your success C$31.1bn raised for global growth companies in fiscal 2019 344 financings worldwide in fiscal 20191,2
Canaccord Genuity (Australia) Ltd. Talk or write to us
+61 3 8688 9100
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1. Company information as at 31 March 2019. 2. Transactions valued above C$1.5 million Offices in Australia are offices of Canaccord Genuity (Australia) Limited (ABN 19 075 071 466, AFSL 234666), which is authorised and regulated by ASIC and a participant of the ASX Group, Chi-X Australia, SSX and NSX. Offices in other countries are offices of companies in Canaccord Genuity’s group of companies. Copyright © 2019. All rights reserved.
WALLY GRAHAM those amongst us who don’t require
visual aids are well aware of the benefits of 20/20 vision, but as we dive into 2020 a reasonable question to ask is, whether the number stands for clear hindsight or foresight? The world economy has gone backwards throughout 2019 with the finger of blame more often than not pointed at the inability of US President Donald Trump to play nicely with China’s Xi Jinping, and vice versa. The two have provided an interesting backdrop to global fortunes and to the providences of many of the commodities represented at the 2020 RIU Explorers Conference. The iron ore price is a case in point for 2019 in that it averaged around US$80 a tonne Free on board (FOB) Australia. Australian producers benefitted from iron ore prices hitting some good highs due to competitor mishaps contributing to global production shortfalls. This price is forecast to come back to average US$60 a tonne by 2021, as things get back to normal, but we may as well make hay with Australia’s iron ore export earnings set to increase from $77 billion in 2018–19 to $84 billion in 2019–20 to then ease to $66 billion in 2020–21. Gold also enjoyed a buoyant 2019, hitting multi-year highs for the US dollar gold price and record highs for the Australian dollar gold price. The US dollar gold price is expected to finish the year on a positive note, due in no small part to Donald and Ji, but also other geopolitical uncertainties, such as problems in the Middle East and North Korea, and the civil unrest in Hong Kong. Always a safe haven asset, gold’s price is expected to lift to an average US$1,474 an ounce in 2020, before
falling to an average US$1,450 an ounce in 2021. In Australian terms the gold price is forecast to average $2,040 an ounce in 2020, before falling to an average of $1,960 an ounce in 2021. Copper prices bucked the 2019 trend by falling to an average of US$5,980 a tonne, although rising consumption is expected to boost prices to around US$6,190 a tonne in 2021. Australia’s copper exports are expected to grow in line with higher production, supported by expansions and new projects, however, this could be reliant on the level of industrial activity in China. Electric Vehicles and nickel have become good chums of late, resulting in higher consumption, which combined with Indonesia’s restrictions on exports of nickel ore have seen a run on nickel prices. This could see nickel prices average around US$15,800 a tonne in 2020, before rising to US$16,500 a tonne in 2021, up from US$14,000 in 2019. There’s been plenty of nickel action on the ground in Australia with new projects and expansions expected to support exports, which are forecast to increase from 225,000 tonnes in 2018–19 to 270,000 tonnes in 2020–21. Lithium is never far from the news, even though spot carbonate lithium hydroxide prices eased from US$16,139 a tonne in 2018 to about US$11,000 a tonne in late 2019. This trend is expected to continue in 2020 to around US$9,500 a tonne with a recovery to about US$10,925 a tonne in 2021. Australian lithium production is expected to increase from 249,000 tonnes (lithium carbonate equivalent) in 2018–19 to 289,000 tonnes in 2020–21. Battery-grade lithium hydroxide for contract and spot sales were also down over the past year — from US$15,000 a tonne to US$8,100 (in China) and US$12,000 (in South Korea and Europe). Prices are projected to turn in late 2021 or early 2022, as consumption catches up with supply. Data Source: Resources and Energy Quarterly December 2019 – Department of Industry, Innovation and Science.
TABLE OF CONTENTS Carawine Resources
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Carawine Resources (ASX: CWX)
carawine resources is an exploration company with the aim of developing economic gold, copper and base metal deposits within Australia. The company has four projects, each targeting high-grade deposits in well-established mineralised provinces throughout Australia. The company’s main project is the 100 per cent-owned Jamieson project, located near the township of Jamieson in the north-eastern Victorian Goldfields. The Jamieson project comprises granted exploration licences EL5523 and EL6622, covering an area of approximately 120 square kilometres. Jamieson contains the Hill 800 gold-copper prospect that was discovered by New Holland Mining in 1994 and the Rhyolite Creek copper-gold and zinc-gold-silver prospect, both of which sit within Cambrian-aged felsic to intermediate volcanics. The Rhyolite Creek prospect, located about 5km south of Hill 800, was discovered in 2008, by diamond drilling intersecting a zone of strong alteration and sulphide mineralisation returning high-grade zinc, gold and silver from an interpreted seafloor Volcanogenic Massive Sulphide (VMS) system. Recent work at the Jamieson project entailed a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey that provided support to the company’s belief in the potential for porphyry targets beneath Hill 800 and Rhyolite Creek, by confirming existing targets and providing a number of exciting new anomalies. Carawine intends using the results from this survey to model the size and depth of each anomaly, which can then be prioritised for drill testing. The study revealed a magnetic high anomaly potentially down-dip from Hill 800 the company interpreted to be characteristic of the typical geophysical response from a mineralised porphyry copper-gold stock and is therefore high on its priority list for modelling and drilling. The remainder of the company’s portfolio is located in Western Australia, the main focus of which is the Paterson project, situated in the Paterson Province at the eastern edge of the Pilbara Craton. Neighbourhood wise, the Paterson area hosts some well-heeled residents, including the Telfer gold-copper deposit, and the Nifty and Maroochydore strata-bound copper-(cobalt) deposits. Carawine’s Paterson project comprises six granted exploration licences and five exploration licence applications straddling an area of around 1,500sqkm across nine regions: Lamil Hills, Trotman South, Red Dog, Baton, Sunday, Cable, Puffer, Eider and Magnus. Carawine scored a Joint Venture double banger in regards to the Paterson project during 2019. After adding four new exploration licence applications in the western part of the Paterson Province, Carawine announced a Farm-In and Joint Venture Agreement with Rio Tinto Exploration Pty Limited (RTX) a wholly-owned subsidiary of Rio Tinto (ASX: RIO).
The Farm-In and JV will explore Carawine’s Baton (E45/4871 & E45/4955) and Red Dog (E45/4881) Tenements where it has identified more than twenty high-priority target areas, covering a range of potential deposit types in the Paterson region, all requiring follow-up exploration. “To have one of the world’s largest resources companies committing to significant expenditure on our Baton and Red Dog tenements is a strong endorsement of the prospectivity of the Tenements,” Carawine Resources managing director David Boyd said. “They have the technical knowledge and resources to rapidly and systematically evaluate the numerous high priority targets at Baton and Red Dog, increasing the chances of a successful discovery.” Carawine backed this up by striking a Farm-In and JV Agreement with a subsidiary of FMG Resources (ASX: FMG) that will cover exploration of the Lamil Hills (E45/5326), Trotman South (E45/4847) and Sunday (E45/5229) tenements. Lamil Hills is within 30km to the northwest of Newcrest Mining’s Telfer gold-copper mine; Trotman South is 30km to the south of the Telfer mine; and Sunday is within 5km of Metals X’s Maroochydore copper-cobalt deposit. Under the terms of the agreement FMG will explore Carawine’s eastern Paterson project tenements targeting copper, gold and base metals. Fortescue is to pay $125,000 cash up front and spend $0.5 million on exploration in the first eighteen months. Elsewhere in WA, Carawine has the 100 per cent-owned Oakover project, located in the Eastern Pilbara region, comprising fourteen granted exploration licences and one exploration licence application with a total area of about 2,500sqkm. The Oakover project is prospective for copper, cobalt, manganese and iron. Last of all, the Fraser Range project includes six granted exploration licences in five areas: Red Bull, Bindii, Big Bullocks, Similkameen and Big Bang. Carawine has a JV with Independence Group (ASX: IGO) over the Red Bull, Bindii, Big Bullocks and Similkameen tenements, in which IGO currently hold a 51 per cent interest with prospect of earning an additional 19 per cent interest by spending $5 million by the end of 2021.
EMAIL firstname.lastname@example.org WEB www.carawine.com.au DIRECTORS Will Burbury, David Boyd, David Archer
Lithium Australia (ASX: LIT)
pyrometallurgical processing of spent lithium-ion
batteries (LIBs) can efficiently recover nickel, copper, cobalt and manganese from LIBs, but not the lithium or graphite. Research and development into the science by Western Australia-based battery recycling company, Lithium Australia (ASX: LIT) recognised that a potential alternative to the downsides associated with pyrometallurgical processing is to take a hydrometallurgical approach. LIBs enable us to cope with the technological demands of modern living, such as maintaining a charge on our mobile phones or computer-related devices, thus keeping us contacted with the rest of the world and our family members in the next room. They are, presently, our greatest source of portable power yet are, ironically, creating an environmental nightmare. On a global basis only around nine per cent of spent LIBs are recycled to keep them out of landfill and recover valuable metals. In Australia, which is supposedly one of the recycling powerhouses, the recycling rate is embarrassing, some would say woeful, coming in at less than three per cent. What this all means is that the world is missing out on a great opportunity — that being the large quantity of batteries discarded globally which actually represents a potentially significant resource. Australia is a long way behind the countries that are presently leading the battery recycling wars. Belgium, South Korea, China and Canada recycle the most batteries, with the metals they contain generally recovered by smelting — or as it is referred to by those in the know — pyrometallurgical processing. Lithium Australia is developing a hydrometallurgical technique that recovers all metals, including lithium, from spent LIBs. Lithium Australia has openly declared that its corporate intentions include shoring up an ethical and sustainable supply of energy metals to the battery industry, thus enhancing energy security in the process. The company is eager to create a circular battery economy and has highlighted the recycling of old lithium-ion batteries to new, is intrinsic to this plan. In October 2019, Lithium Australia announced it had increased its equity in Envirostream Australia Pty Ltd (EA) to 23.9 per cent. Envirostream is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of spent LIBs. In December, Lithium Australia completed a JV for joint battery marketing operations with China-based battery and energy storage specialists the DLG Group (DLG). The JV will trade as Soluna Australia Pty Ltd, and will sell lithium-ion batteries (LIBs) and Soluna energy storage products into the rapidly expanding Australian renewables energy market. Lithium Australia’s 100 per cent-owned subsidiary company, VSPC Ltd has developed advanced processes for manufacturing lithium-ferro-phosphate (LFP) cathode powders at its R&D and pilot plant facility in Brisbane, Queensland.
The cathode powders produced by VSPC possess simple nanotechnology that produces superior battery cathodes, provides control of composition and particle size in a precise manner and highly reliable quality control with low production costs. VSPC Ltd signed a Memorandum of Understanding (MoU) with Beijing Saideli Technology Incorporated Company Ltd (SDL) to commercialise VSPC cathode material. The terms of the MoU include the low-capital establishment of a supply chain for VSPC cathode material in China, and collaboration on a feasibility study for an international cathode material project, beyond China, using VSPC technology. The MoU was agreed following technical review and discussions based on VSPC’s Lithium-Ferro-Phosphate (LFP) cathode product. VSPC is a developer of advanced cathode materials that owns a patented process for the production of lithium-ion battery (LIB) cathode materials. SDL’s experience lies in the design and manufacture of process equipment and extensive experience in the construction, commissioning and operation of chemical process plants, including those for the production of LIB cathode powders. The market for LFP cathode material is anticipated to enjoy a strong run in the near future with analysts forecasting to grow strongly over the next decade. In addition to core applications for ebus and stationary storage, heightened demand is expected through substitution (existing) and displacement (expanding) in applications that have traditionally been the domain of lead acid batteries. This includes, but is not limited to, 12V and 48V applications for micro and mild hybrid powertrains, LSEV (low speed electric vehicles), datacentre UPS and 5G tower backup. “We see partnering with SDL — which has a demonstrated track record in process development and high-tech process plant delivery — as a great opportunity,” Lithium Australia managing director Adrian Griffin said. “VSPC’s MoU with SDL provides Lithium Australia with a lowcapital pathway to the commercialisation of VSPC cathode powders, in order to meet targets set by our other partners in China.”
EMAIL email@example.com WEB www.lithium-au.com DIRECTORS Adrian Griffin, Bryan Dixon, George Bauk
This award is in memory of Craig Oliver who passed away on Saturday 19 June 2010, aged 46. Craig was on the Sundance Resources plane which tragically crashed in the Congo with the loss of all people on board. Craig made a lasting contribution to Australian mining over the course of his 20 year career. He was an all rounder who was involved in many aspects of the industry, including exploration, mining, financing and developing new projects, promoting companies and fighting political battles. He was one of the key people behind the successful Anti-Resources Tax rally held in Perth in mid 2010. The Craig Oliver Award will be presented annually to an â€˜all roundâ€™, small to mid cap Australian mining company which has excelled in areas including exploration, mining, corporate, market results, environmental and community over the past 12 months. Previous winners were: 2011 Independence Group NL
2014 Northern Star Resources Ltd
2017 Evolution Mining Ltd
2012 Silver Lake Resources Ltd
2015 Doray Minerals Ltd
2018 Pilbara Minerals Ltd
2013 Sirius Resources NL
2016 Metals X Ltd
2019 MOD Resources Ltd
2020 Award Nominees Alkane Resources Ltd (ASX:ALK)
Image Resources NL (ASX:IMA)
Bellevue Gold Ltd (ASX:BGL)
Stavely Minerals Ltd (ASX:SVY)
Gold Road Resources Ltd (ASX:GOR)
The winner of the 2020 Craig Oliver Award will be announced at 9.30am on Wednesday 19 February, in the Main Auditorium
Ardea Resources (ASX: ARL)
ardea resources boasts a large portfolio of 100 per cent-controlled West Australian-based projects. The company’s flagship is the Goongarrie nickel-cobalt project, that forms part of the broader Kalgoorlie nickel-cobalt project in Western Australia. Ardea claims Goongarrie to be part of the largest nickel-cobalt Resource in the developed world with potential to be a multi-generational mine offering outstanding multi-commodity exposure which includes cobalt, nickel, scandium, vanadium, chromium, aluminium and gold. Ardea’s other WA projects include Bedonia West, comprising E63/1827 and E63/1828 covering 358 square kilometres to complete Ardea’s coverage of the Jimberlana Dyke west of the existing Bedonia prospect. Ardea has confirmed previously identified anomalous nickel-copper-PGM soil auger geochemistry is coincident with a specific intrusive phase of the Jimberlana Dyke lopolith. The Perrinvale E29/1006 covers 175sqkm along the eastern strike continuation of the ‘Cathedrals’ Proterozoic Dyke complex. The application was based on Ardea recognising lopolith mineralisation controls at Bedonia. The company hopes to secure similarly endowed lopolith geological settings, as well as the northern strike continuation of the domain boundary Ida Fault hosting the Mt Ida gold mining centre. Goongarrie is a readily global-scale project, which Ardea is developing with the aim of becoming a long-term producer of high-quality nickel-cobalt sulphate. The project currently hosts a Resource of 773 million tonnes at 0.71 per cent nickel and 0.05 per cent cobalt and offers plenty of upside with only five per cent of the company’s Kalgoorlie nickelproject landholding being factored in to the current resource. Ardea is positioning Goongarrie to be a supplier of high-purity cobalt and nickel sulphate for lithium-ion batteries to meet the burgeoning demands of the growing automotive electrification, a market expected to account for 14 per cent of new car sales by 2025, whilst the cobalt sulphate market is forecasted to reach US$9.5 billion by 2025. Increased demand for cobalt sulphate is driven by the higher energy density it provides to both electric vehicle and energy storage system batteries. A Pre-Feasibility study demonstrated Goongarrie to be a highly valuable development project and Ardea is determined to continue to advance the project toward a final investment decision. Recent work undertaken close to Goongarrie included rock chip sampling of old workings and sporadic outcropping that confirmed gold mineralisation over an area of at least 400 square metres at the Mulga Plum gold prospect. The mineralisation encountered is mostly vein-hosted, returning up to 17.1 grams per tonne gold in selective quartz lode material. All rock types assessed returned an average grade of 1.8g/t gold for all samples taken, which the company interpreted to suggest the
presence of bulk tonnage potential within a dominantly granite host. Ardea is evaluating Mulga Plum as a bulk-tonnage gold system as part of its broader aim to prove up and mine gold from its suite of projects near the Goongarrie project and these results bolstered its confidence in the project to proceed to early stage drill evaluation of the project. A systematic shallow RC drill program of 26 angled RC holes of 50 to 70m each to define extent and orientation of near-surface gold mineralisation was being planned at the time of writing. Much of Ardea’s 2019 was focused on the spin out of the company’s New South Wales Lachlan Fold Belt gold-base metal projects into Godolphin Resources (ASX: GRL). This was completed in December, after which Godolphin’s development focus will be the Lewis Ponds gold-zinc and Mount Aubrey gold projects associated with the Lachlan Transverse Zone (LTZ) of the Lachlan Fold Belt (LFB) in central NSW. Since its listing in 2017, Ardea quickly became the second largest mineral tenement holder in NSW amassing a dominant land position it acquired through detailed project scale and regional data compilation and analysis. Work completed by Ardea advanced these NSW projects towards defining four separate JORC Code-compliant mineral resources. Work programs completed include land-holder access agreements, digitally capturing historic exploration data, geological mapping and soil auger geochemistry, leading to the definition of drill-ready targets across granted Godolphin tenure. “We understand that different investors in Ardea have preferences for different asset exposure and with the Godolphin spin-out, we can clearly separate the WA Goongarrie nickel cobalt project nickel production opportunity from the New South Wales gold production opportunity with ancillary gold/base metal exploration,” Ardea Resources CEO Andrew Penkethman said. “This will drive superior value for shareholders in both entities. The New South Wales assets being in a separate fully independent vehicle will crystallise their value and allow them to be advanced independently of Ardea’s West Australian exploration and development initiatives.”
