http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 22 Nov 2017 13:04:38 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Tyranna Resources continues to drill high-grade gold near Challenger mine ]]> http://www.proactiveinvestors.com.au/companies/news/187119/tyranna-resources-continues-to-drill-high-grade-gold-near-challenger-mine-187119.html Tyranna Resources Ltd (ASX:TYX) is continuing to receive high-grade gold results from drilling at the Greenwood Gold Prospect, part of the larger Jumbuck Gold Project in South Australia.

Jumbuck is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).

The reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which is owned and operated by WPG.

Tyranna has now completed the drilling at Greenewood which comprised of 39 holes for 2,340 metres.

Of note is the outstanding new result of 10 metres at 5.16 g/t gold from 31 metres in the primary zone.

This hole was drilled to intersect the lithological structure similar to a previous hole which intersected 8 metres at 3.35 g/t gold from 55 metres in the primary zone.

Tyranna is now planning diamond drilling to test the area around the new intersection to confirm the existence of a repeat high grade pipe like structure similar to the previous discovery.

This work will be planned for the first half of 2018 following a diamond drilling program in mid-November 2017.

Meanwhile, Tyranna continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

READ NOW: Tyranna Resources shares surge as conglomerate gold rush continues

The company has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).

Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which recently confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.

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Mon, 13 Nov 2017 14:33:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187119/tyranna-resources-continues-to-drill-high-grade-gold-near-challenger-mine-187119.html
<![CDATA[News - Tyranna Resources shares surge as conglomerate gold rush continues ]]> http://www.proactiveinvestors.com.au/companies/news/186919/tyranna-resources-shares-surge-as-conglomerate-gold-rush-continues-186919.html Tyranna Resources Ltd (ASX:TYX) continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

The company’s shares closed 50% higher on Wednesday, at $0.027.

Tyranna has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).

Kairos is currently in trading halt pending the release of an announcement related to its recent activities in the Pilbara region of Western Australia.

READ NOW: Kairos Minerals has exploration results for Pilbara Gold

Kairos shares have lifted four-fold in the past six weeks as investors gain exposure to the conglomerate gold rush in the region.

Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which today confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.

Orinoco’s field review has identified extensive strike length of mapped conglomerate which is prospective for Paleo-Placer “Witwatersrand-style” gold mineralisation.

The best-known conglomerate gold deposit in the world is the Witwatersrand of South Africa that has produced >1.5 billion ounces of gold, more than one third of all of the gold produced on Earth.

Orinoco’s review was prompted in part by the renewed level of global interest in conglomerate-hosted gold mineralisation as a result of several high-profile discoveries reported recently in the Pilbara region.

These include discoveries by Novo Resources Corp (CNSX:NVO), Artemis Resources (ASX: ARV) and De Grey Mining (ASX: DEG).

READ NOW: Tyranna Resources’ shares rise after high-grade hits at Greenewood Gold Prospect

Earlier this month, Tyranna confirmed a high grade gold structure at the Greenewood Gold Prospect within the Jumbuck Gold Project in South Australia.

The new reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which has produced 1.2 million ounces of gold over its life.

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Wed, 08 Nov 2017 16:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186919/tyranna-resources-shares-surge-as-conglomerate-gold-rush-continues-186919.html
<![CDATA[News - Tyranna Resources’ shares rise after high-grade hits at Greenewood Gold Prospect ]]> http://www.proactiveinvestors.com.au/companies/news/186534/tyranna-resources-shares-rise-after-high-grade-hits-at-greenewood-gold-prospect-186534.html Tyranna Resources Ltd’s (ASX:TYX) drilling has confirmed a high grade gold structure at the Greenewood Gold Prospect within the Jumbuck Gold Project in South Australia.

The company’s shares are trading circa 14% higher intra-day, at $0.016.

Jumbuck Gold Project is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).

The new reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which is owned and operated by WPG.

Bruno Seneque, managing director, commented: “There is a lot of excitement in the Tyranna camp right now because this is what we have been looking for at Greenewood to confirm our confidence that we can identify a Challenger analogue deposit.

“Challenger has produced 1.2 million ounces of gold over its life and it would make geological sense that there are similar deposits nearby.

“Diamond drilling will now be directed with better geological modelling to increase this resource as we test the deeper and higher grade mineralisation down plunge on this structure.”

High-grade gold structure confirmed

Tyranna completed a successful drilling program in the first half of 2016, which yielded the first new discovery within the Jumbuck Gold Project area in over 15 years at the Greenewood gold prospect.

The latest drilling at Greenewood comprised of 23 holes for 1,470 metres, with assays pending for 16 holes.

The drilling highlights include 22 metres at 4.03 g/t gold from 50 metres (including 1 metre at 20.4 g/t gold from 51 metres and 1 metre at 36.9 g/t gold from 55 metres).

Importantly, the drill hole intersected pipe-like, plunging “Challenger” type structure into fresh rock.

Further drilling planned

Tyranna is now in the process of obtaining approvals to follow up this discovery with a number of planned diamond drill holes.

The diamond drilling will provide valuable structural data and is planned to commence in late November.

READ NEXT: Tyranna Resources drills high-grade gold near the Challenger Gold Mine

Last month, the company intersected wide, shallow gold from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project.

Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

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Wed, 01 Nov 2017 12:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186534/tyranna-resources-shares-rise-after-high-grade-hits-at-greenewood-gold-prospect-186534.html
<![CDATA[News - Tyranna Resources’ partner Alliance Resources increases stake in Wilcherry ]]> http://www.proactiveinvestors.com.au/companies/news/186049/tyranna-resources-partner-alliance-resources-increases-stake-in-wilcherry-186049.html Tyranna Resources Ltd’s (ASX:TYX) partner Alliance Resources Ltd (ASX:AGS) has increased its interest in the Wilcherry Project joint venture in South Australia to 61.36%.

Tyranna has now diluted its interest in the Wilcherry Project exploration area to 38.64%.

The current change in interests is a result of Alliance sole funding expenditure for the quarter ended 30 September 2017.

Moreover, Tyranna has elected not to contribute to the FY2018 exploration program totalling circa $3.7 million.

The company’s shares closed circa 7% higher on Monday following the announcement.

READ NEXT: Tyranna Resources drills high-grade gold near the Challenger Gold Mine

Tyranna recently intersected wide, shallow gold zones from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project in South Australia.

The Jumbuck Gold Project is a joint venture between Tyranna and WPG Resources (ASX:WPG), which owns and operates the Challenger gold mine and mill.

Significantly, Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

Tyranna is currently sourcing a diamond drill rig for the next stage of drilling at the Jumbuck Gold Project.

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Tue, 24 Oct 2017 08:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186049/tyranna-resources-partner-alliance-resources-increases-stake-in-wilcherry-186049.html
<![CDATA[News - Tyranna Resources drills high-grade gold near the Challenger Gold Mine ]]> http://www.proactiveinvestors.com.au/companies/news/185765/tyranna-resources-drills-high-grade-gold-near-the-challenger-gold-mine-185765.html Tyranna Resources Ltd (ASX:TYX) has intersected wide, shallow gold zones from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project in South Australia.

The Jumbuck Gold Project is a joint venture between Tyranna and WPG Resources (ASX:WPG), which owns and operates the Challenger gold mine and mill.

The Typhoon gold prospect is located less than 40 kilometres from the Challenger Gold Mine, which has produced in excess of 1 million ounces of gold to date.

Bruno Seneque, managing director, commented: “Very pleasing in the grades reported at shallow depths and especially encouraging is the reporting of higher grade found at the deeper levels of the drill holes such as #004 in this program.

While the ground conditions below these levels was poor, diamond drilling will ensure clearer indications of the mineralisation below.”

“We see a lot of potential in the Typhoon prospect and are looking forward to revealing that.”

Wide, shallow gold zones intersected

Tyranna’s stage 2 drilling at Typhoon was planned to follow up on a successful stage 1 drill program which resulted in multiple drill holes intersecting shallow high-grade gold intercepts.

The stage 2 results conclude the drilling program in the southern portion of the Jumbuck gold project, following the completion of 25 holes at Typhoon for 2,274 metres.

Stage 2 drilling highlights include:

- 11 metres at 2.72 g/t gold from 35 metres including 2 metres at 6.31 g/t gold;
- 12 metres at 1.58 g/t gold from 30 metres including 3 metres at 3.41 g/t gold;
- 4 metres at 5.74 g/t gold from 23 metres; and
- 3 metres at 4.23 g/t gold from 23 metres including 1 metre at 10.00 g/t gold.

Satellite mill feed potential

Significantly, Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

Future attempts to intercept deeper high-grade mineralisation will be made via the use of diamond drilling.

Tyranna is currently sourcing a diamond drill rig for the next stage of drilling at the Jumbuck Gold Project.

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Wed, 18 Oct 2017 13:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185765/tyranna-resources-drills-high-grade-gold-near-the-challenger-gold-mine-185765.html
<![CDATA[News - Tyranna Resources partner readies drilling program in mineral-rich Gawler Craton ]]> http://www.proactiveinvestors.com.au/companies/news/185373/tyranna-resources-partner-readies-drilling-program-in-mineral-rich-gawler-craton-185373.html Tyranna Resources Ltd (ASX:TYX) (49%) is in a joint venture with Alliance Resources Ltd (ASX:AGS) (51%) at the Wilcherry Project, located in the mineral-rich Gawler Craton of South Australia.

Drilling of four regional ground moving loop electromagnetic targets is set to commence in mid-October.

Ground surveys over the remaining regional helicopter-borne electromagnetic conductors are also scheduled to commence next month to better define conductors for drill testing.

Alliance is cash-backed, as it held $9.5 million in cash at the end of June 2017, which is similar to its market cap.

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Wed, 11 Oct 2017 11:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185373/tyranna-resources-partner-readies-drilling-program-in-mineral-rich-gawler-craton-185373.html
<![CDATA[News - Tyranna Resources shares in drilling success at Wilcherry Project ]]> http://www.proactiveinvestors.com.au/companies/news/185150/tyranna-resources-shares-in-drilling-success-at-wilcherry-project-185150.html Tyranna Resources (ASX:TYX) and its joint venture partner Alliance Resources (ASX:AGS) have received assay results from diamond drilling at their Wilcherry Project in South Australia.

During July and August, three diamond holes for 1,029 metres were drilled at the Zealous and Telephone Dam prospects to test electromagnetic (EM) conductors.

