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![Basin Energy](https://investingnews.com/media-library/basin-energy.png?id=31857476&width=980&quality=80)
Airborne Electromagnetic Survey Completed At Geikie
Basin Energy Limited (ASX:BSN) (‘Basin’, or ‘the Company’) is pleased to advise that the airborne electromagnetic (‘AEM’) survey is now complete at the Geikie Uranium Project (‘Geikie’ or the ‘Project’). All preliminary data has been received with high priority targets identified. Data processing analysis has commenced which will be used for final target definition to support the maiden drill program. In addition to the significant, newly identified electromagnetic (‘EM’) conductor in the Southeast of the Project (Refer ASX announcement dated 8th March 2023) and the multiple conductive anomalies associated with regional structures, the survey has also highlighted an additional conductor in the west of the Project.
Key Highlights
- Property-wide Airborne Electromagnetic Survey now completed at Geikie
- Data processing underway for target definition and priority ranking
- Additional EM conductor identified in the west of the property
- Preparation works well underway for maiden drill program
- Fully funded for a significant 2023 exploration program with $7.6m at 31 December 2022
“The completion of the AEM survey is a significant milestone for our Geikie project and forms a critical step towards de-risking drill targets. This is the first detailed airborne electromagnetic survey over the entirety of the Project and is a significant step forward in delineating a series of high-quality, high-grade, yet shallow uranium targets.
The survey has identified a series of compelling drill ready targets in the structural intersections of the main conductor and the district scale faults observed in the magnetic data. Whilst the final AEM data is required to allow refinement of these targets, the Company can now continue preparations for inaugural drilling at its Geikie project.
We eagerly await the commencement of the next phase of work. The Company is fully funded for exploration on the Project with a high-quality suite of targets in a proven uranium region in the Athabasca Basin puts the Company in a strong position for the year ahead.”
AEM Preliminary Results
Data acquisition for the AEM survey has now been completed at Geikie. The survey objectives were to map suitable lithological and structural settings conducive to high-grade uranium mineralisation. This includes the identification of graphitic lithologies coincident with fault zones, as seen in deposits of the local region. The data in conjunction with existing knowledge will now be used for drill targeting.
Preliminary results from the initial 65% of the survey were released on the ASX on 8 March 2023, “Geophysical Targets Identified at Geikie” and identified a new, significant EM conductor in the southeast of the Project. On completion of the full survey, an additional conductor in the west of the Project was identified.
Figures 1 and 21: Locations of AEM primary and secondary targets over (left) Channel 10 VTEM data and (right) 2022 magnetic data. Note: potential AEM target zones are based on preliminary data.Final levelled data is yet to be received.
Preliminary data has been categorised into primary and secondary targets, with the next steps for primary targets being the modelling of final AEM data followed by drill testing. The secondary anomalies are potentially significant considering the correlation with regional faults, however further assessment will be conducted as modelling of final data is completed.
A strong coherent northeast trending conductor, classified as a primary target, striking through the southern half of the Project is clearly defined. A series of splays and offsets of this conductor are visible, often in correlation with intersections of regionally significant deep-seated north-south trending faults, part of the Tabbernor Fault System (‘Tabbernor’, or ‘TFS’).
Click here for the full ASX Release
This article includes content from Basin Energy, 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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Basin Energy
Overview
Basin Energy (ASX:BSN) completed an IPO in October 2022 and is well-positioned as a uranium exploration and development company to take full advantage of the current political and economic environment for the global supply of uranium. The company operates three projects in the world-class Athabasca Basin in Saskatchewan, Canada, known as the world’s leading source of high-grade uranium, currently accounting for approximately 10 percent of global uranium production. The company’s projects are in close proximity to high-grade uranium discoveries and mining operations within the Athabasca Basin.
Interest in uranium has skyrocketed in recent months, driven by the need for lower emissions and stable power generation. Nuclear reactors provide significant power for 32 countries globally, including the US, Canada, China, France, Hungary, Japan and Finland.
