Battery MetalsInvesting News

(TheNewswire)



HIGHLIGHTS

  • - Following completion of a Bankable Feasibility Study ("BFS"), Jervois has approved the appointment of M3 Engineering ("M3") to progress detailed engineering at Idaho Cobalt Operations ("ICO")

  • - Detailed engineering will support ordering long lead items for ICO, with US$4.7 million expenditure approved to end March 2021. This work package ensures ICO remains on schedule for first product in 2022

  • - Ahead of a BFS commencing at Sao Miguel Paulista nickel-cobalt refinery ("SMP Refinery"), Jervois has appointed Elemental Engineering ("Elemental") to complete sysCAD modeling for product integration

  • - The modeling will review the integration of hydroxides and carbonate products, oxides and sulphide concentrates at the SMP Refinery through to production of nickel and cobalt refined metal, products marketed previously under the brand of "Tocantins"

  • - Assuming Jervois shareholders approve the remaining tranche of the recently completed equity raise at the AGM on Monday 30 November 2020, on a proforma basis Jervois currently has A$47.3 million in cash

TheNewswire - Nov. 26 th , 2020 - Jervois Mining Limited's ("Jervois" or "the Company") (ASX:JRV) (TSXV:JRV) (OTC: JRVMF) is pleased to announce it has selected M3 Engineering (" M3 ") as lead engineer for the detailed design and site early works for its 100%-owned Idaho Cobalt Operations (" ICO "), United States.

M3 is headquartered in Tucson, Arizona and was selected as the preferred engineering contractor due to its recent completion of the Australian JORC Code 2012 Edition (" JORC ") BFS and Canadian National Instrument 43-101 (" NI 43-101 ") Feasibility Study ("FS") on ICO, announced on 29 September 2020. M3 also has extensive construction experience and project delivery in the United States, specifically relating to local conditions in Idaho and regional contractor capabilities.

The detailed design will cover all packages of work to allow orders to be placed on long lead items so construction can be restarted and site early works in May 2021 can commence, after snow melts allowing safe site access. ICO remains scheduled to be commissioned in July 2022.

In parallel, Jervois will complete modelling of feed integration of hydroxides, carbonates, oxides and sulphide concentrates for the SMP Refinery in Brazil. Scope will include detailed mass and energy balance calculations, reagent consumption, steam and water balances, sysCAD models and flowsheets including impurity removal and recirculating load assessment, together with impact on utility demands including electricity, steam and water. Elemental, based in Perth, Western Australia, has been appointed to complete the study. The work will be finalized in January ahead of commencement of BFS in the same month.

Elemental was awarded the scope of work after strong bids from international engineering firms with expertise in nickel and cobalt refining. Elemental completed similar work for Glencore's Murrin Murrin facility in Western Australia and also undertook Nico Young flowsheet modelling for Jervois prior to public release of the NI 43-101 Preliminary Economic Assessment in May 2019.

Formal tender process for the SMP Refinery BFS will be undertaken prior to calendar year end.

On behalf of Jervois Mining Limited

Bryce Crocker, CEO.

For further information, please contact:

Investors and analysts:

Bryce Crocker

Chief Executive Officer

Jervois Mining Limited

bcrocker@jervoismining.com.au

Media:

Nathan Ryan

NWR Communications

nathan.ryan@nwrcommunications.com.au

Mob: +61 420 582 887

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Copyright (c) 2020 TheNewswire - All rights reserved.

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Jervois MiningJRV:CAJRVMFCobalt Investing

Austral Resources Australia Ltd and Glencore Finalise Agreements for $8.3M Spend

Brisbane, Australia (ABN Newswire) - Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce that the Company has finalised the binding exploration earn-in agreements ("Earn-in Agreements") with MIM, a subsidiary of one of the world's largest mining companies, Glencore.

As announced to the market on 8 June 2022, Austral and MIM entered into a value generating nonbinding complementary Exploration Earn-in Agreements with Austral to expand its oxide exploration activity in both the Exploration Area and within MIM's prospective Russell Fault EPM. Under the Earnin Agreements, the parties agree to share exploration data and certain resources.

Key details of the Earn-in Agreements can be found below

Under the Earn-in Agreements, MIM will have the right to earn-in up to a 65% interest of Austral's JV EPMs by spending A$6.3m over four years. Austral retains the right to explore for and commercially exploit copper oxide ore within the Exploration Area. Additionally, under the Earn-in Agreement with MIM, Austral is entitled to earn-in up to 65% interest within MIM's Russell Fault EPM by spending A$2.0m over four years, effectively increasing the Company's copper exploration area by 116km2 .

Program of work for the Russell Fault Tenement

Indicative program of works across the Russell Fault EPM 26435 as part of the Glencore JV includes:

- Establish scheduled and recurring meetings between AR1 and MIM technical exploration staff.

- Source all relevant Russell Fault exploration data from MIM and evaluate:

o The extent, vintage and quality of data relevant to copper oxides;

o Regional and local structures with the emphasis on structural elements known to be highly prospective;

o Stratigraphic units present within EPM 26435 with the emphasis on the structural juxtaposition of stratigraphy;

o Surface geochemistry and drilling results to identify areas of known copper anomalism;

o Review of known and historic prospects, and extent of exploration; and

o Complete integrated lithological & structural interpretation including 2021 geophysical surveys to identify prospective zones.

- Field visits to prioritised prospective areas including mapping and geochemical sampling if warranted.

- Review and integrate copper oxide targets at Russell Fault EPM 26435 into a prioritised sequence, ranked against current Austral exploration targets, for further testing and evaluation.

- Design and execution of a lean and focused exploration program commensurate with prospectivity.

Austral's Managing Director and Chief Executive Officer, Dan Jauncey, commented:

"This is an exciting JV with Glencore's Mount Isa Mines, as it will provide Austral the opportunity to create significant shareholder value, as the additional expenditure increases the potential for further discoveries. Austral stands to benefit greatly from working with and learning from MIM's seasoned exploration team and we look forward to updating the market with our exploration plans over coming months."

*To view full details, please visit:
https://abnnewswire.net/lnk/ZF0HIAG1



About Austral Resources Australia Ltd:

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.

Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.

News Provided by ABN Newswire via QuoteMedia

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