(TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act: View PDF version
- 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
![Miramar Resouces](https://investingnews.com/media-library/miramar-resouces.png?id=34341132&width=1200&height=800)
Miramar Acquires Copper and Uranium Prospects in Northern Gascoyne Region
Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that the Company has submitted an Exploration Licence Application over copper and uranium occurrences in the northern Gascoyne Region of WA.
- Application over copper and uranium occurrences in northern Gascoyne
- Tenement application covers
- Durlacher Supersuite granite – host to Yangibana and YIN REE deposits
- Historic high-grade Joy Helen Cu-Pb-Ag mine
Exploration Licence Application, E08/3676, covers part of an outcropping “Durlacher Supersuite” granite, the same unit that hosts the Yangibana (Hastings) and YIN (Dreadnought) REE deposits (Figure 1).
The tenement application also covers numerous N-S trending Mundine Well dolerite dykes, along strike from Dreadnought’s Mangaroon Ni-Cu-PGE prospect, and contains the “Chain Pool” uranium occurrence and the historic “Joy Helen” copper-lead-silver mine.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Gascoyne region provided the opportunity for the discovery of multiple commodities and deposit types.
“This new application is prospective for base metal mineralisation hosted in sediments of the Edmund Basin, uranium and/or REE mineralisation associated with the Durlacher Supersuite granitoid, and potentially also Ni-Cu-PGE mineralisation associated with Mundine Well dolerite dykes,” Mr Kelly said.
“We look forward to progressing the tenement to grant and getting out on the ground,” he added.
Figure 1. Regional geology of the Northern Gascoyne region showing location of Application E08/3676.
Figure 2. Application E08/3676 showing GSWA geology, mineral occurrences and Mundine Well dykes.
Chain Pool Uranium occurrence
The Chain Pool occurrence is located within the “Telfer Batholith”, part of the Durlacher Supersuite and the same geological unit that hosts the REE deposits at Yangibana and YIN (Figure 2).
The batholith was first identified as being prospective for uranium mineralisation hosted within veins within the granites, similar to the Rössing and/or Phalaborwa deposits, in the 1970’s.
In the period 2009-2011, Raisama Limited conducted exploration targeting uranium mineralisation associated with the granitoid including a detailed airborne magnetic and radiometric survey across the entire granitoid batholith, followed by limited reconnaissance rock chip sampling and RC drilling.
The highest rock chip result of 1,898ppm U (i.e. 2,248ppm U3O8) came from a sample in what is now known as the “Chain Pool” prospect. Only two rock chip samples, approximately 1.4km apart, were ever taken within the 5km long radiometric anomaly (Figure 3).
A single RC drill hole, CP_RC05, was drilled to 80m and tested the radiometric anomaly beneath the highest rock chip result but failed to intersect significant uranium mineralisation.
The hole encountered granite intruded by thin pegmatites but the samples were only assayed for Rubidium, Thorium, Uranium and Zircon (WAMEX Reports a087098, a088661 and a089842).
Given the areal extent of the uranium anomalism, the similarities in geology to Yangibana, and the lack of any systematic sampling or drilling, the area remains prospective for uranium and/or REE mineralisation.
In addition, the Mundine Well dolerite dykes have apparently never been investigated for Ni-Cu-PGE mineralisation.
Click here for the full ASX Release
This article includes content from Miramar 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.
Lundin Mining Announces Updated Share Capital and Voting Rights
News Provided by Canada Newswire via QuoteMedia
High-Grade Copper-Zinc Confirmed at Evelyn
Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to provide an update on drilling at the Evelyn deposit (Evelyn), part of the Whim Creek Project, located 115km southwest of Port Hedland (Figure 1).
- Preliminary continuous XRF scanning results confirm high-grade copper-zinc intersections
- Diamond drilling now completed with visually-observed sulphide mineralisation intersected in all holes
- Samples submitted for laboratory analysis with results expected in September
- Evelyn regional exploration programme commenced aimed at identifying Evelyn- type high-grade VMS base metal deposits
- Auger sampling and geophysics planned ahead of RC-drilling of high priority targets
Anax’s Managing Director, Geoff Laing commented: “These results again demonstrate the high-grade nature of this VMS deposit, and we are pleased with the outcomes of this drilling campaign. The team will continue to focus on leveraged growth outcomes at Whim Creek and we look forward to providing ongoing updates on the near mine exploration along with our regional consolidation strategy”
The Company has received results from continuous XRF-scanning of the first two holes, and these have confirmed the high-grade nature of the visual intersections. 1
CAUTIONARY STATEMENT ON CONTINUOUS XRF SCANNING RESULTS
Core was processed through the Minalyzer CS (Minalyzer) continuous XRF scanning unit in Perth. Six trays of calibration core samples were submitted with the new drilling, but no high-grade mineralisation was available. The results presented in this announcement are therefore considered partially calibrated as the upper limit of likely assays are not represented in the calibration core. The XRF results that are subject of this report will be submitted for laboratory assay and some variation from the results presented herein should be expected. Further information about Minalyzer is provided at the end of this announcement.
