- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Major Discovery Confirmed At Nil Desperandum From Drilling And Ip Geophysical Surveys
Carnaby Resources Limited (ASX: CNB) (Carnaby or the Company) is pleased to confirm a major copper gold discovery at the Nil Desperandum Prospect within the Greater Duchess Copper Gold Project in Mt Isa, Queensland.
Highlights
- RC drill hole NLRC066 has intersected a strong 50m down hole zone of copper sulphide mineralisation from 250m to bottom of hole (BOH) containing up to 30% chalcopyrite based on visual estimates with results pending (refer Table 1 & 2 in Appendix 1 of this report).
- Critically, the visual intercept in NLRC066 has confirmed that the copper mineralisation in the adjacent drill hole NLDD044, which intersected 41m @ 4.1% copper (see ASX release 29 December 2021), has a similar dip to shallower parts of the deposit and therefore downhole widths are close to true width intersections for both NLDD044 and NLRC066 (See Figure 1).
- Also of material importance, results from the first three new lines of Induced Polarisation (IP) southwest of NLDD044 have outlined a continuous >300m long chargeability anomaly consistent with the chargeability anomaly associated with the copper sulphide mineralisation in NLDD044 (see Figure 2). Results from a further three lines of IP are being modelled and will be reported shortly.
- Extensive drilling and IP surveys are ongoing. Short Covid related heritage survey delays are being experienced and are required before drilling of the new IP anomalies can take place southwest of NLDD044.
Click here for the full ASX Release
This article includes content from Carnaby 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.
Greenpeace: Deep-Sea Mining in Norway Could Harm Marine Biodiversity
Plans to open the Arctic seabed for deep-sea mining are raising alarms among environmentalists, particularly in light of new findings highlighting the potential damage to one of the world’s least explored ecosystems.
A recent report by Greenpeace warns that Norway’s decision to allow mineral exploration in Arctic waters could irreparably harm marine biodiversity, including species that are vital to the region’s ecological balance.
The area in question lies within the Norwegian Exclusive Economic Zone, specifically a section of the Arctic Ocean known as the Mohns Ridge. This region is believed to be rich in rare minerals like cobalt, nickel and manganese — elements that are critical for modern technology, including electric vehicles and renewable energy infrastructure.
However, the unique and fragile ecosystems found in these deep waters are poorly understood, and scientists argue that mining operations could have unintended consequences.
Greenpeace’s report, published on Friday (September 20), outlines several potential risks associated with seabed mining. The removal of seafloor habitats, disturbance of underwater ecosystems and the release of toxic sediments could alter the marine food chain and affect species such as whales, dolphins and deep-sea corals.
These organisms, which thrive in cold, nutrient-rich waters, are particularly sensitive to changes in their environment, and even small disruptions could have long-lasting impacts.
Activists and researchers are calling for Norway to reconsider its deep-sea mining strategy, emphasizing that more time is needed to study the region's ecology before proceeding with industrial activity.
Norway previously committed to managing 100 percent of its ocean areas sustainably by 2025 as part of the High Level Panel for a Sustainable Ocean Economy. Critics believe its deep-sea mining plans run counter to these commitments.
Haldis Tjeldflaat Helle, a campaigner for Greenpeace Nordic, voiced concerns over the inconsistency between Norway’s environmental pledges and its push for industrial expansion.
“The measure of a nation’s success is not how many promises it makes, but how it honors them and how much of its ecosystem is safeguarded for present and future generations," she said. “While Norway claims to be a respectable nation with responsible policies on ocean management, it’s rolling out the red carpet for deep sea mining companies to deploy machines that will cause irreversible harm to the Arctic’s unique and vulnerable biodiversity."
Norway is pressing ahead with its plans, backed by companies eager to tap into the region’s mineral wealth.
Loke Marine Minerals, a startup founded in 2019, is one firm vying for exploration licenses. The company aims to extract minerals such as cobalt and manganese from the Arctic seabed using advanced robotic technology.
Another Norwegian company, Green Minerals (FWB:F5P), is also looking to explore the Arctic seabed for resources, with a focus on extracting copper from seafloor massive sulfide deposits. Green Minerals CEO Ståle Monstad has said that test mining could start as early as 2028, depending on the outcome of exploratory research.
Industry experts believe deep-sea mining could potentially reduce the environmental damage caused by land-based mining. Proponents argue that the concentration of valuable metals in deep-sea deposits is higher compared to on-land deposits, meaning that less material would need to be extracted to meet global demand.
However, environmental groups caution that this does not justify the risks posed to Arctic ecosystems, which remain some of the least understood and most vulnerable on the planet. The Norwegian Institute of Marine Research has recommended a pause of five to 10 years on deep-sea mining to allow for further scientific studies.
