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Comet Ridge Limited (ASX:COI) is pleased to advise that the Mahalo JV participants (Comet Ridge 57.14% and Santos 42.86%) have executed an agreement with Jemena Queensland Gas Pipeline (1) Pty Ltd and Jemena Queensland Gas Pipeline (2) Pty Ltd (collectively, Jemena) to undertake Front End Engineering Design (FEED) on a new Mahalo Gas Hub Pipeline (MGHP).
Key points:
- The Mahalo Joint Venture has engaged Jemena to undertake Front End Engineering Design (FEED) on the planned Mahalo Gas Hub Pipeline (MGHP) to connect the Mahalo JV Project to the Queensland Gas Pipeline (QGP) and GLNG Pipeline.
- Jemena is currently funding the Pipeline FEED cost.
- The Pipeline FEED will run in parallel to the Mahalo JV Project Upstream FEED (announced 6 Dec 2024).
- Jemena operates a diverse portfolio of energy assets in northern Australia and Australia’s east coast, including the QGP which runs between Wallumbilla and Gladstone in Queensland.
- Jemena may construct the MGHP on a build own and operate basis following completion of FEED and subject to achieving a final investment decision (FID).
- This is a significant step in Comet Ridge’s plans to develop meaningful gas supply to fill the looming supply gap for gas in Australia’s east coast energy market.
The proposed MGHP will be a DN250 (10 inch) Class 900 pipeline, connecting the planned Mahalo JV compression facilities to the Queensland Gas Pipeline (owned and operated by Jemena) and the GLNG Pipeline. It is proposed, subject to FID, the MGHP will connect the Mahalo JV’s gas fields and processing facilities to the gas market hubs of Gladstone and Wallumbilla in Queensland (see Figure 1).
Jemena may construct the MGHP on a build, own and operate basis once Pipeline FEED is completed and subject to the Mahalo JV Project FID. Jemena is currently funding the cost of the Pipeline FEED which is intended to be rolled into the total pipeline construction cost assuming Jemena proceeds with construction of the MGHP.
Comet Ridge Managing Director, Tor McCaul, said:“Commencing Pipeline FEED is an important milestone for the Mahalo JV Project. All workstreams are now being progressed to enable a final investment decision to be reached at Mahalo, which is well positioned to contribute as a near-term solution to the growing strain on east coast gas markets.
“We are especially pleased to commence this relationship with Jemena, a high-quality pipeline operator in Australia that provides regional synergy to Comet Ridge for the transport of gas to key gas market hubs on the east coast.”
Figure 1: Mahalo Gas Hub assets and proposed path of pipeline corridor connection to existing pipelines and domestic and LNG markets in Queensland
About Jemena and the Pipeline FEED
Jemena owns and operates a diverse portfolio of energy assets across northern Australia and Australia's east coast. With more than $12.4 billion worth of major utility infrastructure, Jemena supplies millions of households and businesses with essential services every day. Jemena has more than a century’s experience and expertise in the utilities sector and a strong portfolio of high-quality distribution and transmission assets, with a focus on opportunities for growth and innovation in its operations.
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Agreement Executed with Mark Creasy Over Peninsula Propsect
HIGHLIGHTS
- Prominent prospector and major shareholder Mark Creasy applies for several Special Prospecting Licences over Peregrine’s high grade Peninsula Prospect
- Binding agreement executed permitting access to enable the potential extraction of gold material down to 50m vertical depth
- Net proceeds recovered to be split in favour of Peregrine on a 60/40 basis
Figure 1: Map of SPL locations over the Peninsula prospect (E52/3850)
Figure 2: Location of Peninsula prospect within Newman Gold Project
Subject to the grant of the SPL, the Agreement stipulates the exploitation of precious metals can proceed under the following conditions:
- Any expenditures incurred in the process of exploitation are to funded by Mark Creasy and will be deducted from the value of any gold recovered (Net Value);
- The Net Value of any gold recovered (cash or physical form) to be divided 60/40 in favour of Peregrine;
- The SPL cannot be converted to a mining license and may not be advanced beyond 50m vertical depth from surface;
- Commencing from execution, the Agreement has a maximum term of three years and nine months;
- While Mr Creasy is responsible for and managing the SPL, as part of the Agreement, all activities are to be coordinated with Peregrine so that any significant mineralisation identified will be reported to the market in accordance with the Company’s continuous disclosure policy.
Having had a history of demonstrating spectacular shallow gold intercepts (Figures 3-6) (ASX Announcement: 5 August 2022), the Agreement recognises the significant potential of the Peninsula prospect and due to the Agreement being free carried through to gold monetisation, potentially provides the Company a pathway to generating cashflow at a time when the Australian gold price continues to reach all-time highs.
