The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
CLA hits 611.4m @ 1.39% copper and 0.75g/t gold at MCB
July 03, 2022
Celsius Resources Limited (“Celsius” or “the Company”) is pleased to announce it has received outstanding large scale and high-grade assay results from the ongoing drilling program at its flagship MCB copper-gold project, held under its Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”).
Highlights
- Intersection of 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m (1.67% CuEq*).
- Multiple internal higher-grade results confirmed:
- 150.85m @ 1.90% copper and 1.57g/t gold from 207.15m (2.55% CuEq*),
- 234.45m @ 1.90% copper and 0.87g/t gold from 391.55m (2.22%CuEq*) and,
- 77.55m @ 2.47% copper and 2.12 g/t gold from 232.10m (3.34%CuEq*)
The results are in line with other recent drilling results from holes MCB-036 and MCB-037 (see CLA announcements dated 13 December 2021 and 23 May 2022, respectively) confirming the presence of an extensive shallow higher-grade position. MCB-038 continued on further to confirm and expand the position of two additional higher-grade zones which have a horizontal orientation within a larger and broader lower grade envelop.
The results from MCB-038 were designed to improve the confidence level of the existing Mineral Resource in addition to focusing on defining further higher-grade positions for the purpose of enhancing the feasibility study.
Celsius Executive Chairman, Mr. Martin Buckingham said:
“The results from MCB-038 are exceptional, and we believe reflect the quality of the MCB deposit.”
“We still have a few more diamond drill holes to come which are planned to further define the shallow and easy to access higher-grade copper at MCB. The drilling results over the past 6 months have identified important additions to copper mineralisation and we are looking forward to understanding the impact of these results as we move into our JORC Update resource estimate and feasibility studies in the second half of this year.”
“These large intersections have substantial gold credits to result in very high CuEq values after allowing for the estimated recoveries of both the copper and gold.”
*The reporting of copper equivalent values (CuEq) was based on long term predicted copper prices of US$4.0lb, gold price of US$1,695/oz, and with copper and gold recoveries of 94.2% and 79%, respectively as defined in the reported Scoping Study for the MCB Project (see CLA announcement on 1 December 2021). Assumed copper and gold price predictions will vary with market conditions and this will be re-evaluated in future feasibility studies.
MCB COPPER-GOLD PROJECT
The MCB Copper-Gold Project (MCB) is located in the Cordillera Administrative Region in the Philippines, approximately 320 kilometres north of Manila (Figure 1). It is the flagship project within the Makilala portfolio which also contains other key prospects in the pipeline for permit renewal/extension.
A maiden JORC compliant Mineral Resource Estimate was declared for the MCB Project in January 2021, comprising 313.8 million tonnes @ 0.48% copper and 0.15 g/t gold, for 1.5 million tonnes of contained copper and 1.47 million ounces of gold, of which 290.3 million tonnes @ 0.48% copper and 0.15 g/t gold is classified as Indicated and 23.5 million tonnes @ 0.48% copper and 0.10 g/t gold is classified as Inferred.
A Scoping Study for the MCB Project was announced by CLA on 1 December 2021, which identified the potential for the development of a copper-gold operation with a 25-year mine life. The scoping study was based on an underground mining operation and processing facility to produce a saleable copper-gold concentrate.
Highlights from the Scoping study include a Post tax NPV (8%) of US$464m and IRR of 35%, assuming a copper price of US$4.00/lb and gold price of US$1,695/oz. Initial capital expenditure is estimated to be US$253m with a payback period of approximately 2.7 years. The designed mine production is matched to a 2.28Mtpa processing plant which will treat ore with an estimated average grade of 1.14% copper and 0.54g/t gold for the first 10 years of planned production with a C1 cash costs at just US$0.73/lb copper, net gold credits.
Figure 1. Location of the MCB Project in the province of Kalinga, Northern Luzon, Philippines.
RESULTS FROM MCB-038
Drill hole MCB-038 was drilled to further confirm the interpretation that further shallow high grade positions exist as a relatively flat body extending into the surrounding host rocks and away from a genetically related Tonalite Intrusive rock (see Figures 2 and 3).
This drill hole was positioned to also intersect the previously defined deeper high-grade positions which are also interpreted to have a near to horizontal orientation. The high-grade positions exist within a larger lower grade envelope of lower grade copper mineralisation which is near to vertical in orientation and striking around 50 degrees from due north.
