Proactiveinvestors Australia Alice Queen Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Alice Queen Ltd RSS feed en Tue, 18 Jun 2019 10:55:39 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Alice Queen enters Horn Island earn-in and JV agreement with St Barbara ]]> https://www.proactiveinvestors.com.au/companies/news/221516/alice-queen-enters-horn-island-earn-in-and-jv-agreement-with-st-barbara-221516.html Alice Queen Ltd (ASX:AQX) has entered an earn-in and joint venture agreement (EIJVA) with St Barbara Ltd (ASX:SBM) for the Horn Island Gold Project in Torres Strait, far-north Queensland.

The company believes St Barbara, a mid-tier gold producer, has the technical capability, financial security and operational flexibility to help realise and fully maximise the potential that Horn Island hosts.

St Barbara has made the agreement with Alice Queen's 84.5%-owned subsidiary Kauraru Gold Pty Ltd.

Alice Queen managing director Andrew Buxton said the EIJVA was the culmination of a detailed search for the right joint venture partner at Horn Island.

READ: Alice Queen in trading halt ahead of Horn Island JV announcement

He said: “The agreement with St Barbara was formed on the back of extensive talks with a number of interested parties.

"Ultimately the company was of the view that St Barbara was the perfect fit for both Alice Queen and Horn Island.

“We are pleased to have secured St Barbara as our partner for Horn Island and we look forward to working closely together with a mutual view of exploring and developing this asset into a profitable gold mine.”

READ: Alice Queen reveals potential for a larger gold system at Horn Island

The commercial terms set out in the EIJVA are:

St Barbara has the right, but not the obligation to earn 70% in the Horn Island project by sole funding expenditure of $4 million within 36 months;

The area that is the subject of the earn-in rights does not include the historic Horn Island pit area or the area that holds the existing inferred mineral resource of 7.96 million tonnes at 1.9 g/t gold for 492,000 ounces;

Kauraru has granted St Barbara an option to acquire a 70% interest in the excluded zone with effect on or after it earns its earn-in interest for fair value determined at the time of the acquisition; and

St Barbara may withdraw from the earn-in and JV agreement at any time prior to satisfying the earn-in expenditure requirement provided it has funded expenditure of at least $500,000 within the first 12 months.

The agreement aligns Alice Queen with a well-established gold miner that has experience in developing a gold project on an island that bears geographical synergies to Horn Island.

Alice Queen will assist where requested by St Barbara in respect of all St Barbara exploration activities, given its strong relationships and experience on the ground at Horn Island.

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Wed, 05 Jun 2019 13:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221516/alice-queen-enters-horn-island-earn-in-and-jv-agreement-with-st-barbara-221516.html
<![CDATA[News - Alice Queen in trading halt ahead of Horn Island JV announcement ]]> https://www.proactiveinvestors.com.au/companies/news/221349/alice-queen-in-trading-halt-ahead-of-horn-island-jv-announcement-221349.html Alice Queen Ltd (ASX:AQX) is in a trading halt ahead of a joint venture proposal for the company’s flagship Horn Island Gold Project in Torres Strait, north of Cape York Peninsula.

The trading halt will remain in place until the beginning of ASX trading on Wednesday, June 5, 2019, or when an announcement is made to the market, whichever occurs earliest.

Alice Queen's shares last traded at 1.8 cents.

Horn Island project

In July 2018 the company revealed a profound change in the geological understanding and exploration potential at Horn Island following work by leading industry consultants.

The Horn Island (Ngurupai) project lies in the Kaurareg Archipelago of Torres Strait.

This process involved Alice Queen re-assaying almost 15,000 drill core samples and 1,700 surface rock chip samples using advanced analytical methods.

Real prize “still to come”

At the time, Alice Queen managing director Andrew Buxton said: “The new studies reveal that Horn Island gold mineralisation is in the deposit category of the well-known multi-million-ounce north Queensland deposits such as Kidston, Mungana, Mt Leyshon and Mt Wright.

“The most exciting part is that the Horn Island historical pit area, the subject of the company’s existing mineral resource is likely a secondary satellite expression within the much larger underexplored Horn Island alteration system.

“The real prize at Horn Island is still to come.”

