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![Reach Resources](https://investingnews.com/media-library/reach-resources.png?id=29749135&width=1200&height=800)
Heritage Clearance Obtained & $4M Placement Completed
Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to announce that it has received binding commitments to raise A$4 million through a strategic Placement.
HIGHLIGHTS
- Firm commitments received for A$4.0 million at 1 cent per share (0% discount to closing price on 27 July 2023)
- Strategic Placement to Australian & UK fund management institutions including new and existing sophisticated investors
- Maiden drill program to commence with over 4,500 metres to be drilled at the Company’s 100% owned Morrissey Hill Lithium Project (E09/2375), Yinnetharra WA
- Receipt of all regulatory approvals and permits, including Aboriginal heritage clearance, obtained for Morrissey Hill, Yinnetharra WA
- Drilling contractors Strike Drilling & DDH1 booked to mobilise to site, week commencing 14 August
- Placement funds further allow the Company to fast track the approvals process at the Company’s highly prospective Niobium and REE Project at Wabli Creek, Yinnetharra WA
Figure 1: RR1 Yinnetharra Tenement Plan
The Placement will see the Company issue 400 million new shares at an issue price of $0.01 per share (“Placement Shares”), each with a 1:3 free attaching unlisted option, exercisable at $0.01 and expiring 4 August 2025 (“Options”).
The majority of the strategic Placement was granted to Australian & UK fund management institutions, in addition to new and existing Australian sophisticated investors.
Funds raised will be immediately put to work with drilling contractors, Strike Drilling and DDH1 engaged to mobilise to the Company’s Morrissey Hill lithium project (Yinnetharra) in the Gascoyne Mineral Field, Western Australia, during the week commencing 14 August 2023.
Figure 2: RR1 Morrissey Hill (E09/2375), Yinnetharra ‐ Proposed Drilling (Refer ASX Announcement 15 May 2023 for highlighted results)
The maiden drill program will consist of a proposed ~2500m RC and ~2000m diamond drill hole program concentrated on the Bonzer Pegmatite Field but may include reconnaissance holes at the Malibu Lithium prospect, the Swallowtail Copper prospect and further south of the Bonzer Pegmatite Field where a large number of outcropping pegmatites have been recently mapped and heritage cleared.
The program will include ~8‐10 RC holes to approximately 100m to 300m depth and another 8‐10 DDH to similar depths for ~4500m drilling in total. Holes are planned to assess grade, size and scale of the mapped pegmatites and test for the presence of “blind” sub‐surface pegmatite bodies.
The Company is pleased to announce the receipt of all necessary approvals and permits, including Aboriginal heritage clearance and a program of works (“POW”), allowing the commencement of the Company’s maiden drilling program at the Morrissey Hill Lithium Project.
The Reach Exploration team worked with the Yinggarda Traditional Owners to assess and clear four large polygons across the Morrissey Hill project, which provides the Company with the flexibility to drill the large number of outcropping pegmatites identified and avoid any areas of cultural significance anywhere within the polygons. The POW was also submitted and approved on this basis.
Reach CEO Jeremy Bower said: “Since acquiring our Yinnetharra projects in April we are really happy with what we have achieved over the past couple of months. Our exploration team has been methodical, using all the tools at our disposal to identify and confirm the Bonzer pegmatite field, including the numerous other pegmatites across Morrissey Hill, as both highly fractioned and lithium bearing at surface.
The Bonzer prospect only represents a small portion of the potential at Morrissey Hill, but we have always said the Bonzer is a walk‐up drill target and following the outstanding rock chip results obtained at this location, it’s without a doubt our first stop. Having Strike Drilling and DDH1 mobilising in a couple of weeks to kick off our maiden drilling program, on an area that has never been previously drilled is exciting.
None of this would have been possible without the co‐operation and support of the local Yinggarda people during the recently completed heritage surveys at Morrisssey Hill. We look forward to building a strong relationship with the Yinggarda people as we assess more pegmatite areas.
