Proactiveinvestors Australia

Syndicated Metals freshens up, appoints new mining executives and rattles tin for A$1m

Tue, 20 Mar 2012 17:54:00 +1100

Syndicated Metals (ASX: SMD) is undergoing a board and management restructure with the appointment of three experienced mining executives to spearhead the company’s next stage of growth and development.

Peter Langworthy has been appointed non-executive chairman, Andrew Munckton will fill the managing director’s seat following Russell Davis’ resignation, and David Morgan will join the company as operations director.

Langworthy is the former executive general manager – exploration of Jubilee Mines, where he played a key role in the discovery of several significant nickel sulphide orebodies at the Cosmos Nickel Project in Western Australia.

He was part of the executive management team that led the company until its takeover by Xstrata (LSE: XTA) for more than A$3 billion.

Most recently Langworthy was technical director at Talisman Mining (ASX: TLM) and has also been a non-executive director at Northern Star Resources (ASX: NST).

Meanwhile, Munckton was most recently managing director of Avalon Minerals (ASX: AVI), where he played a key role in securing the Viscaria Copper Project in Sweden, and led the exploration and project teams that progressed the project through to a Bankable Feasibility Study.

Morgan most recently managed the Pre-Feasibility Study for Sundance Resources’ (ASX: SDL) Mbalam Iron Ore Project in Cameroon and, prior to that, was general manager – operations at Equigold’s Mt Rawdon Gold Mine in Queensland.

The new board and management will be responsible for implementing a re-energised strategy for exploration, resource assessment and resource development within Syndicated Metals’ portfolio of copper-gold projects in north Queensland.

The company controls around 4000 square kilometres of tenements in the region, which includes advanced projects and near term development options with Scoping Studies underway.

Syndicated Metals’ Kalman deposit, which is an advanced molybdenum-rhenium and copper-gold deposit covering 700 square kilometres in the mineral-rich Mt Isa region, has the potential to be a company-maker.

The Kalman deposit hosts a JORC Resource of 60.8 million tonnes at 0.32% copper, 0.05% molybdenum, 1.19 grams per tonne (g/t) rhenium and 0.15g/t gold, which is currently under review.

The deposit contains sizeable targets which offer substantial exploration upside.

Last month, Syndicated Metals discovered some clusters of near surface high grade copper-gold values at the Kalman deposit.

Highlight intersections returned 22 metres at 0.84% copper and 1.31g/t gold from 37 metres (1.65% copper equivalent), including 9 metres at 1.3% copper and 2.87g/t gold (2.9% copper equivalent).

The 2011, 10-hole reverse circulation drilling program covered the southern end of the deposit, located above deep high grade intersections from previous drilling that included 9 metres at 20% copper.

Share Placement

Syndicated Metals is also planning to undertake a A$1 million placement to support the company’s ongoing exploration activities in north Queensland.

The company will issue around 13.5 million shares at $0.074 to sophisticated and professional investors.

For every two new shares subscribed for, Syndicated Metals will issue one free attaching option.

Syndicated Metals in pre open pending company restructure announcement

Tue, 20 Mar 2012 10:30:00 +1100

Syndicated Metals (ASX: SMD) has been granted a trading halt by the ASX pending the release of details on a company restructure.

Syndicated has not as yet provided any further details, but the company certainly has some very interesting landholdings strategically located in the Mount Isa minerals province.

The company controls around 4000 square kilometres of tenements in the region, which includes advanced projects and near term development options with scoping studies underway

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Thursday 22 March.

Syndicated Metals substantial shareholder bumps up holding

Fri, 09 Mar 2012 13:50:00 +1100

Syndicated Metals (ASX: SMD) substantial shareholder National Health Recovery Agents has increased its stake in the company to 7.18%.

National Health has taken up 2.7 million new Syndicated shares between December 14, 2011 and March 7, 2012, taking its total holding to 8.8 million shares from 6.1 million.

The shares were purchased at an average price of $0.081 each.

Last month Syndicated Metals had success at the Kalman molybdenum-rhenium and copper-gold deposit, discovering high grade copper-gold at the deposit and uncovering high grade manganese nearby.

The Kalman deposit covers 700 square kilometres in Queensland’s mineral-rich Mt Isa region.

