The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- 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
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- 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
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Termination of Fifield Project Earn-in Agreement and Funding Update
September 25, 2024
Rimfire Pacific Mining Limited (Rimfire or the Company) (ASX: RIM) provides the following updates in respect of the Fifield Project, the Avondale Project, funding arrangements and next steps.
Termination of Fifield Project Earn-in Agreement
Rimfire has two projects in the Lachlan Fold Belt of NSW, each of which are prospective for critical minerals – the Fifield Project and the Avondale Project. Activities at both projects have been funded by Golden Plains Resources Pty Ltd (GPR) under separate earn-in arrangements, which have the potential to see GPR earn a joint venture interest of up to 50.1% (in the case of the Fifield Project) and up to 75% (in the case of the Avondale Project).
Rimfire has issued a notice of termination to GPR in respect of the Fifield Project Earn-in Agreement, with the termination stated to take immediate effect.
The Company has exercised a termination right which has arisen as a result of a change of control of GPR following the judgement of the Victorian Supreme Court in: Resource Capital Ltd v Giovinazzo [2024] VSC 548 (Judgement), delivered 6 September 2024.
Given the Fifield Project Earn-in Agreement was terminated prior to GPR satisfying the earn-in requirements, GPR will have no interest in the Fifield Project going forward. The express terms of the Fifield Project Earn-in Agreement do not require the Company to repay to GPR any funding provided by it prior to termination in these circumstances.
The Fifield Project contains the Murga North Scandium Prospect where Rimfire has recently reported an Inferred Mineral Resource estimate of 21Mt @ 125 ppm Sc (4,050t Sc Oxide) as well as an Exploration Target of 100 to 200Mt at 100 to 200ppm Sc* (15 – 46Kt Sc Oxide) for the surrounding Murga area (See Rimfire ASX Announcement dated 9 September 2024)**.
Rimfire is considering its rights in relation to the Avondale Project Earn-in Agreement in light of the Judgement and is currently seeking further information from GPR.
The Avondale Project contains the Melrose Scandium Prospect where Rimfire has recently reported an Indicated and Inferred Mineral Resource estimate of 3Mt @ 240 ppm Sc (1,120t Sc Oxide) (See Rimfire ASX Announcement dated 9 September 2024)**.
Click here for the full ASX Release
This article includes content from Rimfire Pacific 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.
RIM:AU
Sign up to get your FREE
Rimfire Pacific Mining Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
11 October
Rimfire Pacific Mining
Company Overview
Rimfire Pacific Mining (ASX:RIM) has its roots in NSW with a long history of exploration activity within some of the world's most prolific mining jurisdictions in Central Western NSW and the Broken Hill districts. With a highly capable and accomplished technical team, the company is committed to employing best-in-class geoscience to discovery Australia's next critical minerals mines.
With a combination of 100% owned assets and JV projects, Rimfire's Lachlan Orogen Projects are on the doorstep of some of Australia's truly great gold-copper porphyry mines such as Northparkes, Cadia and Cowal within a region dominated by major international mining businesses.
In the iconic Broken Hill region which has been a major production centre for base metals, Rimfire is primarily focused on chasing up historical occurrences of cobalt mineralisation and has projects proximate to ASX listed Cobalt Blue Ltd's Broken Hill Cobalt Project.
As a company committed to the discovery of critical minerals orebodies of scale, Rimfire aims to deliver enduring value to shareholders.
Keep reading...Show less
10 December
Drilling Commenced at Viani in Fiji
Alice Queen Limited (ASX:AQX) (“Alice Queen” or the “Company”) is pleased to announce that drilling has commenced at its 100% owned Viani Project in Vanua Levu, Fiji (see Image 1). The initial planned three-hole diamond drilling program will test for high-grade epithermal gold-style mineralisation intersected at the Viani Project by historic drilling.
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
Click here for the full ASX Release
This article includes content from Alice Queen 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.
