mining companies.
This confluence of factors makes Quebec an excellent target for international mining investment, and many Australian companies have already staked claims in the area.
An ideal mining jurisdiction
Quebec is home to numerous mines and exploration projects, many of which are owned and operated by some of the world's largest mining companies.
For instance, Agnico Mines (TSX:AEM) operates the largest operating gold mine in the country, Canadian Malartic, alongside Yamana Gold (NYSE:AUY,TSX:YRI). There's also IAMGOLD (TSX:IMG), which recently acquired the Doyon Division mining property with plans to process ore via the carbon in pulp method. Osisko Mining (TSX:OSK), meanwhile, owns multiple projects throughout Quebec, including Windfall, Quevillon and Urban Barry.
Other notable projects include Newmont Mining’s (TSX:NGT) Éléonore gold mine as well as the Casa Berardi mine alongside the Heva-Hosco exploration project, both owned by Hecla Mining (NYSE:HL).
Yet for all the Canadian and American companies Quebec attracts, international investors — particularly those based in Australia — find the market equally compelling.
This is in large part because Quebec is widely regarded as one of the most favorable mining jurisdictions in the world. In the Fraser Institute's 2021 Annual Summary of Mining Companies, it ranked third globally in both investment attractiveness and policy attractiveness. Geography aside, this is in large part due to government policy.
Even after Bill 14 introduced new restrictions on mining companies in 2011, mining executives continued to hold Quebec in high esteem. Mineral claims are managed on a first come, first served basis via a digital map built from high-quality geographic data. Exploration and discovery are made even simpler by the fact that prospectors must pay only a nominal fee to explore almost any area of the province.
Quebec also benefits from a skilled labor force, well-maintained infrastructure and political stability. Like many established mining regions in North America, the province's mining sector has a long history, dating back to the 1800s. And like many mining jurisdictions, Quebec has begun to turn its eye towards battery metals, lithium especially.
Inside Quebec's lithium rush
The importance of lithium is hardly a secret. As the world continues to push for sustainable energy and electrification, demand for the battery metal has skyrocketed. Although lithium prices appear to have stabilized at the moment, they spiked over 400 percent last year.
This growth is expected to continue for the foreseeable future — and any report that claims otherwise is inaccurate and misses market fundamentals. Quebec, for its part, is well-positioned to take advantage of this booming market. It currently hosts the largest known lithium deposits in Canada, totaling 31.7 million tons of proven reserves and 60.9 million tons of probable reserves.
Consequently, Quebec is also home to a multitude of lithium projects in various stages of development, all of which show a great deal of promise. Last year, for instance, junior mining company Musk Metals (CSE:MUSK) purchased a 100 percent interest in the Elon lithium property near the Quebecois mining town of Val d'Or. Nemaska Lithium, meanwhile, plans to open the largest lithium mine in North America, which is expected to produce over one percent of the global total.
More recently, Winsome Resources (ASX:WR1) has emerged as a new player in Quebec's lithium market. The Australian exploration and development company is currently focused on cultivating five separate lithium assets across the province. Winsome's flagship project, Cancet, is in its advanced stages of exploration, with extensive diamond drilling and metallurgical test work revealing high-grade deposits of both tantalum and lithium.
The company also owns the Adina Project, the Sirmac-Clapier Project and the recently acquired Decelles and Mazerac projects. Between them, its projects total over 1500 claims across over 62,000 hectares. It claims 100 percent ownership over three of these four projects — Cancet, Adina and Sirmac-Clappier — with exclusive rights to purchase Decelles and Mazerac.
ASX-listed players in Quebec
Winsome Resources may be one of the Australian lithium development companies operating in Quebec, but it is not the only mining company staking a claim to the province's rich resources. Sayona Mining (ASX:SYA), for instance, currently own three lithium projects in the area —the Authier Lithium Project near Val d'Or, the old North American Lithium mine as well as recently acquiring a controlling portion of the Moblan lithium project.
