News - Market Insights

Nimy Resources (ASX: NIM) has identified nickel-bearing gossan during preparations for a diamond drill hole at the Mons nickel project in Western Australia (reports Small Caps).

The nickel-bearing gossan was found within the newly constructed diamond drilling sump at the Dease target and returned a peak portable XRF (pXRF) reading of 0.96% nickel. This sump was constructed to 3m by 6m and terminated at a 1.2m depth. A total of 17 pXRF readings of the exposed gossan returned anomalous values of nickel, copper and cobalt. The exposed gossan is close to three existing reverse circulation holes that contained nickel to 220m depths.

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Adelaide-based sustainable power company and developer PhosEnergy has won a $2.4mn grant under the Federal Government’s Cooperative Research Projects program to build cutting edge power generation units without a fuel source for space and remote defence applications (reports Stockhead). PhosEnergy, backed by Pilbara Minerals chairman Tony Keirnan and Chalice Mining’s Tim Goyder has developed GenX power generation technology, which combines metals, semiconductors, and beta-radiation to produce constant DC power over very long periods.

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In what may well be a sign of things to come, RareX has discovered additional high-grade primary mineralised zones ahead of a major new drilling push at Cummins Range (reports Stockhead).

These include a deeper high-grade zone discovered in hole CDX0018, which intersected a 21.9m interval grading 1.7% total rare earth oxides (TREO) from a depth of 275m down-hole that includes a higher grade interval of 6.4m at 3.5% TREO – the deepest intercept to date. Notably the assay from this hole returned low phosphate content, which is an indicator that bastnasite – an easily processed form of rare earths – is present. CDX0018 is part of the final batch of drill results from RareX’s (ASX:REE) 2021 diamond drilling program.

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Kingston Resources (ASX: KSN) has confirmed that a ramp-up of production from a tailings operation at the Mineral Hill gold mine in New South Wales is expected to deliver positive cash flow this month (reports Small Caps).

The ramp-up follows completion of the Mineral Hill acquisition in January from US-based Quintana MH Holdings for an upfront consideration of $1.33 million in cash and 54.9 million Kingston shares. Further deferred consideration includes a 2% net smelter royalty on future production volumes and additional payments of up to $10.66 million relating to gold production milestones from the tailings project.

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Iron ore prices are facing fresh pressure as China’s COVID-19 outbreak intensifies, but strategists say the lockdowns will only have a short-term effect on the price of the bulk commodity ahead of an expected rebound in steel demand as soon as next month (reports The Australian Financial Review).

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High-grade assay results from infill reverse circulation drilling at the Mount Flora project near Leonora in Western Australia have defined zones of primary gold mineralisation for Kin Mining (reports Small Caps).

Results from the remaining 17 holes of a 25-hole program for 3,169 metres completed in November outlined deeper primary mineralisation below previous aircore drilling and helped refine the company’s understanding of the project’s structural model. Drilling was focused on the Eastern Zone target and completed mostly on 80m and 40m-spaced sections spanning approximately 600m of strike length. An additional two holes were completed beneath anomalous aircore drilling results at the Northern Zone target.

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Stavely Minerals’ latest regional step-out from its resource-ready Thursday’s Gossan discovery in Western Victoria has borne unexpected fruit (reports MiningNews).

Six years after it first spotted the Toora West IP anomaly, and just a year since aircore drilling below the 30m of cover to make its discovery, the explorer is still grappling with the geology at the copper-molybdenum porphyry prospect. Its follow-up diamond drilling has just delivered a welcome surprise: high-grade gold.

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A wave of upgrades is about to hit the mining and energy sector, as analysts rush to keep up with soaring commodity prices sparked by the conflict in Ukraine, prompting them to increase their commodity price assumptions (reports The Australian Financial Review).

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