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Quarterly Activities Report
COMPANY HIGHLIGHTS
Pearl Copper Project Arizona, USA
- Option to Acquire up to 100%, with Project in a Tier 1 mining jurisdiction and in the heart of the Laramide Porphyry Copper Belt
- Adjacent to the giant San Manuel-Kalamazoo porphyry copper-molybdenum deposits
- The Ford and Pearl historic mining centres present immediate exploration targets with widespread surface alteration and high-grade rock chip samples including 7.4% Cu, 0.43% Mo, 19.9% Pb, 4.9% Zn, 360 g/t Ag
- Project due diligence is underway with Golden Mile’s management team recently completing a site visit and field assessment of the Pearl Project
Quicksilver Nickel-Cobalt Project, WA
- Completion of the Stage 3 Metallurgical Testwork Programme
- Development of an initial process beneficiation flowsheet concept which includes crushing, scrubbing, screening, regrinding, magnetic and gravity separation process
- Stage 3 testwork has demonstrated potential for the flowsheet to target a 75% nickel recovery within four concentrates
- Gold grades of 0.1 to 2.3 g/t returned in gravity concentrates
Project Assessments and Field Evaluations
- Project reviews, including field evaluation and sampling programmes completed at Yarrambee, Yuinmery, and Murchison Projects
- Project review completed at Marble Bar Project, with the execution and completion of a 120- sample stream-sediment geochemical programme
Corporate
- Appointment of Non-Executive Director Mr Michele Alessandro Bina, as the nominee of Gage Resources Development Pty Ltd
- $358,825 AUD received from the Australian Taxation Office (ATO) for its 2023 AusIndustry Research and Development Tax Incentive in relation to activities at the Quicksilver Project
Click here for the full ASX Release
This article includes content from Golden Mile 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.
Golden Mile Resources Investor Kit
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Golden Mile Resources
Investor Insight
Golden Mile Resources is a project development and mineral exploration company, with a focus on growing the company with a multi asset and multi commodity strategy through advancing core projects, acquisition of high-quality assets, and tactical alliances with joint venture partners. Golden Mile’s value proposition is driven by a highly experienced leadership team with proven expertise across the resources sector from exploration to development and production.
Overview
Golden Mile Resources (ASX:G88) is a Western Australia-based resource company with critical metals exploration projects in Western Australia and Arizona, USA. The company’s near-term focus is on advancing its newly acquired Pearl copper project in Arizona, located in the world-class Laramide Porphyry Belt. The company’s longer term focus includes the advancement of the Quicksilver nickel-cobalt project, located in Western Australia, which has an indicated and inferred resource of 26.3 Mt @ 0.64 percent nickel and 0.04 percent cobalt.
Golden Mile is also focused on strategic alliances with joint venture partners to maintain exposure without expense on its other assets, such as its Leonora JV (Patronus Resources earning up to 80 percent) project and Gidgee JV (Gateway earning up to 80 percent). Concurrently, the company’s leadership team will consider potential divestment or JVs of its non-core assets, and also aims to build up a new portfolio of high-quality multi-element assets, from discovery to development.
Overall, the company is focused on creating shareholder value, supported by a management team and board with a proven track record of exploration, development and production success. Led by managing director Damon Dormer, a mining engineer with over 26 years of experience, Golden Mile is well positioned to execute its strategy moving forward.
Company Highlights
- Golden Mile Resources has a diversified portfolio of both advanced projects and exploration assets in tier 1 jurisdictions of Australia and the US.
- The recently acquired Pearl copper project in Arizona is located in the renowned Laramide Porphyry Belt.
- The Quicksilver nickel-cobalt project near Perth has an indicated and inferred mineral resource of 26.3 Mt @ 0.64 percent nickel and 0.04 percent cobalt.
- Golden Mile is backed by a highly experienced management team with proven success in project engineering and development from exploration to production across multiple continents.