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Mon, 03 Jun 2019 14:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221349/alice-queen-in-trading-halt-ahead-of-horn-island-jv-announcement-221349.html
<![CDATA[News - Alice Queen reveals potential for a larger gold system at Horn Island ]]> https://www.proactiveinvestors.com.au/companies/news/201287/alice-queen-reveals-potential-for-a-larger-gold-system-at-horn-island-201287.html Alice Queen Ltd (ASX:AQX) has revealed a profound change in the geological understanding and exploration potential at Horn Island following the recent work by leading industry consultants, together with the body of work the company has compiled since listing in 2015.

The Horn Island (Ngurupai) project lies in the Kaurareg Archipelago of the Torres Strait, north of Cape York Peninsula.

Alice Queen has re-assayed almost 15,000 drill core samples and 1700 surface rock chips samples using advanced analytical methods.

Alice Queen managing director Andrew Buxton said: “The new studies reveal that the Horn Island gold mineralisation is in the deposit category of the well-known multi-million ounce North Queensland deposits such as Kidston, Mungana, Mt Leyshon and Mt Wright.

“The most exciting part is that the Horn Island historic pit area, the subject of the company’s existing mineral resource, is likely a secondary satellite expression within the much larger, under-explored Horn Island alteration system.

“The real prize at Horn Island is still to come”.

READ: Alice Queen hits high-grade gold in new prospect at Horn Island

The Horn Island project hosts an inferred resource of 5.08 million tonnes at 2.01 g/t for 375,000 ounces of gold.

Structural studies of the Horn Island resource area have shown that the gold is contained in a large tension vein array setting with significant probable extensions which have had only limited drill testing.

Over the next 2-3 months, Alice Queen is planning to move forward with an exploration program comprising:

• Extension of soil and rock chip geochemistry for complete coverage of the alteration system;
• Flying of a close-spaced airborne magnetics and radiometric survey;
• Induced polarisation surveys to focus drilling in target areas defined by the geochemistry and airborne survey;
• Drilling of gold-mineralised cupola phase targets; and
• Extension drilling to add to the resource at the historic pit resource area.

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Mon, 23 Jul 2018 15:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201287/alice-queen-reveals-potential-for-a-larger-gold-system-at-horn-island-201287.html
<![CDATA[News - Alice Queen hits high-grade gold in new prospect at Horn Island ]]> https://www.proactiveinvestors.com.au/companies/news/193514/alice-queen-hits-high-grade-gold-in-new-prospect-at-horn-island-193514.html Alice Queen Ltd (ASX:AQX) has received high-grade gold results from initial drilling of Southern Silicified Ridge prospect at its Horn Island Gold Project in Torres Strait, North Queensland.

Best result from the maiden 9-hole diamond drilling program for 1,500 metres is 3 metres at 9.41 g/t gold, including 1 metre at 16.25 g/t.

This was within an 11-metre intersection averaging 2.89 g/t.

Shares increase 25%

Alice Queen shares increased 25% to 5 cents.

The drilling program was conducted within a 3-kilometre surface gold system and confirm a potentially substantial gold system at Southern Silicified Ridge (SSR).

READ: Alice Queen eyes resource expansion at Horn Island gold project

Managing director Andrew Buxton said: “The potential of the Horn Island goldfield has increased dramatically.”

Assay results from five holes have been received with the results from remaining holes expected within two weeks.

Drilling has only tested a 500-metre portion of the much larger exposed surface gold zone.

Inferred resource of 375,000 ounces

The Horn Island project hosts an inferred resource of 5.08 million tonnes at 2.01 g/t for 375,000 ounces of gold.

SSI is 2 kilometres from the Horn Island resource.

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Wed, 21 Mar 2018 15:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193514/alice-queen-hits-high-grade-gold-in-new-prospect-at-horn-island-193514.html
<![CDATA[News - Alice Queen eyes resource expansion at Horn Island gold project ]]> https://www.proactiveinvestors.com.au/companies/news/185918/alice-queen-eyes-resource-expansion-at-horn-island-gold-project-185918.html Alice Queen Ltd (ASX:AQX) has commenced Phase 2 diamond drilling at its flagship Horn Island gold project in the Torres Strait region of North Queensland.

The company has planned 7,300 metres of diamond core drilling over two stages, aimed at upgrading the existing 375,000 ounces inferred gold resource.

Alice Queen’s drilling has commenced on a 24/7 basis with Stage A (3000 metres) to be completed by December 2017 and Stage B (4300 metres) to commence in the first quarter 2018.

The phase 2 drilling program will evaluate the remaining balance of the project’s Exploration Target.