Results from a ten hole reverse circulation drilling program intersected clusters of high grade copper-gold mineralisation close to the surface at Kalman.

Peak assays from the program included 22 metres at 0.84% copper and 1.31 grams per tonne (g/t) gold from 37 metres (1.65% copper equivalent), including 9 metres at 1.3% copper and 2.87g/t gold (2.9% copper equivalent).

The latest intersections, situated in the southern end of the deposit, lie above deep high grade intersections from previous drilling.

Meanwhile, high grade manganese of up to 45 metres at 23% has been identified from rock chip sampling at the Manganese Ridge prospect, 400 metres from Kalman.

Another highlight from the rock chip sampling program was 10 metres at 34% manganese.

Syndicated Metals copper gold intersections continue at Kalman near Mt Isa

Mon, 06 Feb 2012 14:45:00 +1100

Results are in from the 2011 drilling program which Syndicated said confirm the potential for a substantial near surface mineral resource at Kalman, which is strategically located 60kms from Mount Isa and is well serviced by major infrastructure.

Syndicated Metals discovers broad intersections of high grade manganese near Kalman in Mt Isa

Wed, 01 Feb 2012 10:50:00 +1100

Syndicated Metals (ASX: SMD) has uncovered high grade manganese of up to 45 metres at 23% from rock chip sampling at the Manganese Ridge prospect located 400 metres from the Kalman copper-gold-molybdenum-rhenium deposit in Northwest Queensland.

Kalman is situated 60 kilometres to the southeast of the major mining centre of Mount Isa.

Further highlights of the rock chip sampling included one peak 10 metre sample at 34% manganese.

Managing director Russell Davis said while the search for manganese is not Syndicated’s priority, its close proximity to Kalman, the prominent outcropping nature of the mineralisation and potentially significant tonnage potential indicated that the area warranted some investigation.

“The encouraging results from the initial rock chip sampling support this view,” he said.

“There are clearly thicker and higher grade sections within the six kilometre strike length and these areas will be the target of follow up work to identify near surface bodies of economically recoverable manganese oxide ore.”

Another plus for the Manganese Ridge prospect is its favourable location in relation to mining infrastructure, including a railway line, and the nature of the occurrence of the mineralisation on a prominent ridge which would reduce any stripping required.

A total of 78 rock chip samples were collected along 31 lines. The average line width was 30 metres with a length weighted average of 13% manganese.

24% of the samples have manganese grades in excess of 20%, and 37% in excess of 15%.

Three holes drilled for base metals to around 150 metres vertical depth below the manganese rich outcrops returned lower order manganese values (>5%) within the sediments indicating the high (>20%) manganese values from the rock chip sampling are probably a result of enrichment within the near surface oxidised zone.

The near surface zone has not previously been tested by drilling and further exploration for potentially economic material should focus in this area.

This latest discovery at Manganese Ridge further confirms the multi-metal mineral potential of the immediate Kalman area, which includes Kalman (copper-gold-molybdenum-rhenium), Andy’s Hill (copper-gold and rare earth elements), Pandora’s Gift (copper-gold) and Manganese Ridge (manganese).

Just last week Syndicated unearthed consistent high grade copper-gold mineralisation over 900 metres of strike from rock chip sampling along the Pindora Fault, 5 kilometres to the southeast of the Kalman deposit.

Kalman is an advanced molybdenum-rhenium and copper-gold deposit covering 700 square kilometres in the mineral-rich Mt Isa region.

A review of the existing 60.8 million tonnes at 0.32% copper, 0.05% molybdenum, 1.19 grams per tonne (g/t) rhenium and 0.15g/t gold JORC Resource is currently underway.

Importantly, the Kalman deposit has the potential to be a company maker for Syndicated with its significant exploration potential as a result of its sizeable targets.

Syndicated Metals unearths new 900m long copper, gold trend near Kalman in Mt Isa

Wed, 25 Jan 2012 14:20:00 +1100

Syndicated Metals (ASX: SMD) has discovered consistent high grade copper-gold mineralisation over 900 metres of strike from rock chip sampling along the Pindora Fault, 5 kilometres to the southeast of the Kalman deposit located in the Mount Isa region of Northwest Queensland.

The Kalman deposit is an advanced molybdenum-rhenium and copper-gold deposit covering 700 square kilometres in the mineral-rich Mt Isa region.