Key Projects
Pearl Copper Project
Golden Mile secured the Pearl copper project in August 2024. Located in Arizona, the asset hosts more than 50 artisanal copper workings and shares similar geological characteristics to the San Manuel-Kalamazoo and Pinto Valley porphyry copper mines. The project exhibits widespread surface alteration highlighted by rock chip samples of 7.3 percent copper, 0.43 percent molybdenum, 19.9 percent lead, 4.9 percent zinc and 360 g/t silver.
The most significant working within the project area are the Pearl and Ford mines. The Pearl mine is located on the north-western portion of the Pearl project within the Odyssey prospect. It produced up to 60,000 tons of ore containing copper oxide and sulphide, lead, silver and gold from largely artisanal workings from 1915 to 1941 (Force, 1997).
Historical records from the Ford mine, located within the Pearl copper project mine claims, have reported lead assays from 5.7 percent to 31.3 percent, copper assays from 5.8 percent to 10.6 percent and that gold increases in the deeper levels from 0.01 oz to 0.54 oz (16.7g/t) (Baird, 1942).
Significant upside from organic exploration exists given Pearl’s geographic location, situated in the heart of the world-class Laramide Porphyry Copper Belt and 1 km of the San Manuel mine (historic production of 4.7 Mt) that has been operating for 44 years.
A tier 1 mining jurisdiction, Arizona represents approximately 70 percent of domestic US copper production. The Pearl project was historically mined from 1915 to 1941.
Quicksilver Nickel-Cobalt Project
The Quicksilver nickel-cobalt project is located approximately 280 km southeast of Perth in Western Australia. The project comprises an area of about 50 sq km that boasts excellent local infrastructure, including easy access to a grid power, sealed roads and a railway line to key ports.In 2018, Golden Mile announced an indicated and inferred maiden resource estimate of 26.3 Mt @ 0.64 percent nickel and 0.04 percent cobalt. Metallurgical testwork completed in 2023 significantly improved understanding of the unique saprolitic mineralisation at the project and a potential pathway to production.
The company has also identified a customized multi-products flowsheet to produce nickel-cobalt and iron-nickel-cobalt-chromium concentrates, as well as industrial products. The process would require low energy using the physical attributes of the free digging ore.
Board and Management Team
Damon Dormer – Managing Director
A mining engineer with over 26 years of experience, including 15 years in mine management and executive roles, Dormer has worked in studies, projects, operations and innovation across Australia, USA, Papua New Guinea and Africa. Dormer has had considerable success turning around mining projects and studies resulting in the construction of multiple mines in Africa, as well as significant operational success in Australia. He has also been heavily involved in mining innovation and has personally developed techniques and strategies for the mining industry. Dormer holds a Bachelor of Engineering in Mining from the Western Australian School of Mines and has held numerous statutory appointments across the African and Australasian regions.
Francesco Cannavo – Non-executive Director
Francesco Cannavo is an experienced public company director with significant business and investment experience working with companies operating across various industries, including in particular mining exploration companies. Cannavo has been instrumental in assisting several listed and unlisted companies achieve their growth strategies through the raising of investment capital and the acquisition of assets. He is currently a non-executive director of Western Mines Group (ASX:WMG) and Stemcell United (ASX:SCU).
Grant Button – Non-executive Chairman
Grant Button is a qualified accountant and has significant commercial management and transactional experience. He has over 30 years of experience at a senior management level in the resource industry. He has acted as a managing director, executive director, finance director, CFO and company secretary for a range of publicly listed companies. Most recently, Button has been managing director of Magnum Mining & Exploration (ASX:MGU), and was previously the position executive director of Sylvania Platinum.
Michele Alessandro Bina – Non-executive Director
Michele Alessandro Bina is a former investment banker based in Hong Kong and is an adviser to Beijing Gage, the parent company of Gage Resource Development (Gage). Bina joins the existing board of Alice Queen as a non-executive director as the nominee of Beijing Gage Capital Management (Beijing Gage).
Justyn Stedwell - Company Secretary
Justyn Stedwell has over 17 years of experience as a company secretary of ASX listed companies and has also served as a non-executive director on several ASX listed company Boards. He holds a Bachelor of Commerce from Monash University, a graduate diploma in accounting from Deakin University and a graduate diploma in applied corporate governance from the Governance Institute of Australia.
