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Historical Gold Mineralisation identified at Flicka Lake
Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to report the completion of a detailed desktop review of historical exploration at Flicka Lake, part of the Company’s 100%-owned Fry Lake Gold Project in Canada. The review identified three gold bearing parallel quartz veins, validated by Troon Ventures Ltd using channel and grab samples taken from mineralised quartz zones exposed in trenches.
HIGHLIGHTS
- Recently completed desktop study has identified three parallel quartz veins, which have been targeted with grab rock samples at Flicka Lake Project in Canada
- Historical exploration identified gold bearing channel samples including 9.96 g/t Au and 12.96 g/t Au
- Previously reported grab samples included 17.88 g/t, 7.38 g/t and 20.07 g/t of Au
- Flicka Lake Gold Sampling Program Assay Results expected to be received shortly
While gold mineralisation has shown to be historically reported in the area, reportable validation sampling was completed in 2002 and 2006. Previous exploration targeted the Flicka Lake area based on the proximity to the Golden Patricia Mine located 25 km to the Northeast, where a shear hosted quartz vein averaging less than 40cm in width had been mined. The review identified the following results.
Grab sampling:
- At Vein #1, reported up to 17.88 g/t Au
- At Vein # 2, reported up to 7.38 g/t Au
- The best exposed zone, Vein #3 reported the highest assay result of 20.07 g/t Au
Channel samples:
- At Vein #2, reported up to 12.96 g/t Au
- At Vein #3, reported up to 9.96 g/t Au
The occurrence at Flicka Lake consists of 3 gold-bearing structures of limited extent hosted by gabbroic rocks that strike perpendicular to the main shear zones in the area and dip 55° to 65° to the east. The veins pinch and swell (up to 30 cm wide) and are hosted in discrete, highly strained, carbonate-actinolite-tourmaline arsenopyrite altered zones (~1.5 m wide). Refer to Figure 1 and Table 1.
RMX acquired the Flicka Lake claim, 855170, over the mineralised veins and has since undertaken due diligence with 11 rock and 11 soil samples collected within the claim boundary, Map 2.
Figure 1: Flicka Lake Claim area with historical channel and grab samples results in ppm Au (equivalent to g/t Au)
RMX has since completed its maiden sampling program at Flicka Lake, part of the Fry Lake Gold Project in Ontario, Canada. Results are expected shortly for 283 soil and 91 rock chip samples over its Flicka Lake claims which included due diligence sampling at the Flicka Lake gold bearing quartz veins as well comprehensive sampling over the claim area’s structural and geophysical targets (Figure 2 & Tables 2/3). The review has identified additional key target zones for anomalous copper towards the Northern portion of Flicka Lake. The Lab analysis, of which results are due to be received shortly, includes a gold and base metals suite also attempting to define areas for copper mineralisation.
Figure 2: Sampling targets based on geological, structural, geophysical and historical sampling data.
Background
The Flicka Lake claims lie within the Meen-Dempster Greenstone Belt and is one of four recently acquired claim packages (Figure 3) considered prospective for gold. The four 100% RMX owned properties, named Flicka Lake, Fry Lake Stock, Fry-McVean Shear and Relyea Porphyry or collectively the Fry Lake Projects, hold potential to host gold lode mineralisation based on targeting and the known deposits in the broader area. The Fry Lake Projects are located in the Uchi region, a prolific mineral belt which has produced 32Moz Au to date1.
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This article includes content from Red Mountain Mining, 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 Activities Report for Period Ended 30 September 2024 and Appendix 5B
Copper production and Metallurgical Test Results
Tartana Minerals Limited (ASX: TAT) (the Company), is pleased to announce it had achieved a strong quarter with higher production levels providing revenue in excess of A$1 million for the quarter. Production has continued during October with the production of more than 135 tonnes and we are targeting at least two shipments by month end.
Highlights:
- Sales revenue increasing: cash receipts of US$725K (A$1,039k) on sales of 295 tonnes of copper sulphate pentahydrate during the quarter.