EMAIL firstname.lastname@example.org WEB www.ardearesources.com.au DIRECTORS Andrew Penkethman, Katina Law, Ian Buchhorn, Wayne Bramwell
Hot Chili (ASX: HCH)
presents early in 2019 when it encountered, what the company described as, “one of the best global drill results of 2019”. Hot Chili hit the intersection at the company’s Cortadera copper-gold porphyry discovery in Chile that returned: »» CRP0020D 972 metres at 0.5 per cent copper and 0.2 grams per tonne gold from surface. The intersection included the widest zone of high-grade the company had recorded at Cortadera of: »» 412m at 0.7 per cent copper and 0.3g/t gold from 436m. “Cortadera is continuing to outperform expectations the company had set following our announcement of a deal to acquire the privately-held discovery in February this year,” Hot Chili managing director Christian Easterday said. “We have recorded many stand-out drill results this year, but this 972 metres drill result from surface firmly announces Cortadera’s arrival on the global copper stage. “In little over nine months we have transformed the growth trajectory for our company and outlined what could become the world’s next Tier-1 copper-gold discovery.” Cortadera is a major copper-gold porphyry discovery located along the Chilean coastal range, 14 kilometres from the company’s large-scale Productora copper development and adjacent to its high-grade El Fuego satellite copper projects. Hot Chili acquired 100 per cent ownership of Cortadera in February 2019, after which it quickly commenced a confirmation drilling program that confirmed and extended areas of surface enrichment and wide, higher-grade, copper-gold sulphide mineralisation at depth, which had not previously been closed off by 23,000m of historical diamond drilling. A key to Hot Chili’s initial success at Cortadera was the discovery and definition of a large and robust high-grade core to the largest of Cortadera’s four porphyry centres — Cuerpo 3. The average grade of drill intersections recorded by Hot Chili within the high-grade zone of Cuerpo 3 ranges between 0.7 to 0.9 per cent copper and 0.3 to 0.4g/t gold. The combined copper-gold drill intersection grade of the Cuerpo 3 high-grade zone compares well to the reserve grade of other largetonnage underground mines. Hot Chili followed up the above intersection with further drill results that outlined a second large source of bulk tonnage, high-grade copper and gold at the Cortadera discovery. The results demonstrated that the drilling being carried out is continuing to grow the discovery, and just as importantly, is also providing strong encouragement for both open pit and underground, high-grade, development options. The company kept both diamond and Reverse Circulation (RC) drill rigs spinning, the latter testing the extent of shallow chalcocite enrichment zones across three of the four Cortadera porphyry
hot chili received its christmas
centres it has discovered to date. Thirteen shallow Reverse Circulation (RC) drill holes were completed, from which results were available for seven across Cuerpo 2, the second largest porphyry at Cortadera. These results confirmed and extended a bulk tonnage zone of high-grade copper and gold from surface. The highlight drill result came from hole CRP0021 that recorded: »» 80m at 0.8 per cent copper and 0.3g/t gold from surface, including a high-grade chalcocite zone of 26m at 1.7 per cent copper and 0.7g/t gold from a down-hole depth of 54m. »» High-grade zones related to chalcocite enrichment were drill confirmed at Cuerpo 1, 2 and 4, from surface and from shallow depth, with drill intersection copper grades ranging between 0.7 to 1.6 per cent and gold grades ranging between 0.3 to 0.7g/t gold. The results achived to date show Hot Chili has a project in Cortadera that is shaping up as a globally important standalone copper-gold project, which can utilise the Productora project resources, while leveraging from a central processing and combined infrastructure approach along the coastline of Chile. The company believes its recent discovery and addition of a higher-grade bulk tonnage underground development opportunity at Cortadera places it in a unique position amongst potential large-scale global copper-gold developments. Hot Chili has received regulatory approval providing access to expand its phase 2 drilling program, which is expected to include first drill testing of two large growth targets identified close to the Cortadera discovery window: Cuerpo 3 North and Cortadera North. Further results from the shallow RC drill program and expansion diamond drill program are anticipated for release this year. Hot Chili is well positioned to capitalise on the numerous worldclass drill results that have established Cortadera as one the stand-out global copper-gold discoveries of 2019. Drilling activities are set to accelerate in 2020 toward a first resource estimate with hopes of advancing various future funding discussions with several large domestic and international groups.
EMAIL email@example.com WEB www.hotchili.com.au DIRECTORS Murray Black, Christian Easterday, Dr Allan Trench, Michael Anderson, Roberto de Andraca Adriasola, Randall Nickson
Azure Minerals (ASX: AZS)
to miner in 2019 when it commenced mining operations at the company’s 100 per cent-owned Oposura zinc-lead-silver project, located in Sonora, Mexico. Azure completed the first phase of a small-scale, multi-phase mining program at Oposura that delivered impressive results. Open pit mining selectively extracted near-surface, high-grade, massive zinc and lead sulphide mineralisation, from which ore tonnages and grades far exceeded the Mineral Resource estimate Azure had determined for this part of the deposit. “To be getting more tonnes and much higher grades than we had expected gives us great confidence in the project as we advance Oposura toward large-scale mining and on-site processing,” Azura Minerals managing director Tony Rovira said. Azure commenced mining at Oposura in August and within two months had mined and stockpiled 6,100 tonnes of high-grade ore. Based upon close-spaced Reverse Circulation (RC) grade control drilling and systematic stockpile sampling, the company estimated average grades of the mined ore to be 13.4 per cent zinc and 10.7 per cent lead, surpassing the estimated average East Zone open pit mine grade from the 2018 Oposura Scoping Study of 5.1 per cent zinc and 2.6 per cent lead, laying a solid foundation for a future large-scale mining and processing operation. An extended refurbishment program delayed the commencement of operations at the third-party San Javier processing plant; however, Azure was able to locate a second plant in the district that may be suitable for processing Oposura ore and trial processing of a small batch of ore at that plant was undertaken. Steady state toll treatment of the Oposura ore was due to commence in December to produce separate zinc and lead-silver concentrates, which Azure expects to sell on the spot market to locally-based metals traders or smelters, several of which expressed strong interest in these products. Azure has indicated it plans a second phase of open pit mining to be undertaken following a successful processing operation producing saleable concentrates. This mining is expected to provide a stable western face for portal access for the planned underground mining operation. The portal and subsequent drive will access the historical Tunnel D which will be side-stripped to provide mechanised access to the western high-grade zone. Underground development will be undertaken in ore to offset establishment costs prior to selectively mining the high-grade ore zone by the room and pillar method. Azure was also able to regain 100 per cent ownership of the Alacrán silver-gold project from Minera Teck S.A. de C.V., a subsidiary of Canadian mining company Teck Resources Limited, which became a substantial shareholder of Azure. Azure’s previous exploration activity on Alacrán in 2015 and 2016 discovered the near-surface, high-grade Mesa de Plata silver deposit and the adjacent Loma Bonita gold-silver deposit.
azure minerals moved from explorer
These deposits boast resources totalling: »» Mesa de Plata: 10.5 million tonnes at 82 grams per tonne silver for 27.4 million ounces of silver that includes an at-surface high-grade zone of 1,8 million tonnes at 275g/t silver for 15.5 million ounces of silver; and »» Loma Bonita: 5.4 million tonnes at 0.9g/t gold and 28g/t silver for 150,000 ounces of gold and 4.8 million ounces of silver. Azure commenced drilling at Alacrán before Christmas, reporting encouraging surface sampling results from a strongly gold-mineralised breccia located in a road cutting approximately 400m southeast of the Loma Bonita resource boundary. Channel sampling of the exposed mineralised zone returned 35.5 metres grading 3.6g/t gold and this zone has been earmarked for drill-testing in the current program. The company is also planning drilling to test the Cerro San Simon prospect where previous drilling returned several wide intersections of low to moderate grade gold mineralisation. While all this was happening, Azure completed the acquisition of the Sara Alicia II mineral concession that adjoins the company’s 100 per cent-owned Sara Alicia property in the northern Mexican state of Sonora by overturning an historical cancellation of the Sara Alicia II mineral concession. The acquisition, when combined with the original Sara Alicia concession, brings the total project area to 49 hectares, strengthening Azure’s position in a gold and cobalt-rich district. “Sara Alicia II adjoins our current holding and, importantly, the combined area covers the full footprint of the body hosting the high-grade gold and cobalt mineralisation,” Rovira said. “We have been working on acquiring this very strategic concession for over two years and exploration at Sara Alicia was suspended so as not to generate further interest in the area and to ensure the acquisition of Sara Alicia II was completed without interference or competition.”
EMAIL firstname.lastname@example.org WEB www.azureminerals.com.au DIRECTORS Peter Ingram, Tony Rovira, Dr Wolf Martinick
Northern Minerals (ASX: NTU)
the enormity of australian heavy rare earths producer, Northern Minerals’ Browns Range project is difficult to encapsulate in such a short feature, however we will try. The Browns Range project is centred on the Browns Range Dome, a geological feature in the northern Tanami region, straddling both Western Australia and the Northern Territory. The landholding has proven highly prospective for heavy rare earth mineralisation with plenty of potential for further discoveries. Northern Minerals has 100 per cent ownership and marketing rights for all but three of the Browns Range Dome tenements and is earning up to an 80 per cent interest in the remaining three that are in Joint Venture with Toro Energy. The company has substantial deposits of heavy rare earths, particularly the high value element, dysprosium, which became the leading commodity in the development of the project. Northern Minerals is positioned to become the world’s first major producer of dysprosium outside of China. Accounting for 60 per cent of Browns Range revenue, dysprosium is the key value driver of the project and is at the core of Northern Minerals’ marketing strategy. With a high-value, high-purity, dysprosium-rich product, the company is set to become a long term and reliable supplier of dysprosium and other critical heavy rare earths to world markets. Dysprosium is an essential element in the production of neodymium permanent magnets as it makes them long lasting and able to retain efficiency at extremely high temperatures. We are slaves to technology and rare earths (REs) enable that technology to be smaller, lighter and more efficient, being a key component in the manufacture of clean energy and high-end technology solutions. The role REs play in the manufacturing of hybrid and electric vehicles and other high-tech applications has prompted countries to seek long term sustainable supplies to support domestic industries. Recent work at Browns Range has involved a separation study by US-based K-Technologies (K-Tech). The study is investigating the possibility of applying separation technology on intermediate mixed rare earths materials produced at Browns Range. If it works, the technology will enable Northern Minerals to produce separated rare earth oxides that currently require separation in China—including dysprosium oxide and terbium oxide. The company has partnered with (K-Tech) to assess the suitability of separating Browns Range intermediate mixed rare earth materials with the latter’s proprietary technology. “It’s exciting to see positive results from the first stages of bench scale testwork being undertaken at K-Tech,” Northern Minerals managing director and CEO George Bauk said. “If successful, we would have a clear pathway to advance downstream in the supply chain to supply separated products to a much wider customer base. “We have moved quickly to advance the ore sorter project,
identified as a potential game changer for the project. “Higher grades going into the plant would result in higher production rates and lower operating costs, a double win in terms of improving the economics of the Browns Range project.” The Browns Range is the first xenotime-hosted rare earth project to be developed anywhere in the world, which means the company needs to fully understand metallurgical processes involved before committing to a full-scale development. To carry out the appropriate testing the Browns Range Pilot Plant Project has been developed to assess the economic and technical feasibility of a larger scale development. A staggering 271 individual R&D projects have been planned for the three-year pilot plant stage to conduct experiments on most areas of the plant, including fine grinding, magnetic separation, flotation, leaching, purification and ion exchange, with a focus on improving the efficiency and operation of the sulphation bake kiln. Although the company is targeting full-scale steady state production by in H1 2020, the variable nature of the R&D program means it is unlikely it will be in a position to forecast production rates during the program. Northern Minerals was recently able to strike a new offtake agreement with thyssenkrupp Materials Trading Gmbh for 100 per cent of offtake from the Browns Range Pilot Plant Project. Under the terms of the agreement, all heavy rare earth carbonate will be purchased by thyssenkrupp from the Pilot Plant project, while supplying future flexibility for Northern Minerals to supply heavy rare earths as separated products. Importantly, the agreement also allows for the sale of the mixed heavy rare earth carbonate product as well as separated rare earth oxides, should Northern Minerals decide to move to product separation during the Pilot Plant project. The offtake agreement includes all stockpiled product from current and future Pilot Plant project production.
EMAIL email@example.com WEB www.northernminerals.com.au DIRECTORS Colin McCavana, George Bauk, Adrian Griffin, Yanchung Wang, Ming Lu, Bin Cai
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Matador Mining (ASX: MZZ)
matador mining is looking for gold in Canada, specifically on the company’s 80 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland. To date, only a 14km zone of that 80km package that makes up the company’s 100 per cent owned Cape Ray gold project has been drilled, but this has already established a JORC code-compliant Resource of 14.25 million tonnes at 2.2 grams per tonne gold for 1.02 million ounces of gold. Matador Mining believes the exploration opportunity it has at Cape Ray to be extensive, something that could be considered a fair assumption, give only a small portion of the 80km strike has been drilled, and numerous high-grade gold occurrences have been observed along trend. Indicative of this potential was the results the company achieved in the latter part of 2019 from a drill program focused on shallow resource extensions at Window Glass Hill (WGH) (currently 134,000 ounces at 1.2g/t gold). This program consisted of 30 drill holes drilled at an average depth of 118m that substantially expanded the strike of mineralisation at WGH from approximately 500m to around 1.2km and remains open. The drilling determined that hat mineralisation to the north is trending in an up-dip trajectory from the existing resource, with the average depth between 30m to 70m from surface. This shallow mineralisation encountered in drilling aligned with the company’s strategy of targeting open pittable gold. “The 2019 drill program at Window Glass Hill provides further confirmation of the importance of this deposit to the company’s overall long-term exploration and development strategy,” Matador Mining executive director Keith Bowes said. “To have expanded the mineralisation of this single deposit to 1.2 kilometres, which remains open along strike and identified numerous new drill targets in close proximity, is a great result for our exploration team. “We look forward to 2020’s program, which we expect will further add to this resource that is likely to become an integral part of our mining strategy at Cape Ray.” Matador Mining has identified a number of ‘walk up’ drill targets for 2020, the testing of which will be focused on further growing the WGH resource. Two step-out drill targets have been identified from interpreted mineralisation extensions. The northern extents of the Central Shear 2, combined with drill results highlights the potential for further resource growth in these areas. Three brownfield targets were identified through a combination of structural mapping, high-grade rock chips as well as historical drill results.
Exploration will initially include additional mapping and sampling prior to reconnaissance drilling later in the season, although the company is already confident in the potential of these targets, given the similarities to the current resource surface geology. Matador believes there is plenty of untested greenfield potential about the place, withits eyes initially on the WGH granite contains the WGH deposit as well as the PW deposit, which is located on the southern extension of Central Zone. Outside of the interpreted mineralised area, only three drill holes have been drilled on the southern portion of the granite unit on this area that stretches for approximately 2km of potential strike. The company also completed the first soils program over the nearby Granites prospect during 2019, results from which were expected in early 2020. Infill sampling, structural mapping and rock-chipping are planned for this area prior to potentially testing with drilling later in the season. Matador Mining has appointed DRA Pacific to carry out a Scoping Study that will assess gold production at the Cape Ray gold project and the potential for an open pit gold operation with ore processed through a standard carbon in leach (CIL) facility. Metallurgical testwork completed early 2019 determined average gold recoveries of 96 per cent across all deposits. Key inputs for plant and infrastructure design have been sufficiently progressed to accurately scope the work required by the engineering consultancy. The Study will be based on an updated mineral resource that was expected to be released early in 2020. The mineral resource update will incorporate results from the extensive 2019 exploration program that involved the largest program at the project in more than 30 years. “We have taken the time to complete a comprehensive review of the project so as to understand how to extract the optimum value from the asset and have ensured the key input data is available for the Study so as to limit assumptions and reduce risks going forward,” Bowes said. “We…are confident that we will achieve a highly positive and robust result”
EMAIL email@example.com WEB www.matadormining.com.au DIRECTORS Keith Bowes, Adam Kiley, Grant Davey
Blackstone Minerals (ASX: BSX)
blackstone minerals took a lot of market pundits by surprise when it announced it was entering a binding term sheet for the exclusive option to acquire a 90 per cent interest in the Ta Khoa nickel project. The Ta Khoa nickel project is located 160 kilometres west of Hanoi in the Son La Province of Vietnam and includes an existing modern nickel mine built to Australian Standards that was under care and maintenance. The Ban Phuc nickel mine operated as a mechanised underground nickel mine from 2013 to 2016 and its previous owners invested more than US$136 million in capital and generated US$213 million in revenue during a 3.5-year period of falling nickel prices. The project was placed into care and maintenance in mid-2016 during some of the lowest nickel prices in the past 10 years. Existing infrastructure associated with the project includes an internationally-designed 450,000 tonne per annum processing plant connected to local hydro grid power with a fully-permitted tailings facility and a modern 250- person camp. Blackstone Minerals had its eyes on the potential the project offers with the 150 square kilometre land package hosting more than 25 advanced stage massive sulphide vein (MSV) targets and many large disseminated sulphide (DSS) targets including the unmined Ban Phuc DSS. Blackstone also signalled its interest in investigating the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium ion battery industry. “Blackstone will be the first company to explore Ta Khoa for both MSV and DSS nickel sulphide deposits all the while investigating downstream processing opportunities to meet the demands of the growing Asian lithium ion battery sector,” Blackstone Mineral managing director Scott Williamson said. Blackstone wasted little time in getting the drills spinning on site at Ta Khoa and produced a steady stream of intersections of disseminated nickel sulphide. The project also demonstrated potential for substantial platinum group element (PGE) credits with Blackstone becoming the first company to assay the Ban Phuc DSS for PGEs, which resulted in the recent uncovering of what the company considers as a previously unrecognised opportunity. Previous operators focused on the Ban Phuc MSV, which has relatively low PGE grades, and hence did not consider or investigate the full potential of the PGEs throughout the Ta Khoa project. Blackstone’s maiden PGE assays combined with the abundance of disseminated nickel sulphide targets, leading the company to think PGEs associated with disseminated nickel sulphide mineralisation could greatly improve the economics of the Ta Khoa nickel project. Blackstone ended 2019 on a high by entering a memorandum of understanding (MoU) with Korea’s largest electric vehicle (EV) battery cathode manufacturer. Blackstone inked a non-binding MoU with Ecopro BM Co Limited that outlines an alliance structure whereby Ecopro BM
and Blackstone will work in partnership to develop a downstream processing facility in association with the company’s Ta Khoa nickel project in northern Vietnam. The MoU is a boon for both entities in that Blackstone wishes to engage a development partner to provide funding to commercialise the Ta Khoa nickel project, while Ecopro BM has indicated its willingness to enter into an alliance with Blackstone with a view to formalising a Joint Venture on the downstream processing infrastructure project in association with the project. The intention of the MoU is for the parties to enter into an alliance to form a JV with the intention to develop a suitable nickel, cobalt or other battery mineral product for lithium-ion battery manufacturing. “Our Ta Khoa nickel project has significant potential to deliver the critical raw materials required for Ecopro’s cathode manufacturing process and meet the ever-increasing demand for high-nickel content cathodes driven by the imminent electric vehicle (EV) revolution,” Williamson said. Blackstone is very keen to deliver a maiden resource on the disseminated sulphide (DSS) at Ban Phuc as it investigates the potential to restart the existing Ban Phuc concentrator through focused exploration on both massive sulphide veins (MSV) and DSS deposits. The company commenced a scoping study on the downstream processing facility at Ta Khoa, the purpose of which is to provide detail for potential JV partners to formalise a binding agreement. Blackstone also commenced metallurgical testing on the Ban Phuc DSS orebody with an aim to develop a flow sheet for a product suitable for the lithium ion battery industry. In addition, Blackstone intends to investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium ion battery industry.
