News

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.

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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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New WA nickel explorer Nimy Resources has hit the ground running, with the first stage of its multi-pronged exploration program already well underway (reports Stockhead).

Fresh from raising $6 million after costs via its IPO, Nimy is exploring for nickel sulphides at its Mons Project in the northern end of WA’s world-famous Forrestania Nickel Belt. The Forrestania Nickel Belt hosts a world-class nickel endowment at the southern end with numerous other high-grade nickel deposits extending to the north, including Spotted Quoll, Flying Fox and Cosmic Boy. Nimy is chaired by De Grey Mining (ASX: DEG) chairman Simon Lill.

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Australian resource and minerals processing technology company TNG (ASX: TNG) is progressing a range of financing workstreams for its flagship 100%-owned Mount Peake vanadium-titanium-iron project in the Northern Territory (reports Small Caps).

The company is pursuing financing in parallel with final permitting and value engineering, and design and updated costings work for a new fully-integrated plant layout at the mine site ahead of a final investment decision in the new year. It recently completed a $12.5 million share placement which was supported by a number of new domestic and international institutional investors following a virtual roadshow process co-ordinated by investment bank Canaccord Genuity as lead manager.

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Gateway’s boom exploration over the last 18 months inside the famed Murchison gold district has delivered a near 90% increase in resources – to nigh on 450,000oz – at its flagship 1000 sq km Gidgee project (reports Stockhead).

This includes new resources at the Evermore and Achilles North/Airport deposits as well as upgrades to the Montague-Boulder deposit – most of which is shallow oxide mineralisation above a depth of 100m – meaning it’s likely to be easily accessible and cheap to process. Gateway Mining (ASX:GML) has also defined a maiden Indicated resource of 743,000t grading 3.4 grams per tonne for 81,000oz of contained gold, which is at a high enough confidence to support mine planning.

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Kairos says mapping and rock chip sampling has confirmed extensive pegmatite outcrops at the Wodgina Project, as previously outlined by Ultrafine+™ analysis (reports Stockhead).

Kairos Minerals reports “an extensive swarm” of pegmatites within the lithium-caesium-tantalum (LCT) target, less than 3km from the world-class Wodgina Lithium Mine near Port Hedland in Western Australia’s Pilbara region. Two prominent pegmatite outcrops have been mapped near the western end of the delineated LCT anomaly, where soil sampling has returned peak assays for lithium up to 238ppm, caesium up to 293ppm, and rubidium up to 582ppm.

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And the imminent release of a government-funded ‘discovery’ hole is expected to put the spotlight on fellow Tennant Creek explorers Inca and Greenvale. Plus, RareX eyes publication of an exploration target as a trigger for a share price re-rating.

Emmerson has been faithful to the high-grade gold-copper potential of the Tennant Creek (TC) mineral field in the NT ever since it listed in December 2007. So it was great to see that coming up to 14th anniversary on the lists, it has returned its best ever drill result at its Hermitage project 37km north of TC. It was a stonking 117m at 3.38% copper from 75m, including 3m at 14.91g/t gold and 4.24% copper at the end of the hole.

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Iron ore staged a handy bounce above $US100 a tonne this week but most investor interest remained focussed on battery metals and the broader issue of energy transition, the two themes which will dominate markets in 2022.

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