Proactiveinvestors Australia Aus Tin Mining https://www.proactiveinvestors.com.au Proactiveinvestors Australia Aus Tin Mining RSS feed en Wed, 12 Dec 2018 12:35:17 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Aus Tin Mining shares surge after securing $2.5 million funding facility ]]> https://www.proactiveinvestors.com.au/companies/news/195431/aus-tin-mining-shares-surge-after-securing-25-million-funding-facility-195431.html Aus Tin Mining Ltd (ASX:ANW) has executed a new $2.5 million convertible security funding agreement with the Australian Special Opportunity Fund L.P, a fund managed by The Lind Partners.

The company has secured favourable terms, notably a fixed conversion price of $0.035 per share for the first 10 months representing a 105% premium to its 5‐day volume weighted average price. 

Aus Tin chief executive officer Peter Williams said “We are delighted with Lind’s continued support of the company both as shareholder and financier, and the provision of this new funding will enable us to progress each of our key projects at Granville, Taronga and Mt Cobalt. 

“The fixed conversion price of 3.5 cents per share for the next 10 months is an attractive feature of the new CSFA and provides a new benchmark for funding as achieved by the company on behalf of shareholders”.

Aus Tin is planning to use the funds to progress its activities across three key projects:

Granville Tin Project

The Granville Tin Project is located about 20 kilometres north of the historic mining town Zeehan on the west coast of Tasmania, and lies within the historic Heemskirk tin field. 

Aus Tin commenced the production of tin concentrate at Granville in August 2016.

The company will use some of the new funds to deliver Level 2 production in the coming months. 

Taronga Tin Project

The Taronga Tin Project is Aus Tin’s flagship project containing a resource of over 57,000 tonnes of contained tin, making it one of the largest undeveloped hard-rock tin projects globally.

Aus Tin is now undertaking additional work to satisfy various permit conditions and the new funds will be employed on pre‐construction activities.

The funding for the construction of the Taronga stage I project is anticipated from Granville operations.

Mt Cobalt project

The Mt Cobalt project is located 40 kilometres west of Gympie in Queensland.

Aus Tin has identified a new cobalt target south of Mt Cobalt centred on a recently identified historic mine.

The company is now awaiting 3D modelling data before undertaking the next program of drilling, with some of the new funds to be utilised to progress drilling.

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Fri, 20 Apr 2018 15:17:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195431/aus-tin-mining-shares-surge-after-securing-25-million-funding-facility-195431.html
<![CDATA[News - Aus Tin Mining raising $1.45 million to progress Mt Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/188771/aus-tin-mining-raising-145-million-to-progress-mt-cobalt-project-188771.html Aus Tin Mining Ltd (ASX:ANW) has entered into binding agreements with sophisticated and professional investors to raise $1.45 million via a private placement of shares at $0.01 each.

Aus Tin aims to become a major Australian tin producer, having recommenced production at the high grade Granville Tin Project in Tasmania.

The company intends to expand the project and undertake exploration to extend the life of mine. 

Management elect to convert fees to stock

As a show of support in the company’s projects, management elected to convert $300,000 in fees owed to them into the raising on the same terms as the third-party investors.

This leaves their interest closely aligned with those of fellow shareholders.

Funds used for working capital and furthering Mt Cobalt Project

Funds will be used to accelerate development and exploration at the company’s projects, in particular Mt Cobalt which is located near Gympie in Queensland.

The current drilling program will comprise circa 200 metres of diamond drilling targeting mineralisation below the historic Smiths Mine.  

The program is expected to provide information on the geological structure that is thought to control the higher grade cobalt‐nickel‐manganese mineralisation.  

Recent field mapping has indicated the shear zone may be more folded than first thought and could provide additional drilling targets along a 200-metre section of the overall 800-metre long target zone.

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Fri, 15 Dec 2017 08:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188771/aus-tin-mining-raising-145-million-to-progress-mt-cobalt-project-188771.html
<![CDATA[News - Aus Tin Mining prepares initial shipment from Granville Tin Project ]]> https://www.proactiveinvestors.com.au/companies/news/170766/aus-tin-mining-prepares-initial-shipment-from-granville-tin-project-170766.html Since recommencing tin production in August 2016, the company has continued to optimise the Level 1 operations and progress the approval process for the expanded Level 2 operations.

Level 1 operations have largely comprised the retreatment of tailings from previous operators with tailings assaying about 1% tin being processed to produce a clean tin concentrate up to 65% tin.

Further modifications are being undertaken to improve the recovery of magnetite and reduce iron levels in the tin concentrate.

Most recently, Aus Tin has commenced the treatment of run of mine (ROM) ore from existing stockpiles generated by previous operators.

The company is also progressing approvals for the Granville Expansion which incorporates a resumption of mining of ROM from the open cut pit and an increase in concentrate production rate to an equivalent 550 tonnes of contained tin per annum.

The company is expecting to receive all necessary approvals for the expanded Level 2 operations during the March 2017 quarter.

Concurrently, Aus Tin is finalising the Environmental Impact Statement (EIS) for its Taronga Tin Project in northern New South Wales. The Taronga Stage 1 Project will comprise a trial open cut mine and pilot processing plant.

A total 340,000 tonnes of ore at 0.23% tin plus about 75,000 tonnes of waste will be mined from within the Northern Zone Ore Reserves.

Importantly, the current Australian dollar tin price of circa $29,300 per tonne is at the highest levels since early 2011.

US dollar tin price has risen strongly (up 47%) since the beginning of 2016, on the back of declining supply from two of the largest producing countries, Indonesia and Myanmar.

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Wed, 21 Dec 2016 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170766/aus-tin-mining-prepares-initial-shipment-from-granville-tin-project-170766.html
<![CDATA[News - AusTin Mining Ltd ramps up tin production at Granville ]]> https://www.proactiveinvestors.com.au/companies/news/167677/austin-mining-ltd-ramps-up-tin-production-at-granville-167677.html Tin prices have rallied strongly recently due to the news of several Chinese smelters reducing production output and restricted exports from Indonesia.

AusTin has pounced on this tin opportunity, and is ramping-up production from the Granville Tin Project, located on the west coast of Tasmania.