EMAIL firstname.lastname@example.org WEB www.blackstoneminerals.com.au DIRECTORS Hamish Halliday, Scott Williamson, Andrew Radonjic, Steve Parsons
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Trigg Mining (ASX: TMG)
trigg mining’s ambitions lie in
securing Australia’s sustainable agriculture future through the exploration of the essential potassium fertiliser, sulphate of potash (SOP). Trigg is looking to establish a domestic source of SOP, given that currently Australia imports all its potassium fertiliser needs, often from as far away as Canada and Germany, despite potassium-rich brines being known to exist in the desert regions of Western Australia. “This is mining in name more than anything else, because it is an evaporation-style mineralisation,” Trigg Mining managing director Keren Paterson said. “It’s about agricultural mineralisation and food supply…we have been out speaking with farmers in Western Australia, because our projects are very close to the WA agricultural sector, so it’s important to understand the needs of our farmers and the people who produce our food. “We have resources here in Australia and we can’t wait to define what potentially will be ours and to engage with the farmers of Western Australia and Australia as a whole.” Trigg Mining has built a competitive footprint across two SOP Projects in the Goldfields of WA: the Laverton Links and Lake Throssell potash projects. The company stated aim is the exploration for naturally occurring SOP, found in potassium-rich hypersaline brine water, which provides two essential elements for plant growth and human nutrition - potassium and sulphur. Beside from its ability to provide these two important macro nutrients, the other important characteristic of SOP is that it contains very little chloride which is detrimental to many crops such as fruit and vegetables including avocados, cocoa, coffee beans, grapes, berries and tree nuts, as well as arid and acidic soils. The sustainability factor stretches to the production of SOP, which can be achieved through the solar evaporation of potassium-rich hypersaline brine water, without the need for large open pits or waste-rock dumps. “It’s very simple exploration,” Paterson continued. “It’s aircore drilling that is shallow as we are exploring for the water — the minerals are already dissolved in the water.” Trigg Mining’s SOP projects do just this and extend the company’s ambitions by being located approximately 200 kilometres east of Laverton in Western Australia close to established energy and transport infrastructure for access to Australian and international agricultural markets. The projects cover more than 3,000 square kilometres and contain over 400sqkm of salt lake playa and 375km of interpreted palaeochannels (ancient underground rivers), all of which are considered by the company to be highly prospective for brine hosted SOP. Just as 2019 was coming to a close, Trigg Mining announced a new discovery of high-grade SOP at its Lake Throssell SOP project. The discovery came via hand-auger brine samples that returned high-grades of up to 6,660 milligrams per litre (mg/L) potassium or
14.8 kilograms per cubic metre (kg/m3) SOP equivalent. An average grade of 5,296mg/L potassium, or 11.8kg/m3 SOP equivalent was achieved from 18 samples. The results set Trigg to the drawing board to immediately plan activities to target the basal sand aquifer of the palaeochannel in 2020, including geophysical surveys and exploration drilling. The company plans an initial air core drilling program in 2020 to map and sample the underlying palaeochannel in conjunction with additional near-surface sampling, with the aim of establishing an initial JORC Mineral Resource. The early indication of potential mineralisation led the company to apply for two new tenements to the north and the south of Lake Throssell along the interpreted underlying palaeochannel, securing the Lake Throssell system, taking the project area to 752sqkm, all of which it considers prospective for SOP mineralisation with a 106km trend. “The Lake Throssell Sulphate of Potash project is shaping up to be a significant SOP project,” Paterson said. “These high-grade results across the playa and the potential scale of the underlying palaeochannel makes this discovery one of the most important for Australia’s emerging SOP industry and our nation’s food security.” Trigg struck an agreement to purchase a tenement covering the western portion of Lake Rason, paying $20,000 for exploration licence E38/3437. The tenement is not expected to be granted until Q3 FY20, however Trigg believes the additional ground in the Lake Rason area has the potential to enhance the anticipated Mineral Resource estimate following completion of sampling and drilling programs with 10km of direct lake trend to be added to the existing 42km lake trend. Early exploration work carried out by the company has established a JORC Code-compliant Exploration Target at the Lake Rason prospect and identified the palaeochannel and SOP mineralisation at the Lake Hope Campbell prospect.
EMAIL email@example.com WEB www.triggmining.com.au DIRECTORS Keren Paterson, Mike Ralston, Bill Bent
Breaker Resources (ASX: BRB)
breaker resources kicked off a major reverse circulation (RC) and diamond drilling program last year, designed to grow the one million-ounce Bombora Resource within the company’s Lake Roe gold project, east of Kalgoorlie in Western Australia. The Lake Roe project is located between two large gold deposits, the 3.5 million-ounce Carosue Dam mine and the 0.9 million-ounce Karonie gold deposit, located 60km north and 40km south of Lake Roe respectively. The main focus of the drilling is intended for extensions and discovery outside the Resource envelope, both along strike and at depth. Drilling is expected to continue throughout 2020, using at least three drill rigs. Diamond drilling at Bombora South is looking to extend the 3.2-kilometre-long gold system to the south with the objective to discover and extend the main mineralised structures (faults) controlling the gold mineralisation observed at Bombora, prior to follow-up resource drilling. RC and diamond drilling earmarked for Claypan will test a 2.5km by 500m gold anomaly identified by earlier aircore drilling 1.3km southeast of Bombora. The Claypan anomaly is partially coincident with a newly identified, Bombora Sill-like quartz dolerite and has a geochemical signature comparable with that associated with the Bombora and Crescent primary discoveries. As with Bombora South, the initial objective is discovery and to pin down the main structures controlling the mineralisation to guide further drilling. The diamond and RC drill rigs were scheduled to drill up to Christmas and then resume early in the New Year. Drilling undertaken earlier in 2019 had led to the discovery of a new steep lode with abundant coarse visible gold approximately 420m below surface in the southern part of the Bombora gold deposit. Drill hole BBDD0086 encountered a 160m step-out hole that also hit a strong intersection of the high-grade Tura Lode, extending its known strike length to over 800m. This result was considered important by the company, which interpreted it to further highlight the potential to increase the existing 1.1-million-ounce Resource at depth, and collectively reinforces the emerging underground mining potential at the Lake Roe project. Breaker reported the Tura Lode intersection in hole BBDD0086 intersected 4.44m of sheared and altered lode with 2 per cent to 20 per cent sulphide, approximately 320m below surface. “Of the ten wide-spaced, exploratory drill holes that have tested a significant thickness of the favourable quartz dolerite below the current Resource (250m below surface), four have intercepts exceeding 30 gram-metres and a further two intercepts exceed 15 gram-metres,” Breaker Resources executive chairman Tom Sanders said.
“This is an outstanding strike rate for reconnaissance-style drilling, and it says that the long-term underground mining potential is wide open.” 2020 will see a third diamond drill rig targeting the down-plunge extensions of the Tura, Daisy and Mindil lodes below the current Resource where reconnaissance drilling has previously identified high-grade gold mineralisation. The initial hole in this area will be a deep (~1,200m) diamond drill hole at the southern end of the Bombora deposit and will be conducted as part of a Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme (EIS) co-funded drilling program. “The drilling campaign was designed to accelerate the unlocking of the immense exploration potential at Lake Roe,” Sanders said. “Our team has done a great job unravelling the geology and believes there is huge scope to grow the one-million-ounce Resource based on a good understanding of the geology after 225,000 metres of drilling and detailed modelling. “We are now applying this understanding outside the 3.2-kilometre Resource area to the rest of the 8.5 kilometre mineralisation system. “The targets are a mix of prospects, some of which have already yielded strong reconnaissance intersections but which are poorly understood and inadequately drilled due to the early focus on Bombora (Bombora South, Bombora Deeps, Crescent). “Other targets have compelling geochemistry with significant aircore drilling intersections that elevate the probability of fresh discovery (Claypan, Claypan North). “I think this will translate into cost-effective extensional ounces and further discovery but it is now time to let the drill bit do the talking. “The business case for our strategy is sound and simple. “Our discovery cost at Bombora is approximately $18 per ounce…and the market is valuing resource ounces like ours at around $65 per ounce, rising to over $250 per ounce in many cases as projects develop. “We believe drilling to expand the resource base is likely to add significant value and expand our development options.”
EMAIL firstname.lastname@example.org WEB www.breakerresources.com.au DIRECTORS Tom Sanders, Mark Edwards, Mike Kitney, Linton Putland
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Image Resources (ASX: IMA)
image resources kicked off 2019 by loading its first bulk shipment of nominally 10,000 wet metric tonnes of heavy mineral concentrate (HMC) from the company’s 100 per cent-owned Boonanarring mineral sands project, located north of Perth in Western Australia. From there on the company barely looked back with production and sales results from Booonanarring in line with expectations and meeting its 2019 Calendar Year guidance figures, which were increased twice during the year. “It is pleasing…preliminary results for our inaugural full year of operations meet guidance and representations to our shareholders and the market and we look forward to our second year of operations and opportunities to further grow the value of the Company,” Image Resources managing director and CEO Patrick Mutz said. “In 2020 we will seek to build upon our operational successes by prioritising the addition of new Ore Reserves from existing and new Mineral Resources, while maintaining profitable operations and striving for continuous improvement of our safety, environmental protection and community support programs. “We have already commenced a robust and systematic exploration program which is designed to extend the mine life at Boonanarring and we are focusing on areas within economic pumping distance of the existing Wet Concentrate Plant. “We will also continue to assess opportunities to add further incremental value to our high-quality HMC product.” 2019 was not just about production and shipping targets and the company made great advances in exploration from drilling aimed at extending the mine-life at Boonanarring by identifying a new mineralised shoreline trend to the west of and parallel to the Boonanarring Ore Reserve area. Based on drill sample assays and ground based magnetic survey results, it is believed this trend may potentially extend for up to 40 kilometres. These results came in addition to an independent program of close-spaced drilling conducted across the eastern strand of the Boonanarring Ore Reserve for the purpose of reassessing the current Ore Reserve. Further drilling aimed at extending the mine life at Boonanarring was conducted in target areas to the north, south and west of the current Boonanarring Ore Reserve. The early results from this were positive and were what led to the identification of this new mineralized shoreline which was labelled 50mRL Strandline, as mineralised intercepts range from 48 to 55m RL. The 50mRL Strandline was interpreted to extend up to 40km from south of the town of Gingin to north of the Boonanarring Northern Extension and includes previously identified mineralisation in the western sections of Image’s Gingin South and Gingin North projects, and was subsequently found to include the Boonanarring West mineralisation. At the time of writing an extensive drilling program of a total 528 holes was being planned over the most promising areas identified along the 40km 50mRL Strandline.
Access for drilling was available for 40 per cent of the planned holes and the company was seeking to complete the remaining access with three landholders. All planned drilling is within economic pumping distance of the current Boonanarring wet concentration plant and is considered high-priority. Just before the Christmas break Image Resources updated the Ore Reserves at Boonanarring, resulting in a 24 per cent increase in the total heavy minerals (THM) ore grade and a 50 per cent increase in the in-situ zircon grade. »» Ore grade increased to 8.9 per cent THM (up from 7.2% in 2017 Ore Reserve); »» Zircon content increased to 27.5 per cent in the THM (up from 22.7%); »» In-situ zircon grade in the ore increased to 2.4 per cent (up from 1.6%). Higher THM ore grade and much higher in-situ zircon grades in the Ore Reserve provides for increased total HMC production for 2020, 2021 and 2022. Total forecast production for the three calendar years ended 31 December 2022 is now estimated at 830,000 tonnes HMC compared to the 2017 Bankable Feasibility Study updated in July 2018, of 740,000 tonnes HMC over the same period. “The increase in ore grade, and in particular the significantly higher in-situ zircon grade from the new Ore Reserve reaffirms Boonanarring as one of the highest grade, zircon-rich mineral sand projects in Australia,” Mutz said. “While the reduction in ore tonnes is disappointing, the improved project economics due to higher overall ore grades and the elimination of marginal ore will almost certainly provide a net positive result for shareholders. “We are also confident in our ability to add mine life through a robust and systematic exploration program which is already showing great promise on multiple fronts around Boonanarring due to the very high prospectivity of the area.”
EMAIL email@example.com WEB www.imageres.com.au DIRECTORS Robert Besley, Patrick Mutz, George Sakalidis, Chong Veoy (Aaron) Soo, Peter Thomas, Chaodian Chen, Fei (Eddy) Wu, Huang Cheng Li
Venture Minerals (ASX: VMS)
there has been plenty of action at Venture Minerals’ 100 per centowned Riley DSO iron ore mine in Tasmania as the company made serious moves to cash in on the current high demand and price for iron ore. Venture completed an updated Riley Iron Ore Mining Study with an associated Pre-Feasibility Study (PFS) that demonstrated strong returns from a low capex two-year project, the company believes to be well positioned to capture the current higher iron ore price environment. In addition to completing the study, having previously signed a Binding Terms Sheet for the Riley Iron Ore Mine off-take with Prosperity Steel, Venture signed a full off-take agreement for the Riley product for 100 per cent of the first two years of iron ore production. “The Riley Iron Ore Mining Study demonstrates the delivery of an exceptional Internal Rate of Return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production,” Venture Minerals managing director Andrew Radonjic said. The Riley DSO project is located 10km from the Mt Lindsay tin-tungsten deposit. The Mt Lindsay project covers 148 square kilometres in northwestern Tasmania within the contact metamorphic aureole of the highly perspective Meredith Granite. The project sits between the world class Renison Bell Tin Mine (Metals X Ltd/Yunnan Tin Group where more than 231,000 tonnes of tin metal has been produced since 1968) and the Savage River Magnetite Mine (operating for around 45 years, currently producing approximately 2.5 million tonnes per annum of iron pellets). Venture Minerals was able to secure co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020. Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project. The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets. The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey. Venture claims Mount Lindsay as being one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.
Tin is now a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500 tonnes in 2018). Venture has demonstrated the Renison-style target to be a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine. “The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Radonjic said. “With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project. “The Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high-tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech. “Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.” The company also has projects in Western Australia at the Thor prospect, the Pingaring project, the Odin prospect and the Caesar project. Drilling at Thor intersected massive sulphides confirming a 20 kilometre VMS style system.
EMAIL firstname.lastname@example.org WEB www.ventureminerals.com.au DIRECTORS Mel Ashton, Hamish Halliday, Andrew Radonjic, John Jetter
Magmatic Resources (ASX: MAG)
magmatic resources has a dominant 1,100 square kilometres land position in the East Lachlan Fold Belt in New South Wales. The company’s tenure includes three advanced porphyry gold-copper projects: Wellington North, Myall and Parkes, all sitting in prime position on the region’s two key geological features, the Molong Volcanic Belt and the Junee Narromine Volcanic Belt. The Wellington North project is located north of Newcrest’s Cadia Valley mines on the Molong Volcanic Belt, and three of its tenements essentially encircle Alkane Resources’ tenement that hosts that company’s recent Boda discovery. Several of Magmatic’s Wellington North project targets, including Lady Ilse and Rose Hill are close to Boda, sitting six kilometres and eight kilometres away respectively on Alkalic intrusives, similar to Boda. The company’s fourth project in the region, Moorefield, has multiple gold and polymetallic targets including the Boxdale-Carlisle Reefs 14km gold trend. Magmatic acquired the four projects in 2014 from Gold Fields Limited, which maintain a 15 per cent shareholding. The Boda discovery by Alkane caused a major rethink around the Magmatic Board table, initiating a strategic review of the company’s highly prospective East Lachlan assets and refocusing on its exploration and evaluation efforts. The turnaround came at a time when the company was considering a demerger of its NSW projects while proposing acquisitions of three Western Australian gold projects — both of which were cancelled. Magmatic adopted the position that Alkane’s success at Boda was a fairly stark reminder to the market that a portfolio such as the one it holds in the area represents one of the most substantial ground positions of any listed explorer. Pre-Alkane and Boda, the East Lachlan province has a history of hosting major copper-gold mining operations. These include significant metal endowments such as: Cadia Valley (52 million ounces gold and 9.2 million tonnes copper), Cowal (7.8 million ounces gold) and Northparkes (4 million ounces gold and 3.7 million tonnes copper. Exploration and development is also alive and well in the region, including: McPhillamys (2.2 million ounces gold), Marsden (1.2 million ounces gold and 0.68 million tonnes copper), Temora (1.8 million ounces gold and 0.43 million tonnes copper), and Tomingley (0.76 million ounces gold). The Boad discovery has also cast its shadow across Magmatic’s Parkes project Joint Venture with Japan Oils and Gas Metals National Corporation (JOGMEC). After spending three years and approximately $2.7 million on the project, JOGMEC and Magmatic recently agreed to discontinue the JV, resulting in 100 per cent of the project and its two licences (Alectown and Parkes East) remaining with Magmatic. This means Magmatic has basically inherited a project with around $2.7m already spent on exploration of several advanced key targets.
Of particular note is the diamond drilling carried out at the Buryan copper-gold porphyry target, which is approx. 20km from China Molybdenum and Sumitomo’s Northparkes copper-gold porphyry mine. While in existence the JV also completed an Aeromagnetic Survey at the Parkes East tenement, which identified nine new porphyry targets and three new orogenic gold targets. Magmatic considers Alkane’s Boda discovery and recent orogenic gold discoveries south of its Tomingley mine that is just north of the Parkes project highlight the great potential of the East Lachlan region for further major discoveries. Maintaining its reinvigorated East Lachlan focus, Magmatic Resources announced the appointment of NSW porphyry gold-copper specialist, Peter Duerden to the position of managing director effective from 3rd February 2020. Duerden is considered an expert on East Lachlan porphyry gold-copper systems having previously been district manager, NSW for Newcrest Mining and in charge of Alkane Resources’ North Molong Belt Alkalic Porphyry Gold-Copper exploration for 10 years. His region defining work at Alkane contributed greatly to the Boda porphyry gold-copper discovery. Catering for Duerden’s commencement as MD required some shuffling of chairs around the Boardroom table, which resulted in David Richardson assuming the role of executive chairman and previous chairman David Berrie moving to being a non-executive director. To maintain the appropriate board size, non-executive director Malcolm Norris agreed to step down from the Board. Maintaining his seat is recent appointee David Flanagan, who’s experience in exploration and developing mines are expected to greatly enhance the company’s capabilities. All this action is at a time when the company appears to be on the cusp of unlocking the value of its dominant position in the East Lachlan. Any discoveries in a region that hosts a number of world class mining operations highlight its potential and those surrounding Magmatics ground emphasise the potential for new Tier 1 copper and gold discoveries in this underexplored region.