Martin Dormer – Exploration Manager
Martin Dormer is an exploration geologist with over 27 years’ experience in mineral exploration and resource development, from greenfields through to feasibility. His experience spans multiple commodities including precious, base metal, and industrial metals across a wide range of geological settings and jurisdictions. Dormer has worked in multiple locations around the globe, including Australia, Asia, and Africa in senior management positions in the private and public sectors. He has also operated a private geological consultancy, Unearthed Elements, for the past 14 years. Dormer is a graduate of the WA School of Mines in Mineral Exploration and Mining Geology and is a member of the Australian Institute of Geoscientists and the Australian Institute of Mining and Metallurgy.
Golden Mile Confirms Joint Venture-Acquisition Over Highly Prospective Copper Project in Arizona, USA
Golden Mile Resources Limited (“Golden Mile”; “the Company”; ASX: “G88”) is pleased to report the Company has completed successful due diligence and entered into a joint venture-acquisition agreement with Outcrop Silver & Gold Corporation (“Outcrop”) over the Pearl Copper Project located in Arizona, United States of America (“USA”).
HIGHLIGHTS
- Golden Mile has entered into a joint venture-acquisition agreement with Outcrop Silver & Gold Corporation (“Outcrop”) for the Pearl Copper Project located in Arizona, United States.
- Initial field reconnaissance has delineated multiple targets within the project area. This highlights the near-term drill, and company making potential, of the Odyssey and Ford Prospects.
- At Odyssey, which hosts the historic artisanal Pearl (Cu-Zn-Ag-Au) Mine, multiple vein targets up to five metres wide extend continuously for approximately 800m and are evident at the surface.
- At Ford, limited historic data indicates a shaft was developed to a depth of around 70 metres. Polymetallic Cu-Pb-Ag-Au-Zn vein type mineralisation, up to five metres wide, was mined before excess water halted operations in circa 1942.
- Due Diligence indicates the Pearl Copper Project not only hosts near-term vein targets but also shows widespread surface alteration, suggesting the presence of intrusive disseminated mineralisation, making it a significant Cu-porphyry target.
- Golden Mile and Outcrop have agreed on terms for Golden Mile to acquire up to a 100% ownership of the Pearl Copper Project through a staged, earn in and dilution, investment of up to $A 12 million over eight years along with up to a 2% net smelter royalty.
Photo 1: Odyssey Prospect rock chip - Photo 2: Ford Prospect Alteration
Overview
A recently completed field trip, undertaken as part of the due diligence, has confirmed the very high prospectivity of the project area for company-making copper resources.
Figure 1: Significant Copper Mines and Projects in Arizona USA
This field examination, undertaken in late July, and while only preliminary in nature, has delineated the Odyssey and the Ford prospects within the Pearl project area as immediate highly prospective, exploration drill targets.
At Odyssey, a sub outcropping multiple vein copper target with surface mineralised widths up to five metres and a strike length of around 800 metres has been mapped. This prospect hosts the historic largely artisanal Pearl working’s where historical records indicate around 60,000 of ore containing copper oxide and sulphide, lead, silver, and gold was produced from 1915 to 1941 (Force, 1997).
Click here for the full ASX Release
This article includes content from Golden Mile 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.
Brightstar Resources Limited (ASX: BTR) – Reinstatement to Quotation
Description
The suspension of trading in the securities of Brightstar Resources Limited (‘BTR’) will be lifted immediately, following the release by BTR of an announcement in relation to exploration results and BTR’s response to an ASX Price Query.
ASX Compliance
Click here for the full ASX Release
This article includes content from Brightstar 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.
Menzies’ Lady Shenton System Continues to Impress with RC Drilling Results to 80.4 g/t Au
Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce the final assay results from the Reverse Circulation (RC) drilling program at the Menzies Gold project (Menzies), part of the large RC and diamond drilling (DD) program across the broader 2Moz Au Brightstar portfolio. The infill program targeted gold mineralisation within delineated pit shells and underground designs outlined within Brightstar’s Scoping Studies3,4 along with extensional drilling across the portfolio to grow the current JORC Mineral Resource Estimates within Brightstar’s Goldfields assets.