Granville is positioned within the historic Heemskirk tin field.


Tin production

Production of tin concentrate is on-going and the first dispatch of tin concentrate under the Traxys off-take agreement is anticipated within the month.
Payable tin production to the end of December 2016 is expected to be circa 50 tonnes of contained tin metal, based on the expected grade of tailings being re-treated.

Produced tin concentrate is to be sold under the existing marketing arrangements with Traxys.

Concurrently the company is progressing the necessary approvals for the expanded Level 2 operation.


Cobalt exploration

AusTin has also commenced a 600 metre reverse circulation drilling program targeting high grade cobalt mineralisation at its Mt Cobalt project west of Gympie in Queensland.

To date three holes for a total 120 metres have been completed, with assays pending.

Adding interest, visible black and green cobalt/nickel/manganese oxide mineralisation of indeterminate grade was reported in each of the holes.

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Thu, 20 Oct 2016 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167677/austin-mining-ltd-ramps-up-tin-production-at-granville-167677.html
<![CDATA[News - Aus Tin Mining is the ASX Volume Leader in afternoon trade ]]> https://www.proactiveinvestors.com.au/companies/news/165479/aus-tin-mining-is-the-asx-volume-leader-in-afternoon-trade-70539.html Aus Tin Mining is the ASX Most Volume Leader in afternoon trade.

CompanyCodeLastChangeVolume Aus Tin Mining ANW $0.017 -5.56% 58,455,297 Latin Resources LRS $0.011 -15.39% 31,436,984 Lakes Oil LKO $0.002 0% 24,454,436 Baby Bunting Group BBN $3.000 4.17% 22,584,263 Galaxy Resources GXY $0.365 2.82% 22,224,120 Telstra TLS $5.420 -0.37% 19,914,344 Xped XPE $0.058 5.46% 19,514,946 Caeneus Minerals CAD $0.004 0% 18,505,129 KBL Mining KBL $0.003 0% 17,982,339 Winmar Resources WFE $0.004 -20% 15,946,247

 

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Thu, 18 Aug 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165479/aus-tin-mining-is-the-asx-volume-leader-in-afternoon-trade-70539.html
<![CDATA[News - Aus Tin Mining Ltd targets cobalt within historic workings at Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/165478/aus-tin-mining-ltd-targets-cobalt-within-historic-workings-at-queensland-70528.html Aus Tin Mining Ltd (ASX:ANW) will undertake an exploration program targeting down dip extensions of historic workings at the Mt Cobalt and the Smith Mine located west of Gympie in Queensland.

Based on the steeply dipping cobalt enriched master‐shear zone evident from surface, the mineralised zone is interpreted to extend beyond the reported depth of 25 metres for the historic workings.

The company will drill test for likely extensions of the mineralised zone. Aus Tin had reported up to 1.66% cobalt last month from rock chip samples taken from within the target area.

In 2014-2015, cobalt consumption was estimated at 90,150 tonnes, with about 49% of all cobalt used in rechargeable batteries.

During last month, cobalt price has strengthened to over US$26,000 per tonne as markets recognise the importance of cobalt as a raw material for energy storage and generation, specifically electric vehicles.


Aus Tin Mining becomes second ASX listed tin producer

Earlier this week, Aus Tin commenced the production of tin concentrate at the Granville Tin Project in Tasmania, elevating the company to only the second tin producer listed on the ASX.

Since completing the acquisition of the project less than four months ago, the company has re-commissioned the processing plant and has commenced the re-treatment of tailings.

This milestone occurs against the backdrop of improving tin price (currently US$18,270 per tonne) and declining global tin stocks. Since the start of 2016, tin prices have risen about 25%.

Aus Tin’s share price has doubled since the beginning of this month.

 

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Thu, 18 Aug 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165478/aus-tin-mining-ltd-targets-cobalt-within-historic-workings-at-queensland-70528.html
<![CDATA[News - Aus Tin Mining Ltd among ASX Volume Leaders at the close ]]> https://www.proactiveinvestors.com.au/companies/news/165477/aus-tin-mining-ltd-among-asx-volume-leaders-at-the-close-70512.html Aus Tin Mining Ltd among ASX Volume Leaders at the close.

CompanyCodeLastChangeTradesVolume KBL Mining KBL $0.003 -25.0% 248 187,317,423 Aus Tin Mining ANW $0.017 88.9% 556 128,827,009 Coalbank Ltd CBQ $0.002 0.0% 59 82,377,034 Telstra Ltd TLS $5.445 0.3% 7687 75,639,297 Inca Minerals ICG $0.004 0.0% 59 55,282,891 Victory Mines VIC $0.002 -33.3% 70 52,762,900 Gulf Manganese Corp GMC $0.020 11.1% 164 42,535,152 Winmar Resources WFE $0.005 0.0% 93 39,009,182 Spotless Group SPO $1.020 -10.1% 4135 37,787,165 XPED Ltd XPE $0.056 -6.7% 450 36,457,582

 

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Thu, 18 Aug 2016 07:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165477/aus-tin-mining-ltd-among-asx-volume-leaders-at-the-close-70512.html
<![CDATA[News - Aus Tin Mining Ltd flies on cobalt target found near Gympie ]]> https://www.proactiveinvestors.com.au/companies/news/132540/aus-tin-mining-ltd-flies-on-cobalt-target-found-near-gympie-69636.html Aus Tin Mining Ltd (ASX:ANW) has identified a new high-grade cobalt target centred on historic high-grade workings south of Mt Cobalt near Gympie in Queensland.

The rock chip samples taken from within the target area assayed up to 1.66% cobalt. For comparison, typical economic grades reported for cobalt deposits range from 0.1% to 0.15%.

A field reconnaissance was undertaken last month near the historic Smith workings and beyond the southern extent of previous drilling at Mt Cobalt.

The mapping of the north‐south trending mineralised shear zone along strike from the historic Smith workings has generated a new overall target of about 800 metres in total length.

The potential is significant as historical records for the Smith mine (200 metres south of Mt Cobalt) reported mining a lode 7 metres in true width and depth of 25 metres containing 7.5% cobalt.

