The exploration program, which includes about 40 diamond holes, is targeted at establishing a maiden JORC 2012 compliant coal resource. This could be followed by a Scoping Study and subsequently a development decision next year.
Keysbrook is on track to commence commissioning in November 2015 with first sales planned for early Q1 2016. Under the leadership of managing director, Trevor Matthews, construction of the project remains on schedule and on budget, with 74% now complete.
The new porphyry copper target under the desert sands in southern Peru will be the subject of further activity over the coming months. Latin and First Quantum are on the way to unlock the potential of their strategic concession holding.
KGL's extensive 20,000 plus metre drilling program has delivered a 36% increase in Indicated resources, and a significant increase in tonnage of the Jervois resource. The new resource will form the basis of an optimised PFS expected to be completed in October.
Assays are currently pending from drilling at the Red Bore and Curara Well projects in the prospective Doolgunna region. The company is also planning to start drilling at the Ox-Eyed Herring / Tarpon prospects in the Northern Territory.
U.S. stocks halted the five-day losing streak today, as investors looked past softer economic reports and a continued rout in China’s stock market, and waited for the outcome of the two-day Federal Reserve.
The ASX SPI 200 is 23 points to 5565.
The latest assays confirm the presence of significant zones of graphitic mineralisation at the Cascade and Epanko prospects. News flow will continue to be strong over coming weeks, with both drilling and trenching results.
Drilling of key targets at the Native Companion copper-gold project in the famed Mount Isa region is expected to start in the first week of August. This is part of the company’s efforts to explore and transform into a mid-tier copper producer .
Today’s funding, plus the award of $5 million in court costs along with $9 million due from the exercise of options, puts Axiom in an enviable financial position.
There is potential for more gold and base metal discoveries at Mount Garnet where the company is earning an initial interest of 51% from Snowmist. The region contains several large historic and active gold mines including Kidston, Mt Leyshon and Red Dome-Mungana.
The licensing agreement with Lasta Multimedia could generate revenues of between $100,000 and $350,000 per annum. It adds to recent multiple agreements signed by the company.
More than 1,200 local residents have held a pro-development rally to back the Lobo Municipal Council’s support of the development of the Batangas gold project. It is now proceeding through the final stages of approval by the central Philippines Government.