Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to report that on 18 September 2024, it had completed the issue of shares in part settlement of deferred executive salaries and director fees (the “Compensation Shares” or the “Shares for Debt”) as previously announced in a news release dated 17 July 2024.
The Shares for Debt arrangement comprised the issue of 22,348,980 Chess Depository Instruments (“CDIs”) at a deemed issue price of A$0.02 per CDI, equivalent to A$446,979.60 as detailed in Table 1 below. Each new CDI issued under the Placement will rank equally with existing CDIs on issue and each CDI will represent a beneficial interest in one common share of the Company. The issuance of the Shares for Debt was subject to TSXV and shareholder approval which was obtained at the annual general meeting held on 11 September 2024 (the “Meeting”).
Table 1
The Compensation Shares and Shares for Debt were issued upon receipt of shareholder approval, as required by the Australian Securities Exchange Listing Rules, at the Meeting. An Appendix 2A was announced to the ASX on 18 September 2024 and provides further detail on the issue of the Compensation Shares and Shares for Debt.
The Share for Debt arrangement will reduce the Company’s liabilities.
The CDIs issued under the Placement are subject to a TSX Venture Exchange (“TSXV”) “hold period” of 4 months and one day from the date of issue of the CDIs.
The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Securities within the United States or to, or for the account or benefit of, U.S. Persons (as defined under Regulation S under the U.S. Securities Act), nor shall there be any sale of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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Kalgoorlie Gold Mining (ASX:KAL) (‘KalGold’ or ‘the Company’) has commenced aircore drilling at two new exploration target areas within the Pinjin Gold Project on 9 October 2024 (Figure 1).
Figure 1 – New drill areas (pink labels) that are the focus of the new drill program at Pinjin. Projection: MGA 94 Zone 51.
Testing Two New Gold Target Areas
The aircore drill program currently underway focuses on two new exploration target areas at Kirgella West and Kirgella East (Figure 1). The target areas are both located near to the Kirgella Gift and Providence deposits where the Company recently defined a JORC (2012) Inferred Mineral Resource of 2.34 Mt at 1.0 g/t Au for 76,400 oz (ASX: KAL 25 July 2024). Both target areas show promising structural and geological complexity that has potential to host gold mineralisation. These targets have not been previously drill-tested and so are undergoing first-pass, widely spaced drilling in this program.
The initial program is scheduled to run for two weeks, drilling up to 4,500 m across key target areas in priority order.
KalGold Targets Untapped Potential in Southern LTZ
This marks KalGold’s first systematic assessment of the gold potential of the greater Pinjin Project area. For the first time, we are moving beyond historic efforts at Kirgella Gift and Providence, and the Wessex prospect adjacent to the Anglo Saxon gold mine.
KalGold believes the southern part of the Laverton Tectonic Zone (LTZ) holds significant potential, comparable to its northern end, which hosts major gold deposits like Sunrise Dam, Granny Smith, Wallaby and the Laverton Goldfield (Figure 2). The southern LTZ, remains underexplored due to poor surface exposure and limited historic exploration efforts. However, recent discoveries like Rebecca in the LTZ and Breaker/Lake Roe in the adjacent Celia Tectonic Zone show the area’s potential. KalGold aims to make similar discoveries on its LTZ tenure.
Figure 2 – KalGold’s Pinjin Gold Project within the Laverton Tectonic Zone, showing current targets, work programs and other major deposits of the region. 50km grid. Projection: MGA 94 Zone 51.
KalGold believes that drilling is the only effective way to test the LTZ on our Pinjin Gold Project, given transported cover over much of the area. Typically this approach results in several misses, but it also has the potential for significant discoveries. By applying a scientifically rigorous approach, KalGold is increasing its chances of success, focusing on key target areas that display geological, geophysical and geochemical hallmarks of gold mineralisation.
Progress will be driven by results, as well as logistics. Currently, KalGold is working to secure a new heritage survey over the area, with a focus on E28/3134. Heritage clearance of the unexplored eastern areas is important for on-ground investigation where the high-grade metamorphic rocks of the Rebecca sequence are interpreted to be juxtaposed by the LTZ against the host sequence of the Pinjin Goldfield. Additionally, known palaeochannel distributions are considered, allowing for initial exploration of shallow targets before potentially pursuing targets at depth as the palaeochannels can be over 100m deep.
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This article includes content from Kalgoorlie Gold Mining 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.
Barrick (NYSE:GOLD)(TSX:ABX) will release its Q3 2024 results on Thursday, November 7, 2024. President and CEO Mark Bristow will host a live presentation of the results that day in London, UK, at 11:00 EST 16:00 UTC, with an interactive webinar linked to a conference call. Participants will be able to ask questions.
The company will release its preliminary production, sales and cost information for Q3 2024 on October 16, 2024.