Keep reading...Show less
10 December
FireFly Drills its Best Hole Yet with Assay of 86.3m at 3.7% CuEq
Latest drilling returns very thick intersections with exceptional grades, outlining a rich area of mineralistion which will form part of the next Resource update
FireFly Metals Ltd (ASX: FFM) (“Company” or “Firefly”) is pleased to announce its best assays yet at the Green Bay copper-gold project.
KEY POINTS
- Latest drilling at the Ming Mine within the Green Bay Project returns spectacular results which support the Company’s strategy to continue growing the Resource (currently 59Mt at 2% CuEq; see ASX release dated 29 October 2024)
- There are two distinct styles of mineralisation at Ming; upper copper-gold rich Volcanogenic Massive Sulphide (‘VMS’) lenses above a broad copper footwall stringer zone (‘FWZ’)
- The latest drilling reveals strong FWZ mineralisation directly below the high-grade VMS; This has resulted in continuous copper-gold intersections which are both wide (~true thickness) and high-grade, including drill holes:
- 86.3m @ 3.7% CuEq 1 (3.1% Cu & 0.6g/t Au) in hole MUG24-079
Intersection includes two distinct VMS lodes grading 15.5m @ 4.6% CuEq and 9.9m @ 5.8% CuEq above a broad copper FWZ intersection with a high-grade core of 27.6m @ 5.3% CuEq
- 76.3m @ 2.9% CuEq (2.4% Cu & 0.5g/t Au) in hole MUG24-073
Intersection includes an upper VMS lode grading 20.1m @ 6.1% CuEq above multiple FWZ intersections including 24.0m @ 2.6% CuEq and 11.0m @ 2.4% CuEq
- Other notable assays received subsequent to the completion of the October 2024 Resource update include (~true thickness):
- 7.9m @ 3.8% CuEq (1.1% Cu & 2.9g/t Au) VMS zone MUG24-070
- 21.0m @ 1.8% CuEq and 21.9m @ 1.9% CuEq and 19.7m @ 2.0% CuEq FWZ zone MUG24-070
- 50.9m @ 1.7% CuEq (1.6% Cu & 0.1g/t Au) FWZ zone MUG24-069
- Both the high-grade massive sulphide zones and broad footwall stringer zones remain open, with downhole geophysical surveys indicating likely extensions to the mineralisation
FireFly Managing Director Steve Parsons said: “These exceptional new results highlight both the quality and ongoing growth potential at Green Bay.
”The results, which come from some of the deepest holes drilled to date, are world-class, demonstrating exceptionally high grades over huge true widths. They will be included in the next Resource update.
“The Resource remains open, and we will continue to add value through the drill bit by continuing to grow and infill what is already a high-grade and large-scale copper deposit”.
The results highlight the huge scope for ongoing growth in the Resource, which already stands at 59Mt @ 2% for 1.2Mt of contained copper metal equivalent.
These reported intersections were received after the October 2024 Resource update.
There are two distinct styles of mineralisation at the Ming underground mine at Green Bay. One comprises the upper copper-gold rich Volcanogenic Massive Sulphide (‘VMS’) lenses. This sits above a broad copper stringer zone known as the Footwall Zone (‘FWZ’).
Drilling at the margins of the current Resource show the development of a strong copper-rich footwall zone directly beneath the upper VMS lenses. In other parts of the deposit the separation of the VMS and FWZ can exceed 50 metres. Their convergence has resulted in thick and consistent high-grade copper and gold intersections which are amongst the best mineralised results returned from the deposit to date. Highlights include 86.3m @ 3.7% CuEq (~true thickness) made up of two separate VMS intersections of 15.5m @ 4.6% CuEq and 9.9m @ 5.8% CuEq above a thick FWZ mineralised zone with a core of 27.6m @ 5.3% CuEq.
Both the high-grade massive sulphide zones and broad footwall stringer zones remain open, with downhole geophysical surveys indicating probable extensions to the mineralisation pointing to future resource growth.