Best results include 12.7 metres at 3.9% lead, 0.2% zinc and 114 g/t silver from 65.8 metres at the Telephone Dam zinc-lead-silver prospect.

Furthermore, levels of up to 457 ppm copper were assayed at the Zealous tin prospect.

Four more EM target areas are planned to be reverse circulation drill tested during October, with the remainder in the first half of 2018.

Drill result details

Best results from Telephone Damn include:

- 12.7 metres at 3.9% lead, 0.2% zinc and 114 g/t silver from 65.8 metres including 5.6 metres at 6.8% lead, 0.2% zinc and 209 g/t silver.

Best results from Zealous include:

- 8 metres at 457ppm copper from 160.5 metres.

No significant tin results, however, it is uncertain if targeted conductors have been effectively tested.

Zealous remains an encouraging target for tin with historic intersections including 7metres at 3.16% tin from 52 metres and 5 metres at 2.29% tin from 128 metres.

Tyranna making large gains from investment

Tyranna has been booking some gains recently as it is the largest shareholder of Kairos Minerals Limited (ASX:KAI) with a holding of 31.3 million shares.

Shares in Kairos have more than tripled over the past month due to the increased global interest in conglomerate hosted gold in the Pilbara region.

READ: Tyranna Resources is leveraged to conglomerate gold

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Fri, 06 Oct 2017 09:28:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185150/tyranna-resources-shares-in-drilling-success-at-wilcherry-project-185150.html
<![CDATA[News - Tyranna Resources is leveraged to conglomerate gold ]]> http://www.proactiveinvestors.com.au/companies/news/184767/tyranna-resources-is-leveraged-to-conglomerate-gold-184767.html Tyranna Resources (ASX:TYX) is well-positioned to benefit from recent investor interest in companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

This exposure comes from Tyranna being the largest shareholder of Kairos Minerals Limited (ASX:KAI) with a holding of 31.3 million shares.

Kairos’s extensive 1,158 square kilometre tenement portfolio in the Pilbara region has been a recent driver of its share price and consequently, Tyranna’s investment.

Karios closed trading yesterday at $0.066 valuing Tyranna’s shareholding at circa $2.06 million.

A recent presentation by Novo Resources Corp (CVE:NVO) at the Denver Gold Forum on its Purdy's Reward discovery, part of its joint venture with Artemis Resources (ASX:ARV) has driven international attention to the area.

As has the recent conglomerate gold discovery at the Loudens Patch prospect by De Grey Mining (ASX:DEG).

Kairos’s tenement portfolio in the Pilbara region contains an estimated 100-kilometre strike length of the prospective lower Fortescue Group Rocks.

This stratigraphic package is similar to that which hosts the discoveries reported by Novo and De Grey.

Kairos has also previously advised that it is planning to commence a field exploration program in the near future to further evaluate the potential of its tenements for conglomerate-hosted gold mineralisation.

SPP closing today

Tyranna shareholders will have until 5:00PM WST today to participate in the share purchase plan (SPP) that is currently open.

Under the SPP, eligible shareholders are able to apply for up to $15,000 worth of new shares priced at $0.017.

Shares under the SPP also come with an attaching 1:1 option exercisable at $0.04 and expiring in 4 years.

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Fri, 29 Sep 2017 08:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184767/tyranna-resources-is-leveraged-to-conglomerate-gold-184767.html
<![CDATA[News - Tyranna Resources sets sight on the goldfields of Leonora ]]> http://www.proactiveinvestors.com.au/companies/news/183900/tyranna-resources-sets-sight-on-the-goldfields-of-leonora-183900.html Tyranna Resources Ltd (ASX:TYX) has acquired the Weebo Gold Exploration Project in the well-endowed goldfields of Leonora, Western Australia, which is host to 27 million ounces of known gold resources.

Tyranna’s findings from a recent desktop review of Weebo indicates that its geology is analogous to the nearby 2.3 million ounce Thunderbox gold deposit mined by Saracen Mineral Holdings (ASX:SAR).

The review of the Weebo Gold Project highlighted that two historic soil sampling campaigns stood out - both were gold-in-soil results.

Tyranna’s next phase of exploration at Weebo, which is anticipated to commence in October will consist of a scout air-core campaign of 21 holes for circa 1,000 metres.

The holes are located on three north-south orientated lines at a spacing of 50 metres, each line spaced 150 metres apart.

Interestingly, the drill spacing is based on the Thunderbox analogy, where the mineralised portion of the deposit was typically 30 metres wide.

Tyranna recently received strong market support for a two-stage capital raising program, with the new funds to advance exploration at the company’s key Jumbuck Gold Project in South Australia.

Firm commitments have been received for a placement at $0.017 to raise $1.7 million, which will include a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

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Wed, 13 Sep 2017 17:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183900/tyranna-resources-sets-sight-on-the-goldfields-of-leonora-183900.html
<![CDATA[News - Tyranna Resources opens Share Purchase Plan for South Australian gold ]]> http://www.proactiveinvestors.com.au/companies/news/183501/tyranna-resources-opens-share-purchase-plan-for-south-australian-gold-183501.html Tyranna Resources Ltd (ASX:TYX) is offering a Share Purchase Plan (SPP) which is capped at $1 million, on the same terms as the recent placement which raised $1.54 million before costs.

The SPP is offered at $0.017 and includes a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

The offer will be open until the 29th September 2017.

Bruno Seneque, managing director, recently commented: "With drilling at Typhoon nearly finished, the Tyranna technical team will test their new approach to the geological model with drilling to continue at Greenewood.

"This is definitely an exciting time for Tyranna shareholders.

"We feel that we are now at a catalyst change in the development of this company and I look forward to updating our shareholders over the coming quarter."

READ NOW: Tyranna Resources drills for gold at Typhoon

The Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

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Wed, 06 Sep 2017 14:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183501/tyranna-resources-opens-share-purchase-plan-for-south-australian-gold-183501.html
<![CDATA[News - Tyranna Resources' partner reveals broad zones of high-grade gold from Wilcherry ]]> http://www.proactiveinvestors.com.au/companies/news/183046/tyranna-resources-partner-reveals-broad-zones-of-high-grade-gold-from-wilcherry-183046.html Tyranna Resources Ltd's (ASX:TYX) (49%) joint venture partner Alliance Resources Ltd (ASX:AGS) (51%) has delivered some high-grade gold intercepts from reverse circulation drilling at the Weednanna gold prospect.

The prospect is part of the Wilcherry Project in South Australia.

The importance of the results is their broad, near-surface nature, such as: 60 metres at 5.65g/t gold from 47 metres; 30 metres at 2.95g/t gold from 53 metres; and 41 metres at 1.62g/t gold from 44 metres.

These were supported by high grade intersections, including: 16 metres at 7.66g/t gold from 81 metres; and 7 metres at 12.15g/t gold from 153 metres.

The results confirm the high-grade gold shoots are ovoid to rod-like in geometry and have continuity along strike.

The program covered 25 holes for just over 4000 metres, with further drilling planned at Weednanna in October 2017.

Tyranna and Alliance

Alliance also holds a direct 17.8% stake in Tyranna's listed equity.

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Tue, 29 Aug 2017 08:37:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183046/tyranna-resources-partner-reveals-broad-zones-of-high-grade-gold-from-wilcherry-183046.html
<![CDATA[News - Tyranna Resources boosts bank balance to advance Jumbuck Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/182893/tyranna-resources-boosts-bank-balance-to-advance-jumbuck-gold-project-182893.html Tyranna Resources Ltd (ASX:TYX) has received strong market support for a two-stage capital raising program, with the new funds to advance exploration at the company’s key Jumbuck Gold Project in South Australia.

Firm commitments have been received for a placement at $0.017 to raise $1.7 million, which will include a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

Tyranna will now open a Share Purchase Plan (SPP) for eligible shareholders to purchase up to $15,000 or shares, with the SPP capped at $1 million.

Bruno Seneque, managing director, commented:

"With drilling at Typhoon nearly finished, the Tyranna technical team will test their new approach to the geological model with drilling to continue at Greenewood.

"This is definitely an exciting time for Tyranna shareholders.

"We feel that we are now at a catalyst change in the development of this company and I look forward to updating our shareholders over the coming quarter."

READ NOW: Tyranna Resources drills for gold at Typhoon

The Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of: 13 metres at 3.88 g/t gold from 47 metres, and featured grades of up to 1 metre at 50.7 g/t gold.

Chairman Joseph Pinto shows support

Joseph Pinto is the company's chairman and director, and he will further align himself with the success of the company by subscribing for in the placement up to $130,000 worth of shares.

This would take Pinto's stake past 40 million shares.

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Thu, 24 Aug 2017 12:06:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182893/tyranna-resources-boosts-bank-balance-to-advance-jumbuck-gold-project-182893.html
<![CDATA[News - Tyranna Resources to lift cash position for gold hunt in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/182760/tyranna-resources-to-lift-cash-position-for-gold-hunt-in-south-australia-182760.html Tyranna Resources Ltd (ASX:TYX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Tyranna recently commenced follow-up drilling at the Typhoon gold prospect within the Western Gawlor Craton Joint Venture located in South Australia.

Significantly, the Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of: 13 metres at 3.88 g/t gold from 47 metres, and featured grades of up to 1 metre at 50.7 g/t gold.

The halt will remain in place until the opening of trade on Thursday 26th August 2017, or earlier if an announcement is made to the market.

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Tue, 22 Aug 2017 10:13:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182760/tyranna-resources-to-lift-cash-position-for-gold-hunt-in-south-australia-182760.html
<![CDATA[News - Tyranna Resources drills for gold at Typhoon ]]> http://www.proactiveinvestors.com.au/companies/news/182015/tyranna-resources-drills-for-gold-at-typhoon-182015.html Tyranna Resources (ASX:TYX) has commenced follow-up drilling at the Typhoon gold prospect within the Western Gawlor Craton Joint Venture located in South Australia.

Significantly, the Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of 13 metres at 3.88 g/t gold from 47 metres depth and featured grades of up to 1 metre at 50.7 g/t gold.

Follow-up drilling plan

At the Typhoon prospect, 2,000 metres of reverse circulation drilling will focus on:

- Strike extensions to the north-east with planned holes 21 to 33;
- Strike extensions to the south-west with planned holes 34 to 42; and
- Testing the parallel structure to the south with planned holes 43 and 44. 
The Typhoon gold prospect ranks as one of Tyranna’s most promising gold prospects due to the high gold grades encountered in its maiden drilling program in the first half of 2017.

