Diamond drilling at Stavely Minera’s (ASX: SVY) Thursday's Gossan prospect in Western Victoria has encountered copper sulphide mineralisation
Diamond drilling at Stavely Minera’s (ASX: SVY) Thursday's Gossan prospect in Western Victoria has encountered copper sulphide mineralisation including an intercept of 952m at 0.23% copper (reports Small Caps).
Partial assays from a drilling program have returned the thickest and highest-grade intervals to date for junior explorer
The company said results received for the top 980m of a recently-completed diamond hole encountered a “very broad zone” of copper sulphide mineralisation including an “absolute whopper intercept” of 952m at 0.23% copper.
Jean-Sebastien Jacques, the chief executive of global miner Rio Tinto, says he is very confident that a new copper mine will be built at the site of a copper discovery in Western Australia
Jean-Sebastien Jacques, the chief executive of global miner Rio Tinto, says he is very confident that a new copper mine will be built at the site of a copper discovery in Western Australia recently confirmed by the miner (reports The Sydney Morning Herald).
But whether or not Rio Tinto actually builds and operates that mine is another question, and one Mr Jacques says is too early to answer.
Newcrest Mining has pounced on one of the most exciting mineral discoveries in Australia in recent years, striking a deal that will see it pump $US65 million ($92m) into the Haveiron copper-gold project in Western Australia’s Paterson Range (reports The Australian).
Newcrest announced the deal with the UK-listed owner of Haveiron, Greatland Gold, late on Tuesday.
Under the deal, Newcrest will spend an initial $US5m on exploration at Haveiron over the next 12 months and can earn a 70 per cent stake by spending $US65m over six years.
Gold played second fiddle to industrial metals this week with copper, nickel and iron ore doing best despite the rolling uncertainty of the China v US trade war. But in the background was an event which could see gold perk up next week.
NT-focused explorer Todd River Resources (ASX: TRT) is cashed up, drilling again at its Mt Hardy base metal discovery and, with an enterprise value of just over $7 million, offers investors significant leverage to exploration success.
These are the key conclusions of experience Sydney-based resource analyst Mark Gordon from Independent Investment Research (IIR) in an updated research report released this week.
Plus, Chalice set for first results from drilling near rich Fosterville gold mine
It’s been worth the wait to finally hear from Rio Tinto (ASX:RIO) as to what it is on to at its Winu (named after an old soak from an aboriginal word meaning thirsty) copper-gold-silver discovery in Western Australia’s Paterson province.
Nzuri Copper is planning to sell out of its circa A$200 million Kalongwe project in the “world’s premier copper district” for $110 million after receiving a cash offer from Chinese company Chengtun Mining Group (reports MiningNews).
Chengtun is offering 37c per share for Nzuri, a 42% premium to the company's most recent trading price.
Nzuri's 85%-owned Kalongwe project in the Democratic Republic of Congo has previously been estimated to have a net present value of US$186 million on a pre-tax basis and $130 million on a post-tax basis.
Copper is on a tear in 2019 but it could be sign of a bigger things to come (reports Stockhead).
The problem is, when it does take off, who’s going to be ready for it?
MineLife director Gavin Wendt said the current price action reminds him of zinc prices a couple of years ago, which soared more than 250 per cent in less than two years.
Back then, it was about a looming supply deficit, but nobody knew when the pressure would actually release.