Delta Lithium are doing some great work next door and reporting fantastic results from the same pegmatite system. Morrissey Hill deserves to be drilled comprehensively, and with the $4 million raised under the Placement, the exploration team can take their time and do things right. Additionally it provides sufficient funding to fast track the necessary approvals required to get things moving at Wabli Creek where the Company has reported very promising Niobium results.
We are delighted with the outcome of the Placement which secured strong institutional support from new investors who recognise the value in the Company. We look forward to providing regular updates over the coming months as we obtain assays from over 5000 soil samples and as drilling gets underway.”
Click here for the full ASX Release
This article includes content from Reach 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.
Odessa Minerals: Exploring for Lithium and Rare Earths in Western Australia's Resource-rich Gascoyne Region
Quarterly Activities/Appendix 5B Cash Flow Report
Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 30 June 2023.
High-Grade Lithium Results at Yinnetharra (15 May 2023)
- Lithium mineralisation confirmed with rock chip samples reporting highly encouraging assays of up to 2.3% Li2O (lithium oxide); 4295ppm Cs (caesium) and 705.8ppm Ta2O5 (tantalum oxide).
- Multiple large, strike extensive, lithium-bearing pegmatites of the Spodumene-Petalite Subtype (Featherstone, J.M, 2004) confirmed at the Company’s Yinnetharra tenements, directly adjoining Delta Lithium (ASX: DLI) and Minerals 260 (ASX: MI6).
- Results from the Bonzer include:
- 23RRRK0003 - 14,422ppm or 1.4% Li2O, 2873ppm Cs ,714.4ppm Ta2O5 and 4891ppm Rb.
- 23RRRK0002 - 12,832ppm or 1.3% Li2O, 2205ppm Cs, 243.4ppm Ta2O5 and 4108ppm Rb.
- Results from the Bonzer include:
Outcropping Copper Gossan Delivers 33% Cu Assays (18 May 2023)
- High grade copper-oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag.
14.3% Niobium & 70.3% HREO-Rare Earth Element NYF Pegmatite (1 June 2023)
- Sensational high-grade results from surface eluvial samples at Wabli Creek, Yinnetharra
- 14.3 % Nb2O5, 6.7% Ta2O5, 3689 ppm TREO with 70.3% HREO
- Independent geological experts RSC have advised that the consistent high-grade niobium and HREO is associated with a ~2.5km long rare element pegmatite swarm identified from historical records at Wabli Creek
- Importantly the mineralisation likely extends under cover (Jacobson et al, 2007)
- Source of high-grade niobium and heavy rare earth oxide (HREO) results confirmed as a rare element pegmatite swarm with niobium, yttrium, fluorine (NYF) geochemical signature
- Rare element (NYF) pegmatites are characterised by their unusual enrichment of niobium and heavy rare earth elements (HREE), in contrast to clay hosted or carbonatite deposits which predominantly contain light rare earth elements (LREE)
- Confirmation of a rare element pegmatite system increases the likelihood of identifying additional high-grade niobium and HREE which are listed as critical minerals by governments worldwide
Latest Assay Results Return up to 10.3% Niobium (28 June 2023)
- Spectacular assay results received from the latest surface eluvial and rock samples taken at the Wabli Creek rare element (NYF) pegmatite field have returned high grade niobium of 10.3% Nb2O5 (23RRRK243) and 2.6% Nb2O5 (23RRRK244). Additional anomalous rare earth elements (REE) results returned of up to 7082 ppm TREO.
- Importantly, samples from the latest program were taken up to 400m east of the previously mapped north-west pegmatite trend spanning ~1.5km, which returned results up to 14.3% Nb2O5, 6.7% Ta2O5, 3689 ppm TREO
- Latest results indicate a potential stacked pegmatite sequence and/or a new niobium/REE mineralisation source.
Click here for the full ASX Release
This article includes content from Reach 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.
Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
Click here for the full ASX Release
This article includes content from Reach 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.