Meanwhile, in 2020 Mount Royal Resources (ASX:MRZ) entered into a binding joint ventureship with Azimut Exploration Incorporated (TSXV:AZM) to earn up to 70 percent of the Wapatik Gold-Copper Project. Rafaella Resources (ASX:RFR) has a consolidated position in the Belleterre-Angliers Greenstone Belt, with a portfolio of assets focused on nickel, copper, and platinum group metals. This portfolio was heavily augmented in May 2022, when Chase Mining (ASX:CML) sold its Alotta and Lorraine mineral claims to Rafaella.
Takeaway
Quebec is a hotbed of mining activity, particularly in the critical metals and battery metals markets. Companies from all over the world are flocking to the province, particularly from the United States and Australia. Whether you intend to invest in the mining sector for the first time or add new mining stocks to your existing portfolio, Quebec is an excellent place to start.
This INNSpired article is sponsored by Winsome Resources (ASX:WR1). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Winsome Resourcesin order to help investors learn more about the company. Winsome Resources is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Winsome Resourcesand seek advice from a qualified investment advisor.
Winsome Further Expands Lithium Exploration Footprint in Quebec
Perth-based lithium exploration and development company Winsome Resources (ASX:WR1; “Winsome” or “the Company”) is pleased to advise it has partnered with geology specialist Mr Glenn Griesbach and with local prospector Mr Marc de Keyser.
Highlights:
- Exclusive option agreement executed for Winsome to acquire and explore a further 259 claims, totalling 149 km2 in the highly sought after greater Decelles region of Quebec, Canada
- Option agreement expands Winsome’s lithium exploration footprint in Quebec, enlarging Company’s recently acquired Decelles claim area by nearly 40%
- This expanded area, known as Mazérac, is located around the Decelles Reservoir, about 50km southwest of Val-d’Or and easily accessible by a network of forestry roads
- The region has seen much recent staking and prospecting activity, including highgrade spodumene discoveries by Vision Lithium at their nearby Cadillac property1
- Enlarged property holding is highly complementary to Company’s 100% owned, existing projects in the James Bay region – Cancet, Adina and Sirmac-Clapier
The Company has entered into an exclusive option agreement to acquire 258 claims from Mr Glenn Griesbach and one claim from Mr de Keyser, totalling 149km2 in the prospective Mazérac region of Quebec, Canada. This is within the greater Decelles area, where the Company also acquired new property in January 20222 .
Mazérac is located close to the mining centres of Val-d’Or and Rouyn-Noranda, approximately 600km from Montreal. The Company has signed an exclusive option agreement to explore and subsequently acquire the claims over a 24-month period.
Mr Griesbach is a Canadian-certified geologist with more than 40 years of mineral exploration experience across Canada, Africa, China, and Southeast Asia. Mr de Keyser is a seasoned local prospector of First Nation heritage, with a strong understanding of the Mazérac region.
By entering into this agreement, the Company further expands its land holding in Quebec, exploring a new area of the province known for granitic and pegmatitic outcrops. The area is located close to infrastructure and the major mining centres immediately adjacent to recent lithium discoveries1 (see Figure 1 map)
Managing Director Chris Evans said:
“We are delighted to have entered into the option agreement for a further 259 claims at Mazérac in the Decelles region. There has been a considerable amount of recent lithium focused activity in the surrounding region, with several public and private companies making successful discoveries.
“By acquiring this project, we significantly increase the Company’s prospective lithium landholding in Quebec and continue towards achieving our vision of supplying high grade lithium products into the North American battery supply chain.”
Transaction details
Winsome has entered into an exclusive option agreement to acquire 259 claims from Mr Griesbach under the following broad terms:
- An upfront fee of AUD$75,000, paid in WR1 shares
- AUD $250,000 paid in three tranches of WR1 shares, based on the five-day VWAP from last week’s trading (AUS $0.47). This will equate to:
- 177,000 WR1 shares issued now
- 177,000 WR1 shares issued on 3 May 2023
- 177,000 WR1 shares issued on 3 May 2024
- A 2% Net Smelter Royalty (NSR) over the properties which can be reduced to 1% at any time for a consideration of AUD $1,000,000
Once the final payment of 175,000 WR1 shares is made on 3 May 2024, the 259 claims will transfer to Winsome’s Canadian subsidiary.
