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Canada and Australia: Driving global mining excellence
Australia and Canada have a lot in common when it comes to mining and resources and are critical to the industry’s global transformation.
While both countries are mining super-powers in their own right and are supplying a significant percentage of the resources needed for the global energy transition, they are also using their leadership to guide the global industry’s transition to a sustainable future.
Australia and Canada are recognised as the two largest exploration destinations in dollar value terms, with stock exchanges that reflect the enormous contribution mining and resources makes to each economy.
Similarly, both countries offer substantial and relatively untapped resources, conducive investment environments, supportive governments and well-established plans for the development of the critical minerals needed for the global energy transition.
Because both have a long history of operating in complex environmental and social contexts, they also have extensive experience in sustainable practices and meaningful engagement with First Nations peoples and local communities.
Leading the transformation
This strong shared focus on ESG principles and commitment to contemporary mining practices have seen Canada and Australia emerge in the past decade as key leaders in the global industry’s response to the challenges facing mining globally.
CEO of the Canada Mining Innovation Council (CMIC) Carl Weatherell says the leadership of the mature mining countries such as Canada and Australia are critical to achieving the mining industry’s global environmental goals.
“In order to reduce the mining industry’s energy use, water use and environmental footprint by 50 per cent by 2027, the major players have not only an opportunity but a responsibility to work together on innovations that reduce waste, lower costs and mitigate environmental impacts across all aspects of exploration and development,” he says.
“Canada and Australia are global leaders in the mining industry with decades of experience and innovation behind them, so they have a natural role in leading mining’s transformation to a more responsive, sustainable and resilient industry.
“It’s incumbent on the two countries and their companies to work together to redefine and rethink the future of the industry in terms of in terms of how we collaborate, who we collaborate with and what we work together on.
Coopertition
Mr Weatherell says while the global mining industry is of course competitive by nature, it also has a shared destiny, and by necessity has pursued active collaboration on shared challenges, particularly around decarbonisation.
“We call this ‘coopertition’ and it is one of the reasons events like IMARC are so important when it comes to pursuing these shared goals.”
He believes Canadian and Australian mining operators and innovators have long understood the need for a cooperative effort toward a more efficient, sustainable industry, recognising that these goals can only be achieved if all stakeholders sign up to a clear vision for the future and work towards it together.
“The mining and resources industries in Canada and Australia are leading the way when it comes to embracing the decarbonisation challenge and lending their expertise and experience to countries where they invest.
“As we like to say, net zero is easy; zero is hard. But through exporting their leadership and best practice globally, Australia and Canada are playing a key role in meeting the challenge.”
The same, but different
From an investor perspective, Canada and Australia are considered low-risk jurisdictions, with policies and regulatory settings that welcome, encourage and incentivise exploration and development, particularly of the resources needed to fuel the global energy transition.
As members of the former British Commonwealth, both countries share a similar legal heritage, providing a level of comfort when it comes to assessing risk and a pragmatic approach to managing the energy transition.
Principal and Founder of BRIDGE©, Siri C. Genik, says while both are young countries who offer investors stable jurisdictions, strong legal frameworks, and respect for the rule of law, there are also differences which can impact on the risk appetite for investors.
“We certainly see a consistent approach to issues such as health and safety, environmental and stakeholder management, EDI, governance and more broadly sustainability. Both countries demonstrate best practices in respect of human rights and a commitment to managing the industry’s carbon footprint.
“There are common core values and opportunities for greater investment, but there are differences between both countries, including permitting processes and timelines, and different risk appetites and investment approaches,” Ms Genik says.
She says Australian companies - from mine operators to exploration and METS companies – are looking to Canada as a key source of the critical minerals needed for a renewable future such as copper, nickel, lithium, and graphite.
One such company is the Andrew Forrest-backed Wyloo Metals, which is expanding its operations in Canada with a focus on nickel and copper.
Wyloo Metals CEO Luca Giacovazzi says the company’s investments, particularly in the establishment of a world-class Future Metals Hub in Ontario, underscore his belief in Canada’s long-term potential to be a globally relevant producer of reliable and responsibly sourced battery metals.
