http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 13 Dec 2017 18:07:43 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Strategic Minerals & NAE save the best till last with highest grades yet at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8521/strategic-minerals-nae-save-the-best-till-last-with-highest-grades-yet-at-redmoor-8521.html Mon, 11 Dec 2017 22:36:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8521/strategic-minerals-nae-save-the-best-till-last-with-highest-grades-yet-at-redmoor-8521.html <![CDATA[News - New Age Exploration delivers best results to date from Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/188539/new-age-exploration-delivers-best-results-to-date-from-redmoor-tin-tungsten-project-188539.html New Age Exploration (ASX:NAE) has received the best results to date from drilling at the Redmoor Tin-Tungsten Project in Cornwall, U.K.

The last five holes of the phase II program all intersected high-grade zones within the Sheeted Vein System (SVS).

There were nine significant intersections averaging 8.4 metres at 1.34% tin equivalent and with grades up to 12.38% tin equivalent.

Redmoor is a 50:50 joint venture with Strategic Minerals Plc (LON:SML), through joint venture vehicle Cornwall Resources Limited.

The project partners are on track to release a resource update in the first quarter of 2018.

The holes were the final drilled in a 20-hole, 7,046-metre program and grades were considerably higher than previous results.

WATCH: New Age Exploration eagerly awaiting final five Redmoor assays

The average length and grade of all 33 significant intersections from SVS high-grade zones has increased to 15 metres at 1.0% tin equivalent.

One hole returned 7.0 metres at 2.63% tin equivalent from 507 metres, including 1.0 metre at 12.38%, which are the best results of the program.

Depth extent increased by 180 metres

The depth extent has been increased by 180 metres and the zones remain open at depth.

Gary Fietz, managing director, said: “In comparison to other projects, the 15 metres at 1.0% tin equivalent average would be equivalent to a copper grade of 2.5% or a gold grade of 5.3 g/t.

“The results have significantly extended the potential for the resource size and grade to improve at depth, which we believe represents a major advance for the project.

“These new results have encouraged us to start looking at how we can expedite the project development.”

Funded by farm-in payment

The majority of the 2017 Redmoor drilling program was funded by a £1.05 million farm-in payment made by Strategic Minerals in February 2017.

This payment resulted in Strategic and New Age becoming 50% joint venture partners in Cornwall Resources.

The partners’ intent with the resource update is to delineate high-grade SVS zones that have potential to be amenable to underground mining.

Work in 2018 may include further resource drilling and/or metallurgical test work, initial underground mine design, engineering studies and baseline data collection.

Subject to results, this work will position the joint venture to commence an early pre-feasibility study.

READ: New Age is leveraged to a rampaging tungsten price

The Redmoor deposit contains tin, tungsten and copper, all of which have been strong performers in the past 12 months.

China produces about 80% of the world's tungsten and in recent months there have been significant supply cutbacks.

The Chinese government is imposing quotas on tungsten production and is enforcing stricter environmental and safety rules.

Tungsten classed as critical commodity

The European Union has classed tungsten as a critical commodity and the British Geological Survey places it at the top of its supply-risk list of materials needed to maintain the U.K.’s economy and lifestyle.

Fietz said: “While it is difficult to be certain about future Chinese government policy on tungsten production quotas, we expect there to be continued regulatory pressure on Chinese supply.

“This, coupled with ongoing global demand growth for tungsten is ideal timing for the Redmoor project where recent drilling results are starting to show that higher levels of tungsten may be present in the deposit.”

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Mon, 11 Dec 2017 09:58:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188539/new-age-exploration-delivers-best-results-to-date-from-redmoor-tin-tungsten-project-188539.html
<![CDATA[Media files - New Age Exploration eagerly awaiting final five Redmoor assays ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8346/new-age-exploration-eagerly-awaiting-final-five-redmoor-assays-8346.html Thu, 09 Nov 2017 10:28:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8346/new-age-exploration-eagerly-awaiting-final-five-redmoor-assays-8346.html <![CDATA[News - New Age Exploration drill results support tin-tungsten mine ]]> http://www.proactiveinvestors.com.au/companies/news/186539/new-age-exploration-drill-results-support-tin-tungsten-mine-186539.html New Age Exploration (ASX:NAE) has received results from the remaining 5 holes of its 15-hole Phase 1 drilling program at the Redmoor Tin-Tungsten Project located in Cornwall, U.K.