- Tartana D15 assays confirm board zones of copper mineralisation including 76 m @ 0.60% Cu, 178 m @ 0.40% Cu or 221 m @ 0.35% Cu, - all from 31 m depth downhole.
- Excellent flotation copper recoveries (89%) from whole ore to saleable copper concentrate grading 21 % w/w Cu when testing a sample that was below the resource grade average.
- Bulk sample ore sorting results indicate that using this process will result in a 72% grade increase and recover 71% of the contained copper.
- New EPM 29119 application (Caldera Rim) east of Tartana mine site and complementing the recent Bottle Bird application (EPM 29067) near the Company’s Nightflower Silver project.
- Potential merger with Queensland Strategic Metals Pty Ltd to provide exploration tenure with exposure to critical and strategic metals (tin, tungsten, antimony) including two new copper projects.
With the positive results the Company is completing a Scoping Study incorporating options to potentially use nearby plants and/or develop a large scale plant at the Tartana mine site and which is separate from the existing copper sulphate pentahydrate production facility.
Our exploration activities are progressing as we establish a significant presence in Far North Queensland. We have recently lodged two new EPM applications (Bottle Bird and Caldera) in areas east of Tartana and which are The Company has proposed a merger with Queensland Strategic Metals Pty Ltd which requires shareholder approval. This entity has portfolio of exploration tenements covering tin, tungsten, antimony and copper prospects which will complement Tartana Mineral’s existing exploration portfolio. In particular, it holds a group of tenements on the southern part of this caldera chain which covers the tin fields including areas which have been held tightly for decades. These tenements abut Tartana Mineral’s own Emuford application, and which provides the Company with a dominant position in this prospective region.
A key prospect is Daisy Bell which rises above the surrounding plain and hosts tin, tungsten and copper mineralisation which appears continuous along strike for more than one kilometre. Elsewhere, the Ortona project south of Georgetown has high grade copper at surface in a series of parallel veins with nickel and cobalt mineralisation present in some of the more easterly veins (see ASX release dated 18 October 2024).
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This article includes content from Tartana Minerals 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.
Quarterly Activities Report for the Period Ended 30 September 2024
HIGHLIGHTS FOR QUARTER
- Vertex has identified major benefits for utilising pre-concentration technology at its Reward high grade gold mine.
- Ore sorting pre-concentration test work was initiated with leading ore sorting provider TOMRA with outstanding results.
- 94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results were reported1;
- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,
- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),
- Ore/waste split after sorting = 1G.31kgs Ore vs 74.54kgs Waste (7G% mass reduction),
- Gold lost to waste fraction = 0.03grams (>G0% efficiency)
- Refurbishment of the plant is well underway, and Vertex anticipates that the plant will be re-installed at Hill End later this year. The Company anticipates production will commence in January 2025
- Vertex acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource
ORE SORTER TEST WORK AND IMPLEMENTATION INTO THE HILL END GRAVITY PLANT
- Pre-concentration technology initiated at the Hill End Gravity Plant to separate high- grade ore from waste before it enters the processing plant.
- By processing only high-grade ore, energy consumption can be reduced, water consumption will be halved leading to lower operating costs and reduction of the carbon footprint.
- The small sorting unit will be simply incorporated in the existing plant being refurbished by Gekko
- Previous scoping test results from TOMRA suggested that the Greywacke country rock can be efficiently and effectively separated from the high-grade quartz carrying the gold leading to significant head grade uplift and reduced material to be processed.
Test Results
- 94kg of sample from the low-grade stockpile at Reward Gold Mine (Reward) was sorted. The following results are reported;
- Head grade to Sorter weighted average grade (WAG) = 3.70 g/t gold,
- Ore grade WAG after sorting = 16.22g/t gold (337.20% increase on grade),
- Ore/waste split after sorting = 19.31kgs Ore vs 74.54kgs Waste (79% mass reduction),
- Gold lost to waste fraction = 0.03grams (>90% efficiency)
Refer to VTX ASX Announcement 26th July 2024
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This article includes content from Vertex 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.