The purpose of the 2-stage program is to allow for an initial assessment of the overall Horn Island pit target area and to provide sufficient opportunity to review the results.

Alice Queen is also aiming to complete preliminary modelling and to further optimise drill targeting prior to implementing the second stage.

The maiden inferred resource at Horn Island is 5.8 million tonnes grading 2.01 g/t gold for 375,000 ounces of gold.

This drilling is critical to achieving the company's goal of adding a significant increase to its current resource at Horn Island.

Given that the current resource covers only circa 30% of the area around the pit that is known to be mineralised, Alice Queen is expecting a significant upside.

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Fri, 20 Oct 2017 11:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185918/alice-queen-eyes-resource-expansion-at-horn-island-gold-project-185918.html
<![CDATA[News - Alice Queen readies to reveal resource for Horn Island ]]> https://www.proactiveinvestors.com.au/companies/news/183267/alice-queen-readies-to-reveal-resource-for-horn-island-183267.html Alice Queen Ltd (ASX:AQX) has been granted a trading halt by the ASX this morning pending a maiden resource from the company’s flagship project at Horn Island gold project.

The project is located in the Torres Straight region of North Queensland.

Recent assays included: 12 metres at 4.09g/t gold from 112 metres; 12 metres at 3.28g/t gold from 265 metres; and 4 metres at 9.96g/t gold from 88 metres.

The halt will remain in place until the opening of trade on Tuesday 5th September 2017, or earlier if an announcement is made to the market.

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Fri, 01 Sep 2017 09:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183267/alice-queen-readies-to-reveal-resource-for-horn-island-183267.html
<![CDATA[News - Alice Queen chatting with underwriter ]]> https://www.proactiveinvestors.com.au/companies/news/182761/alice-queen-chatting-with-underwriter-182761.html Alice Queen Ltd (ASX:AQX) has 119 million $0.03 options expiring on the 30th September 2017 (ASX:AQXO), which are currently in-the-money based on the last traded price of $0.049.

The company is currently reviewing a proposed underwriting of the listed options, and if fully converted, would provide circa $3.6 million in cash.

Alice Queen recently wrapped up a Phase One resource definition drilling program at the Horn Island gold project in Queensland.

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

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Tue, 22 Aug 2017 10:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182761/alice-queen-chatting-with-underwriter-182761.html
<![CDATA[News - Alice Queen to lift cash balance ]]> https://www.proactiveinvestors.com.au/companies/news/175024/alice-queen-to-lift-cash-balance-175024.html Alice Queen (ASX:AQX) has been granted a trading halt by the ASX, with its shares placed in pre-open.

The company is heading to market with a capital raising.

Alice Queen recently engaged Mining Plus to undertake gold mineralisation modelling on targets within and in proximity to the historic Horn Island Pit prospect area.

Horn Island lies in the Kaurareg Archipelago of the Torres Strait, north of Cape York Peninsula.

The halt will remain in place until the opening of trade on Wednesday 22nd March 2017, or earlier if an announcement is made to the market.

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Mon, 20 Mar 2017 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175024/alice-queen-to-lift-cash-balance-175024.html
<![CDATA[News - Alice Queen to reveal partner ]]> https://www.proactiveinvestors.com.au/companies/news/174346/alice-queen-to-reveal-partner-174346.html Alice Queen (ASX:AQX) is preparing to outline details of a proposed joint venture, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 9th March 2017, or earlier if an announcement is made to the market.

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Tue, 07 Mar 2017 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174346/alice-queen-to-reveal-partner-174346.html
<![CDATA[News - Alice Queen Ltd to explore additional copper-gold porphyry targets ]]> https://www.proactiveinvestors.com.au/companies/news/168906/alice-queen-ltd-to-explore-additional-copper-gold-porphyry-targets-168906.html The new licence, known as “Mendooran”, continues the company’s strategy of exploring for copper-gold porphyry deposits along the highly prospective Molong Volcanic Belt.

The Mendooran target was selected by the company’s chief technical advisor, John Holliday, who was a principal discoverer of Newcrest Mining Ltd’s (ASX:NCM) giant Cadia Valley deposits.

Cadia Valley is one of Australia’s largest gold mining operations.

Mendooran covers about 300 square kilometres of prospective Molong Volcanic Belt rocks undercover of younger Pilliga sandstones.

Alice Queen’s new license is along strike, and analogous in concept to Looking Glass, where the company is currently drilling.