HIGHLIGHTS
- The final assays have been received for infill RC drilling conducted at the Pericles deposit, within the larger 287koz Au Lady Shenton System at the Menzies Gold Project
- Drilling results included wide and high-grade intercepts (>10 gram-metres) including:
- LSRC24014
- 4m at 22.4 g/t Au from 74m, including 1m at 80.4 g/t Au from 75m, and
- 6m at 2.30 g/t Au from 92m
- LSRC24042
- 4m at 14.9 g/t Au from 0m, and
- 12m at 1.87 g/t Au from 129m
- LSRC24039
- 10m at 7.1g/t Au from 129m, including 1m at 55.4g/t from 132m
- LSRC24032A
- 12m at 3.87g/t Au from 123m, and
- 1m at 15.5g/t Au from 110m
- LSRC24029
- 4m at 6.77g/t Au from 131m, including 1m at 19.1g/t Au from 133m
- LSRC24028
- 7m at 3.82g/t Au from 121m
- LSRC24025
- 6m at 3.51g/t Au from 108m
- LSRC24013
- 7m at 2.89g/t Au from 58m, including 1m at 13.4g/t from 64m
- LSRC24011
- 7m at 2.81g/t Au from 81m, including 1m at 14.0g/t Au from 87m
- LSRC24022
- 2m at 9.13g/t Au from 81m, and
- 2m at 5.23g/t from 60m
- LSRC24026
- 2m at 8.0g/t Au from 132m, and
- 8m at 1.78g/t Au from 119m, and
- 7m at 1.57g/t Au from 138m
- LSRC24012
- 3m at 4.66g/t Au from 41m
- LSRC24023
- 1m at 12.34g/t Au from 81m, and
- 9m at 1.28g/t from 152m
- LSRC24014
- This program completes the drilling component of the previously announced Definitive Feasibility Study1 and +30,000m drilling program2, with material presently being assessed at metallurgical laboratories in parallel with Mineral Resource Estimate updates, geotechnical studies and planned mining optimisation workflows planned for delivery in H1 2025
Brightstar’s Managing Director, Alex Rovira, commented“The high grade and wide intercepts received from this drilling campaign builds on our existing knowledge of the Lady Shenton System, with these results showing consistent mineralisation within and immediately below the A$2,750/oz pit shell generated during our Scoping Study. At the time, this gold price was considered conservative and even more so given that the current spot gold price is over A$4,100/oz.
We intend to immediately commence a Mineral Resource Estimate update for this deposit, with the view to building high levels of confidence in our DFS mine design in parallel with other workstreams currently underway. We are also progressing approvals for Menzies, with proactive environmental planning and community engagement ongoing to facilitate mining operations targeted to commence in 2025.
With these Menzies RC assays now received, we look forward to receiving the outstanding Fish and Lord Byron diamond hole assays from the Jasper Hills Project over the coming weeks, along with re-commencing RC drilling at our newly acquired Montague East Gold Project located north of Sandstone in the Murchison region”.
Figure 1 – Lady Shenton location within broader Menzies Gold Project
TECHNICAL DISCUSSION
A grand total of 58 holes have been drilled in two campaigns at the Pericles deposit during 2024, with results from 26 drill holes released previously on 8th July 2024 including intercepts such as 5m at 15.62g/t Au from 104m (LSRC24049) and 2m at 22.32g/t Au from 95m (LSRC24051). All assays from the second campaign have now been received and assessed, with information presented in Tables 2 & 3 and Figures 2 & 3 of this release.
As part of the September 2023 Scoping Study for the Menzies and Laverton Gold Projects, Brightstar commissioned independent mining engineering consultants to complete open pit optimisations at a conservative gold price of A$2,750/oz Au for a “base case” scenario analysis as shown in Figure 3. At the time of reporting, the gold price assumption used in the Scoping Study is significantly under the spot gold price of +A$4,100/oz.