Ǫuarterly Activity Report 30 September 2024
Emu NL (ASX: EMU or the Company) is pleased to report on its activities for the quarter ending 30 September 2024. Throughout the quarter, EMU continued to advance its exploration programme at the Yataga Copper Project at Georgetown, in North Ǫueensland.
Highlights
- Updated geological modelling with multiple intra-pluton porphyry copper centres close to surface identified from surface geochemical surveys within the Yataga Copper Project
- Porphyry centres concentrated along a structural belt have been identified as analogous to the Highland Valley Copper Mine, where a series of porphyry copper deposits host Canada’s largest open pit copper mine (production of >130kt in 2021)
- Termite mound sampling programmes have identified a combined area of 8km2 of copper-in- soil anomalism with significant potential for expansion
- 220-line km airborne electromagnetic survey complete with results pending
- 20+-line km ground based Pole-Dipole Induced Polarisation (PDIP) and Magnetotelluric (MT) Survey underway
- Geochemistry and geophysics programme results will feed into upcoming optimised drilling program planned for early 2025
- Acclaimed ǪLD geologist, Dr Gregg Morrison appointed as Technical Advisor to the Project
- $1.5M Placement underway through issue of 61M fully paid ordinary shares at $0.025 per share to sophisticated and professional investors
Located within the Georgetown mining district, EMU’s Georgetown tenements cover a richly endowed but under-explored area of Far North Ǫueensland with a history of significant mining activity and mineral discoveries.
EMU is earning an 80% interest in 3 exploration permits for minerals (EPM’s), covering 850km2 in the Georgetown mining district, Ǫueensland, under a Heads of Agreement and Joint Venture Agreement with Rugby Resources Ltd (TSXV:RUG). The district has a substantial mineral endowment with more than 1,000 mines, prospects and identified mineral occurrences.1
Figure 1. Georgetown Tenements Location
Definitions and Nomenclature
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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 Activities Report for the Period Ending 30 September 2024
Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”), holds an extensive tenement portfolio in Australia and Argentina with the focus being uranium and gold. In Western Australia, the Company has commenced drilling on its Proterozoic unconformity style uranium project, whilst in Argentina, field programmes are well underway on the Sierra Cuadrada sandstone hosted uranium project and the Cerro Chacon low sulphidation epithermal gold project (Figure 1).
Key Highlights
- Reverse Circulation drilling commenced on the Ashburton Proterozoic unconformity uranium project in Western Australia. 7 drill holes were completed in the September Quarter for a total advance of 1028m.
- Equivalent U3O8 concentrations from this phase of Ashburton reverse circulation drilling have been calculated from downhole gamma surveys, and include:
- ARC001 6.98m @ 1,617 ppm eU3O8 from 101.84 meters
- ARC002 4.36m @ 2,205 ppm eU3O8 from 109.89 meters
- ARC003 3.96m @ 1,516 ppm eU3O8 from 86.89 meters
- ARC004 6.02m @ 801 ppm eU3O8 from 83.55 meters
- ARC006 3.45m @ 5,129 ppm eU3O8 from 137.62 meters incl 0.34m @ 16,050 ppm eU3O8 from 139.11 meters
- ARC007 1.30m @ 503ppm eU3O8 from 123.37 meters
- Drilling on the Ashburton Project is ongoing with RC and Diamond drilling during the December Quarter
- Two geophysical surveys (IP and magnetics) have been completed at Cerro Chacon in Argentina and the Company is awaiting the final interpretation.
- Auger drilling at Sierra Cuadrada highlights extensive areas of near surface uranium mineralisation: the largest being 6km long and 3km wide and remains open.
- Mineralisation varies in thickness from 0.5m to 4m, with an average thickness 1.5m.
- Multiple areas are being evaluated to identifying priority areas for follow up trenching, mapping and determination.