The geological observations in the drill core in addition to the assay results received have confirmed that there exists a number of higher-grade positions as predicted.
Figure 2. Location of MCB-038 drill Hole relative to recent and historical diamond drilling at MCB.
The broader interpreted envelope of the copper mineralisation is also substantially large with almost the entire intersection containing copper mineralisation above a lower cut-off of approximately 0.2% Cu.
The higher-grade positions are reported to a nominal cut-off of approximately 0.5% copper. The significant intersections based on the assay results received from MCB-038 are detailed in Table 1. MCB – 039 has been terminated 409.3 meters on July 1st with core preparation and assaying currently ongoing. This hole was designed to further extend and confirm the potential position of shallow higher-grade copper mineralisation which could enhance the planned scoping studies for the MCB deposit.
Click here for the full ASX Release
This article includes content from Balkan Mining (ASX:BMM), 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.
22h
Burrendong Minerals Limited IPO
Impact Minerals Limited (ASX:IPT) is pleased to announce that the Prospectus for an Initial Public Offering of Burrendong Minerals Limited (proposed ASX code: BIG) is now available at the following page on Impact’s InvestorHub:
https://impactminerals.com.au/burrendong-priority-offer and at https://www.burrendongminerals.com.au/
- The Prospectus for an Initial Public Offering (IPO) of shares in Burrendong Minerals Limited, who have the right to earn an interest in Impact’s highly prospective Commonwealth project in the prolific Lachlan copper-gold province in New South Wales, is now available.
- Impact’s shareholders have a priority entitlement of $2 million in the IPO and all shareholders and other interested parties are encouraged to review the prospectus.
- Burrendong will issue shares at 20 cents per share with a one-for-two free attaching option exercisable at 25 cents within 36 months of listing. Enterprise Value of $4.3 million on listing.
- Should Burrendong list on the ASX, Impact will retain a 49% interest in Commonwealth and receive a cash payment of $275,000. It will also be the largest shareholder in Burrendong with a 12.5% shareholding. Burrendong may acquire a further 24% interest in the Commonwealth Project by expending $5 million within three years of listing.
- Burrendong is to own all or a share of three resources at Commonwealth, Silica Hill and Galwadgere that are all open at depth and along trend and which will be the focus of a fully permitted significant drill programme to commence shortly after listing.
- The resources contain a combined 120,000 ounces of gold, 3.3 million ounces of silver and modest tonnages of copper, zinc and lead.
- High-grade drill results from previous work to be followed up in the drill programme include:
Main Shaft: 5.7 metres at 3.8 g/t gold, 347 g/t silver, 10.8% zinc and 3.7% lead including 0.5 metres at 4.9 g/t gold, 917 g/t silver, 10.2% zinc and 4.6% lead.
Commonwealth South: 8 metres at 5.1 g/t gold, 20 g/t silver, 1.3% zinc and 0.5% lead including 0.5 metres at 34.3 g/t gold, 40 g/t silver, 5.8% zinc and 2.3% lead; and 4 metres at 41.8 g/t gold (1.3 ounces per tonne), 93 g/t silver, 5.5% zinc and 2.3% lead.
Silica Hill: 22.5 metres at 1.7 g/t gold and 276 g/t silver; including 0.3 metres at 1.8 g/t gold and 4,200 g/t (135 ounces or 0.42%) silver; and also including 0.8 metres at 13.6 g/t gold and 40 g/t silver.
Galwadgere: 53 metres at 0.55% and 0.75 g/t gold, including 6 metres at 1.0% copper and 2.15 g/t gold; and 5 m at 1.98% copper and 3.9 g/t gold.
Impact Minerals Managing Director Dr. Mike Jones stated, “The Burrendong Minerals IPO presents an exciting opportunity to participate in one of Australia’s most prolific mineral belts—the Lachlan Copper-Gold Belt in New South Wales, which is home to major deposits like Cadia-Ridgeway and recent discoveries such as Boda-Kaiser. Once listed, Burrendong will take control of our exceptionalCommonwealth gold-silver-copper project, which has been on hold due to our focus on the Lake Hope High Purity Alumina project. It is appropriate for Burrendong to conduct further exploration with Impact to maintain a significant interest in both the new company and the project. Burrendong’s maiden drill program will target extensions to known high-grade resources, particularly the very high- grade massive sulphide bodies found at Main Shaft. We have always believed that Main Shaft has strong similarities to the world-class Eskay Creek Project in British Columbia’s Golden Triangle, one of the world’s premier mining sites. This belief is why we have made an effort to retain a significant interest in the new company and the project. I encourage all shareholders and other interested parties to review the Burrendong prospectus on our InvestorHub.”