The Company will continue with its strategy of Resource growth at Ming with exploration development continuing to position drill rigs to deliver Resource growth during 2025. Four rigs continue to drill underground as part of the fully-funded 130,000m campaign designed to deliver both additional Resource extensions and infill drilling to increase confidence in the Inferred areas of the current estimate.
FireFly is well funded with ~A$88M in cash at the end of October 2024.
Click here for the full ASX Release
This article includes content from Firefly 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.
Keep reading...Show less
10 December
Strategic Expansion of MacBride Base & Precious Metal Project in Canada
Acquired ground more than doubles Corazon’s prospective landholding / Aerial geophyical survey extended to test new tenure / Work underway defining priority targets for early 2025 drill program
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the strategic expansion of its MacBride Base and Precious Metals Project (MacBride or Project) in the Lynn Lake district, of Manitoba, Canada.
KEY HIGHLIGHTS
- Corazon has secured additional ground at the MacBride Base and Precious Metals Project in Canada’s Lynn Lake district
- MacBride Project now covers a 14-kilometre strike of stratigraphy prospective for Cu-Zn-Au-Ag massive sulphide deposits, including the drill-defined outcropping MacBride and Wellmet deposits
- High-grade gold assays from historical sampling (up to 25.9g/t Au in grab samples) within the new ground further highlights the region’s prospectivity for orogenic gold deposits
- An aerial VTEM geophysical survey is currently underway
- Previous VTEM survey effectively defined a conductor coincident with the MacBride Deposit, as well as multiple untested, high-priority conductors undercover on trend
- The new VTEM survey provides greater coverage of the MacBride Project, including the first-time survey of the Wellmet Cu-Au and Zn-Cu-Au trends
- Results from the new VTEM survey are expected to be available in the coming weeks and will be used in targeting drilling for early 2025
- The MacBride Project is an exciting exploration opportunity and will be a major focus of Corazon’s ongoing Lynn Lake region exploration activities
The Company has physically staked and made applications for new Mining Claims that increases the MacBride project area from ~26km2 to ~56km2, covering a contiguous
~14km strike length of the prospective MacBride/Wellmet trend (Figure 1). The new Claims are pending grant by the Manitoba Provincial Government.
The new area hosts several prospects identified by historical exploration, including results as high as 25.9 g/t Au in grab sampling at Prospect Area F (Figure 1).
Exploration at MacBride between the 1940’s and early 1990’s defined the MacBride and Wellmet copper-zinc-gold- silver deposits and established the fertility of the region. The only recent exploration was a 2008 aerial VTEM (versatile time domain electromagnetic) survey, which identified the MacBride deposit as a conductor, along with multiple high-order conductive bodies, undercover along trend (ASX announcement 7 October 2024). These conductive bodies are yet to be followed up with drilling.
The MacBride Project is a major focus of Corazon’s Lynn Lake region exploration activities. The effectiveness of past geophysical VTEM surveys in defining drill-defined massive sulphide mineralisation has resulted in extending coverage over a larger part of the project area. The geophysical conductors defined from this work will be the priority focus for first pass drilling currently proposed for early 2025.
The MacBride Project expansion further enhances Corazon’s position as a significant landholder and active explorer- developer in the Lynn Lake district, which also hosts the Company’s 100% owned, flagship Lynn Lake Nickel-Copper- Cobalt Sulphide Project.
Click here for the full ASX Release
This article includes content from Corazon Mining, 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
Keep reading...Show less
04 December
Strategic Acquisition Consolidates Large Scale Gold and Base Metal Target Area
Acquisition of Octava Minerals’ Talga Project and Exploration Update
Established multi-asset Western Australian lithium company, Global Lithium Resources Limited (ASX: GL1, Global Lithium or the Company) is pleased to announce the acquisition of seven strategic tenements adjacent to the Company’s Marble Bar Gold Project to complete coverage of a large gold in soil geochemistry anomaly that is spatially associated with a highly altered granite (Figure 1).