The Company also has the ability to accelerate the acquisition at any point within the next 24 months and have the claims transferred immediately by issuing all shares due to Mr Griesbach.
As a separate transaction, the Company paid Mr de Keyser CAD $20,000 to acquire outright the ‘Nippy Hill’ claim which is contiguous to the other Mazérac claims described above.
Click here for the full ASX Release
This article includes content from Winsome Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for Period Ending 31 March 2022
Winsome Resources Limited (ASX: WR1) ("the Company" or "Winsome Resources ") is pleased to report on its Quarterly activities for the period ending 31 March 2022.
Quarter Highlights
Exploration- Entered into exclusive option agreement to explore and acquire 669 claims in the highly prospective Decelles Region
- Sourced drill rig, planned combined infill/extension drilling campaign at Cancet
- Commenced 2,100m program in mid-March 2022 at Cancet
- Commenced gravity survey at Cancet
- Made contact with First Nations Cree people and discussed details of Winsome exploration at Cancet. Meeting planned for PDAC conference in June
- Meeting with representatives of the Northern Quebec Regional Directorate for the Department of Energy and Natural Resources to discuss project details
Health and Safety
- In excess of 3,500 hours worked on site at Cancet as part of the drilling and survey, with no lost time or safety incidents
- All contractors and staff remained COVID safe throughout winter exploration activities
Corporate
- Commenced trading on Frankfurt Exchange under code 4XJ
- Application submitted to trade on New York’s OTCQB
- Launched unmarketable parcel facility to reduce administrative costs associated with shareholdings of less than AU$500 in value
- Attendance at Mines and Money& Battery Materials conference
- Discussions held with potential strategic partners
- Acquired new equipment and facilities including skidoo, company truck, base of operations in Rouyn-Noranda, Quebec
- New office secured, located with corporate/IR advisors to reduce overhead costs and enhance synergies by working in the same location
EXPLORATION ACTIVITIES
Decelles Acquisition
Immediately after listing, Winsome formed a partnership with Glenn Greisbach, a Quebec regional geology specialist, to expand its land portfolio by discovering and acquiring new properties in Quebec with a high degree of lithium potential.
This led to Winsome entering into an exclusive option agreement in late January 2022 to acquire 669 claims, totalling 385km2, in the prospective Decelles region of Quebec, Canada. Decelles is located close to the mining centres of Val-dÓr and RouynNoranda, approximately 600km from Montreal. The Company signed an exclusive option agreement to explore and subsequently acquire the claims over a 24-month period.
By entering into this agreement, the Company can more than double its land holding in Quebec and explore a new area of the province known for granitic and pegmatitic outcrops, located close to infrastructure and the major mining centres immediately adjacent to recent lithium discoveries (see Figure 1).
Click here for the full ASX Release
This article includes content from Winsome Resources Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Advanced High-Grade Antimony & Silver Project Aquisition
Lode Resources Ltd (ASX:LDR) (“Lode”, or the “Company”) is pleased to announce it has signed a heads of agreement to acquire 100% of the Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province. This project includes a high-grade antimony-silver-lead deposit with initial development, advanced metallurgy, significant mining equipment and beneficiation infrastructure.
Highlights
- High-grade Montezuma antimony-silver-lead deposit defined by surface channel sampling, exploration adit face sampling and diamond drill core sampling.
- Surface grab samples grade up to 24.5% antimony (Sb) & 3,050 g/t silver (Ag)
- Diamond drill core samples grade up to 20.3% antimony (Sb) & 1,990g/t silver (Ag)
- Development face samples grade up to 21.4% antimony (Sb) & 2,478g/t silver (Ag)
- Development of portal box cut and commencement of exploration drive has produced stockpiled mineralisation. Representative bulk sampling of combined mineralisation/waste averaged 4.75% antimony (Sb) & 239 g/t silver (Ag) and representative bulk sampling of mineralisation only, averaged 9.02% antimony (Sb) & 769 g/t silver (Ag) reconciling well with corresponding face sampling.
- Metallurgical test work is well advanced with 90% recoveries of antimony achieved producing a saleable antimony product.
