- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- 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
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- 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
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Gidji JV Exploration Update
Drilling Returns 44g/t from Significant 125m Down-Dip Extension of Known Mineralisation
Exceptional result from first hole of maiden surface drilling program highlights the immense scale and scope to grow high grade Labyrinth deposit
Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to announce that the first hole of the 3,000m maiden surface exploration program at its flagship Labyrinth Gold Project in Quebec, Canada has delivered a high-grade result grading up to 44g/t from significant 125m down dip of the currently defined Front-West lode.
Key Points
- Partial assays received for first surface hole at Labyrinth has returned an outstanding intersection 125m down-dip of the currently defined Front-West lode, with assay result of:
- 2.2m @ 10.67g/t from 143.5m including 0.5m @ 44.12g/t and
- 1.0m @ 7.43g/t from 147.8m in hole LABS-22-01A as part of a broader mineralised interval of 8.1m @ 4.05g/t from 143.5m
- Visual quartz and pyritic mineralisation observed in LABS-22-01A and hole 2 (LABS-22-02) indicates mineralisation extends down dip for at least a significant 375m
- Visual intersections reveal typical Labyrinth style mineralisation and indicate a significant extension to the many defined lodes, both at depth and along strike, and a potentially substantial step change in project scale
- Labyrinth only shallowly drilled in comparison to other significant projects in the region which are host to multi-million ounce deposits (refer Figure 2)
- Assays pending on remainder of hole 1 and hole 2, hole 3 of 3,000m program currently underway
- All assays from underground drilling received; Maiden JORC Mineral Resource Estimate on track for release in current quarter
Figure 1 – Maiden surface exploration targeting mineralisation extensions to depth of up to ~700m below surface
Assays are pending for the remainder of hole LABS-22-01A and for all of LABS-22-02, with drilling of LABS- 22-03 underway.
Quartz and pyritic mineralisation characteristic to Labyrinth has been observed across multiple lodes, indicating the mineralisation extends up to ~375m down plunge and to a depth of ~550m below surface.
Labyrinth Chief Executive Matt Nixon said: “To hit 44g/t in the first hole is an outstanding start to our surface drilling program. And we are highly encouraged by what we see in the second and third holes.
“We now eagerly await results for the rest of the surface campaign, which will test vertical lode extensions down to approximately 700m and across the majority of the 1.6km strike.
“At the same time, we are completing the maiden JORC resource estimate, which is set for release later this quarter.
“To consider that we are only just beginning to test the comparatively shallow extents of this highly prospective gold system in the prolific Abitibi Belt is very exciting.”
Figure 2 - Significant Gold Projects within 100km radius of Labyrinth1
Labyrinth Exploration Update
The maiden surface diamond drilling program at Labyrinth Gold Project commenced in late June 2022 and consists of approximately 3,000m across 5 holes targeting extension of the known resource mineralisation to depths of up to ~700m across ~1.2km of the currently defined 1.6km in strike.
Click here for the full ASX Release
This article includes content from Labyrinth 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.
Labyrinth Resources Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Labyrinth Resources
Overview
Gold is a long-time favorite store-of-value asset to hedge against global turmoil. Investors have several ways to invest in the precious metal, whether buying bullion, investing in gold ETFs, or buying stock in mining companies. While there are gold deposits worldwide, Australia and Canada remain strong producers of the metal, ranking as the world’s second and fifth-largest gold producers, respectively.
Labyrinth Resources (ASX:LRL) is a junior mining company with underexplored gold assets in tier 1 jurisdictions of Quebec and Western Australia, including the Labyrinth Gold project located in the heart of the Abitibi Gold Belt. The asset has not received significant exploration or development attention for more than 15 years, creating tremendous upside potential.
Labyrinth Resources is exploring its Comet Vale property in Western Australia, which has historically produced over 180,000 ounces (oz) of gold with mining only going to a 250-meter depth. Multiple gold mineralized trends are present across the tenure as well as significant nickel and copper anomalies that have not been followed up. Recent work done by Ardea Resources (ASX:ARL) shows the project is prospective for significant Lithium-Caesium-Tantalum (LCT) pegmatites. The Walter Williams formation hosts Ardea’s KNP containing 854Mt at 0.71 percent nickel (Ni) and 0.045 percent copper (Co). High-grade Ni laterite intersections with proximal high Cu rock chips suggest there is nickel sulphide potential on the Comet Vale property.The Labyrinth Gold project has an inferred mineral resource of 3 million tons (Mt) @ 5 g/t for 500,000 oz (at 3 g/t.m cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off) and high grades of up to 62.5 g/t and widths up to 16 meters received across five individual lodes from maiden drilling. In 2022, Labyrinth announced outstanding metallurgical results from its comprehensive test work which demonstrate a clear, efficient processing pathway for its 500,000 oz Labyrinth Gold project. The company achieved an outstanding recovery through the gravity/flotation flowsheet, returning a low mass pull, high value 96 g/t gold concentrate at 97.3 percent recovery.