Key Highlights
- Strategic, low-cost acquisition of the Talga Project from Octava Minerals (ASX: OCT) for $200,000 cash and $200,000 in Global Lithium Resources (ASX: GL1) ordinary shares based on the 5-day VWAP prior to completion.
- Aligns with GL1’s prudent cost management and value-accretive strategy to assess non-lithium mineral prospectivity across its largely unexplored portfolio of tenements.
- Consolidation of a 12km trend of gold in soil geochemical anomalies on the northwestern margin of the Mt Edgar Batholith.
- Identification of a potential porphyry/Intrusion related Cu-Au mineralised system associated with a finger of the Coppin Gap Granodiorite, which is the interpreted source of the Archean Spinifex Ridge Mo-Cu-Ag Porphyry Deposit, located 20km away.
- Increased recent corporate activity relating to Pilbara gold project development with Creasy Group acquiring nearby Calidus Resources (ASX: CAI) and Northern Star’s (ASX: NST) announced intention to acquire De Grey Mining (ASX: DEG).
- Process commenced seeking partners to accelerate and fund further exploration, along with previously announced Exploration Incentive Scheme (EIS) grant funding.
Global Lithium Executive Chairman, Ron Mitchell, said the Talga Project acquisition provided a low-risk, cost efficient opportunity for the Company to expand its exposure to gold and base metals within a highly prospective region.
“There is no better time for Global Lithium to consolidate and investigate the prospectivity of Talga alongside our existing Marble Bar tenements. Interest in the region is high and market conditions for gold and base metals are very favourable.
The Manna Lithium Project remains our number one priority; however, we look forward to leveraging our in-house capabilities and external partners to unlock value from these additional tenements while the lithium market is facing near term challenges. Any future upside from the exploration work at Marble Bar will, inevitably, benefit our Manna Project and all Global Lithium shareholders.”
Since listing on the ASX in 2021, GL1 has held the Twin Veins gold prospect area at the northern end of its Marble Bar tenement package which currently comprises land area of 537km2. Several small-scale exploration campaigns have previously tested vein-hosted gold trends near the margin of granite and have returned positive gold results, warranting further exploration.
These previously reported results include;
- MBRC0619, 4m @ 4.85g/t Au from 86m1
- MBRC0621, 5m @ 3.94g/t Au from 118m1
- MBRC0623, 3m @ 8.9g/t Au from 49m1
- MBRC0159, 7m @ 4.78g/t Au from 11m2
- MBRC0157, 12m @ 2.95g/t Au from 37m3
- MBRC0006, 3m @ 5g/t Au from 25m3
Review of the prospect area by the Company’s geologists led to the identification of a sericite altered core to the granite with iron oxide pitting and minor quartz veins. A Dipole-Dipole Induced Polarisation (DDIP) survey was executed over the granite identifying a large chargeable anomaly within resistive granite, and several RC holes were drilled targeting this. Disseminated pyrite (~1%) within intensely sericite altered granite was intersected with the only significant gold result being reported in a 4m composite sample from MBRC0608 (4m @ 0.53g/t Au, 16.9g/t Ag from 220-224m)1.
GL1 has re-assayed the 1m samples from and around this intersection with a result of 5m @ 1.1g/t Au, 15g/t Ag, 0.3% Pb, 0.23% Zn from 219-224m. MBRC0608 also intersected elevated copper with an intercept of 40m @ 137ppm Cu from 156-196m against a background value of 10ppm Cu in other less altered areas of the granite. This zone also returned 36m @ 4.8g/t Ag from 164-200m.
To better understand the system two diamond drill holes, MWDD001 and MWDD002, were completed with the aim of better visualising the alteration, any mineralisation, and provide samples for petrological study. Hole MWDD001 was drilled underneath the altered core of the granite while MWDD002 was successful in intersecting the altered core as well as minor mineralisation.
Click here for the full ASX Release
This article includes content from Global Lithium 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.
Keep reading...Show less
Latest News
Sign up to get your FREE
Rimfire Pacific Mining Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
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.