Reach Resources’ Strategic Position Between Two of WA’s Mining Heavyweights
Reach Resources’ (ASX:RR1) strategic position with its Morrissey Hill project has placed the critical mineral explorer on the radar of two of Western Australia’s mining giants Delta Lithium (ASX:DLI) and Minerals 260 (ASX:MI6), according to an article published in The West Australian.
“While Delta and Minerals 260 have between them wrapped up what appears to be the region’s prime ground, both of their maps show a glaring and curious anomaly. Closer inspection reveals that a reasonable chunk of ground, right in the middle of the two bigger players, is held by the $10m market-capped Reach Resources,” the article said.
Reach acquired the Morrissey Hill lithium project in February, at the same time that it acquired the Camel Hill and White Castles tenements prospective for rare earths and manganese, respectively, covering four tenements. Morrissey hosts historical, high-grade lithium, tantalum, rubidium, caesium and niobium, according to Reach.
Click here to connect with Reach Resources’ Limited (ASX:RR1) for an Investor Presentation.
Multiple New Lithium (LCT) Pegmatite Targets Confirmed
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) engaged globally renowned geological consultants RSC Consultants Limited (RSC) to assess the potential of the Company’s Gascoyne projects for:
- Lithium (Li): hard rock, high grade LCT Pegmatites
- Rare Earth Elements, Heavy and Light (HREE; LREE): clay/hard rock hosted
- Manganese (Mn): high grade strata bound, supergene, and• Precious and base metals (Au; Ag; Cu-Pb-Zn)
HIGHLIGHTS
- Independent geological experts RSC consultants have identified four priority target areas for Lithium-Caesium-Tantalum (“LCT”) Pegmatites within the Company’s Critical Elements Projects, located in the centre of the rapidly developing Gascoyne “Battery Metals” Province, WA
- Each of the target areas are associated with confirmed fertile parental granites of the Thirty Three and Durlacher Supersuites and contain the same metasedimentary sequences which host Red Dirt Metals (ASX: RDT) Yinnetharra Lithium Project, less than 10 km’s to the NE of Reach Resources’ tenure
- All of the targets are defined by favourable geology, multi-element pathfinder geochemistry and the presence of mapped Geological Society of Western Australia (GSWA) Tin, Tantalum and Lithium pegmatites
- A helicopter supported field reconnaissance program has been initiated to assess the priority areas in more detail
- Drilling of priority targets is scheduled to commence in CY Q3/4 2023 once all regulatory approvals are received
CEO Jeremy Bower commented:
“RSC’s independent expert analysis confirms our belief that our landholding in the Gascoyne has the potential to host significant battery metal deposits.
Phase 1 of the assessment focused on the lithium potential at our Critical Elements Projects and has not only cemented Morrissey Hill as our primary lithium target but importantly has identified three new lithium target areas. Each of the areas are defined by the presence of a highly fertile parent granite and supported by key multi-element geochemistry including lithium, caesium, tantalum, tin and rubidium which are all well documented associations of lithium bearing “rare metal” LCT pegmatite mineral systems.
This is an exciting time for the Company and our shareholders, and we look forward to delivering updates to the market over the coming months. The Future is within Reach”.
Phase 1 of the assessment focused on the lithium potential of the Company’s Critical Elements Projects which includes the newly acquired Morrissey Hill and Camel Hill projects as well as the Wabli Creek project (Figure 1).
Figure 1: Critical Elements Projects
The assessment included a review of relevant deposit models and mineralisation styles of interest, regional and local geology, local mineral systems, academic papers, open file company and government reports and all available geochemical, geophysical and remote-sensed data sets.
Click here for the full ASX Release
This article includes content from Reach 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.
Winsome Receives MCS Grant from Government of Québec
HIGHLIGHTS
- Winsome’s subsidiary Lithium Winsome Adina Inc has been granted circa C$130,000 (A$146,000) by the Quebec Government
- The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals, overseen by the Quebec Ministry of Natural Resources and Forests.
- The grant will contribute towards the ongoing metallurgical testwork programme being conducted on samples from Adina.