Demand has become a key driver of uranium prices, with Sprott Asset Management further enhancing demand by launching two investment vehicles that have already found rapid success: Physical Uranium Trust (TSX:UUN) and Uranium Miners ETF (ARCA:URNM). Combined, existing demand and investment interest create a compelling opportunity for uranium miners and their investors.Company Highlights
- Basin Energy is a uranium exploration and development company with three highly prospective projects in the world-renowned Athabasca Basin in Canada, known for being a consistent top three global uranium producer.
- Basin Energy’s board, management team and joint venture partner have direct extensive experience in uranium exploration and development along with comprehensive expertise in corporate financing, investment banking and geology. The company’s highly prospective uranium exploration portfolio comprises:
- The Geikie Project - located on the eastern margin of the Athabasca Basin occupying an extensive land position of 351 square kilometers, showing multiple uranium and uranium pathfinder occurrences, and is prospective for shallow, high-grade mineralization with maiden drilling identifying uranium up to 0.27 percent;
- The North Millennium Project - an interpreted extension of the Mother Fault that hosts Cameco’s Millennium Deposit (104.8 Mlb U3O8 3.76 percent), located just 7 kilometers to the south; and
- The Marshall Project - located only 7 kilometers west of Cameco’s Millennium deposit centered on a strong magnetic and conductive anomaly interpreted as a significant unconformity-type uranium target.
- Basin Energy is committed to sustainable development throughout its operations, aiming to minimize environmental impact from all stages of the exploration and development cycle.
Key Projects
Basin has interest in and is actively exploring three highly prospective properties positioned in the southeast corner and margins of the Athabasca Basin, an area well known for its uranium endowment and pedigree. These are the Geikie (60 percent, North Millenium (40 percent) and Marshall (100 percent) projects.
The project portfolio provides exposure to traditional “unconformity style” exploration, targeting the same mineralisation model as Cameco’s (TSE:CCO) prolific McArthur River mine which hosts 674.9Mlb uranium at 16.9 percent at its North Millenium and Marshall projects, as well as exposure to potentially shallower “basement style” exploration targeting deposits similar to NexGen Energy’s (TSE:NXE) Arrow deposit which hosts 30.61Mlb uranium at 4.6 percent.
Geikie Project
The Geikie Project covers a significant area of 351 square kilometers on the eastern fringe of the Athabasca Basin and is easily accessible from Highway 905, which is located just 10 kilometers to the east. This portion of the Athabasca Basin is deemed perspective for shallow “basement style” mineralisation, but has traditionally been overlooked from much of the previous campaigns of uranium exploration. The discovery of multiple basement-hosted uranium ore bodies in recent years elsewhere in the district has driven a focus on the area.
The project was initially prioritized following a targeting review utilizing historical geophysics. Historical geochemistry confirmed the presence of uranium and suitable host lithologies. Recent nearby high-grade, shallow uranium discoveries by 92 Energy (ASX:92E) and Baselode Energy (TSXV:FIND), further enhance the overall prospectivity of the asset.
Project Highlights:
- Exploration underway: Basin Energy has completed mapping, geochemical sampling, airborne geophysics and maiden drilling. Further drilling is planned for 2024-.
- Shallow targets amenable to rapid exploration: Target horizon sits directly beneath glacial cover, in what was historically an overlooked part of the district.
- Nearby high-grade discoveries: The proximity of recent discoveries creates further confidence in the prospectivity of the project geology, being located adjacent to two recent discoveries:
- 92 Energy’s Gemini discovery 43 meters at 0.6 percent eU3O8 including 6 meters at 2.2 percent U308.
- Baseload Energy’s AKIO discovery was 13.2 meters at 0.55 percent U3O8 including 6.3 meters @ 0.99 percent U3O8.
- Presence of uranium: The maiden drilling program intersected anomalous uranium in four of the eight holes drilled, with assays returning up to 0.27 percent U3O8.
- Extensive scale: Geophysical data, combined with drilling data demonstrates significant scale opportunity with over 30 metres of intense alteration and brecciation intersected in drilling, that can be correlated to regional structural features identified in magnetics. This provides immediate follow up targets.
