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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Basin Energy (ASX:BSN) is pleased to announced its mining exploration entity or oil and gas exploration entity quarterly cash flow report.
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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.
NSW Critical Minerals Strategy welcomed by industry
‘We have got the metals and minerals the world needs and NSW is open for business’
New South Wales Minerals Council CEO Stephen Galilee has welcomed the release of the NSW Government’s Critical Minerals Strategy, saying it comes at an important time for the mining sector in the state.
Galilee said the strategy confirmed the NSW Government’s vision for NSW to become a global leader in critical minerals production and identified important steps forward, including increased support for exploration, improvements to the state planning system and investment attraction efforts, and more access to relevant federal government funding and programs.
A A$250 million royalty deferral initiative could assist critical minerals projects, the NSWMC said.
“It’s pleasing that this strategy prioritises a range of specific actions to be undertaken over the short to medium term, and the medium to long term,” Galilee said.
NSW Government officials said the state’s new Critical Minerals and High-Tech Metals Strategy was aimed at fostering investment in “12 ready-for-investment critical minerals mining and processing projects” that could create about 4600 construction jobs and 2700 operational roles.
The projects currently need about $7.6 billion of capital investment.
The government said its royalty deferral scheme was an opt-in plan that allowed for deferral of the first five years of royalties. It targeted critical minerals projects that could start production between mid-2025 and mid-2030, primarily mine commodities from the federal government’s Critical Minerals List, and had owners with a market value under $5 billion.
“While it will be important to see some more details on several of the key initiatives, the high level whole-of-government commitment and general direction outlined in this strategy is welcome,” Galilee said.
“The NSW Government’s commitment to the sector stands in stark contrast to a federal government that blocks NSW mining projects based on secret whispers and public murals.”
The NSWMC said 13 mines in the state currently produced critical minerals and at least three more were fully approved and currently seeking combined investment of more than $3 billion.
A further three potential projects were under assessment in the NSW planning system and six others were preparing EIS applications.
“Mining is a vital industry for NSW,” Gallilee said.
“The sector provides around 40,000 direct jobs and supports tens of thousands more jobs, including almost 7000 mining supplier businesses across the state, while also providing NSW with its most valuable export commodities.”
NSW premier Chris Minns said: “We have got the metals and minerals the world needs and NSW is open for business. We are sending a clear message to Aussie and global miners: invest in NSW.”
IMARC: Over a Decade of Shaping Mining’s Most Important Discussions and Driving Innovation
Sydney, Australia: The International Mining and Resources Conference (IMARC), now in its 11th year, is seen by industry leaders as one of the world’s most important forums for shaping critical discussions and driving innovation across the global resources sector.
Michelle Ash, Vice President Growth at BHP, says IMARC has successfully positioned itself over the last decade as the premier platform where industry leaders, governments, innovators and stakeholders come together to address challenges and unlock new opportunities in the mining and resource sector.
“I have attended IMARC every year since it started, because it is the best forum to understand what is happening in the mining industry and who is leading the pack. Whether you are part of a mining company, supplier, startup, government or just someone interested in the industry, you will find something for you.”
This sentiment is echoed by the Jake Klein, Executive Chairman of Evolution Mining, who says: “Over the past decade IMARC has facilitated an annual forum for important and thoughtful conversations about our industry and its future. This creates opportunities for shared learning and mutual success.”
IMARC’s Role in Shaping Industry Discussion
Since its inception, IMARC has framed critical conversations that influence the trajectory of the mining industry. By hosting thought leadership panels, keynote addresses and workshops with the most senior industry figures, IMARC has fostered in-depth dialogues on critical topics, including sustainability, digital transformation and future growth strategies. These discussions have not only set the tone for industry-wide initiatives but have also spurred meaningful partnerships and innovation across – and beyond – the sector.
“Over the past 11 years, IMARC has been instrumental in bringing the global community together to discuss both immediate challenges and long-term goals. This event has provided a unique space for experts and leaders to share knowledge and collectively shape the future of the industry,” according IMARC Chief Operating Officer, Anita Richards.