Global cobalt supply is forecast to be in deficit from 2016 owing to a combination of lower nickel and copper prices curtailing cobalt production as a by‐product.

Moreover, Cobalt is a key component of lithium‐ion batteries and consumption is set to grow at more than 7.5% per annum to 2020.

 

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Wed, 06 Jul 2016 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132540/aus-tin-mining-ltd-flies-on-cobalt-target-found-near-gympie-69636.html
<![CDATA[News - AusTinMining could soon produce tin from Tasmanian mine ]]> https://www.proactiveinvestors.com.au/companies/news/132539/austinmining-could-soon-produce-tin-from-tasmanian-mine-63866.html AusTinMining (ASX:ANW) has signed a non-binding heads of agreement to acquire the previously producing Granville Tin Project in Tasmania for $1.3 million.

The planned acquisition is timely given that the price of tin in Australian dollars has increased over 11% during the past month to over A$21,000 per tonne.

With the current owners having reported operating costs of A$6,000 per tonne of tin, margins could be attractive.

Granville has been operated variously since 1984, producing a tin concentrate grading over 70% tin.

It was placed on care and maintenance during the first half of 2015 whilst the owners sought to secure the necessary capital to progress an expansion of the project.

The company plans to recommence production as soon as possible.

The project comprises two mining leases, the Granville East open pit, the Central Big H & North Heemskirk Deep Lead prospects, and the Twelve Mile processing plant.

Historical exploration results include drilling intersections from within the open pit of up to 3.6% tin and average ore stockpile grades of 1.88% tin.   

AusTinMining is acquiring private company McDermott Mining Pty Ltd, which owns the project, for $1.3 million comprising vendor finance, a 2% Net Smelter Royalty and assumption or repayment of an existing working capital facility.

Free cash flow will be used to develop the resource target estimate at Granville East open pit and fund further expansion at Twelve Mile Creek processing plant.

The company is also continuing Stage 1 development of its Taronga Tin Project in New South Wales, which incorporates a trial mine and pilot processing facility.



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Thu, 06 Aug 2015 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132539/austinmining-could-soon-produce-tin-from-tasmanian-mine-63866.html
<![CDATA[News - Aus Tin Mining to extract chromite in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/132538/aus-tin-mining-to-extract-chromite-in-queensland-59292.html Aus Tin Mining (ASX:ANW) has agreed with Compound Resources with a view to developing alluvial chromite operations at its Marlborough project (EPM 17768) in Queensland.

Historical mining of chromite is evident in the area and elevated stream sediment results confirm this prospectivity.

During recent field reconnaissance alluvial chromite was identified in a number of areas.

The terms agreed provide Compound Resources with a 120 day evaluation period to further investigate the economic viability of mining of alluvial chromite, after which they may apply for a mining licence.

As consideration, ANW will receive a series of staged payments totalling up to $185,000 plus a 5% royalty.

The company will retain a claw-back should a discovery for metals other than chromite be made.

Compound Resources is a private company with experience in the exploration and mining of chromite and was instrumental in the development of numerous bulk commodity projects in Western Australia, Northern Territory and Queensland.

They have undertaken an extensive review of Australian chromite projects and determined the feasibility of mining alluvial chromite within ANW's EPM 17768.

The agreement provides a pathway to generating revenue for ANW from a non-core commodity that could fund exploration efforts for tin, nickel and other base and precious metals.

ANW will continue to advance its exploration program at EPM 17768 with a focus on the recently identified nickel-cobalt-platinum targets at Racecourse and Spring Creek.

In September, ANW attracted sophisticated investors in a placement which raised $543,687 at $0.004. Directors and management of ANW also participated in the placement.

The funds will be allocated to develop the Taronga Tin Project in New South Wales, and to other carry-out work across its exploration portfolio.

The company recently used a research program to identify 305 tin prospects and historic mines in the New England tin province covered by its exploration licences.

A data review of historic records and previous work to date indicates six key targets within close trucking distance to the Taronga Tin Project and provides the basis for an initial Exploration Target of 150,000 to 265,000 tonnes at 2.3% to 2.5% tin.

This equates to 3,450 to 6,625 tonnes of contained tin.

 

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Mon, 01 Dec 2014 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132538/aus-tin-mining-to-extract-chromite-in-queensland-59292.html
<![CDATA[News - Aus Tin Mining attracts sophisticated investors in placement ]]> https://www.proactiveinvestors.com.au/companies/news/132537/aus-tin-mining-attracts-sophisticated-investors-in-placement-57395.html Aus Tin Mining (ASX:ANW) has attracted sophisticated investors in a placement which raised $543,687 at $0.004, with around 136 million new shares to be issued.

Directors and management of ANW also participated in the placement.

The funds will be allocated to develop the Taronga Tin Project in New South Wales, and to other carry-out work across the company’s exploration portfolio, including drilling.

The company recently used a research program to identify 305 tin prospects and historic mines in the New England tin province covered by its exploration licences.

A data review of historic records and previous work to date indicates six key targets within close trucking distance to the Taronga Tin Project and provides the basis for an initial Exploration Target of 150,000 to 265,000 tonnes at 2.3% to 2.5% tin.

This equates to 3,450 to 6,625 tonnes of contained tin.

ANW is now planning an exploration program to test the targets over the next 12 months, and to accelerate the definition of potential supplementary of high‐grade feed for the Taronga Tin Project.

A Pre-Feasibility Study on Taronga confirmed the technical and economic viability of the project and highlighted areas of potential economic upside, including an increased plant feed grade.

 

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Fri, 05 Sep 2014 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132537/aus-tin-mining-attracts-sophisticated-investors-in-placement-57395.html
<![CDATA[News - Aus Tin Mining advances Taronga tin project in New South Wales ]]> https://www.proactiveinvestors.com.au/companies/news/132536/aus-tin-mining-advances-taronga-tin-project-in-new-south-wales-54157.html Aus Tin Mining (ASX: ANW) has completed a pre-feasibility study over its Taronga tin project in New South Wales, showing it to be technically and economically sound.