Since its IPO, the company has completed an extensive campaign of high resolution modern airborne geophysics including magnetics, radiometrics, electromagnetics and gravity gradiometry, as well as initial ground prospecting. These surveys have confirmed the pre-IPO geological interpretation and successfully identified a series of uranium targets.
Basin Energy completed its maiden 2,217-meter drilling program at Geikie in the summer of 2023, the first drilling to occur within the Project area in over 50 years. Drilling successfully identified uranium mineralisation with assays up to 0.27 percent U3O8. Uranium mineralisation is located proximal to two regionally significant structures at Aero Lake and Preston Creek with associated extensive hydrothermal alteration indicative of large uranium mineralising systems. Furthermore, an extensive geochemical pathfinder halo has been identified at Preston Creek, characteristic of uranium mineralising systems seen elsewhere in the district.The company further expanded the Geikie Project with two additional claims consisting of 11.87 square kilometers, bringing the total Geikie project area to 350.87 square kilometers. The newly staked claims are adjacent to the Preston Creek and Hourglass Lake prospects, where Basin’s maiden exploration drilling is underway.
The company currently owns 60 percent of the Geikie Uranium Project following the fulfillment of expenditure requirements to meet the option payment. Basin has elected to proceed with the option agreement to increase its ownership to up to 80 percent through earn-in stages.
North Millennium Project
North Millennium is located just 7 kilometers north of Cameco’s (NYSE:CCJ) Millennium Deposit, which contains 104.8 million pounds (Mlb) U3O8 at 3.76 percent, and 40 kilometers southwest of their flagship McArthur River Mine hosting 674.9 Mlbs U3O8 at 16.9 percent. Within the property, Basin Energy has identified two high-priority targets along a 5-kilometer corridor for initial priority exploration. The initial target is where an interpreted extension of the Millennium Mother Fault intersects a strong basement conductor.
Project Highlights:
- Favorable geology: The interpreted structural and stratigraphic geology has strong similarities with some of the major uranium deposits within the Athabasca, such as a basement conductor trend disrupted by an interpreted extension of the Millennium Deposit Mother Fault.
- Proximity to known mineralization and recent discoveries:
- Located 7 kilometers north of Cameco’s Millennium deposit
- Drilling to the south of the project, proximal to the Millennium Deposit Mother Fault intersected uranium and uranium pathfinder elements.
- A drill hole on a nearby property completed by joint venture partner CanAlaska (TSXV:CVV) identified high-grade mineralization of 9 meters at 2.4 percent U3O8, further enhancing confidence in the project.
- Thoroughly defined exploration strategy: The company is currently compiling historical data, including completing a 3D inversion of results from an existing historic airborne ZTEM campaign. Exploration work will subsequently consist of:
- Targeted ground geophysics
- Stepwise moving loop time domain electromagnetics
- Potentially DCIP resistivity
- Exploration diamond drilling
- Targeted ground geophysics
Marshall Project
Located in the southeast corner of the Athabasca Basin, the Marshall Project has received limited historic exploration between 1979 and 2009, which included surface geochemistry, electromagnetic surveys and ground geophysics.
The Marshall Project contains a strong magnetic and conductive structure indicative of an unconformity-type uranium target, the asset’s primary target. Recently completed modern 3D inversion and processing works of historical geophysical data identified multiple geophysical anomalies above and below the Athabasca unconformity within the sandstone and basement stratigraphy at the Marshall Project.
Project Highlights:
- Significant geophysical anomalies: Interpretation of historical geophysical data suggests a metasedimentary basin with a graphitic basal unit, cross-cut by a magnetic and conductive NE/SW structure – indicative of a geological setting suitable for high-grade uranium mineralization.
- Proximity to known mineralization and recent discoveries:
- Located 10 kilometers west of Cameco’s Millennium deposit
- A drill hole along strike at the McArthur West project, completed by joint venture partner CanAlaska (TSXV:CVV) identified high-grade mineralization of 9 meters at 2.4 percent U3O8, further enhancing confidence in the project.
- Thoroughly defined exploration strategy: The company is currently compiling historical data, including completing a 3D inversion of results from an existing historic airborne ZTEM campaign.
