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Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is pleased to provide an update to the market regarding the ongoing exploration activities at the West Spargoville Project (“WSP” or “Project”). The WSP Project is a JV between Marquee Resources (75%) and Mineral Resources Limited (ASX:MIN) (25%).
The Company has engaged Thomsons Airborne Pty Ltd to complete a 2,258 line-km airborne magnetic and radiometric survey over the Project extents, with the survey expected to commence on the 14th of September. The aim of the geophysical survey is to map in high-resolution geophysical anomaly patterns related to structures and stratigraphy that could host potential lithium bearing pegmatites. Following the completion of a 37,843m reverse-circulation (RC) and aircore (AC) drilling campaign in Q4-2022, the Company and Mineral Resources geologists have been busy interpreting and modelling the data to delineate priority targets for follow-up work. The acquisition of high-resolution geophysics will greatly enhance the understanding of the subsurface and guide the planning of the next drill campaign.
Following completion of the airborne magnetic and radiometric survey and processing of the geophysical survey data, the Company, in conjunction with Mineral Resources Limited (ASX:MIN), will provide an update with future work plans.
Executive Chairman Comment:
Marquee Executive Chairman, Mr Charles Thomas, commented:
“The Marquee and Mineral Resources teams have been working diligently together to try and uncover the next lithium deposit in one of the world’s premier lithium districts. This airborne magnetic and radiometric survey will assist the teams in gathering valuable information on the WSP Project and help generate further targets for our next drilling campaign.”
The West Spargoville Project
The West Spargoville Project is located in the core of the Southern Yilgarn Lithium Belt, an area that is well known for spodumene deposits that include; the Bald Hill Mine, the Mt Marion Mine, the Buldania Project and Essential Metals Pioneer Dome Project. Marquee and Mineral Resources entered into a JV agreement earlier this year over the lithium rights at the West Spargoville Project (refer ASX Release dated 09 June 2023).
Figure 1: Airborne magnetic and radiometric survey plan – WSP E15/1743
Click here for the full ASX Release
This article includes content from Marquee 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.
MQR:AU
Red Cloud Announces Fall Mining Showcase 2024 Agenda
Red Cloud is excited to announce its annual Fall Mining Showcase, scheduled for October 16-17, 2024, at the Sheraton Centre Toronto Hotel. This flagship event will feature over 90 resource companies, including CEOs, high-net-worth and institutional investors, highlighted by an engaging keynote agenda.
The mining industry is experiencing renewed optimism, particularly with producers posting record profits on the back of rising commodity prices. This momentum along with growing support of clean energy initiatives lead by nuclear power should bode well for sentiment at this year's showcase.
Founded by capital markets professionals with extensive experience in the junior mining sector, Red Cloud offers a unique platform that helps companies navigate growth opportunities through expert guidance and innovative financial solutions.
"Our event provides an exceptional opportunity for investors to engage with industry experts, explore a diverse range of commodities, and gain valuable insights into the macro themes shaping the industry," said Bruce Tatters, CEO of Red Cloud Securities. "We are committed to fostering these connections while highlighting junior mining companies."
Keynote presentations from industry leaders listed below:
Wednesday, October 16, 2024
- Joe Mazumdar, Editor, Analyst & Publisher, Exploration Insights
- Pierre Lassonde, Chairman Emeritus & Co-Founder, Franco-Nevada Corp.
- Rob McEwen, Executive Chairman & CEO, McEwen Mining
Thursday, October 17, 2024
- Ron Bernbaum, Founder and CEO, PearTree Securities Canada
- Kendra Johnston, P.Geo, MBA, Managing Director, PearTree Securities Canada
- Abigail Hunter, Executive Director, SAFE's Ambassador Alfred Hoffman Jr. Center for Critical Minerals Strategy
- Uranium Investor Session - Presented by TMX Group
Visit our website to register to attend, request 1x1 meetings and learn more about the conference: https://redcloudsecurities.com/fallminingshowcase2024/
Red Cloud would like to thank our partner, PearTree Securities, and all additional sponsors.
For additional information and inquiries, please contact our events team: marketing@redcloudsecurities.com
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is a CIRO-regulated investment dealer focused on providing a full range of brokerage services to all investor types focused in the junior resource sector. Our services include Investment Banking, Research, Institutional and Retail Trading, Institutional Sales, Retail Investment Advisory services, and Corporate Access.
About Red Cloud Financial Services Inc.
Red Cloud Financial Services Inc. is a globally focused capital markets advisory firm that provides a full range of executive strategy and execution in the digital media, production, and distribution. Our breadth of services combines our significant knowledge of the junior mining industry with a unique product offering. The company was founded by capital markets professionals with extensive experience in the junior mining industry.