Burrendong is looking to issue 25 million shares to raise $5 million at $0.20 per share with a free one- for-two attaching option exercisable at 25 cents within 36 months of listing. The funds will be used to explore a prospective tenement package in the prolific Lachlan copper-gold belt in New South Wales, including Impact’s Commonwealth Project under a share sale agreement. This agreement also provides Impact shareholders with a priority entitlement of $2 million, as detailed at the end of this report (ASX Release March 19th 2024).
If Burrendong lists on the ASX, Impact will receive a cash payment of $275,000, a 12.5% shareholding in Burrendong, and a 49% interest in Commonwealth. Within three years of listing, Burrendong can earn a further 24% interest in the project by spending $5 million (ASX Release March 19th, 2024).
Burrendong will have an Enterprise Value of $4.3 million on listing should the minimum amount of $5 million be raised.
About Burrendong’s Projects
Subject to listing, Burrendong will hold tenements covering 675 km2 in the heart of the Lachlan Fold Belt, home to numerous world-class copper-gold mines, such as Cadia-Ridgeway (>30 Moz of gold and > 10 Mt copper), North Parkes (5.5 Moz gold and 4.5 Mt copper), and Cowal (>15 Moz gold). Recent discoveries have also attracted attention to the region, particularly the Boda-Kaiser copper-gold porphyry deposit (8.3 Moz gold and 1.5 Mt copper) located adjacent to Commonwealth (Figure 1).
Burrendong will control three resources, all of which comply with the JORC 2012 Code and contain 120,000 ounces of gold, 3,300,000 ounces of silver, and 30,250 tonnes of copper (Figure 2). The resources are at Commonwealth Mine and Silica Hill, part of the Commonwealth project, and Galwadgere, located 10 km along the trend to the south of Commonwealth (Figure 1). On listing, Burrendong will purchase a 100% interest in Galwadgere from Sky Metals Limited (ASX Release: SKY July 14th 2023).
Click here for the full ASX Release
This article includes content from Impact 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.
Keep reading...Show less
20 November
British Columbia Creates New Ministries for Energy and Mining
British Columbia (BC) has introduced two new ministries designed to focus on advancing its goals for clean energy and critical mineral development.
Premier David Eby announced on November 18 the restructuring of the former Ministry of Energy, Mines, and Low Carbon Innovation, which will now be split into the Ministry of Energy and Climate Solutions and the Ministry of Mining and Critical Minerals.
The changes reflect the province's commitment to addressing climate change and seizing opportunities in critical mineral production to support the global energy transition.
Under the new structure, the Ministry of Energy and Climate Solutions will oversee BC’s energy policies to ensure its alignment with climate goals, specifically under the Paris Agreement. The Climate Action Secretariat, which coordinates the province’s climate initiatives, will also now operate under this ministry. Adrian Dix, previously responsible for health, will lead it.
The ministry will manage the electricity, alternative energy and petroleum resource sectors, while also working to expand the province's electricity and low-carbon energy projects. This will include oversight of major projects such as the North Coast Transmission Line and BC Hydro’s Capital Plan.
Meanwhile, the Ministry of Mining and Critical Minerals, led by Jagrup Brar, will focus on enhancing the province's mining capabilities, particularly in critical minerals like copper, lithium and rare earth elements.
BC’s focus on critical minerals aligns with global trends as the demand for materials such as lithium is projected to grow significantly, driven by the transition to low-carbon energy systems. These materials are essential for the renewable energy infrastructure critical for the ongoing energy transition, as well as technologies such as lithium-ion batteries and electric vehicles.
Government data suggests that copper demand could double by 2050, creating opportunities for BC to attract investment and generate employment, particularly in rural areas.
Brar, who previously served as Minister of State for Trade, is expected to prioritize regulatory reforms and streamline project approvals. The ministry will oversee the advancement of 17 critical mineral projects and work to modernize the Mineral Tenure Act to meet regulatory requirements, including Indigenous consultation standards.
The provincial government sees the critical minerals sector as a driver for economic growth and a contributor to North American energy security goals. However, it has acknowledged the need to address environmental concerns and Indigenous rights as part of the development process.