Figure 1: Location of the Whim Creek Project and Evelyn Deposit
The best visual intersection from the drilling programme previously reported1 is from Hole 24AED002A which encountered a strongly mineralised zone between 176.45 and 189.9m (Figure 2).1 Preliminary results from Minalyzer continuous XRF-scanner have confirmed the high-grade nature of the intersection (Table 1).
In addition, Evelyn mineralisation typically contains significant gold and silver enrichment. However, the continuous XRF-scanner is unable to accurately quantify gold and silver grades, and these are therefore not reported. Laboratory analyses will include gold and silver assays, and results for precious metals will be reported once received.
Table 1: Significant continuous XRF-scanning results for 24AED002A
Figure 2: Massive sulphide mineralisation in 24AED002A
Hole 24AED001 was designed to intersect the high-grade shoot below previous drill hole, JER074, which intersected 13m @ 2.56% Cu, 4.98% Zn, 1.92 g/t Au and 41 g/t Ag.2 The hole deviated in a southerly direction from its planned intersection position and clipped the base of the shoot. Preliminary results from continuous XRF scanning are shown below in Table 2. Laboratory analyses will include gold and silver assays, and results will be reported once received.
Table 2: Significant continuous XRF-scanning results for 24AED001
The final two holes of the diamond drilling programme at Evelyn have now been completed. Both 22AED003 and 222AED004 encountered sulphide mineralisation in the anticipated positions, including localised sections of strong copper and/or zinc mineralisation (Figure 3).
Figure 3: Sphalerite, galena and minor chalcopyrite in 24AED003
Cautionary Statement: Certain information in this announcement may contain references to visual results. The Company draws attention to the inherent uncertainty in reporting visual results. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Both 24AED003 and 24AED004 encountered sulphide mineralisation, but they did not intersect the mineralised horizon at the planned target zones due to excessive swing to the south. The possibility for down-plunge resource extensions remains (Figure 4), and the Company anticipates that areas of potential resource growth will be tested in future with Reverse Circulation (RC) drilling. Summary logs for 24AED003 and 004 are provided below in Table 3 and Table 4.
Geotechnical logging of the first two diamond holes have completed. Encouragingly, the hanging wall mafic unit in which the decline at Evelyn will be developed, appears very competent containing minimal fractures or foliation.
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.
Filo Obtains Interim Order
Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) (" Filo " or the " Company ") is pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the " Court ") has issued an interim order (the " Interim Order ") regarding the Arrangement (as defined below) and authorizing Filo to proceed with various matters relating thereto, including among other things, the calling and holding of a special meeting of the Shareholders (as defined below) of Filo (the " Meeting ") to consider and vote on the proposed Arrangement. View PDF
At the Meeting, holders of the common shares (" Filo Shares ") of the Company (the " Shareholders "), and their duly appointed proxyholders will be asked to consider, and if thought fit, to pass, a special resolution relating to a proposed plan of arrangement whereby BHP Investments Canada Inc. (" BHP "), a wholly-owned subsidiary of BHP Group Limited and Lundin Mining Corporation (TSX:LUN) (OMX:LUMI) (together with BHP, the " Purchaser Parties ") will, among other things, acquire all of the issued and outstanding shares of the Company not already owned by the Purchaser Parties and their respective affiliates by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the " Arrangement ") in accordance with the terms of an arrangement agreement among Filo and the Purchaser Parties (the " Arrangement Agreement ").
A special committee comprised of only independent directors of Filo unanimously recommended the Arrangement to the board of directors of the Company (the " Filo Board "). The Filo Board unanimously approved the Arrangement and the Arrangement Agreement and unanimously recommends that the Shareholders vote FOR the Arrangement .
The Meeting will be held in a virtual only format, which will be conducted via live audio webcast at meetnow.global/MGK95K9 on Thursday, September 26, 2024 at 10:00 a.m. ( Vancouver time).
The anticipated hearing date for the application for the final order of the Court (the " Final Order ") is October 2, 2024 . Subject to obtaining the required approval of the Shareholders at the Meeting, the Final Order and the satisfaction or waiver of the conditions to implementing the Arrangement as set out in the Arrangement Agreement, the Arrangement is anticipated to be completed in the first quarter of 2025.