In addition to resistance from environmental advocates, some of the world’s biggest companies and 32 countries have voiced support for either a ban or a pause on deep-sea mining in international waters.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
American West Signs Formal Agreement for A$18.8 Million Royalty Funding for the Storm Copper Project, Canada
Funds under the royalty package to be accessed this week
American West Metals Ltd (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to announce that the Company has signed a definitive formal agreement with TMRF Canada Inc., a subsidiary of Taurus Mining Royalty Fund L.P. (Taurus) whereby Taurus will provide funding of up to US$12.5 million (A$18.8 million1) under a royalty package for the Storm Copper Project.
- Definitive formal agreement signed with TMRF Canada Inc., a subsidiary of Taurus Mining Royalty Fund L.P. (Taurus) to provide US$12.5 million (A$18.8 million1) in exchange for a royalty over Storm
- The first payment under the royalty package is US$5m (approximately A$7.5m) – US$1m (approximately A$1.5m) will be advanced to American West this week with the balance to be provided upon completion of registration of the royalty at the Nunavut Mining Recorder’s Office, expected within 2-3 weeks
- Further payments under the royalty package are:
- US$3.5m (approx.. A$5.25m) upon delivery of a Prefeasibility Study( PFS) for Storm and submission of permitting documents for a development at Storm
- US$4m (approx.. A$6m) upon announcement of an increase in the JORC compliant resource for Storm to at least 400,000 tonnes of contained copper at a resource grade of at least 1.00% Cu
- American West Metals and Aston Bay Holdings will share funds under the royalty package in accordance with their respective interests under the unincorporated joint venture for Storm, being 80% for American West Metals and 20% for Aston Bay Holdings
- The funding has enabled an expansion of exploration and development activities at Storm including:
- Expansion of the 2024 drill program with more than 22,000m of drilling completed to date – more than double the previous largest annual drill campaign as Storm, and which will underpin a significant upgrade to the maiden Storm resource
- An investment in the 2025 field activities with bulk supplies being delivered to site this week by ship charter – saving circa. $4m on the potential logistics costs for the 2025 program
- Completion of environmental, mining and development studies – including detailed testwork that supports the potential for a Direct Shipping Ore (DSO) operation – which will support delivery of a PFS in early 2025
Dave O’Neill, Managing Director of American West Metals, commented:
“We are very pleased to have finalised formal documentation of the royalty funding which allows us to commence accessing substantial non-dilutive funding for the Storm Copper Project.
“The royalty funds have allowed us to expand activities at Storm this year, resulting in considerable advancement of the project which is rapidly taking shape as a potentially globally significant copper mining operation.
“The investment from Taurus recognises the the strong foundations for growth established by American West to date, and is an endorsement of both the American West team and the production potential at Storm.”
Michael Davies, Taurus Chief Investment Officer, also commented:
“We continue to be impressed with achievements at the Storm Copper Project and its potential to be a significant mining operation. We are delighted to be supporting the team at American West Metals as they continue to grow Storm’s copper resources and progress development plans for the project.”
The royalty arrangements with Taurus do not impose any royalty on American West’s other projects, namely the West Desert and Copper Warrior Projects in Utah, USA.
For further details on the royalty package under the Taurus arrangement, see our ASX Release dated 24 June 2024 ‘$18.8M Royalty Financing’.
ABOUT THE STORM COPPER PROJECT
The Storm Copper Project is located on Somerset Island, Nunavut, Canada. The Project covers an area of over 2,200 square kilometres within the Polaris mineral district, and is just 120km south of Resolute Bay, the regional community and logistics hub.
Aston Bay is a deep-water bay located on the Northwest Passage, a seasonal ice-free waterway historically used to ship concentrate from the World Class Polaris and Nanisivik zinc – lead mines. Excellent facilities, including a 60-person camp, are in place to enable exploration and resource activities to be undertaken.
American West owns 80% of the Storm Project, and partners with Aston Bay Holdings (TSX:BAY) who own 20% of the Project.
Maiden Resource Estimate
American West delivered a maiden independent JORC Code - 2012 Indicated and Inferred Mineral Resource Estimate (MRE) for the Storm Project in January, 2024. The MRE consists of 17.5Mt @ 1.2% Cu and 3.4g/t Ag (0.35% Cu cut-off), which includes 205Kt of copper and 1.9Moz of silver (Table 1).
The maiden MRE for the Storm Project has delivered the foundations to what American West Metals believe will be a globally significant copper district.
