Wall Street and upbeat local updates have pulled the ASX200 up 0.5% to 5,412.2 points. There are still opportunities for bigger gains. Which mineral sands company is an example of this?
Drilling at Metals of Africa’s Rio Mazoe will target shallow Broken Hill-style lead-zinc-copper occurrences. Cassidy Shea will be the first prospect to be drilled, targeting coincident surface mineralisation with induced polarisation geophysical anomalies.
The high-grade nature of the Marshall-Reward and Bellbird intersections will most likely deliver an increase in the confidence categories for these resources. Exploration news flow will remain strong in coming weeks, with PFS results to follow.
The acquisition grants Gunson Resources prime mineral sands exploration acreage in a prospective geological setting in Tanzania. Attracting former Iluka managing director Mike Folwell as chairman provides a boost to the board’s experience.
Drilling at the Muga Project in Spain has intersected more high grade potash which included a 29.9% total contained potash (K20) intercept, which equates to an over 49% K60 product. Significantly, the company remains on target to be in a construction ready position by Q3 2015 Calendar Year.
Recent drilling has returned bonanza gold grades at the Nicolsons Gold Mine, which Pacific Niugini is farming in to. The mine has an existing 120,000tpa processing plant. Find out more about this company-maker when MD Paul Cmrlec presents at the Melbourne and Sydney Investor Luncheons. REGISTER TODAY.
The Mining Licence allows Cape Lambert Resources to start negotiations with the Sierra Leone Ministry of Mineral Resources for a mine lease agreement over the Marampa Iron Ore Project. This progression should assist with attaining potential investors.
Infill drilling results at Silver Lake Resources’ Lorna Doone and Spinifex deposits in Western Australia will be incorporated into a mining study that is progress. An update to Resources and Reserves of the deposits is also underway.
KGL Resources has discovered copper sulphide mineralisation in the first deep diamond hole at Jervois. The intersection brings with it the potential to increase the resource below 500 metres. Shallow drilling has been ongoing at Jervois, with results expected within days.
Kibaran Resources is developing an offtake agreement with ThyssenKrupp Metallurgical Products GmbH for an initial 20,000 tonnes per annum of natural flake graphite products from the Epanko Project in Tanzania. This is half the planned 40,000tpa production.
Metallurgical testing of bulk samples from MRL Corporation’s Aluketiya and Pandeniya high-grade graphite projects is now underway at China’s Wuhan University of Technology. Positive results could position the company to start ramping up commercial production of spherical graphite later next year.
The agreements with Timis Mining includes the US$12 million purchase of a royalty. This provides Cape Lambert with potential payments of up to US$56 million over four years. The first royalty payment could be made within the next three months. Timis will also have the exclusive right to purchase oxide material from CFE’s Sierra Leone Projects.