The discovery of a significant new zone of mineralisation has solidified Gateway’s belief that its Gidgee project in Western Australia is a large, high-grade gold system (reports Stockhead).
The zone was intersected in reverse circulation and diamond drilling between the historical Montague-Boulder and Northeast open pits with assays returning hits of 3m grading 11.5 grams per tonne (g/t) gold from 177m in GRC698 and 3m at 5g/t gold from 314m in GDD023.
Evolution Mining has been working away at having a portfolio of 6-8 top quality gold assets ever since its inception in 2011 (reports Barry FitzGerald on MiningNews).
There has been a string of divestments and acquisitions along the way to get to the model portfolio.
But there is more work to do. Among its current portfolio of six assets, only Ernest Henry in Queensland is truly top quality, while Cowal in NSW and Red Lake in Ontario have the credentials to become top quality.
Even then, studies in to taking Ernest Henry deeper so it can continue to dazzle beyond the current known 3.5 years need to be completed, and a whole lot of capex has to be thrown at Cowal and Red Lake to make them top notch.
Lefroy has launched a drill program at its Burns copper-gold prospect near Kalgoorlie to evaluate extensions to the Western Basalt zone and the Eastern Porphyry (reports Stockhead).
The 12-hole reverse circulation program totalling 3,000m will evaluate multiple targets generated from modelling the results of earlier drilling and the ongoing diamond drilling at the Eastern Porphyry.
Lefroy Exploration (ASX:LEX) says the program will take about two week to complete with results expected in late September.
Drilling carried out by RareX last year has paid off with a 47% increase in overall resource tonnage at its Cummins Range rare earths project in Western Australia’s Kimberley region (reports Stockhead).
Resources at the project now stand at 18.8 million tonnes grading 1.15% total rare earth oxides (TREO) that includes 0.23% neodymium and praseodymium plus 0.14% niobium oxide.
The inclusion of niobium for the first time is significant as the metal used for lightweight high-strength steel alloys currently commands a price of US$92.65 per kilogram, or about three times the basket price of Cummins Range rare earths, making it a potentially valuable by-product.
OZZ has kicked off its maiden drilling campaign today at the Maguires gold project in WA less than two weeks after listing on the ASX (reports Stockhead).
“Obviously we’re very excited to hit the ground running less than two weeks after listing,” managing director Jon Lea told Stockhead.
“We’re hugely active, we’ve got an experienced board, and we’ve got the financial resources to push ahead with a significant exploration push across our key projects because we’ve just completed our IPO.”
And speaking of hunger, is St Barbara about to consume Kin and kick-start a regional consolidation?
The nickel price has rallied hard since the setback earlier in the year which was triggered by news from China’s Tsingshan that it had plans to get into the battery materials space by converting a portion of its nickel pig iron (NPI) production in Indonesia into nickel matte.
Hooray for them as there is unlikely to be a Western end-user likely to touch the stuff given the energy intensity involved in making NPI in the first place, and then using yet more to arrive at a suitable nickel matte.
Two of the biggest names in Australian mining have thrown their weight behind a star-studded special purpose acquisition company (SPAC) in the United States under plans to acquire copper and battery minerals assets (reports The Australian Financial Review
Former Northern Star Resources talisman Bill Beament and former Fortescue Metals chief executive Nev Power have joined Glencore director Patrice Merrin in “Metals Acquisition Corp”; a SPAC that filed its prospectus with the United States Securities Exchange Commission (SEC) this week.
SPACs are listed shell companies with no business activity that raise money with the sole purpose of making future acquisitions and Metals Acquisition Corp hopes to raise up to $US287.5 million ($384.3 million) ahead of a likely listing on the New York Stock Exchange.
IT was never part of Simon Lawson’s plan to run an exploration company (reports MiningNews).
A geologist by training, he describes himself as an "operations guy" who loves to get his hands dirty.
After getting his geology degree from the University of Auckland, Lawson started out his career with Jubilee Mines/Xstrata Nickel before working for Silver Lake Resources at Daisy Milano.
He then joined Northern Star Resources around the same time it had acquired the Paulsens gold mine, initially being Paulsens' geology manager before working his way up to principal geologist for the company.