The creation of a dedicated mining ministry has been welcomed by industry leaders. The Association of Mineral Exploration and the Mining Association of British Columbia (MABC) view the restructuring as a step toward attracting investment and addressing long-standing issues such as permitting delays and regulatory uncertainty.
Michael Goehring, CEO of MABC, stated that the new ministry offers an opportunity to modernize regulations and ensure environmental standards are upheld.
“Recognizing the urgent need to modernize and speed mine permitting, the NDP platform committed to guaranteed permit review timelines while maintaining environmental and safety standards,” he added.
Keerit Jutla, president of the Association of Mineral Exploration, emphasized the significance of streamlining permitting processes and the importance of meeting guaranteed timelines for reviews.
“In order for BC to realize its full potential as a natural resource leader, a whole-of-government approach will be needed to ensure it is built holistically, and representative of all of B.C., urban and rural,” Jutla said.
With more than 1,100 exploration and mining companies headquartered in Vancouver, British Columbia is a hub for the global mining industry.
The province’s ability to meet domestic and international demand for critical minerals is expected to bolster its economy and position it as a leader in sustainable resource development.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
20 November
Rio Tinto's Ongoing Fight Against Workplace Harassment
Rio Tinto's (ASX:RIO,NYSE:RIO,LSE:RIO) latest review on workplace culture has revealed an increase in reports of harassment and bullying across its global operations, highlighting challenges in the company’s ongoing efforts to implement cultural reforms.
The findings of the 2024 Everyday Respect report, part of a two-year external Progress Review led by former Australian Sex Discrimination Commissioner Elizabeth Broderick following the first Everyday Respect Report, draw attention to the broader complexities of achieving cultural change in a diverse and global organization.
The review incorporated extensive feedback, with over 11,600 contributions from employees and contractors globally. Broderick's team conducted surveys, listening sessions and site visits across Rio Tinto’s operations in countries such as Mongolia, Canada, the United States, New Zealand and Australia.
While Rio Tinto has implemented all 26 recommendations from the first Everyday Respect Report, the data underscores the need for continued vigilance, presenting a complex picture of progress and persistent harmful behaviors within the workplace.
The portion of respondents who experienced bullying in the previous 12 months rose from 31 percent in 2021 to 39 percent in 2024. While the portion that experienced sexual harassment held at 7 percent, eight respondents said they experienced actual or attempted sexual assault or rape, an increase from five in 2021.
Prevalence of sexual harassment was highest for those working in the iron ore and copper product groups, and
Despite the troubling statistics, the review also notes improvements, including greater employee confidence in the company’s ability to create meaningful change and a notable cultural shift towards more open discussions on workplace respect.
Survey results showed that around half of respondents perceived improvements in workplace behavior, with 47 percent reporting that sexual harassment had improved and 46 percent reporting the same for racism.
However, harmful behaviors persist, and the report indicates that women remain disproportionately affected. A greater portion of women in the company's mining workforces experienced bullying, and women were more likely to report experiencing multiple incidences of bullying than men.
Broderick, who conducted the review, noted that resistance to cultural change within the organization remains a challenge. Instances of gendered bullying appear linked to perceived opposition against diversity initiatives.
The report emphasizes that such resistance is common in large-scale reform efforts but reaffirmed the importance of sustained focus to ensure positive change across all levels of the organization.
Building on the recommendations from the 2022 iteration, Rio Tinto is advancing its long-term strategy to address these challenges by outlining new measures to further its cultural transformation efforts.
These include expanding employee engagement initiatives and listening sessions through its employee resource groups and village councils. Another key area of progress is streamlining reporting mechanisms for employees experiencing workplace misconduct and increasing transparency in resolving such cases.
Training programs are also being redesigned, with a focus on raising awareness about harmful behaviors and fostering accountability. The company aims to have over 90 percent of employees and contractors complete this training by the end of 2025.
Despite the challenges, approximately two-thirds of employees expressed confidence in Rio Tinto's ability to foster meaningful change over the next few years. Broderick pointed out that while certain behaviors persist, early indicators suggest that Rio Tinto’s efforts are laying a robust foundation for long-term transformation.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
20 November
Impact Receives $512,000 from Research and Development Rebate
Impact Minerals Limited (ASX:IPT) is pleased to announce that it has received a rebate of $512,000 before costs from the Research and Development Tax Incentive scheme for the financial year ending June 2024.