A review of the existing 60.8 million tonnes at 0.32% copper, 0.05% molybdenum, 1.19 grams per tonne (g/t) rhenium and 0.15g/t gold JORC Resource at Kalman is currently underway.

Importantly, the Kalman deposit has the potential to be a company maker for Syndicated with its significant exploration potential as a result of its sizeable targets.

Thirty two samples were collected within EPM13870, with 10 contiguous samples taken over the strike length returning strongly anomalous copper and gold averaging 0.6 grams per tonne (g/t) gold and 3% copper at what is known as the Pandora’s Gift prospect.

The Pindora Fault is sub-parallel to the Pilgrim Fault zone which hosts the Kalman molybdenum-rhenium and copper-gold deposit as well as a range of other base metal and gold targets.

The Pindora Fault zone can be traced at surface within Syndicated tenements for approximately 10 kilometres.

Sampling was carried out a nominal 100 metre centres along the northern 2.5 kilometre section of the fault within EPM13870, which is within the Kalman Joint Venture with Cerro Resources (ASX: CJO).

The Pindora copper mine is located about 3 kilometres north of the tenement boundary within the Pindora Fault.

Visible oxide copper mineralisation (malachite) has also been mapped along the southern strike extension of the fault as far as Syndicated’s Dronfield copper-gold prospect within the wholly owned EPM13869. This zone has yet to be sampled in detail.

The mineralised fault zone is believed to hold substantial potential to yield shallow copper-gold mineralisation to further augment resources at the nearby Kalman deposit, as well as being prospective for major discoveries at depth.

Syndicated Metals plans to undertake further sampling in the forthcoming field season.

Syndicated Metals extends share issue pending new results from Kalman

Wed, 18 Jan 2012 15:20:00 +1100

Syndicated Metals (ASX:SMD) has extended the closing date of its share purchase plan until after it has received assays from drilling completed at the Kalman project in mid-December, as well as results of other sampling in the Kalman area.

The share purchase plan, which is being offered at $0.085 per share with existing shareholders able to apply for up to $15,000 worth of Syndicated shares, will now close on Friday 10 February 2012.

The potential $1 million raising will be used to advance drilling on the Kalman project in northwest Queensland to define an open pittable copper-gold and molybdenum-rhenium Resource.

Syndicated previously announced it had intersected significant shallow copper, gold, molybdenum and rhenium from the first five holes at the Kalman project, confirming the open pittable potential of the zone.

Highlights included 20 metres at 0.82% copper and 0.59 grams per tonne (g/t) gold from 13 metres and 20 metres at 0.82% copper and 0.30g/t gold from 91 metres, including 7 metres at 1.42% copper and 0.45g/t gold from 97 metres.

Funds raised will also be used to drill other priority iron oxide copper-gold targets including Andy’s Hill and Yamamilla and advance the mining and environmental studies on the Mount Remarkable copper-gold deposits – Barbara, Green Zone and Blue Star.

Syndicated previously raised $902,250 through a related placement of 10,614,706 shares at $0.085 per share to continue its exploration programs in the Mount Isa region and for working capital purposes.

Syndicated Metals drilling at Andy's Hill prospective for new IOCG field in Mt Isa craton

Mon, 09 Jan 2012 09:50:00 +1100

Drilling at Andy's Hill has seen a promising start to 2012 for Syndicated with an intersected zone of copper sulphide, potentially signalling the start of a new IOCG field in the Mount Isa craton. It also enhances the prospectivity of its nearby Overlander anomaly.

Syndicated Metals welcomes substantial shareholder

Wed, 14 Dec 2011 16:49:00 +1100

Syndicated Metals (ASX: SMD) has received a vote of confidence in the company's operations from the National Health Recovery Agents, which has increased its holding in the company to 5.47% - and now becomes a substantial shareholder.

National Health spent $300,000 to acquire 3.529 million shares on December 1, 2012, for an average entry price of around $0.085.

Syndicated recently launched a capital raising and share purchase plan with the aim of boosting copper and gold exploration near Mt Isa in Queensland.

The company plans to raise $902,250 through the placement of 10.6 million shares at $0.085 per share.

A further $1 million will be targeted through a share purchase plan being offered to existing shareholders at $0.085.