- Testwork will inform the forthcoming project studies for Adina which are anticipated to be published in 2H 2024 and will include evaluation of the Company’s recent option to acquire the Renard Operation some 60km from Adina.
The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals (Programme de soutien à l’exploration minière pour les minéraux critiques et stratégiques 2021‑2024 in French or PSEM-MCS) which is overseen by the Quebec Ministry of Natural Resources and Forests (Ministère des Ressources naturelles et des Forêts or MRNF).
WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:
“We would like to thank the Gouvernement du Québec for the award of this grant towards our metallurgical testwork programme. We acknowledge the desire of the Quebec Government to develop the critical and strategic minerals industry within the province, including investigating the potential for downstream and other value-adding initiatives, and we are pleased that our Adina project has been recognised as one of the premier lithium development opportunities within Québec.
We are looking forward to this being the first of many collaborations between the Quebec Government and Winsome Resources as we progress the development of Adina for the benefit of key stakeholders within the region”
In March 2020, the Government of Quebec announced a five-year investment of $90 million to develop critical and strategic minerals (CSMs). In October 2020, it launched the Quebec Plan for the Development of Critical and Strategic Minerals 2020‑2025 (QPDCSM), to oversee the interventions to make Québec a leader in CSM production, processing and recycling, in partnership with regional and Indigenous communities. The PSEM-MCS is part of the QPDCSM and was established to provide assistance to CSM exploration projects, based on their contribution to CSM exploration in Québec and the quality of the exploration model.
Click here for the full ASX Release
This article includes content from Winsome 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.
Unconformity Uranium Drill Targets Identified from 2024 Geophysical Data
Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to provide an update on the winter 2024 geophysical program that was conducted at the Marshall and North Millennium Uranium Projects (‘Marshall’, ‘North Millennium’ or the ‘Projects’), located in the southeastern part of the uranium-rich Athabasca Basin, refer to figure 3. The Southeastern Athabasca hosts some of the highest-grade uranium mines, with recent significant unconformity-related mineralisation discoveries occurring over the past few years1,2.
Key Highlights
- Final data received and interpretation completed for the ground electromagnetic geophysical surveys from the winter 2024 program at the Marshall and North Millennium projects.
- Several conductive anomalies identified at Marshall, located above and below the unconformity, consistent with regional exploration model.
- Stacked anomalies concurrently with multigenerational geophysical data provides a base to assess the exploration targets and refine drillhole targets.
- The projects are located 15 kilometres from the majority Cameco owned Millennium deposit, and just 40km from the world class McArthur River mine.
- Basin remains funded for the next round of field exploration.
The ground electromagnetic successfully identified 3 main targets which confirms the geological and exploration model. Of note is Target 1 (Figure 1), where modelled EM plates below the unconformity align with a sandstone ZTEM anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting. Basin is currently reviewing options and priorities of how to progress exploration of these confirmed targets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Conducting ground geophysical surveys on Marshall and North Millennium was a milestone in advancing these underexplored projects in Basin’s uranium portfolio. The form of these anomalies is highly encouraging given the proximity to some of the world’s largest uranium deposits.”
Key results
Following the encouraging conductive anomalism highlighted by the 2023 3D inversion of two historic airborne Electromagnetics (Z‐Tipper Axis) (“ZTEM”) datasets partially covering the current North Millennium and Marshall projects3,4, Basin contracted Discovery International Geophysics5 to carry out ground Stepwise Moving Loop Transient Electromagnetic (‘Ground EM’) surveys on areas of immediate interest within the Projects.
Figure 1 Three main anomalies shown from 2024 ground EM, in plan view (top diagrams) and cross- section looking northeast (bottom diagram). The ground EM anomalies are displayed with the modelled plates against the historical ZTEM data.
The 2024 Ground EM survey data returned six conductive anomaly picks producing three main target areas (Figure 1). The anomalies correlate strongly with the southern edge of the circular ZTEM conductive anomaly at Marshall and the interpreted northern edge of the circular anomaly identified in the historic data. A weaker EM pick was also interpreted centred between the two prominent ZTEM conductivity anomalies.