EMAIL email@example.com WEB www.magmaticresources.com DIRECTORS David Richardson, Peter Duerden, David Berrie, David Flanagan
Ardiden Limited (ASX: ADV)
ardiden has declared its main focus to be progressively building gold resources at the company’s 100 per cent-owned Pickle Lake gold project in Ontario, Canada. In September 2019, Ardiden announced a maiden Inferred high-grade 790,000 tonnes at 4.3 grams per tonne gold for 110,000 ounces of gold Resource for the Kasagiminnis gold deposit. The Kasagiminnis deposit represents only a small section (600m) of a potential 20 kilometres strike length at the Pickle Lake gold project. Subject to necessary approvals, Ardiden plans to recommence drilling at Kasagiminnis in winter 2019/20 to extend this resource. In November 2019, Ardiden finalised interpretation of an airborne geophysical survey at the West Pickle prospect. The West Pickle gold prospect includes more than 5km of prospective geological setting directly along strike to the nearby Central Patricia underground mine, which produced more than 600,000 ounces of gold at 12.5g/t gold. The survey identified several priority targets for gold mineralisation, which may have been a bit surprising for previous owners who gave the deposit very little historical exploration attention, despite its location directly along strike of the high-grade Central Patricia and Pickle Crow gold mining centres. The geophysical survey undertaken by Ardiden highlighted hidden structural discontinuities and multiple possible conduits for hydrothermal fluids at West Pickle. These included two large and highly conductive geophysical responses detected at West Pickle in proximity to iron formations. This gave the company encouragement as strong conductors are typically associated with pyrrhotite and gold mineralisation along strike at the Central Patricia Mine. The survey also highlighted multiple magnetic lows at West Pickle in prospective Iron Formations that again raised company eyebrows as magnetic lows can indicate that gold-mineralising fluids may have altered the rock. The West Pickle property has been explored by previous owners, however these searches focused mainly on nickel and copper. Ardiden’s recent airborne magnetic and EM survey discovered complex geological structures which will form the base of future gold exploration by the company on the West Pickle property. Concurrent with the West Pickle survey, Ardiden reviewed the historical drilling data available at South Limb gold prospect located immediately south of the Dona Lake underground gold mine that is currently being assessed by TSX-V listed Metals Creek Resources. Ardiden owns eight kilometres of favourable geological formation directly along strike from the Dona Lake mine. From the historical data at South Limb, Ardiden has outlined multiple targets that may provide opportunities for similar deep mineralised gold systems. Drill targets are planned in a fold nose near drill hole 172-007, which reported 7.8g/t gold from 8m.
Drill targets are also planned on the southern iron formation to test known sulphide mineralisation. Ardiden recently expanded its landholding at Pickle Lake by signing an earn-in agreement with Exiro Minerals Corp over that company’s New Patricia gold prospect. New Patricia extends over 30km of prospective geological setting directly along strike from the Golden Patricia gold mine that was previously operated by Barrick Gold. It also adjoins Ardiden’s Dorothy-Dobie gold prospect. By acquiring the New Patricia gold prospect Ardiden will effectively more than double the prospective ground position it controls in the area, taking it from 123 square kilometres to 257sqkm. The earn-in agreement will result in Ardiden forming a contiguous belt of highly-prospective gold claims over a total width of 90km to form a dominant position in the Pickle Lake gold camp. “Our collaboration with Exiro’s well-respected management team has been put together in the true spirit of exploration, where stakeholders are only significantly rewarded through smart exploration work and ultimately, discovery,” Ardiden CEO Rob Longley said. “Exiro has invested significant time and applied expertise in identifying highly prospective segments of the Uchi Geological Subprovince. “The New Patricia package fits perfectly within Ardiden’s existing 100 per cent-owned holding and gold aggregation strategy. “We look forward to a productive collaboration with Exiro in the region for the benefit of our respective shareholders.” During 2019/20, Ardiden aims to build on the Resource at Kasagiminnis with further drilling as well as exploration activities at the West Pickle, South Limb and Dorothy-Dobie prospects planned. Ardiden also wholly-owns the Seymour Lake lithium project in Ontario that has a Mineral Resource Estimate of 4.8 million tonnes at 1.25 per cent lithium oxide and 186ppm tantalum pentoxide., Ardiden has made it known that it is looking for a partner or alliance to draw value from the Seymour Lake project, as well as its other lithium interests in Ontario including the Root Lake and Wisa Lake lithium projects.
EMAIL firstname.lastname@example.org WEB www.ardiden.com.au DIRECTORS Neil Hackett, Dr Michelle Li, Pauline Gately, Rob Longley
Australian Mines (ASX: AUZ)
busy 2019, during which it achieved important milestones across its project portfolio. Ticking these milestones off enabled the company to make serious inroads towards delivering on its goal of becoming a major producer of cobalt sulphate and nickel sulphate chemicals, with a fully auditable supply chain, for the electric vehicle sector. One of these milestones was the signing of an offtake agreement with SK Innovation for the entire cobalt sulphate and nickel sulphate to be produced from the company’s 100 per cent-owned Queensland-based Sconi project. Once it is fully up and running, the project is forecast to be one of the most cost-competitive cobalt-producing nickel operations in the world and is expected to sit in the lowest cost quartile compared to other existing and proposed analogous operations globally. The Sconi project is estimated to produce approx. 1.4 million tonnes of nickel sulphate and 209,000 tonnes of cobalt sulphate over its 30+ year mine life, which is sufficient cobalt and nickel to produce the equivalent of at least three million to six million electric vehicle battery packs. Under the terms of the agreement, SK Innovation has agreed to purchase 100 per cent of the battery-grade cobalt sulphate and nickel sulphate produced from Sconi for an initial seven-year period that may be extended to a total of 13 years by mutual agreement. “At market-linked prices, this is a significant achievement, and a clear demonstration of the confidence in the value of this world-class project,” Australian Mines managing director Benjamin Bell said. “On the back of this agreement, we have deepened our engagement with potential project financiers, both here in Australia and internationally, and are working collaboratively with these parties towards finalising a financing structure that enables us to progress project construction as soon as possible.” Just a short 115 kilometres from the Sconi project are Australian Mines’ 100 per cent-owned Bell Creek nickel-cobalt Minnamoolka nickel projects. When these are combined with the Sconi project’s Mineral Resource, the cobalt and nickel metal quantities of Australian Mines’ Queensland projects are estimated to be 738,359 tonnes of contained nickel and 71,575 tonnes of contained cobalt. Australian Mines has been undertaking beneficiation test work on ore from its Bell Creek project with the objective to confirm whether the company can produce a concentrated feed capable of shipment to, and final processing by, the centralised Sconi processing plant, which would thereby boost the already favourable economics of infrastructure investment proposed for the project. Once the beneficiation test work of the Bell Creek ore completed, a similar program using the Minnamoolka nickel ore is likely to follow. Down south in New South Wales, the company’s 100 per cent-owned Flemington cobalt-nickel-scandium project boasts an initial Mineral Resource of 2.5 million tonnes at 0.103 per cent cobalt and 403ppm scandium in the Measured category; and 0.2
australian mines completed a very
million tonnes at 0.076 per cent cobalt and 408ppm scandium in the Indicated category. Australian Mines is pretty confident the project has the scope to materially expand the current Mineral Resource, given that only a fraction of the prospective geology at Flemington has been comprehensively tested to date. Recent assay results were received from a Resource expansion drilling campaign via a 3,300-metre resource expansion drilling program at Flemington that was designed to test the western continuation of the cobalt, nickel and scandium mineralisation. The results from this drill program confirmed the continuity of a high-grade zone, which is contiguous with, and extends 1,200m west from, existing Flemington Mineral Resource. The results also confirmed the mineralisation at Flemington has tripled in extent when compared to the footprint indicated by the project’s initial Mineral Resource. On the back of the encouraging results, Australian Mines initiated the largest resource extensional drilling program to date at the Flemington project to consist of up to 10,000m of drilling that will specifically target the additional west and southwest extensions of the previously identified mineralisation within the tenement boundaries. Results from this program are anticipated to become available in early 2020. The extended drilling program reflects the company’s confidence in the project as a potential source of battery materials to the rapidly growing global electric vehicle sector. “With the mineralisation remaining open along strike, we have committed to further drilling activity over the coming year, including a 10,000-metre drill campaign across the project area,” Bell said. “Based on the initial results and the possibility of further expansion, I am confident the Flemington project has the potential to host a nationally important cobalt resource.”
EMAIL email@example.com WEB www.australianmines.com.au DIRECTORS Michael Ramsden, Ben Bell, Mick Elias, Dominic Marinelli
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altech chemicals is aiming to become one of the world’s leading suppliers of 99.99 per cent (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500 tonnes per annum high purity alumina (HPA) processing plant at Johor, Malaysia. In October 2019, Altech declared Stage 1 construction works for the plant completed on budget and on schedule with Stage 2 engineering underway. Feedstock for the plant will be sourced from the company’s 100 per cent-owned kaolin deposit at Meckering, Western Australia. HPA is a high-purity form of aluminium oxide (Al2O3) that is a high-value, high margin and very much in demand product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. In the meantime, Altech received an invitation from the state government of Saxony, Germany, asking it to consider constructing a second high-purity alumina (HPA) plant in the state. “As HPA is recognised as a critical component in the lithium-ion battery materials supply chain, an Altech HPA plant in Saxony would be well positioned to support the regions push to create a major electric vehicle battery industry, with a secure materials supply chain,” Altech Chemicals said. “Whilst the company remains focused on the close of funding and the construction of its Malaysian HPA plant, it also recognises the forecast significant deficit of HPA supply commencing in 2020 and the opportunity that this may present in terms of a second HPA plant.”
impact minerals is a well-endowed exploration play with four exploration projects hosting numerous, high-grade targets that have been progressed to active drill testing. All projects are located within Australia (NSW, QLD, WA), which are all constantly ranked high amongst the world’s most stable jurisdictions. Fired up by the discoveries of porphyry copper-gold at Boda-Kaiser (Alkane Resources), immediately along trend from one of Impact’s targets, and Thursday’s Gossan in Victoria (Stavely Minerals), Impact recently reviewed its portfolio of projects in the Lachlan Fold Belt in New South Wales, which reinforced its belief in the tenement’s prospectivity for the discovery of a major porphyry copper gold deposit. As a result, new priority targets for porphyry copper-gold mineralisation were identified within Impact’s 100 per cent-owned Commonwealth project. Preliminary field work undertaken on some priority targets identified areas of copper-gold-silver mineralisation that require follow up soil geochemistry programs and further synthesis and review of previous exploration data. Impact’s focus to date has been on the Commonwealth project but work is also required on the Pine Hill and Day Dawn projects to the south. Impact is also conducting an assessment of the potential for porphyry copper gold mineralisation at depth beneath the Commonwealth massive sulphide deposit where it announced an upgrade to the Inferred Resource of 912,000 tonnes at 2.4 grams per tonne gold, 44g/t silver, 1.2 per cent zinc and 0.5 per cent lead. The company has encountered numerous narrow high-grade intercepts of copper at depth below the massive sulphide body. Impact has interpreted the entire system as having formed by submarine venting of fluids from a porphyry copper gold system at depth.
EMAIL firstname.lastname@example.org WEB www.altechchemicals.com DIRECTORS Luke Atkins, Iggy Tan, Daniel Tenardi, Peter Bailey, Tunku Yaacob Khyra, Uwe Ahrens
EMAIL email@example.com WEB www.impactminerals.com.au DIRECTORS Peter Unsworth, Dr Mike Jones, Paul Ingram, Dr Markus Elsasser
gold exploration and mine development company that is working up the Ulysses and Barimaia gold projects in Western Australia. The Ulysses gold project is located in the Eastern Goldfields while the Barimaia gold project is located in the Murchison District of WA. Genesis has earned an initial 65 per cent interest in the Barimaia project and has elected to form a Joint Venture for the continued development of the project. In November 2019, Genesis released assay results from drilling designed to upgrade the current Ulysses Mineral Resource that currently stands at 7.1 million tonnes at 3.3 grams per tonne gold for 760,400 ounces. High-grade gold intersections from the drilling included: »» 19USRC392 6 metres at 9.28g/t gold from 121m, including 3m at 14.36g/t gold; and »» 19USRC402 12m at 6.39g/t gold from 210m, including 3m at 18.37g/t gold. At the time of writing the company was anticipating releasing an updated Resource by the end of the year. “The resource upgrade program is…on track to be completed by the end of November,” Genesis Minerals managing director Michael Fowler said. “We are continuing to see very good widths and grades in the upper 200 metres of the Resource, confirming the continuity, robustness and tenor of the mineralisation within the high-grade shoots. “We expect to deliver an updated Resource before the end of the year which will provide the foundation for ongoing mining studies. “Our drilling continues to demonstrate that we have a very robust and high-grade asset at Ulysses with all of the attributes, including a Tier-1 location, that will help us to advance it towards development.”
southern gold owns 100 per cent of a substantial portfolio of highgrade gold projects in South Korea. The projects are largely greenfield epithermal gold-silver targets located in the south-west of the country. Southern Gold’s stated aim is to find world-class epithermal gold-silver deposits in a jurisdiction that has seen very little modern exploration. The company is also looking to commission a small scale mine in South Korea with the assistance of its development partner Londonlisted Bluebird Merchant Ventures (BMV) at either the Kochang or Gubong projects where the company retains a 50 per cent equity interest. Toward the end of 2019, Southern Gold received word from Bluebird that the Permit to Develop for the Gubong gold mine had been confirmed. The mine had previously gained approval by the Ministry of Trade, Industry and Energy (MOTIE), but has now also been given the green light by the Cheongyang Provincial Government. Mine development in South Korea is formally approved through a process run by the provincial government. The approval is an important milestone in the project development approval process and remains subject to several conditions. Bluebird’s next task is to present the approval document to the local County government for approval prior to initiating any site works. However, the approval is now in hand and next stage of development works can begin, subject to presentation of these activities to local community members. At the Kochang project, the Permit to Develop is still in process, pending review of supplementary documents. BMV continues as operator of the JV with upcoming activities at Kochang involving establishing proper operable entrances to both mines, expand working areas and laydown sites and construct/source minimal infrastructure.
genesis minerals is an australian
EMAIL firstname.lastname@example.org WEB www.genesisminerals.com.au DIRECTORS Tommy McKeith, Michael Fowler, Craig Bradshaw, Gerry Kaczmarek, Nic Earner
EMAIL email@example.com WEB www.southerngold.com.au DIRECTORS Greg Boulton, Simon Mitchell, David Turvey, Peter Bamford, Beejay Kim
of the exploration sector in 2019 when it made its shallow high-grade copper-gold discovery at the Thursday’s Gossan prospect, part of the company’s 100 per centowned Stavely copper-gold project in Victoria. The market reacted accordingly when Stavely released details of the discovery diamond hole SMD050 announcing an intersection of: »» 32 metres at 5.88 per cent copper, 1 gram per tonne gold and 58g/t silver from 62m down-hole, including 12m at 14.3 per cent copper, 2.26g/t gold and 145g/t silver, including 2m at 40 per cent copper, 3g/t gold and 517g/t silver; and »» 4.4m at 3.98 per cent nickel and 0.23 per cent cobalt from 96.7m drill depth. “It’s not often in the career of an explorer that you see 40 per cent copper grades over sub-metre intervals, let alone over two metres — and those stunning copper numbers are accompanied by very significant gold and silver values as well,” Stavely Minerals managing director Chris Cairns said at the time. Throughout the year, the company continued to prove this first hole was no fluke with results released in November from further drilling at Thursday’s Gossan in holes SMD054, SMD056 and SMD058, together with indications from ongoing drilling, confirming and extending the shallow high-grade copper-gold discovery at the prospect. Refusing to rest on its laurels, Stavely expanded its high-grade gold exploration portfolio on the Eastern Seaboard of Australia with a series of strategic and complementary acquisitions in Tasmania and Victoria. The company inked deals to acquire the historical high-grade producing Lefroy Goldfield to expand its existing Mathinna gold project in north-east of Tasmania and acquire a highly strategic Exploration Licence in central Victoria.
mincor resources (asx: mcr) is a nickel sulphide development company, focused on re-establishing sustainable high-grade nickel production in the Kambalda district of Western Australia. Mincor has over 300 square kilometres in the Kambalda region, where it hosts a high-quality nickel sulphide Resource and Reserve inventory and development ready assets that are well placed to capitalise on the strong long-term nickel market outlook. Late in 2019, Mincor released a substantial increase in the Mineral Resource for the Cassini nickel sulphide deposit at Kambalda, in the shape of a 33 per cent increase in contained nickel to 50,400 tonnes. The updated Indicated and Inferred Mineral Resource increased the average grade of the Mineral Resource from 3.8 per cent nickel to 4 per cent nickel and confirmed Cassini as one of the largest and highestgrade nickel deposits in the Kambalda district. As a result, over 86 per cent of the expanded Mineral Resource is classified in the higher-confidence Indicated category, and is available for conversion to Ore Reserves. “From a Maiden Mineral Resource of 18,700 nickel tonnes in August last year (2018), Cassini has grown quickly into a substantial asset for our shareholders, one of the cornerstone deposits of our plan to restart nickel production at Kambalda and the most significant greenfields discovery seen in the district in over two decades,” Mincor Resources managing director David Southam said. Following the completion of the updated Cassini Mineral Resource, the total nickel Mineral Resources across Mincor’s Kambalda tenements stands at 4.9 million tonnes at 3.8 per cent nickel for 187,900 nickel tonnes. The Cassini Mineral Resource stands at 1.254 million tonnes at 4 per cent nickel for 50,400 nickel tonnes.
stavely minerals became the envy
EMAIL firstname.lastname@example.org WEB www.stavely.com.au DIRECTORS Chris Cairns, Jennifer Murphy, Peter Ironside, Amanda Sparks
EMAIL email@example.com WEB www.mincor.com.au DIRECTORS Brett Lambert, David Southam, Michel Bohm, Liza Carpene
western areas main asset is the 100 per cent-owned Forrestania nickel project located 400 kilometres east of Perth in Western Australia. The value of the Forrestania operation was highlighted by results from the September 2019 quarter that produced 5.259 million tonnes of nickel in concentrate, generating nickel sales of 5,051 nickel tonnes in concentrate and an underlying strong free cashflow of $21.6 million. Western Areas is also Australia’s second largest independent sulphide nickel miner, producing approximately 22,000 to 25,000 nickel tonnes in ore per annum from its Flying Fox and Spotted Quoll mines — two of the lowest cost and highest-grade nickel operations in the world. The company’s key growth project is the Odysseus mine located at the Cosmos nickel operation that boasts a long, ten-year mine life and low operating cost. Western Areas believes the Odysseus mine will underpin the company’s nickel production well into the future. The construction program for the Odysseus mine is progressing well and remains, at time of writing, on schedule. Work continued with mining studies for the AM5/6 deposits at Odysseus, with the potential to mine these deposits providing both upside and optionality within the mining production sequences of the Odysseus mine. The nickel price has reacted strongly to tightening supply thanks to the Indonesian government’s ban on exportation of nickel laterite and the continued drawdown of LME stockpile material closing the September 2019 quarter at a spot price of US$7.80 per pound. Western Areas commenced offtake discussions with various market participants regarding offtake agreements for 2020. The company anticipates the continued strengthening in the nickel market and initial indications will provide more favourable terms for the negotiation of these offtake negotiations.
alloy resources’ main project is
EMAIL firstname.lastname@example.org WEB www.westernareas.com.au DIRECTORS Ian Macliver, Dan Lougher, Rick Yeates, Craig Readhead, Tim Netscher, Natalia Streltsova
the company’s Horse Well gold project Joint Venture with Silver Lake Resources (ASX: SLR) in the north-eastern Goldfields of Western Australia. The company has a 60 per cent interest in the project and is sole funding exploration activities to earn additional equity in the JV. The total Horse Well JV Resource currently stands at just over a quarter of a million ounces at 257,000 ounces. The total results from the combination of two main target areas. The Palomino deposit that has a shallow Inferred Mineral Resource over a 400-metre strike and to a depth of 260 metres of: »» 930,400 tonnes at 2.3 grams per tonne gold for 68,300 ounces of gold; and The Filly SW deposit that hots an Inferred Mineral Resource that has been defined over a 600-metre strike and to a depth of about 170 metres of: »» 302,400 tonnes at 1.8g/t gold for 17,200 ounces of gold. Alloy has also entered into a Farm-In and Joint Venture Agreement with Rio Tinto subsidiary, Rio Tinto Exploration (RTX), under which RTX can explore and earn a majority interest in Alloy’s 423 square kilometre Exploration Licence EL 45/4807 located in the Paterson region of Western Australia. RTX is completing its initial earn-in commitment to earn a 70 per cent interest in the Tenement by spending $500,000 and completing at least 500 metres of drilling, within three years. E45/4807 contains similar geology to the Newcrest’s 32 millionounce Telfer gold deposit and is located only 25 kilometres to the north-west of Telfer and 50km south-east of Rio Tinto’s recent Winu copper-gold discovery. Very limited historical exploration has been completed within the project area.