Funds raised will also be used to drill other priority iron oxide copper-gold targets including Andy’s Hill and Yamamilla and advance the mining and environmental studies on the Mount Remarkable copper-gold deposits – Barbara, Green Zone and Blue Star.

Syndicated had cash reserves at the end of the September quarter 2011 of $2.3 million.

Syndicated Metals SPP to allow company to continue copper, gold exploration near Mt Isa

Tue, 06 Dec 2011 13:07:00 +1100

Syndicated Metals (ASX: SMD) is now eyeing a potential A$1 million boost to its coffers through a share purchase plan to advance drilling on the Kalman project in northwest Queensland to define an open pittable copper-gold and molybdenum-rhenium Resource.

The share purchase plan will be offered at $0.085 per share, the same price as the recently announced placement, with existing shareholders able to apply for up to $15,000 worth of Syndicated shares.

Funds raised will also be used to drill other priority iron oxide copper-gold targets including Andy’s Hill and Yamamilla and advance the mining and environmental studies on the Mount Remarkable copper-gold deposits – Barbara, Green Zone and Blue Star.

Last month Syndicated announced it would raise $902,250 through a placement of 10.6 million shares at $0.085 per share to continue its exploration programs in the Mount Isa region.

In October the company delivered a maiden JORC Resource at the Blue Star and Green Zone deposits within its Mount Remarkable Project.

Blue Star's Inferred Resource is 177,000 tonnes at 2.31% copper and 0.27 grams per tonne (g/t) gold for 4,100 tonnes of copper and 1,520 ounces of gold, while Green Zone's Inferred Resource is 430,000 tonnes at 0.9% copper for 3,860 tonnes.

Syndicated’s 2012 program will include copper resource expansion drilling on a number of targets, Scoping Studies and Mining Lease Application for the Barbara deposit, and drilling, a new resource and Scoping Studies for the Kalman polymetallic deposit.

The share purchase plan opens on 9 December 2011 and closes at 5pm (WST) on 20 January 2012.

Cash Boost

The successful completion of the share purchase plan combined with the proceeds of the earlier placement will increase Syndicated’s healthy $2.3 million cash reserves at the end of the September quarter by $1.9 million.

Syndicated Metals managing director steps up as chairman

Wed, 30 Nov 2011 12:20:00 +1100

Syndicated Metals (ASX: SMD) has appointed managing director Russell Davis as chairman, replacing Martin Pyle.

Davis is a founding director of Syndicated, and has more than 25 years experience as a geologist, working in fields such as mineral exploration, management, property acquisition, mining and development.

In addition to his role with Syndicated, Davis is a non-executive director of Gold Road Resources.

Davis will continue as managing director of Syndicated.

The company has not indicated whether Pyle will remain a part of the board.

The move comes a week after Syndicated announced plans to raise $902,250 through the placement of 10.6 million shares at $0.85 per share, to continue exploration programs in the Mount Isa region of North West Queensland and for working capital.

Of that, a total of 2.23 million shares for $190,000 will be issued to directors of the company, subject to shareholder approval.

Syndicated Metals to boost copper gold exploration near Mt Isa after $900,000 placement

Thu, 24 Nov 2011 12:10:00 +1100

Syndicated Metals (ASX: SMD) will raise A$902,250 through a placement of 10,614,706 shares at $0.085 per share to continue its exploration programs in the Mount Isa region of North West Queensland and for working capital purposes.

The Placement will be made to a range of domestic and international investors. A total of 2.23 million shares to raise $190,000 will be issued to directors of the company, subject to shareholder approval.

Russell Davis, Syndicated’s managing director, said the proceeds of the placement would allow the company to maintain the momentum of its exploration and development activities including the current drilling program at the promising Andy’s Hill copper-gold target.

Syndicated also aims to raise up to a further A$1 million through a share purchase plan (SPP) to eligible shareholders at $0.085 cents per share. The SPP will have a record date of November 23rd 2011.

Just last month the company delivered a maiden JORC Resource at the Blue Star and Green Zone deposits within its Mount Remarkable Project in Northwest Queensland.

Blue Star's Inferred Resource is 177,000 tonnes at 2.31% copper and 0.27 grams per tonne (g/t) gold for 4,100 tonnes of copper and 1,520 ounces of gold, while Green Zone's Inferred Resource is 430,000 tonnes at 0.9% copper for 3,860 tonnes of copper.