- An additional 39 tenement applications for uranium exploration have been lodged in Argentina totalling 1785km2. Tenements are located in the provinces of Rio Negro and Chubut. Tenements are prospective for sandstone hosted uranium mineralisation and include both hard rock and in-situ recovery targets.
- The Company has established an experienced in country team with the appointment of country manager, project managers and geologists for both gold and uranium.
Figure 1: Locality maps highlighting Piche’s Australian Projects in Western Australia and its Argentinean
Australia – Uranium - Ashburton Project
A reverse circulation drilling programme commenced on the Ashburton uranium project during the September Quarter. A total of 7 drill holes were completed during the quarter for a total advance of 1028m. The reverse circulation drilling is ongoing, and a diamond drilling programme will also commence early in the December Quarter.
The September Quarter drilling programme was undertaken at, and along strike of the Angelo A prospect where no exploration activities have been carried out in the last 40 years. The drilling programme was planned to confirm the results from previous exploration by drilling several twin holes, to test a revised model for the control of the uranium mineralisation and explore for extensions to the mineralisation identified between 1973 and 1984.
Results from the first seven reverse circulation drill holes completed have been received and six of those have returned significant high grade uranium mineralisation.
Drilling is targeting Proterozoic unconformity style uranium mineralisation, similar to that seen in two of the most significant uranium jurisdictions in the world: the Pine Creek Geosyncline in Australia and the Athabasca Basin in Canada.
Drilling was preceded by a detailed heritage clearance survey.
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This article includes content from Piche 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.
September 2024 Quarterly Activities Report
Manuka Resources Limited (“Manuka” or the “Company”) is pleased to provide the following report on its activities during the quarter ending 30 September 2024.
Highlights
During the Quarter
- Priority focus was directed towards progressing the installation of a processing and gold doré production facility on-site at Manuka’s 100% owned Mt Boppy gold project (Mt Boppy).
- An updated production plan for Mt Boppy was released on the ASX on 30 September 2024 highlighting increases in forecast recovered gold ounces and EBITDA.
- On 20 September 2024, the Company announced that it had secured an extension in the repayment of its debt facility to its Hong Kong based lender.
- Manuka mandated Proactive Mining Solutions to complete pit optimisations at Wonawinta fundamental to the Company bringing out its Maiden Silver Reserve (which was released on the ASX on 29 October 2024).
- The Company’s wholly owned subsidiary, Trans-Tasman Resources Limited’s (TTR), now has its world-class Taranaki VTM Iron Sands Project included as a Listed Project within New Zealand’s Fast Track Consenting Bill. The ‘one-stop- shop’ legislation is proposed to streamline government decision making and major project approvals process to facilitate the delivery of projects with significant regional or national benefits.
- In May 2024 the NZ Minister for Resources launched a “Draft Minerals Strategy for New Zealand to 2040”1, in August the Ministry of Business, Innovation & Employment (MBIE) released its commissioned GNS Science Report on the Mineral Potential of New Zealand and in September the Wood Mackenzie draft Critical Minerals List was released. These MBIE reports provide the government with the key information on the potential to develop major natural resource projects in New Zealand.
- NZ’s government identifies the minerals sector as a big opportunity to double the sector’s export value to over $2 billion over 10 years. One of the key new mineral opportunities identified in the MBIE Strategy are the offshore deposits of iron sands, containing vanadium and titanium in the South Taranaki Bight, 100% controlled by TTR.
Post Quarter End
- On 6 October 2024 the Taranaki VTM Project was included in Schedule 2 of the Fast Track Approvals Bill released by the New Zealand government. Schedule 2 projects are considered to meet the Bill’s purpose, are of regional or national significance and will now be considered by an Expert Panel to set conditions and final environmental approvals.
- Following the Environment Select Committee review, the revised Fast Track Approvals Bill was reported back to Parliament on 18 October 2024. The Bill is now due for its second reading in early November 2024 and enacted into law before the end of the year.