Technical Director of Peregrine Mr. George Merhi commented:
“It’s a pleasure to partner with a supportive shareholder with arguably the best track record for discovery and value creation in Australia on an initiative that will greatly advance our understanding of the geological potential of the Peninsula prospect. We look forward to updating shareholders once the SPL is granted.”
Figure 3: Peninsula Prospect - At surface drill core photo of ‘Hole A’ (ASX Announcement 5 August 2022). To assist with mineralogical and textural studies at the Newman Project, Hole A was not split and assayed for gold (ASX Announcement 12 January 2023)1.
Figure 6: Peninsula Prospect gold vein looking south-east1
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RareX Discovers High Grade Gallium at Cummins Range
Highlights
- Historical drill holes contain values up to 6,826 g/t (0.68%) Ga2O3
- Significant Gallium Intercepts include:
- 99m at 106 g/t Ga2O3, 0.77% TREO and 160 g/t Sc2O3 from 1m
- 60m at 124 g/t Ga2O3, 3% TREO and 372 g/t Sc2O3 from 36m, Incl. 12m at 242 g/t Ga2O3, 6.7% TREO and 638 g/t Sc2O3
- 74m at 123 g/t Ga2O3, 2.4% TREO and 186 g/t Sc2O3 from surface, Incl. 30m at 206 g/t Ga2O3, 4.6% TREO and 310 g/t Sc2O3
- Research suggests these are the highest grade gallium assays reported in Australia
- Only 25% of the historical drilling has been assayed for gallium with none of the RareX drilling assayed for gallium – this discovery immediately elevates Cummins Range to the most advanced gallium deposit in Australia
- Gallium is on the critical mineral list for Europe, America and Australia and, with the growth of electronics, semi-conductors and solar panels, it is anticipated the gallium market will grow significantly from US$2.45B in 2024 to US$21.53B by 20341
- Re-assaying of samples is underway
CEO and Managing Director, James Durrant, commented:“The gallium results are an unexpected boost for the Cummins Range deposit, coming from a deep dive reassessment of the deposit in readiness for the 2025 drilling season on the near-mine anomalies. Gallium is on the critical minerals list of every major economy, including the United States and Australia, yet there are no significant Western producers. China controls 98% of the market and has imposed a comprehensive ban on all gallium exports.
“The Cummins Range deposit has been significantly de-risked through advanced heritage agreements, environmental and infrastructure studies, and mine planning. This ne aspect to Cummins Range immediately escalates this project to the most advanced gallium deposit in Australia. We look forard to conducting further studies to determine ho gallium can be integrated into our rare earth and phosphate development plans.”
Most of the world’s gallium is produced as a byproduct of aluminium and zinc refining. Gallium grades are generally classified as follows: low-grade (30–50 g/t), moderate-grade (50–100 g/t), and high-grade (>100 g/t). Initial assessments have identified a moderately mineralized area of 500m x 500m, with higher grade zones occurring within and near high grade rare earth and scandium mineralization. Notable high-grade intercepts include:
- NRC016 - 99m at 106 g/t Ga2O3, 0.77% TREO and 160 g/t Sc2O3 from 1m to EOH
- NRC058 - 74m at 123 g/t Ga2O3, 2.4% TREO and 186 g/t Sc2O3 from surface, including 30m at 206 g/t Ga2O3, 4.6% TREO and 310 g/t Sc2O3
- NRC037 - 56m at 114 g/t Ga2O3, 1.5% TREO and 263 g/t Sc2O3 from 44m, including 11m at 220 g/t Ga2O3, 3% TREO and 639 g/t Sc2O3
- NRC038 - 60m at 124 g/t Ga2O3, 3% TREO and 372 g/t Sc2O3 from 36m, including 12m at 242 g/t Ga2O3, 6.7% TREO and 638 g/t Sc2O3
- NRC068 - 86m at 105 g/t Ga2O3, 2.8% TREO and 200 g/t Sc2O3 from 14m, including 11m at 210 g/t Ga2O3, 6.6% TREO and 376 g/t Sc2O3
- NRC078 - 37m at 145 g/t Ga2O3, 3.2% TREO and 321 g/t Sc2O3 from 30m, including 10m at 292 g/t Ga2O3, 5% TREO and 500 g/t Sc2O3
Gallium at Cummins Range
Historical regolith RC drilling, conducted between 2007 and 2012 by Navigator Resources and Kimberly Rare Earths were mostly assayed for gallium. A total of 11,487 assays for gallium were completed with 36% of the assays containing >40 g/t Ga2O3.