- R&D funding discussions are ongoing with local and international institutions including those representing major western governments.
- Montezuma Antimony Project acquisition complements Lode’s antimony exploration portfolio in the New England Fold Belt, NSW’s most prolific antimony province. Together, these assets create a formidable Antimony division within Lode.
- Also compliments Lode's high-grade Silver portfolio with assays due shortly from the Webbs Consol Silver project where drilling at the Castlereagh prospect has been completed.
- Montezuma Antimony Project acquisition terms include:
- $50,000 non-refundable cash deposit payable within 2 business of execution of the HOAie 22 October 2024; plus
- $200,000 cash payable on completion of the Proposed Acquisition; plus
- 10,000,000 fully paid ordinary shares in the Company at a deemed issue price of $0.10per share on completion of the Proposed Acquisition subject to 12-month escrow; plus
- Up to 6,000,000 fully paid ordinary shares in the Company at a deemed issue price of $0.10 per share upon satisfaction of certain performance hurdles by the Sellers (key terms are outlined in Annexure 1) and subject to 12-month escrow.
- The fully paid ordinary shares will be issued under listing rule 7.1 using the Company's existing capacity.
Proposal to Acquire Montezuma Antimony Project
The Montezuma Antimony Project includes a high-grade antimony-silver-lead deposit with initial development, advanced metallurgical test work and significant beneficiation infrastructure.
Montezuma Antimony Project Deposit
The Montezuma Antimony Project deposit (2M-2023, EL7-2019) is located between well-known mining centres such as Rosebery (Zn,Cu,Pb), Renison Bell (Sn), Henty (Au) and Zeehan(Pb,Ag). Access is via the Zeehan township located 14km to the west.
Figure 5. Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province
The Montezuma antimony-silver-lead deposit is a structurally controlled lode, emplaced primarily within the well-known Motezuma fault and hosted by a sequence of turbidites. Antimony and lead are contained within Jamesonite, a lead-iron-antimony sulphide mineral (Pb4FeSb6S14) and is a late-stage hydrothermal mineral forming at moderate to low temperatures. This project is also prospective for copper, zinc and gold.
The Montezuma antimony-silver-lead deposit is defined by surface sampling of the exposed mineralised structure over 50m strike length, development face sampling and 13 diamond drill holes which have intercepted high-grade mineralisation down to a depth of 80m. The Montezuma antimony-silver-lead deposit remains open to the north, south and at depth.
Click here for the full ASX Release
This article includes content from Lode Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$500,000 Raised for Uranium Exploration at Munaballya Well Target
Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has raised $500,000 from professional and sophisticated investors (Placement).
- Augustus Minerals has raised over $500,000 via a Placement.
- Proceeds from the capital raising will fund:
- On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program.
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with diamond drilling in progress at the Minne Springs Copper- Molybdenum porphyry prospect.
Under the placement, AUG will issue 10,000,000 fully paid ordinary shares (Shares) at an issue price of $0.05 per Share.
Funds raised through the Placement will be used primarily for the following:
- On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program (final interpretation imminent).
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Heritage survey over newly defined areas once progressed to drilling status,
- Working capital and costs of the Placement.
The Munaballya Well (GSWA listed uranium occurrence) main basin U anomaly covers 4km x 0.7km area, with uranium concentrated in weathered dolomitic marls of Carnarvon Basin sediments. Figure 1 shows the area of the main uranium channel anomaly from an open file ground radiometric survey conducted by Thundelarra Uranium, as carnotite is concentrated in top 5-10m of weathered dolomitic layers.
VTEM survey is testing for near surface weathering of surficial zones as well as investigating the potential for deeper Unconformity Style mineralisation along the contact between the basement granites and metamorphics and the Carnarvon Basin sediments.
Figure 1 Aster, ground radiometrics and Airborne Radiometric images from WAMEX Open File Report a87139 Thundelarra Exploration 2010.
The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 capacity.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Australia’s International Mining Week: IMARC Sideline Events Unveiled
Next week, the International Mining and Resources Conference + Expo (IMARC) 2024 will open its doors at the ICC Sydney, bringing together the mining industry's entire value chain.