Last week, the first drill hole at Looking Glass confirmed the presence of Molong Volcanic Belt rocks analogous to the rocks hosting the Cadia copper-gold deposits.

The two projects together provide Alice Queen with what is expected to be a significant unexplored porphyry ground in Australia.

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Mon, 14 Nov 2016 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168906/alice-queen-ltd-to-explore-additional-copper-gold-porphyry-targets-168906.html
<![CDATA[News - Alice Queen eyes copper-gold anomalies at Looking Glass ]]> https://www.proactiveinvestors.com.au/companies/news/167473/alice-queen-eyes-copper-gold-anomalies-at-looking-glass-167473.html The program will consist of two 750 metre holes targeting two discrete magnetic anomalies.

The program is supported by a co-funding grant under the New Frontiers Co-operative Drilling Program for up to 50% of the drilling costs, up to the maximum grant amount of $190,000.

The Looking Glass tenement lies within the geological and tectonic terrain known as the Lachlan Orogen (formerly Lachlan Fold Belt).

Lithologically, the Lachlan Orogen is comprised of deformed sedimentary rocks, and mafic volcanics that accumulated during the early Palaeozoic.

Alice Queen had completed airborne geophysics over the Looking Glass exploration licence in February 2015.

Subsequent modelling of the magnetic data resolved a composite anomaly beneath the cover rocks which is consistent with the porphyry deposit model.

The company’s first drill hole will target the central area of the large (5 kilometres diameter) volcanic feature.

Pending the measures of success below, a second hole will be drilled on a smaller and possibly shallower magnetic target peripheral to the large feature.

Alice Queen’s shares were last trading at $0.038, up 9% intraday.

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Mon, 17 Oct 2016 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167473/alice-queen-eyes-copper-gold-anomalies-at-looking-glass-167473.html
<![CDATA[News - Alice Queen gets ready to drill after oversubscribed placement ]]> https://www.proactiveinvestors.com.au/companies/news/167127/alice-queen-gets-ready-to-drill-after-oversubscribed-placement-167127.html Alice Queen Ltd (ASX:AQX) has closed an oversubscribed share placement to raise $868,500 at an issue price of $0.03 per share.

The funds raised through the issue will be applied to repay existing liabilities and the ongoing exploration at the company’s flagship Horn Island gold project in the Torres Strait.

The potential for a viable operation is being considered after defining a JORC Exploration Target of 100,000 to 190,000 ounces of gold grading 1.6 to 2.4 g/t gold for the Pioneer Lode.

Alice Queen has identified numerous gold bearing veins from recent surface mapping and sampling programs.

The company is also commencing drilling at Looking Glass, its porphyry target on the Molong Volcanic Belt of New South Wales.

Phil Harman, chairman, commented: “It is encouraging to see such strong support of the company, not only from our existing group of shareholders, but also from some new and strategically important investors.”

“It is also very pleasing to see our managing director, Andrew Buxton, demonstrating his strong leadership and strong belief in Alice Queen, by contributing a significant amount of his own money to the placement.”

“With the commencement of drilling at Looking Glass now imminent, these are exciting times for the company.”

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Mon, 10 Oct 2016 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167127/alice-queen-gets-ready-to-drill-after-oversubscribed-placement-167127.html
<![CDATA[News - Alice Queen Ltd considering open pit gold mining at Horn Island ]]> https://www.proactiveinvestors.com.au/companies/news/165462/alice-queen-ltd-considering-open-pit-gold-mining-at-horn-island-70566.html Alice Queen Ltd (ASX:AQX) has indicated the potential for a small scale open pit mining operation at its Horn Island Gold Project in the Torres Strait, Queensland.

The potential for a viable operation has been considered after defining a JORC Exploration Target of 100,000 to 190,000 ounces of gold grading 1.6 to 2.4 g/t gold for the Pioneer Lode.

The Pioneer Lode has been modelled to a maximum depth of 170 metres below surface and consists of mineralisation intersected from the phase 1 drilling program.

Highlights from phase 1 drilling include 10 metres at 4.42 g/t gold from 104 metres and 10.8 metres at 2.29 g/t gold from 59.2 metres.

Interestingly, the Pioneer Lode exploration target is a very small part of the Horn Island mineral field and even smaller part of Alice Queen’s Torres Strait ground holding.

A current mapping and sampling program for the entire Horn Island mineral field is almost complete has resulted in the identification of a number of drill targets.

