Junior explorer Kin Mining (ASX: KIN) has announced a 45,000 ounce increase to the mineral resource estimate at the recently-discovered Cardinia Hill gold deposit within its flasghip Cardinia project in Western Australia (reports Small Caps).
Updated figures released today have seen the deposit’s estimate rise to 2.2 million tonnes at 1.5 grams per tonne gold for 106,000 ounces contained gold, within a global resource of 31.1Mt at 1.27g/t gold for 1.28 million ounces.
The resource includes a maiden underground inferred estimate of 125,000 tonnes at 2.71g/t gold for 11,000oz at a 2.0g/t cut-off grade and is constrained to the main lode which displays mineralisation continuity and is amenable to extraction methods.
Centaurus Metals, which last week announced a new greenfields discovery at Tigre, hasn’t let up the pace at Jaguar South, where step-out and infill drilling continues to grow potential resources at the core of the Brazilian project with eight rigs in operation (reports MiningNews).
The deepest step-out drilling at the core Jaguar South deposit to date has returned "consistent high-grade" intersections, such as 7m at 1.24% nickel from 349m, including 3m at 2.31%, over 21m at 1.25% from 367m, including 3m at 5.56%.
The hit was 50m down-dip of previous drilling.
Iron ore prices have slumped in recent weeks, currently sitting at US$120/tonne, or around AU$164/tonne (reports Stockhead).
It’s sweet spot to be in for players like Fenix Resources (ASX:FEX) who hedged ~45% of their planned production from October 2021 to September 2022 at A$230/dry metric tonne.
The company had entered iron ore swap arrangements for 50,000 tonnes per month of the Monthly Average Platts TSI 62 Index converted to AUD for the 12-month period as part of its price protection policy.
The idea was to secure the medium-term future of the Iron Ridge project – whilst maintaining exposure to the iron ore price.
Macmahon has finalised a $210 million contract for mining services at Calidus Resources’ Warrawoona gold project in the Pilbara as on-site construction heads towards completion (reports The West Australian).
The scope of work at the emerging gold producer’s development south of Marble Bar will include all open cut mining activities until December 2026.
Macmahon is already engaged in separate civil works at Warrawoona where it has 65 workers on site.
Calidus said the mill had been installed was now 60 per cent complete. Construction of the processing plant was now 63 per cent complete.
Warrawoona is forecast to produce up to 105,000 ounces a year, with the potential to increase to 139,000oz when the nearby Blue Spec deposit is developed.
Silver has long sat in the shadow of gold as a kind of poor cousin (reports Stockhead).
Silver is more abundant than gold and found in higher concentrations, but is still considered a precious metal and trades at a far higher price by weight than base metals like nickel and tin.
After hitting levels of around US$40/oz a decade ago prices spent most of the next 10 years at under half those levels.
Exposure to the commodity is sparse on the ASX, and prices have suffered some hard times, largely missing the boom gold miners enjoyed from 2017 to 2020 before spiking upwards during the pandemic.
Kairos Minerals (ASX: KAI) has uncovered what it says is an “exceptionally high-grade gold zone” at its Mt York deposit, which is part of the wider Pilbara gold project in Western Australia (reports Small Caps).
Drilling at the 873,500 ounce Mt York deposit has led to the discovery of a new gold zone, which remains open at depth.
The zone is located in “The Gap” between Main Hill and Breccia Hill historic workings.
Drilling returned an “outstanding” new high-grade intercept of 32m at 3.79 grams per tonne gold from 124m, including 16m at 6.62g/t gold from 132m, and 4m at 15.7g/t gold from 144m.
The company noted the intercept was the best in the company’s history of drilling at Mt York where 1,041 holes for 46,000m has been completed.
Pilbara Minerals has underlined the strength of the surging lithium market with an online auction of product revealing price gains of nearly 80 per cent in just seven weeks (reports The West Australian).
The Ken Brinsden-led company late yesterday revealed its recently initiated Battery Material Exchange digital auction for 8000 dry metric tonnes of 5.5 per cent lithium concentrate (spodumene) received a highest bid of $US2240/t.
It’s the shot being heard around the mining world (reports Chanticleer in The Australian Financial Review).
Just after 7pm on Tuesday evening, Perth-based lithium producer Pilbara Minerals announced it had conducted just its second-ever auction on the Battery Material Exchange, a platform it launched in March to sell unallocated tonnes of spodumene concentrate from its Pilgangoora complex, 120 kilometres from Port Hedland in Western Australia’s resource-rich Pilbara region.