Simon Troeth, Manager Government and Industry Affairs at Newmont, says: “IMARC helps Newmont connect with industry peers, stay abreast of the latest developments and hear from other global mining leaders on best practice and fresh perspectives. As the world’s largest gold miner and a substantial producer of copper and other metals, forums like IMARC create a larger arena for the contest of ideas so we can learn from each other and build a bigger and better picture of our operating environment.”
Kimberley Lim, Field Marketing, Mining Division at Hexagon and a long-time IMARC participant, says: “I have been involved in IMARC nearly from its inception and have seen its growth to become Australia’s leading industry event. The focus was clear from the outset: to become the platform for important industry discussion. The IMARC team is incredibly passionate about connecting key mining leaders, technology partners, and the broader mining ecosystem to work towards a sustainable mining future, both in terms of ESG and the continued longevity of the industry as a whole.”
Instrumental in Achieving Core Business Objectives
For many organisations, IMARC serves as a catalyst in driving core business objectives. From unveiling cutting-edge technology to forming international partnerships, companies have leveraged the conference to align their strategies with industry trends. As a result, many organisations have achieved significant progress in areas such as operational efficiency, sustainability, and workforce development.
Ms Lim emphasises the unique dual role of IMARC in shaping the future of mining: “IMARC is a platform to share and learn from each other. When a conference like this brings in the heavy-hitters and industry thought-leaders into one place, we all benefit from the collective. Secondly, IMARC is well-positioned as the leading technology conference for the mining industry, allowing us to collaborate with like-minded customers and partners who are instrumental in our technology development.”
Global Leaders Driving Industry Solutions
One of IMARC’s greatest strengths is its ability to bring together leading figures from not just mining, METS and finance, but other across the globe, including space exploration, AI and robotics. This access to world-leading experts has accelerated the identification and implementation of solutions to the mining sector’s most pressing challenges.
Mr Troeth notes: “As the global mining industry moves to reduce its environmental impact, embrace new technologies and support local communities, IMARC continues to play a crucial role in showcasing best practice, challenging industry thinking and encouraging new perspectives. IMARC drives insightful conversations and valuable reflections on responsible mining and how mining can continue to meet the growing and changing needs of modern society.”
IMARC is also an important marketplace, with resource-rich countries using it to showcase their capabilities and opportunities to collaborate and invest. This is exemplified by Canada's approach to IMARC, with John Williams Trade Commissioner Mining Sector at Global Affairs Canada saying the event is a valuable opportunity to showcase Canada’s attraction as an investment destination.
“IMARC allows us to present our solutions to make mining more efficient, sustainable, and smart on an international stage,' he said. 'It attracts key investors by offering a competitive value proposition and showcases the role of leading mining nations in driving the future of the industry. IMARC’s global reach amplifies these opportunities, making it an essential event for those seeking to understand and invest in the next generation of mining advancements."
As the industry pushes toward decarbonisation, IMARC has been an important forum for nations such as Canada to showcase how the mining sector benefits from competitive tax policies, free-trade agreements, and strong government support and accelerated the development and deployment of sustainable technologies.
Accelerating Conversations on First Nations Engagement and Diversity
While the rights and roles of First Nations communities have become critical issues for the mining industry globally in recent years, IMARC has been championing these global challenges since its first meeting in Melbourne 11 years ago.
As the 2024 program shows, IMARC puts these important conversations around First Nations engagement and diversity in the workplace front and centre on the conference program. These discussions have not only highlighted the importance of inclusivity but have also accelerated the implementation of initiatives aimed at fostering stronger relationships with Indigenous communities around the world and, more broadly, promoting greater inclusion and diversity in the workforce.
CEO of the Australia-Latin America Business Council, Kim Prior notes: “We are delighted with the way IMARC has consistently pushed for dialogue around First Nations engagement and diversity. The world can learn a lot from the policies and strategies put in place throughout Central America to help break the cycle of disadvantage with First Nations communities. By spotlighting these topics, the event has encouraged companies and government to adopt world-best practices that are more inclusive, respectful, and beneficial for all stakeholders.”