EMAIL email@example.com WEB www.alloyres.com DIRECTORS Andy Viner, Kevin Hart, Gary Powell
NTM Gold (ASX: NTM) ntm gold is focused on the Leonora region, in the heart of Western Australia’s Eastern Goldfields. NTM owns 100 per cent of the Redcliffe gold project, a plus-300 square kilometres tenement covering the Mertondale Shear Zone over some 40km length that hosts the developing project with established resources close to existing infrastructure and mines. The company has a Mineral Resource Estimate for the Redcliffe project of 12.53 million tonnes at 1.34 gra,s per tonne gold for 537,862 ounces of gold consisting of estimates in both the Indicated (1.75 million tonnes at 2.23g/t) and Inferred (10.77 million tonnes at 1.19g/t) categories. The resource estimate comprises a number of separate deposits, most of which remain open. A round of RC drilling at the Hub prospect to test northern and southern extensions as well as shallow grade continuity returned excellent grades close to surface. »» Better results from the initial five-metre composite samples include: »» 15 metres at 8.5 grams per tonne gold from 25m; 25m at 5.4g/t gold from 20m, including 5m at 20.3g/t gold; 15m at 4.9g/t gold from 20m, including 10m at 6.6g/t gold; and 10m at 4.1g/t gold from 25m, including 5m at 6.8g/t gold. Two holes testing deeper grade continuity returned positive results from initial five-metre composites, including: 10m at 4.5g/t gold from 135m; and 10m at 2.6g/t gold from 105m. “These shallow RC results highlight the substantial value of Hub with exceptional grades close to surface,” NTM Gold managing director Andrew Muir said. “Hub has continued to grow with each program and we are optimistic this continues with the current program.” Diamond drilling is testing for deeper extensions to the gold mineralisation and to provide geological information.
EMAIL firstname.lastname@example.org WEB www.ntmgold.com.au DIRECTORS Eduard Eshuys, Andrew Muir, Rodney Foster, Edward van Heemst
Nusantara Resources (ASX: NUS) developing and operating gold projects within the Asia-Pacific region. Nusantara owns a 100 per cent interest in the Awak Mas gold project, located in the Luwu Regency of South Sulawesi Province, Indonesia. The project hosts an open pit Indicated and Inferred Resource of 45.3 million tonnes at 1.4 grams per tonne gold for 2 million ounces (May 2018) and an updated Ore Reserve of 1.1 million ounces (September 2018). Recent development work at Awak Mas involved systematic drill testing of the north-eastern extension of the current open pit beyond the current USD1,250 per ounce reserve and USD1,400 per ounce resource shells. This drilling confirmed the mineralisation remains open with the company encountering one of the best gold intersections on the project. Diamond drill hole HWD006 intersected several zones of mineralisation, the best combined intercept being: »» 63.7 metres at 2.12g/t gold from 201.1m down hole (mdh). HWD006 followed a 2018 drilling program 2018 that tested beyond the proposed Awak Mas open pit eastern limits. The results from this drilling demonstrated: »» The project has potential to add resources by defining extensions outside the current resource shell; »» A positive factor exists in reviewing reserves along with a favourable gold price whereby the Awak Mas Pit reserve is 24.1 million tonnes at 1.28g/t containing 0.99 million ounces based on a USD1,250 per ounce gold price and the resource is 39.5 million tonnes at 1.4g/t containing 1.72 million ounces based on a USD1,400 per ounce gold price optimised shell1; and »» The result lends weight to the hypothesis of the existence of a 0.8-kilometre mineralised corridor between the Awak Mas Pit and the Salu Bulo Pit.
nusantara resources is focussed on
EMAIL email@example.com WEB www.nusantararesources.com DIRECTORS Greg Foulis, Neil Whitaker, Rob Hogarth, Robin Widdup, Richard Ness
Gold Road Resources
its roots in late 2019 by announcing the first 100 per cent company-owned resource addition since it entered the Gruyere Joint Venture. The company announced a Mineral Resource of 3.5 million tonnes at 2.62 grams per tonne gold for 297,600 ounces that was estimated at the Gilmour and Renegade deposits, both 100 per cent-owned by Gold Road. The Gilmour Maiden Mineral Resource totals 2.6 million tonnes at 3.09g/t gold for 258,400 ounces, with 0.8 million tonnes at 5.2g/t gold for 120,000 ounces, or 46 per cent of contained ounces, classified as an Indicated Resource. This makes Gilmour the third largest and second highest grade deposit so far discovered on the Yamarna Belt. The Gilmour Maiden Mineral Resource is located 55 kilometres, by road, south of the Gruyere Mine, which means the open pit and underground Mineral Resources could be developed by Gold Road and processed at Gruyere via toll treatment provisions under the Gruyere JV agreement. The Gruyere development option provides a pathway to monetise the discovery and realise value from Gold Road’s exploration program. The Renegade deposit, previously reported as Khan North, was re-estimated as an Inferred Mineral Resource of 0.9 million tonnes at 1.3g/t gold for 39,200 ounces. The new resource estimate followed detailed geological interpretation and optimisation for open pit extraction, applying appropriate modifying factors and a gold price assumption of $1,850 per ounce. Renegade is located just 35 kilometres by road from the Gruyere Mill, and is adjacent to the Gruyere Main Access Road. Like Gilmour, Renegade could also potentially add value to Gold Road through toll treatment in accordance with the terms of the Gruyere JV agreement.
in 2019, independence group implemented parallel workstreams to maximise value from the high-quality nickel and copper concentrates produced at the company’s Nova Operation in Western Australia. This includes the completion of a highly competitive concentrate tendering process and conclusion of a Downstream Nickel Sulphate Pre-Feasibility Study. The need to replace existing nickel concentrate contracts with Glencore International AG and BHP, and a copper concentrate contract with Trafigura that were reaching their end resulted in new deals of much more favourably improved terms. A binding concentrate offtake agreement for a three-year term was executed with Trafigura for 50 per cent of nickel concentrate and for 100 per cent of copper concentrate produced from Nova, along with an offtake term sheet with BHP for an additional 50 per cent of the nickel volume for a period of five years. The second workstream involved IGO identifying the potential value of downstream processing. Scoping and proof-of-concept studies led to a pre-feasibility study on the technical and financial merits of converting nickel sulphide concentrate from Nova into high quality nickel sulphate via its trademarked The IGO Process. “The work we have completed as part of the nickel sulphate downstream prefeasibility study has demonstrated that IGO has developed an innovative processing technology to more efficiently produce nickel sulphate for the clean energy and the electric vehicle battery market at a lower cost and in an environmentally sustainable manner,” IGO managing director Peter Bradford said. “We remain committed to our strategy to focus on metals critical to clean energy. “We will continue to explore partnering opportunities, leveraging the technology we have developed on downstream processing to create additional value for shareholders.”
gold road resources returned to
EMAIL firstname.lastname@example.org WEB www.goldroad.com.au DIRECTORS Tim Netscher, Duncan Gibbs, Justin Osborne, Sharon Warburton, Brian Levet
EMAIL email@example.com WEB www.igo.com.au DIRECTORS Peter Bilbe, Peter Bradford, Debra Bakker, Kathleen Bozanic, Peter Buck, Keith Spence, Neil Warburton
2019 on a high note by increasing the West Musgrave Joint Venture Project (WMP) tenement package in Western Australia. Cassini, via subsidiary Wirraway Metals and Mining, acquired the exclusive rights to all of Traka Resources’ (ASX: TKL) West Musgrave tenement package. The company’s JV partner, OZ Minerals (ASX: OZL) agreed to include the acquisition tenements into the WMP and will reimburse all Wirraway expenses and acquisition costs. The package includes two granted exploration licences located adjacent to the WMP’s Succoth deposit. An additional three exploration licence applications are considered prospective for magmatic nickel and copper sulphide mineralisation similar to the Nebo-Babel and Succoth deposits. The JV partners are in the final stages of a Pre-Feasibility Study (PFS) on the Nebo-Babel deposits in conjunction with a regional exploration program across the WMP. Recent results from drilling undertaken at Succoth support a folded geometry model the company reported in February 2019. The company declared the latest geometry, if extrapolated across the currently defined strike extent of the deposit, has implications for the scale of the resource, resource extensions, potential mining strip ratio and further economic considerations. Mineralisation remains open laterally, as well as at depth, and between broad-spaced drill holes outside of three main drill sections. An aeromagnetic survey flown over Succoth assisted with geological interpretation and targeting and helped to delineate existing mineralisation. Mineralisation at Succoth remains open along a broad northeast-southwest trending corridor and potentially laterally. Cassini is continuing to evaluate the resource potential of Succoth and the impact it may have on Nebo-Babel development options. Cassini is also progressing its Mt Squires gold project, and the Yarawindah nickel-copper-cobalt project (CZI 80%), both located in Western Australia.
comet resources is the
cassini resources ended
EMAIL firstname.lastname@example.org WEB www.cassiniresources.com.au DIRECTORS Mike Young, Richard Bevan, Dr Jon Hronsky, Phil Warren, Sze Man (Simone) Suen
100 per cent owner of the Springdale graphite project, located approximately 30 kilometres east of Hopetoun in south Western Australia. In December 2018, Comet released a maiden Inferred Resource of 15 million tonnes at 6 per cent Total Graphitic Carbon (TGC), including a high-grade component of 2.6 million tonnes at 17.5 per cent TGC, incorporating the Northern, Eastern and Western Zones. This high-grade component of the Resource is the company’s main focus and where it enjoyed some drilling success towards the end of 2019. At the West Zone, drill hole HD031 confirmed the resource model’s interpreted expectation of continued high-grade graphite in the West Zone of the mineralised area, close to prior high-grade drilling results from 2016 and 2017. Drill hole HD031 intersected: »» 10.9 metres at 10.61 per cent TGC from 25m, including 6m at 17.57 per cent TGC from 26m. This provided Comet increased confidence in its resource model. The company’s increased confidence was given a further boost with drilling on the North Zone resource area intersecting multiple high-grade graphite intersections, including the highest-grade graphite result it had achieved to date of: »» HD024A 3.23m at 51.02 per cent TGC from 35.27m returned from a wider interval of 42.5m at 17.02 per cent TGC from 20m. “While we have already achieved many high-grade intercepts in the Northern Zone at Springdale, we are particularly impressed by the width and grade of the intercepts in hole HD024A, including the highest-grade intercept to date,” Comet Resources managing director Matthew O’Kane said. “Now we’re very focussed on the active metallurgical test work program and look forward to releasing those results as they become available.”
EMAIL email@example.com WEB www.cometres.com.au DIRECTORS Matthew O’Kane, Alex Molyneux, Hamish Halliday, David Prentice
Perseus Mining (ASX: PRU) perseus mining is focused on gold production from two currently producing gold mines in West Africa, Edikan in Ghana and Sissingué in Côte d’Ivoire. The Edikan gold mine is a large-scale, low-grade open-pit operation located on the Ashanti Gold Belt of Ghana, which has a gold endowment of more than 170 million ounces. Perseus first acquired EGM in 2006, developing it to production in 2011, from which it has since produced more than 1.4 million ounces of gold. Remaining Reserves total 1.39 million ounces of gold at a grade of 1.16 grams per tonne. Sissingué (SGM) became Perseus’s second producing gold mine in January 2018. Perseus owns an 86 per cent interest in Perseus Mining Côte d’Ivoire SA (PMCI), owner of SGM. The mine has Proved and Probable Ore Reserves totalling 4.6 million tonnes of ore, at 2.2g/t gold containing 321,000 ounces of gold inclusive of over 477,000 gold ounces of Measured and Indicated Resources, as at 30 June 2019. SGM life of mine gold production totals 357,000 ounces producing at approximately 78,000 ounces per annum over the five-year mine life. Perseus expects its ongoing exploration to add to the current Reserve base. Still in Côte d’Ivoire, Perseus is developing a third mine, the Yaouré gold mine, which it acquired through the acquisition of Amara Mining plc in 2016. First gold is expected from Yaouré in December 2020 and is anticipated to take the company’s annual gold production to over 500,000 ounces per annum once it is in full production in 2021/22. A DFS completed in 2017 demonstrated Yaouré will produce 215,000 ounces per annum at AISC of US$734 per ounce over the first five years of an initial, 8.5 year, mine plan.
EMAIL firstname.lastname@example.org WEB www.perseusmining.com DIRECTORS Sean Harvey, Jeff Quartermaine, Sally-Anne Layman, Dan Lougher, John McGloin, Dr David Ransom
Black Cat Syndicate (ASX: BC8) since its listing in january 2018, Black Cat Syndicate has feverishly conducted exploration and development activities to advance the company’s high-grade Bulong gold project just outside Kalgoorlie in Western Australia. Black Cat has 100 per cent control of around 82 square kilometres of the Bulong Gold Field with approximately 84 per cent of tenements granted hosting numerous targets on Mining Leases. Recent activity has resulted in updated JORC Code-compliant Resources for the Myhree, Boundary and Trump deposits that were assessed for economic potential based on optimised $1,800 per ounce pit shells. An updated JORC Resource of 1.4 million tonnes at 2.7 grams per tonne gold for 119,000 ounces was announced for Myhree in July 2019. An updated JORC Resource of 625,000 tonnes at 2.1g/t gold for 41,000 ounces was announced for Boundary in September 2019, as was an updated JORC Resource of 256,000 tonnes at 2.3g/t gold for 19,000 ounces for the Trump deposit. Mineralisation at all three deposits remains open to the south and at depth with strong potential for further extension. Black Cat considers Myhree, along with the other Resources at Bulong, has a reasonable expectation of being mined. It has reached this conclusion by taking into account the depth, thickness and grades of the deposits and proximity to existing infrastructure such as roads, power, residential workforce, service contractors and regional mills. For these reasons, Black Cat has commenced a Feasibility Study to progress Myhree/Trump to a decision to mine that it expects to have completed in the June 2020 quarter. Including the Queen Margaret deposit, the Bulong gold project currently boasts total Indicated and Inferred Resources of 2,628 tonnes at 2.4g/t gold for 206 ounces of gold.
EMAIL email@example.com WEB www.blackcatsyndicate.com.au DIRECTORS Paul Chapman, Gareth Solly, Les Davis, Alex Hewlett
Matsa Resources bow is the company’s Red October gold mine in the Eastern Goldfields of Western Australia, which it acquired from Saracen Minerals in 2018. Towards the end of 2019, Matsa Resources declared multiple intersections of very high-grade gold from drilling undertaken at the Red October gold project. Matsa Resources completed 11 underground diamond drill holes, for a total of 1,451 metres focussing on extensions in the main mining area (ROSZ North). The gold assays produced from this drilling confirmed the high-grade potential of the Red October gold mine. Gold intercepts for new zones included: »» 2.5 metres at 48.7 grams per tonne gold; and »» 2.55m at 4.89g/t gold. Additional Red October Shear Zone (ROSZ) intercepts included: »» 6m at 2.21g/t gold; and »» 4.4m at 3.3g/t gold. “We can again prove that substantial new mining opportunities remain at the Red October gold project,” Matsa Resources executive chairman Paul Poli said. “The results achieved by this drilling program are extremely exciting for the company. “Our belief continues to be, that substantial gold zones remain undiscovered and abundant opportunities exist to develop a long term, highly rewarding, underground gold mining operation at Red October. “This belief was the core reason we acquired Red October. “We will enthusiastically continue to grow and develop Red October and we expect many more exciting results.” In addition to the current ongoing underground Red October drilling program, Matsa commenced an extensive project-wide exploration program within the company’s Lake Carey gold project, also in the Eastern Goldfields of Western Australia. The Lake Carey program involves 2,650m of diamond drilling, 4,590m of RC drilling, and around 20-line kilometres of Induced polarisation IP surveys.
peel mining closed out
a vital string to the
EMAIL firstname.lastname@example.org WEB www.matsa.com.au
2019 by claiming discovery of a new highgrade zone to the south of the Southern Nights deposit at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales. The new high-grade zone was encountered around 500 metres south of the high-grade Southern Nights Central Zone in an area that had previously been subjected to limited drilling, near the boundary of the existing resource model. Drillholes WTRCDD229 and WTRCDDD238 intercepted healthy zones of very high-grade zinc and lead mineralisation, which the company said were similar to the intercepts returned from the Southern Nights Central Zone from earlier drilling. “The new high-grade intercepts at the southern edge of Southern Nights continue to underline the incredible quality and scale of these mineral systems,” Peel Mining managing director Rob Tyson said. “The latest intercepts are on the edge of the current resource model offering excellent exploration upside. “Most importantly, this mineralisation adds further weight to the future development prospects of the project, highlighting the opportunity to increase the grade and tonnage profile of the deposit.” Peel also received results from several drillholes targeting infill and extensions at the northern end of the Southern Nights Central Zone. Peel Mining carried out drilling at Wagga Tank to test for northsouth extensions to the existing resource, shallower up-dip extensions to the resource, and also to provide infill drilling to improve the confidence of the resource. The company declared the results it has received to date generally confirm the grade and continuity of mineralisation, and the modelled geometry of the deposit. Data is being reviewed in advance of planning additional drilling in this area.