Syndicated controls tenements covering an area of over 4,000 square kilometres in the Mount Isa region. Blue Star and Green Zone are both located within the Leichhardt joint venture tenements with Mount Isa Metals (ASX: MET), where Syndicated holds 51% and management.

Syndicated is also building a significant metal resource inventory with its interests in the Barbara copper-gold deposit and the Kalman molybdenum-rhenium-copper-gold deposit, both within 60 kilometres of existing infrastructure at the Mount Isa mining centre.

Syndicated Metals in pre-open pending capital raising announcement

Wed, 23 Nov 2011 10:05:00 +1100

Syndicated Metals (ASX: SMD) has been granted a trading halt by the ASX pending the release of a proposed capital raising, with the company's shares placed in pre-open.

Syndicated has not yet indicated where the potential capital injection will be allocated, but the company is currently in a very interesting position.

Just last month the company delivered a maiden JORC Resource at the Blue Star and Green Zone deposits within its Mount Remarkable Project in Northwest Queensland.

Blue Star's Inferred Resource is 177,000 tonnes at 2.31% copper and 0.27 grams per tonne (g/t) gold for 4,100 tonnes of copper and 1,520 ounces of gold, while Green Zone's Inferred Resource is 430,000 tonnes at 0.9% copper for 3,860 tonnes of copper.

Syndicated controls tenements covering an area of over 4,000 square kilometres in the Mount Isa region. Blue Star and Green Zone are both located within the Leichhardt joint venture tenements with Mount Isa Metals (ASX: MET), where Syndicated holds 51% and management.

The halt will last until the earlier of the announcement being made to the market or the opening of trade on Friday 25 November.

Syndicated Metals to investigate Ernest Henry style iron ore copper gold target in Mt Isa region

Mon, 21 Nov 2011 13:42:00 +1100

Syndicated Metals (ASX: SMD) is all set to re-commence the 2011 drilling program at the company’s Andy’s Hill iron ore-copper-gold target in Queensland’s Mount Isa region, to investigate a strong magnetic and ground electromagnetic anomaly beneath a historical copper intersection.

The company has restarted the program after finalising the landholder access and compensation agreements required under new Queensland legislation.

Diamond drilling is underway at Andy’s Hill, to test an Ernest Henry-style iron ore-copper-gold target, and is expected to take up to four weeks.

A diamond drill hole completed in 1976 intersected 125 metres at 0.12% copper, but was believed to terminate above the deeper electromagnetic and magnetic anomalies that Syndicated plans to test.

A co-funding drilling grant from the Queensland Government has been awarded, supporting the project’s prospectivity as a prime target.

At Syndicated’s Kalman deposit, 8 kilometres east of Andy’s Hill, reverse circulation drilling will continue systematic testing of near surface copper-gold potential.

Drilling by Syndicated earlier this year returned shallow copper gold, molybdenum and rhenium results including:

- 20 metres at 0.82% copper and 0.59 grams per tonne (g/t) gold from 13 metres;
- 20 metres at 0.82% copper and 0.3g/t gold from 91 metres, including 7 metres at 1.42% copper and 0.45g/t gold from 97 metres; and
- 5 metres at 0.3% molybdenum and 10.3g/t rhenium from 81 metres.

Limited shallow drilling along the 1000 metre long surface expression by the previous operators intersected significant copper and gold intercepts, including 25 metres at 1.5% copper and 0.25 grams per tonne (g/t) gold from 38 metres.

Syndicated plans to undertake about 2000 metres of reverse circulation drilling at Kalman.

Syndicated Metals delivers initial JORC Resource for Blue Star and Green Zone copper deposits

Mon, 24 Oct 2011 09:09:00 +1100

Building on its already significant metal resource inventory in the Mount Isa region, the deposits within Syndicated's Mount Remarkable Project have potential to provide additional shallow open pit ore sources as well as add to the case for early mine development.

Syndicated Metals initial drilling hits near surface copper gold at Kalman

Wed, 14 Sep 2011 09:57:00 +1000

Drill results from the first five holes at Kalman underpin Syndicated Metals' belief in the near surface potential of the copper, gold, molybdenum and rhenium deposit in the Mount Isa region of Northwest Queensland, and confirm the open pittable potential of the zone.