Ms Lim says: “I am very aware there has been deliberate and considerable effort to improve the engagement and diversity of our First Nations stakeholder groups. This is reflected in the conference agenda and promotions on social media.”
As IMARC enters its second decade, it remains committed to driving positive change and shaping the future of the mining and resources industries. The conference continues to evolve, ensuring that the discussions, innovations, and collaborations that take place today will lead to a more sustainable and prosperous future for the sector.
For further information or interviews with speakers contact the IMARC Media Team at pr@imarcglobal.com
Two years of toil has us at new tech tipping point: A conversation with ABB’s Joachim Braun
‘We cannot wait for the perfect solution when we have the tools to make a real difference today’
“A green mining industry is not science fiction”, industrial technology giant ABB said earlier this year, pointing to the role it’s been playing in electrifying and automating energy-intensive mining processes for more than a century. Today’s technology presents even more actionable net zero emission pathways, according to ABB Process Industries division president, Joachim Braun.
Speaking with Mining Beacon editor Richard Roberts ahead of this year’s International Mining and Resources Conference and Expo (IMARC), Braun says a new ABB mining survey and report highlights a high level of industry planning to achieve significant net-zero transformation over the next five years.
The report will be a focus of an exclusive executive roundtable at IMARC, where industry leaders will converge to discuss strategies for achieving net zero emissions by 2030.
Richard Roberts: Next year is your 30th with ABB? Congratulations on your career so far.
Joachim Braun: Thank you. It’s been an incredible journey with ABB and the rapid pace of change in our industries is especially exciting.
Richard Roberts: It seems like technology has been over the past decade, or is about to be, transformative for engineering, manufacturing and other companies and industries. I read in the latest ABB Review how the company’s eMine simulation tools are enabling advanced mine fleet and power/renewable power integration simulation and modelling. How would you characterise the way in which these tools are changing the way you interact with customers, and how quickly has this happened?
Joachim Braun: Technology has been transformative, particularly in mining, and the eMine Simulation Solution is a great example. It allows customers to simulate renewable energy integration, fleet operations and power systems, optimising efficiency before making investments.
This data-driven approach is a game-changer, enabling customers to model scenarios, mitigate risks and optimise operations.
Today, ABB is seen as a strategic partner to the mining industry, providing not only technology but deep expertise to guide customers through their energy transition.
Richard Roberts: In terms of your partnerships with top-tier mining and metals clients, how deeply embedded are these solutions? How central are they to shaping current and future alliances?
Joachim Braun: Our mining systems and solutions are deeply embedded in our partnerships with customers and others in the industry. But it’s not just about technology, it’s about building strong relationships with mining companies, OEMs and technologists. Collaboration is key because it allows us to bring expertise together and ensure the solutions we develop are aligned with real-world challenges. Our partnerships, like those with Perenti and IGO, evolve based on market conditions and shared goals.
Richard Roberts: You have talked in various forums and media about how quickly mining/metals is evolving as a technology adopter, among the process industries you deal with. Off a low base, it must be said. Which technologies do you see as being the most impactful in the sector in the next five years, from a “double materiality” perspective? How impactful will they be?
Joachim Braun: Mining is at a pivotal point and technologies like electrification, automation and digitalisation will have the greatest impact.
For example, our Gearless Mill Drives (GMD) are key for scaling copper production, which is critical for the energy transition. Integrating clean energy and AI-driven optimisation will enable the industry to extract more while reducing environmental impact, focusing on both sustainability and efficiency.
While mining has been slower to adopt certain technologies we’re seeing a shift.
A report which ABB will soon release, based on insights from 412 experts, shows that 53% of mining professionals are planning significant transformation in the next five years.
This is a unique opportunity for mining to leapfrog older stages of digitalisation and implement the most advanced solutions available today. ABB plays a key role in helping companies lay the automation foundation needed for this transition.
