In one of the most highly anticipated drilling programs in the Fraser Range we can recall, Segue Resources' MD Steven Michael has fast tracked a major diamond (and RC) program at the Plumridge Project. This was after aircore drilling intersected favourable geology with mafic/ultramafic rocks identified.
RedFlow shares are expected to rise after the company completed its initial trials with its prototype large scale energy storage system. The company is partnering with the circa $6B Flextronics for manufacturing, with commercial volumes expected before the end of 2015.
U.S. stocks are back in record territory, with the Dow settling at a record high. Investors were buoyed by comments from the Federal Reserve. Gold and crude oil are lower. The ASX SPI 200 is off three points to 5399.
Phase 2 drilling at Plymouth Mineral’s Morille Tungsten-Tin project in Spain will follow up earlier drilling this year that confirmed high-grade mineralisation and the widespread extension of mineralisation within the Project. New drilling will obtain geotechnical, structural and metallurgical information in areas which are deemed prospective for resource generation.
Drilling to increase the resources open pit limits and the M1 underground potential at Blackham Resources’ Matilda Gold Project in Western Australia has intersected high grade gold. The latest intercepts provide grades and widths that are attractive to underground mining, and confirm significant continuity of the shoots.
The acquisition of the San Santiago Assets is a "walk-in/walk-out" transaction and will cost US$5.5 million with settlement to take place on Wednesday 17 September 2014, Peru time. This will deliver to Minera control of an operating copper toll treatment business that is generating annualised EBITDA of circa US$2.5 million per annum.
Early assays from the first diamond hole drilled at Pacific Niugini’s Nicolsons Gold Mine in Western Australia have returned notable high grade results of 3.0 metres at 20.43g/t from 106 metres including 1.6 metres at 34g/t gold. Pacific Niugini is looking to re-commence mining and ore processing at the high-grade Nicolsens Project.
Phoenix Gold has identified a number of new extensions over a 3km strike to the north of Stage 1 at Castle Hill and remain open in all directions. Further drilling is planned at this new Stage 3 and an independent resource update will be completed in the December quarter.
Preliminary metallurgical and mineralogical results from Triton Minerals’ Nicanda Hill prospect in Mozambique are encouraging with recovery of up to 97.3% TGC graphitic concentrate using straight forward flotation methods. More work is underway to optimise recovery and grades along with vanadium recovery from graphite flotation tailings.
Red Mountain will raise $2M through a fully committed placement and underwritten rights issue, as it looks to drill priority targets and to complete a Feasibility Study and Permitting at Batangas.
A concept engineering study has highlighted the potential for Yellow Rock Resources’ Gabanintha project in Western Australia to produce about 10,000 tonnes of high-purity +98.5% vanadium pentoxide flake per annum at a C1 cash operating cost of A$7.26/kg for more than 20 years.
The signed off take contract to supply material to an operating flotation plant located in Hakkari Province provides high Lead-Silver content and hence an attractive feed for the Meskan Olmez Madencilik plant and a milestone for Condor's aspirations to be in early cash flow production.