Significant intersections have been calculated using a cut-off grade of 40 g/t Ga2O3 over 5 metres and are shown in Appendix 1. Figure 1 is a cross section showing significant gallium intercepts that have formed in saprolite on top of the Rare Dyke and below an ancient lake.
Figure 1. Section 307340E. Showing gallium intercepts at Cummins Range deposit. Section location is shown in Figure 2 and intersection specifics can be found in Appendix 1
Figure 2. Collar location plan showing carbonatite dykes 100m below surface. Also showing Section (Figure 1) location.
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This article includes content from RareX, 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.
Nimy Secures Drilling Contractor for Imminent Program at WA Gallium Discovery
The drilling is aimed at growing the extent of the known mineralisation over a further 400m strike length while also infilling the established mineralised area.
Nimy aims to complete a maiden JORC resource on Block 3 as soon as possible following completion of this program.
The resource will in turn assist the Company with its strategy to advance its collaboration agreement with US minerals specialist M2i Global.
The drilling will be funded by the proceeds of Nimy’s recently-completed share placement (see ASX release dated February 26, 2025).
M2i specialises in the development and execution of a complete global value supply chain for critical minerals for the US Government and US free trade partners.
Samples from the upcoming drilling will be used for metallurgical test work, including technical studies to test gallium extraction methods.
Nimy Managing Director Luke Hampson said:
"Block 3 is clearly a significant high-grade discovery with mineralisation already outlined over a substantial area.
“We have tested only a small portion of the highly prospective strike length, which gives us every reason to believe we stand to grow the size of the discovery.
“Gallium is a critical metal used in many cutting-edge technologies, including top- level military applications.
“Given that China supplies virtually all the world’s gallium and recently imposed restrictions on it, there is a huge opportunity for Nimy to play a role as a provider to the western world”.
Why the focus on Gallium?:
- Nimy Resources has, to our knowledge the highest grade non-aligned gallium project in the Western World;
- China has for the foreseeable future stopped the export of gallium to the US;
- Nimy is working with US minerals specialist M2i Global with the objective of providing a sustainable supply of gallium to the US government and Defense Industrial Base in support of the Department of Defense;
- Gallium has a rapidly evolving focus on the world stage, with exponential growth in the usage of: Semiconductors; 5G Technology; Power Charging; Green Technologies; Telecommunications; Medical Uses; Radar and Military Applications
- US and European Defence company stock prices have risen sharply amid growing calls for Europe to re-build its military capability;
- The US governments strategy to slash spending on Ukraine's defence has led European Governments to prepare for big increases in military spending;
- Estimates of the coming military spending boom extend into hundreds of billions of dollars;
- Europe will need to secure substantial supplies of critical metals in markets currently controlled by China;
- Australian gallium could be expected to be in strong demand as European military expenditure grows;
- Gallium prices are expected to follow demand with some projections for compound annual growth rate (CAGR) of 24.3% (*Source: researchandmarkets.com - Gallium Global Market Report 2024 – January 2024).
Figure 1: Total Projected Gallium market size (in USD Billion)*source: researchandmarkets.com (Gallium Global Market Report 2024 - January 2024)
Table 1: Total World Production 2024source: https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-...
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Karonga Prospecting Licence Granted
Located in northern Malawi, the licence covers an area of approximately 36km2 and has the potential for copper mineralisation, as confirmed from preliminary reconnaissance/surveillance work undertaken by DY6’s in country technical team.
KEY HIGHLIGHTS
- Karonga Prospecting Licence has been granted over a recently identified high potential Copper (Cu) mineralisation anomalous area in the Karonga district.
- The licence grants to DY6 the exclusive right to prospect for copper, rare earth elements, lithium and other minerals for a term of 3 years with an option to renew the licence for a period not exceeding 2 years.
- Preliminary reconnaissance/ surveillance sampling work on the licence area revealed occurrence of elevated Cu grades, with initial portable XRF results ranging from 1.4 to 7.8% Cu in rock (refer Table 1). Results are to be verified using standard laboratory-based XRF analytical assaying methods*.
- DY6 has recently acquired and completed reprocessing of historic hyperspectral survey data, which has been used to map areas with high probability for copper mineralisation. The results from this exercise correlate well to the mineralisation identified in the sampling work.
- Historic anomalies from regional airborne geophysical radiometric and magnetic data appear to correlate with both the hyperspectral probability copper mineralisation mapping and the preliminary sampling reconnaissance work conducted.