A mineral Resource of 57,200 tonnes of contained tin plus 26,400 tonnes copper, and 4.4 million ounces of silver has been defined, including a Probable Ore Reserve of 35,600 tonnes of tin.

A 9.3 year mine life has been estimated via open cut mining, a life-of-mine strip ratio of 1.35, and an average production of 2,815 tonnes per annum.

Capital costs came in a t a moderate $87.8 million, with operating costs of $16,553 per tonne of recovered tin.

Life of mine revenue should be around $705 million, based on US$25,000/t tin and AUD to USD exchange rate of $0.90.

The NPV of $63.2 million also impresses, as does the IRR of 27.3% and payback of just 3.1 years.

Areas of potential upside are to be evaluated in conjunction with a Definitive Feasibility Study.

These include increased plant feed grade, reduced CAPEX and OPEX, higher tin recoveries, copper and silver credits, and an increased mine life through extension of mineralisation at depth.

Aus Tin also controls several other prospective exploration tenements which could increase mine life and/or provide supplementary high grade feed.

Capitalised at just $4 million, the numbers stack up well.

 

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Mon, 07 Apr 2014 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132536/aus-tin-mining-advances-taronga-tin-project-in-new-south-wales-54157.html
<![CDATA[News - Aus Tin Mining granted Queensland nickel, chromite, and precious metal exploration tenement ]]> https://www.proactiveinvestors.com.au/companies/news/132535/aus-tin-mining-granted-queensland-nickel-chromite-and-precious-metal-exploration-tenement-51610.html Aus Tin Mining (ASX: ANW) has been granted the Marlborough exploration tenement in Queensland that is prospective for nickel, chromite, zinc, copper, chrysoprase and precious metals.

Previous exploration for nickel conducted across EPM 17768 has resulted in an extensive geochemical database from which the company, formerly known as AusNiCo, will generate an exploration program to commence in the current quarter.

It will initially focus on chromite and chrysoprase, targeting projects that may be bought into operation quickly and thereafter evaluate the exploration potential for larger scale nickel-zinc and precious metals opportunities.

Historical stream sediment results indicate extensive chromite samples across the tenement and at least two areas of historical chromite mining are observed to have working faces with 2 metre wide massive and semi-massive seams.

Old gold workings occur within EPM 17768 along the southern extension of the Mount Redcliffe structure.

Additionally, the chromite-nickel-copper association typically also includes platinum and palladium, as well as gold.

 

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Mon, 06 Jan 2014 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132535/aus-tin-mining-granted-queensland-nickel-chromite-and-precious-metal-exploration-tenement-51610.html
<![CDATA[News - AusNiCo unlikely to meet all takeover conditions ]]> https://www.proactiveinvestors.com.au/companies/news/132534/ausnico-unlikely-to-meet-all-takeover-conditions-36743.html AusNiCo (ASX:ANW) takeover target Taronga Mines' major shareholder is unlikely to tender acceptance to its offer.

Tarong's independent directors last week backed AusNiCo's offer and recommended shareholder acceptance.

But a major Taronga shareholder Samuel Holdings is unlikely to accept the offer, thereby endangering the transaction as AusNiCo would not be able to satisfy the 90% minimum acceptance condition.

AusNiCo offered 5 of its own shares for every Taronga share.


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Mon, 03 Dec 2012 17:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132534/ausnico-unlikely-to-meet-all-takeover-conditions-36743.html
<![CDATA[News - AusNiCo takeover target independent directors recommend merger offer ]]> https://www.proactiveinvestors.com.au/companies/news/132533/-ausnico-takeover-target-independent-directors-recommend-merger-offer-36662.html AusNiCo (ASX:ANW) takeover target Taronga Mines independent directors have unanimously recommended the proposed merger of the two companies.

The merger, once completed, will create a company with a foundation of base meals assets including the world class Taronga Project in northern New South Wales.

The independent directors of Taronga said there was a compelling commercial rationale for the transaction as it offered target shareholders a 20% premium to the last capital raising price of Taronga at $0.10 per share.

It also gave them access to the broader capital market as well retain exposure to the Taronga project.  It also provided the target shareholders a listing event for their Taronga shareholdings in an equities market that has been difficult for IPOs.

Earlier this month, AusNiCo and Taronga Mines had announced a proposed merger under which Taronga shareholders were being offered 5 AusNiCo shares for each Taronga share they held.

The offer is subject to conditions including a minimum of 90% target shareholder acceptance.

AusNiCo is focused on exploration and development of nickel- cobalt mineral deposits in South-East Queensland and Tasmania.
 

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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Fri, 30 Nov 2012 15:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132533/-ausnico-takeover-target-independent-directors-recommend-merger-offer-36662.html
<![CDATA[News - AusNiCo to merge with Taronga Mines ]]> https://www.proactiveinvestors.com.au/companies/news/132532/ausnico-to-merge-with-taronga-mines-35267.html AusNiCo (ASX: ANW) and the public unlisted tin exploration company Taronga Mines Ltd are to merge, creating an advanced stage company with exposure to tin, nickel, copper and gold.

Consideration for the deal is that five AusNiCo shares will be offered for every one Taronga share, with the offer implying a value of $0.12 per Taronga share - or around $6.9 million for all of Taronga’s issued capital.

The move is a compelling one, and will provide AusNiCo with exposure to a new suite of commodities including tin.

Taronga currently holds a 100% interest in the Taronga Tin Project in New South Wales which is an advanced-stage project that can be brought into the development phase following the
completion of a Scoping Study in 2013.

Highlighting the potential of the project which covers close to 370 square kilometres of granted exploration leases, it is ranked the 14th largest undeveloped tin project in the world.

A pre-feasibility study at the project was completed between 1978 and 1983, including drilling in excess of 33,000 metres of diamond core and percussion holes.

Another plus for AusNiCo is that Taronga also brings a suite of complementary nickel sulphide, copper and gold project opportunities.


AusNiCo gains well-credentialed management

Another transaction highlight for AusNiCo is that it gains a well-credentialed management and exploration team from Taronga lead by Peter Williams, who will join AusNiCo as CEO.

