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Accelerate Resources Limited (ASX:AX8) ("AX8" or the “Company") is pleased to provide an exploration update on the Company’s Lithium projects in the East Pilbara.
- Accelerate’s 100% owned lithium project is 30 km ESE of Global Lithium Resources’ (ASX:GL1) Archer deposit (10.5 Mt @ 1.0% LiO2).
- New pegmatite targets identified using the same geological model as applied to the Archer Lithium Deposit and MB Lithium’s tenements, within a 6 km-10 km radius of the Moolyellar Monzogranite.
- Ground based sampling program to target potential lithium, tin, and tantalite mineralisation within pegmatites across the 369 km2 project area.
Figure 1: East Pilbara Lithium EL Applications
East Pilbara Lithium ProjectAccelerate’s projects are located in an area of active lithium exploration and discovery which includes Global Lithium Resources’ Archer deposit (10.5Mt @ 1.0% LiO2) ~30 km to the northeast and the Moolyella project held by Lithium 1 Pty Ltd (see Figure 1).
Following an encouraging initial reconnaissance sampling program earlier this year and a detailed photo interpretation, new targets have been identified with an on-ground exploration program planned for November.
Historical data has now been collated, and whilst there has been significant historical exploration for diamonds, limited work focusing on lithium or lithium-related pathfinder geochemistry has been recorded.
Desktop studies have identified priority targets characterised by multiple vein/dyke filled cross-cutting structures within the granitic plutons. Work has also included a review of the host granitic structures and neighbouring exploration activity that has successfully identified lithium mineralisation.
Based on the lithium pegmatite model successfully employed in the immediate region by other explorers, the upcoming field program will seek to follow up targets generated from the detailed photo interpretations and previously identified geophysical anomalies from historical diamond exploration.
New Target Areas
The north-western part of Accelerate Resource’s Mount Creek tenement block lies within the 6 - 8.65 km zone of nominal lithium prospectivity (Target Zone) around the Moolyella Monzogranite (see Figure 2).
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This article includes content from Accelerate 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.
Red Cloud Announces Fall Mining Showcase 2024 Agenda
Red Cloud is excited to announce its annual Fall Mining Showcase, scheduled for October 16-17, 2024, at the Sheraton Centre Toronto Hotel. This flagship event will feature over 90 resource companies, including CEOs, high-net-worth and institutional investors, highlighted by an engaging keynote agenda.
The mining industry is experiencing renewed optimism, particularly with producers posting record profits on the back of rising commodity prices. This momentum along with growing support of clean energy initiatives lead by nuclear power should bode well for sentiment at this year's showcase.
Founded by capital markets professionals with extensive experience in the junior mining sector, Red Cloud offers a unique platform that helps companies navigate growth opportunities through expert guidance and innovative financial solutions.
"Our event provides an exceptional opportunity for investors to engage with industry experts, explore a diverse range of commodities, and gain valuable insights into the macro themes shaping the industry," said Bruce Tatters, CEO of Red Cloud Securities. "We are committed to fostering these connections while highlighting junior mining companies."
Keynote presentations from industry leaders listed below:
Wednesday, October 16, 2024
- Joe Mazumdar, Editor, Analyst & Publisher, Exploration Insights
- Pierre Lassonde, Chairman Emeritus & Co-Founder, Franco-Nevada Corp.
- Rob McEwen, Executive Chairman & CEO, McEwen Mining
Thursday, October 17, 2024
- Ron Bernbaum, Founder and CEO, PearTree Securities Canada
- Kendra Johnston, P.Geo, MBA, Managing Director, PearTree Securities Canada
- Abigail Hunter, Executive Director, SAFE's Ambassador Alfred Hoffman Jr. Center for Critical Minerals Strategy
- Uranium Investor Session - Presented by TMX Group
Visit our website to register to attend, request 1x1 meetings and learn more about the conference: https://redcloudsecurities.com/fallminingshowcase2024/
Red Cloud would like to thank our partner, PearTree Securities, and all additional sponsors.
For additional information and inquiries, please contact our events team: marketing@redcloudsecurities.com
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is a CIRO-regulated investment dealer focused on providing a full range of brokerage services to all investor types focused in the junior resource sector. Our services include Investment Banking, Research, Institutional and Retail Trading, Institutional Sales, Retail Investment Advisory services, and Corporate Access.
About Red Cloud Financial Services Inc.
Red Cloud Financial Services Inc. is a globally focused capital markets advisory firm that provides a full range of executive strategy and execution in the digital media, production, and distribution. Our breadth of services combines our significant knowledge of the junior mining industry with a unique product offering. The company was founded by capital markets professionals with extensive experience in the junior mining industry.