Labyrinth also completed a surface diamond drilling campaign at the Denain gold prospect, with a total of 4,018 meters drilled from 22 holes. The company has received all assays which confirmed the presence of two high-grade gold veins with associated copper that remain open in all directions. In December 2022, Labyrinth commenced an extensive exploration campaign at its Comet Vale Gold-Copper-Nickel project in Western Australia. The program is the first genuine surface exploration undertaken at Comet Vale in 15 years.
The company is well-positioned to acquire 100 percent ownership of the Labyrinth Gold Project from G.E.T.T Gold (TSXV:GETT). The final installment of the revised agreement is due for payment on September 29, 2023.
The company has an experienced, lean management team with a record of success in the natural resources industry. The team comprises mine engineering, geology, corporate administration, and international law experts, building confidence in Labyrinth’s ability to capitalize on its promising assets. In a current global environment desperate for genuine underground operational expertise, the Labyrinth team possesses the required skill set to leverage into value-accretive operating mine opportunities.
Company Highlights
- Labyrinth Resources is a junior mining company with an underexplored gold asset on the Abitibi Gold Belt in Quebec and a highly prospective multi-commodity project in the Yilgarn Craton of Western Australia.
- Quebec is a globally recognized tier 1 mining jurisdiction with strong government and community support.
- The project’s current inferred mineral resource of 3 million tons (Mt) @ 5 grams per ton (g/t) for 500,000 ounces (oz) (at 3 g/t.meters cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off) and high grades of up to 62.5 g/t and widths up to 16 meters received across five individual lodes
- The company’s project is surrounded by prolific mining companies with multi-million-ounce gold deposits, with testing of the Labyrinth deposit barely scratching the surface in comparison to the deep nature of many Abitibi gold operations.
- Comet Vale lies within the prospective Menzies mining area, well-located on the Goldfields highway 100km north of Kalgoorlie.
- There is significant high-grade, multi-lode gold production across the tenement package and under-explored multi-commodity potential
- A combined open pit and underground Indicated and Inferred Minerals Resource of 619,000t at 4.8g/t for 95,710oz
- The Comet Vale UG resource is estimated to be 56,233oz at 7g/t (2.5g/t cut-off) and the open pit resource as 39,477oz at 3.3g/t (0.5g/t cut-off)
- The mineralised shear is open at depth and north and south of the the 5km
- Multiple lodes on the tenement package in historic workings have not been explored below 50-100m
- A management team with a proven track record of success in the natural resources industry adds value to the company. It creates confidence in its ability to fully capitalize on its projects.
Key Projects
Comet Vale Project
The company’s Comet Vale project is located 100 kilometers north of Kalgoorlie. It hosts extensive high-grade gold with existing underground development and infrastructure. The project is surrounded by historic high-grade gold mines with past production from the Sand Queen and Sand George mines totaling 181,000 oz @ 23 g/t with multiple other high-grade satellite deposits.
Drilling at the Comet Vale commenced in March 2023 with an initial 20 holes covering 1,500 meters. The program was designed to test extensions to known mineralization of the high-grade Sovereign Trend. High-grade assays were received and significant results from this program include:
- 5 meters @ 15 g/t gold from 46 meters including 2 meters @ 35.6 g/t from 49 meters in hole CVRC23_008
- 3 meters @ 11.41 g/t gold from 46 meters in hole CVRC23_007
- 2 meters @ 15.53 g/t gold from 126 meters including 1m @ 25.56 g/t from 127 meters in hole CVRC23_016
The Sovereign Trend has an updated high-grade JORC 2012 mineral resource estimate that laid the foundation for further growth:
- Combined open pit and underground indicated and inferred mineral resource of 619,000 tons @ 4.8 g/t gold for 95,710 oz
- Underground resource of 56,233 oz @ 7 g/t (2.5 g/t cut-off)
- Open pit resource of 39,477 oz @ 3.3 g/t (0.5 g/t cut-off)
- Notable high-grade indicated mineral resource component of 42,000 oz @ 10 g/t gold (above 5 g/t gold cut-off)
Compilation of historic results and mapping is in progress, which expands upon the Sovereign Trend and has validated the extensive gold prospectivity still existing below 50m depth across the tenement package.
The Labyrinth Gold Project
The company’s flagship project sits on the Abitibi Gold Belt and has neighbors with multi-million-ounce gold deposits. However, the asset has not received significant exploration attention for the past 15 years. Only one 400-meter hole was drilled in that timeframe, leaving much of the asset untouched by modern exploration technologies. Fortunately, the asset contains a pre-existing and accessible underground mine, significantly reducing upfront development costs.