The AusNiCo board will also be complimented by the appointment of two Taronga board members in John Bovard and Richard Willson - who bring strong project development skills.


Additional Offer details

The offer for all of Taronga's share capital values the company at around $6.9 million.

Taronga has 13,100,000 options on issue each exercisable at $0.20 (Taronga Options). AusNiCo proposes to offer five AusNiCo options exercisable at $0.04 per option exercisable by 30 June 2015 to Taronga Option holders in exchange for the cancellation of every Taronga Option held.

For Taronga shareholders, the offer represents a premium of 20% to the last capital raising conducted by Taronga in February 2012 at $0.10 per share.

The transaction will be implemented through an off-market takeover offer for Taronga, which will be subject to certain conditions summarised in Schedule 1, including a 90% minimum acceptance
condition.

Taronga’s independent Directors have resolved to unanimously recommend that Taronga shareholders
accept the Offer, in the absence of a superior proposal.


The Taronga Tin Project

Extensive metallurgical test work, including pilot plant trials, has demonstrated the amenability of the ore to pre-concentration, upgrading the ore to a concentrator feed of approximately 0.46% Sn, 0.18% Cu and 11g/t Ag; (ii) a predicted tin recovery of 69%; and (iii) an average tin concentrate grade >55% Sn with few impurities.

More recent work completed by Taronga has identified a number of areas of key upside, including:

- Increased in-situ grade – comparisons of Newmont data on bulk grade of underground sampling and adjacent drill holes supports the potential for actual resource grades to be higher than estimated;

- Higher grades at depth – based upon a better understanding of the geological model, supported by historic drilling data at depth, including 2m* at 1.0% Sn from 351m in DG402-7; 1m* at 2.6% Sn from 169m and 1m* at 2.1%Sn from 213m in hole DG410-3E (Note * down hole length, true width is unknown);

- Increased tin recovery – application of modern comminution and gravity separation equipment
developed since the Newmont work was completed;

- By-product credits - recovery of copper and silver compared to nil by Newmont; and

- Exploration potential - McDonalds and Emerald are advanced exploration targets within trucking
distance of the Taronga Tin Project and could provide incremental tonnage.


Analysis

The deal for AusNiCo shareholders is a very significant one, and delivers exposure to an advanced-stage tin project that can be brought into the development phase following the completion of a Scoping Study in 2013.

Another advantage with the move is that AusNiCo is that it follows the board strategy of gaining access to a commodity, being tin, that they believe has robust supply/demand fundamentals.

Tin prices have recently strengthened on the back of global supply deficit, and are trading above USD$20,000/t. Tin remains the principal metal used in electronics solder, with future applications being developed in Lithium batteries and stainless steel.

Not to be forgotten is that the merger also brings a suite of nickel sulphide, copper and gold project opportunities, which complement AusNiCo’s existing portfolio of early stage nickel sulphide exploration projects in Queensland and Tasmania.

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Thu, 01 Nov 2012 10:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132532/ausnico-to-merge-with-taronga-mines-35267.html
<![CDATA[News - AusNiCo moves closer to establishing tonnage potential in the Blake Snake Region ]]> https://www.proactiveinvestors.com.au/companies/news/132531/ausnico-moves-closer-to-establishing-tonnage-potential-in-the-blake-snake-region-23547.html AusNiCo (ASX: ANW) has now wrapped up a 12 hole 1300 metre reverse circulation drilling program at the Black Snake Plateau, which was aimed at further defining the extent of mineralisation at The Peak, Orion’s Belt, Pembroke, Mt Coora, and Mt Clara prospects.

Importantly for AusNiCo, assay results support extensions to the copper-gold-silver mineralised system at The Peak and Pembroke prospects.

Highlights from the program include:

- 8 metres at 43 grams per tonne (g/t) silver, 0.7% copper, 0.24g/t gold from 50 metres;
- 10 metres at 27.2g/t silver, 0.4% copper, 0.4g/t gold from 40 metres;
- 22 metres at 0.33% copper, 0.3g/t gold from 18 metres; and
- 6 metres at 1.2g/t gold from 12 metres.

AusNiCo said that results from the drilling campaign are encouraging and contribute to an increase in the area of copper-gold-silver mineralisation at The Peak and Pembroke prospects - with Pembroke remaining open to the west, north and at depth.

The Peak copper-gold-silver prospect will add to the already identified mineral endowment in the Black Snake Plateau region, which is in close proximity to the nonoperational Shamrock Mill.

Historic underground workings at the Peak extended over 200 metres of strike and high rock chips up to 700g/t silver.


AusNiCo successful in Tasmanian application

In other AusNiCo news, Mineral Resources Tasmania has advised the company that it has been successful in its competing application for ERA 882 in western Tasmania near Heazlewood River.

The tenement is located within the Devonian Meredith Granite and Cambrian Heazlewood Ultramafic complex and has numerous nickel and platinoid prospects as well as copper, lead, zinc and gold.

Past exploration work has reported Nickel sulphide breccia at Fenton’s Knob containing up to 1.4% nickel sulphide (Avebury Style), surface rock chip values at Brassy Hill to 18.3g/t gold, 15% lead, 8% copper and 4.7% nickel.

At Fenton’s prospect, results include up to 6 metres at 6.7ppm platinum and 9 metres at 4.0ppm platinum.

The ERA area is located about 25 kilometres west of Waratah and the Mt Bischoff Tin deposit containing 1.9 million tonnes at 0.96% tin.

 

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Fri, 16 Dec 2011 14:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132531/ausnico-moves-closer-to-establishing-tonnage-potential-in-the-blake-snake-region-23547.html
<![CDATA[News - AusNiCo commences nickel sulphide drilling at Black Snake Plateau ]]> https://www.proactiveinvestors.com.au/companies/news/132530/ausnico-commences-nickel-sulphide-drilling-at-black-snake-plateau-22323.html AusNiCo (ASX: ANW) has kicked off a 1,200 metre reverse circulation drilling program to test a number of highly prospective targets at the Black Snake Plateau Region in Queensland.

Recent geophysical surveys defined induced polarization anomalies at the Mt Clara, Mt Coora and Peak prospects, with similarities to the regional settings at AusNiCo’s Pembroke prospect, also in the Black Snake region.