These drilling results have confirmed the north-east/south-west structure by the underlying magnetic feature is strong vector for gold mineralisation.

Western Gawler Craton Joint Venture

The joint venture is between Tyranna (72%) and WPG Resources (28%), who owns and operates the Challenger gold mine and mill.

Tyranna aims to aim to explore for high grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

The company plans to target the more advanced gold prospects which are situated within 50 kilometres of the Challenger gold processing operations and increase the economic scale of these prospects via focused and extensive exploration drilling.

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Mon, 07 Aug 2017 10:04:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182015/tyranna-resources-drills-for-gold-at-typhoon-182015.html
<![CDATA[News - Tyranna Resources' Bruno Seneque discussed gold discovery plan at Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181482/tyranna-resources-bruno-seneque-discussed-gold-discovery-plan-at-proactive-s-ceo-sessions-181482.html Tyranna Resources' (ASX:TYX) managing director, Bruno Seneque, joined Proactive's CEO Sessions in Melbourne on Tuesday 25th July and Sydney on Wednesday 26th July.

Tyranna controls over 9700 square kilometres of ground surrounding the Challenger Gold Mine in South Australia.

The company is set for strong news flow in the coming months, with drilling commencing at the Typhoon prospect in August, followed by drilling at Greenewood in September.

ACCESS THE FULL PRESENTATION HERE

 

 

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Thu, 27 Jul 2017 11:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181482/tyranna-resources-bruno-seneque-discussed-gold-discovery-plan-at-proactive-s-ceo-sessions-181482.html
<![CDATA[News - Tyranna Resources plans expansion to gold resource ]]> http://www.proactiveinvestors.com.au/companies/news/181245/tyranna-resources-plans-expansion-to-gold-resource-181245.html Tyranna Resources (ASX:TYX) will commence a drill program in early August 2017 with the objective of increasing the gold resource at the Jumbuck Gold Project in South Australia.

The 5,000-metre reverse circulation program will target the company’s priority prospects - Typhoon and Greenewood.

The current resource stands at 219,000 ounces of gold and Tyranna aims to increase the deposit towards the exploration target of 500,000 ounces of gold.

This richly endowed group of tenements surrounds the operating Challenger Gold Mine which is operated by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

Tyranna’s strategy is to build its gold endowment so it’s sufficient to support a standalone gold project.

Bruno Seneque, managing director, commented

“These drill results to date at our target prospects within Jumbuck clearly indicate that we have high grade and plentiful gold mineralisation.

“Drilling to date has enhanced our knowledge of the geological settings and assisted us to effectively adjust our drill program to focus on building our gold resource.

“We know we have a good project on our hands and now we are getting down to the business of extracting that value by building the resource.”

Drilling following up a successful 2016 campaign

The Jumbuck Gold Project consists of 9,762 square kilometres of tenements, some of which are held in joint venture with WPG Resources (Tyranna: 72%, WPG: 28%).

The Typhoon and Greenewood prospects are held within joint venture tenements.

A total of 14,389 metres was drilled at the Jumbuck Gold Project during the 2016 calendar year with the aim to explore for high-grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

2,000 metres planned at Typhoon

The Typhoon gold prospect ranks as one of Tyranna’s most promising gold prospects due to the high gold grades encountered in its maiden drilling program.

The phase 2 program of 2,000 metres of reverse circulation drilling will focus on strike extensions and testing a parallel structure.

Significant assays from phase 1 include:

- 1 metre at 50.7 g/t gold from 71 metres;
- 13 metres at 3.88 g/t gold from 47 metres;
- 5 metres at 2.55 g/t gold from 70 metres; and
- 14 metres at 1.24 g/t  gold from 32 metres.

3,000 metres planned at Greenewood

The Greenewood gold prospect will be drilled with 3,000 metres of reverse circulation drilling after Typhoon to test strike continuation, a parallel lode and a geochemical anomaly.

Significant drill results during the 2016 calendar year included:

- 1 metre at 20.55 g/t gold from 47 metres;
- 3 metres at 8.26 g/t gold from 26 metres;
- 14 metres at 5.79 g/t gold from 35 metres; and
- 1 metre at 23.4 g/t gold from 27 metres.

Drill results to be used to calculate a resource upgrade

A resource upgrade will be calculated after the completion of drilling in early October 2017.

Tyranna entered the September quarter with a cash balance $1.4 million.

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Fri, 21 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181245/tyranna-resources-plans-expansion-to-gold-resource-181245.html
<![CDATA[News - Tyranna Resources brings gold discovery streak to Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181135/tyranna-resources-brings-gold-discovery-streak-to-proactive-s-ceo-sessions-181135.html Tyranna Resources Ltd (ASX:TYX) has been delivering some bonanza grade results from drilling at the Western Gawler Craton Joint Venture recently, such as: 1 metre at 50.7g/t gold from 71 metres.

Broader intersections include: 13 metres at 3.88g/t gold from 47 metres; 5 metres at 2.55g/t gold from 70 metres; and 14 metres at 1.24g/t gold from 32 metres.

Tyranna's partner is WPG Resources Ltd (ASX: WPG), the owner of the Challenger Gold operations located just 39 kilometres to the south.

Drilling will be ongoing in the second half of 2017.

Find out more from Bruno Seneque at Proactive's CEO Sessions.

Click below to register by email

- Melbourne: Tuesday 25th July.
- Sydney: Wednesday 26th July.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Sayona Mining (ASX:SYA): Corey Nolan
- Lithium Power International (ASX:LPI): Andrew Phillips
- Elementos (ASX:ELT): Chris Dunks
- Tyranna Resources (ASX:TYX): Bruno Seneque
- Argent Minerals (ASX:ARD): David Busch (Melbourne only)
- Bryah Resources (ASX:BYH): Neil Marston (Sydney only)

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Thu, 20 Jul 2017 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181135/tyranna-resources-brings-gold-discovery-streak-to-proactive-s-ceo-sessions-181135.html
<![CDATA[News - Tyranna Resources eyes increased gold resource at Jumbuck ]]> http://www.proactiveinvestors.com.au/companies/news/178947/tyranna-resources-eyes-increased-gold-resource-at-jumbuck-178947.html Tyranna Resources (ASX:TYX) has received high grade gold results from drilling at the Jumbuck Gold Project in the Northern Gawler Block of South Australia.

Tyranna is the manager of the Western Gawler Craton Joint Venture which includes WPG Resources (ASX:WPG) (Tyranna 72% - WPG 28%).

The companies have completed phase 1 drilling at the Typhoon and Monsoon gold prospects which are located circa 39 kilometres south of the Challenger Gold Mine.

Phase 1 drilling at Typhoon and Monsoon consisted of 65 reverse circulation holes for 5,214 metres.

High grade intercepts from the drilling at Typhoon include:

- 13 metres at 3.88 g/t gold from 47 metres including 4 metres at 10.18 g/t gold; and 
-  5 metres at 2.55 g/t gold from 70 metres including 1 metre at 7.5 g/t.

The drill assays from the Monsoon gold prospect is due in mid-June.

Tyranna is now in the process of submitting the initial samples for metallurgical test work to determine the suitability of leachable gold.

Drilling at Typhoon will resume in July 2017 and will focus on the strike extensions along the magnetic structure which is parallel to gold mineralisation intersected in recent drilling.

In January 2017, Tyranna revealed the maiden JORC 2012 inferred resource of 219,000 ounces of gold for the Jumbuck project.

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Thu, 08 Jun 2017 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178947/tyranna-resources-eyes-increased-gold-resource-at-jumbuck-178947.html
<![CDATA[News - Tyranna Resources shares rise on maiden gold resource at Jumbuck ]]> http://www.proactiveinvestors.com.au/companies/news/172064/tyranna-resources-shares-rise-on-maiden-gold-resource-at-jumbuck-172064.html The company’s shares were last trading 11% up intra-day, at $0.03.

The Jumbuck Gold Project is situated in the Northern Gawler Block of South Australia and includes about 9,762 square kilometres of ground around Kingsgate Consolidated’s (ASX:KCN) Challenger Gold Mine.

A total of 14,389 metres was drilled at the project during 2016 with the aim to explore for high grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

The Challenger gold operations is owned and operated by Tyranna’s joint venture partner WPG Resources (ASX:WPG).

The maiden resource of 219,000 ounces of gold represents the completion of the initial phase toward a 500,000-ounce gold exploration target.

All deposits are interpreted to be open at depth and have excellent potential to increase the resource with future drilling.

Tyranna is planning an exploration program for 2017 comprising a drilling campaign of 15,000 – 20,000 metres at Jumbuck, which is planned to commence in March 2017.

The company will initiate the new phase of drilling with a 2,500 metres campaign at the Typhoon and Monsoon prospects to test near surface (>10 metres) high grade targets generated by previous explorers.

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Tue, 24 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172064/tyranna-resources-shares-rise-on-maiden-gold-resource-at-jumbuck-172064.html
<![CDATA[News - Tyranna Resources Ltd has material transaction on the table ]]> http://www.proactiveinvestors.com.au/companies/news/166204/tyranna-resources-ltd-has-material-transaction-on-the-table-71139.html Tyranna Resources Ltd (ASX:TYX) is preparing to divulge details of a material project related transaction, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 23rd September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 21 Sep 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166204/tyranna-resources-ltd-has-material-transaction-on-the-table-71139.html
<![CDATA[News - Tyranna Resources Ltd gets ready to raise for tin drilling ]]> http://www.proactiveinvestors.com.au/companies/news/146797/tyranna-resources-ltd-gets-ready-to-raise-for-tin-drilling-70210.html Tyranna Resources Ltd (ASX:TYX) has been granted a trading halt by the ASX, pending details of a capital raising.

Tyranna will shortly commence a 600 metre drilling program at the Zealous Project, located in the company’s Wilcherry Hill Project in South Australia.

The halt will remain in place until the opening of trade on Friday 5th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Aug 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146797/tyranna-resources-ltd-gets-ready-to-raise-for-tin-drilling-70210.html
<![CDATA[News - Tyranna Resources Ltd to drill tin targets in Eyre Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/146796/tyranna-resources-ltd-to-drill-tin-targets-in-eyre-peninsula-70197.html Tyranna Resources Ltd (ASX:TYX) will shortly commence a 600 metre drilling program at the Zealous Project, located in the company’s Wilcherry Hill Project in the northern Eyre Peninsula.