The company is planning a follow up diamond drilling program of eight holes for circa 1,500 metres to assist in establishing a maiden mineral resource at Horn Island.

 

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

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Fri, 19 Aug 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165462/alice-queen-ltd-considering-open-pit-gold-mining-at-horn-island-70566.html
<![CDATA[News - Alice Queen Ltd in cash raiser for Horn Island gold project ]]> https://www.proactiveinvestors.com.au/companies/news/131701/-alice-queen-ltd-in-cash-raiser-for-horn-island-gold-project-69627.html Horn Island gold hopeful, Alice Queen Ltd (ASX:AQX) will look to raise about $860,000 through a placement at $0.03 each for a new drilling program.

The first found gold mineralisation at the Torres Strait islands project off the tip of Australia but the grades as a whole were sub-economic.

However, certain zones of mineralisation within the mineralised wedge appear to be potentially economic grade.

Work underway will find out whether there is potential for a small scale open pit operation. If positive, this would mean a smaller and cheaper processing plant required to generate cash flow.

The Horn Island mine area has existing infrastructure and is well serviced by all-weather roads, fresh water supply, existing tailings dam, regional airport, deep water port, access to heavy earth moving machinery and various accommodation options.

The cost of a small scale gold processing plant at Horn Island could as a result be cost effective.

The company also has a project located 25 kilometres northwest of Coonabarabran in central New South Wales that has a porphyry target, in a district with known porphyry deposits.


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

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Tue, 05 Jul 2016 14:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131701/-alice-queen-ltd-in-cash-raiser-for-horn-island-gold-project-69627.html
<![CDATA[News - Alice Queen adds to gold quest with Kaurareg Aboriginal People ]]> https://www.proactiveinvestors.com.au/companies/news/131700/-alice-queen-adds-to-gold-quest-with-kaurareg-aboriginal-people-67319.html Alice Queen (AQX:ASX) has added a further exploration license to its quest for gold in the Torres Strait islands off the tip of Australia.

The exploration is a partnership between Alice Queen with 84.5% interest and the Kaurareg Aboriginal People.

Recent drilling at the old Horn Island Gold mine in North Queensland by the company in 25 years unearthed gold hits including 22 metres at 1.56g/t gold and 108g/t gold.

The Kaurareg Archipelago, otherwise known as the Prince of Wales Island group of islands, is made up of seventeen islands.

The new EPM 25418 “Kaiwalagal” in the Torres Strait now granted to the JV covers 83 sub-blocks or 249 square kilometres and comprises six islands including the largest Torres Strait Island, Muralug.

Historically, there has been small scale gold mining on most of the islands and the new exploration license adds to the Horn Island gold project, where gold was discovered on the island in the late 1800's.

Current drilling has found visible gold and high grades of 16.9 grams per tonne, 108 g/t and 16.6g/t, at shallow depths.

 

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

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Thu, 03 Mar 2016 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131700/-alice-queen-adds-to-gold-quest-with-kaurareg-aboriginal-people-67319.html
<![CDATA[News - Alice Queen jettisons uranium for gold, hits keep coming ]]> https://www.proactiveinvestors.com.au/companies/news/131699/alice-queen-jettisons-uranium-for-gold-hits-keep-coming-67221.html Alice Queen's (ASX:AQX) decision to jettison uranium exploration is paying off after more drill holes at Horn Island gold project in the Torres Strait have returned significant gold hits.

Formerly Callabonna Resources, Alice Queen is undertaking the first drilling at the abandoned Horn Island Gold mine region of North Queensland in 25 years and with results like 22 metres at 1.56g/t gold and 108g/t gold, a fascinating journey maybe unfolding.  

Gold was discovered on the island in the late 1800's. Current drilling has unearthed visible gold and high grades of 16.9 grams per tonne, 108 g/t and 16.6g/t, found at shallow depths.

Demonstrating why Alice Queen's managing director and major shareholder Andrew Buxton would no doubt be chuffed about the potential gold endowment of the project.

Buxton was previously managing director of Kidman Resources (ASX:KDR).

In fact, the thesis is that the Horn Island high-grade gold, discovered in surface sampling, continues at depth.

Today's results provide plenty of encouragement, particularly hole 4 where visible gold was noted in both structures included 3.9 metres at 8.41 g/t gold from 121.4 metres down hole and included a 2.5 metre hit at 12.89 g/t gold from 122.8 metres down hole.