- Exploration for Cu and other minerals will continue on the licence area.
* Cautionary Statement on pXRF – pXRF (Portable X-Ray Fluorescence) results that are announced in this report are from uncrushed, rock-chip samples and are preliminary only. The use of pXRF is an indication only of the order of magnitude of expected final assay results.
Figure 1. Location map of newly granted Karonga licence
The Project is located about 440km north of the capital Lilongwe Figure 1. It can easily be accessed using Karonga-Chitipa M1 Road turning to the west at Kasikisi School signpost along the M1 Road (Figure 2).
Figure 2. Topographical map of the Karonga licence EL0782/24
Geology and Mineralisation
The Karonga area is associated with a series of NW-SE and N-S trending ridges with metamorphic Basement complex rocks commonly identified as windows within the Karroo System which overlies the basement. The Karroo System units are typically sandstones with carbonaceous shale formations.
The eastern part of the licence area is overlain by several patches of Karoo sediments and Cretaceous to recent lacustrine sediments, the interrelations of which are complex due to unconformities and faulting (Figure 3A). This area is part of the northern sub-province of the Malawi Province of the Mozambique belt, active between about 700-400 million years ago. The major lithological components are gneisses and intrusives of the Misuku Belt, representing the south-eastern extension of the Ubendian Mobile Belt of south-western Tanzania into Malawi.
On a more local scale, the licence area is comprised of a suite of quartzite rocks, pegmatitic rocks and amphibole gneisses that intrude into the basement gneissic rocks forming the wall rock of the project area. The lithologies have a general NW-SE trend and are dipping west / south-west at very steep angles ranging from 600 to 850.
The presence of base metals and other related metal mineralisation is evident in the pegmatitic rocks and quartz zone (quartzite) group. The quartzite unit have clear malachite and azurite coexisting with sulphides minerals indicating the presence of copper and other base metals.
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Firebird Granted Mining Lease for Oakover Manganese Project
HIGHLIGHTS
- Firebird has been granted Mining Lease ML 52/1086 for the Oakover Manganese Project
- Receipt of the Mining Lease is conditional on the Company’s development of a mining proposal, requiring approval from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS)
- Environmental surveys and mining studies supporting the mining proposal are progressing
- The Mining Lease covers a large area of 3,429.8 ha, including the Sixty Sixer, Jay Eye and Karen Pits, as well as proposed processing plant, tailings storage and waste dump
- Oakover is a large, near surface, gently dipping manganese project, with a Mineral Resource Estimate (MRE) of 176.7 Mt at 9.9% Mn including an Indicated Resource of 105.8 Mt at 10.1% Mn1
- Oakover forms part of Firebird’s long-term vertical integration strategy to grow into a low-cost manganese-based cathode material business, leveraging its world-class team, unique processes and technology and its own mineral resources
- The successful development of Oakover will ultimately provide Firebird with a 100% owned and secure feedstock supply for its manganese sulphate processing reinforcing its strong and competitive position in the battery materials market.
Firebird Managing Director, Mr Peter Allen, commented:“The granting of Mining Lease 52/1086 is a significant milestone for Firebird and the Oakover Project, marking an important step in our long- term downstream processing and vertical integration strategy.
“Oakover is a large and near-surface manganese project with robust economics and an 18-year Life-of- Mine. Our vision is to become a global leader in the manganese industry by seamlessly integrating our mining operations and innovative downstream processing solutions, to support the advancement of the Li-ion and Na-ion battery sectors. The location of our proposed manganese sulphate plant in China, places us at the forefront of this market and with the integration of Oakover will allow us to maintain a competitive advantage by ensuring a 100% owned and secure supply of high-quality manganese feedstock.
“Securing this lease brings us closer to that goal, providing a foundation for out stage two, low-cost manganese-based cathode material operations which is underpinned by the successful development of Oakover.”
Figure 1: Oakover Project location
The granted Mining Lease is conditional on receiving approval from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for a mining proposal.
The Company’s long-term strategy is to grow into low-cost manganese-based cathode material business, leveraging its world-class team, unique processes and technology and its own mineral resources. The Oakover Project boasts a Mineral Resource Estimate1 of 176.7 Mt at 9.9% Mn, with 105.8 Mt at 10.1% Mn in an Indicated category.
Through the execution of this strategy, Firebird aims to secure a natural cost advantage in LMFP cathode production, particularly by integrating manganese sulphate (MnSO₄) from its proposed production plant in China.
Oakover development programs will remain focussed on completing environmental surveys and reports as well as mining studies to feed into the mining proposal.
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