Tyranna has secured $75,000 of assistance from the South Australian government’s PACE funding program which will allow the company to increase the drill metres in this campaign.

Previous drilling at Zealous has intersected attractive tin grades, which has led to the decision to test the down dip geology, since the deposit remains open at depth.

A 2012 drilling program discovered results as high as 7 metres at 3.28% tin from 52 metres.

Tyranna is also conducting a gold exploration program at the Jumbuck project, which covers about 8,000 square kilometres surrounding the 1 million ounce Challenger Mine in South Australia.

Under a JV with Challenger Gold Operations Pty Ltd, gold ore can be processed at the Challenger facility - Tyranna is the joint venture manager and holds a 59% equity stake in it.

The drill results in June from the Greenewood prospect at Jumbuck included 2 metres at 7.94 g/t gold from 41 metres.

Last week, the company reported four new intersections, each over 15 g/t gold, at the Camp Fire Bore Prospect.

Tyranna is currently preparing a comprehensive exploration program to extend and define the promising new gold discoveries at the Greenewood and Campfire Bore prospects.

It is anticipated that drilling will commence soon and be completed by November 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Aug 2016 08:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146796/tyranna-resources-ltd-to-drill-tin-targets-in-eyre-peninsula-70197.html
<![CDATA[News - Tyranna Resources Ltd makes gold discovery in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146795/tyranna-resources-ltd-makes-gold-discovery-in-south-australia-68956.html Tyranna Resources Ltd (ASX:TYX) has moved closer to achieving a gold resource of over 0.5 million ounces by the end of 2016 with its new gold discovery at the Jumbuck Project in the Northern Gawler block of South Australia.

Reverse circulation (RC) drilling results from Tyranna’s Mainwood Prospect include 2 metres at 7.94 g/t gold from 41 metres, 3 metres at 2.45 g/t gold from 31 metres and 2 metres at 2.36 g/t gold from 30 metres.

This initial resource would form the basis of an initial 3 to 5 year mining plan providing the a platform for accelerated resource definition within the area targeting an overall gold resource of 2 to 3 million ounces in the medium term.

Adding upside, is that six of the seven advanced gold prospects form part of a joint venture with Challenger Gold Operations Pty Ltd, which has a gold plant within 50 kilometres of the Challenger gold processing plant.

Under a JV, gold ore can be processed at the Challenger facility whereby Tyranna is the joint venture manager and holds a 59% equity stake in it.

Located north of the main Mainwood gold mineralization, Greenewood could extend the latter’s strike length by over 800 metres.

Tyranna has completed half of its 42-hole RC drilling program at Mainwood. The remaining 21 holes are still being drilled, and on completion, the company will move its rig to the Camp Fire Bore Prospect.

It is possible that with the new find, Tyranna would be able to link the Mainwood Prospect, in the south west, to the Camp Fire Bore Prospect in the north.

Tyranna was created from the merger of Ironclad Mining (ASX:IFE) and Trafford Resources (ASX:TRF). The intention of the merger was to form a company that was adequately funded to execute effective exploration.

Tyranna's share price has doubled since January 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 01 Jun 2016 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146795/tyranna-resources-ltd-makes-gold-discovery-in-south-australia-68956.html
<![CDATA[News - Tyranna Resources Ltd to gain from ramp up of Orinoco’s Casavel gold mine ]]> http://www.proactiveinvestors.com.au/companies/news/146794/tyranna-resources-ltd-to-gain-from-ramp-up-of-orinocos-casavel-gold-mine-68775.html Tyranna Resources Ltd (ASX:TYX) is set to benefit from the ramping up of exploration, in and around the Cascavel Gold Mine in Brazil by Orinoco Gold Ltd (ASX:OGX).

In addition to owning 5.58% equity in Orinoco, Tyranna holds performance shares and share options in the Perth-based Orinoco.

The plant construction at Cascavel is on track for commissioning next month. As a result, the focus is now centred on growing the operation and identifying new sources of ore in proximity to the plant.

The Cascavel Project hosts high-grade, structurally-controlled coarse gold shoots, where underground sampling has returned bonanza grades including 15 metres grading 88 grams of gold per tonne.

Cascavel represents a significant gold bearing system and the expansion of exploration will seek to unlock additional gold resources to expand the mine life.

Plans are in place to try to re-open the original shaft and take a large scale bulk sample. An earlier bulk sample of 2.5 tonnes returned a gold assay value of 27.2 g/t.

In addition, exploration drilling, in and around the mine, is about to commence. The drilling is to test for additional stacked vein systems and strike and dip extensions of the gold currently being mined.

In March, Tyranna had commenced its 2016 drilling program at the Jumbuck Gold Project in Gawler Craton, South Australia as part of a JV with Challenger Gold Operations Pty Ltd.

The aim of this drilling is to outline a near surface gold resource of more than 500,000 ounces of gold from seven advanced gold prospects, all of which are within 50 kilometres of the idled Challenger gold processing plant.

Tyranna shares have surged 89% since January 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146794/tyranna-resources-ltd-to-gain-from-ramp-up-of-orinocos-casavel-gold-mine-68775.html
<![CDATA[News - Tyranna Resources Ltd vends interest in Pilbara Lithium-Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/146793/tyranna-resources-ltd-vends-interest-in-pilbara-lithium-gold-project-68182.html Tyranna Resources Ltd (ASX:TYX) has been allotted 180 million ordinary shares and 90 million $0.01 unlisted options exercisable on or before 30th June 2017 by Mining Projects Group Ltd.

The securities are issued as part consideration of Tyranna selling its 90% interest of the Lynas Find assets which are to be renamed as the Pilbara Lithium-Gold Project.

A further 90 million shares will be issued when the Pilbara Lithium-Gold tenements are granted.

Mining Projects Group Ltd, which is to be renamed as Kairos Minerals Ltd, will also issue ‘milestone shares’ totalling 144 million ordinary shares if certain JORC resources of lithium or gold are established.

Tyranna will place all securities in voluntary escrow for a period of 12 months from the dates of issue.

The Pilbara Lithium-Gold Project adjoins both Pilbara Minerals Ltd’s (ASX:PLS) Pilgangoora lithium-tantalum project (52.2 million tonnes at 1.3% Li2O) and Altura Mining Ltd’s (ASX:AJM) Pilgangoora lithium project.

The project’s northern tenements border Pilbara’s lithium-hosting spodumene deposit, where recent drilling is less than 500 metres from the tenement boundary.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 20 Apr 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146793/tyranna-resources-ltd-vends-interest-in-pilbara-lithium-gold-project-68182.html
<![CDATA[News - Tyranna Resources Ltd in ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/146792/tyranna-resources-ltd-in-asx-trading-halt-67979.html Tyranna Resources Ltd (ASX:TYX) has been granted a trading halt by the ASX, with tis shares placed in pre-open.

Tyranna requested the halt pending 'a material announcement to the market.'

Recently the company commenced drilling at the Jumbuck Gold Project in the northern Gawler Craton of South Australia.

The halt will remain in place until the opening of trade on Wednesday 13th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Apr 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146792/tyranna-resources-ltd-in-asx-trading-halt-67979.html
<![CDATA[News - Tyranna Resources Ltd gold drilling gets under way in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146791/tyranna-resources-ltd-gold-drilling-gets-under-way-in-south-australia-67645.html Tyranna Resources Limited (ASX:TYX) has commenced its 2016 drilling program at the Jumbuck Gold Project in Gawler Craton, South Australia.

This first phase of 6,200 metres reverse circulation drilling forms part of an overall drilling program of approximately 15,000 to 20,000 metres planned for 2016.

The aim of this drilling is to outline a near surface gold resource of more than 500,000 ounces of gold from seven advanced gold prospects, all of which are within 50 kilometres of trucking to the idled Challenger gold processing plant.

Six of the seven gold prospects form part of a JV with Challenger Gold Operations Pty Ltd.

Under the JV, and subject to certain conditions, gold ore may be processed at the Challenger facility.

Tyranna is the JV manager and holds a 59% equity stake which can be increased to 70%.

Drilling will concentrate on the four northern advanced prospects of Golf Bore, Golf Bore North, Mainwood and Camp Fire Bore where previous drilling has identified significant gold potential.

Shallow aircore drilling on 200 metre line spacing at Golf Bore North returned gold intercepts of up to 1 metre at 9.89 g/t gold and 3 metres at 2.48 g/t gold.

Assay results from the initial drill programs are likely to be received in April and May.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 22 Mar 2016 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146791/tyranna-resources-ltd-gold-drilling-gets-under-way-in-south-australia-67645.html
<![CDATA[News - Tyranna Resources launches Jumbuck gold exploration drive ]]> http://www.proactiveinvestors.com.au/companies/news/146790/tyranna-resources-launches-jumbuck-gold-exploration-drive-67172.html Tyranna Resources (ASX:TYX) has begun its 2016 exploration drive aimed at resource definition at the Jumbuck gold project in South Australia.

Significantly, the Jumbuck gold project comprises over 8,000 square kilometres of contiguous tenements surrounding the 1 million ounce Challenger gold mine.

Tyranna initiated the Golf Bore drilling program with the ambition to define a low cost, mineable, near surface, gold orebody, and locate likely “feeder” zones.

Success could indicate a gold mineralized structure which may be similar to that at the 1 million ounce Challenger Mine.

The extensive regional program has begun at seven gold prospects and one nickel prospect within the northern portion of the Jumbuck area, situated on the Gawler Craton.

The company plans to drill 15,000 metres at multiple targets this year, the first 6,500 metres of which is scheduled for March.

Following the success of the 2015 RC drilling at Golf Bore, it is now planned to drill and define additional resources to target a shallow gold resource of 500,000 ounces.

Calcrete, when used as a first pass exploration indicator, has proved to be the most effective tool for target generation at Jumbuck.

The benefit in this region is the ubiquitous occurrence of calcrete and its absorbent properties for gold in particular, but for other elements also.

It was the method by which the Challenger gold mine was discovered and has been the reason for all of the other gold prospect discoveries since. Historical detailed drill testing has shown that calcrete, when used in conjunction with follow-up exploration drilling, is effective at defining broad mineral anomalism.