Q3 RESULTS ANNOUNCEMENT
The webinar will remain on the website for later viewing and the conference call will be available for replay by telephone at 1 855 669 9658 (US and Canada toll-free) and +1 412-317-0088 (international toll), replay access code 8607451.
The Q3 2024 presentation materials will be available on Barrick's website at www.barrick.com.
Enquiries:
Claudia Pitre
Investor Relations and Corporate Access
+1 416 307 5105
Email: cpitre@barrick.com
Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
News Provided by GlobeNewswire via QuoteMedia
Highlights:
These high-grade gold assays continue the trend found in our original rock chip discoveries at Titan1 by emerging from quartz-iron veining and are therefore not analogous to conglomerate mineralisation. This veining structure will vary throughout Titan but the structure continues to demonstrate its potential. We are looking forward to further gold exploration at Titan and over the greater Carlow tenement.”
Titan Prospect
The Titan prospect is located towards the northern part of the Carlow tenement E47/1797, in the West Pilbara region of Western Australia. Titan has had minimal exploration work conducted previously other than broad spaced soil sampling and a constrained moving loop transient electromagnetic survey (MLTEM).
Figure 1. Artemis West Pilbara tenements with current known prospects named
The Company has followed up the preliminary ground reconnaissance undertaken in August 2024 with a second phase of sampling. This second phase has confirmed the previously reported over-limit assay results and also identified further potential mineralised areas through the discovery of additional high grade, previously untested quartz/iron-oxide veins. In total, 97 samples were collected and sent to the laboratory for processing. The majority of samples were collected from in-situ veining with some sub-crop and three float samples.
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HIGHLIGHTS
Figure 1: Geophysical interpretation has identified five high priority targets.
This survey complements the previous magnetic and IP/resistivity surveys completed over the Chacon grid, some 5km to the north-west. Both surveys highlight the strong structural controls, the intense alteration, and the coincident geophysical signatures.
Previously the Chacon Grid had been mapped and sampled over a strike length of two kilometres, but recent reconnaissance has indicated the structure may extend for a strike length of up to six kilometres. It is expected that further mapping, geochemistry, geophysics and drilling along strike and between both the Chacon Grid and the La Javiela vein systems will highlight a mineralised structural corridor up to 10km in length.
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This article includes content from Piche 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.
Highlights:
Completion of the Acquisition remains subject to formal documentation being executed and shareholder approval by Tartana’s shareholders for the purposes of ASX Listing Rule 10.1, 10.11, and 7.1 (further detailed below), amongst other conditions precedent. There can be no assurances that the transaction will complete until such time that all conditions precedent have been met. A summary of the terms of the non-binding agreement is set out at Annexure A.
Acquisition Rationale
QSM’s EPMs and ML are located Far North Queensland and are complementary to Tartana’s existing exploration portfolio with two copper projects with high grade copper surface mineralisation as well as several EPMs covering critical mineral prospects. The critical mineral EPMs are in proximity to Tartana’s own Herberton (Emuford) EPM Application (EPMA 27220) and are part of move by Tartana to increase its exposure to tin, tungsten and silver and other critical metals.
With Tartana’s Copper Sulphate production continuing to produce healthy cash flows, the Company has also been focused on investigating the development of primary copper mineralisation at the Tartana open pit as well as increasing its exploration portfolio to incorporate additional and complementary projects targeting copper and critical metals. While the former has involved drilling a metallurgical hole (D15) and completing metallurgical test work (flotation recoveries and ore sorting), the opportunity to acquire QSM addresses the latter.
About QSM
QSM has, over the course of recent years aggregated ten EPMs and one ML covering 771 km2 in Far North Queensland (See Figure 2). QSM has acquired the tenements through a series of transactions with tenure holders with a focus on discovery of hardrock critical and strategic metal projects, particularly tin, tungsten and copper.
In some cases the vendors of these tenements have held them for a significant period of time with a focus on alluvial mining over hard-rock exploration. QSM was able to secure attractive terms to acquire these tenements by leaving the alluvial rights in the hands of the vendors or Queensland Alluvial Resources Pty Ltd (further detailed below).
QSM has 7 project areas which are listed in Figure 1. Each project area contains prospects recorded by the Queensland Department of Resources and these are listed under each project/EPM. The dominant metal associated with each project is colour coded with many relating to the minor metals; tin, tungsten and antimony.
While there are many prospects in several of the permits, QSM has completed site visits and discussed the various prospects with ‘old time miners’ to establish which particular projects offer potential scale and potential unmined mineralisation. These projects are in bold in Figure 1.
Figure 1. QSM tenure and various prospects. QSM has prioritised the projects which are identified in bold.
Figure 2. Tartana and QSM EPMs.
A detailed project review has been provided at Annexure B.
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This article includes content from Tartana Minerals 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.