Syndicated Metals to drill test Andy’s Hill IOCG target within Kalman copper molybdenum deposit

Thu, 04 Aug 2011 12:30:00 +1000

Syndicated Metals' (ASX: SMD) high priority Andy’s Hill IOCG target within the Kalman Joint Venture has been underpinned by the detection of strong electromagnetic (EM) conductors.

Adding to the lure of the target, a Queensland Government co-funding drilling grant of around $60,000 was awarded to JV partner Cerro Resources (ASX: CJO), which is estimated to be 50% of the anticipated direct drill cost.

Two anomalies were resolved by the EM survey and the data suggests that at least part of the deeper source may be a strong to very strong conductor.

The company plans to test the deeper EM conductor and magnetic anomaly with a drill hole aimed at intersecting a point more than 200 metres below the surface and is expected to commence once approvals have been finalised.

The company is currently undertaking a drill program at Kalman targeting shallow open-pittable copper-gold and molybdenum-rhenium that could assist in reaching a resource threshold that would boost the case for early mine development at Syndicated's Mount Isa projects.

Tantalisingly, five holes of a planned 25 hole program targeting shallow copper-gold mineralisation at the Kalman deposit have now been completed, with the highly anticipated results expected around the end of August.

The Andy's Hill prospect is located 8 kilometres west of the Kalman copper-gold-molybdenum-rhenium deposit within the Kalman joint venture with Cerro Resources.

The prospect comprises a zone of strong “red-rock” alteration and copper soil anomalism coincident with a strong magnetic anomaly and represents a prime iron-oxide copper-gold (IOCG) target.

A previous explorer drilled at a location between the two possible EM sources in 1976 and intersected 125 metres averaging 0.12% copper.

The company is building on its already significant metal resource inventory in the Mount Isa region where it now controls tenements covering an area of over 4,000 square kilometres.

Korea Zinc Company, through its Australian subsidiaries, holds a 13% interest in Syndicated.

Syndicated Metals snares drill ready copper gold targets adjacent to Mount Remarkable project in QLD

Wed, 13 Jul 2011 09:23:00 +1000

Today's farm in to Deep Yellow's targets near Mount Remarkable, where the Barbara copper-gold deposit is advancing towards development and a drilling program has recently commenced at Kalman, is providing Syndicated with significant momentum.

Syndicated Metals: Two directors boost stakes with on-market trades

Mon, 04 Jul 2011 16:00:00 +1000

Syndicated Metals (ASX: SMD) directors Russell Davis and Janet Hope have both increased their indirect holdings in the company through on-market trades.

Russell Davis purchased 240,000 shares at a touch over $0.15 for a consideration of $36,709, and now holds just under 6.4 million shares and 6 million options.

Janet Hope acquired 20,000 shares at $0.15 for a consideration of $3000, and now holds 720,000 shares and 2.6 million options.

Syndicated recently entered a very positive phase for the company, and last month commenced a drill program at Kalman, aimed to fast track to production.

The first results are due in August, and are targeting open-pittable copper-gold and molybdenum-rhenium mineralisation.

Under the restructured Kalman Joint Venture with Cerro Resources NL (ASX: CJO) announced in May, Syndicated can earn up to an 80% interest in Cerro’s plus 700 square kilometre Mount Isa tenements, including the Kalman polymetallic deposit, giving Syndicated control over one of the largest landholdings in the region.

Syndicated Metals to commence highly anticipated drill program at Kalman, aims to fast track to production

Fri, 24 Jun 2011 11:26:00 +1000

The drill program at Kalman targeting shallow open-pittable copper-gold and molybdenum-rhenium is highly prospective. Drill success in reaching resource threshold would boost the case for early mine development at Syndicated Metals' Mount Isa projects.

Syndicated Metals to farm-in to Kalman molybdenum-rhenium-copper-gold project

Mon, 16 May 2011 08:58:00 +1000

Syndicated Metals (ASX: SMD) will farm-in to the Cerro Resources (ASX: CJO, TSX-V: CJO) Kalman molybdenum-rhenium-copper-gold project creating a joint venture.

