Stavely Minerals has announced a “very robust” maiden resource for the Cayley Lode discovery in Victoria (reports MiningNews).
The initial resource is 9.3 million tonnes at 1.2% copper, 0.2 grams per tonne gold and 7.1gpt silver for 252 million pounds of contained copper, 65,000 ounces of gold and 2.1 million ounces of silver.
The estimate comprises 5.87Mt at 1.04% copper, 0.23gpt gold and 7gpt silver in the indicated category.
Almost three quarters of the contained copper in the resource is constrained in an open pit optimisation in the indicated category.
The resource includes an underground component of 1.7Mt at 1.8% copper, 0.2gpt gold and 6gpt silver.
The global commodity business can get a whole lot more expensive — and dirtier, too (reports Bloomberg).
The war — and pandemic-fuelled shortage of raw materials appears poised to fuel what’s already the biggest surge in commodity prices in decades, according to the latest MLIV Pulse survey conducted June 6-10. At the same time, demand for fossil fuels is only expected to rise as Europe seeks to shift away from Russian energy, dashing any immediate hopes that high prices will foster a shift to cleaner renewable sources.
Speaking at the Resources Rising Stars Conference on Thursday, Develop Global’s Bill Beament, the driving force behind the Northern Star Resources juggernaut, said the world is currently in a “30-year bull market” for battery metals (reports Stockhead).
Pilbara Minerals says it is embarking on an incredibly impressive chapter with the lithium boom continuing despite some shocks along the way (reports Stockhead).
While acknowledging the absolute confusing week investors have been put through, new PLS MD and CEO Dale Henderson shared his macro-observations as a key participant in the supply chain.
“The recent argument is that lithium supply is coming in spades from Africa – we would caution that, and the other argument is that it is coming from lithium lepidolite… we would caution that too,” he said.
Chalice Mining managing director Alex Dorsch says the Julimar Complex could be the world’s next great nickel province (reports MiningNews).
Speaking at Resources Rising Stars on the Gold Coast yesterday, Dorsch noted that the Kambalda nickel district started with just one discovery, but 25 million tonnes of nickel had been discovered in Kalgoorlie-Kurnalpi nickel province since 1965.
"We're aiming to replicate exactly that journey on the western side of the Yilgarn," he said.
"We see hundreds of potential Gonneville-like discoveries that could be made on this belt."
The 1200km-long western margin of the Yilgarn craton is almost entirely unexplored.
Chalice holds 8000sq.km of ground in the region.
Bellevue Gold has increased reserves at its $252 million namesake project near Leinster, and now expects a mine life of 10 years when commercial production starts in the second half of 2023 (reports The West Australian).
Bellevue told the ASX on Tuesday probable reserves had increased 29 per cent to 6.8 million tonnes at 6.1g/tonne for 1.34 million ounces of contained gold.
The company said this was an increase of 300,000 ounces on the stage two feasibility study, and meant the life of mine reserves and mineral inventory had risen to 1.85Moz, underpinning an increase in mine life to 10 years, up from eight years.
Bellevue said the reserve had been independently verified by leading mining consultant Entech, and were calculated at a conservative gold price of $1750/oz.
Red 5 has achieved its goal of joining the ranks of Australia’s gold producers, with first gold poured at its King of the Hills operation north of Leonora on Sunday (reports The West Australian).
The company told the ASX on Monday the first smelt delivered two gold dore bars weighing 1588 ounces.
Red 5 managing director Mark Williams said the first gold pour marked a huge milestone for the company and its shareholders.
“It marks the beginning of a new era for Red 5, with the new 4.7Mtpa King of the Hills processing plant set to become a highly efficient production hub,” he said.
Bellavista Resources executive director Michael Wilson says the recent arrival of Canadian major Teck Resources back to Western Australia validates the potential of its flagship project (reports MiningNews).
Teck recently secured a large landholding about 20km north of Bellavista's Edmund project in WA.
Wilson told Resources Rising Stars on the Gold Coast that Teck's re-entry to WA after a long absence was "intriguing".
Historical drilling by CRA at Bellavista's Brumby zinc-copper-silver prospect returned results including 29m at 1.3% zinc, 0.22% copper and 24.5 grams per tonne silver.
"We don't believe CRA necessarily hit the best part of the system," Wilson said. "We'd expect to see the grade improving to the north and to the west."