Assays show high-grade zones within the Sheeted Vein System (SVS), with further broad intercepts and improved grades compared to the previous positive results released in September.

WATCH NOW: New Age Exploration encouraged by first drill results at Redmoor

Results include 7.41 metres at 2.11 % tin equivalent and 15.03 metres at 1.01% tin equivalent.

Based on continued encouraging results in high-grade zones within the SVS, two more holes have been added to Phase 2 drilling, increasing it to five holes in total.

Phase 2 drilling is currently underway with only one whole remaining to be drilled – assays will be received after logged, cut and despatched to the lab.

Gary Fietz, managing director, commented

“These new results from the Redmoor drilling program continue to show broad intercepts from high-grade zones within the SVS with even higher grades than those released in September.

“This continues to support the potential for an underground mining project focussed on the high-grade zones within the Sheeted Vein System.

“Drilling of the five Phase 2 holes is now nearing completion. We look forward to providing an update on the results of these holes by the end of the year, when laboratory analysis is completed and results are compiled.

“The team will then commence working on a resource update which is expected during the first quarter of 2018.”

Drill result details

Results for the remaining five Phase 1 holes from CRD011 to CRD015 have been received.

Three of the four holes targeting the SVS intersected high-grade zones including:

- 7.41 metres at 2.11 % tin equivalent from 298.74 metres including 1.15 metres at 7.45 % tin equivalent;
- 7.83 metres at 1.52 % tin equivalent from 156.15 metres including 2.07 metres at 3.05 % tin equivalent;
- 15.03 metres at 1.01 % tin equivalent from 311.99 metres including 3.01 metres at1.51 % tin equivalent;
- 1.00 metre at 4.40 % tin equivalent from 322.02 metres; and
- 6.63 metres at 1.44 % tin equivalent from 343.74 metres including 1.00 metre at 5.56% tin equivalent.

The remaining hole targeted the Kelly Bray lode and successfully intersected a narrow but exceptionally high-grade lode grading 8.70% copper over 0.75 metres from 367.25 metres depth.

Phase 2 drilling nearly complete

The five-hole Phase 2 drilling program is continuing to target high-grade zones within the SVS with the objective of defining a high-grade resource of sufficient size to potentially support an underground mining operation.

Currently 19 of the 20 holes of the combined Phase 1 and 2 2017 program have been completed and completion of the last hole is imminent.

The results from the five Phase 2 holes will be released after completion of logging, core cutting and laboratory analysis and are expected by the end of 2017.

Working towards a resource upgrade

The SVS high-grade zone significant intercepts continue to represent potentially attractive underground mining targets.

New Age continues to believe that the delineation of the SVS high-grade zones has the potential to significantly increase the grade of the prior December 2015 SVS resource.

Following the receipt of results from the five Phase 2 holes, a resource update will be undertaken, results for which are expected in Q1 2018.

READ NOW: New Age is leveraged to a rampaging tungsten price ]]>
Wed, 01 Nov 2017 14:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186539/new-age-exploration-drill-results-support-tin-tungsten-mine-186539.html
<![CDATA[News - New Age is leveraged to a rampaging tungsten price ]]> http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html New Age Exploration Ltd's (ASX:NAE) recent drilling at the Redmoor Tin-Tungsten Project exceeded expectations in terms of thicknesses and grades of the mineralisation.

Redmoor is located in Cornwall, U.K, and is a 50:50 joint venture with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

New Age last traded at $0.01 for a market cap of circa $5 million, the same valuation as three months prior, yet during this time the tungsten price has spiked faster than any other major metal due to reductions in Chinese supply and increasing global demand.

Tungsten has rallied 65% since the start of the year, last being valued at US$310-335/mtu.

The supply / demand dynamic

China produces about 80% of the world's tungsten, and over the past two months there have been significant supply cutbacks.

The Chinese government is now imposing quotas on tungsten production and is tightening up on enforcement of environmental and safety rules.

The European Union has classed tungsten as a critical commodity and the British Geological Survey places it at the top of its supply-risk list of materials needed to maintain the U.K.’s economy and lifestyle.