Richard Roberts: Mining, generally, is having to build more infrastructure to access remote deposits. It is moving more material to access lower grade, deeper deposits. This is not the way minerals/metals will help reshape the world’s energy, transport and urban landscapes, particularly with demand for primary minerals and metals climbing. Using more information, as others have said, can enable you to use less of other inputs … “More bits and bytes and not more kilos and litres”.
How optimistic are you that we get to that world soon enough? Why?
Joachim Braun: As surface deposits deplete and ore grades decline, mining is increasingly moving deeper underground and processing more material for the same yield. This requires smarter solutions. Mine hoists, like those we’ve installed at BHP, are critical for accessing these deeper deposits sustainably. They provide an automated, electrified alternative to truck haulage, which is inefficient at great depths. For example, at BHP, our hoist increased production from 4.5 to 6.5 million tonnes annually while lowering emissions. This shows how automation and electrification can optimise operations and reduce environmental impact.
I’m optimistic that we can achieve the energy transition in time, but it requires collective action and the right approach.
This isn't the first energy transition, but it’s one we must get right. We already have many of the technologies needed, though they are only now reaching the scale and capacity required for the future.
Take electrification. ABB electrified the first mine hoist in the 1890s, but clean energy wasn’t feasible back then. Today we’re seeing the potential of technologies like lithium-ion batteries which, despite their progress, are still in their infancy compared to more established industries.
Success depends on collaboration across the entire supply chain. Miners are leading the way but we need open partnerships, breaking down silos to drive real progress. Only by working together can we achieve our goals and create a sustainable future.
Richard Roberts: You’ve talked a lot about the need for, and power of, collaboration. ABB is working with mining and metals customers, and with mining OEMs/service companies such as FLSmidth, Perenti and Komatsu.
Joachim Braun: Electrification in mining, once thought impossible, is now a reality and a key part of the industry’s push towards sustainability.
Today, no globally-focused mining company can ignore electrification. It's essential to meet 2030-2050 energy transition targets. ABB’s solutions, like the eMine Trolley System, have helped customers reduce diesel consumption by up to 90%, showing how quickly we can decarbonise operations.
Collaboration with partners like FLSmidth, Perenti and Komatsu has been vital in driving these innovations. While site operators focus on productivity and equipment availability, decarbonisation is becoming a shared goal, enabled by technology.
Richard Roberts: You said, with the recent Komatsu announcement, collaboration across the mining industry had “already been proven to enable real and faster progress and we look forward to driving what happens next”. What are the best examples, in your view, of where “real and faster progress” has occurred where we would not have otherwise seen such progress?
Joachim Braun: Electrification and automation have been game-changers in improving safety and efficiency, especially in remote and harsh mining environments.
A great example is the eMine Robot Automated Connection Device (ACD), developed with Boliden, BHP, and Komatsu. This automated, high-power truck charging system eliminates the need for human intervention, maximising machinery uptime and boosting site productivity.
Another example is our automated robotic remote blasting loader, which just won gold at the Euromines Safety Awards 2024. Developed with Boliden, LKAB and explosive suppliers, this technology automates the dangerous process of charging blasting holes, improving safety by removing workers from hazardous environments.
These innovations wouldn’t have progressed as quickly without strong collaboration, proving the power of partnership in driving real progress.
Richard Roberts: What do you hope “happens next” by way of a “difference to the way mining companies operate their sites in the near future”?
Joachim Braun: In the near future I hope to see mining companies fully embrace the opportunities presented by electrification, automation and digitalisation.
Over the past two years working with eMine we’ve gained invaluable insights from collaborating with customers and partners. We now have a clearer understanding of where the mining industry stands in terms of technology adoption and are better equipped to tailor our solutions.
Looking ahead, automation and digitalisation will be crucial for addressing challenges like sustainability and workforce evolution. These technologies will not only optimise operations but also make mining a more attractive and inclusive industry. The focus is now on implementing these changes quickly and effectively.
With the right approach we can drive positive change across the sector.
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.
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