Three-dimensional modelling using Maxwell produced six electromagnetic conductive plates within the basement stratigraphy, all below the unconformity (Figure 1). The two southeastern plates are clearly aligning with a conductive sandstone ZTEM anomaly identified from the historic data, which is above the interpreted unconformity. This is interpreted as potential basal sandstone alteration proximal to the EM anomalies and constitutes a high-priority drill target area, refer figure 2.
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.
Airborne EM over Multiple Targets on Ti-Tree Project
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce that an airborne Versatile Time Domain Electromagnetic (VTEM) Max survey will be undertaken at three areas within the 3,600km2 Ti-Tree Project in the Gascoyne Region. The survey is scheduled for August.
- Augustus Minerals has contracted UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Zn-Pb-Ag and Uranium targets along the money Intrusion and within proximity of the prospective 85k long Ti-Tree Shear.
- The surveys will cover:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nics Bore over anomalous Copper Drilling results
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation.
- The Munaballya Well North area which shows potential for economic Uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
Andrew Ford, GM Exploration
“The VTEM survey will provide key targeting data over three highly prospective and different prospects with potential for multiple commodities. Whilst the high prospectivity for copper mineralisation has been well documented, the addition of uranium and Broken Hill base metal style mineralisation highlights the quality of the underexplored Ti-Tree project”.
VTEM
UTS Geophysics has been engaged to conduct a helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer. The transmitter/receiver loop is suspended on a cable approximately 40m below the helicopter (Figure 1).
Figure 1 VTEM Max helicopter deployed electromagnetic survey arrangement.
Figure 2 Prospects and VTEM Survey areas.
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). This extensive mafic intrusion, which is comprised of a variety of lithologies, including gabbro in the core, olivine dolerite on the chilled lower contact or keel and fine-grained dolerite on the outer edges. Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north of E09/23241.
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.
Kihabe-Nxuu Polymetallic Project Silver/Gallium Potential
In response to recent enquiries, Mount Burgess Mining Ltd (MTB:ASX, the “Company”) is pleased to update the silver potential of the Kihabe-Nxuu Project (“Project”) in Botswana. With the recent increase in silver prices and multiple forecasts predicting a structural deficit over the coming years, the importance of the silver content of the Project has increased substantially.
HIGHLIGHTS
- Kihabe Mineral Resource Estimate (21 million Tonnes at 2.0% ZnEq1) estimated to contain 5.4 million Oz of silver.
- Silver currently trading at or near 10-year highs at US$30 per Ounce2 (Figure 1)
- Estimated silver deficit of 215.3 million troy ounces in 20243
- Individual silver intersections at the Kihabe Deposit include:
- 7m @ 984g/t (31.6oz/t) from 97m incl. 1m @ 4,076 g/t (131oz/t) from 97m (KDD114)
- 7m @ 477g/t (15.3oz/t) from 63m incl. 1m @ 1,510 g/t (48.5oz/t) from 65m (KIH007)
- 50 holes in the SW domain, over a strike length of 550m, average 49.7g/t (1.6oz/t) Ag4
- 31 holes in the NE domain, over a strike length of 900m, average 63.67g/t (2.0oz/t) Ag5
- Metallurgical test work underway to determine onsite recovery of Gallium and Germanium not yet included in the Kihabe Mineral Resource Estimate. Kihabe Deposit has a large Exploration Target of up to 100 million tonnes @12 g/t Gallium.
- Gallium currently trading at US$811.2/kg6
The Kihabe Deposit has two significant silver domains with shallow high-grade intersections including 7m @ 984g/t from 97m and 7m @ 477g/t from 63m, previously announced in June 2021. The SW and NE domains require further infill and extensional drilling. The Company is taking this opportunity to update the market by releasing individual metres over 93g/t (3oz/t) in the following tables. Individual metres of 311g/t (10oz/t) and over, are highlighted in green. Refer to attached Figures outlined in Drill Section headings in the table to review the intersections from which the individual metres have been extracted.