Project Highlights:
- Multimillion-ounce Potential: Recent exploration campaigns have identified targets for follow-up drilling that indicate targets with ideal historical intersections of multiple lodes. The company has completed maiden underground and surface exploration campaigns in 2022 to facilitate delivery of the maiden JORC estimate and demonstrate high-grade mineralization continuity at increasing depth.
- Updated Resource Estimate: JORC 2012 compliant inferred mineral resource of 3 Mt @ 5 g/t for 500,000 oz (at 3 g/t.m cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off)
- Strong Existing Infrastructure: The project contains an underground mine, reinstated heating, operational surface buildings and ground support.
Management Team
Jennifer Neild - Chief Executive Officer
Jennifer Neild is a resources executive with more than 18 years of experience in exploration across a broad range of commodities in various jurisdictions. She was most recently chief executive officer of Peak Minerals (ASX:PUA). Neild holds a degree in Geology (Hons) from Laurentian University in Sudbury, Ontario, and a Master's in Geophysics from Curtin University in Perth, Western Australia. She has held senior positions in exploration, resource geology and production geology in both Australia and Canada with Newmont Australia and Falconbridge. She was the general manager of interpretation for expert geophysics group HiSeis. With her geological and geophysics expertise in both Western Australia and Canada and her corporate and executive experience in the resources industry, Neild is ideally placed to drive the next round of exploration at the company’s Labyrinth and Comet Vale projects. She is also a member of the Australian Institute of Company Directors.
Dean Hely - Non-executive Chairman
Dean Hely is the managing partner of West Australian legal firm Lavan, with more than 29 years of experience working in corporate reconstruction, insolvency and commercial litigation. Hely currently serves as a board member of the not-for-profit organizations Rugby WA, the Australian Institute of Management WA and Youth Focus.
Simon Lawson - Technical Director
Simon Lawson is a professional geoscientist with more than 15 years of experience spanning multiple commodities and jurisdictions and was a founding team member of Northern Star Resources (ASX:NST). Currently, Lawson is the managing director of ASX-listed Spartan Resources Ltd (ASX:SPR) (formerly Gascoyne Resources (ASX:GCY)), a West Australian gold-focused mining company, and has personally visited and reviewed the acquired Canadian gold properties.
Matt Nixon - Non-executive Director
Matt Nixon is a qualified mining engineer with more than 13 years of experience in successful underground and open-pit operations working for both mining contractor and mine owner companies across gold and other commodities. Most recently, Nixon worked as the mining manager at Northern Star Resources (ASX:NST) flagship Jundee Operations. He has also held operational and senior positions with St Barbara and Redpath Australia. Nixon holds a Bachelor of Mining Engineering with honors from the University of NSW and a WA first class mine manager’s certificate and is a member of the Australian Institute of Company Directors.Investor Presentation Fiery Creek Georgetown
FIERY CREEK COPPER PROSPECT
- Georgetown Project Queensland
- Fiery Creek Copper Prospect
- 29 square kilometre Yataga Granitoid Intrusive Complex
- Identified as potential massive scale constrained copper porphyry system
- Targeting millions of tonnes of contained copper in “pencil porphyry style” Cadia type system
- 1,000 mines, prospects, mineral occurrences in Georgetown District
- 3 exploration permits covering 850km2
- Significant historical gold production, very little systematic modern exploration
- Gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite
- 8 potential scale prospects gold, copper, silver lead identified to date
- 23% copper, 14 ounces silver (460 g/t)* from rock samples in quartz breccia hosted veins at Fiery Creek
- Hosted within the massive Yataga Granitoid Complex
- 1600m x 750m outcropping copper veining up to 2m wide
- Interpreted shallow constrained, scale porphyry copper system
- Veining has extensive secondary copper mineralisation at surface
- Multi element assays point to possibility of a significant copper polymetallic system
- Pathfinder element anomalism widespread
- 2 geochemistry surveys completed by EMU
Click here for the full ASX Release
This article includes content from EMU NL, 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.
EIS Grant for Minnie Springs Copper Porphyry Drilling
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise the grant of a co-funded EIS drilling grant of up to $110,000 for the Minnie Springs Cu-Mo project in the Gascoyne Region. Augustus thanks the State Government and DEMIRS for supporting exploration in Western Australia with these grants.
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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.
Quarterly Activity Report 31 March 2024
EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to report on its activities for the quarter ending 31 March 2024.
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 31 March 2024
Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to provide its quarterly report for the period ending 31 March 2024 (the Quarter).
HIGHLIGHTS
WEST MUSGRAVE COPPER PROJECT (100% RDS) – WEST MUSGRAVE, WESTERN AUSTRALIA
- Redstone currently planning work programs to advance its copper exploration strategy at its 100% owned West Musgrave Project in WA
- Foundation set for growth ‐ existing copper resource base at West Musgrave:
- Tollu copper vein deposit with a resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper (ASX announcement of 15 June 2016).