These funds will be used to continue the Pre-Feasibility Study on Impact’s flagship Lake Hope High Purity Alumina (HPA) Project, which is scheduled for completion in Q1 2025. They will also contribute to the accelerated start of the recently announced research and development project in conjunction with CPC Engineering and Edith Cowan University to help build a pilot plant for the Lake Hope Project. The project will also be funded by the recently announced grant of $2.87 million under the Federal Government’s CRC- P programme (ASX Releases October 22nd, 2024, and November 18th, 2024).
Impact’s Managing Director, Dr Mike Jones, said,“The unique mineralogy and patented and proprietary processing techniques for the Lake Hope High Purity Alumina project have allowed us to claim back a significant proportion of our expenditures on it through the R and D Tax Incentive programme and this will be the case moving forwards. The funds will be put towards the Lake Hope Pre-Feasibility Study and the start of our exciting research project with CPC Engineering and Edith Cowan University to build a pilot plant to produce HPA from the clays at Lake Hope. The end result will likely be one of the most cost effective feasibility studies in the industry”.
The company would like to thank Ernst and Young and Kate Griffiths, in particular, for their help preparing the R and D applications over the past nine years.
Click here for the full ASX Release
This article includes content from Impact 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.
Keep reading...Show less
19 November
Bald Hill Confirmed as a High-Grade Cobalt Opportunity
Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that all remaining drill assays have now been received for a step out diamond drilling program completed during the September 2024 Quarter at the 100% - owned Bald Hill Cobalt Copper Prospect which is located approximately 30 kilometres west of Broken Hill, NSW (Figure 1).
Highlights
- Further high-grade cobalt sulphide mineralisation returned from step out diamond drilling 30km west of Broken Hill at Rimfire’s 100% - owned Bald Hill prospect;
- 18m @ 0.16% Co, 0.16% Cu from 110m in FI2612 including 5m @ 0.21% Co, 0.23% Cu
- 29m @ 0.17% Co, 0.10% Cu from 67m in FI2613,
- 17m @ 0.16% Co, 0.11% Cu from 152m in FI2613,
- 16m @ 0.16% Co, 0.11% Cu from 173m in FI2613,
- 63m @ 0.18% Co, 0.08% Cu from 118m in FI2614, including 11m @ 0.21 % Co, 0.1% Cu and 9m @ 0.22% Co, 0.09% Cu,
- 21m @ 0.15% Co, 0.07% Cu from 211m in FI2614,
- 31m @ 0.12% Co, 0.07% Cu from 129m in FI2615. including 10m @ 0.14% Co, 0.08% Cu and 13m @ 0.14% Co, 0.08% Cu,
- Rimfire’s drilling to date indicates that Bald Hill hosts some of the highest-grade cobalt mineralisation in the Broken Hill district
- Strong copper anomalism associated with the cobalt highlights the significant copper potential at Bald Hill
Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “The latest drilling has substantially expanded the known sulphide hosted mineralised footprint at Rimfire’s 100%-owned Bald Hill cobalt-copper prospect to over 500m by 200m in area.
We continue to intersect some of the highest-grade cobalt sulphides in the district and the presence of associated copper highlights the potential to find significant copper mineralisation at Bald Hill with further drilling.
While Bald Hill remains open and there are plenty of other cobalt targets to follow up, we are mindful of the current cobalt commodity prices and believe enough work has now been completed to demonstrate the prospect’s significance, which can be leveraged when commodity prices improve in the future.
We will continue to assess the Broken Hill Project but only at a level of activity that doesn’t detract from the company’s flagship Fifield scandium assets, which represent the strategic and commercial priorities for the Company and its shareholders right now.”
Bald Hill diamond drilling results
Cobalt mineralisation and associated copper anomalism at Bald Hill occurs within a folded and faulted sulphide-bearing quartz - albite psammopelitic composite gneiss unit which broadly dips to the east and is underlain by a barren quartz – potassium feldspar gneiss.
Cobalt and copper are associated with disseminated to semi massive sulphides (pyrite – pyrrhotite +/- chalcopyrite) that are locally brecciated, and silica altered.
5 diamond holes (FI2612 – FI2616 / 974 metres) were drilled through August and September 2024 to test for extensions of previously drilled high-grade cobalt (Co) mineralisation at Bald Hill, e.g., 33m @ 0.11% Co from 58 metres in FI2469 including 4m @ 0.23% Co and 2m @ 0.21% Co, and 125m @ 0.13% Co from 198 metres in FI2470 including 97m @ 0.15% Co (see Rimfire’s ASX Announcement dated 8 Augst 2024).