Figure 2 - Lady Shenton System drilling program (Pericles Deposit) Cross section A-A’ is displayed in Figure 3
The overall program, which was completed in two campaigns to allow for an opportunity to fast-track drilling at the Jasper Hills Gold Project, was designed to confirm mineralised lode positions within the $2,750/oz pit shell with the intent of infilling key areas to increase mineral resource estimate confidence to support the potential declaration of Ore Reserves as part of the DSF.
Click here for the full ASX Release
This article includes content from Brightstar 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.
New Exceptionally High-Grade Gold Intersections from Infill Drilling at Crown Prince
Ora Gold Limited (ASX: OAU, “Ora” or the “Company”) is pleased to report assay results from infill RC drilling at the Crown Prince Project (M51/886) part of Ora’s broader Garden Gully tenure (Figure 1).
Highlights
- Ora has received assays for a 7,500m, 66-hole infill RC drilling program at Crown Prince. This drilling was undertaken to better define mineralised lodes within the south eastern zone (SEZ) deposit to upgrade resource categories within a future conceptual open pit area.
- This drilling has returned some exceptional grades and intercepts including:
- 20m at 277g/t Au from 40m including 4m at 1,368g/t Au from 52m (OGGRC859)
- 15m at 14.7g/t Au from 152m (OGGRC872)
- 9m at 21.44g/t Au from 28m including 2m at 77.8g/t Au from 31m (OGGRC883)
- 7m at 11.74g/t Au from 132m (OGGRC874)
- 11m at 6.72g/t Au from 4m (OGGRC886)
- 12m at 6.05g/t Au from 76m including 4m at 10.2g/t Au from 80m (OGGRC895)
- 9m at 6.27g/ t Au from 66m including 1m at 18.6g/t Au from 66m (OGGRC888)
- 7m at 6.87g/ t Au from 133m (OGGRC864)
- New very high-grade zones have been encountered in the footwall of SEZ lodes which will likely improve grade and tonnage estimates in this area.
- This infill drilling has generally confirmed gold mineralisation modelling and has upgraded the quality in many areas.
Ora is continuing to progress Crown Prince towards development, targeting production commencement mid calendar year 2025. Among the several workstreams underway, including regulatory approvals, the Company has completed infill drilling ahead of releasing an ore reserve.
The program was designed to target zones of mineralisation within a conceptual pit design at Crown Prince that are currently in the inferred category of mineral resource (refer ASX release 20 February 2024). This drilling successfully confirmed mineralised zones and improved gold grades in some key areas.
Other improvements from this infill drilling include delineation of new near surface high grade zones and parallel lodes in new positions in the footwall and hanging wall of the south eastern zone (SEZ) mineralisation.
These zones are within the conceptual open pit for the Crown Prince deposit and are expected to add to the mineral resource and future mining inventory. Importantly, the grades returned in this infill drilling support existing published grades and may provide a foundation for an uplift in the average grade overall for the resource.
Assay results discussed in this announcement are shown in Appendix 1 & Figures 2-5. RC hole details are included in Table 1.
Alex Passmore Ora Gold’s CEO commented:
“We are very pleased to report these exceptionally high-grade results returned from recent infill drilling. The infill drilling was carried out successfully and has confirmed or improved the mineralisation model we have for Crown Prince.
Such high-grade headline results demonstrate the high quality nature of the Crown Prince Project and point to its likely strong economics during development and production.
We look forward to providing further information on the updated resource estimate in coming weeks and then to follow up with an ore reserve as work progresses.”
Figure 1. Ora Gold Regional Tenements - Crown Prince located 21km north of Meekatharra
Figure 2. Significant gold intercepts from recent infill RC holes at Crown Prince
Figure 3. Cross Section A-A’ at the western end of SEZ Mineralisation
Cross Section A-A’
Infill drilling at SEZ has confirmed new FW and HW lodes outside the current mineralisation wireframes, with outstanding high-grade intercepts Including: 20m @ 277.36g/t Au from 40m (incl: 4m @1368.11 g/t Au from 52m) in OGGRC859 and 35m @ 2.96 g/t Au from 173m In OGGRC873.