EMAIL email@example.com WEB www.peelmining.com.au DIRECTORS Rob Tyson, Simon Hadfield, Graham Hardie, Jim Simpson
DIRECTORS Paul Poli, Frank Sibbel, Andrew Chapman
Bellevue Gold (ASX: BGL) historic Bellevue gold mine in Western Australia, which previously held the title of being one of Australia’s highest-grade gold mines, producing 800,000 ounces at 15 grams per tonne gold from 1986 to 1997. Bellevue Gold has worked up a JORC code-compliant independent Inferred Resource inventory of 1.8 million ounces at 11.1 grams per tonne gold, allowing it to claim one of the highest-grade undeveloped gold discoveries in the world. The Resource includes the Viago Lode, which hosts a resource inventory of 700,000 ounces of contained gold at 16.1g/t. The current resource inventory is presently being expanded with further exploration and step out drilling ongoing at the property. Recent drilling has targeted exploration step out at the new Deacon & Mavis discoveries and to infill areas to upgrade the resource category at the other target areas which form the current resource. High-grade gold drill results were achieved from diamond core from infill drilling at the Tribune and Viago Lodes. Shallow infill drilling the company completed at Tribune Lode in the top 200 metres from surface consistently intersected the Lode as expected with numerous high-grade gold results reinforcing the current inferred resource model. A large portion of the current Tribune Lode inferred resource has been infilled to 40m by 20m spacing, aimed at increasing the confidence level of the resource to be updated in 2020. “Around 35 per cent of the infill drill program has now been completed and we anticipate making significant progress by the end of Quarter one 2020,” Bellevue Gold managing director Steve Parsons said. “Infill drill results continue to demonstrate the quality and high-grade of the Bellevue mineralised gold system.”
bellevue gold is refurbishing the
EMAIL firstname.lastname@example.org WEB www.bellevuegold.com.au DIRECTORS Kevin Tomlinson, Steve Parsons, Michael Naylor
Alliance Resources (ASX: AGS) alliance resources’ main focus is
the company’s 100 per cent-owned Wilcherry project, located within the southern part of the Gawler Craton, approximately 45 kilometres north of the township of Kimba in South Australia. In November 2019 the company commenced a drilling program 57 RC holes to support the estimation of a Measured Resource as part of the revised mineral resource planned in early 2020. The maiden Mineral Resource estimate for the Weednanna gold deposit, part of the Wilcherry project, is 1.097 million tonnes at 5.1 grams per tonne gold for 181,000 ounces gold (classified 49% Indicated and 51% Inferred). The company had an independent scoping study carried out on the Weednanna deposit that supported construction of a new, 250,000 tonnes per annum gold plant at the prospect. Total capital cost was determined at approximately $44 million, including an open pit pre-strip of approximately $8 million. Alliance considers there to be plenty of potential to increase the size of this Mineral Resource with further drilling. On the corporate front, Alliance announced the appointment of Kevin Malaxos as managing director to replace Stephen Johnston. “We are excited to announce the appointment of Kevin Malaxos as the new MD of Alliance,” Alliance Resources chairman Ian Gandel said. A mining engineer resident in South Australia with over 30 years’ experience in the mining industry, Alliance consider Malaxos the ideal replacement for Johnston who will remain on the Board as a non-executive director. “I am very much looking forward to joining the Alliance team, Malaxos said. “They have some promising projects for which I believe I can add much value and I am relishing the opportunity to bring Weednanna to development and production.”
EMAIL email@example.com WEB www.allianceresources.com.au DIRECTORS Ian Gandel, Tony Lethlean, Steve Johnston, Kevin Malaxos
2019 by reporting RC drilling results from inside the planned Klondyke pit at the company’s 1.25 million-ounce Warrawoona gold project in Western Australia. The results provided additional support of the strong grade continuity of gold mineralisation along-strike and down-dip of the planned Klondyke pit. RC drilling inside the planned Klondyke pit was designed to upgrade the Resource from Indicated to Measured status and will form part of a Definitive Feasibility Study (DFS) that is currently underway. The recent activity returned more encouraging intersections, including: »» 19KLRC288 15 metres at 3.7 grams per tonne gold from 30m; »» 19KLRC284 12m at 3.93g/t gold from 19m; »» 19KLRC306 11m at 3.41g/t gold from surface; and »» 19KLRC283 12m at 3.05g/t gold from 43m. “With all results now received for the upgrade to a Measured Resource, we have ticked another box in the de-risking and advancement of the Warrawoona gold project,” Calidus Resources managing director Dave Reeves said. “We will now commence a review of the open pit resource model, including further optimisation. “This will form the basis of the open pit resource upgrade targeting the March quarter of next year. “In addition, we have received results of drilling to the east of the proposed Klondyke pit, where we have intersected some high priority areas for follow up infill drilling.” A diamond rig drilling metallurgical and geotechnical holes for the DFS, finalised all programmed drilling for Calidus’ 2019 field season. Calidus concluded the year with a geophysical drillhole density logging program along with the acquisition of detailed airborne magnetic, radiometric and digital terrain data across the tenement package. At time of writing, Calidus had begun updating of the open pit geological model.
prodigy gold boasts a portfolio of unique greenfields and brownfields exploration projects located in the proven multimillion-ounce Tanami Gold district of the Northern Territory. The company’s 100 per cent-owned assignments include the Bluebush and Hyperion projects targeting deposits analogous to the 14.2 million-ounce Callie gold mine, while it has several Joint Venture operations on the go with luminary companies, including Newcrest, Newmont and Independence Group. On its wholly-owned projects, Prodigy is using broad spaced RAB and aircore drilling to screen for the alteration and geochemical footprints associated with large scale deposits. Drilling is prioritised on targets with the same rocks as the known gold deposits, occurring in similar structural settings and has defined broad scale anomalism at the Capstan project, located within Bluebush, including RC drill results of up to 4 metres at 6.1 grams per tonne gold. The Hyperion project is an area that historically received sporadic shallow drilling that often ended in a depleted oxide zone, which meant testing of the area was ineffective. However, the Hyperion gold camp does contain an Indicated and Inferred Resource of 4.93 million tonnes at 1.95g/t gold for 310,000 ounces of gold. Prodigy’s broader exploration strategy includes focusing on growing the existing resource base at Hyperion and progressing the discovery of new standalone projects. “I am pleased with the level of progress achieved during the quarter, particularly at our 100 per cent-owned Bluebush project with drilling identifying multiple gold anomalies which are now subject to follow-up testing,” Prodigy Gold managing director Matt Briggs said. “We continue to work closely with our JV partners including Newcrest, Newmont and Independence Group to advance exploration across our JV tenements and with a number of programs currently underway.”
calidus resources finished
EMAIL firstname.lastname@example.org WEB www.calidus.com.au
EMAIL email@example.com WEB www.prodigygold.com.au DIRECTORS Tommy McKeith, Matt Briggs, Brett Smith, Mike Stirzaker
DIRECTORS Mark Connelly, Keith Coughlan, Dave Reeves, Adam Miethke
5 ended 2019 with a busy December as it commenced a program of exploration and resource drilling to test a series of priority gold targets located within an economic trucking radius of the company’s Darlot gold mine in Western Australia. This followed the company entering an Option and Sub-lease Agreement for the right to acquire a sub-lease over 13 blocks of Exploration Licence E37/1220. The acquisition area totals 38.7 square kilometres and includes the Cables and Mission gold deposits, which were last reported by Leopard Resources in 2014 to contain total combined JORC 2004 Inferred Resources of 185,000 ounces. The exploration program aimed to test gold targets located at the Cables and Mission and Great Western gold deposits, as well as the Taranaki Trend, the Ockerburry Project and the Darlot Project tenements. “The new regional surface drilling program at Darlot is an important addition to our already expanded drilling program for FY2020 — which includes a previously announced budget of 120,000 metres of planned drilling across the King of the Hills and Darlot assets,” Red 5 managing director Mark Williams said. “The addition of over 11,000 metres of surface exploration and resource drilling reinforces our commitment to delivering growth through exploration. “These programs have the potential to quickly grow our resource base, make new discoveries and provide us with further targets for future follow-up. “This multi-pronged strategy is consistent with our objective to meaningfully increase the mine life of the Darlot Operation — as part of our overall target of having two long-life, high-quality gold production centres operating in parallel as the cornerstone assets of a multi-asset, mid-tier gold producer.”
neometals is developing opportunities in minerals and advanced materials essential for a sustainable future from three core projects. Lithium-ion Battery Recycling — Neometals has developed a process flowsheet targeting the recovery of greater than 90 per cent of all battery materials contained in production scrap and end-of-life lithium-ion batteries (LIBs) that might otherwise be disposed of in land fill. The process targets the recovery of valuable materials from consumer electronic batteries and nickel-rich EV and stationary storage battery chemistries. The flowsheet is designed to recover cobalt, nickel, lithium, copper, iron, aluminium and manganese into saleable products. Lithium Refinery Project — The aim of the lithium refinery project (LR) is to realise value from the conversion of future spodumene concentrates purchased under the company’s Mt Marion Spodumene Concentrate Offtake Option. The annual Offtake Option provides a fixed volume of concentrate for conversion into battery grade lithium hydroxide (LiOH) and lithium carbonate (LC) for supply to LIB cathode and cell makers. The LR has been designed to produce lithium hydroxide and lithium carbonate in a plant with capacity of approximately 10,000 tonnes per annum lithium hydroxide equivalent. Barrambie Titanium and Vanadium Project (WA) — is one of the world’s highest-grade hard-rock titanium-vanadium deposits, working towards a development decision in mid-2021. The Barrambie project is one of the largest vanadiferoustitanomagnetite (VTM) resources globally (280.1 million tonnes at 9.18 per cent titanium oxide (TiO2) and 0.44 per cent vanadium oxide V2O5), containing the world’s second highest-grade hard rock titanium resource (53.6 million tonnes at 21.17 per cent TiO2 and 0.63 per cent V2O5) and high-grade vanadium resource (64.9 million tonnes at 0.82 per cent V2O5 and 16.9 per cent TiO2) subsets based on Neometals 2018 Mineral Resource Estimate.
EMAIL firstname.lastname@example.org WEB www.red5limited.com DIRECTORS Kevin Dundo, Mark Williams, Ian MacPherson, John Colin Loosemore, Steve Tombs
EMAIL email@example.com WEB www.neometals.com.au DIRECTORS Stephen Cole, Christopher Reed, David Reed, Dr Natalia Streltsova, Doug Ritchie, Dr Jennifer Purdie, Leslie Guthrie
of historic data that confirmed thick high-grade massive nickel sulphide mineralisation at the company’s recently-acquired Leinster project in Western Australia. The review involved recalculation of important intersections for all historic drill-holes undertaken at the Horn prospect, several of which demonstrated thick zones of high-grade nickel sulphide mineralisation, including: »» 08BWDD0015 14.66 metres at 2.19 per cent nickel, 0.48 per cent copper and 0.12 per cent cobalt from 132.6m down-hole; »» 08BWDD0039 7m at 2.58 per cent nickel, 0.63 per cent copper and 0.14 per cent cobalt from 158.6m down-hole; and »» 08BWDD0074 10.8m at 2.21 per cent nickel, 0.53 per cent copper and 0.12 per cent cobalt from 143.97m down-hole. Reviewing the modelled mineralisation in long-section at the Horn prospect demonstrated thick high-grade nickel mineralisation occurs at relatively-shallow depths, and remains open along strike and down plunge. Reprocessing of the high-resolution aeromagnetic data from Leinster completed by Southern Geoscience Consultants (SGC) showed a strong correlation between the known nickel sulphide mineralisation and magnetic highs. Auroch commenced interpretation and modelling of the reprocessed data as well as reprocessing and modelling of down-hole electromagnetic (DHEM) data and surface moving-loop EM (MLEM) data at both the Horn and Valdez target areas, in order to confirm the conductivity and location of the modelled EM plates that will be the focus of an RC drilling program to be carried out early in 2020. “The known mineralisation at the Horn provides an excellent base to build on, whilst the strong EM conductor in prospective lithologies at Valdez provides an excellent target for a potential new nickel sulphide discovery in close proximity to existing processing infrastructure,” Auroch Minerals managing director Aidan Platel said.
legend mining closed off 2019 in style by declaring a discovery of massive nickel-copper sulphides at the company’s Rockford project in the Fraser Range in Western Australia. The discovery was made with the third diamond drillhole undertaken at the Mawson prospect (formerly Area D). Drillhole RKDD007 terminated at 363.3 metres, but not before intersecting nickel-copper-cobalt mineralisation associated with a suite of mafic/ultramafic intrusives. The hole was designed to test beneath anomalous nickel-copper geochemistry associated with pyrrhotite-chalcopyrite-pentlandite that Legend had intersected in earlier aircore drillholes and to follow up other encouraging results from a recently completed hole. RKDD007 returned an intersection of: »» 14.9 metres at 1.07 per cent nickel, 0.75 per cent copper, 0.06 per cent cobalt from 114m, including 2.1m at 2.03 per cent nickel, 1.34 per cent copper, 0.11 per cent cobalt from 115.5m. The 14.9m sulphide zone occurs within a larger 70.15m disseminated sulphide halo, which Legend interpreted to suggest the presence of a large mineralised system. The 70.15m disseminated sulphide halo starts at 76m below the surface and is open in all directions. Legend considers the intersection of massive, semi-massive and net-textured nickel-copper sulphides at Mawson important as it represents the first occurrence of such sulphides outside of the western stratigraphic trend, which hosts Nova, Silver Knight and Octagonal. “This discovery hole at Mawson is an outstanding exploration success and a watershed moment for all Legend stakeholders and indeed all of the Fraser Range,” Legend Mining managing director Mark Wilson said. “The 2.1 metre high-grade intercept within a 14.9 metre sulphide zone is within a 70 metre disseminated sulphide halo and has all the hallmarks of a large mineralised system.”
EMAIL firstname.lastname@example.org WEB www.aurochminerals.com
DIRECTORS Michael Atkins, Mark Wilson, Derek Waterfield
auroch minerals completed a review
EMAIL email@example.com WEB www.legendmining.com.au
DIRECTORS Edward Mason, Aiden Platel, Chris Hansen
2019, Gateway Mining doubled the size of its Gidgee gold project in Western Australia by securing an additional 262 square kilometres of prospective tenements. The tenements were acquired via low-cost acquisition agreements, a strategic Joint Venture and new Exploration Licence Applications and followed exploration work Gateway undertook at Gidgee that include a detailed gravity survey, re-processing of airborne magnetic data and drilling. This defined a zone of shallow oxide gold mineralisation over a strike length of at least 400 metres by way of 11,000 metres of RC drilling at the Achilles prospect, within the Gidgee gold project. “Ultimately though we see the Achilles area as part of a major gold system that requires ongoing systematic programs of exploration,” Gateway Mining managing director Peter Langworthy said. “All of the evidence we are accumulating is pointing towards the potential for a very large gold system on these tenements, and we feel that we are now getting a lot closer to pin-pointing its overall dimensions and identifying the areas of significant economic interest.” The new ground includes a range of prospective targets ranging from prospects with similarities to the Montague Granodiorite, to Kanowna Belle and Wallaby-type targets. Gateway intends to conduct systematic exploration programs across the new tenement areas as part of an expanded, multi-pronged exploration push. “We have been building our belief that the Gidgee gold project is located within a major mineralised corridor that really hasn’t been viewed in this way previously,” Langworthy said. “We have now invested in collecting and re-processing key geophysical, geochemical and drilling datasets, which has resulted in identifying areas we think have a lot of potential in the medium to long term.”
rarex is a specialist rare earths company focussed on developing the company’s Cummins Range rare earth project in the East Kimberly region of Western Australia. The Cummins Range deposit is a weathered carbonatite host to an Inferred Resource of 13 million tonnes at 1.13 per cent total rare earth oxides (TREO) for a contained 147 million kilograms of rare earth oxides (REO). The known Resource occupies a small portion of the Cummins Range Intrusive Complex that measures approximately four-square kilometres that offers much potential to expand the known Resource. RareX recently topped up its project portfolio by submitting a tenement application with the Western Australian Department of Mines Industry Regulation and Safety for exploration licence E38/3455. The Weld North project is located north of Laverton in WA and covers a large, circular magnetic anomaly prospective considered by the company to have been caused by a carbonatite intrusive complex similar to those that host the majority of the World’s existing rare earth element production, including the Mt Weld mine owned by Lynas Corporation Limited and RareX’s own Cummins Range project. Weld North is defined by a circular magnetic anomaly target located entirely within the exploration license application E38/3455 just 84 kilometres directly north of Lynas’ Mt Weld carbonatite-hosted rare earth element deposit. Once the tenements are granted, RareX intends undertaking reconnaissance mapping work followed by ground disturbing exploration, hopefully in early to mid-2020. The company will maintain its focus on progressing the Cummins Range REE project towards production, with a maiden drill program expected to commence in early 2020 to help explore target areas, better define the geometry of mineralisation and to expand the existing resource.
towards the end of
EMAIL firstname.lastname@example.org WEB www.gatewaymining.com.au DIRECTORS Trent Franklin, Peter Langworthy, Debbie Fullarton, Scott Brown, Mark Cossom
EMAIL email@example.com WEB www.rarex.com.au DIRECTORS Shaun Hardcastle, Jeremy Robinson, Scott Patrizi
PolarX (ASX: PXX) polarx owns the alaska range project, which should not surprise anybody by being located in the US state of Alaska. The Alaska project covers some 261 square kilometres of State Mining Claims and hosts high-grade existing resources and numerous large unexplored advanced targets within an impressive 35-kilometre mineralised belt now that is under the company’s control. In June 2019, PolarX entered into a strategic partnership with Lundin Mining Corporation over the Stellar project, under which Lundin Mining invested $4.3 million in PolarX to secure the right to enter a staged earn-in Joint Venture. If exercised, Lundin Mining can acquire a 51 per cent interest in Stellar by staged exploration spending of US$24 million and staged cash payments to PolarX of US$20 million within three years. The Mars and Saturn porphyry targets occur in the Stellar project. Mars occurs at the western end of a 12km-long mineralised corridor, which also hosts the high-grade Zackly copper-gold skarn and, at the eastern end, the Saturn porphyry target. PolarX completed a preliminary program of core drilling to evaluate Saturn and Mars in August and September. Assay results from the first diamond drill hole at the Mars prospect confirmed the discovery of porphyry-style copper-gold-molybdenum mineralisation. The hole ended in mineralisation and PolarX has more drilling planned to determine the extent of the mineralisation and to locate the potentially higher‐-grade core of the system. “When coupled with the size and nature of the surface geochemical and geophysical anomalies, the assays confirm our view that a very large mineralised system may be present,” PolarX managing director Frazer Tabeart said. “These results also confirm that the entire 12-kilometre length of the Mars-Zackly-Saturn corridor is prospective for porphyry style mineralisation.”