- Exploration work will subsequently consist of:
- Targeted ground geophysics
- Stepwise moving loop time domain electromagnetics
- Potentially DCIP resistivity
- Exploration diamond drilling as merited
Management Team
Blake Steele - Non-executive Chairman
Blake Steele is an experienced metals and mining industry executive and director with extensive knowledge across public companies and capital markets. He was formerly president and chief executive officer of Azarga Uranium Corp (Azarga), a US-focused integrated uranium exploration and development company. He led Azarga into an advanced stage multi- asset business, which was ultimately acquired by enCore Energy Corp (TSX.V:EU) for C$200 million in February 2022.
Pete Moorhouse - Managing Director
Pete Moorhouse has 18 years of mining and exploration geology experience with extensive experience in the junior uranium sector, having spent over 10 years with ASX-listed uranium explorer and developer Alligator Energy (ASX:AGE). He holds significant competencies in evaluating, exploring, resource drilling and feasibility studies across many global uranium and resource projects.
Jeremy Clark - Non-executive Director
Jeremy Clark has over 19 years of mining and exploration geology experience. He previously held technical and management roles at the recognized consultancy firm RPM Global for over 13 years, gaining experience across a number of uranium, base metals, and precious metals deposits globally. Subsequent to RPM, Clark established his own boutique geological consultancy firm, Lily Valley, focused in regards to compliance-related issues, IPOs and M&A.
Cory Belyk - Non-executive Director
Cory Belyk holds 30 years’ experience in exploration and mining operations, project evaluation, business development and extensive global uranium experience most recently employed by Cameco in the Athabasca Basin. He was a member of the exploration management team that discovered Fox Lake & West McArthur uranium deposits. Currently CEO/VP of Canadian Athabasca uranium explorer & project generator, CanAlaska (TSXV:CVV).
Peter Bird - Non-executive Director
Peter Bird is an investment banking professional with experience leading and managing a variety of global transactions including IPOs, Capital Raises and M&A Currently working with New York based investment fund, where he provides strategic funding solutions to a variety of international clients. He previously held the role of associate director at a Perth-based boutique corporate advisory firm focused on natural resources.
Ben Donovan - NED/ Company Secretary
Ben Donovan has over 22 years of experience in the provision of corporate advisory and company secretary services. He holds extensive experience in ASX listing rules compliance and corporate governance and has served as a Senior Adviser to the ASX for nearly 3 years Currently CoSec to several ASX listed resource companies including M3 Mining (ASX:M3M), Magnetic Resources (ASX:MAU) and Legacy Iron Ore (ASX:LCY).
Odile Maufrais - Exploration Manager
Odile Maufrais is an exploration geologist with over 14 years of experience and has an extensive understanding of the uranium exploration and mining industry, having worked at ORANO, one of the largest global uranium producers for 12 years on various assignments in Canada, Niger, and France. Maufrais has significant Athabasca Basin-specific experience, being involved on over 15 greenfield and brownfield uranium exploration projects located throughout the Basin. Her most recent roles for ORANO comprised leading various uranium exploration campaigns and being an active member of the ORANO research and development team, which involved working on trialing and implementing cost-effective and streamlined drilling techniques within the Athabasca Basin. She also played a key role in the update of the National Instrument 43-101 compliant mineral resource estimate for the Midwest Main and Midwest A deposits. Mrs. Maufrais holds a Master of Science from Montpellier II University, France.
Successful Placement
Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that it has received firm commitments to raise $1.15M through a Share Placement pursuant to Section 708 of the Corporations Act (Cth).
Highlights
- Firm commitments received to raise $1.15M through a share placement at an issue price of $0.025 (2.5 cents) which represents a 10.7% discount to the last closing price.
- Placement supported by new and existing shareholders
- Exploration activities on Broken Hill copper – cobalt targets to be accelerated following receipt of placement funds
The proceeds of the share placement will be used to accelerate exploration of copper – cobalt targets at the Company’s 100% - owned Broken Hill Project and provide for general working capital.
Commenting on the Placement, Rimfire’s Managing Director Mr David Hutton said:“We are thankful for ongoing shareholder support in this placement by new and existing shareholders.