There are more than 300 known calcrete anomalies within the Jumbuck project area with values greater than 20 parts per billion gold that have yet to be followed up by further drill testing.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 24 Feb 2016 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146790/tyranna-resources-launches-jumbuck-gold-exploration-drive-67172.html
<![CDATA[News - Tyranna Resources hits high-grade gold in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146789/tyranna-resources-hits-high-grade-gold-in-south-australia-65185.html Tyranna Resources (ASX:TYX) has intersected primary gold at its Jumbuck project in South Australia, with consistently high grades suggesting viable gold mine development is likely.

Drilling at the project’s Golf Bore area has returned 2 metres at 31.6 g/t gold from 79 metres, 1 metre at 27.9 g/t gold from 107 metres and 1 metre at 17.5 g/t gold from 40 metres.

Other assays marked 1 metre at 16.5 g/t gold from 56 metres and 2 metres at 9.7 g/t gold from 40 metres.

A broader 4-metre intersection also recorded 5.9 g/t gold from 56 metres.

Resource modelling and metallurgical testwork is now underway.

Golf Bore is one of seven advanced prospects at Jumbuck, which comprises more than 8,000 square kilometres of contiguous tenements surrounding Kingsgate Consolidated Limited’s (ASX”KCN) 1-million-ounce Challenger gold mine.

Golf Bore is being developed as a joint venture with Kingsgate and is expected to deliver early, low-cost production at the site.

After the sale of a non-core asset earlier this month, Tyranna shares have enjoyed positive price momentum, with Jumbuck exploration well funded and encouraging initial drill results.

The stock was last trading at A$0.03, compared to a range around $0.02 earlier this month and during most of September.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 20 Oct 2015 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146789/tyranna-resources-hits-high-grade-gold-in-south-australia-65185.html
<![CDATA[News - IronClad Mining and Trafford to emerge with leaner structure ]]> http://www.proactiveinvestors.com.au/companies/news/146788/ironclad-mining-and-trafford-to-emerge-with-leaner-structure--59792.html IronClad Mining (ASX:IFE) and Trafford Resources (ASX:TRF) have executed a merger agreement that will see IronClad acquire all of the issued shares in Trafford under a Scheme of Arrangement.

Given that Trafford was the major shareholder of Ironclad it will remove duplication/repetition of share ownership and lower administrative costs and listings costs, it is surprising it did not occur sooner.

Under the proposed scheme IronClad will offer one IronClad share for every one Trafford share. This will result in IronClad issuing an additional 128,653,062 shares.

This will mean that, upon completion of the transaction, IronClad will have a total of 236,856,933 shares on issue. The value of the 28.7 million IronClad shares currently owned by Trafford has been taken into account, by the independent directors in arriving at Trafford’s value and hence the merger share ratio.

Following completion of the transaction it is intended that those shares be cancelled.

The offer is subject to a number of conditions, including receipt of ASIC, ASX and other regulatory approvals and no material adverse change or prescribed event for either company.

 

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 29 Dec 2014 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146788/ironclad-mining-and-trafford-to-emerge-with-leaner-structure--59792.html
<![CDATA[News - IronClad Mining to update future development of the Wilcherry Hill iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/146787/ironclad-mining-to-update-future-development-of-the-wilcherry-hill-iron-ore-project-50747.html IronClad Mining (ASX: IFE) is preparing to release details regarding the future development of the Wilcherry Hill Iron Ore Project, with the ASX granting the company a trading halt.

IronClad's shares are currently in pre-open.

Wilcherry Hill is located 30 kilometres north of the township of Kimba in South Australia, and comprises four tenements and covers an area of 976 square kilometres.

Wilcherry Hill is an 80:20 joint venture between IronClad and Trafford Resources (ASX: TRF).

The halt will remain in place until the opening of trade on Wednesday 4th December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 02 Dec 2013 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146787/ironclad-mining-to-update-future-development-of-the-wilcherry-hill-iron-ore-project-50747.html
<![CDATA[News - Ironclad Mining to own 80% of manganese mineralisation at South Australia project ]]> http://www.proactiveinvestors.com.au/companies/news/146786/ironclad-mining-to-own-80-of-manganese-mineralisation-at-south-australia-project-49428.html Ironclad Mining (ASX: IFE) has signed an agreement with Trafford Resources (ASX: TRG) to earn up to 80% in all manganese over the Wilcherry Hill Project in South Australia.

The exploration and development of manganese will tie in with the Willcherry Hill Iron Ore Project – an existing 80:20 JV with Trafford – that the company is currently developing.

The manganese potential at Wilcherry Hill is well developed with the current resource defined at Hercules as part of the iron ore resource outlined in addition to the Pier Prospect which is located north of Hercules and returned high grade manganese from rock chip sampling.

Under the agreement, Ironclad will pay Trafford $250,000 on signing the joint venture agreement.

It can earn the first 50% by spending $1 million within one year of the signing. This includes a commitment to complete 4,000 metres of reverse circulation drilling.

Ironclad then has the right to earn the remaining 30% by spending an additional $2 million over a further two years.

Upon IronClad reaching an 80% interest, Trafford’s remaining 20% interest will be free carried up to a decision to mine.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 24 Oct 2013 09:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146786/ironclad-mining-to-own-80-of-manganese-mineralisation-at-south-australia-project-49428.html
<![CDATA[News - IronClad Mining tweaks mine plan for South Australia iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/146785/ironclad-mining-tweaks-mine-plan-for-south-australia-iron-ore-project--48676.html IronClad Mining (ASX: IFE) has re-optimised the Stage One mine plan for its Wilcherry Hill iron ore project on South Australia’s Eyre Peninsula that has estimated Open Cut Marketable Reserves at 2.9 million tonnes.

This consists of 1.9Mt DSO ore grading 57% iron and 1Mt of dry magnetic separation (DMS) product with an average concentrate grade of 52.6% iron.

It noted that at current iron prices of about US$133 per tonne, the project would generate cash flow of A$90 million after capital repayment – an IRR of 305%, and cash flow of A$48 million (IRR 114%) at floor prices of US$110 per tonne.

The company expects to receive the key final port development approval in late October which will in turn accelerate current financing negotiations.

Wilcherry Hill

The Stage One development of Wilcherry Hill is defined as the mining and shipping of DSO and DMS ore.

Start-up capital requirements are estimated at about $22 million, allowing for the purchase of owner operated crushing plant that would help reduce overall operating costs by about 25%.

It is proposed that the port fleet of two dumb barges, two tugs and a floating crane will be finance leased and be fully paid by the end of current Stage One mining operation. The lease costs are included in the overall operating costs and are anticipated to amount to about $24 million.

Ore will initially be transported by double road trains to a stockpile storage facility about 1.5 kilometres from the port of Lucky Bay, which is located 120 kilometres south of Whyalla.

From there it will be loaded into air-tight containers and tractor transported to the portside hardstand before being loaded by crane onto dumb barges.

Tugs will then take the barges 5.5 nautical miles out to sea where a barge mounted crane will be moored. This will then load the ore from the containers into Panamax or Cape-sized vessels anchored alongside it.

Several Chinese buyers have already confirmed their willingness to buy the DSO product.

Ironclad has a 80% interest in the project while Trafford Resources (ASX: TRF) holds the remaining 20%.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 02 Oct 2013 10:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146785/ironclad-mining-tweaks-mine-plan-for-south-australia-iron-ore-project--48676.html
<![CDATA[News - IronClad Mining: Wilcherry Hill set to benefit from former Worley Parsons project director’s skills ]]> http://www.proactiveinvestors.com.au/companies/news/146784/ironclad-mining-wilcherry-hill-set-to-benefit-from-former-worley-parsons-project-directors-skills--29677.html IronClad Mining (ASX: IFE) has gained the experience of 40 year civil engineering veteran David Burvill with his appointment as project director.

Burvill, a former senior executive of Worley Parsons and OZ Minerals (ASX: OZL), specialises in the development of large scale resource projects, which will benefit IronClad greatly as it develops the Wilcherry Hill iron ore project on South Australia’s Eyre Peninsula.

He was most recently project director for Worley Parsons at Hancock Prospecting’s Roy Hill iron ore project in Western Australia, where he was responsible for the greenfield development of the mine’s processing plant and associated infrastructure.

Burvill was also project director at OZ Minerals’ Prominent Hill copper-gold project in South Australia, where he was responsible for the management of the mine’s design, procurement, construction and commissioning.

He has also held a similar position with Ertech, which was awarded the construction contract for the Chevron-Exxon Mobil Gorgon LNG plant on Barrow Island, off Western Australia.

Burvill has also worked for BHP Billiton (ASX: BHP), WMC Limited and Anaconda Nickel.

Wayne Richards, managing director of IronClad Mining, commented on the appointment: “David has the exact knowledge, experience and skill set required by the company to progress our Wilcherry Hill and Hercules iron ore projects.

“He will primarily focus on the project development and construction execution plan for the Gravity Separation (wet beneficiation) Circuit at Wilcherry Hill.

“This processing facility has recently progressed to a stage of ‘expressions of interest’ for detailed Front-end Engineering and Design and construction.”

IronClad Mining is moving closer to cash flow generation from the Wilcherry Hill mine with the South Australian Government’s recent approval of the development application for port facilities designed for iron ore shipments from the project.

A major plus for Wilcherry Hill is that the first two years of production from the project has been contracted for sale to international steel mills under comprehensive sales and marketing agreements.

Additionally, 50% of year three and four’s forecast production has been contracted for sale through an offtake agreement with Hong Kong-based company New Page Investments.

Stage one at the project includes the production of 1 million tonnes per annum of direct shipping ore magnetite, which will double in the second year of operation.


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Mon, 04 Jun 2012 12:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146784/ironclad-mining-wilcherry-hill-set-to-benefit-from-former-worley-parsons-project-directors-skills--29677.html
<![CDATA[News - IronClad Mining: Wilcherry Hill iron ore shipments a step closer after South Australian Government approval ]]> http://www.proactiveinvestors.com.au/companies/news/146783/ironclad-mining-wilcherry-hill-iron-ore-shipments-a-step-closer-after-south-australian-government-approval-27433.html IronClad Mining (ASX: IFE) has taken another step towards utilising the cash generating potential of the company's new Wilcherry Hill mine.

The South Australian Government has now approved the development application for port facilities designed for iron ore shipments from the project.

A major plus for Wilcherry Hill is that the first two years of production from the project has been contracted for sale to international steel mills under comprehensive sales and marketing agreements.