Beyond the impressive showcase of 500+ exhibitors and a conference program with 9 streams and 600+ speakers, IMARC will feature 40 sideline events, hosted by local and international organisations, to deliver a comprehensive experience. These events enrich the experience of IMARC attendees, cementing its position as Australia’s International Mining Week.
Sherene Asnasyous, Event Director at IMARC, emphasised the significance of these sideline events.
“IMARC paves the way for meaningful discussions, collaborations, networking, and knowledge sharing within the mining and resources sector. These sideline events range from co-located conferences, industry events, networking sessions, to launch announcements, providing attendees with diverse opportunities to enhance their IMARC experience.
I am delighted by the addition of esteemed organisations such as the Gold Industry Group and Women in Sustainable Energy & Resources (WISER) choosing to host their events at or around IMARC. I strongly encourage attendees to explore our full list of sideline events to identify those aligned with their interests,” Ms. Asnasyous said.
Take a closer look at some of the sideline events that will take place during the week of IMARC 2024.
INDUSTRY EVENTS
- Mining the Future: Securing Critical Materials and Leading the Way to Net-Zero
29 October 2024, 02:30pm - 04:30pm
Hosted by McKinsey & Company - Invest in Canada Executive Luncheon: A Land of Opportunities for Exploration, Mining & METS Companies
30 October 2024, 12:30pm - 02:30pm
Hosted by Invest in Canada - Peru Time – Day 1
29 October 2024, 11:30am - 01:00pm
Peru Time – Day 2
30 October 2024, 03:00pm - 05:00pm
Hosted by Australian Peru Chamber of Commerce - What Will It Take to Create Australia’s Critical Minerals Midstream?
30 October 2024, 03:30pm - 05:30pm
Hosted by Critical Minerals Association - Gold Horizons: Trends, Technologies, and Tomorrow’s Opportunities
30 October 2024, 07:00am - 08:30am
Hosted by Gold Industry Group - Resourcing Australia’s Prosperity – Consultation Workshop
31 October 2024, 11:30am – 12:30pm
Hosted by Geoscience Australia
EXECUTIVE BRIEFINGS
- ESG Data & Disclosure
29 October 2024, 12:00pm – 01:30pm
Hosted by Beacon Events - Supply Chain Transparency
29 October 2024, 02:00pm - 03:30pm
Hosted by Achilles - How to Use Innovative Fatal Risk Management Technology
30 October 2024, 11:30am - 01:30pm
Hosted by myosh - Tailings Dams Management
30 October 2024, 02:30pm - 04:00pm
Hosted by k2fly
NETWORKING
- Mongolia Networking Reception @ IMARC
29 October 2024, 04:00pm - 06:00pm
Hosted by Mongolia National Mining Association - Australia-Korea IMARC Speed Networking
29 October 2024 - 05:00pm - 06:45pm
Hosted by Australia-Korea Business Council - Women’s Networking Breakfast
31 October 2024, 07:00am - 08:30am
Hosted by Women in Sustainable Energy & Resources (WISER) and Indigenous Women in Mining and Resources Australia (IWIMRA)
LAUNCH ANNOUNCEMENTS
- Official Launch of AEMEE's Culture Catalyst Tool - Empowering Outcomes in Indigenous Procurement, Employment and Engagement
29 October 2024, 02:00pm - 02:20pm
Hosted by Aboriginal Enterprises in Mining, Energy and Exploration (AEMEE) - Launch of CSIRO’s Australian Attitudes toward Mining 2024 Report
29 October 2024, 05:00pm - 07:00pm
Hosted by CSIRO - Official Launch of the International Copper Association Australia Digital Knowledge Platform “CopperConnect”
30 October 2024, 04:55pm – 05:30pm
Hosted by the International Copper Association Australia
CO-LOCATED CONFERENCES
- Mining, Metals and the Circular Economy
29 October 2024, 12:00pm - 05:30pm
Hosted by Beacon Events - Mining and Space @ IMARC
30 October 2024 - 11:30am - 04:30pm
Hosted by Australian Remote Operations for Space and Earth (AROSE)
For a more extensive list of IMARC’s sideline events, visit https://imarcglobal.com/events
IMARC takes place on 29 – 31 October at the ICC Sydney. With IMARC opening next week, now is the ideal time to secure your pass. Register today at https://imarcglobal.com/register.