EMAIL firstname.lastname@example.org WEB www.polarx.com.au DIRECTORS Mark Bojanjac, Frazer Tabeart, Robert Boaz, Jason Berton
Ramelius Resources (ASX: RMS) ramelius resources owns and operates the Mt Magnet, Edna May and Vivien gold mines, all in Western Australia. Ore from the high-grade Vivien underground mine, located near Leinster, is trucked to the Mt Magnet processing plant where it is blended with ore from both underground and open pit sources. The Edna May operation is processing high-grade underground ore and low-grade stockpiles. Additional ore feed is planned from the adjacent Greenfinch open pit and satellite Marda and Tampia open pit projects. Ramelius recently increased the Eridanus Mineral Resource, located in the Cosmos Mining Area at Mt Magnet. The increase took the Resource beyond the previously reported 150,000 ounces Indicated and Inferred Mineral Resource and represents a 226 per cent increase in ounces, with the option of a large Stage 2 open pit being assessed. Drilling was undertaken both within the operating open pit and from beyond the pit crest to test the deeper potential of the mineralised granodiorite. “The significant increase to the Eridanus resource is the result of over twelve months of drilling by the exploration team, working in tandem with the operations team, at Mt Magnet,” Ramelius Resources managing director Mark Zeptner said “This work appears to have unearthed the third major endowment area at Mt Magnet, after Hill 50 (2.1Moz) and Morning Star (1.2Moz) and is a testament to the ongoing potential of the camp. “Mine planning is underway to assess a much larger open pit than the recently commenced version, that being a 130 metres deep Stage 1 pit based on a 110,000-ounce ore reserve, which would provide longer term base-load feed to the Mt Magnet processing facility and also increase overall mine life.”
EMAIL email@example.com WEB www.rameliusresources.com.au DIRECTORS Kevin Lines, Mark Zeptner, Michael Bohm, David Southam, Natalia Streltsova
Corazon Mining (ASX: CZN) 2019 on a high note after receiving preliminary results from three drill holes completed at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide Mining Centre in Canada. All three returned positive results, intersecting strong sulphide mineralisation, including a broad zone of more than 35 metres of strong sulphide mineralisation (between 7m to 42m downhole) in hole #7. The three completed holes (holes 5, 6, 7) targeted areas around the A Orebody that had previously been covered by infrastructure from the A-Shaft and processing plant area within the historical Lynn Lake Mining Centre. Corazon’s current drilling focus is on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the project’s already large resource base. Hole #5 intersected at least five metres of good sulphide mineralisation, before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope. Hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits. Hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole. Corazon’s recent mining studies at Lynn Lake have mainly centred on nickel deposits at depths of more than 400m below surface, which has highlighted potential to define additional resources closer to surface adjacent to Lynn Lake’s historically mined areas. In addition to testing the historical mining areas, Corazon has also defined several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits within the Lynn Lake Mining Centre, which the company considers to represent further resource upside potential.
corazon mining ended
EMAIL firstname.lastname@example.org WEB www.corazon.com.au DIRECTORS Terry Streeter, Brett Smith, Jonathan Downes, Dr. Mark Yumin Qiu
Golden Rim Resources (ASX: GMR) golden rim resources is focused on the discovery and development of gold projects in West Africa. Its attention is mainly focused on the Kouri gold project, located in north-east Burkina Faso that contains over 1.4 million ounces in defined Mineral Resources, with upside potential to grow. Kouri is traversed by a fault splay that is connected to the major Markoye Fault system, which controls a number of major gold deposits in Burkina Faso. Golden Rim has been active in the project area since 2013 conducting work that has included geological mapping, rock-chip sampling, ground magnetic and Induced Polarisation (IP) geophysical surveys, auger drilling, RC drilling and diamond drilling. Most recent activity at Kouri has centred around the Diabatou prospect in the form of an extensive ground magnetic and gradient-array IP geophysical survey that identified two new IP chargeability anomalies. The first chargeability-high anomaly associated with the high-grade gold mineralisation at the Diabatou prospect was found to extend for 1.6k metres providing an exciting new target, where the company wasted no time starting follow-up drilling (RC, diamond and auger). Previous RC drill holes within the IP anomaly returned bonanza intersections: 7m at 121.2g/t gold from 41m, including 1m at 783.8g/t gold (hole MRC008). The IP survey then detected a second chargeability-high anomaly associated with high-grade gold mineralisation in the Margou permit at the Diabatou South East prospect. This IP anomaly extends for 1.7km producing rock chip samples up to 21.2g/t gold, 21.1g/t gold, 9.2g/t gold and 5.2g/t gold from outcropping quartz veins. The coincident IP anomaly and zone of gold-bearing quartz veins offer a further exciting new target, for which follow-up RC drilling is planned.
EMAIL email@example.com WEB www.goldenrim.com.au DIRECTORS Glenister Lamont, Craig Mackay, Kathryn Davies
Golden Rim Resources 40
Circulation (RC) drilling program at the company’s Burbanks project, south of Coolgardie in Western Australia in late 2019. Barra Resources conducted the 24 RC drill hole program at Main Lode to follow up drilling carried out in 2017 and 2018 and an inaugural Mineral Resource Estimate for Main Lode of 29,900 ounces at 2.59 grams per tonne gold. The 2019 drilling program was charged with two main objectives: The first was to extend the existing Mineral Resource between the historic Main Lode and Birthday Gift gold mines from its current depth of 100 metres below surface to 200m below surface; and The second was to extend the strike of the Main Lode system by targeting the gap between Main Lode and the Burbanks North deposit and, if successful and continuity can be demonstrated, a continuous 3.5 kilometres of mineralised strike length along the Burbanks Shear Zone. The drilling produced high-grade intersections immediately down-plunge of mining stopes, enhancing the mining opportunity identified by Barra’s recent scoping study. Best results included: »» BBRC299 3m at 24.69 grams per tonne gold from 167m down-hole; »» BBRC303 8m at 4.1g/t gold from 159m down-hole; »» BBRC300 2m at 16.3g/t gold from 173m down-hole; »» BBRC292 3m at 5.38g/t gold from 185m down-hole; and »» BBRC294 4m at 2.58g/t gold from 168m down-hole. “The proximity of these high-grade results to mineralisation identified for mining in our recent scoping study raises their significance and enhances the mining opportunity available at Burbanks,” Barra Resources managing director and CEO Sean Gregory said. “The additional discovery of a new mineralised position below a hitherto unrecognised fault, represents a new exploration focus and obvious drill target going forward.”.
vimy resources flagship project is
barra resources completed a reverse
EMAIL firstname.lastname@example.org WEB www.barraresources.com.au
the Mulga Rock project, which it claims to be one of Australia’s largest undeveloped uranium resources. The company also has a 78 per cent interest (22% Rio Tinto Exploration Pty Limited) and operates the largest granted uranium exploration package in the Alligator River uranium district, located in the Northern Territory. Vimy’s stated objective is the exploration for large high-grade uranium unconformity deposits identical to those found in the Athabasca Basin in Canada. The company has placed itself to benefit from an uplift in the uranium price, which it is confident will occur once the market stars align. Its 2019 field season at the Alligator River project reflected state of the uranium market by limiting drilling activities to keep costs down. However, Vimy was able to successfully conduct geochemistry programs, especially at the Southern Flank prospect, where several extensive anomalies were identified. Vimy had previously recognised this area as prospective for Jabiluka Ranger-style targets and the excellent access and shallow cover will make this area top of the list for drill testing in 2020. Based on regional geology, structural interpretation and radiometrics, Vimy targeted the Southern Flank for termitaria sampling, as it considers it presents a geological setting similar to the Jabiluka and Ranger deposits, 42km to the southwest. Owing to the shallow cover, and thin weathering profile, Vimy identified the prospect as an ideal geological setting for the application of termitaria geochemical sampling as a first-pass exploration technique. Vimy had three new exploration licences at Alligator River granted for an initial period of six years, held 100 per cent by Viva Resources, a wholly-owned subsidiary of Vimy Resources.
EMAIL email@example.com WEB www.vimyresources.com.au DIRECTORS Cheryl Edwardes, Mike Young, David Cornell, Tony Chamberlain
DIRECTORS Sean Gregory, Gary Berrell, Grant Mooney, Jon Young
throughout 2019, antipa minerals advanced an exploration program charged with the objective to aggressively advance multiple exploration and development opportunities across the company’s 100 per centowned North Telfer and Paterson projects, which are in close proximity to Newcrest Mining’s Telfer gold-copper mine, Rio Tinto’s Winu copper-gold-silver discovery and Greatland Gold’s Havieron gold-copper deposit in Western Australia. Much of Antipa’s acivity in the latter part of 2019 focused on the Minyari Dome that forms part of the North Telfer project and includes the Minyari and WACA gold-copper-cobalt deposits, which the company considers to provide immediate exploration and future development opportunities. The current Mineral Resource estimates for both the Minyari and WACA deposits stand at: 11.03 million tonnes at 2 grams per tonne gold, 0.24 per cent copper, 0.7g/t silver and 380ppm cobalt for 723,340 ounces of gold, 26,390 tonnes of copper, 233,290 ounces of silver and 4,060 tonnes cobalt. The Paterson project includes highly prospective areas around the Telfer Dome, including the Chicken Ranch area and Tim’s Dome deposit, the domal structure upon which the Telfer gold-copper-silver open pit and underground mines are situated. Recent additions to the Chicken Ranch area and Tim’s Dome deposit Mineral Resources have boosted Antipa’s 100 per cent-owned resources to 827,000 ounces of gold and combined with a strategy to convert several additional satellite brownfield targets to resource status in the coming year provide further support to the company’s development aspirations. These projects are not part of the Citadel project Farm-in Agreement with Rio Tinto, under which the latter can earn up to a 75 per cent interest by way of funding up to $60 million of exploration expenditure.
EMAIL firstname.lastname@example.org WEB www.antipaminerals.com.au
EMAIL email@example.com WEB www.galanlithium.com.au
DIRECTORS Stephen Power, Roger Mason, Mark Rodda, Peter Buck, Gary Johnson
DIRECTORS Nathan McMahon, Christopher Chalwell, Terry Gardiner, JP Vargas de la Vega, Jinyu (Raymond) Liu, Daniel Jimenez
2019, galan lithium announced a maiden JORC Code 2012-compliant Mineral Resource estimate for the company’s Candelas lithium brine project located in Catamarca province, Argentina. The Indicated mineral Resource estimate for the higher-grade Candelas North zone at the project was estimated at 684,850 tonnes of contained lithium carbonate equivalent (LCE) product at 672 milligrams per litre (mg/l) lithium (at 500mg/l lithium cut off). On releasing the estimate, Galan said that the estimate had exceeded its expectations and a solid basis for an anticipated Pre-Feasibility Study by further validating the high-grade, low impurity nature of the Candelas project. The company signalled its strategy would be to fast-track Candelas towards commercial development. This strategy was bolstered with a subsequent announcement of progress of a drilling program carried out at the company’s Western Basin projects, located on the Hombre Muerto salar, also in Argentina. Galan declared this drilling had confirmed that initial results from the earlier, maiden drilling program at Rana de Sal and Pata Pila by intercepting heavy brine bearing aquifers in both holes completed to date. The Rana de Sal and Pata Pila licences both cover large alluvial fan areas lying adjacent to Livent Corporation’s tenure, covering the western margin of the Hombre Muerto salar. Drilling targeted highly conductive CSAMT (Controlled Source Audio-frequency Magnetotellurics) anomalies that were identified in previously completed surveys. Galan claimed the results from Pata Pila confirmed the high-grade nature by returning samples with lithium grades greater than 900mg/l lithium with low levels of magnesium/lithium. These company considers these high-grade, low impurity results are the key outstanding factors that strengthen its belief that the company’s projects have excellent development potential at Hombre Muerto.
Encounter Resources (ASX: ENR) encounter resources maintained a busy schedule at the company’s projects in the Paterson Province of Western Australia throughout 2019. The company IP and AEM surveys at its 100 per cent-owned Lamil copper-gold project that “highlighted compelling new targets”. The Lamil project covers an area of around 61 square kilometres 25km northwest of the gold-copper mine at Telfer, owned by Newcrest Mining and 40km north of Encounter’s own Yeneena copper-cobalt project, also in the Paterson Province. The geophysical surveys combined to produce an enhanced geological interpretation and structural setting of the project area, highlighting two new drill targets. Target 1 is an untested chargeability anomaly below thick zones of copper-gold anomalism that was subjected to historical drilling by Newmont in the 1980s. Target 2 is a group of untested IP chargeability anomalies discordant to stratigraphy. These chargeability anomalies were identified across the three southern IP lines adjacent to a corridor of magnetic anomalism. Encounter is confident that drilling at Target 2 will determine if the chargeability anomaly represents stronger sulphide development associated with higher grade copper-gold mineralisation. The Lamil project covers an area of around 61 square kilometres northwest of the Telfer mine owned by Newcrest Mining and 40km north of Encounter’s own Yeneena copper-cobalt project. The Yeneena project is an alliance with Independence Group, under which IGO may, at any time before 1 March 2020, elect to enter an earn-in agreement to spend up to $15 million to earn a 70 per cent interest in the project. Encounter and IGO conducted a large scale (approx. 100-line km) magnetotelluric (MT) survey at the Yeneena project that generated a suite of new copper targets at Yeneena.
EMAIL firstname.lastname@example.org WEB www.enrl.com.au DIRECTORS Paul Chapman, Will Robinson, Peter Bewick, Jon Hronsky, Philip Crutchfield
Ausgold (ASX: AUC) after completing a raising of $2.4 million, Ausgold immediately set to work with an exploration drilling program at the company’s 100 per cent-owned Katanning gold project in Western Australia. Ausgold kicked off the program of 20 Reverse Circulation (RC) holes in December within the project’s Central Zone targeting extensions to high-grade gold mineralisation intercepted at the Jinkas South and Jackson areas. High-grade gold mineralisation was intersected at Jinkas South by previous drilling beyond the limits of the current Resource. The Jackson area is located at the north western portion of the Central Zone and has also yielded high-grade intercepts in earlier campaigns. The aim of the drilling is to test new geological concepts with the further aim to extend high-grade mineralisation with the potential to add high-grade ounces to the current the 1.2-million-ounce gold Resource at Katanning. The results of this initial drill program will be used to prioritise targets for a larger drill program planned in 2020. In addition to these near Resource targets, Ausgold is targeting mineralisation in nearby identified areas such as the Burong and Cleggs Bend prospects, which are located within five kilometres of the main Resource. The company considers there to be potential for further gold Resources to be discovered. The drilling came on the back of a Scoping Study that highlighted the potential of the project to support a viable standalone gold mining and processing operation. The Scoping Study was based on a revised Mineral Resource Estimate of 33.9 million tonnes at 1.1 grams per tonne gold for 1.2 million ounces of gold. Preliminary economics indicated financial metrics over an initial mine life of seven years with early capital payback.
EMAIL email@example.com WEB www.ausgoldlimited.com DIRECTORS Richard Lockwood, Matthew Greentree, Denis Rakich, Neil Fearis, Geoffrey Jones
Middle Island Resources (ASX: MDI) chunk of 2019 on its off-market takeover bid for Alto Metals. The proposal eventually lapsed due to MDI’s 50 per cent minimum acceptance condition not being met as of close of the offer period. Despite missing out, Middle Island continues to believe combining its and Alto’s gold assets offers a substantial growth opportunity for a combined entity that would boast low start-up costs and near-term gold production, utilising Middle Island’s existing Sandstone gold processing plant and infrastructure, along with the consolidation of gold resource upside and exploration potential within the combined entity’s tenure. Undeterred, Middle Island bolstered its explorer credentials by applying for 10 exploration licences, covering an aggregate area of 3,912 square kilometres, within the East Tennant region of the Northern Territory. The applications semi-continuously extend for over 350km along the axis of the East Tennant Ridge from Tennant Creek, east across the Barkly Tableland, towards the Queensland border. At the time of writing, six of the applications had been accepted with the additional four applications being part of a competitive process following the lifting of a moratorium over the East Tennant (Barkly) area. These are subject of partially or wholly competing applications made by several companies, including Newcrest Mining, the outcome of which will be judged on the technical merit of respective proposed exploration programs. The 10 tenement applications represent Middle Island’s maiden entry into one of the NT’s historically strongly mineralised copper-gold provinces, positioning the company as a first-mover within the newly identified, iron oxide-copper-gold (IOCG)-prospective, East Tennant area, which extends across the Barkly Tableland. The tenement applications will be collectively known as the Barkly super-project.
middle island resources spent a
EMAIL firstname.lastname@example.org WEB www.middleisland.com.au DIRECTORS Peter Thomas, Rick Yeates, Beau Nicholls, Dennis Wilkins, Brad Marwood
Kopore Metals (ASX: KMT) kopore metals is actively exploring and drilling at the company’s copper-silver projects located on the Kalahari Copper Belt, spanning the Republics of Botswana and Namibia in Africa. Kopore is exploring for stratabound copper-silver deposits across its sixteen 100 per cent-owned prospecting licenses in Botswana and eight prospecting licences in Namibia, that cover a total of 14,813 square kilometres of the Kalahari Copper Belt. Kopore believes the Kalahari Copper Belt can provide the potential for large scale discovery, which has been demonstrated by neighbouring resource development companies. Recent diamond drilling on the Qembo Dome prospect in Namibia confirmed copper-silver mineralisation and identified extensive anomalous copper-silver values around the targeted Qembo Dome geological contact position. The drilling returned assay results of: »» 2.07 metres at 0.5 per cent copper and 65.96 grams per tonne silver at 129.67m to 131.74m downhole. “Consistently finding the footwall contact is our key to finding copper,” Kopore Metals managing director Simon Jackson said. “All known copper deposits in the Kalahari Copper Belt sit close to these contacts. “It is very satisfying that we also hit our first meaningful copper intersection and exciting as well to see high levels of silver.” Kopore is planning to conduct an airborne EM, magnetics and radiometric survey over the Namibian Qembo, Otjari and Ongava Domal prosects and the Botswana Kara Domal prospect. This program is anticipated to commence in Q1 CY2020. The company indicated its next drill holes will be planned using its existing geological database and knowledge, coupled with the results of the airborne EM survey. The priority for the future drilling will be to identify high-grade copper-silver mineralisation and understand the controlling structures in the Otjari/Qembo corridor.