Immediate Resource Upside Potential
The shallow copper mineralisation within the Storm Deposits is open in all directions. The host stratigraphy and structures have been shown to be laterally and vertical extensive and therefore rank as high priority areas for resource growth.
Click here for the full ASX Release
This article includes content from American West Metals, 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.
BHP and CBE Sign Letter of Intent to Explore for Tier 1 Copper-Silver Deposits in Botswana
Cobre Limited (ASX: CBE, Cobre or Company) is pleased to announce that it has executed a letter of intent to negotiate exclusively with a wholly owned subsidiary of BHP Group Ltd (BHP) for a material earn-in joint venture agreement over Cobre's Kitlanya West and East Copper Projects (Kitlanya Projects), located on the northern and southern basin margins of the Kalahari Copper Belt in Botswana (Proposed Transaction). The Proposed Transaction follows on from Cobre's successful participation in the BHP Xplor program which also provided funding for the recently completed seismic survey on the Kitlanya West project (see ASX announcements of 23 January 2024 and 22 August 2024)
The Proposed Transaction underscores Cobre's confidence in the potential for its projects to host Tier 1 copper-silver deposits. A partnership with BHP would provide the exploration scale and expertise to maximise our chances of making significant new discoveries on our basin margin exploration ground while retaining 100% ownership of our Ngami and Okavango Copper Projects which are excluded from the Proposed Transaction.
The Proposed Transaction is subject to approval and execution of formal binding documents (Definitive Agreements) and the completion of BHP's due diligence investigations within the exclusivity period. Final details of the Proposed Transaction will be released to the market following completion of the long-form documents.
Commenting on the Proposed Transaction, Adam Wooldridge, Cobre’s Chief Executive Officer, said:
“Successful negotiation and completion of this significant transaction with BHP, one of the world’s leading mining companies, will be a major moment in time for Cobre as a company. Participating in the BHP 2024 Xplor cohort has provided the opportunity to do a belt scale review of the Kalahari Copper Belt, culminating with the collection of seismic data over the prospective northern margin of the belt. The Proposed Transaction with BHP would allow us to fully fund our follow-on exploration programmes and focus on discovering the Tier 1 deposits we believe may be hosted in our Kitlanya West and East Projects.
Independently, Cobre will continue advancing its 100% owned in-situ copper recovery development at Ngami – with a scoping study due in early October - along with further drilling at Cobre’s 100% owned Okavango project. This combined strategy provides exposure to potential Tier 1 discoveries, a development opportunity at Ngami and short-term discoveries on our Okavango project.”
A locality map illustrating the project locations is provided in Figure 1.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.
Cobre will continue to provide shareholders with further updates on material developments in respect of the Proposed Transaction.
This ASX release was authorised on behalf of the Cobre Board by: Adam Wooldridge, Chief Executive Officer.
Click here for the full ASX Release
This article includes content from Cobre 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.
Multiple Exciting High-Potential VMS Targets Identified at Evelyn
Anax Metals Limited (ASX: ANX, Anax, the Company) is pleased to provide an update on exploration at the Evelyn deposit (Evelyn), part of the Whim Creek Project, located 115km southwest of Port Hedland (Figure 1).
- Evaluation of historical exploration has identified high-potential drill targets & extensive areas in the Evelyn Mining Lease requiring further exploration
- The high-grade Evelyn base metal deposit (590Kt @ 2.54 % Cu, 3.90 % Zn)1 is centrally located within a granted Mining Lease & historical magnetic and EM surveys have defined prospective “event-horizon” stratigraphy that strikes for >3.0 km in the tenement. Approximately 70% of this highly prospective stratigraphy remains largely untested by effective drilling
- Discrete, late-time conductors defined by a VTEM (airborne EM) survey flown in 2007 are located beneath alluvial cover & remain largely untested
- Rock chip results from the recent sampling program at Felsic Dome target returned up to 3.94% Cu and 1.21 g/t Au, demonstrating prospectivity immediately west of Evelyn
- Strong bedrock conductors defined by FLEM (ground EM) surveys occur beneath transported cover with very limited drill testing completed
- Previous exploration ignored geochemical techniques in favour of geophysics
- Surface, auger & litho-geochemical techniques to be used extensively, allowing for fast & efficient exploration to identify further drill targets, mostly within the prospective event-horizon stratigraphy
- RC drilling is proposed to test existing VTEM & FLEM conductivity along with other targets generated by the geochemical program
Anax’s Managing Director, Geoff Laing commented: “Evelyn is a rich, high-value base metal deposit and the discovery of any further ore positions within the granted Mining Lease would add considerably to the overall economics of the broader Whim Creek Project. The exploration team have done well to advance the prospectivity of the area and we look forward to executing a more aggressive discovery strategy going forward”
The Company has undertaken a full review of all historical exploration resulting in the identification of considerable potential to add existing resources with successful exploration.