For additional information, visit:
www.redcloudfs.com
https://x.com/RedCloudFS
www.linkedin.com/company/red-cloud-financial-services-inc
https://www.youtube.com/@RedCloudTV
www.instagram.com/redcloudfs
www.redcloudsecurities.com
https://x.com/RedCloudSec
https://www.linkedin.com/company/red-cloud-securities/
Assays Confirm High-Grade Manganese Discovery at Wandanya
HIGHLIGHTS
- Significant high-grade manganese assays received for the W2 prospect1, Wandanya located 80 km south of the Woodie Woodie Manganese Mine including:
- 5m @ 33.2% Mn from 4m including 2m @ 48.7% Mn (WDRC032)
- 5m @ 33.2% Mn from 1m including 2m @ 44.1% Mn (WDRC031)
- 5m @ 32.4% Mn from 4m including 2m @ 3G.6% Mn (WDRC027
- 6m @ 27.7% Mn from 3m including 2m @ 42.G% Mn (WDRC013)
- The stratabound mineralisation shows remarkable thickness and grade consistency over 240m of drilled strike and remains open to the east and north where the Company has mapped 1.75km of intermittent high grade outcropping manganese
- W2 is interpreted as stratabound, fault related hydrothermal manganese enrichment representing a significant new exploration model on the eastern margin of the Oakover Basin.
- Metallurgical testwork planned to produce a high-grade Mn concentrate as a feedstock for alloying or high purity manganese sulphate (HPMSM)
Black Canyon’s Managing Director Brendan Cummins said:
“The laboratory-based assay results have confirmed the significant high-grade intercepts for the W2 prospect. I am impressed by the consistency of the grades and thickness of the manganese horizon we have discovered and the higher-grade intervals over 40% Mn. What is really appealing about this target from an exploration and resource delineation perspective is the benefit of a consistent mineralised horizon that is also associated with hydrothermal grades. I am excited by the upside of this new style of mineralisation as we plan our follow-up exploration programs to assess 1.75km of strike to the north and the potential of the manganese horizon to extend to the east.”
Figure 1. W2 Prospect, RC drill bags from WDRC031 in the foreground
W2 Prospect, Wandanya (BCA 100%)
The W2 prospect was drilled on an approximate 40 x 40m grid testing a 240 long x 200m wide target. This drill program comprised 35 holes for 642m of drilling. Drill collar information is presented in Appendix 2.
Expedited Assay Results
Initially, six RC holes were sampled for expedited assays, generating 38 one metre interval samples that were gathered along the eastern boundary of the stratabound mineralisation. Representative holes were sampled from every second line along the drilled strike of 240m. On each drill line, the last two eastern holes were sampled from depths between 4m and 9m, which included stratabound mineralisation and portions of the lower grade footwall and hangingwall.
The results are presented in Table 1, which show consistent zones of mineralisation with the bottom 2m for each intersection typically returning high grade mineralisation potentially suitable for direct shipping (DSO).
Click here for the full ASX Release
This article includes content from Black Canyon, 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.
Gallium Mineralisation Discovered in Rock Chip Samples from the May Queen South Bauxite Project, Queensland
Highlights
- Significant levels of the semiconductor elements gallium (Ga) and germanium (Ge) identified within the May Queen South Bauxite resource.
- Significant elevated gallium results returned averaging 67.59 g/t Ga over 12 random samples with an assay high of 145.5 g/t Ga.
- The May Queen South Bauxite Project (EL 16260 and EPM 16261) has a JORC (2012) Inferred Mineral Resource Estimate of 54.9Mt at 37.5% total Al2O3 and 5.2% TiO2 and 7.9% Rx SiO2.
- The project is located <55km from existing rail infrastructure with connections to the Port of Bundaberg.
Market summary
Gallium prices have surged in recent years, primarily due to increased demand in the electronics and semiconductor industries (Graph 1). Uses of Ga include the manufacture of compound semiconductor wafers that are used in integrated circuits and optoelectronic devices including laser diodes, light-emitting diodes (LEDs), photodetectors, and solar cells. Gallium's unique properties, such as its low melting point and ability to form useful compounds, makes it a critical element with applications spanning various industries, particularly in advanced technology and electronics.
The global gallium market is heavily dominated by China, with other countries playing much smaller roles. Currently China produces approximately 98% of the world's supply of raw gallium1.
Recent market disruptions including the entry of price inelastic demand 2 and Chinese export controls in August 2023 has seen a doubling of prices since 2021 when gallium was priced at $422.70 per kg, the current price represents a 115.12% increase3
Graph 1. Gallium price worldwide from January 2018 to January 2024 (Source: www.statista.com)
May Queen South Bauxite project
The May Queen South Bauxite project is located in central Queensland, within a short trucking distance of a rail system leading north to the Port of Bundaberg. It is also located within close proximity of the main Queensland Rail network heading south towards the Port of Brisbane.