The outcome of the farm-in for Syndicated is that the company will control around 100 kilometres of the prospective Pilgrim Fault Zone, located in the Mount Isa region of Northwest Queensland.

Sydnciated already wholly owns tenements in the area, and post the agreement the company will control of one of the largest landholdings in the region.

Syndicated will acquire a controlling interest and management of Kalman, and can earn up to an 80% interest in two stages by equity issue and exploration expenditure.

- Stage 1: Syndicated can earn initial 60% by issuing $2 million in shares to Cerro and by spending $4 million on exploration over 2 years; and
- Stage 2: Syndicated can earn up to 80% by issuing $1 million in shares to Cerro and spending $7 million on exploration over 3.5 years.

Cerro is therefore free carried to a decision to mine, with Syndicated holding an option to purchase the remaining 20% of the mine development post this decision.

From the joint venture Syndicated can extract synergies and economies of scale with the company's current copper-gold projects in the province.

Kalman has the potential for a shallow open pit mining operation to augment Syndicated’s growing copper-gold resource at Mount Remarkable, which is expected to enhance the opportunity for early mine development.

Russell Davis, managing director of Syndicated, said the company had a strong belief in the exploration potential of the Mount Isa district and the Pilgrim Fault zone in particular.

“The potential of this zone to host additional significant mineral discoveries is considered to be outstanding."

One of the first priorities of the joint venture will be to drill out the near surface copper-gold mineralisation at the project, which Syndicated said has the potential to boost the regional copper-gold resources when combined with those at Barbara.

Syndicated has also planned additional drilling aimed at improving the definition of the high grade molybdenum, rhenium, copper, gold core at the project.

Syndicated Metals adding to potential for a mining operation at Mount Remarkable

Wed, 11 May 2011 09:30:00 +1000

Today's high grade copper at surface confirms Blue Star prospect's potential to add to Syndicated's total JORC resource base at the Mount Remarkable project, adding additional elements to move closer to a mining decision.

Syndicated Metals targeting copper gold in new Mount Remarkable drilling

Wed, 09 Mar 2011 09:59:00 +1100

Syndicated Metals (ASX: SMD) has kicked off a much anticipated drilling program in the Mount Isa province, at the company's Mount Remarkable copper-gold project.

The Mount Remarkable area is rapidly emerging as a target rich environment with the potential for open pit copper and gold resources, located around the Barbara Copper Project

The Barbara deposit is located 50 kilometres northeast of Mount Isa and is easily accessible via the main Barkly Highway and the Lake Julius Road.

The project covers 75 kilometres of strike east of Mount Isa on the road to Cloncurry.

The new diamond and reverse circulation drilling program will cover 10,000 metres, starting at the Green Zone prospect within the Leichhardt joint venture, and will then move to Barbara followed by Blue Star.

It is anticipated that results will enable initial mineral resources for both Blue Star and Green Zone to be estimated.

Mount Remarkable comprises mostly contiguous tenements covering around 1,100 square kilometres and is considered prospective for copper-gold, sediment hosted lead-zinc-silver and uranium mineralisation.

In November 2010, Runge Limited (ASX: RUL), international mining consulting group provided an upgraded resource estimate for the Barbara South and North Deposits.

The Barbara tenements have a total Indicated and Inferred Resource of; 5.33 million tonnes at 1.4% copper, 0.1 grams per tonne gold, 267 parts per million cobalt and 2.5 grams per tonne silver.

This tonnage forms; 25,000 ounces of gold, 430,000 ounces of silver, 1,400 tonnes of cobalt for a copper equivalent of 89,000 tonnes.

Syndicated’s attributable share is 75,000 tonnes of contained copper equivalent.

Mineralisation is currently defined within two adjacent ore zones known as the North and South Lodes, with additional ore potential contained between the blocks, along strike, and down dip.

Syndicated Metals: A Copper “play” left behind in copper bull market, coming in from the cold

Tue, 01 Mar 2011 09:20:00 +1100

With the price of copper soaring to over US$4.40 per pound, Syndicated Metals has not yet been part of the sector re-rating, thereby providing investors with an opportunity to buy a copper stock - at a low valuation - for now.