Extensions to the current mineralisation model along section A-A have been confirmed by intercepts in OGGRC862, 875 and 872 which include 7m @ 6.87 g/t Au from 133m in OGGRC864 and 15m @ 14.7 g/t Au from 152m (incl: 1m @ 177 Au from 153m).
New high-grade intercepts in OGGRC859, along with previous intercepts in OGGRC477 have highlighted additional mineralised zones close to surface in the footwall, which fall outside existing mineralisation wireframes.
OGGRC873 has strengthened the current interpretation that the high-grade shoots at the southwestern end remain wide and continuous at depth.
The SEZ host geology consists of a series of coarse-grained amphibole dolerites and minor high Mg basalts which grade into an intensely sheared unit proximal to mineralisation. Gold is associated with classic, extensional mesothermal style quartz lodes with characteristic Fe carbonate +/- fuchsite alteration, with high grade zones occurring with sulphide laminations and microstructures that crosscut the early-stage white buck veins.
Recent infill drilling has confirmed that the mineralisation system remains high grade down dip, highlighting potential for future underground mining.
Click here for the full ASX Release
This article includes content from Ora Gold, 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.
Maiden Ore Reserve – Wonawinta Silver Mine
Manuka Resources Limited (“Manuka” or the “Company”) is pleased to announce a Maiden Ore Reserve (under its ownership) of the Wonawinta Silver Mine (“Wonawinta” or the “Project”), located 80km due south of Cobar in New South Wales (Figure 1). The Ore Reserve and associated Implementation Plan provides the Company with a clear production pipeline and pathway toward a dual precious metals revenue stream from two operating assets in the Cobar basin, namely Mt Boppy Gold Mine and Wonawinta.
Highlights
- The Wonawinta Silver Mine and Processing plant is a highly strategic asset located within the prolific Cobar Basin, NSW, and owned 100% by Manuka Resources Limited.
- Wonawinta is the only primary silver Reserve in Australia with all mining approvals current and intact, and process plant fully constructed - Wonawinta was producing silver for Manuka as recently as late 2022.
- Ore Reserve of 4.8Mt1 at 53.8g/t Ag containing 8.4Moz of silver comprising:
- Proved Ore Reserves of 0.8Mt at 50.8g/t Ag; and
- Probable Ore Reserves of 4.1Mt at 54.3g/t Ag.
- Ore Reserve is based solely on shallow (<40m deep) oxide material.
- Total Wonawinta Resource comprises 38.3Mt at 41.3g/t Ag for 51Moz of silver (ASX release 1 April 2021).
- The Ore Reserve and associated Implementation Plan will be used to assess the potential to take Wonawinta out of active care & maintenance and recommence silver production.
- Manuka is currently focused on the restart of a high-margin operation at its 100% owned Mt Boppy Gold Project located 50km east of Cobar and progressing approvals for its world-class vanadium rich irons sand project located in the Southern Taranaki Bight, New Zealand.
Manuka’s Executive Chairman, Dennis Karp, commented:
“Manuka’s Maiden Silver Ore Reserve and the preparation of an Implementation Plan for Wonawinta represents a major milestone for the Company and supports a potential of restarting silver mining and processing operations in the future. Our process plant at Wonawinta has been kept in excellent condition and on active care & maintenance since the processing of gold from stockpiles hauled from Mt Boppy, ceased in February 2024 and therefore stands ready to come back online at short notice.
The prospect of restarting Wonawinta provides the Company with excellent optionality on silver and the potential to take advantage of the very buoyant precious metals prices and broader strategic opportunities within the Cobar Basin. We look forward to providing further updates to the market as our strategy progresses.