Additionally, 50% of year three and four’s forecast production has been contracted for sale through an off-take agreement with Hong Kong based company New Page Investments
Limited.

Stage one at the project includes the production of 1 million tonnes per annum of direct shipping ore magnetite, which will double in the second year of operation.

Wayne Richards, managing director, commented on the positive development news for the company:

“We are most appreciative of the South Australian Government’s expeditious approval of this Development Application for another vital piece of SA mining infrastructure.

“For IronClad, development approval for the port facility finalises the company’s requirements for an ‘end-to-end’ logistics supply chain for the ore produced from our Wilcherry Hill Project, and has the potential to be expanded to accommodate the ore from our larger Hercules Project currently under review.

“Further, the facility will provide an economic and viable export option (in a timely manner), for the development of our projects, and will stimulate economic growth and employment opportunities within the area.”

Importantly - the port facility will provide an export point potentially for other mining companies and exporters in the region.

The Wilcherry Hill iron ore project is a joint venture between IronClad (80%) and Trafford Resources (ASX: TRF) (20%).


What the approval means

The outcome from the project development approval is the final process for IronClad to commence construction of infrastructure at the existing Lucky Bay port, near the township of Cowell on the coast of the Spencer Gulf, and permits future iron ore exports via the new Eyre Peninsula facilities.

In a first for South Australia, IronClad will initially use the Lucky Bay facility to transport iron ore from this port to ships anchored offshore adjacent to the port.

IronClad’s growth plans could potentially upgrade this system to incorporate the innovative concept of a floating harbour, with suitable holding warehouses for the ore, both on land and at sea.

Cape-sized vessels with a carrying capacity of up to 150,000 tonnes could then be loaded with iron ore from the floating harbour, which would potentially be owned and operated by IronClad.

IronClad has an agreement with Sea Transport Development SA Pty Ltd (SEATS) for full access rights to the designated 50-hectare port site at Lucky Bay, where it will store and ship iron ore from its Wilcherry Hill and Hercules projects.

Richards added, “The construction of the first purpose-built barge for the transhipment of ore is well advanced, with the vessel scheduled to arrive in South Australia early in the third quarter of this calendar year.”


Cashed up

At the end of last month IronClad received a major vote of confidence in the company's operations from Cygnet Capital, with an underwriting agreement signed for around three quarters of the 16.33 million April 2012 company options.

This ensures the company receives guaranteed gross proceeds of $9 million.

 

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Tue, 10 Apr 2012 10:25:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146783/ironclad-mining-wilcherry-hill-iron-ore-shipments-a-step-closer-after-south-australian-government-approval-27433.html
<![CDATA[News - IronClad Mining: part underwritten options to provide up to $12.2m funding injection ]]> http://www.proactiveinvestors.com.au/companies/news/146782/ironclad-mining-part-underwritten-options-to-provide-up-to-122m-funding-injection-27114.html IronClad Mining (ASX: IFE) has received a major vote of confidence in the company's operations from Cygnet Capital, with an underwriting agreement signed for around three quarters of the 16.33 million April 2012 company options.

The agreement with Cygnet is to underwrite the conversion of up to 12 million of all remaining IronClad listed options priced at $0.75 each, ensuring the company receives guaranteed gross proceeds of $9 million.

IronClad issued 16.33million options April 2012, which expire at 5pm today (Friday, 30 March 2012), and which if fully exercised, will raise a total of $12.2 million, pre broker fees (including the $9 million underwritten by Cygnet Capital).

At 3pm EST today, IronClad was trading comfortably above the exercise price at $0.82.

IronClad said that the funds will be allocated to continue the ongoing development of the company’s Wilcherry Hill iron ore mine on South Australia’s Eyre Peninsula. (IronClad's joint venture partner Trafford Resources has already exercised all of its 1.2 million options into fully paid ordinary shares.)

Pre-production and grade control drilling are underway at Wilcherry Hill, along with fabrication of the Dry Magnetic Separation plant.

IronClad is developing an independent end to end operating business system, including the mine, processing plant and utilities, supply-chain logistics and export facilities at Lucky Bay.

In stage one, Wilcherry Hill will produce 1 million tonnes per annum of Direct Shipping Ore magnetite, with an increase to 2 million tonnes per annum from the second year of operation.

Stage two of the project will see production increase to between 4 and 5 million tonnes per annum, combining Wilcherry Hill magnetite concentrate with the DSO product.

Sale contracts have been established for the first two years of production from Wilcherry Hill, and 50% of production from years three and four.

 

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Fri, 30 Mar 2012 15:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146782/ironclad-mining-part-underwritten-options-to-provide-up-to-122m-funding-injection-27114.html
<![CDATA[News - IronClad Mining welcomes new COO as the company advances to iron ore production at Wilcherry Hill ]]> http://www.proactiveinvestors.com.au/companies/news/146781/ironclad-mining-welcomes-new-coo-as-the-company-advances-to-iron-ore-production-at-wilcherry-hill-27046.html IronClad Mining (ASX: IFE) has appointed Robert Mencel as chief operating officer, with an initial focus on finalising the Commissioning and Operating Plan to bring the Wilcherry Hill Project into production.

Former Mount Gibson Iron (ASX: MGX) executive Mencel will take up his role with IronClad in mid-April.

His most recent role with Mount Gibson was General Manager of the 4 million tonne per annum Koolan Island Project.

Prior to that, Mencel was General Manager at Mount Gibson’s 3 million tonne per annum Tallering Peak hematite project

IronClad managing director Wayne Richards said Mencel’s specific skill set is exactly what the company had been seeking to complement the senior executive team.

“Mr Mencel has extensive project management experience developing greenfield projects from initial scoping studies through to commissioning and early operation,” Richards said.

Pre-production and grade control drilling are underway at Wilcherry Hill, along with fabrication of the Dry Magnetic Separation plant.

IronClad is developing an independent end to end operating business system, including the mine, processing plant and utilities, supply-chain logistics and export facilities at Lucky Bay.

In stage one, Wilcherry Hill will produce 1 million tonnes per annum of Direct Shipping Ore (DSO) magnetite, with an increase to 2 million tonnes per annum from the second year of operation.

Stage two of the project will see production increase to between 4 and 5 million tonnes per annum, combining Wilcherry Hill magnetite concentrate with the DSO product.

Sale contracts have been established for the first two years of production from Wilcherry Hill, and 50% of production from years three and four.

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Thu, 29 Mar 2012 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146781/ironclad-mining-welcomes-new-coo-as-the-company-advances-to-iron-ore-production-at-wilcherry-hill-27046.html
<![CDATA[News - IronClad Mining: Cash boost to support maiden iron ore production at Wilcherry Hill ]]> http://www.proactiveinvestors.com.au/companies/news/146780/ironclad-mining-cash-boost-to-support-maiden-iron-ore-production-at-wilcherry-hill-26769.html IronClad Mining (ASX: IFE) is set to receive $840,000 towards the progressing of the Wilcherry Hill Iron Ore Project from major shareholder and joint venture partner Trafford Resources (ASX: TRF) by the end of the month.

Trafford plans to exercise all of the IronClad options held, about 1.12 million, at $0.75 each, by the expiry date on March 30, 2012.

Funds from the exercise of options will be put towards advancing the Wilcherry Hill project, in which Trafford Resources is a joint venture partner with a 20% interest.

The first stage of production at Wilcherry Hill is on target to commence in the current quarter, with the inaugural exports to be achieved in the June quarter this year.

Earlier this month, IronClad began a 2,000 metre grade control drilling program at Wilcherry Hill, focused on the Weednanna deposit where mining will begin. The program is targeting near surface direct shipping ore.

Importantly, cashflows from production at Wilcherry Hill will be able to support Feasibility Studies on IronClad’s massive Hercules project, situated about 15 kilometres east of Wilcherry Hill.

Wilcherry Hill – rapid advance towards cash flow

IronClad is expecting to export about 1 million tonnes in its first full year of production, increasing to 2 million tonnes in its second year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

Additionally, 50% of the forecast production for year’s three and four has been contracted through an offtake agreement with Hong Kong-based company New Page Investments.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

Stage Two plans to increase production to 4-5 million tonnes per annum of iron ore by combining Wilcherry Hill magnetite concentrate with the DSO product.

Stage Three includes the exploration and development of the joint venture’s Hercules Project, which has an Indicated and Inferred JORC Resource of 198 million tonnes and is expected to increase output from Ironclad’s operations to 10-12 million tonnes per annum by 2015.

IronClad is expecting to secure debt financing through Australian and international financial institutions over the next few months.

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Thu, 22 Mar 2012 09:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146780/ironclad-mining-cash-boost-to-support-maiden-iron-ore-production-at-wilcherry-hill-26769.html
<![CDATA[News - IronClad Mining targets near surface DSO as a prelude to production at Wilcherry Hill ]]> http://www.proactiveinvestors.com.au/companies/news/146779/ironclad-mining-targets-near-surface-dso-as-a-prelude-to-production-at-wilcherry-hill-26441.html IronClad Mining (ASX: IFE) has begun a 2,000 metre grade control drilling program at the Wilcherry Hill iron ore project on the upper Eyre Peninsula.

The drilling is focused on the Weednanna deposit where mining will begin and will target the near surface direct shipping ore.

The program is designed to define a detailed grade control model focusing on the first six months of production and will further optimise scheduling and detailed mine planning.

Stage One of the Wilcherry Hill project is on target to begin maiden production in the current March quarter, with inaugural exports to be achieved in the June quarter of this year.

The significance of nearing production at Wilcherry Hill is cashflows from the project will be able to support Feasibility Studies on IronClad’s massive Hercules project, situated about 15 kilometres east of Wilcherry Hill.


Wilcherry Hill – rapid advance towards cash flow

IronClad is expecting to export about 1 million tonnes in its first full year of production, increasing to 2 million tonnes in its second year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

Additionally, 50% of the forecast production for year’s three and four has been contracted through an offtake agreement with Hong Kong-based company New Page Investments.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

Stage Two plans to increase production to 4-5 million tonnes per annum of iron ore by combining Wilcherry Hill magnetite concentrate with the DSO product.

Stage Three includes the exploration and development of the joint venture’s Hercules Project, which has an Indicated and Inferred JORC Resource of 198 million tonnes and is expected to increase output from Ironclad’s operations to 10-12 million tonnes per annum by 2015.