Gary Fietz, managing director for New Age, spoke exclusively with Proactive Investors, and commented:

"While it is difficult to be certain about future Chinese government policy on the application of tungsten production quotas, we expect there to be continued regulatory pressure on Chinese supply, in a similar fashion to Chinese regulation of its metallurgical coal production over the past 12 months.

"This, coupled with ongoing global demand growth for tungsten is ideal timing for the Redmoor project where a number of the recently announced high grade drilling results is starting to show higher levels of tungsten may be present in the deposit."

The Redmoor deposit contains tin, tungsten and copper.

Providing a further potential value upside for the deposit, it's worth noting tin prices are strengthening at the US$21,000 tonne levels, while copper is up around 12% over the past four months to US$2.92 pound.

Let's talk tungsten

For those new to tungsten, it is an indispensable commodity due to its unique properties including having the highest melting point of all metals (3422 oC), a high density (19.3g/cm3 similar to gold) and hardness close to diamond.

As a result tungsten has many uses in today’s society, and most commonly for its hardness in cemented carbide tools and steel alloys, such as drill bits, cutting tools and wear resistant materials which have a range of uses in industry, construction, mining and defence.

Tungsten also has a range of uses in cars and planes, where its high density is important.

Light bulbs use tungsten wire elements, as do window heating strips in cars.

Less known is tungsten’s use in automatic watches and sports equipment such as in golf clubs.

Lastly and also importantly, tungsten has a growing use in electronics such as vibrators in mobile phones and heat sinks in modern computer processors and integrated circuits.

A re-visit to the Redmoor Tin-Tungsten Project

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

A key to the project is that the joint venture has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

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Fri, 15 Sep 2017 09:06:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html
<![CDATA[News - WATCH NOW: New Age Exploration's Gary Fietz encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html New Age Exploration Ltd's (ASX:NAE) managing director, Gary Fietz, has discussed the rising tungsten price and the latest assays from the Redmoor Tin-Tungsten Project with Proactive Investors.

WATCH NOW: New Age Exploration encouraged by first drill results at Redmoor

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

READ NOW: New Age sharpens focus as news flows from Redmoor Tin-Tungsten Project ]]>
Fri, 08 Sep 2017 07:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html
<![CDATA[News - New Age sharpens focus on high-grade zones as news flows from Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html New Age Exploration Ltd (ASX:NAE) is poised to increase exploration news flow in coming months from the 50% owned Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

A resource update is then expected in the March quarter 2018.

Gary Fietz, managing director for New Age, commented:

"The initial 10 holes drilled at Redmoor this year include a number of encouraging intercepts with excellent thicknesses and grades from high-grade zones within the SVS.

"We have re-focused Phase 2 of the drilling program on further definition of high-grade zones within the SVS which we believe are a superior underground mining target than the high-grade lodes targeted by the earlier Phase 1 holes.

"We look forward to updating the market on the remaining Phase 1 and Phase 2 drilling results in quarter 4 this year and on the resource update in the first quarter of 2018."

WATCH NOW: New Age's Gary Fietz discusses tungsten price and latest results

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

These intercepts provide confidence in the continuity of high-grade zones.

Next steps

Phase 2 exploration is focused on further definition of the high-grade zones identified within the SVS as these have greater potential for a more economically attractive underground mining target than the high-grade lodes.

Location and support

CRL has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

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Thu, 07 Sep 2017 13:03:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html
<![CDATA[Media files - New Age Exploration encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html Thu, 07 Sep 2017 09:47:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html <![CDATA[News - New Age Exploration's drilling well advanced at tin-tungsten project in Cornwall ]]> http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html New Age Exploration Ltd (ASX:NAE) and 50:50 joint venture partner Strategic Minerals Plc (LON:SML) is advancing drilling at the Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

The phase 1 drilling program comprises an initial 13 holes targeting high grade mineralisation.

Drilling is well advanced with results expected around September 2017.

Redmoor

The Redmoor Tin-Tungsten Project is located between the village of Kelly Bray and the town of Callington in southeast Cornwall, around 25 kilometres by road from the city and port of Plymouth.

New Age owns 50% of Cornwall Resources Limited (with Strategic Minerals Plc the other 50%) which holds a 15-year exploration licence and Option for a Mining Licence over the Redmoor project.

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Wed, 30 Aug 2017 16:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html