Each of the new drillholes intersected multiple broad zones (downhole widths) of sulphides 100 – 300 metres away from Rimfire’s previous high-grade drill intercepts (see Table 1 for drill hole specifications) with assay results returning (Figures 2 and 3);
- 2m @ 0.37% Cu from 63 metres in FI2612,
- 29m @ 0.12% Co from 66 metres in Fi2612,
- 18m @ 0.16% Co, 0.16% Cu from 110 metres in FI2612 including 5m @ 0.21% Co, 0.23% Cu
- 29m @ 0.17% Co, 0.10% Cu from 67 metres in FI2613,
- 20.6m @ 0.13% Co, 0.09% Cu from 96.4 metres in FI2613,
- 17m @ 0.16% Co, 0.11% Cu from 152 metres in FI2613,
- 16m @ 0.16% Co, 0.11% Cu from 173 metres in FI2613,
- 63m @ 0.18% Co, 0.08% Cu from 118 metres in FI2614, including 11m @ 0.21 % Co, 0.1% Cu and 9m @ 0.22% Co, 0.09% Cu,
- 6m @ 0.14% Co, 0.08% Cu from 185 metres in FI2614,
- 21m @ 0.15% Co, 0.07% Cu from 211 metres in FI2614,
- 9m @ 0.14% Co, 0.04% Cu from 129 metres in FI2615,
- 31m @ 0.12% Co, 0.07% Cu from 129 metres in FI2615, including 10m @ 0.14% Co, 0.08% Cu and 13m @ 0.14% Co, 0.08% Cu,
- 1m @ 0.11% Co, 0.09% Cu from 74 metres in FI2616,
- 1m @ 0.12% Co, 0.06% Cu from 83 metres in FI2616, and
- 1m @ 0.14% Co, 0.05% Cu from 97 metres in FI2616.
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.
Keep reading...Show less
19 November
Québec's Copper Resource Offers New Opportunities for Investment
As the global journey toward electrification and decarbonization continues to ramp up, Canada’s role as a geopolitically stable source of the key minerals enabling this transition is increasingly evident, driving the need for the development of new and sustainable copper supply across the country.
In 2022, Canadian mine production accounted for approximately 2.4 percent of the global total, which stood at around 22 million metric tons. BC currently leads the nation in copper production, followed by Ontario, which produced approximately 159,432 metric tons of copper in 2022.
Québec, Canada's second largest province, is emerging as a significant player in the global copper industry. With its rich geological formations and strategic location, Québec offers substantial opportunities for copper exploration and mining.
This comprehensive analysis delves into the province's copper resources, exploring the geological settings, copper deposits, economic significance and the current state of the industry.
Analysts at BHP (ASX:BHP,NYSE:BHP,LSE:BHP) estimate that global copper demand will grow 70 percent to more than 50 million metric tons per year by 2050, driven by the metal’s multiple applications and the looming supply crunch as existing copper mines age out of production and fewer new mines come online. The need for stable supply chains is creating a platform for new jurisdictions to emerge and enter the copper supply market.
Québec's current copper landscape
Québec is emerging as a promising contender in Canada's copper industry, with its rich geological formations and favorable mining regulations attracting investments from both domestic and international mining companies.
The province’s unique geological features make it a prime location for copper mineralization. The province is home to several key areas rich in copper resources, including the Lac Doré Complex and the Opemiska deposit. The Lac Doré Complex’s distinctive stratigraphy is predominantly composed of thick anorthosite and gabbro units, showcasing a complex lopolith structure.
The Opemiska deposit, meanwhile, stands out as Canada's highest-grade open-pit copper deposit, boasting resources exceeding 1 billion pounds of copper with a grade of approximately 0.78 percent copper. This exceptional grade makes it a highly attractive prospect for mining companies and investors alike.
Another notable area is the Corner Bay deposit, which offers high-grade copper-gold resources. These geological formations contribute significantly to Québec's potential as a major copper producer on the global stage.
Historical context
Québec's copper-mining history dates back to the mid-1920s, when initial copper and gold discoveries were made in the northwestern part of the province. These discoveries led to the establishment of mining towns like Rouyn and Noranda, marking the beginning of Québec's journey in the copper industry. The town of Chibougamau was established in 1952, and numerous copper and gold mines were developed along the shores of Lac Doré and Lac Chibougamau.
