Pat Volpe, chairman, said that if drilling at the wholly-owned PL 59 hits sulphide mineralisation, this will open up the potential for a substantial increase to the known mineralisation. This could also extend into the Maibele North JV ground which is only 4kms away.
Impact has intersected a 1.2 metre thick massive nickel-copper sulphide unit within 4 metre thick zone of mineralisation at the Red Hill Mine shaft. The discovery was made 20 metres beneath previous high grade drill intercepts.
Kvanefjeld is one of the most advanced, undeveloped rare earth and uranium projects globally with a maiden Ore Reserve of 108Mt at 362ppm U3O8, 2,600ppm zinc and 14,300ppm total rare earth oxides. This is sufficient to underpin an initial 37 year mine-life.
On Friday the company received an ASX Price and Volume Query, as its shares hit $0.18 intra-day, or around 26% higher than the close on the previous day. The stock closed at $0.21 on volume of 16.5 million shares.
The ASX is expected to open higher this morning following some strong leads from U.S. markets on Friday night.
The ASX SPI 200 is up 67 points to 5098.
A standby equity placement facility of up to $10m provides for investment in development of XTclave™ and to engage with U.S. based partners to commercialise opportunities in the body armour business. It is a platform to effectively commercialise ATLAS digital imagery technology in 2016.
The program follows discovery by prospectors of numerous gold nuggets at the site, north-east of Laverton in the Eastern Goldfields.
Recent traction in both consumer health and disease treatment divisions has illustrated that the diversity of the company’s portfolio may be a key advantage as a strategy of global customer outreach rolls out.
OncoSil has received a valuation of A$175-210 million from a European life sciences research group.
The 2015 drilling program will test each structure in several locations to ascertain the overall scale and tenor of the larger gold bearing mineralised region. The visible gold identified at surface occurs in three separate structures.
Assay results from drilling, continue to return consistent grade and widths of graphite mineralisation at the Mahenge project.
Stage 1 funding by Bluebird Merchant Ventures has been increased to US$1.7 million from US$1 million to complete the Definitive Feasibility Study as well as all permitting requirements for the Batangas Gold Project.