Meeting materials including a management information circular and related meeting materials are scheduled to be mailed on or about September 3, 2024 to Shareholders of record as of the close of business on August 20, 2024 , in accordance with statutory requirements and the Interim Order. A copy of the Interim Order will be included in the management information circular. Upon completion of the mailing to Shareholders, the materials for the Meeting will be filed by the Company on SEDAR+ and will be available thereat under the Company's profile at www.sedarplus.ca and on the Company's website at https://filocorp.com/investors/corporate-filings/ .
About Filo Corp.
Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile . The Company's shares are listed on the TSX and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF".
Additional Information
The Company's certified adviser on the Nasdaq First North Growth Market is Aktieinvest FK AB, +46 8 506 51703, rutger.ahlerup@aktieinvest.se.
The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s).
The information was submitted for publication by the contact persons below on August 26, 2024 at 7:30pm EDT .
Follow Us:
Twitter: https://twitter.com/filo_corp
LinkedIn: https://www.linkedin.com/company/filocorp/
Instagram: https://www.instagram.com/filo_corp/
Facebook: https://www.facebook.com/FiloCorp Official
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This press release may contain certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the Meeting, the mailing and filing of the Meeting materials and the approval of the Arrangement by the Shareholders, may be forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved.
Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to receive the required court and regulatory approvals to effect the Arrangement; changes in laws, regulations and government practices; the potential of a third party making a superior proposal to the Arrangement; risks pertaining to the outbreak of the global pandemics; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca and the Meeting materials that will be made available under the Company's profile at www.sedarplus.ca . The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Filo Corp.
![](https://rt.newswire.ca/rt.gif?NewsItemId=C8144&Transmission_Id=202408261930CANADANWCANADAPR_C8144&DateId=20240826)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/26/c8144.html
News Provided by Canada Newswire via QuoteMedia
Lundin Mining Announces Labour Agreement at Caserones Mine
TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce today that an agreement has been reached with the union at Caserones and accepted by the majority of the union members through a vote. Further to the press release dated August 12, 2024 entitled "Lundin Mining Provides Update on Labour Negotiations at its Caserones Mine" a new collective bargaining agreement will be signed imminently. The Company will now focus on a safe back-to-work plan and an efficient ramp-up of operations which has been running at approximately 50% capacity during the labour action. View PDF version
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.
The information was submitted for publication, through the agency of the contact persons set out below on August 24, 2024 at 17:00 Vancouver Time.
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's approach to resolution and procedures regarding the strike and its expectations regarding the return to normal operations; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Pre-Feasibility Study, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value; expectations regarding, and ability to complete, the acquisition of Filo Corp. and the 50/50 joint venture with BHP; the anticipated development and other plans with respect to the acquisition and joint venture; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, gold, nickel and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the inability to resolve labour disruptions; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile ; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; the inability to currently control Filo Corp. and the ability to satisfy the conditions and consummate the acquisition of Filo Corp. and the joint venture transaction with BHP on the proposed terms and expected schedule; risks associated with acquisitions, expansions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; mining rates and rehabilitation projects; mill shut downs; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A for the three and six months ended June 30, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023 , which are available on SEDAR+ at www.sedarplus.com under the Company's profile.
All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
SOURCE Lundin Mining Corporation
![](https://rt.newswire.ca/rt.gif?NewsItemId=C3376&Transmission_Id=202408242000CANADANWCANADAPR_C3376&DateId=20240824)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/24/c3376.html
News Provided by Canada Newswire via QuoteMedia
Askari Metals Hones Focus on Uranium, Lithium with Sale of Callawa Copper Project
South African explorer Askari Metals (ASX:AS2) has entered into a legally binding agreement to sell its Western Australia-based Callawa copper project to privately held company Muccanabout.
“Execution of this agreement with Muccanabout aligns with our mandate to streamline the operations of the company which is focused on uranium and lithium exploration in Tanzania and Namibia,” said Managing Director Gino D’Anna.
Askari will receive AU$125,000 through the sale, which was announced on Friday (August 23). Muccanabout will make an initial cash payment of AU$55,000 (plus GST) within five business days of the deal's execution.
The remaining AU$70,000 (plus GST) will be paid six months later, also in cash.
Transfer of full ownership will be performed after Muccanabout completes the second payment.
Located approximately 90 kilometres northeast of Marble Bar in the eastern area of the Pilbara region, Callawa was acquired by Askari in 2021. In May, the company identified high-grade copper and silver targets at the site.