The Black Snake drilling program is planned to test the presence of nickel sulphide mineralisation underlying the large nickel oxide discovery at the Mt Cobalt prospect and the induced polarization anomaly along the geological contact at Mt Coora.

It will also test prominent induced polarisation anomalies at the Mt Clara North, Peak and Orion’s Belt prospects, along with geochemical anomalies at Peak and Orion’s Belt.

High silver values from previously reported rock chips at Peak and Orion’s belt, with more than 700 grams per tonne silver identified, suggest that Silver Valley mineralisation could extend over 5 kilometres of strike.

AusNiCo identified a potentially large copper-silver mineralised system at Silver Valley earlier this year, based on geochemical sampling, geophysical techniques and drill testing.

Assay results at Silver Valley, including 21 metres at 1% copper and 99 grams per tonne (g/t) silver including 1.5 metres at 6.2% copper and 582g/t silver, support semi-massive silver/copper mineralisation.

Results from the Black Snake drilling program will be reported in December 2012.

At the end of the September quarte, AusNiCo had total cash of $9.78 million.

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Mon, 21 Nov 2011 10:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132530/ausnico-commences-nickel-sulphide-drilling-at-black-snake-plateau-22323.html
<![CDATA[News - AusNiCo to raise $1.4m for exploration ]]> https://www.proactiveinvestors.com.au/companies/news/132529/ausnico-to-raise-14m-for-exploration-19606.html AusNiCo (ASX: ANW) plans to raise $1,400,000 via a private placement to professional and sophisticated investors of $800,000 and an underwritten Share Purchase Plan to raise $600,000.

The placement has been closed with firm commitments for 16,000,000 shares issued at $0.05 per share.


A SPP will offer shareholders an opportunity to acquire shares up to $15,000 worth of shares. The SPP has been underwritten by BCP to $600,000.

Funds raises will fund the company’s further exploration and development of its suite of tenements in Queensland and New South Wales (prospective for Nickel, Copper, Silver and Gold) and to provide working capital for the Company’s operations.

Exploration activities for the next 12 months will focus on:

- Drilling sulphide targets at Mt Cobalt, The Peak, Mt Clara;
- Drilling East Kilkivan gold target;
- Define drill targets at the major exploration regions of Marlborough, Koonenberry; and
- Regional advancement at Kandanga, Mt Slopea

AusNiCo’s chairman Brian Moller said, “We are very pleased with the strong support for the share placement by our existing shareholders, as well as new investors.

“Since the IPO in October 2010, AusNiCo has undertaken geophysical techniques and identified disseminated sulphides in the Black Snake Plateau Region, identified a new, previously unknown gold target at East Kilkivan, confirmed low arsenic in nickel concentrate and nickel sulphide flotation recovery works.”

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Wed, 14 Sep 2011 10:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132529/ausnico-to-raise-14m-for-exploration-19606.html
<![CDATA[News - AusNiCo in pre-open pending capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/132528/ausnico-in-pre-open-pending-capital-raising-announcement-19499.html AusNiCo (ASX: ANW) has been granted a trading halt by the ASX pending the release of details regarding a capital raising, with the company's shares placed in pre-open.

The halt will last until the earlier of the announcement, or the commencement of trade on Wednesday 14 September.

AusNiCo has not yet indicated where the potential capital injection will be allocated.

The company though has recently been active at the Pembroke project, where broad previously reported intersections include 116 metres at 0.29% nickel.

Pembroke has already established the potential for a large open cut minable region of mineralisation.

AusNiCo said that the recent reverse circulation drilling has further delineated potentially open pittable nickel, copper and gold mineralisation in the highly anomalous area.

 

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Mon, 12 Sep 2011 10:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132528/ausnico-in-pre-open-pending-capital-raising-announcement-19499.html
<![CDATA[News - AusNiCo drilling extends nickel sulphide mineralisation at Pembroke Prospect ]]> https://www.proactiveinvestors.com.au/companies/news/132527/ausnico-drilling-extends-nickel-sulphide-mineralisation-at-pembroke-prospect-17870.html AusNiCo (ASX: ANW), as previously reported on November 2010, intersected 181 metres at 0.25% nickel from drilling in hole PEMD1 at the Pembroke prospect, supporting extensions to its large low grade nickel sulphide mineralized system.

Hole PEMD1 also returned 21 metres at 1.04% copper, 2.09 grams per tonne gold and 145 parts per million cobalt.

The company is encouraged by the latest results of the more recent percussion drill program as they contribute to an increase in the area of nickel sulphide mineralisation at the Pembroke prospect where AusNiCo ultimately aims to delineate a substantial open pit development.

Mr John Downie, managing director at Ausnico, told Proactive Investors that "we are progressing to test for targets in the 50 million tonnes 0.4% nickel plus deposit size in the Black Snake Plateau Plateau and are confident that we will find these at Pembroke and Mt Cobalt.

"At Mt Cobalt we have already drilled up to 96 metre thick nickel oxide (0.59% Ni) that extends over an area of 400 meters long and 250 metres wide." There is strong evidence that this large system overlies primary nickel sulphides.

Mr Nick Mather, non executive director of AusNiCo added that "at the Pembroke prospect we've been drilling where we've got frequent intersections from a few meters to 1% over intersections up to 0.25% over 118 meters. Importantly the sulphide is recoverable using float techniques. It also has the appeal of having low arsenic values in the nickel concentrate."

The company has now completed a 2,005 metre reverse circulation drilling campaign at the Pembroke project near Gympie in Far North Queensland. The program moves AusNiCo closer to establishing the tonnage potential in the Blake Snake Region at Pembroke, Silver Valley and the nearby Mt Clara/Mt Coora prospect.

Other highlights include:

- 18 metres at 0.4% nickel from 62 metres, including 8m at 0.54% nickel;
- 48 metres at 0.4% nickel from 74 metres, including 22m at 0.62% nickel;
- 18 metres at 1.27g/t per tonne gold from 92 metres; and
- 12 metres at 0.39% nickel from 48 metres.