Figure 1: Location of the Whim Creek Project and Evelyn Deposit
Geological Overview
The Evelyn deposit exhibits many characteristics typical of a Volcanogenic Massive Sulphide (VMS) style of mineralisation. The ore is comprised predominantly of massive pyrrhotite, chalcopyrite, sphalerite and minor quantities of galena and pyrite. Almost no gangue exists within the ore and the interconnectivity of the sulphide minerals results in strong electrical conductivity providing an excellent target for ground, airborne and downhole electrical geophysical techniques.
Click here for the full ASX Release
This article includes content from Anax Metals 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.
Titan Forms Joint Venture for Linderos Project with Hancock Prospecting Subsidiary
Titan Minerals (ASX:TTM,OTC Pink:TTTNF) announced it has executed a binding joint venture and earn-in deal with Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining.
According to Titan's Wednesday (September 18) release, the deal concerns the company's Southern Ecuador-based Linderos copper project, in which Hanrine will be able to acquire up to an 80 percent interest.
"We are pleased to be partnering with Hanrine, who have a well-established team in-country with the technical capability and financial capacity for us to mutually benefit from exploration success alongside contribution to the economy of Ecuador," said Titan CEO Melanie Leighton, emphasising the company's excitement about Linderos.
Hanrine will pay Titan an initial US$2 million, with US$250,000 already sent as part of a term sheet executed in April. The remaining balance of US$1.75 million will provide Hanrine with its first 5 percent interest in Linderos.
To earn the full 80 percent stake in the property, Hanrine will either have to achieve specific exploration milestones and proceed to a decision to mine, or solely fund up to US$120 million for the joint venture. This will have to happen within 15 years of the joint venture being executed; other milestones are in place at three and seven years.
Leighton said Hanrine is ready to start exploration at the site, with an expansion of the camp at Linderos being a top priority as preparations proceed for a 10,000 metre drill campaign at the site.
Technical site visits and other logistics planning is already "well advanced."
As mentioned, Linderos is located in Southern Ecuador, where it covers 143 square kilometres. Titan describes it as an early stage exploration project, with most activity to date focused on the Copper Ridge porphyry prospect.
Highlights from eight holes drilled in 2022 include 308 metres at 0.4 percent copper equivalent from 54 metres, including 76 metres at 0.5 percent copper equivalent from 132 metres.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Titan and Hanrine Enter into Joint Venture s Earn-In Agreement
Hanrine to spend up to US$120M to earn 80% in Linderos Copper Project
Titan Minerals Limited (ASX: TTM) (Titan or the Company) refers to its ASX announcement dated 18 April 2024 and is pleased to announce that Titan and its wholly owned subsidiary, Linderos Mining S.A.S (Linderos), have executed a binding joint venture and earn-in agreement (JVA) with Hanrine Ecuadorian Exploration and Mining S.A. (Hanrine), an indirectly wholly owned subsidiary of Hancock Prospecting Pty Ltd (Hancock), for Hanrine to acquire up to an 8o% ownership interest in the Linderos Copper Project (Project) in Ecuador (Transaction).
Highlights
- Titan and Hanrine, a wholly owned subsidiary of Hancock, have executed a formal binding joint venture and earn-in agreement in respect to the Linderos Copper Project in Ecuador
- Hanrine will earn an initial 5% interest in the Linderos Copper Project by paying US$2.01 million and can earn up to an 80% interest in the Linderos Copper Project by either achieving specific exploration milestones and proceeding to a decision to mine or by sole funding up to US$120 (AU$180) million
- Preparation for the initial 10,000m drilling campaign is underway, with technical site visits and meetings held and logistics planning now well advanced to facilitate drilling and associated exploration activities
Titan’s CEO Melanie Leighton commented:
“We are very pleased to have entered into formal binding arrangements with Hanrine for the Linderos Copper Project. The JV & earn-in agreement represents endorsement of what we believe is an exciting early-stage porphyry copper-gold discovery.
“We are well advanced in our technical discussions with Hanrine who are ready to commence exploration activities at the Linderos Copper Project, with expansion of the camp being the first task on the priority list to ensure seamless and efficient operations once drilling commences.
“We are pleased to be partnering with Hanrine, who have a well-established team in-country with the technical capability and financial capacity for us to mutually benefit from exploration success alongside contribution to the economy of Ecuador. We look forward to providing further updates on logistics and exploration activities as we prepare for commencement of the initial 10,000 metre drilling campaign at Linderos.”
Click here for the full ASX Release
This article includes content from Titan 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.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.