Syndicated Metals to raise A$3m for Mount Remarkable through placement

Wed, 01 Dec 2010 10:13:00 +1100

To continue to progress its Mount Remarkable copper gold project in the Mount Isa region of Northwest Queensland, Syndicated Metals (ASX: SMD) will look to raise A$3 million through the placement of 20 million shares at $0.15, to investors in the UK, Europe, Hong Kong and Australia.

Last month Syndicated discovered new zones of high grade copper-gold mineralisation including values up to 25% copper and 5.54 g/t gold, from sampling over the northern section of the Leichhardt–Prospector IOCG prospect within Mount Remarkable.

The placement consists of two tranches:

- Tranche 1: 10.6 million shares within the company’s 15% placement capacity; and

- Tranche 2: 9.4 million shares pending shareholder approval at a general meeting early in 2011.

Existing cornerstone shareholder, Korea Zinc, through its 100% owned Australian subsidiary Colwell Kennedy Australia Pty Ltd, will contribute to both tranches of the share placement, thereby maintaining its 14.9% interest in Syndicated.

Veritas Securities is the lead manager to the placement.

Syndicated will have a cash balance of $4.7 million if tranche two is approved by shareholders.

Syndicated Metals in trading halt pending proposed transaction

Mon, 29 Nov 2010 10:28:00 +1100

Perth-based Syndicated Metals (ASX: SMD) has requested a trading halt pending release of an announcement about a proposed transaction.

The halt will last until an announcement is made or commencement of trading on Wednesday 1st December 2010.

On November 18, rock chip sampling by Syndicated over an area to the northeast of its recent high grade Bloodwood copper-gold discovery has identified an additional new zone of high grade copper-gold mineralisation called the Ironbark prospect.

It adds yet another high priority target for drilling for Syndicated and is significant as it is located 11km from Bloodwood and 30km from SMD's Barbara copper-gold project.

Syndicated Metals finds new high grade copper gold mineralised zone nearby Barbara discovery

Thu, 18 Nov 2010 10:23:00 +1100

The new high grade Ironbark discovery from rock chip sampling adds yet another high priority target for drilling for Syndicated and is significant as it is located 11km from Bloodwood and 30km from SMD's Barbara copper-gold project.

Syndicated Metals moves closer to development options with resource upgrade at Barbara copper gold deposit

Wed, 17 Nov 2010 10:34:00 +1100

With a major boost in contained copper resource at Barbara Copper-Gold deposit, and a major drill program in 2011 to convert recent discoveries into JORC resources, Mount Remarkable has emerged from the shadows as a potential new long life mine.

Syndicated Metals encouraged by high grade copper zone extension at Bloodwood

Wed, 27 Oct 2010 07:59:00 +1100

Syndicated Metals (ASX: SMD) has extended the mineralised zone at the new Bloodwood Prospect to over 2.5 kilometres with high grade copper gold results including 17.1% copper and 6.1 g/t gold and 23.5% copper and 1.78 g/t gold being returned from prospecting and rock chip sampling.

Exploration at Bloodwood, within the Mount Remarkable Project, in is at an early stage but results to date are considered highly encouraging. The samples are also elevated in cobalt and silver.

The Mount Remarkable project area is just 20 kilometres to the northeast of SMD's Barbara copper-gold project and directly along strike from the other known Leichhardt–Prospector IOCG prospects in the mineral-rich Mount Isa region in Northwest Queensland.

The mineralised zone is located on the margins of a series of aeromagnetic anomalies interpreted to be produced in part by hydrothermal magnetite alteration.

To the south of Syndicated’s tenements, this trend hosts at least 14 significant copper prospects held by other parties, including the Leichhardt copper deposit.

Further surface prospecting and sampling along the mineralised trends at Bloodwood is currently in progress with new zones of visible copper mineralisation at surface being located.

Korea Zinc Company Ltd, through its Australian subsidiaries holds a 14.9% interest in Syndicated.

SMD has a market capitalisation of A$14.25 million and had A$3.07 million cash at the end of the June quarter. SMD shares rose 17% to 20 cents in trading this morning.

Syndicated Metals identifies copper at 25% Cu and 5.5g/t gold at Mount Remarkable

Thu, 14 Oct 2010 07:14:00 +1100

Today's high grade copper and gold samples and recent drill results are building a strong case for a stand-alone mining operation at Mount Remarkable, just 20km NE of the Barbara project.