News

Investors are clearly anticipating good news from Chalice Gold Mines, sending its stock up 11 per cent yesterday to an all-time high before the company called a trading halt (reports The West Australian).

Investors are clearly anticipating good news from Chalice Gold Mines, sending its stock up 11 per cent yesterday to an all-time high before the company called a trading halt (reports The West Australian). The explorer, chaired by Tim Goyder, pictured, has been one of WA’s market darlings this year since its March unveiling of a curious discovery at its Julimar project, just 70km north-east of Perth. Chalice hit 19m at 8.4g/t palladium, 2.6 per cent nickel and one per cent copper in its first hole at Julimar with subsequent drilling results continuing to impress.

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Chalice Gold Mines has backed up hopes its Julimar project just outside of Perth is the real deal with an airborne electro-magnetic survey pinpointing three new large anomalies (reports The West Australian).

Chalice Gold Mines has backed up hopes its Julimar project just outside of Perth is the real deal with an airborne electro-magnetic survey pinpointing three new large anomalies (reports The West Australian). The company said the results of the survey, released this morning, highlight the district-scale nickel-copper-palladium potential of the 26km-long Julimar complex, which lies 70km north-east of Perth near Toodyay. The results sent Chalice shares up almost 17 per cent to a new all-time high of $2.04 in early trade after emerging from a trading halt.

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New World Resources has uncovered extensions of thick, high-grade predominantly massive sulphides at its Antler copper deposit in Arizona (reports Stockhead).

New World Resources has uncovered extensions of thick, high-grade predominantly massive sulphides at its Antler copper deposit in Arizona (reports Stockhead). Extensional drilling is proving fruitful for New World Resources (ASX:NWC), with an intersection of 23m of well-mineralised massive and semi-massive sulphides grading 2.2 per cent copper equivalent. The thick intercept included 1.7m at 3.8 per cent copper equivalent and 4.6m at 3.8 per cent copper equivalent.

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25th September 2020

Calidus Resources has agreed to acquire Novo Resources Corp’s Blue Spec gold-antimony project for A$19.5 million cash (reports MiningNews).

Calidus Resources has agreed to acquire Novo Resources Corp’s Blue Spec gold-antimony project for A$19.5 million cash (reports MiningNews). The project, which has a historical resource of 219,000 ounces at 16.3 grams per tonne gold, is only 70km from Calidus' Warrawoona project, where early construction work started last week. The company is already reviewing the resource to upgrade it to JORC 2012. Blue Spec has shaft and decline infrastructure and was mined to 320m vertical depth, producing about 60,000oz of gold at over 25gpt.

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And speaking of red, US investment firm Bernstein is the latest to predict the red metal is about to get red hot.

Lots of gold deposits will support a new mining operation for the next 5-7 years or so thanks to gold’s elevated price levels. But few of the newbie operations - and lots of the established operations – will be around in 10 years, let alone 15 years. A long life has important valuation implications. If it comes with embedded production upside, all the better.

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Most metal prices, including gold, crept higher during the week but the big news in the Australian resources sector could be found in a strong flow of discovery and development news

Most metal prices, including gold, crept higher during the week but the big news in the Australian resources sector could be found in a strong flow of discovery and development news, supported up by a flood of fresh capital. If there was a weakness it was in iron ore where a chorus of investment banks are forecasting one last solid quarter before a long downhill slide which will take the steel-making material back from this week’s peak of $US130 a tonne to below $US90/t.

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Red 5’s bid to propel itself into the realms of Australia’s mid-tier goldminers received a shot in the arm with yesterday’s unveiling of a detailed plan for a standalone plant at its King of The Hills mine near Leonora (reports The West Australian).

Red 5’s bid to propel itself into the realms of Australia’s mid-tier goldminers received a shot in the arm with yesterday’s unveiling of a detailed plan for a standalone plant at its King of The Hills mine near Leonora (reports The West Australian). Underpinned by a 2.4 million ounce ore reserve revealed yesterday, Red 5 said that catapulted the mine into the top 10 of Australia’s largest endowed goldmines.

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18th September 2020

Kin Mining says its emerging East Lynne discovery shows all the hallmarks of being a large mineralised system near Leonora, Western Australia (reports MiningNews).

Kin Mining says its emerging East Lynne discovery shows all the hallmarks of being a large mineralised system near Leonora, Western Australia (reports MiningNews). Aircore drilling over recent weeks has been testing a 6km-long soil anomaly at East Lynne, and the early results indicate a significant shallow gold discovery associated with historical workings just 3km from the proposed Cardinia mill location.

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