The 6 million tonne Nxuu Mineral Resource Estimate, 7kms to the East of the Kihabe Deposit, contains a further 1,040,000 ounces of silver.
The Company is also undertaking metallurgical test work to determine the recovery of Gallium and Germanium onsite. Results will be released once available. Further drilling is required before the Gallium Exploration Target (refer ASX Release 6 July 2023) and Germanium can be included in the Kihabe Mineral Resource Estimate. Gallium and Germanium have been included in the Nxuu Mineral Resource Estimate.
Chairman of Mount Burgess Mining Mr. Nigel Forrester commented:
“The importance of the silver content of the Kihabe-Nxuu Project is supported by its recent significant price increase to 10-year highs. The Company sees this as being positive for the Project as the expectation is that silver demand will continue to increase due to the metal’s green technology use in solar panels, batteries and wind turbines.
The importance of the gallium content of the Kihabe-Nxuu project is also supported by its recent significant 272% price increase to US$811.2/kg since January 2020. The increase is primarily due to gallium nitride chips required to replace silicon chips not able to cope with the increase in heat generated from the increase in 5G communication traffic in computers, laptops and smart phones.”
Click here for the full ASX Release
This article includes content from Mount Burgess Mining 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.
Registration Opens for the Inaugural Mining, Metals and the Circular Economy Conference
Early bird delegate passes are now on sale for the inaugural Mining, Metals and the Circular Economy conference, scheduled to take place at the ICC Sydney on 29 & 30 October 2024.
The launch of this event is timely, as circularity in the mining and metals industry is important for reaching net-zero goals and global decarbonisation, while also addressing the rising demand for minerals required for future technologies and other vital materials.
Organised by Beacon Events, the Mining, Metals and the Circular Economy conference will be co-located with the International Mining and Resources Conference (IMARC), providing attendees with unprecedented access to industry experts and thought leaders in the mining sector, fostering a dynamic exchange of innovative ideas and best practices. What sets this conference apart is that it is the world’s first and only event to explore the global context of process and product circularity throughout the mining industry’s value chain.
Sherene Asnasyous, Event Director at Beacon Events, explained that the strategic development of Mining, Metals and the Circular Economy is about helping mining companies, as well as their customers, partners, and suppliers, better comprehend their roles within the circular value supply stream.
“As a powerful tool to reduce waste and pollution, circularity needs to be a priority for mining producers and their supply chains. It is also crucial for meeting the growing demand for minerals needed for new technologies, construction, and other industries, as it extends the lifespan of metals beyond their initial use. We encourage companies involved in the mining value chain to join us in this forum to explore ways to reduce waste at all stages of a mine site’s lifecycle and capitalise on the economic benefits of extracting valuable materials from waste and metals recycling,” Ms. Asnasyous said.
The introduction of Mining, Metals and the Circular Economy to the mining value chain's events calendar offers businesses a focused and in-depth opportunity to implement circular economy practices as a solution to address the current environmental and supply chain challenges faced by the industry.
“Mining, Metals and the Circular Economy is a valuable opportunity for industry players to come together because no single organisation has all the solutions to applying circularity to their business operations. It requires diverse insights and skills, as well as collaboration, to help find better ways to mine and be more resource efficient. The conference program features international and local experts from leading mining companies, consultancy firms, industry associations, and academia. Our speakers will cover a range of important topics including mine rehabilitation, waste commercialisation, policy and regulation, recycling metals, and circularity tracking and reporting,” Ms. Asnasyous said.
Alan Young, Senior Advisor at Circular Economy Leadership Canada and a panellist on Day 1 of the conference, underscores the importance of implementing circular economy principles across all participants in the minerals value chain.
"With the minerals-intensive reality of the green energy transition, there is an urgent imperative to re-invent the way we access and use metals, from the mine site to their end use in cars, batteries, computers and renewable energy systems. An integrated circular economy framework allows all participants in minerals value chains to contribute to the vision of a zero waste/zero carbon approach to these vitally important materials, while creating a massive economic benefit for society,” Mr. Young emphasised.