In conjunction with funding from our scandium exploration partner – GPR, these placement funds will underpin a busy second half to the year, with maiden scandium JORC Resources planned for the Melrose and Murga scandium prospects, further metallurgical work for Melrose as well as diamond drilling of the Bald Hill copper - cobalt prospect at Broken Hill”.
Placement Details
The placement comprises the issue of a total of 45,800,000 fully paid ordinary shares at an issue price of $0.025 (2.5 cents) per share, raising $1.15M to sophisticated investors eligible under section 708 of the Corporations Act (Cth).
The issue price of the current placement represents a 10.7% discount to the closing share price on 28 June 2024 and a 150% premium to the issue price of the Company’s last placement (see Rimfire’s ASX Announcement dated 14 December 2023).
In addition, 15,266,665 free attaching unlisted options are being issued on a one (1) for three (3) basis, being one (1) free attaching unlisted option for every three (3) new shares subscribed for and issued under the placement with an exercise price of $0.05 (5 cents) each, and an expiry date of 31 December 2025.
The 45,800,000 placement shares will be issued under Rimfire’s existing ASX Listing Rule 7.1A placement capacity and the 15,266,665 unlisted options will be issued under Rimfire’s existing ASX Listing Rule 7.1 placement capacity.
The new shares will rank equally with existing Rimfire fully paid ordinary shares quoted on the ASX.
Settlement of the placement is expected to occur on or about Monday 8th July 2024 and shortly thereafter the Company will make an application to the ASX seeking quotation of the placement shares.
Click here for the full ASX Release
This article includes content from Rimfire Pacific Mining 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.
Winsome Receives MCS Grant from Government of Québec
HIGHLIGHTS
- Winsome’s subsidiary Lithium Winsome Adina Inc has been granted circa C$130,000 (A$146,000) by the Quebec Government
- The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals, overseen by the Quebec Ministry of Natural Resources and Forests.
- The grant will contribute towards the ongoing metallurgical testwork programme being conducted on samples from Adina.
- Testwork will inform the forthcoming project studies for Adina which are anticipated to be published in 2H 2024 and will include evaluation of the Company’s recent option to acquire the Renard Operation some 60km from Adina.
The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals (Programme de soutien à l’exploration minière pour les minéraux critiques et stratégiques 2021‑2024 in French or PSEM-MCS) which is overseen by the Quebec Ministry of Natural Resources and Forests (Ministère des Ressources naturelles et des Forêts or MRNF).
WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:
“We would like to thank the Gouvernement du Québec for the award of this grant towards our metallurgical testwork programme. We acknowledge the desire of the Quebec Government to develop the critical and strategic minerals industry within the province, including investigating the potential for downstream and other value-adding initiatives, and we are pleased that our Adina project has been recognised as one of the premier lithium development opportunities within Québec.
We are looking forward to this being the first of many collaborations between the Quebec Government and Winsome Resources as we progress the development of Adina for the benefit of key stakeholders within the region”
In March 2020, the Government of Quebec announced a five-year investment of $90 million to develop critical and strategic minerals (CSMs). In October 2020, it launched the Quebec Plan for the Development of Critical and Strategic Minerals 2020‑2025 (QPDCSM), to oversee the interventions to make Québec a leader in CSM production, processing and recycling, in partnership with regional and Indigenous communities. The PSEM-MCS is part of the QPDCSM and was established to provide assistance to CSM exploration projects, based on their contribution to CSM exploration in Québec and the quality of the exploration model.
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.
Unconformity Uranium Drill Targets Identified from 2024 Geophysical Data
Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to provide an update on the winter 2024 geophysical program that was conducted at the Marshall and North Millennium Uranium Projects (‘Marshall’, ‘North Millennium’ or the ‘Projects’), located in the southeastern part of the uranium-rich Athabasca Basin, refer to figure 3. The Southeastern Athabasca hosts some of the highest-grade uranium mines, with recent significant unconformity-related mineralisation discoveries occurring over the past few years1,2.
Key Highlights
- Final data received and interpretation completed for the ground electromagnetic geophysical surveys from the winter 2024 program at the Marshall and North Millennium projects.