Mapping and rock chip sampling performed at the project returned copper grades of 6.78 percent, 4.35 percent, 2.02 percent and 1.85 percent, and silver grades of 11.1 grams per tonne, (g/t) 8.25 g/t and 6.42 g/t.
As mentioned, Askari plans to focus on uranium and lithium moving forward. In February, it acquired the Matemanga uranium project in Tanzania, and it holds the Uis lithium project in Namibia.
The company has a portfolio of lithium and rare earths assets in Western Australia and the Northern Territory.
“The company continues to evaluate other opportunities to monetise its Australian-based exploration projects portfolio which will provide long-term capital savings to the Company and enhance operational transparency,” D'Anna said in Friday's release, adding that Askari has also implemented several cash-preservation initiatives.
“We look forward to keeping our shareholders and investors updated as we progress.”
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.
Geophysical Survey Highlights Growth Opportunities at Mt Oxide Project
True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to announce results from the ongoing geophysical survey at Vero and Camp Gossans, part of TNC’s Mt Oxide Project, 140km north of Mt Isa in Queensland. The survey has been supported by a $300,000 Queensland Government Collaborate Exploration Initiative (CEI) Grant.
HIGHLIGHTS
- Two MIMDAS Induced Polarisation (IP) and Magnetotelluric (MT) lines successfully completed at Vero and at Camp Gossans which has highlighted a number of geophysical anomalies that are unexplored.
- At Vero the results demonstrate excellent correlation between the resource mineralisation and MIMDAS chargeability highs, providing confidence in the technique to identify targets in the district.
- Two chargeability high responses have been identified at Camp Gossans less than 100m beneath the outcropping geochemically anomalous Alpha and Beta Gossan targets.
- A third, undrilled chargeability anomaly was identified 250m northwest of Camp Gossans beneath a previously unmapped 400m long, northeast striking, hematite altered fault breccia at a new target called Black Marlin.
- A further 275m wide and up to 350m deep chargeability anomaly was identified 1km east of Vero.
- The geophysical survey continues and is currently focused on testing several highly promising copper targets north along strike of Vero at Ivena North, Aquila and Mt Gordon2.
- The new geophysics will be integrated with ongoing mapping and surface geochemical sampling campaigns to identify and prioritise future drill targets.
COMMENT
True North Copper’s Managing Director, Bevan Jones said:
Our exploration efforts at Mt Oxide are yielding great results. The recent survey, supported by the CEI grant, has yielded anomalies that closely match our existing Vero copper, silver, and cobalt resources, providing us confidence to use this method to identify new targets across the area.
Exciting new drilling targets have been identified at Camp Gossans and Vero and we have also found new potential mineralised structures like Black Marlin. The deep seeking MT survey at Vero has found an anomaly that suggests the main mineralised zone could extend more than 1km deeper than our current drilling. With multiple high quality drill targets coming together, our Mt Oxide Project is conceptually building into a potentially significant copper mineralised district of which Vero is just one deposit.
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
Mt Oxide MIMDAS Survey Results Summary
In late July 2024, TNC announced it had commenced its leading edge MIMDAS Induced Polarisation (IP), Resistivity and Magnetotellurics (MT) geophysical survey (MIMDAS survey) at Mt Oxide3. Partial funding for the survey was granted to TNC in Round 8 of the Collaborative Exploration Initiative (CEI), with TNC receiving $300k of funding to undertake the survey (Figure 7). The MIMDAS survey aims to test for sulphide mineralisation developed below numerous recently mapped leached gossan zones and build an improved understanding of the regional scale structural and geological architecture.
TNC is pleased to announce the results from the first two completed lines. One line for 2.5 line-km over the Cu-Ag-Co Vero Resource (Vero) (15.03Mt at 1.46% Cu & 10.59g/t Ag for a contained 220kt Cu & 5.13Moz Ag4 Indicated and Inferred resource and a separate 9.15 Mt at 0.23% Co total combined Measured, Indicated & Inferred resource5) and one line for 1.9 line-km over the highly prospective Camp Gossans prospect (Figure 2).
At Vero, there is excellent correlation between the Cu-Ag-Co resource mineralisation and MIMDAS chargeability, providing confidence to use this technique to identify targets throughout the district (Figure 2 & Figure 3). In addition to the anomalies associated with the resource, the survey has identified a 275m wide and up to 350m deep 25mV/V chargeability anomaly located 1km east of Vero. The chargeability anomaly is associated with mapped structures and potential splays of the regionally significant crustal scale Mt Gordon Fault.
Click here for the full ASX Release
This article includes content from True North Copper, 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.