“Canada has a once-in-a-generation opportunity to establish itself as a major player in the new economy. Our proposed Future Metals Hub provides the cornerstone for a globally relevant battery material supply chain in Canada, while creating economic opportunities for local communities to thrive.”
But according to Ms Genik, while investment in Canada is at healthy levels, fewer Canadian companies have been investing in projects in Australia. She said this may be a reflection of a global mining and resources industry in transition, with older investment paradigms being challenged and new alliances being formed, particularly around resource supply resilience.
Despite this, she said this shift in globalisation also represents opportunities for Canadian and Australian companies.
“There are new relationships and alliances being formed as nations are increasingly wanting to stand on their own and – to the extent they can – be more self-reliant and work with partners with shared values.
“It’s not just the Russia-Ukraine situation that is driving this, but you're also seeing similar trends across Asia and South America, creating new opportunities for investment for countries like Canada and Australia.
“As the EU is striving to ensure increased sustainable value chains for all products being included in the goods they manufacture, it has been an important game changer. They have adopted a number of very stringent sustainability requirements and regulations that all players in the industry will need to meet if they want their products to be included in products manufactured or assembled in the EU.
“Other nations are striving to also meet these requirements, and again, Australian and Canadian companies can talk to.
“The appetite is still there, the investors continue to seek a return on their investment, but not at any cost, and not always seeking instant gratification. Markets are much more fickle today and more complex, with geopolitics creating challenging dynamics for investors. We are seeing investor expectations go beyond the value of the asset and focussing on a wholistic approach to the company. Investors want to make sure that they're understanding and including these non-technical risks and that they understand what impact and purpose is.
“The opportunity for Canada and Australia is to continue to position themselves as sustainable leaders to be successful in this era of shifting and transition.”
Canada comes to IMARC 2023 in Sydney
Canada will continue its long association with the International Mining and Resources Conference (IMARC) being held in Sydney, Australia this year with a delegation promoting the country’s vision to be the leading mining nation in the 21st century.
The delegation promises to be the largest ever and includes Canadian companies showcasing their products and services to the global mining and resources market, particularly in the Asia Pacific region, and a team from Global Affairs Canada promoting investment opportunities for companies to establish or expand their operations in Canada.
Senior Investment Officer at Global Affairs Canada, Bertrand Raoult, said Canada provides a highly competitive value proposition for investors.
“Canada is a global mining leader, producing over 60 minerals and metals and home to advanced exploration projects for lithium, rare earths, and other critical minerals the world needs for a cleaner future. We have strong mineral exploration, mining and mineral processing sectors and these are attracting downstream manufacturing, as we are moving toward vertically integrated supply chains,” he said.
Mr Raoult said Canada is one of the most mining-friendly jurisdictions in the world and supports the sector through generous programs and incentives, competitive tax policies, a rich innovation ecosystem and Free-Trade agreements that give investors access to more than 50 markets.
“But it is perhaps our environmental, social and governance expertise that truly sets Canada apart from competitors. Thanks to generous programs, our minerals and metals sector industry is adopting clean and cutting-edge technologies to make mining and processing greener, safer, smarter, and more efficient.
“As a result, Canada has one of the lowest ESG risks across global mining projects on average performing particularly well in categories such as water usage, community engagement, conservation and governance.”
The Canadian Critical Minerals Strategy highlights the importance of mining and resources to the nation’s global competitiveness and prosperity. The industry accounts for 626,000 direct and indirect jobs and is the largest employer for Indigenous Peoples and 19 percent of Canada’s total domestic exports, and approximately $47 billion in mineral production come from mines and quarries across all regions.
Mr Raoult said: “Canada’s vision is to responsibly develop its geological resources, including critical minerals, advance the participation of indigenous peoples, ensure sustainable mining and rehabilitation practices, drive world-leading innovation, build community support for sustainable mineral development and attract underrepresented groups to this high-tech sector that is key to a green economy.”