- Several conductive anomalies identified at Marshall, located above and below the unconformity, consistent with regional exploration model.
- Stacked anomalies concurrently with multigenerational geophysical data provides a base to assess the exploration targets and refine drillhole targets.
- The projects are located 15 kilometres from the majority Cameco owned Millennium deposit, and just 40km from the world class McArthur River mine.
- Basin remains funded for the next round of field exploration.
The ground electromagnetic successfully identified 3 main targets which confirms the geological and exploration model. Of note is Target 1 (Figure 1), where modelled EM plates below the unconformity align with a sandstone ZTEM anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting. Basin is currently reviewing options and priorities of how to progress exploration of these confirmed targets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Conducting ground geophysical surveys on Marshall and North Millennium was a milestone in advancing these underexplored projects in Basin’s uranium portfolio. The form of these anomalies is highly encouraging given the proximity to some of the world’s largest uranium deposits.”
Key results
Following the encouraging conductive anomalism highlighted by the 2023 3D inversion of two historic airborne Electromagnetics (Z‐Tipper Axis) (“ZTEM”) datasets partially covering the current North Millennium and Marshall projects3,4, Basin contracted Discovery International Geophysics5 to carry out ground Stepwise Moving Loop Transient Electromagnetic (‘Ground EM’) surveys on areas of immediate interest within the Projects.
Figure 1 Three main anomalies shown from 2024 ground EM, in plan view (top diagrams) and cross- section looking northeast (bottom diagram). The ground EM anomalies are displayed with the modelled plates against the historical ZTEM data.
The 2024 Ground EM survey data returned six conductive anomaly picks producing three main target areas (Figure 1). The anomalies correlate strongly with the southern edge of the circular ZTEM conductive anomaly at Marshall and the interpreted northern edge of the circular anomaly identified in the historic data. A weaker EM pick was also interpreted centred between the two prominent ZTEM conductivity anomalies.
Three-dimensional modelling using Maxwell produced six electromagnetic conductive plates within the basement stratigraphy, all below the unconformity (Figure 1). The two southeastern plates are clearly aligning with a conductive sandstone ZTEM anomaly identified from the historic data, which is above the interpreted unconformity. This is interpreted as potential basal sandstone alteration proximal to the EM anomalies and constitutes a high-priority drill target area, refer figure 2.
Click here for the full ASX Release
This article includes content from Basin Energy, 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.
Airborne EM over Multiple Targets on Ti-Tree Project
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce that an airborne Versatile Time Domain Electromagnetic (VTEM) Max survey will be undertaken at three areas within the 3,600km2 Ti-Tree Project in the Gascoyne Region. The survey is scheduled for August.
- Augustus Minerals has contracted UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Zn-Pb-Ag and Uranium targets along the money Intrusion and within proximity of the prospective 85k long Ti-Tree Shear.
- The surveys will cover:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nics Bore over anomalous Copper Drilling results
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation.
- The Munaballya Well North area which shows potential for economic Uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
Andrew Ford, GM Exploration
“The VTEM survey will provide key targeting data over three highly prospective and different prospects with potential for multiple commodities. Whilst the high prospectivity for copper mineralisation has been well documented, the addition of uranium and Broken Hill base metal style mineralisation highlights the quality of the underexplored Ti-Tree project”.
VTEM
UTS Geophysics has been engaged to conduct a helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer. The transmitter/receiver loop is suspended on a cable approximately 40m below the helicopter (Figure 1).
Figure 1 VTEM Max helicopter deployed electromagnetic survey arrangement.
Figure 2 Prospects and VTEM Survey areas.
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). This extensive mafic intrusion, which is comprised of a variety of lithologies, including gabbro in the core, olivine dolerite on the chilled lower contact or keel and fine-grained dolerite on the outer edges. Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north of E09/23241.
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.
Kihabe-Nxuu Polymetallic Project Silver/Gallium Potential
In response to recent enquiries, Mount Burgess Mining Ltd (MTB:ASX, the “Company”) is pleased to update the silver potential of the Kihabe-Nxuu Project (“Project”) in Botswana. With the recent increase in silver prices and multiple forecasts predicting a structural deficit over the coming years, the importance of the silver content of the Project has increased substantially.