Figure 1. Location of EPM 16260 and EPM 16261 shown together with theCompany’s adjacent May Queen gold tenements (EPM19419 and EPM27746)
The Project has a JORC 2012 Inferred Mineral Resource estimate of 54.9Mt at 37.5% total Al2O3 and 5.2% TiO2 and 7.9% Rx SiO24 (refer to announcement dated 30 May 2023).
Click here for the full ASX Release
This article includes content from Australasian Metals 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.
8500N Paleochannel Drilling Commences
- ~3,000m Reverse Circulation (RC) drill program at the 8500N Paleochannel (8500N) has commenced targeting shallow high-grade mineralisation where legacy and recent drill intersections include:
- 2m @ 46.7 g/t Au from 13m incl. 1m @ 92.6g/t Au from 14m (SPRB0064)
- 3m @ 10.7g/t Au from 16m incl. 1m @ 29.0g/t Au from 16m (SPAC0204)
- 2m @ 22.4g/t Au from 15m incl. 1m @ 43.5g/t from 15m (SPAC0261)
- 1m @ 51.1g/t Au from 16m (SPAC0068)
- 4m @ 8.99g/t Au from 12m incl. 1m @ 34.7 g/t Au from 13m (SPAC0279)
- 13m @ 1.59g/t Au from 11m incl. 4m @ 3.49g/t Au from 11m (PCRC003)
- Staged infill RC drill program designed to improve geological confidence of the 8500N Paleochannel while testing along strike and mineralisation extending into the underlying saprolite zones.
- 8500N is located on granted mining tenements, with significant mine infrastructure and completed environmental Flora and Fauna baseline studies, reducing the mine approval timeline.
- 8500N Paleochannel represents a low-cost, low-risk production opportunity due to its shallow high-grade gold mineralisation (average 15m below surface) and free-digging qualities of the mineralised paleo gravels and overburden material.
The first stage of the drill program consists of ~100 RC holes (~3,000m) designed to improve the geological confidence of the shallow paleochannel, while testing for potential extension of mineralisation in the saprolite zone beneath the paleochannel, as identified during the initial drill program (ASX announcement 18 September 2024). Several drill traverses will also be undertaken to test for extension along strike to the south (Figure 1). The complete drill program is designed to be completed in several stages to ensure optimal drilling effectiveness.
8500N Paleochannel
The 8500N Paleochannel is located within a granted mining tenement, between the Company’s Wattle Dam Gold Mine and the underlying 8500N gold deposit (Figure 2). Paleochannels are remnants of ancient rivers or stream channels that have been buried by younger sediments. Paleochannels can contain concentrations of high-grade alluvial gold that accumulate over millions of years and are generally shallow and flat-lying with free-digging qualities (not requiring drill and blasting) of the mineralised paleo gravels and overburden material, which can provide significant economic advantages.
Maximus’ 8500N is situated within the Lefroy Paleodrainage System, a significant ancient drainage network in the Eastern Goldfields region that contains several well-known paleochannel gold deposits such as Neptune, Africa, and Mandilla. The mined Neptune and Africa paleochannel deposits, part of Gold Fields Limited (JSE:GFI) St Ives Gold Camp, had a reported mineralised thickness of 1-3 metres recovering ~87,000 oz at 3.32 g/t Au. Similarly, Astral Resources’ NL (ASX:AAR) Mandilla paleochannel, which is situated ~2 km east of 8500N (Figure 2), was mined between 2006-2007, producing approximately 23,000 oz at 7.5 g/t Au from a ~600-metre long paleochannel with a mineralised thickness of 1-4 metres. The proximity of the 8500N Paleochannel to these established deposits, highlights the prospectivity of the region, as paleochannels within the Lefroy Paleodrainage System have consistently proven to be productive sources of gold.
The shallow 8500N mineralisation is located between 5 and 20m below the surface, gradually dipping to the south along two separate interpreted trends, with a strike length of approximately 450m. Legacy drilling across the flat- lying paleochannel has shown known mineralisation thickness ranges from 1 to 4m, with several key markers of the paleo gravels to assist in effective mining.
Currently, no JORC-compliant gold resources are defined for the 8500N paleochannel. However, recent drilling has revealed gold mineralisation extending beyond the limits of legacy drilling, indicating strong potential for significant expansion of the previously defined mineralised zone (ASX announcement 18 September 2024).
Figure 1 – Maximus’ 8500N Paleochannel mineralisation wireframes with the phase 1 (Black) and planned phase 2 (Grey) drill collars.
A third party has held the 8500N Paleochannel area under a Special Prospecting License (SPL) (Figure 2), which has restricted Maximus from assessing the potential of the 8500N gold resource and 8500N paleochannel. No exploration work, excluding a small scout drill program, has taken place in the 8500N area since 2014. On the surrender of the SPL (ASX announcement 5 September 2024), Maximus can now progress unencumbered to re- evaluate the mineral resources of both the Paleochannel and 8500N deposit.
Click here for the full ASX Release
This article includes content from Maximus 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.