For additional information, visit:
www.redcloudfs.com
https://x.com/RedCloudFS
www.linkedin.com/company/red-cloud-financial-services-inc
https://www.youtube.com/@RedCloudTV
www.instagram.com/redcloudfs
www.redcloudsecurities.com
https://x.com/RedCloudSec
https://www.linkedin.com/company/red-cloud-securities/
Assays Confirm High-Grade Manganese Discovery at Wandanya
HIGHLIGHTS
- Significant high-grade manganese assays received for the W2 prospect1, Wandanya located 80 km south of the Woodie Woodie Manganese Mine including:
- 5m @ 33.2% Mn from 4m including 2m @ 48.7% Mn (WDRC032)
- 5m @ 33.2% Mn from 1m including 2m @ 44.1% Mn (WDRC031)
- 5m @ 32.4% Mn from 4m including 2m @ 3G.6% Mn (WDRC027
- 6m @ 27.7% Mn from 3m including 2m @ 42.G% Mn (WDRC013)
- The stratabound mineralisation shows remarkable thickness and grade consistency over 240m of drilled strike and remains open to the east and north where the Company has mapped 1.75km of intermittent high grade outcropping manganese
- W2 is interpreted as stratabound, fault related hydrothermal manganese enrichment representing a significant new exploration model on the eastern margin of the Oakover Basin.
- Metallurgical testwork planned to produce a high-grade Mn concentrate as a feedstock for alloying or high purity manganese sulphate (HPMSM)
Black Canyon’s Managing Director Brendan Cummins said:
“The laboratory-based assay results have confirmed the significant high-grade intercepts for the W2 prospect. I am impressed by the consistency of the grades and thickness of the manganese horizon we have discovered and the higher-grade intervals over 40% Mn. What is really appealing about this target from an exploration and resource delineation perspective is the benefit of a consistent mineralised horizon that is also associated with hydrothermal grades. I am excited by the upside of this new style of mineralisation as we plan our follow-up exploration programs to assess 1.75km of strike to the north and the potential of the manganese horizon to extend to the east.”
Figure 1. W2 Prospect, RC drill bags from WDRC031 in the foreground
W2 Prospect, Wandanya (BCA 100%)
The W2 prospect was drilled on an approximate 40 x 40m grid testing a 240 long x 200m wide target. This drill program comprised 35 holes for 642m of drilling. Drill collar information is presented in Appendix 2.
Expedited Assay Results
Initially, six RC holes were sampled for expedited assays, generating 38 one metre interval samples that were gathered along the eastern boundary of the stratabound mineralisation. Representative holes were sampled from every second line along the drilled strike of 240m. On each drill line, the last two eastern holes were sampled from depths between 4m and 9m, which included stratabound mineralisation and portions of the lower grade footwall and hangingwall.
The results are presented in Table 1, which show consistent zones of mineralisation with the bottom 2m for each intersection typically returning high grade mineralisation potentially suitable for direct shipping (DSO).
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This article includes content from Black Canyon, 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.
Gallium Mineralisation Discovered in Rock Chip Samples from the May Queen South Bauxite Project, Queensland
Highlights
- Significant levels of the semiconductor elements gallium (Ga) and germanium (Ge) identified within the May Queen South Bauxite resource.
- Significant elevated gallium results returned averaging 67.59 g/t Ga over 12 random samples with an assay high of 145.5 g/t Ga.
- The May Queen South Bauxite Project (EL 16260 and EPM 16261) has a JORC (2012) Inferred Mineral Resource Estimate of 54.9Mt at 37.5% total Al2O3 and 5.2% TiO2 and 7.9% Rx SiO2.
- The project is located <55km from existing rail infrastructure with connections to the Port of Bundaberg.
Market summary
Gallium prices have surged in recent years, primarily due to increased demand in the electronics and semiconductor industries (Graph 1). Uses of Ga include the manufacture of compound semiconductor wafers that are used in integrated circuits and optoelectronic devices including laser diodes, light-emitting diodes (LEDs), photodetectors, and solar cells. Gallium's unique properties, such as its low melting point and ability to form useful compounds, makes it a critical element with applications spanning various industries, particularly in advanced technology and electronics.
The global gallium market is heavily dominated by China, with other countries playing much smaller roles. Currently China produces approximately 98% of the world's supply of raw gallium1.
Recent market disruptions including the entry of price inelastic demand 2 and Chinese export controls in August 2023 has seen a doubling of prices since 2021 when gallium was priced at $422.70 per kg, the current price represents a 115.12% increase3
Graph 1. Gallium price worldwide from January 2018 to January 2024 (Source: www.statista.com)
May Queen South Bauxite project
The May Queen South Bauxite project is located in central Queensland, within a short trucking distance of a rail system leading north to the Port of Bundaberg. It is also located within close proximity of the main Queensland Rail network heading south towards the Port of Brisbane.