Summary
Wonawinta was built by Cobar Consolidated Resources (“CCR”) in 2011 and acquired by Manuka in 2016. The Project comprises a granted mining lease, existing open pits mines, an existing 1Mtpa CIL process plant and associated infrastructure including approved tailings dams and accommodation facilities (Figures 2 – 4). Whilst limited silver production was undertaken by Manuka in 2022, the Wonawinta plant has primarily, and as recently as December 2023, been used by Manuka to produce gold doré from ore hauled from the Mt Boppy gold mine.
Figure 1: Location of Manuka’s Wonawinta and Mt Boppy Projects within the Cobar basin.
Figure 2: Overview of the Wonawinta Mine Site.
Figure 3: Existing Manuka Open Pit
Figure 4: The existing Wonawinta CIL Processing Plant
The current Implementation Plan proposes the mining and processing of 4.8Mt of Ore at a grade of 54g/t Ag over 4.5 years for the recovery of 5.8Moz of silver. Capital Costs for taking the mine out of care & maintenance and recommence production are estimated to be A$3.7M plus A$12.4M in pre-strip mining. Based on the current silver forward curve and an All-In Sustaining Cost of A$40.51/oz, the mine plan would deliver operating cash flows of ~A$100M based on the Ore Reserve alone.
As the price and demand outlook for silver continues to develop, Manuka will continue to refine its economic model for the Project and look to further optimise the mining schedule and reduce pre-production mining costs ahead of a decision to commence the restart of operations.
Click here for the full ASX Release
This article includes content from Manuka 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.
Newmont Suriname Awarded U.S. Secretary of State's Award for Corporate Excellence
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces its operations in Suriname has been awarded with the United States of America Secretary of State's Award for Corporate Excellence in the Climate Resilience category. This recognition, highlights Newmont's pivotal role in advancing Suriname's economic development and the company's commitment to sustainability and corporate responsibility.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241028794086/en/
"Newmont is honored to receive this prestigious award. It is a testament to our commitment to creating value and improving lives through responsible and sustainable mining," said Tom Palmer, CEO and President of Newmont. "Since we began operations in Suriname, we recognized the critical needs of local communities, especially with regard to infrastructure and economic opportunities that have been impacted by climate change.
"Over the years, we have built programs in collaboration with our community partners to support existing businesses and to generate new opportunities that benefit from Newmont's value chain. This includes working closely with Artisanal Small-Scale Miners on their land reclamation efforts and offering capacity-building programs and financial assistance to develop a new pipeline of small business opportunities.
"As a 103-year-old US-based company, we are proud to demonstrate our commitment to the highest ethical and environmental standards, and to the long-term advancement of Suriname and its people," he added.
Newmont is deeply committed to supporting and advancing Suriname's green development goals. We will continue to enhance our impact in this area by working closely with our stakeholders. Over the years, our unwavering dedication to this purpose has consistently driven socio-economic development in the communities we serve.
Newmont fosters economic growth by empowering local communities through talent development, local procurement, and capacity-building initiatives. In collaboration with our community partners, Newmont has created programs to support local businesses and generate new opportunities from our value chain. This includes working closely with Artisanal Small-Scale Miners on land reclamation efforts and providing capacity-building programs and financial assistance to develop new opportunities for small local businesses.
Established in 1999, the United States of America Secretary of State's Award for Corporate Excellence recognizes the crucial role U.S. companies play in elevating higher standards of business conduct. More information can be found here .
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20241028794086/en/
Media Contact:
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact:
Neil Backhouse
investor.relations@newmont.com
News Provided by Business Wire via QuoteMedia
Investor Guide to Australia’s Gold Resources
Australia's gold mining industry has long been a cornerstone of the nation's economic prosperity, offering investors a wealth of opportunities in one of the world's premier gold-producing countries. This guide delves into the rich history, geological characteristics, major players and current exploration activities shaping Australia's gold sector.
Australia's gold-mining history and resources
The Australian gold rush began in 1851 with the discovery of gold near Bathurst in New South Wales, marking the beginning of a transformative era. This pivotal moment not only sparked a wave of migration but also laid the foundation for Australia's modern mining industry. The gold rushes of the 1850s in Victoria, particularly in Ballarat and Bendigo, further cemented Australia's reputation as a gold-mining powerhouse.