Justinian Cu-Au Prospect Extended Over 3km with 5.3g/t Au and Cu to 16%
Augustus Minerals (ASX: AUG; Augustus or the Company) is pleased to announce the latest soil sampling and follow-up rock chip results from the Company’s Ti-Tree project. Review of soil sampling data from the program started earlier in the year has identified several new targets (Justinian) and/or extensions to existing prospects (Crawford in the west of the project area) and possible extensions to Coo Creek.
Augustus Minerals has received new assays from ongoing soil sampling and rock chip sampling programs conducted on the Justinian prospect and adjacent areas at the Ti- Tree Project, in Western Australia
- High grade rock chips assaying up to 16% copper and up to 5.32g/t gold have been identified from field work over a 3.3 x 1.1km area
- The copper and gold identified in rock chips supports the anomalous soil sampling results from the recent regional survey.
- The soil and rock chip results define areas of Cu and Au anomalism related to splays of the Ti-Tree Shear wrapping around the Crawford Granite.
- Other anomalous soils have identified areas for further mapping and rock chip sampling north and west of Crawford Bore, and west of Coo Creek Broken Hill Style target.
- Elevated copper and lead in soils identified on a NE trending shear at Howell’s Gap
- Strong base metal anomalism over the Moogooree carbonate hosted Zn-Pb target.
Mapping and field work is continuing to increase the definition and tenor of anomalies to drill targets for future programs.
The soil samples, sieved in the field to pass -80#, were scanned by Portable Spectral Services (PSS) at their West Perth office under controlled conditions. In the western Ti-Tree area, above background levels of Cu, Pb and Zn were returned which defined adjacent or frequently coincident trends (Figure 2). Figure 3 shows Cu-in-soils and copper in rock chips. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.
Gold-in-soils was determined by 50g Fire Assay at Intertek’s Perth laboratory.
Figure 1 Prospects and VTEM Survey areas
Table 1 Significant Rock Chips Justinian (>0.1% Cu, 0.1g/t Au or 0.1% Pb).
Justinian Prospect
Review of soil sampling data from the regional soil program has identified several new targets and/or extensions to existing prospects.
Previous rock chip sampling1 identified gold to 10.1g/t at Justinian (Figures 1 and 2). Further rock chips within the soil anomaly have returned assays to 5.32g/t Au (WA001301) and 16% Cu (WA001310) (Table 1).
Justinian also shows anomalous levels of lead and zinc (Figure 2).
The mineralisation is dominantly hosted within the Leake Springs Metamorphics, a complex package of pelitic schist and fine-grained often garnet rich psammite.
Figures 3 and 4 show Au and Cu respectively in soil (pXRF results) and rock chips (four acid digest or aqua regia digest) at the Justinian prospect. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.
The Justinian prospect has been extended to cover a 3.2km x 1.1km area containing several distinct soil anomalies which appear to be coincident with diffracted splays of the Ti-Tree Shear around the Crawford Granite intrusions. It is possible that the diffraction around the more rigid granite bodies is causing dilation where the Ti-Tree Shear splays penetrate the host Leake Springs Metamorphics.
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This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Prospective IOCG Target Identified at the Coober Pedy Copper Project, SA
AusQuest Limited (ASX: AQD) is pleased to advise that detailed gravity over a regional magnetic/gravity target within its Coober Pedy Project in South Australia has confirmed a potential iron-oxide copper-gold (IOCG) target(s) near the north-eastern margin of the Gawler Craton, approximately 100km north-west of the Prominent Hill Copper-Gold deposit.
- Magnetic and gravity responses highlight the potential for IOCG mineralisation.
- Limited historical drilling data provides evidence for an alteration footprint.
- Project located at northern end of the world-class Olympic Dam IOCG Province.