Gustavo Roque, General Manager – Future Use at Vale in Brazil, another international speaker headlining the conference, is looking forward to presenting on reclaiming post-mining landscapes to leverage social, economic and natural assets.
“My participation in the event will facilitate valuable exchanges of ideas and foster collaborations that can propel the industry toward more sustainable and efficient practices. Engaging with global experts and leaders at these events aligns perfectly with our objectives to redefine the mining landscape through innovation,” Mr. Roque said.
Other notable presenters and panelists at Mining, Metals and the Circular Economy include:
- Petar Ostojic, Founder, Centre Innovation and Circular Economy (Chile)
- Ashleigh Morris, Co-Founder, Coreo
- Dr. Helen Degeling, Project Acquisition Manager, Cobalt Blue Holdings
- Associate Professor Anita Parbhakar-Fox, Group Leader - Mine Waste Transformation through Characterisation, Sustainable Minerals Institute
- Julian Treger, President, Chief Executive Officer & Director, CoTec (Canada)
- Dr. Ana Fernandez-Iglesias, Director Sustainable Mining Portfolio, ArcelorMittal Mining R&D (Spain)
- Graham Arvidson, Chief Executive Officer, Australian Vanadium Ltd
- Andree Henríquez, Chief Executive Office, CircularTec (Chile)
- Allan Morton, Executive Director, enviroMETS Qld
- Katharine Hole, Chief Executive Officer, Association for the Battery Recycling Industry Australia
- Megan Jones, Co-Founder, Circular PV Alliance
- Lina Goodman, Chief Executive Officer, Tyre Stewardship Australia
In addition to the conference, there will be a supplier showcase allowing delegates to source the latest products and services that can help them transition to circular business models.
Early bird delegate passes are now available and can be purchased at miningcircularity.com.
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Photos to accompany the media release can be found here.
About Mining, Metals and the Circular Economy
The inaugural Mining, Metals and the Circular Economy conference is an invaluable platform for industry stakeholders to gain a comprehensive understanding of the role, impact and benefits of a circular economy across the entire mining value chain. Taking place alongside International Mining and Resources Conference (IMARC) on 29 and 30 October, this is the world's first and only conference with discussions on the global context of both process and product circularity in the mining industry’s supply chain. Mining companies of all sizes and their suppliers and customers will benefit from the conference to better understand the roles they play in a circular value supply stream.
Latest Kameelburg Assays Up To 10.38% Nb2o5 and 9.89% TREO
Aldoro Resources Ltd (“Aldoro”, “The Company”) (ASX: ARN) is pleased to provide an update on the large-scale geological mapping campaign at the Kameelburg Carbonatite Project, targeting priority areas across the southern and eastern margins of the large carbonatite plug.
Highlights
- A total of 74 highly prospective rock samples recently collected from various beforsite and mafic dykes
- Most notable assays reveal up to 10.38% Nb2O5 and 9.89% TREO
- Large scale geological mapping of Kameelberg carbonatite is nearing completion
- Track access clearance & preparation for underground water supplies underway for upcoming maiden diamond drilling programme
Results from recently collected seventy-four (74) samples were received and highlighted the REE rich nature of the carbonatite with TREO(+Y) assays ranging from 1.16 to 9.89%, refer to Figure 1 for samples locations and Table 1 for results.
Figure 1: Southern Carbonatite Margin Geological mapping area with rock chip samples
Niobium Results Along Mafic Dykes
In addition to sampling the carbonatite plug, a further four (4) samples were collected across the Nb dyke zone on the southwest flank of the carbonatite. Results for these samples ranged from 5.44% to 10.38% Nb2O5. This provides additional confidence to previous niobium findings (see announcements dated 28 February 2024 and 27 December 2023). Table 2 compiles the Nb results with Figure 2 depicting recent sample locations in relation to the previous Nb2O5 results.
Click here for the full ASX Release
This article includes content from Aldoro 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.
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