IronClad is expecting to secure debt financing through Australian and international financial institutions over the next few months.


Environmental Bond

IronClad has also posted the South Australian Government’s A$5.8 million environmental bond, meeting yet another milestone as it gets closer to production.

“The posting of the environmental bond, grade control drilling and ongoing site clearance work are key milestones on the road to achieving planned development and production targets” managing director Wayne Richards said.

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Thu, 15 Mar 2012 09:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146779/ironclad-mining-targets-near-surface-dso-as-a-prelude-to-production-at-wilcherry-hill-26441.html
<![CDATA[News - IronClad Mining highly sought by investors, raises further A$4m to advance Wilcherry Hill ]]> http://www.proactiveinvestors.com.au/companies/news/146778/ironclad-mining-highly-sought-by-investors-raises-further-a4m-to-advance-wilcherry-hill-26028.html IronClad Mining (ASX: IFE) has raised even more funds to support ongoing development of the Wilcherry Hill iron ore mine on South Australia’s Eyre Peninsula, indicating the strong backing the company has from investors.

Due to high demand for IronClad shares, the company has placed a further A$4 million with Australian and overseas institutional and professional investors at $0.85 per share.

Investors are seeing the value in this company as it prepares to become the second smaller mining company to move into production in South Australia.

Stage One of the Wilcherry Hill project is on target to begin maiden production in the current March quarter, with inaugural exports to be achieved in the June quarter of this year.

The significance of nearing production at Wilcherry Hill is cashflows from the project will be able to support Feasibility Studies on IronClad’s massive Hercules project, situated about 15 kilometres east of Wilcherry Hill.

This latest equity raising takes IronClad’s overall raising in recent months to more than $13 million.

Importantly, this amount should increase further with options expiring at the end of March likely to be exercised, potentially realising a further $12 million – bringing the total raised to more than $25 million.

Chairman Ian Finch said the continued success of IronClad’s capital raising program was being driven by strong local and international investor demand as development of the Wilcherry mine continues apace.

He said the $4 million from the most recent equity raising would be used to accelerate start-up works at the emerging mine.

“The high level of interest and support we are attracting from enthusiastic institutional and professional investors is most welcome to the company and its mine development program,” Finch said.

“Among other things it has enabled us to pay the South Australian Government a $5.8 million environmental bond for our proposed mine, which continues to march towards maiden production.

The $4 million share placement was organised by Cygnet Capital which was also involved in IronClad’s successful $3 million share placement in February this year.


Wilcherry Hill – rapid advance towards cash flow

IronClad is expecting to export about 1 million tonnes in its first full year of production, increasing to 2 million tonnes in its second year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

IronClad is expecting to secure debt financing through Australian and international financial institutions over the next few months.


Former Brockman Resources MD Leads IronClad

In early February IronClad appointed former Brockman Resources (ASX: BRM) managing director and BHP Billiton (ASX: BHP) senior executive Wayne Richards to head up the company.

Among his accomplishments, Richards was most recently managing director of ASX-listed Brockman Resources, whose principal project – the Marillina iron ore project in Western Australia’s Pilbara region – expanded significantly during his four years with the company.

Prior to that, he held a senior executive position with BHP Billiton’s Iron Ore Division, with responsibility for integrating projects across BHP’s three iron ore business sectors – mine, port and rail. 

“Our new managing director, former Brockman Resources head Wayne Richards, commenced work with us last week, and has hit the ground running, driving development of the project,” Finch said.

During Richards’ tenure with Brockman, he grew the company from an exploration company with a market capitalisation of $30 million to close to $1 billion in just four years.

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Tue, 06 Mar 2012 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146778/ironclad-mining-highly-sought-by-investors-raises-further-a4m-to-advance-wilcherry-hill-26028.html
<![CDATA[News - IronClad Mining well supported by market as it nears cashflow from Wilcherry Hill ]]> http://www.proactiveinvestors.com.au/companies/news/146777/ironclad-mining-well-supported-by-market-as-it-nears-cashflow-from-wilcherry-hill-25525.html IronClad Mining (ASX: IFE) continues to attract the investors with its share price up 11.77% to A$0.95 in intra-day trade today on the exchange of 133,243 shares.  

Investors are seeing the value in this company as it prepares to become the second smaller mining company to move into production in South Australia.

Reinforcing the value of IronClad’s advanced iron ore project in South Australia, Wilcherry Hill, is the recent $3 million backing the company received to fund the project’s development.

The funds were raised from the placement of 3.5 million shares at $0.85 each to a number of sophisticated Australian investors to contribute to the payment of a $5.8 million environmental bond to the South Australian Government.

Importantly, IronClad could also be in line for a further $11 million at the end of March, with options in the company likely to be exercised.

Stage One of the Wilcherry Hill project is on target to begin maiden production in the current March quarter, with inaugural exports to be achieved in the June quarter of this year.

IronClad is expecting to secure debt financing through Australian and international financial institutions over the next few months.

The significance of nearing production at Wilcherry Hill is cashflows from the project will be able to support Feasibility Studies on IronClad’s massive Hercules project, situated about 15 kilometres east of Wilcherry Hill.

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Mon, 20 Feb 2012 16:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146777/ironclad-mining-well-supported-by-market-as-it-nears-cashflow-from-wilcherry-hill-25525.html
<![CDATA[News - IronClad Mining receives strong investor backing for $3m capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/146776/ironclad-mining-receives-strong-investor-backing-for-3m-capital-raising--25382.html
IronClad Mining (ASX: IFE) has raised a further $3 million to fund development of its Wilcherry Hill iron ore project in South Australia.

The funds were raised from the placement of 3.5 million shares at $0.85 each to a number of sophisticated Australian investors.

Importantly, IronClad has the potential to attract further investment as the company becomes the second smaller mining company to move into production in South Australia.

The company could be in line for a further $11 million at the end of March, with options in IronClad likely to be exercised.

Non-executive chairman Ian Finch said the funds from this capital raising, together with other cash the company already has, will be used to pay the South Australian Government’s environmental bond for Wilcherry Hill, which remains on target to commence maiden production in the current March quarter.

“Since a number of the ‘early works’ capital costs have already been spent – including construction of our $5 million accommodation village at nearby Kimba – most of the requirements for Stage One of the project have now been achieved,” he said.

“Debt financing through Australian and international financial institutions is expected to be in place over the next few months.

“This will allow us to fast track the next stage of our project – the designing and construction of the gravity circuit.

“It will also allow us to commence Feasibility Studies on our massive Hercules project, in close proximity to Wilcherry Hill, which is the long term future of the company.”

The $3 million capital raising follows close on the heels of a A$6 million investment in IronClad from Hong Kong-based investor New Page Investments.

The money is being used to finance start-up works at the Wilcherry Hill site, which were scheduled to begin in late January.


Maiden Iron Ore Production

Finch said Stage One of the Wilcherry Hill project is on target to begin maiden production in the current March quarter, with inaugural exports to be achieved in the June quarter of this year.

IronClad is expecting to export about 1 million tonnes in its first full year of production, increasing to 2 million tonnes in its second year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

Stage Two involves an increase in production to 5 million tonnes of iron ore concentrate per annum

The company is targeting an increase in production to between 10 and 12 million tonnes per annum by 2016.

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Thu, 16 Feb 2012 11:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146776/ironclad-mining-receives-strong-investor-backing-for-3m-capital-raising--25382.html
<![CDATA[News - IronClad Mining: halt granted pending capital raising to fund commencement of production ]]> http://www.proactiveinvestors.com.au/companies/news/146775/ironclad-mining-halt-granted-pending-capital-raising-to-fund-commencement-of-production-25275.html IronClad Mining (ASX: IFE) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.

IronClad said the funding will be used for the commencement of production at its magnetite iron joint venture in Australia.

Earlier in the month IronClad announced that a offtake agreement for iron ore from its Wilcherry Hill project had been secured, with the four deal for up to 50% of annual iron ore production from the project.

Wilcherry Hill is on track for maiden production in the March quarter of 2012.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 16 February.

 

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Tue, 14 Feb 2012 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146775/ironclad-mining-halt-granted-pending-capital-raising-to-fund-commencement-of-production-25275.html
<![CDATA[News - IronClad Mining shares continue to soar on back of substantial offtake agreement ]]> http://www.proactiveinvestors.com.au/companies/news/146774/ironclad-mining-shares-continue-to-soar-on-back-of-substantial-offtake-agreement--25044.html IronClad Mining (ASX: IFE) has made the list of top ASX gainers today with a share price increase of 12.2% to A$0.92.

The company has been on an upwards share price trajectory since announcing it had secured a significant offtake agreement for iron ore from its Wilcherry Hill project in South Australia early this month.

The four year offtake agreement with Hong Kong-based resources industry investment group New Page Investments is for up to 50% of annual iron ore production from Wilcherry Hill.

Last month IronClad secured a $6 million investment from New Page Investments which will be used to finance start-up works at the Wilcherry Hill site.

Wilcherry Hill is on track for maiden production in the March quarter of 2012, with the first shipment of iron ore to be exported to Chinese customers in the June quarter.

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Wed, 08 Feb 2012 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146774/ironclad-mining-shares-continue-to-soar-on-back-of-substantial-offtake-agreement--25044.html
<![CDATA[News - IronClad Mining snags former Brockman Resources MD to lead the company ]]> http://www.proactiveinvestors.com.au/companies/news/146773/ironclad-mining-snags-former-brockman-resources-md-to-lead-the-company--24909.html IronClad Mining (ASX: IFE) has appointed former Brockman Resources (ASX: BRM) managing director and BHP Billiton (ASX: BHP) senior executive Wayne Richards to head up the company.

Richards will join the company as managing director on 1 March to spearhead development of the Wilcherry Hill iron ore project on South Australia’s Eyre Peninsula.

Among his accomplishments, Richards was most recently managing director of ASX-listed Brockman Resources, whose principal project – the Marillina iron ore project in Western Australia’s Pilbara region – expanded significantly during his four years with the company.

Prior to that, he held a senior executive position with BHP Billiton’s Iron Ore Division, with responsibility for integrating projects across BHP’s three iron ore business sectors – mine, port and rail.

“We pursued Wayne for the position given his extensive iron ore and corporate experience, including mine to market knowledge, as well as his outstanding track record of getting projects developed,” IronClad Mining executive chairman Ian Finch said.