EMAIL email@example.com WEB www.koporemetals.com DIRECTORS Peter Meagher, Simon Jackson, Shannon Coates, Grant Ferguson
Magnetic Resources (ASX: MAU) targets (HN2–6, HN9) at the company’s Hawks Nest prospect, located near Laverton in Western Australia. An RC drilling program completed in 2019, outlined a 200 metres-wide gold zone within the central part of HN9, which remains open to the north and a new SSW-trending zone that Magnetic interpreted to be greater than 800m in length. A new surface-mineralized zone 150m to the west of the main three-kilometre mineralised zone has also been discovered. The drilling undertaken by Magnetic has returned — at the time of writing — some of the high-grade intersections, including: »» MHNRC456 3 metres at 10.99 grams per tonne gold from 16m, including 1m at 31.48g/t gold from 16m; »» MHNRC287 4m at 5.5g/t gold from 4m including 2m at 10.28g/t gold from 6m; »» MHNRC254 3m at 4.84g/t gold from 17m including 1m at 13.38g/t gold from 19m; »» MHNRC416 1m at 11.87g/t gold from 11m; »» MHNRC415 1m at 9.68g/t gold from 14m; and »» MHNRC410 1m at 11.21g/t gold from 7m. Magnetic has determined these shallow higher-grade zones to have enhanced the extensive surface gold zone on the western side as they are located near the surface and near-surface intersections and surface workings that are present in altered porphyry and altered porphyry/ mafic contacts. The company considers the shallow dipping zones at HN9 as a potential indicator for deeper mineralisation. Also, many discoveries in the area have been made by drilling below 100m. At HN9 the average hole depth is only 40m providing plenty of upside potential. The company has noted that the 3km length of its mineralised shear zone is like the length of the nearby Jupiter, Wallaby and Sunrise Dam deposits.
magnetic resources has identified several
Platina Resources (ASX: PGM) full of early-stage metals projects on its books. The company’s main project is the Platina scandium project, located in central New South Wales, which is one of the largest and highestgrade scandium deposits in the world. Platina Resources believes this project has the potential to become Australia’s first scandium producer with cobalt, planum and nickel credits. The domestic portfolio is completed with a 30 per cent interest in the Munni Munni project in the Pilbara region of Western Australia that ranks as one of Australia’s largest Platinum Group Metal occurrences. Munni Munni also has potential for conglomerate hosted gold and is a Joint Venture with Artemis Resources. In Greenland, Platina has the 100 per cent-owned Skaergaard project, which it claims as one of the world’s largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia. Still overseas, this time in California, USA, Platina is earning 70 per cent interest in the Blue Moon project, which boasts zinc-copper rich massive sulphide with gold and silver precious metal credits. A diamond core drilling program is underway at Blue Moon testing main mineralised zones that contain the majority of an existing NI43-101 resource. Once the drill core is assayed and logged, Platina will use it for preparing a JORC code-compliant mineral resource and metallurgical test work, and a Pre-Feasibility Study in the second half of 2020. Plana has identified the Blue Moon project as an exciting new exploration opportunity and has established a goal to build a substantial resource base in what it considers being an attractive commodity suite that includes zinc, copper, gold and silver.
platina resources has a fist
EMAIL firstname.lastname@example.org WEB www.platinaresources.com.au DIRECTORS Brian Moller, Corey Nolan, Dr Chris Hartley
WEB www.magres.com.au DIRECTORS Eric Lim, George Sakalidis, Julien Sanderson
Musgrave Minerals Geopacific (ASX: MGV) Resources drill, drill, drill has been
EMAIL email@example.com WEB www.musgraveminerals.com.au
geopacific resources ended 2019 by starting civil construction work at the company’s 1.6-million-ounce Woodlark gold project in Papua New Guinea. The activity began on the back of a $40 million share placement and $5 million share purchase plan that resulted in the company being funded to commence the first phase of development at Woodlark and move towards a complete project financing solution. Net proceeds from the placement and SPP were earmarked for front end engineering design (FEED), project civil construction, relocation of the Kulumadau village, Woodlark mine camp upgrades, project financing costs and other working capital for project development and expansion activities. The first phase of development is expected to de-risk project execution in preparation for the construction of the process plant and completion of project financing. “The capital raising has provided an excellent result, with shareholders demonstrating their commitment to moving Woodlark into production,” Geopacific Resources managing director Ron Heeks said. “All shareholders, new and existing, clearly understand the tasks and rewards ahead and we are delighted and appreciative of their strong support to begin the process of producing gold.” Geopacific personnel mobilised to site on 1 December 2019 for the commencement of development activities. An existing village located on Kulumadau mining area will be relocated to new areas, selected by the residents, outside the mining lease. The village construction and relocation will be staged, with the smallest village to commence construction and relocation first. “Geopacific has made a commitment to engage as many Woodlark residents as possible for all aspects of the project, including the Kulumadau relocation,” Heeks said. “This is expected to create a skills transfer and sense of community ownership of the new village.”
the mantra for Musgrave Minerals at the company’s Cue project in the Murchison region of Western Australia. An RC drill program at Break of Day extended the high-grade gold mineralisation and identified a new high-grade ‘link-lode’ structure between the two main Twilight and Velvet gold lodes. Drill hole 19MORC037 was drilled to test a new hypothesis and structural interpretation and intercepted 45 metres at 11.8 grams per tonne gold. The result opens numerous possibilities and opportunities for the company to discover additional lodes and grow the Break of Day resource. The company had further RC drilling success at Cue, this time at the Mainland target, where it encountered high-grade gold intercepts. Musgrave has an option agreement to acquire 100 per cent of the basement gold rights at Mainland. Assay results from the Mainland RC drill program returned high-grade gold in adjacent holes at the Consols prospect, where mineralisation remains open at depth and along strike to the west. The Break of Day Mainland areas are excluded from Musgrave’s Earn-in and Exploration Joint Venture with Evolution Mining (ASX: EVN). Recent work under the JV has included a diamond drilling program to test four targets for high-grade basement gold mineralisation below transported cover at Lake Austin North. The targets have been prioritised by structure, geology, geochemistry and alteration with first assays expected in early 2020. The program was funded by Evolution and managed by Musgrave under the JV through which Evolution can earn 75 per cent by spending $18 million in five years. The JV agreement also stipulates that Evolution must spend a minimum of $4 million in the first two years.
DIRECTORS Graham Ascough, Robert Waugh, Kelly Ross, John Percival
EMAIL firstname.lastname@example.org WEB www.geopacific.com.au DIRECTORS Ian Clyne, Ron Heeks, Ian Murray, Colin Gilligan
centaurus metals moved as swiftly as would be expected on a project named after the fastest land mammal. Centaurus picked up the Jaguar nickel sulphide project in Brazil from Vale in August 2019 and commenced drilling on the Onça-Preta and Jaguar South deposits in November. The company had clear objectives in mind, being to extend known high-grade nickel sulphide intersections and to identify new high-grade nickel sulphide zones outside the historical resource limits in order to upgrade the current foreign resource estimate to JORC 2012-compliant status. The first three diamond drill holes of the program all returned thick intersections of high-grade nickel sulphide mineralisation from zones intersected at both the Jaguar South and Onça-Preta. The drilling correlated with historical high-grade intersections and with Down-hole Electromagnetic (DHEM) and Fixed Loop Electromagnetic (FLEM) conductor plates. At the Jaguar South deposit, drill hole JAG-DD-19-002 intersected: »» 40.9 metres at 1.41 per cent nickel, 0.04 per cent copper and 0.03 per cent cobalt from 131.5m, including 6m at 3.19 per cent nickel, 0.08 per cent copper and 0.06 per cent cobalt from 152m, and 4.4m at 2.21 per cent nickel, 0.06 per cent copper and 0.04 per cent cobalt from 161.1m. “These are outstanding results by any measure,” Centaurus Metals managing director Darren Gordon said. “Not only do they demonstrate the high-grade and shallow nature of the nickel mineralisation at Jaguar, but they also confirm the effectiveness of downhole geophysics as a technique for accurately targeting our ongoing drilling to define the semi-massive to massive sulphide zones over the entire project area. “We look forward to…continuous news-flow through the first half of 2020 as we work towards delivering a maiden JORC Mineral Resource.”
alicanto minerals generated a great
EMAIL email@example.com WEB www.centaurus.com.au DIRECTORS Didier Murcia, Darren Gordon, Bruno Scarpelli, Mark Hancock, Chris Banasik
deal of news throughout 2019 from a portfolio of historically producing, high-grade VMS projects it acquired in May that include the Oxberg and Naverberg projects in Bergslagen, Sweden. The company wasted little time identifying a new regional scale hydrothermal mineralised system at the Wolf Mountain prospect, declaring it prospective for copper-gold mineralisation after rock chip results returned up to 11.9 per cent copper across four separate mapped mineralised trends that intermittently outcrop through shallow glacial till cover over one kilometre of strike and are completely open. These high-grade rock chips were previously believed to be part of a wide system of copper stringers feeding VMS deposits in the vicinity. Alicanto concluded the copper stringers to most likely be part of a large-scale hydrothermal system with similar characteristics to the Aitik copper-gold mine in Northern Sweden. Elsewhere, a maiden drilling program on the Lustebo prospect intersected shallow massive sulphides. Results included: »» Drill hole 19-01 2.5 metres at 4.2g/t gold, 43g/t silver, 2.2 per cent copper and 1.7 per cent zinc from 151.5 m, including a massive sulphide zone of 0.8m at 13.1g/t gold, 126g/t silver, 6.43 per cent copper, 1.9 per cent lead and 4.7 per cent zinc from 152.63m. “The exceptionally high grades encountered in the maiden drilling support the company’s belief that significant high-grade base metal deposits exist in the underexplored Oxberg project area,” Alicanto Minerals chief executive officer Peter George said. “Alicanto will follow up these drilling results with down-hole electromagnetic surveys (DHEM) to help plan further drilling to define the extent of the massive sulphide body and to vector drilling to more significant widths of the mineralisation.”
EMAIL firstname.lastname@example.org WEB www.alicantominerals.com.au DIRECTORS Didier Murcia, Travis Schwertfeger, Hamish Halliday
ALIC ANTO MINERALS LIMITED
2019 on a high by extending mineralisation at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia on multiple fronts. Results received from a reverse circulation (RC) drilling program extended hanging-wall splay mineralisation 150 metres to the north while providing evidence of new mineralisation some 350m east of the hanging-wall resource model. The drilling also extended the Ra deposit mineralisation 100m to the south, and provided evidence of important mineralisation in the Ra — Apollo Hill Link Zone. Results included: »» AHRC0297 5 metres at 4.7 grams per tonne gold from 126m; »» AHRC0281 6m at 4.08g/t gold from 108m within 55m at 0.62g/t gold from 92m; and »» AHRC0291 14m at 1.4g/t Au from 133m. Of note is that the new intersections sit predominantly outside the current Apollo Hill Mineral Resource of 24.5 million tonnes at 1g/t gold for 781,000 ounces of gold. They also highlight the potential to increase the scale and quality of the resource with the newer intersections continuing to improve the ratio of mineralised material to non-mineralised material in the Resource area. “Results continue to show the potential for significant resource growth immediately adjacent to Apollo Hill in the higher-grade hanging-wall zones, while a widening mineralised corridor may provide multiple opportunities for additional discovery,” Saturn Metals managing director Ian Bamborough said “Improving mineralisation in other areas such as the Ra area is a bonus. “Importantly, we look forward to results from our recently completed deeper step out holes which have been drilled to test for mineralisation down dip of both the northern and southern highergrade hanging-wall zones. “A second 10,000m extensional RC phase is planned to commence in early January 2020.”
the main project of pantoro
saturn metals closed out
EMAIL email@example.com WEB www.saturnmetals.com.au DIRECTORS Ian Bamborough, Rob Tyson, Andrew Venn
is the Nicolsons project in Western Australia that is underpinned by the high-grade Nicolsons Underground mine with a second underground mine, Wagtail, under active development. Nicolsons has been producing gold since September 2015, since when Mineral Resource and Ore Reserves have been upgraded, with both higher grades, and additional Ore Lodes identified during mining. Pantoro has completed a Processing Plant Options Review and Scoping Estimate at the company’s second Western Australian gold project, the Norseman gold project. A study completed by Como Engineers considered three options for the processing plant including: Option A — Refurbishment of existing structures and equipment in the existing location. The existing plant configuration utilises primary crushing, and a high aspect SAG mill and ball mill in series; Option B — Reconstruction of the processing facility with the same configuration at a new location using a combination of refurbished existing major equipment and new structures, piping, electrical and services in a new location; and Option C — Construction of a completely new processing facility utilising primary and secondary crushing and a single 2.3MW ball mill. The review concluded the existing leaching circuit was corroded and in addition to a large capital repair cost would have a high operating cost due to the historical air operated Pachuca tanks in place. As such, all options included a new leaching circuit using a modern mechanically agitated CIL circuit. The review found that Options A and B require similar expenditure, while Option C came in approximately $10 million higher. Option A was noted to be higher risk from both safety and financial perspectives. Option B was chosen for detailed design and cost estimation prior to construction.
EMAIL firstname.lastname@example.org WEB www.pantoro.com.au DIRECTORS Michael Jefferies, Paul Cmrlec, Scott Huffadine, Kyle Edwards
african gold has gold exploration,
kin mining’s main focus is the company’s 100 per cent-owned Cardinia gold project (CGP), located in the highly prospective North-Eastern Goldfields region of Western Australia. Kin completed a Pre-Feasibility Study (PFS) for the CGP in 2019 that determined the project as being technically sound with untested exploration potential. The CGP comprises a 414 square kilometre tenement position in the Minerie Greenstone Belt that is divided into the central Cardinia region, the southern Raeside region and the northern Mertondale region. The PFS was based on an Ore Reserve Estimate of 7.9 million tonnes at 1.1 grams per tonne gold for 283,000 ounces and a Production Estimate of 11.4 million tonnes at 1.09g/t gold for 398,000 ounces to deliver a forecast 368,000 ounces of recovered gold. The CGP contains total Measured, Indicated and Inferred Mineral Resources of 18.2 million tonnes at 1.44g/t gold for 841,000 ounces of contained gold. All resources are within a 30-kilometre radius of the proposed centrally located Cardinia process plant. Just as 2019 was closing, Kin entered into a sale and purchase agreement with Golden Mile Resources (ASX: G88) to acquire 100 per cent of two tenements contiguous with its existing CGP tenure, one to the north of the Cardinia mining centre and one to the south. Kin also agreed to privately-owned Yilgarn Exploration Ventures PL earning into exploration tenure at Desdemona North, 40km south west from the CGP. This followed a farm-in agreement with Genesis Minerals (ASX: GMD) over the Desdemona South tenements. Kin stated aim is to focus on advanced exploration opportunities at the CGP and progress targets close to its proposed processing plant site. Drilling is currently underway at the CGP with the aim of testing new targets.
development prospects in Africa. In the Cote d’Ivoire the company wholly-owns the highly-prospective 1400 square kilometre Agboville gold project via its whollyowned subsidiary Golden Ivoire SARL. Located less than 100 kilometres north west of the economic capital and largest city in Cote d’Ivoire, Abidjan, the project sits in the south east of the West African Craton in an area referred to as the South-Comoedomain, part of what is referred to as the Birimian (Paleoproterozoic rocks of West Africa). African Gold considers Agboville to have excellent prospectivity for gold as well as having potential for nickel, cobalt, copper, lithium, tantalum, niobium and beryllium. In Mali, African Gold entered into four option agreements in July 2019 to acquire the Falémé gold project located in the highly prospective and prolific gold producing Kedougou-Kenieba Inlier in western Mali known. The permits are located close to the prolific Senegal Mali Shear Zone (SMSZ) between the AngloGold Ashanti/IAM Gold Sadiola Mine and Barrick’s Loulo-Gounkoto Mine Complex. The Falémé project covers a major geological splay associated with a major flexure on the SMSZ with extensive alluvial and hard-rock artisanal gold workings scattered over 28km of strike potential. In September 2019, the company entered into a conditional purchase agreement to acquire Abra Resources. The deal delivered five permits, four of which sit within the Kedougpu-KeniebaInlier and the other in south-east Mali along strike from Resolute Mining’s SyamaMine. The permits area well located with respect to known mineralised corridors such as the SMSZ and The Syama Shear and contain a number of high-quality conceptual geological, geochemical, geophysical, historic drill intercepts and artisanal workings that have yet to be tested.
EMAIL email@example.com WEB www.african-gold.com DIRECTORS Evan Cranston, Steve Parsons, Tolga Kumova
EMAIL firstname.lastname@example.org WEB www.kinmining.com.au DIRECTORS Joe Graziano, Andrew Munckton, Brian Dawes, Nicholas Anderson, Hansjoerg Plaggemars
NATURAL RESOURCES AND ENERGY SECTOR ACROSS THE FULL PROJECT LIFE CYCLE
EVALUATION & DEVELOPMENT
PRODUCTION & RE-INVESTMENT
FRANK VAN ROOYEN
Head of Natural Resources Australia M. +61 413 011 789 Frank.vanRooyen@anz.com
Head of Strategic Banking Australia M. +61 423 848 156 Jonathan.Bloch@anz.com
Relationship Manager Junior Resources M. +61 466 523 348 Robert.Berden@anz.com
anz.com.au/business Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Item No. 97403 01.2020 WX240900
www.verticalevents.com.au Conference Line-up TechKnow Invest Roadshow - Series 10 31 March 2020
Grand Hyatt Hotel Melbourne, Victoria
2 April 2020
Surfers Paradise Marriott Resort & Spa, Queensland Reach out to highly diverse investment audiences including institutional investors, brokers & private investors at this premium investment forum for technology companies. Australia’s largest investment roadshow for the tech sector.
14 & 15 OCTOBER 2020
HILTON BRISBANE QUEENSLAND
TechKnow Invest Roadshow - Series 11 20 October 2020
Fullerton Hotel Sydney, New South Wales
22 October 2020
RIU Sydney Resources Round-up Sofitel Sydney Wentworth, New South Wales
12, 13 & 14 May 2020 Come to the financial capital of Australia to see the strongest players of the resources industry present to some of the elite of the investment industry.
Gold Coast Investment Showcase Surfers Paradise Marriott Resort & Spa, Queensland
24 & 25 June 2020
This unique event is open to ASX Companies from all sectors interested in promoting their activities to high net worth retail and Super Fund investors. The programme diversity is a key attribute to investor interest and their enquiries within the exhibition area. The relaxed south east Queensland setting caters for an enjoyable but effective time away from the office.
RIU Good Oil Conference Hyatt Regency Hotel, Perth, Western Australia
9 & 10 September 2020
This is where the who’s who of the mid-cap oil and gas industry get together to discuss the new finds and developments in the industry. Supplemented by technical presentations, this event is the second largest corporate oil event in Australia.
Grand Hyatt Hotel Melbourne, Victoria Reach out to highly diverse investment audiences including institutional investors, brokers & private investors at this premium investment forum for technology companies. Australia’s largest investment roadshow for the tech sector.
The New World Metals Conference The Westin Perth, Western Australia
November 2020 The New World Metals Conference features many of the upcoming and also developed resources companies dealing in the Lithium, Graphite, Vanadium, Copper, Cobalt, Manganese, Magnesium, Zinc, Nickel, Helium, Hydrogen, Rare Earths and other minerals associated with technology, battery storage and emission free power transmission. This combined with overviews by market professionals, will highlight the best companies that have and will take advantage of the upswing in the ‘New World Metals’.
RIU Explorers Conference Esplanade Hotel Fremantle - by Rydges, Western Australia
16, 17 & 18 February 2021 This event has always started the resources conference year, and provides the junior and mid cap resources industry a venue to communicate the latest exploration and production successes along with updates on their technical and corporate performances. The RIU Explorers Conference has seen the best of the established resources companies as well as unearth some brand new companies.
RIU Resources Investor Roadshow 15 September 2020
Fullerton Hotel Sydney, New South Wales
17 September 2020
Grand Hyatt Hotel Melbourne, Victoria The premium investment forum for minerals and oil & gas companies. The RIU Resources Investor Roadshow will showcase minerals and oil & gas companies in two major investment cities – Sydney & Melbourne.
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The Official Conference Companion for the 2020 RIU Explorers Conference