The International Mining and Resources Conference (IMARC) is returning to the ICC Sydney from 31 October – 2 November 2023. As one of the world’s largest and most influential mining events, IMARC creates a global conversation that attracts some of the most influential leaders in the mining, investment, and METS for three days of learning, deal-making and unparalleled networking.
IMARC Chief Operating Officer Anita Richards said IMARC 2023 is the ideal opportunity for countries like Canada to attract investment, showcase their expertise and engage with mining and METS companies, investors and suppliers to collaborate and develop business opportunities.
She said it was particularly encouraging to see large delegations from the resource-rich Canadian provinces of Ontario and Quebec, which demonstrated the importance that not only national but state and local governments are placing on IMARC as a key forum for investment attraction.
“In fact, we are seeing a similar trend with Australian state governments, who will also be at IMARC 2023 in unprecedented numbers, focusing on the unique opportunities that each offer.
“For its part, Canada has a great story to tell about as a stable and attractive destination for global investment in the resources the world needs for a cleaner future, and the expertise and leadership it can offer to a transitioning global industry,” Ms Richards said.
“IMARC is designed to provide a forum to explore these opportunities and to showcase the best and latest knowledge, innovation, and growth that benefit the whole value chain.
“Standing alongside Australia as one of the world's largest mining nations with significant role in the future of resources, Canada has always been a strong partner of IMARC throughout our 10-year history and we are delighted to welcome them back once again.”
Investor Presentation Fiery Creek Georgetown
FIERY CREEK COPPER PROSPECT
- Georgetown Project Queensland
- Fiery Creek Copper Prospect
- 29 square kilometre Yataga Granitoid Intrusive Complex
- Identified as potential massive scale constrained copper porphyry system
- Targeting millions of tonnes of contained copper in “pencil porphyry style” Cadia type system
- 1,000 mines, prospects, mineral occurrences in Georgetown District
- 3 exploration permits covering 850km2
- Significant historical gold production, very little systematic modern exploration
- Gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite
- 8 potential scale prospects gold, copper, silver lead identified to date
- 23% copper, 14 ounces silver (460 g/t)* from rock samples in quartz breccia hosted veins at Fiery Creek
- Hosted within the massive Yataga Granitoid Complex
- 1600m x 750m outcropping copper veining up to 2m wide
- Interpreted shallow constrained, scale porphyry copper system
- Veining has extensive secondary copper mineralisation at surface
- Multi element assays point to possibility of a significant copper polymetallic system
- Pathfinder element anomalism widespread
- 2 geochemistry surveys completed by EMU
Click here for the full ASX Release
This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EIS Grant for Minnie Springs Copper Porphyry Drilling
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise the grant of a co-funded EIS drilling grant of up to $110,000 for the Minnie Springs Cu-Mo project in the Gascoyne Region. Augustus thanks the State Government and DEMIRS for supporting exploration in Western Australia with these grants.
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activity Report 31 March 2024
EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to report on its activities for the quarter ending 31 March 2024.
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 31 March 2024
Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to provide its quarterly report for the period ending 31 March 2024 (the Quarter).
HIGHLIGHTS
WEST MUSGRAVE COPPER PROJECT (100% RDS) – WEST MUSGRAVE, WESTERN AUSTRALIA
- Redstone currently planning work programs to advance its copper exploration strategy at its 100% owned West Musgrave Project in WA
- Foundation set for growth ‐ existing copper resource base at West Musgrave:
- Tollu copper vein deposit with a resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper (ASX announcement of 15 June 2016).
- Significant drilling intersections of high‐grade Cu mineralisation at the Chatsworth and Forio Prospects within Tollu (dating back to 2017) are yet to be included in the existing JORC 2012 resource estimate.
- Significant and consistent high‐grade copper results at depth and to the surface at Tollu:
- Most recent drilling at Chatsworth intersected 11m at 1.2% Cu from only 29m downhole (TLC205), extending the previously intersected high‐grade copper lens a further 20m towards the surface.
