Minerals 260 boss David Richards says the gold and copper hits the Liontown Resources spin-out company is getting at its Moora project shows how much of WA’s mineral wealth is yet to be discovered (reports The West Australian).
The company is continuing an aggressive drilling campaign at Moora, where is has a 1068sqkm footprint including the neighbouring Koojan joint venture project where it can earn 51 per cent by spending $4 million over five years.
Mincor Resources boss David Southam says recent volatility in the nickel market has distracted investors from the healthy underlying fundamentals of the battery metal (reports The West Australian).
His comments come after Mincor released its March quarter activities report and follow the nickel market’s plunge into chaos last month, which prompted a suspension of trade of the commodity on the London Metals Exchange.
A series of “outstanding” high-grade hits at Stavely Minerals’ namesake copper-gold project in western Victoria have paved the way for an initial mineral resource this quarter (reports Small Caps).
Intervals grading up to 7.17% copper, 30.6 grams per tonne gold and 52g/t silver at the project’s Cayley Lode were returned from a diamond drilling program designed to test the south-easterly plunge of mineralisation below the low angle structure.
They included the deepest intercepts seen to date at the prospect.
RareX has put drill rigs on the ground at Cummins Range critical minerals project, right as Federal Government support for critical minerals ramps up (reports Stockhead).
Up to three rigs will be turning at RareX’s (ASX:REE) Cummins Range as part of the largest program in the project’s history, designed to convert an exploration target to resources.
For those playing at home, the conceptual exploration target announced for Cummins Range in February was 23 million tonnes at 1.6% total rare earth oxides to 41Mt at 2.4% TREO – positioning the project as potentially one of the largest rare earths deposits in the country.
Labyrinth’s strategy to convert the existing foreign resource at its namesake project to JORC standards has received a leg-up with drilling returning some impressive high-grade golds (reports Stockhead).
Notably, the assays such as 7.5m grading 7.01 grams per tonne (g/t) gold from 213m including 0.5m at 62.51g/t gold consistently confirm or exceed historical mineralised intervals that were used for the 2010 NI43-101 estimate of 479,000oz of contained gold.
Drilling also intersected the Talus lode with results such as 3.7m at 4.75g/t gold from 23m exceeding historical lode widths.
Batteries – and more precisely battery metals – are poised to replace chips as the new bottleneck for the auto industry (reports The Washington Post).
Although there has been plenty of attention on nickel, especially after Russia’s invasion of Ukraine, another key metal, lithium, is a source of concern for manufacturers dealing with all manner of supply chain challenges.
Elon Musk, at the launch of the cyber rodeo earlier this month, is among the car makers seeking to expand lithium use. AP
Pilbara Minerals boss Ken Brinsden has declared the lithium price will go higher after his company achieved another record price for a spot cargo of its concentrate (reports The West Australian).
Releasing its March quarter production results on Thursday, the miner revealed it had accepted a bid price of $US5650 per tonne for a 5000t cargo of its 5.5 per cent spodumene concentrate in its latest Battery Material Exchange online auction.
The bid represents an equivalent $US6250/t price on a 6 per cent product inclusive of freight costs.
It is also a 140 per cent jump on the $US2350/t price Pilbara achieved for a 10,000t cargo in October.
Mr Brinsden said the results of the company’s latest BMX auction showed the global market was critically short of lithium.
BHP has joined rival Rio Tinto in citing COVID absenteeism for a 10 per cent drop in quarterly iron ore shipments from its key Pilbara operations (reports The West Australian).
The mining giant produced 66.7 million tonnes in the three months to the end of March, down from 73.9mt in the previous quarter.
However, the figure was in line with production in the previous corresponding period and in line with year-to-date output of 211mt.