As the 19th century progressed, gold discoveries expanded beyond New South Wales and Victoria, reaching Queensland and Western Australia. The 1890s saw another significant boom with the Kalgoorlie gold rush in Western Australia, introducing innovations like deep shaft mining and large-scale operations that continue to influence modern mining practices.
Today, Australia is one of the world's top gold producers, with its resources primarily concentrated in Western Australia, accounting for approximately 70 percent of the country's total gold production. The industry has demonstrated remarkable resilience, adapting to global challenges and technological advancements to maintain its competitive edge.
Characteristics of gold deposits in Australia
Australian gold deposits are diverse, reflecting the country's complex geological history. The primary types include:
- Lode gold deposits: These economically significant deposits are often found in metamorphosed volcanic and sedimentary rocks. Formed through hydrothermal processes, they include notable examples like the St. Ives and Agnew camps.
- Copper-gold deposits: This category encompasses iron oxide-copper-gold and porphyry deposits. Porphyry deposits, in particular, are known for their large scale and low-grade characteristics, often yielding substantial gold and copper concentrations.
- Orogenic gold deposits: Formed during mountain-building events, these deposits are prized for their high gold grades and nuggety nature. They're common across various Australian regions and closely tied to geological processes like faulting and folding in crystalline basement rocks.
- Epithermal gold deposits: While typically featuring lower gold grades, these deposits can still be economically viable due to their often high concentration of precious metals.
- Paleoplacer and placer deposits: These deposits, formed from ancient river systems or glacial deposits, have played a significant role in Australia's gold mining history, particularly in alluvial mining operations.
The diversity of these deposit types not only contributes to Australia's status as a top gold producer but also presents varied investment opportunities across different mining techniques and scales of operation.
Gold producers and explorers
Australia's gold production is concentrated in three primary regions:
Western Australia
Western Australia dominates the country's gold sector, accounting for about 70 percent of national production.
Key operations include: Kalgoorlie Consolidated Gold Mines’ Super Pitmine in Kalgoorlie is one of Australia's largest open-pit gold mines, known for its nugget gold production.
Newmont’s (TSX,NGT,NYSE:NEM) Boddington gold mine, is also a major open-pit operation producing both placer and deep rock gold, ranking among Australia's largest in terms of production volume.
One operation worth mentioning is Horizon Minerals (ASX:HRZ), an emerging mid-tier gold producer with an extensive portfolio of highly promising gold projects in the world-class Western Australian goldfields. Horizon’s recent merger with Greenstone Resources enhanced its portfolio with two complementary cornerstone gold assets — Burbanks and Boorara — giving Horizon an updated mineral resource of 1.8 Moz gold.
Victoria
Victoria, with its rich gold mining heritage, continues to be a significant producer, known for high-grade deposits. A standout operation is the Fosterville mine operated by Agnico Eagle (TSX:AEM,NYSE:AEM). Renowned for its high-grade underground gold deposit, Fosterville has attracted substantial investment due to its exceptional ore quality.
New South Wales
Contributing about 12 percent of national production, New South Wales remains a crucial player in the Australian gold landscape. Newcrest Mining operates the Cadia Valley mine, a major underground operation producing both gold and copper, exemplifying the diverse mineral wealth of the region.
The Australian gold sector continues to evolve, with ongoing exploration efforts promising new discoveries and opportunities for investors. These exploration activities underscore the vibrant landscape for investment in Australian gold mining, characterized by potential new discoveries and expanding production capabilities.
Investor takeaway
As global demand for gold continues to fluctuate, Australia's gold mining sector remains a beacon for investors seeking stability and growth potential in their portfolios.
With its rich history, diverse deposit types and ongoing exploration activities, the Australian gold industry offers a golden opportunity for those looking to invest in a sector backed by centuries of expertise and innovation.
This INNSpired article is sponsored by Horizon Minerals (ASX:HRZ). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Horizon Mineralsin order to help investors learn more about the company. Horizon Mineralsis 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 Horizon Mineralsand seek advice from a qualified investment advisor.
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