- Together with prior drilling, TLC205 also confirmed the targeted high‐grade Cu lens at Chatsworth has the following encouraging characteristics:
- Up to 26m thick (downhole) and has a consistent Cu grade over 1% Cu;
- Extends over 140m vertical from TLC205 to its deepest intersection to date in TLC188;
- A consistent high average grade of over 1% in numerous holes; and
- Remains open at depth
- Historical Cu intersections at Chatsworth include mineralisation that continues from the surface to the maximum vein intersection depth at over 424m (downhole), where grades of 3.73% Cu over 10m, including 5m at 5.3% Cu from 427m (downhole), still continue and are not closed out
- Drilling at the Forio Prospect, which included the highest grade intersection ever recorded at Tollu, being 1m at 18.5% Cu from 18m downhole (TLC203) within an intersection of 8m at 4.1% Cu from 13m downhole, extend Forio’s high grade Cu mineralisation zone at Forio to a 60m strike length (north and south) of continuous high grade copper.
- The high grade Forio Cu Zone extends all the way to the surface with lenses of Cu mineralisation up to 34m thick (downhole) with average grades always over 1% Cu (34m at 1.04% Cu from 15m downhole in TLC181)
- Nearby to major BHP deposit: Tollu copper deposit is located 40km east of BHP’s world‐class Nebo‐ Babel Ni‐Cu‐Co‐PGE deposit ‐ estimated to have a resource of 390 million tonnes grading 0.33% copper and 0.30% nickel, for 1.2 million tonnes of contained nickel metal and 1.3 million tonnes of contained copper metal
- Redstone has been successfully awarded a $220,000 drilling grant from the DMIRS under the Round 29 Exploration Incentive Scheme (EIS) – grant will co‐fund a single deep drill hole of approximately 1,000m at the Chatsworth Prospect at Tollu
Click here for the full ASX Release
This article includes content from Redstone Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Metals Australia Quarterly Activities Report - to 31 March 2024
Metals Australia Limited (ASX: MLS) (“Metals Australia”, the “Company” or “MLS”) is pleased to report its activities for the quarter ended 31 March 2024 (“Quarter”):
Highlights
- Highly experienced Mining Executive, Paul Ferguson commenced employment with the Company, as Chief Executive Officer on January 22nd, 20241. Paul’s commencement has enabled the Company to significantly advance planning and preparation for the exploration, metallurgical test work programs and design studies required to move its flagship Lac Rainy high-grade graphite project towards development. Contract awards for key programs and studies are imminent and will be announced during May.
- The Company completed a $3.5M AUD2(before costs) capital raise to support funding of its planned exploration programs in Quebec, Canada. The raise was completed at a 40% premium to the prevailing stock price and utilised the Canadian Federal Governments exploration tax incentive program (Flow Through Shares). This program is provided by the Canadian Government to help stimulate mineral exploration investment by providing increased tax incentives to investors who support companies exploring for critical minerals. The Company has subsequently noted announcements in the April 16th Canadian Federal Govt budget of changes likely to negatively impact these investor incentives from June 25th. Having completed the capital raise, the Company has ensured it has sufficient funding to achieve its exploration and development objectives.
- Company representatives, including its CEO, hosted an investor booth at PDAC3(Prospectors & Developers Association of Canada) Mining convention in Toronto March 3rd to 6th. The convention was hugely successful with significant contacts and connections established, who have expressed their interest in our project. Connections made include government representatives, fund managers, investors and a wide range of technical services and engineering companies covering all aspects of the study programs required to advance the companies projects. This helped raise the profile of our Company’s flagship Lac Rainy project, along with our other Quebec based projects. Follow up meetings with the government and supportive, Quebec based, exploration and project investment funds has further enhanced our profile in Canada.
- The Company held strategic planning workshops in Australia and Canada to review the extensive portfolio of high-quality exploration tenements held by the group. Strategic plans and priorities were developed for each project and plans are advancing to progress further exploration and metallurgical test programs. The Company is also investigating additional exploration or project opportunities where they add scale or accelerated pathways to development. The balance of the financial year will see further announcements, outlining plans.
Click here for the full ASX Release
This article includes content from Metals Australia, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Basin Energy (ASX:BSN) is pleased to announced its mining exploration entity or oil and gas exploration entity quarterly cash flow report.
Click here for the full ASX Release
This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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