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Proactive weekly mining highlights: IronRidge, Asiamet, Rockfire, Caledonia Mining...

Published: 17:00 11 Aug 2018 AEST

lithium

IronRidge Resources Limited (LON:IRR) has announced a high-priority lithium pegmatite target at the Apam West licence in Ghana, West Africa.

The soil anomaly, known as the Hweda target, has been defined over a 1.8km strike within the Apam West licence, which is a part of the broader Cape Coast lithium portfolio.

The target has a similar threshold of more than 500 parts per million lithium as the Ewoyaa Lithium pegmatite project, details of which were published at the end of May.

Copper explorer Asiamet Resources Limited (LON:ARS) said the bankable feasibility study for its BKM project in Kalimantan will be delivered by the end of September.

Original scheduled for mid-year, optimisation of the mine plan is almost complete with key inputs being finalised the junior said in a statement.

It also reported further “excellent” results from the current infill and extension drilling program being undertaken at the company's 80%-owned Beutong copper project in Indonesia.

The AIM-listed firm said strong mineralisation has been confirmed, extending beyond the 2014 resource envelope in all holes completed thus far.

Rockfire Resources PLC (LON:ROCK) has successfully raised £405,000 through a share placing to fund its accelerated exploration plans during the remainder of 2018.

The gold, copper and silver explorer said it had placed 30mln new ordinary shares at a price of 1.35p each. It said 10mln of the new shares would be available on a “one warrant for three shares subscribed basis”, exercisable at 2.30p each up to and including October 16, 2019.

Caledonia Mining Corporation PLC (LON:CALE) has told investors that gold output was marginally higher than the first quarter of 2018, in line with expectations.

Nonetheless, it came despite difficult operational circumstances.

The Zimbabwe-focused gold miner said it produced 12,657 ounces – up 1.1% from the 12,521 ounces in the same three months last year – while for the six months, the tally came to 25,582 ounces.

Mkango Resources Ltd (LON:MKA) has updated on a major diamond drilling programme at its Songwe Hill Rare Earths project in Malawi.

The AIM-listed miner said a total of 6,558m of drilling had been completed as of August 8, comprising 52 drill holes to a maximum depth of around 220 metres, with multiple zones of carbonatite, the primary host rock for rare earth mineralisation at Songwe, being intersected.

Rainbow Rare Earths Ltd (LON:RBW) has signed a cooperation agreement with TechMet Limited to fund a Definitive Feasibility Study (DFS) for downstream rare earth separation.

The rare earth metals miner said it would form a joint venture with TechMet to undertake the DFS, which would be fully funded by TechMe, following an initial scoping exercise on a reimbursable carry basis of up to US$3mln.

Alba Mineral Resources PLC (LON:ALBA) said the Brockham Oil Project has been granted planning approval by the Surrey County Council.

In a statement, the AIM-listed firm said Angus Energy PLC (LON:ANGS), the operator of the Brockham project, was notified that approval was granted for the retention of the BR-X4 well, the regularisation of the BR-X4Z side-track, and the appraisal of BR-X4Z at the Brockham Oil Field.

Galantas Gold Corp (LON:GAL) has told investors that the Omagh mine’s gold processing plant has now started operations, from the underground development of the Kearney gold vein.

The plant was recently upgraded, so it’s expected to operate part-time until late 2018 or early 2019 when stoping (bulk mining) begins.

African Battery Metals PLC (LON:ABM) has agreed two acquisitions, picking up stakes in private companies Cobalt Blue Holdings Inc (CBH) and Regent Resources Interests Corp (RRIC), which own highly prospective cobalt-nickel exploration assets in Cameroon and Cote d'Ivoire.

The company said the deals will diversify its geopolitical and commodity exposure.

CBH has four prospecting licences in Cameroon, while RRIC has the right to acquire 70% of the Lizetta II cobalt, chrome and nickel project in Cote d'Ivoire.

AfriTin Mining Ltd (LON:ATM) has highlighted the initial success of its new exploration efforts, which coincide with the group’s primary focus, which is to deliver a pilot plant and advance towards the definitive feasibility phase of the project.

It highlighted that exploration work in Namibia has, to date, identified more than 180 pegmatite bodies in the ML134 mining license area, which would be within as little as five kilometres from the plant location.

Landore Resources Ltd (LON:LND) has unveiled a new estimate of the BAM gold deposit’s mineral resource, based on fieldwork conducted between 2015 and 2017.

It has estimated some 623,000 ounces of contained gold, in 18.58mln tonnes of mineralization grading 1.04 grams per tonne.

The estimate comprises 486,000 ounces in the higher confidence ‘indicated’ resource category.

Thor Mining PLC (LON:THR, ASX:THR) shareholders at Hawkstone Mining Limited (ASX:HWK) have approved the company’s acquisition of Thor’s interest in USA Lithium Pty Ltd.

The miner said it expects to be issued around 7.81mln shares in Hawkstone, and will return 5% of the disposal proceeds to Pembridge Resources PLC (LON:PERE), from whom Thor acquired the interest originally.

Vast Resources PLC (LON:VAST) believes it is nearing an important administrative milestone in Romania.

In a stock market statement, Vast told investors that the company’s 80% owned AFCR subsidiary, alongside its state-backed partner, has now submitted a joint formal application to Romania’s National Agency for Mineral Resources for an association licence.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

9 hours, 14 minutes ago