Figure 1. Location of EPM 16260 and EPM 16261 shown together with theCompany’s adjacent May Queen gold tenements (EPM19419 and EPM27746)
The Project has a JORC 2012 Inferred Mineral Resource estimate of 54.9Mt at 37.5% total Al2O3 and 5.2% TiO2 and 7.9% Rx SiO24 (refer to announcement dated 30 May 2023).
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This article includes content from Australasian 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.
8500N Paleochannel Drilling Commences
- ~3,000m Reverse Circulation (RC) drill program at the 8500N Paleochannel (8500N) has commenced targeting shallow high-grade mineralisation where legacy and recent drill intersections include:
- 2m @ 46.7 g/t Au from 13m incl. 1m @ 92.6g/t Au from 14m (SPRB0064)
- 3m @ 10.7g/t Au from 16m incl. 1m @ 29.0g/t Au from 16m (SPAC0204)
- 2m @ 22.4g/t Au from 15m incl. 1m @ 43.5g/t from 15m (SPAC0261)
- 1m @ 51.1g/t Au from 16m (SPAC0068)
- 4m @ 8.99g/t Au from 12m incl. 1m @ 34.7 g/t Au from 13m (SPAC0279)
- 13m @ 1.59g/t Au from 11m incl. 4m @ 3.49g/t Au from 11m (PCRC003)
- Staged infill RC drill program designed to improve geological confidence of the 8500N Paleochannel while testing along strike and mineralisation extending into the underlying saprolite zones.
- 8500N is located on granted mining tenements, with significant mine infrastructure and completed environmental Flora and Fauna baseline studies, reducing the mine approval timeline.
- 8500N Paleochannel represents a low-cost, low-risk production opportunity due to its shallow high-grade gold mineralisation (average 15m below surface) and free-digging qualities of the mineralised paleo gravels and overburden material.
The first stage of the drill program consists of ~100 RC holes (~3,000m) designed to improve the geological confidence of the shallow paleochannel, while testing for potential extension of mineralisation in the saprolite zone beneath the paleochannel, as identified during the initial drill program (ASX announcement 18 September 2024). Several drill traverses will also be undertaken to test for extension along strike to the south (Figure 1). The complete drill program is designed to be completed in several stages to ensure optimal drilling effectiveness.
8500N Paleochannel
The 8500N Paleochannel is located within a granted mining tenement, between the Company’s Wattle Dam Gold Mine and the underlying 8500N gold deposit (Figure 2). Paleochannels are remnants of ancient rivers or stream channels that have been buried by younger sediments. Paleochannels can contain concentrations of high-grade alluvial gold that accumulate over millions of years and are generally shallow and flat-lying with free-digging qualities (not requiring drill and blasting) of the mineralised paleo gravels and overburden material, which can provide significant economic advantages.
Maximus’ 8500N is situated within the Lefroy Paleodrainage System, a significant ancient drainage network in the Eastern Goldfields region that contains several well-known paleochannel gold deposits such as Neptune, Africa, and Mandilla. The mined Neptune and Africa paleochannel deposits, part of Gold Fields Limited (JSE:GFI) St Ives Gold Camp, had a reported mineralised thickness of 1-3 metres recovering ~87,000 oz at 3.32 g/t Au. Similarly, Astral Resources’ NL (ASX:AAR) Mandilla paleochannel, which is situated ~2 km east of 8500N (Figure 2), was mined between 2006-2007, producing approximately 23,000 oz at 7.5 g/t Au from a ~600-metre long paleochannel with a mineralised thickness of 1-4 metres. The proximity of the 8500N Paleochannel to these established deposits, highlights the prospectivity of the region, as paleochannels within the Lefroy Paleodrainage System have consistently proven to be productive sources of gold.
The shallow 8500N mineralisation is located between 5 and 20m below the surface, gradually dipping to the south along two separate interpreted trends, with a strike length of approximately 450m. Legacy drilling across the flat- lying paleochannel has shown known mineralisation thickness ranges from 1 to 4m, with several key markers of the paleo gravels to assist in effective mining.
Currently, no JORC-compliant gold resources are defined for the 8500N paleochannel. However, recent drilling has revealed gold mineralisation extending beyond the limits of legacy drilling, indicating strong potential for significant expansion of the previously defined mineralised zone (ASX announcement 18 September 2024).
Figure 1 – Maximus’ 8500N Paleochannel mineralisation wireframes with the phase 1 (Black) and planned phase 2 (Grey) drill collars.
A third party has held the 8500N Paleochannel area under a Special Prospecting License (SPL) (Figure 2), which has restricted Maximus from assessing the potential of the 8500N gold resource and 8500N paleochannel. No exploration work, excluding a small scout drill program, has taken place in the 8500N area since 2014. On the surrender of the SPL (ASX announcement 5 September 2024), Maximus can now progress unencumbered to re- evaluate the mineral resources of both the Paleochannel and 8500N deposit.
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This article includes content from Maximus 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.