- On 29 October 2024, the Company released the Wonawinta Maiden Silver Ore Reserve under Manuka ownership, comprising 4.8Mt at 53.8g/t Ag containing 8.4Moz of silver
Dennis Karp, Manuka’s Executive Chairman, commented:
The Company continues to focus on the installation of a plant at its 100% owned Mt Boppy gold project and bringing the project into production. To date plant feed for processing has been trucked to our Wonawinta plant, which is a little over 150km away. Haulage savings (currently it costs $30/t to truck from Mt Boppy to Wonawinta) and general cost benefits arising from on-site processing, makes the economic justification for this decision clear cut.
Our recently released Maiden Silver Ore Reserve for our 100% owned Wonawinta silver project essentially provides additional precious metals optionality to the Company. Furthermore, it opens up the potential of adding a second revenue stream during 2025, further increasing our exposure to precious metals. Manuka is clear in its plans on initially bringing the Mt Boppy gold project back into production and only once steady state production is achieved, will the Company then continue with the restart of the Wonawinta silver project (subject to updated commercial modelling and silver price sentiment).
Manuka Resources is the holder of granted mining leases on three separate projects – our two Cobar Basin precious metals projects as well as our New Zealand domiciled VTM project. This is quite unusual for a company of our size and presents us with an enormous opportunity. We have a clear vision focused on achieving profitable gold and silver production from what will be two separate plants, while reducing our external debt obligations and simultaneously laying the platform for fully funded exploration and resource expansion. We also look forward to the NZ government passing the fast-track consenting approvals legislation by the end of the year with great anticipation and optimism. Our Taranaki VTM Project has been selected as a listed mining project of national significance to be considered for approval under the legislation when passed. The ongoing public statements from the National-led coalition government are very positive towards finally clearing the consenting pathway which to date has restricted our 100% owned world class vanadium rich iron sands project from getting into production.”
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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.
Antilles Gold Quarterly Report & Appendix 5B – 30 September 2024
DEVELOPMENT OPPORTUNITIES IN MINERAL RICH CUBA
Antilles Gold is participating in the development of two mines in Cuba to produce copper, gold, silver, and antimony, and in the exploration of potentially large porphyry copper properties, through a 50:50 joint venture with the Government’s mining company, GeoMinera.
The joint venture intends to fund the copper exploration from surplus cash flow expected to be generated by the near-term development of the proposed Nueva Sabana copper-gold mine.
- JOINT VENTURE
Minera La Victoria SA (“MLV”) was registered as a Cuban foreign joint venture mining company in August 2020 to develop the Country’s largest known gold deposit at La Demajagua on the Isle of Youth off the south-west coast.
MLV has since committed to progressively establishing itself as a broadly based mining company to develop previously explored mineral deposits controlled by GeoMinera. To date, the Nueva Sabana project and four concessions hosting porphyry copper prospects have been added to its portfolio.
Features of the Joint Venture include:
- A foreign Bank account will hold all proceeds from loans, and product sales, with the only funds remitted to Cuba being for local expenses, which will minimise Country credit risk.
- Antilles Gold nominates all senior management for the operations and exploration activities.
- Income tax rate of 15% waived for 8 years.
- No import duties on plant & equipment.
- Low entry cost for near term development of previously explored properties.
- Low operating costs.
- Association with GeoMinera ensures rapid permitting.
GeoMinera transferred a 900ha mining concession for the La Demajagua gold-antimony-silver open pit mine with 50,000m of historic drilling to the joint venture for US$13.5 million of MLV shares, and a 752ha concession covering the Nueva Sabana gold-copper oxide deposit, and the underlying El Pilar porphyry copper system for US$1.5 million of MLV shares.
A subsidiary of Antilles Gold is “earning-in” to a 50% holding in MLV by contributing US$15.0 million equity, of which approximately US$14.6 million had been invested to 30 September 2024, with the balance to be contributed in November 2024.
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This article includes content from Antilles 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.
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