AusQuest’s Managing Director, Graeme Drew, said the Company was encouraged by the results of the survey, which confirmed the potential for large-scale copper-gold discoveries within a Tier-1 mineral province.
“The recent gravity survey has provided support for the occurrence of IOCG-style mineralisation within our Coober Pedy Project, which is located at the northern end of a world-class IOCG Province which already hosts several major copper-(gold) deposits, including Olympic Dam, Carrapateena and Prominent Hill, as shown in Figure 1,” he said.
Figure 1: Coober Pedy Project Location Plan showing major deposits in the area.
A detailed gravity survey was completed by Daishsat Geodetic Surveyors (400m x 100m grid with selected in-fill lines at 200m) outlining possible targets for drilling. A residual gravity image is provided below showing two anomalous areas within a broader gravity response (~5km x 2km), that are associated with historic drill-holes that were found to contain potassic alteration (Figure 2).
Correlation with available aeromagnetic data shows that the gravity anomalies are offset from the stronger magnetic responses, suggesting the possibility of hematite rather than magnetite as a possible cause for the gravity anomalies (Figure 3).
Figure 2: Residual Gravity Image showing location of gravity stations and historic drill-holes (Vale 2015) containing potassic alteration
Figure 3: First Vertical Derivative magnetic image plus residual gravity contours showing the location of historic drill-holes relative to the magnetic and gravity anomalies.
Analysis of available geochemical data contained within historical company reports provided by Government (PIRSA)*, was used to highlight the presence of potassic alteration within both drill-holes (GAW_RC01 and RC02), and the presence of additional proximity indicator elements, including an enrichment in iron (Fe) within drill-hole GAW_RC01, that suggests the possibility of a nearby IOCG system.
The close association of hematite and magnetite with IOCG mineralisation is well known in the IOCG Province of South Australia, which hosts the world-class deposits of Olympic Dam, Carrapateena and Prominent Hill, and is the main reason why magnetic and gravity surveys are commonly used to identify targets for drilling in these areas.
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This article includes content from Ausquest limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Deep Diamond Drilling Commences on Large Copper-Mo Porphyry System
Augustus Minerals (ASX: AUG; Augustus or the Company) is pleased to advise that the EIS supported diamond drilling (DD) drill program has commenced at the Ti-Tree Project, ~200kms east of Carnarvon in Western Australia (Figure 1).
- Diamond Drilling has commenced to target a large copper-molybdenum porphyry system at Minnie Springs.
- The deeper diamond drilling is designed to target beneath a 3km long by 1km wide copper molybdenum soil anomaly.
- Previous drilling at Minnie Springs intersected mineralisation, geology and an alteration halo consistent with the zoning of a large porphyry copper / molybdenum system.
- The drilling is supported by a co-funded drilling grant of up to $110,000 for 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
Andrew Ford, GM Exploration
“The commencement of the diamond drilling marks an exciting time for Augustus, with the first hole testing below the existing molybdenum mineralised zone and targeting a high- grade copper core of a porphyry system”
The diamond program scheduled for completion mid-November.
Minnie Springs
Minnie Springs hosts porphyry related Copper - Mo mineralisation that was previously drilled by Equatorial Mining and Catalyst Metals. A molybdenum Exploration Target has previously been defined by SRK Consulting for the historic drilling area as outlined below (Table 1)1.
Alteration mapping suggests a potential tilting of the Minnie Springs system to the northeast, with untested potential for higher grade Copper - Mo mineralisation below existing drilling within the potassic altered zone (Figure 1).
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm Mo cut-off at 100% recovery.
Clarifying Statement: The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 1. Schematic cross section looking northwest showing porphyry copper-molybdenum deposit model (Pour and Hashim 2012 – inset at right) rotated 90 degrees and superimposed on existing and planned drilling2.
The program is supported by the WA Government’s Exploration Incentive Scheme (EIS) drilling grant of up to $110,000 for two 700m deep diamond drill holes at the Minnie Springs prospect.
The drilling is designed to provide a 550m deep, geological/geochemical/structural cross- section through the large 3km long by 1km wide copper molybdenum porphyry system.
Previous drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a porphyry copper / moly system.
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This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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