- Significant drilling intersections of high‐grade Cu mineralisation at the Chatsworth and Forio Prospects within Tollu (dating back to 2017) are yet to be included in the existing JORC 2012 resource estimate.
- Significant and consistent high‐grade copper results at depth and to the surface at Tollu:
- Most recent drilling at Chatsworth intersected 11m at 1.2% Cu from only 29m downhole (TLC205), extending the previously intersected high‐grade copper lens a further 20m towards the surface.
- Together with prior drilling, TLC205 also confirmed the targeted high‐grade Cu lens at Chatsworth has the following encouraging characteristics:
- Up to 26m thick (downhole) and has a consistent Cu grade over 1% Cu;
- Extends over 140m vertical from TLC205 to its deepest intersection to date in TLC188;
- A consistent high average grade of over 1% in numerous holes; and
- Remains open at depth
- Historical Cu intersections at Chatsworth include mineralisation that continues from the surface to the maximum vein intersection depth at over 424m (downhole), where grades of 3.73% Cu over 10m, including 5m at 5.3% Cu from 427m (downhole), still continue and are not closed out
- Drilling at the Forio Prospect, which included the highest grade intersection ever recorded at Tollu, being 1m at 18.5% Cu from 18m downhole (TLC203) within an intersection of 8m at 4.1% Cu from 13m downhole, extend Forio’s high grade Cu mineralisation zone at Forio to a 60m strike length (north and south) of continuous high grade copper.
- The high grade Forio Cu Zone extends all the way to the surface with lenses of Cu mineralisation up to 34m thick (downhole) with average grades always over 1% Cu (34m at 1.04% Cu from 15m downhole in TLC181)
- Nearby to major BHP deposit: Tollu copper deposit is located 40km east of BHP’s world‐class Nebo‐ Babel Ni‐Cu‐Co‐PGE deposit ‐ estimated to have a resource of 390 million tonnes grading 0.33% copper and 0.30% nickel, for 1.2 million tonnes of contained nickel metal and 1.3 million tonnes of contained copper metal
- Redstone has been successfully awarded a $220,000 drilling grant from the DMIRS under the Round 29 Exploration Incentive Scheme (EIS) – grant will co‐fund a single deep drill hole of approximately 1,000m at the Chatsworth Prospect at Tollu
Click here for the full ASX Release
This article includes content from Redstone 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.
Metals Australia Quarterly Activities Report - to 31 March 2024
Metals Australia Limited (ASX: MLS) (“Metals Australia”, the “Company” or “MLS”) is pleased to report its activities for the quarter ended 31 March 2024 (“Quarter”):
Highlights
- Highly experienced Mining Executive, Paul Ferguson commenced employment with the Company, as Chief Executive Officer on January 22nd, 20241. Paul’s commencement has enabled the Company to significantly advance planning and preparation for the exploration, metallurgical test work programs and design studies required to move its flagship Lac Rainy high-grade graphite project towards development. Contract awards for key programs and studies are imminent and will be announced during May.
- The Company completed a $3.5M AUD2(before costs) capital raise to support funding of its planned exploration programs in Quebec, Canada. The raise was completed at a 40% premium to the prevailing stock price and utilised the Canadian Federal Governments exploration tax incentive program (Flow Through Shares). This program is provided by the Canadian Government to help stimulate mineral exploration investment by providing increased tax incentives to investors who support companies exploring for critical minerals. The Company has subsequently noted announcements in the April 16th Canadian Federal Govt budget of changes likely to negatively impact these investor incentives from June 25th. Having completed the capital raise, the Company has ensured it has sufficient funding to achieve its exploration and development objectives.
- Company representatives, including its CEO, hosted an investor booth at PDAC3(Prospectors & Developers Association of Canada) Mining convention in Toronto March 3rd to 6th. The convention was hugely successful with significant contacts and connections established, who have expressed their interest in our project. Connections made include government representatives, fund managers, investors and a wide range of technical services and engineering companies covering all aspects of the study programs required to advance the companies projects. This helped raise the profile of our Company’s flagship Lac Rainy project, along with our other Quebec based projects. Follow up meetings with the government and supportive, Quebec based, exploration and project investment funds has further enhanced our profile in Canada.
- The Company held strategic planning workshops in Australia and Canada to review the extensive portfolio of high-quality exploration tenements held by the group. Strategic plans and priorities were developed for each project and plans are advancing to progress further exploration and metallurgical test programs. The Company is also investigating additional exploration or project opportunities where they add scale or accelerated pathways to development. The balance of the financial year will see further announcements, outlining plans.
Click here for the full ASX Release
This article includes content from Metals Australia, 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.
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.
Click here for the full ASX Release
This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Latest News
Labyrinth Resources Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
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.