Micro-cap explorer Traka Resources rose on drilling results that paint a picture of the potential at its Mt Cattlin gold-copper project in Western Australia (reports MiningNews).
Reverse circulation drilling at the Plantagenet prospect intersected mineralisation at the southern end of a 1km-plus soil geochemical and structural trend.
Results included 4m at 5.1 grams per tonne gold, 0.39gpt silver and 0.03% copper from 37m, including 1m at 11.5gpt gold, 1.28gpt silver and 0.1% copper; 4m at 15.07gpt gold, 1.28gpt silver and 0.1% copper from 61m, including 1m at 57.4gpt gold, 0.41gpt silver and 0.02% copper; and 4m at 18.52gpt gold, 1.4gpt silver and 0.05% copper from 14m, including 2m at 34.35gpt gold, 1.95gpt silver and 0.03% copper.
The mining chief driving Western Australia’s next major lithium project has shot down the prospect of soaring prices spurring an oversupply, arguing several challenges exist in getting new mines up overseas, while COVID-19 is hitting productivity and lifting wages (reports The Australian Financial Review).
Emerging lithium producer Liontown Resources has awarded Metso Outotec a A$10 million contract for the design, fabrication and delivery of the semi-autogenous grinding mill for the Kathleen Valley lithium project in Western Australia (reports MiningNews).
The 5.5 megawatt facility will have a 7.9m diameter and 4.4m effective grinding length, accommodating base production of 2.5 million tonnes per annum, as well as the planned expansion to 4Mtpa in year six of the mine plan.
The SAG mill is one of several critical long-lead items identified for early award and represents the largest single piece of equipment required to be purchased for the project by size, value and lead time.
Nuclear energy generation is growing again (writes Boss Energy MD Duncan Craib in The Australian Financial Review).
Political stability makes Australia a doubly attractive uranium fuel supplier.
The world is decarbonising and Australia has a once-in-a-generation opportunity to capitalise on the inevitable surge in global uranium demand that will accompany it.
Disruptions in Kazakhstan, where ongoing unrest may add to pre-existing operating risks such as the COVID-19 pandemic, could be a "significant catalyst" for the uranium market, Canadian uranium company Cameco has said (reports World Nuclear News).
Kazakh uranium producer Kazatomprom has said it will meet all delivery deadlines.
Industrial metal markets are marching higher again, as production outages and shrinking inventories revive worries about global supplies of some of the key building blocks of the economy and the green-energy transition (reports Bloomberg).
Metals from aluminum to zinc surged in 2021 after the pandemic hit production at mines and smelters, wreaked chaos in global logistics networks, and sparked a boom in demand. In both copper and tin, London Metal Exchange inventory levels collapsed in squeezes that drove spot prices to records in wild trading.
Re-emergent nickel miner Mincor Resources says it has mined first ore at its restarted Kambalda nickel operations and found additional high-grade tonnes in the process (reports The West Australian).
The David Southam-led company said on Wednesday it had extracted first ore from its northern operations at Kambalda, which would be stockpiled ahead of its delivery to BHP Nickel West’s Kambalda nickel concentrator next year.
However, Mincor also reported high-grade ore encountered in a development heading about 36m before its main target zone on the 485 level at the Durkin North mine.
Sandfire Resources has reported a maiden resource for its Old Highway gold deposit, which could extend the life of its depleting DeGrussa copper-gold operation (reports MiningNews).
Old Highway has an initial indicated resource of 2.8 million tonnes at 2.5 grams per tonne gold for 223,000 ounces of gold, including an 102,000oz at 9.5gpt in underground resource.
It is just 20km from DeGrussa, which is expected to run out of copper ore next year.
While modest, Old Highway could extend the life of the operation.
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