Ausnico is also planning a drilling program at the Ridleys prospect to the south where the company already has high grade nickel over 2% in the drilled oxide cap.

The drilling is designed to further define the extent of mineralization and tonnage potential this prospect. Mineralization occurs over a 200 meters by 100 meters system to a depth of up to 180 meters.

Significantly, the Pembroke prospect remains open to the West and North and at depth, offering potential to double the size of the system. Also, sulphide Ni potential at the Ridley’s and Mt Cobalt prospects remains open

Ausnico is also drilling at the Ridleys prospect to the south where the company already has high grade nickel over 2% in the drilled oxide cap.

The drilling is designed to further define the extent of mineralisation and tonnage potential this prospect. Mineralisation occurs over a 200 metres by 100 metres system to a depth of up to 180 metres.

Significantly, the Pembroke prospect remains open to the West and North and at depth, offering potential to double the size of the system.

Also, sulphide Ni potential at the Ridley’s and Mt Cobalt prospects remains open.

A recent Pole-Di-Pole Induced Polarisation (IP) survey identified a number of new disseminated sulphide targets which have been drill tested during the reverse circulation program.

Mather said "we have high order IP targets still to follow at the northern end of the Mt cobalt and the northern end of the 5 kilometre silver valley trend at the Peak prospect.

"At Marlborough south we are looking to apply the same model in a very nickeliferous belt."

Significant gold and copper zones are also evident in the Pembroke prospect and the company is planning further drill testing to reconcile the dimensions of this system.

On July 4 AusNiCo announced that it had potentially uncovered a large copper silver mineralised system at the Silver Valley prospect which remains open to the north, south and at depth, providing the potential for strike to extend over five kilometres.

Importantly, the company's projects have strong infrastructure including access to power, water, roads, rail, ports.

With the continued strong nickel price, currently at $23,975 per tonne, and gold hitting an all time high of US$1589.40 overnight, the outlook for the company remains healthy.

 

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Thu, 14 Jul 2011 12:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132527/ausnico-drilling-extends-nickel-sulphide-mineralisation-at-pembroke-prospect-17870.html
<![CDATA[News - AusNiCo geophysical techniques point to large copper silver system at Silver Valley Prospect ]]> https://www.proactiveinvestors.com.au/companies/news/132526/ausnico-geophysical-techniques-point-to-large-copper-silver-system-at-silver-valley-prospect-17595.html AusNiCo (ASX: ANW) has potentially uncovered a large copper silver mineralised system at the Silver Valley prospect near Gympie in Queensland.

The discovery is a very large low grade nickel sulphide system with very low arsenic values, therefore capable of yielding a prion product of interest to Chinese smelters.

Geophysical techniques were applied at the prospect with a 1200 metre reverse circulation campaign now completed to define the extent of the mineralisation.

AusNiCo said the results support semi‐massive silver/copper mineralisation previously discovered in SVGD1 and 2, and confirms the exploration model at Silver Valley.

The latest highlights include:

- 16 metres at 1.27 grams per tonne (g/t) silver from 91 metres;
- 14 metres at 6.2g/t silver from 24 metres, including 2 metres at 24g/t silver, 0.58% lead, 0.53% zinc, 0.2% copper;
- 10 metres at 22g/t silver, 0.13% copper from 30 metres; and
- 70 metres at 7.9g/t silver, 0.06% copper from 112 metres.

Importantly, the zone remains open to the north, south and at depth, providing the potential for strike to extend over five kilometres.

AusNiCo continues to move the project forward, with further drill testing and Induced Polarisation (IP) Modelling to assess the tonnage potential.

The company added that preliminary drilling of the 300 metre wide IP anomaly encountered in the southern two survey lines revealed abundant sulphides (dominantly pyrite) associated with the altered contact aureole between the Mt Mia Serpentinite (Greenstone) and underlying Station Creek Adamellite.

SVG 11 intersected mineralisation from a 112 metre down hole, which was stopped at 182 metres still in mineralisation.

 

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Mon, 04 Jul 2011 10:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132526/ausnico-geophysical-techniques-point-to-large-copper-silver-system-at-silver-valley-prospect-17595.html
<![CDATA[News - AusNiCo uses geophysical techniques to define drill targets at Pembroke discovery ]]> https://www.proactiveinvestors.com.au/companies/news/132525/ausnico-uses-geophysical-techniques-to-define-drill-targets-at-pembroke-discovery-15735.html AusNiCo (ASX: ANW) has used geophysical techniques using Induced Polarization (IP) at Pembroke, Silver Valley and Mt Clara to identify zones of disseminated sulphide mineralisation.

The IP survey  data has identified new drill targets which will also be drilled during the reverse circulation program. Drill testing will also proceed at the regional prospects of Boyne River, Kilkivan East and Poperima Creek.

A 2,500 metre reverse circulation drilling campaign is underway to define the extent of mineralization and tonnage potential at Pembroke, Silver Valley, Mt Cobalt and Mt Clara.

AusNico is focused on the discovery and economic development of its nickel sulphide discovery at Pembroke, Silver Valley and Mt Cobalt projects.

Nickel Sulphides are highly prized, rare discoveries with only two ore-grade nickel sulphide discoveries in Eastern Australia in the last 55 years, the Avebury Nickel Mine in western Tasmania discovered by Allegiance Mining NL in January 1998 and now Pembroke, discovered by AusNiCo in 2008.

AusNiCo discovered ore grade nickel sulphide mineralisation at its Pembroke Prospect on the Black Snake Plateau, 30 kilometres south of Kilkivan in South East Queensland during mid 2008.

AusNiCo’s discovery hole PEM2 at the Pembroke Prospect intersected 50 metres of nickel sulphide mineralisation averaging 0.34% nickel, and at the point that the hole was stopped it was still in the nickel sulphide mineralisation.

Within that 50 metres of nickel mineralisation was a four metre zone averaging 1.1% Ni which represents an intercept at ore-grades and widths.

AusNiCo believes that it has discovered mineralisation that has strong similarities with the Avebury-style of nickel sulphide deposit.

Nickel mineralisation discovered within AusNiCo’s extensive tenements in South East Queensland show potential for a new nickel province more than 70 kilometres long.