“During his tenure at Brockman, he grew the business from an exploration company with a market capitalisation of A$30 million to close to A$1 billion in just four years.”

Richards said IronClad has the strategic advantage of being the first direct shipping ore magnetite producer and exporter in the world, with a significant opportunity to expand the business both organically and via potential future corporate activities.

“Whilst our initial focus will be on early stage mining at Wilcherry Hill and the transportation of iron ore to the Lucky Bay port facility, our principle focus will be to grow the business from one to 10 million tonnes per annum, and position the company as a future Top 150 ASX-listed company,” he said.

Maiden production from the mine is due to begin in the current March quarter, with the first shipment of iron ore on track to be exported to Chinese customers in the June quarter.

Last month IronClad secured a $6 million investment from Hong Kong-based investor New Page Investments which will be used to finance start-up works at the Wilcherry Hill site.

New Page Investments is the major shareholder in China-based global steel trading, distribution, processing and manufacturing company Novo Group, which is dual-listed on the Hong Kong and Singapore stock exchanges, and already has investments in the Australian iron ore industry.
 
IronClad has the potential to attract further investment as the company becomes the second smaller mining company to move into production in South Australia.

Importantly, the first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

Following Richards' appointment, Finch will now assume the role of non-executive chairman.

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Mon, 06 Feb 2012 09:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146773/ironclad-mining-snags-former-brockman-resources-md-to-lead-the-company--24909.html
<![CDATA[News - IronClad Mining offtake agreement secures half of Wilcherry Hill annual iron ore production ]]> http://www.proactiveinvestors.com.au/companies/news/146772/ironclad-mining-offtake-agreement-secures-half-of-wilcherry-hill-annual-iron-ore-production-24787.html IronClad Mining (ASX: IFE) has secured a significant offtake agreement for iron ore from its Wilcherry Hill project in South Australia.

The four year offtake agreement with Hong Kong-based resources industry investment group New Page Investments is for up to 50% of annual iron ore production from Wilcherry Hill.

In January 2012, New Page took a $6 million share placement in IronClad, to finance start-up works at the Wilcherry Hill site. This equates to a 9.02% interest in IronClad.

This latest offtake agreement follows a similar but separate offtake agreement signed with a Singaporean trading company in 2011.

IronClad executive chairman Ian Finch said the new offtake agreement paved the way for heightened construction activity at the mine.

“Under the terms of the new agreement, New Page Investments must pay IronClad 95% of the agreed value of iron ore leaving via ship from our Lucky Bay port facility, within 30 days of that ship departing,” he said.

“It is another most welcome development for IronClad and its shareholders.”

On track for iron ore production

Wilcherry Hill is on track for maiden production in the March quarter of 2012, with the first shipment of iron ore to be exported to Chinese customers in the June quarter.

The first two years of production from Stage One of mining has been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

The first year of production involves 1 million tonnes per annum of direct shipping ore for export to Asia, increasing up to 2 million tonnes per in the second year.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

Stage Two involves an increase in production to 5 million tonnes of iron ore concentrate per annum.

Wilcherry Hill is a joint venture operation between IronClad (80%) and its associated company, Trafford Resources (ASX: TRF) (20%).

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Thu, 02 Feb 2012 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146772/ironclad-mining-offtake-agreement-secures-half-of-wilcherry-hill-annual-iron-ore-production-24787.html
<![CDATA[News - IronClad Mining attracts $6m investment from Hong Kong based investor ]]> http://www.proactiveinvestors.com.au/companies/news/146771/ironclad-mining-attracts-6m-investment-from-hong-kong-based-investor--24013.html IronClad Mining (ASX: IFE) has secured a A$6 million investment from Hong Kong-based investor New Page Investments which will be used to finance start-up works at the Wilcherry Hill site, due to begin later this month.

The funds were raised through a placement of 7.5 million shares at $0.80 per share, which represents a 20% premium on the closing price of $0.665 on 10 January 2012.

The shareholding gives New Page Investments a 9.02% interest in IronClad.

New Page Investments is the major shareholder in China-based global steel trading, distribution, processing and manufacturing company Novo Group, which is dual-listed on the Hong Kong and Singapore stock exchanges, and already has investments in the Australian iron ore industry.

IronClad has the potential to attract further investment as the company becomes the second smaller mining company to move into production in South Australia.

Commenting on the placement, executive chairman Ian Finch said, “The successful conclusion of this share placement marks another significant milestone in what will be a defining year for the company and its shareholders, and in the development of our Wilcherry Hill asset.”

The share placement follows close on back of the South Australian Government’s recent formal approval for IronClad’s Program for Environmental Protection and Rehabilitation – the final statutory hurdle for the project.

IronClad is close to formalising another offtake agreement for production from the Wilcherry Hill project on South Australia’s Eyre Peninsula.

Finch said negotiations for the additional offtake agreement are expected to be finalised later this week and will involve 50% of all iron ore produced by the IronClad-Trafford Resources joint venture in the first four years of operations.


Iron Ore Production

Maiden production from the mine is due to begin in the current March quarter, with the first shipment of iron ore on track to be exported to Chinese customers in the June quarter.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

First year of production involves 1 million tonnes per annum of direct shipping ore for export to Asia, increasing up to 2 million tonnes per in the second year.

A Feasibility Study for Stage One of the project established that, with an average iron ore price of $140 per tonne free on board (net of freight charges) into China and initial operating costs of around $85 per tonne, the project would provide IronClad with margins of $50 per tonne and an operating cash flow of around $80 million per year at full production during the first stage.

Stage Two involves an increase in production to 5 million tonnes of iron ore concentrate per annum

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Wed, 11 Jan 2012 09:17:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146771/ironclad-mining-attracts-6m-investment-from-hong-kong-based-investor--24013.html
<![CDATA[News - IronClad Mining substantial shareholder bumps up stake ]]> http://www.proactiveinvestors.com.au/companies/news/146770/ironclad-mining-substantial-shareholder-bumps-up-stake-23826.html IronClad Mining (ASX: IFE) substantial shareholder Trafford Resources (ASX: TRF) has increased its shareholding in the company to 37%.

Trafford Resources upped its shareholding from 36.38% with the purchase of a further 475,000 shares for a consideration of A$285,925.25.

IronClad is well positioned at the moment with its approach towards first iron ore production from its Wilcherry Hill mine in the March quarter.

Work will start later this month on IronClad’s Wilcherry Hill deposits near Kimba on South Australia’s Eyre Peninsula.

The Wilcherry Hill iron ore project – an 80:20 Joint Venture between IronClad and associated company Trafford Resources – will ship direct shipping ore for sale to Chinese steel mills in the second quarter of the 2012 calendar year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

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Thu, 05 Jan 2012 11:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146770/ironclad-mining-substantial-shareholder-bumps-up-stake-23826.html
<![CDATA[News - IronClad Mining on track to produce iron ore in March quarter ]]> http://www.proactiveinvestors.com.au/companies/news/146769/ironclad-mining-on-track-to-produce-iron-ore-in-march-quarter-23716.html IronClad (ASX: IFE), with key infrastructure and mining contracts signed for Australia's next producing iron ore mine at Wilcherry Hill, is on track to produce first ore in the current March quarter. 

Work will start later this month on IronClad Mining’s Wilcherry Hill deposits near Kimba on SA’s Eyre Peninsula.

The Wilcherry Hill iron ore project – an 80:20 Joint Venture between IronClad and associated company, Trafford Resources (ASX: TRF) will ship Direct Shipping Ore (DSO) for sale to Chinese steel mills in the second quarter of the 2012 calendar year.

The first two years of production from Stage One of the Wilcherry Hill project has already been sold to the Chinese steel mills under a comprehensive sales contract and marketing agreement.

First year of production involves one million tonnes per annum of DSO for export to Asia, increasing up to 2 million tonnes per in the second year.

A feasibility study for Stage One of the project established that, with an average iron ore price of A$140 per tonne FOB (net of freight charges) into China and initial operating costs of around A$85 per tonne, the project would provide IronClad with margins of A$50 per tonne and an operating cash flow of around A$80 million per year at full production during the first stage.

Stage Two involves an increase in production to 5 million tonnes of iron ore concentrate per annum.

The construction start-up follows the South Australian Government’s Christmas Eve announcement of formal approval for IronClad’s Program for Environmental Protection and Rehabilitation (PEPR) – the final statutory hurdle for the project.

South Australian Mineral Resources and Energy Minister, Tom Koutsantonis, said the new mine would pave the way for the creation of 150 jobs and more than $340 million in investment in the region.

IronClad Mining’s executive chairman, Mr Ian Finch, said the Company remained on track to commence maiden production from the mine in the current March quarter, with first product to be exported to Chinese customers in the June quarter.

Floating harbour

To ship its iron ore from a holding warehouse at the site, IronClad is is developing a floating harbour about 5-10 kilometres offshore in collaboration with Sea Transport Development SA Pty Ltd.

This is beind done at Lucky Bay, near Cowell, on South Australia’s Spencer Gulf.

At the commencement of Stage 2, Cape-sized vessels with a capacity of up to 150,000 tonnes will then be loaded with iron ore from the floating harbour.

“The multi-user bulk shipping port facility allows us, initially, to transport our iron ore by road from Wilcherry Hill to the Lucky Bay site, significantly reducing our operating costs as a result of the shortened transport distance proposed in our original plans,” Finch said.

“We had originally planned to transport our ore from the mine via road to a site near Whyalla, where it was to be loaded onto rail to Port Adelaide, before being transferred to Panamax and small cape size vessels,” he said.

“Our unique floating harbour concept reduces the land transport distance from Wilcherry Hill to port from 520 kilometres to only 154 kilometres – a significant saving in time, cost and economies of scale.”

Analysis

Becoming the second smaller mining company to move into production in south Australia recently, IronClad should increasingly move onto the radars of investors.  The current valuation of around $50 million affords little or no attribution to the iron ore production to come and robust profit margins.

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Tue, 03 Jan 2012 09:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146769/ironclad-mining-on-track-to-produce-iron-ore-in-march-quarter-23716.html
<![CDATA[Media files - IronClad CEO says there's tremendous potential for shareholders ]]> http://www.proactiveinvestors.com.au/companies/stocktube/5575/ironclad-ceo-says-theres-tremendous-potential-for-shareholders-182.html Mon, 21 Nov 2011 19:09:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/5575/ironclad-ceo-says-theres-tremendous-potential-for-shareholders-182.html