A significant milestone came in 1947 with the formation of the Gaspé Copper Mines. The company commissioned its processing plant in 1955 and expanded operations in 1968 to exploit larger, lower-grade reserves. This expansion played a crucial role in boosting Québec's copper production and establishing its reputation in the global market.
The largest past-producing mine in the Lac Doré region, however, was the Copper Rand mine, which is now owned by Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF). The mine operated from 1959 to 2008 and extracted 16.45 million metric tons at an average grade of 1.8 percent copper and 2.8 grams per metric ton gold.
Falconbridge's underground mines also made a substantial impact on production during this period, further solidifying Québec's position in the copper-mining sector.
Regulatory environment
As the copper industry in Québec continues to grow, it faces increasing scrutiny regarding environmental protection and regulatory compliance. The province has implemented several measures to ensure responsible mining practices, including the regulation respecting the regulatory scheme for environmental impact.
Bill 63, which proposes amendments to Québec's Mining Act, aims to enhance transparency, improve land use coordination and strengthen Indigenous rights. These changes also include enhanced environmental protection measures, reflecting the growing emphasis on sustainable mining practices.
Companies operating in Québec must also comply with environmental and social impact assessment requirements, and adhere to the James Bay and Northern Québec Agreement when operating in relevant territories.
Current state of copper exploration
Today, Québec's copper industry is thriving, with several notable companies leading exploration and efforts. The Opemiska Project, operated by QC Copper and Gold (TSXV:QCCU,OTCQB:QCCUF), has an updated resource estimate that highlights the region's potential. The project boasts a total global resource of 2.24 billion pounds at 0.94 percent copper equivalent.
Another significant development is the revival of the Gaspé copper mine. Osisko Metals (TSXV:OM,OTCQX:OMZNF) has acquired the property and is actively engaged in exploration activities, expanding the known copper mineralization at Mount Copper.
Doré Copper, being acquired by Cygnus Metals, is making strides in the Chibougamau area, consolidating a large land package and progressing with various projects aimed at tapping into the region's rich mineral resources. Doré Copper’s hub-and-spoke strategy is centered around its flagship high-grade copper Corner Bay deposit, leveraging its unique advantage of owning the only mill in the area, while benefiting from supportive communities and existing infrastructures.
Azimut Exploration (TSXV:AZM,OTCQX:AZMTF), while primarily known for gold exploration, is also involved in copper exploration across Québec. The company's diversified approach contributes to the overall development of the province's mining landscape.
Glencore (LSE:GLEN,OTC Pink:GLCNF), a global leader in commodities trading and mining, maintains a significant presence in Québec's copper industry. The company's operations are expected to grow as global demand for copper increases, particularly in the green energy sector.
Prospects and challenges
The future of Québec's copper industry looks promising, driven by technological advancements and growing global demand. Innovations such as coarse particle recovery, sulfide leaching and machine learning for process optimization are enhancing the efficiency and sustainability of mining operations.
Global copper demand is projected to double by 2035, primarily driven by the renewable energy and electric vehicle sectors. This surge in demand presents significant opportunities for Québec's copper industry to expand and thrive.
However, the industry also faces challenges. These include navigating complex regulatory frameworks, addressing environmental concerns and ensuring effective community engagement. Companies must balance economic growth with environmental stewardship to ensure long-term sustainability.
Strategic exploration initiatives, such as collaborations between companies like Midland Exploration (TSXV:MD) and BHP, are paving the way for future discoveries and developments in Québec's copper sector.
Key takeaway
Québec's copper resources represent a golden opportunity for investment and economic growth.
The province's rich geological settings, high-grade deposits and supportive business environment position it as a key player in the global copper market. As the world transitions towards green energy solutions, Quebec's copper industry is poised to play a crucial role in meeting the increasing demand for this essential metal.
While challenges exist, the future outlook for sustainable copper mining practices in Québec remains positive. With continued investment in exploration, technological innovation and responsible mining practices, Québec is well positioned to capitalize on its copper resources and contribute significantly to the global supply chain.
For investors and mining companies alike, Québec's copper industry offers a compelling opportunity to be part of a growing and vital sector that is essential to the future of sustainable technology and infrastructure development.
This INNSpired article is sponsored by Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Doré Copper Miningin order to help investors learn more about the company. Doré Copper Mining is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Doré Copper Miningand seek advice from a qualified investment advisor.
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.