Current data from the previously completed airborne electromagnetic survey was modelled in 3D and defined a broad zone of interest with increased magnetic susceptibility.

This was followed up early this year with laboratory test-work on core samples and field based down-hole IP (chargeability and resistivity) measurements. Ground IP survey, covering a broader area has now been undertaken at Pembroke, and resulting IP anomalies from the first five survey lines.

AusNiCo has postulated the existence of a shell of disseminated sulphide mineralisation around the magnetic features at Pembroke and Mt Cobalt and therefore believes that the IP survey will help define zones of consistent disseminated sulphides such as were intersected in PEMD1, PEMD3 and PEMD4.

It is considered that the IP response reflects total sulphide content, which includes pyrite, pyhrrotite and any copper sulphides.

There is an observable difference between disseminated magnetite dominant serpentinite and disseminated magnetite-(Fe-Cu-Ni-Co) sulphide (+/-Au) mineralised serpentinite.

To support the IP survey data, a large reconnaissance gradient array survey will be completed over this area in Q2 2011.

The first line of the IP survey at Silver Valley, was completed to further confirm the effectiveness of the technique to display the location of known mineralised zones previously intersected in SVGD1. The second parallel line at 100m south (along strike) displays a strong chargeability zone at around 30m below surface.

This result provides additional confidence that the Silver Valley intersection extends to the south as predicted from the Gossan corridor and soil anomalies previously reported.

Additional IP survey lines will be completed in Q2 2011 along with a drilling program to confirm the strike extension and depth of the high-grade zone.

The detailed analysis of the IP survey data at Pembroke and Silver Valley provides confidence that this technique can be used effectively to identify drill targets that have a high probability of hosting mineralisation, and significantly improving the effectiveness of the AusNiCo drilling programs.

In the first quarter 2011 diamond drilling on AusNiCo’s 100% owned Black Snake Project focused on the Pembroke and Silver Valley prospects.

 

Metallurgical Test-work

A sample of drill core from Pembroke was supplied to an independent metallurgical consultant for flotation test-work. The sample was taken from PEMD1 drill core, at a depth of 53m to 59m.

The composite head grade of the test sample was 0.7% nickel. A sighter flotation test has been completed and although the grind size, reagent dosage and flow sheet have not yet been optimized, a very positive and encouraging result was achieved.

The nickel recovery to the combined rougher concentrate was 72.6% and the concentrate contained 11.8% nickel.

AusNiCo has commenced further metallurgical testing of the other nickel mineralised zones intersected in the core drilling at Pembroke, completed during first quarter 2011.

 

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Wed, 27 Apr 2011 10:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132525/ausnico-uses-geophysical-techniques-to-define-drill-targets-at-pembroke-discovery-15735.html
<![CDATA[News - AusNiCo intersects high grade near surface silver and copper at Black Snake ]]> https://www.proactiveinvestors.com.au/companies/news/132524/ausnico-intersects-high-grade-near-surface-silver-and-copper-at-black-snake-15014.html AusNiCo (ASX: ANW) has intersected high grade near-surface silver and copper at the company's wholly-owned Black Snake Plateau Project in southeast Queensland.

Highlights include:

 - 21 metres at 1.0% copper, 99 grams per tonne (g/t) silver, including 1.5 metres at 6.2% copper and 582g/t silver; and
 - 8 metres at 89g/t silver, including 2 metres at 202g/t silver and 1g/t gold.

The latest discoveries were at the Silver Valley prospect, from two diamond drill holes, targeted with a mapped surface gossan outcrop over a length of 500 metres.

AusNiCo is already planning the next step with in-fill and step out reverse circulation drilling.

Importantly, the area at Black Snake is well serviced with mining infrastructure and support which provides AusNiCo the ability to rapidly develop operations with further discoveries.

In other AusNiCo news, the company currently has an induced polarisation survey underway at the Pembroke and Mt Cobalt prospects to define zones of mineralisation, which are located just to the east of Silver Lake.

 

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Tue, 29 Mar 2011 12:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132524/ausnico-intersects-high-grade-near-surface-silver-and-copper-at-black-snake-15014.html
<![CDATA[News - AusNiCo hits shallow high grade copper and gold at Pembroke ]]> https://www.proactiveinvestors.com.au/companies/news/132523/ausnico-hits-shallow-high-grade-copper-and-gold-at-pembroke-11971.html In just its first diamond drill hole at the Pembroke Nickel Prospect in South East Queensland, AusNiCo (ASX: ANW) has hit; 20.9 m at 1.04% copper, 2.09g/t gold, and 26m at 0.44% nickel, 224ppm cobalt.

The intersection highlight included:

- 12.33m at 1.49% copper, 2.95g/t gold; including 1m at 9.56g/t gold, 15.85g/t silver, 5.06% copper and 0.53% nickel.

The company already has plans in place for an in-fill reverse circulation plan to immediately follow the diamond drilling program, to better define the extent of the ore zone.

 

The nickel intersections included:

- 181m (20‐201m) at 0.25% nickel, 145ppm cobalt (entire sulphide zone) including:
- 93m (39‐132m) at 0.29% nickel, 158ppm cobalt; and
- 26m (39‐65m) @ at.44% nickel, 224ppm cobalt.

The results identify the potential for a low risk and low cost exploration opportunity in the Mt Cobalt area, with the prospect located 55km west of Gympie.

John Downie, chief executive, said "These results, together with those previously reported, have bolstered confidence in the company ultimately delineating a substantial open pit development at the Pembroke prospect.”

AusNiCo is also currently conducting soil geochemistry and surface sampling at its Kandanga, Kilkivan, Green Rock, Messmate Mountain, Tewoo and Widgee prospects in order to assist with the definition of drilling targets.

 

Article highlight:

With high grade near surface copper and gold hits in just its first diamond drill hole, AusNiCo is already planning infill drilling at Pembroke, which has the potential to be an open pit mine.

 

 

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Wed, 24 Nov 2010 11:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132523/ausnico-hits-shallow-high-grade-copper-and-gold-at-pembroke-11971.html