HIGHLIGHTS
- Kihabe Mineral Resource Estimate (21 million Tonnes at 2.0% ZnEq1) estimated to contain 5.4 million Oz of silver.
- Silver currently trading at or near 10-year highs at US$30 per Ounce2 (Figure 1)
- Estimated silver deficit of 215.3 million troy ounces in 20243
- Individual silver intersections at the Kihabe Deposit include:
- 7m @ 984g/t (31.6oz/t) from 97m incl. 1m @ 4,076 g/t (131oz/t) from 97m (KDD114)
- 7m @ 477g/t (15.3oz/t) from 63m incl. 1m @ 1,510 g/t (48.5oz/t) from 65m (KIH007)
- 50 holes in the SW domain, over a strike length of 550m, average 49.7g/t (1.6oz/t) Ag4
- 31 holes in the NE domain, over a strike length of 900m, average 63.67g/t (2.0oz/t) Ag5
- Metallurgical test work underway to determine onsite recovery of Gallium and Germanium not yet included in the Kihabe Mineral Resource Estimate. Kihabe Deposit has a large Exploration Target of up to 100 million tonnes @12 g/t Gallium.
- Gallium currently trading at US$811.2/kg6
The Kihabe Deposit has two significant silver domains with shallow high-grade intersections including 7m @ 984g/t from 97m and 7m @ 477g/t from 63m, previously announced in June 2021. The SW and NE domains require further infill and extensional drilling. The Company is taking this opportunity to update the market by releasing individual metres over 93g/t (3oz/t) in the following tables. Individual metres of 311g/t (10oz/t) and over, are highlighted in green. Refer to attached Figures outlined in Drill Section headings in the table to review the intersections from which the individual metres have been extracted.
The 6 million tonne Nxuu Mineral Resource Estimate, 7kms to the East of the Kihabe Deposit, contains a further 1,040,000 ounces of silver.
The Company is also undertaking metallurgical test work to determine the recovery of Gallium and Germanium onsite. Results will be released once available. Further drilling is required before the Gallium Exploration Target (refer ASX Release 6 July 2023) and Germanium can be included in the Kihabe Mineral Resource Estimate. Gallium and Germanium have been included in the Nxuu Mineral Resource Estimate.
Chairman of Mount Burgess Mining Mr. Nigel Forrester commented:
“The importance of the silver content of the Kihabe-Nxuu Project is supported by its recent significant price increase to 10-year highs. The Company sees this as being positive for the Project as the expectation is that silver demand will continue to increase due to the metal’s green technology use in solar panels, batteries and wind turbines.
The importance of the gallium content of the Kihabe-Nxuu project is also supported by its recent significant 272% price increase to US$811.2/kg since January 2020. The increase is primarily due to gallium nitride chips required to replace silicon chips not able to cope with the increase in heat generated from the increase in 5G communication traffic in computers, laptops and smart phones.”
Click here for the full ASX Release
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Registration Opens for the Inaugural Mining, Metals and the Circular Economy Conference
Early bird delegate passes are now on sale for the inaugural Mining, Metals and the Circular Economy conference, scheduled to take place at the ICC Sydney on 29 & 30 October 2024.
The launch of this event is timely, as circularity in the mining and metals industry is important for reaching net-zero goals and global decarbonisation, while also addressing the rising demand for minerals required for future technologies and other vital materials.
Organised by Beacon Events, the Mining, Metals and the Circular Economy conference will be co-located with the International Mining and Resources Conference (IMARC), providing attendees with unprecedented access to industry experts and thought leaders in the mining sector, fostering a dynamic exchange of innovative ideas and best practices. What sets this conference apart is that it is the world’s first and only event to explore the global context of process and product circularity throughout the mining industry’s value chain.
Sherene Asnasyous, Event Director at Beacon Events, explained that the strategic development of Mining, Metals and the Circular Economy is about helping mining companies, as well as their customers, partners, and suppliers, better comprehend their roles within the circular value supply stream.
