Proactiveinvestors Australia

Elementos has produced a maiden indicated and inferred resource of 36,310 gold equivalent ounces for the Manantial vein, within the Manantiales gold-silver project. There is still exploration upside with the system remaining open along strike, north and south, as well as at depth.

Elementos has received a major vote of confidence in the company's Tamaya copper project in Chile - with strong support from existing shareholders and experienced resource investors in a $2.3 million rights issue. Patersons Securities is underwriter.

Highlighting the prospectivity of the northern Chile region which hosts Elementos’ Mercedes Project, 16 out of 23 rock chip samples assayed over 1% copper. The highlight sample returned a value of 3.8% copper. Why this is so important is it demonstrates Mercedes’ potential to emulate a number of surrounding Tier 1 mines.

The enterprise value of just A$9 million appears to have overlooked the potential of Elementos across two continents. The Mercedes project is just one example, and is positioned in one of the world’s largest copper producing regions, which hosts companies such as BHP Billiton, Rio Tinto, Barrick, Antofagasta and Codelco.

Elementos is building on its portfolio of projects with the option to acquire a 90% interest in a copper project in northern Chile, located near to a highly prospective region that hosts multi-million tonne deposits, including BHP Billiton’s Spence mine.

The completed Scoping Study for the Mansa manganese project has demonstrated positive project economics as the project moves closer to production in a matter of weeks. Budgeted costs of delivering a CIF product are between $190 and $210 per tonne, in line with its expectations.

The start of the second phase drilling at Mt Forrest iron project puts Mindax on the path to potentially expand both the iron base as well as life of the mine. Importantly, it also has promise for the proposed partnership with Hong Kong-based Perpetual Mining, that could see the company invest $52 million.

The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.

Having made inroads to access the eastern area of the high grade silver Bonanza Zone at the New Departure project in Montana, Black Mountain is on the cusp of first cash generative silver production.  

Cougar Energy has started the Phase 1 drilling program at its Mackenzie PCI grade coal tenement that will unlock the value of the asset by helping define a maiden JORC Resource.