“As a powerful tool to reduce waste and pollution, circularity needs to be a priority for mining producers and their supply chains. It is also crucial for meeting the growing demand for minerals needed for new technologies, construction, and other industries, as it extends the lifespan of metals beyond their initial use. We encourage companies involved in the mining value chain to join us in this forum to explore ways to reduce waste at all stages of a mine site’s lifecycle and capitalise on the economic benefits of extracting valuable materials from waste and metals recycling,” Ms. Asnasyous said.
The introduction of Mining, Metals and the Circular Economy to the mining value chain's events calendar offers businesses a focused and in-depth opportunity to implement circular economy practices as a solution to address the current environmental and supply chain challenges faced by the industry.
“Mining, Metals and the Circular Economy is a valuable opportunity for industry players to come together because no single organisation has all the solutions to applying circularity to their business operations. It requires diverse insights and skills, as well as collaboration, to help find better ways to mine and be more resource efficient. The conference program features international and local experts from leading mining companies, consultancy firms, industry associations, and academia. Our speakers will cover a range of important topics including mine rehabilitation, waste commercialisation, policy and regulation, recycling metals, and circularity tracking and reporting,” Ms. Asnasyous said.
Alan Young, Senior Advisor at Circular Economy Leadership Canada and a panellist on Day 1 of the conference, underscores the importance of implementing circular economy principles across all participants in the minerals value chain.
"With the minerals-intensive reality of the green energy transition, there is an urgent imperative to re-invent the way we access and use metals, from the mine site to their end use in cars, batteries, computers and renewable energy systems. An integrated circular economy framework allows all participants in minerals value chains to contribute to the vision of a zero waste/zero carbon approach to these vitally important materials, while creating a massive economic benefit for society,” Mr. Young emphasised.
Gustavo Roque, General Manager – Future Use at Vale in Brazil, another international speaker headlining the conference, is looking forward to presenting on reclaiming post-mining landscapes to leverage social, economic and natural assets.
“My participation in the event will facilitate valuable exchanges of ideas and foster collaborations that can propel the industry toward more sustainable and efficient practices. Engaging with global experts and leaders at these events aligns perfectly with our objectives to redefine the mining landscape through innovation,” Mr. Roque said.
Other notable presenters and panelists at Mining, Metals and the Circular Economy include:
- Petar Ostojic, Founder, Centre Innovation and Circular Economy (Chile)
- Ashleigh Morris, Co-Founder, Coreo
- Dr. Helen Degeling, Project Acquisition Manager, Cobalt Blue Holdings
- Associate Professor Anita Parbhakar-Fox, Group Leader - Mine Waste Transformation through Characterisation, Sustainable Minerals Institute
- Julian Treger, President, Chief Executive Officer & Director, CoTec (Canada)
- Dr. Ana Fernandez-Iglesias, Director Sustainable Mining Portfolio, ArcelorMittal Mining R&D (Spain)
- Graham Arvidson, Chief Executive Officer, Australian Vanadium Ltd
- Andree Henríquez, Chief Executive Office, CircularTec (Chile)
- Allan Morton, Executive Director, enviroMETS Qld
- Katharine Hole, Chief Executive Officer, Association for the Battery Recycling Industry Australia
- Megan Jones, Co-Founder, Circular PV Alliance
- Lina Goodman, Chief Executive Officer, Tyre Stewardship Australia
In addition to the conference, there will be a supplier showcase allowing delegates to source the latest products and services that can help them transition to circular business models.
Early bird delegate passes are now available and can be purchased at miningcircularity.com.
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Photos to accompany the media release can be found here.
About Mining, Metals and the Circular Economy
The inaugural Mining, Metals and the Circular Economy conference is an invaluable platform for industry stakeholders to gain a comprehensive understanding of the role, impact and benefits of a circular economy across the entire mining value chain. Taking place alongside International Mining and Resources Conference (IMARC) on 29 and 30 October, this is the world's first and only conference with discussions on the global context of both process and product circularity in the mining industry’s supply chain. Mining companies of all sizes and their suppliers and customers will benefit from the conference to better understand the roles they play in a circular value supply stream.
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