There are further core samples from later holes to be analysed, so there is news flow to follow.

While still early days, going deeper at the old gold mine renders Alice one to watch.

 

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

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Fri, 26 Feb 2016 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131699/alice-queen-jettisons-uranium-for-gold-hits-keep-coming-67221.html
<![CDATA[News - Callabonna Resources to drill manganese targets in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/131698/callabonna-resources-to-drill-manganese-targets-in-mali-59188.html Callabonna Resources (ASX:CUU) has arranged for drilling to commence at its Ansongo Manganese project in Eastern Mali.

The contractor is part of the Project Production International Group, which has extensive operating experience in Mali, Burkina Faso and Niger.

The first stage of drilling scheduled to commence next month will be diamond drilling from the top of Hill D to obtain core for assay and structural studies, as well as reverse circulation drilling elsewhere on the mining lease.

This work will be part of a larger drilling program and scoping study to be completed in 2015 and aimed to produce a resource estimate.

The field program is designed and will be funded and supervised by Callabonna as part of its earn in to acquire 51% of Ansongo Limited.

Ansongo is located about 60 kilometres from the borders with Burkina Faso and Niger and connected by good roads to the south-west African coast.

Manganese oxide outcrops extensively in the south east part of the mining lease in eight hills known as Takavasita that had some previous exploration and mining of manganese oxide.

Unexplored areas of the mining lease also contain manganese in outcrop 15 kilometres to the west in hills at Agualla and Tondibi.

Ansongo Limited owns a 70.4% interest in Sahara Manganese that owns Mali Manganese, which in turn owns the Ansongo manganese mining lease in Eastern Mali.


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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Tue, 25 Nov 2014 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131698/callabonna-resources-to-drill-manganese-targets-in-mali-59188.html
<![CDATA[News - Callabonna Resources earning controlling stake in manganese project in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/131697/callabonna-resources-earning-controlling-stake-in-manganese-project-in-mali-58337.html Callabonna Resources (ASX:CUU) can potentially earn up to 70.4% interest in the Ansongo Manganese Mine Lease in Mali after varying the original development agreement.

Ansongo is located about 60 kilometres from the borders with Burkina Faso and Niger and connected by good roads to the south-west African coast.

Manganese oxide outcrops extensively in the south east part of the mining lease in eight hills known as Takavasita that had some previous exploration and limited mining of manganese oxide.

Less well explored areas of the Project mining lease also contain manganese in outcrop 15 kilometres to the west in hills at Agualla and Tondibi which is as yet unexplored.

Plans to commence drilling are well advanced and expected to commence in November.

This will focus on a 2 kilometre Takavasita part of the Project mining lease where an initial Exploration Target has been estimated at 5 million to 15 million tonnes at 35-45% manganese.

A mine scoping study is targeted for the end of 2015.

Under the original Share Purchase and Sale Agreement, Callabonna would acquire 17.2% of Ansongo Limited after spending $3.5 million or achieving a Maiden Resource of at least 5 million tonnes at 35% manganese oxide.

The company can now earn a further 33.8% of Ansongo Limited over a 48 month period through project related expenditure at a rate of A$1million per 4% interest, or about $11.95 million.

It also has a pre-emptive right over the remaining 49% interest in Ansongo Limited.

Ansongo Limited owns a 70.4% interest in Sahara Manganese Limited that owns Mali Manganese SA, which in turn owns the Ansongo manganese mining lease in Eastern Mali.

The other two project shareholders (through Sahara Manganese Limited) own manganese smelters with off take rights to future production from the project.



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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Tue, 21 Oct 2014 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131697/callabonna-resources-earning-controlling-stake-in-manganese-project-in-mali-58337.html
<![CDATA[News - Callabonna Resources to carry out manganese drilling in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/131696/callabonna-resources-to-carry-out-manganese-drilling-in-mali-57578.html Callabonna Resources (ASX:CUU) is planning to carry out drilling to test an Exploration Target of 5 million to 15 million tonnes at between 35% and 45% manganese at Mali Manganese’s Ansongo Project in Mali.

The company is managing exploration at Ansongo to earn a 12.1% interest in the project.

Mali Manganese has also received a letter from the Mali Ministry supporting resumption of mining at the permit.

Drilling will be carried out in two stages over the southern part of the Takavasita Hills at Ansongo to test for high grade manganese oxide mineralisation.

The first stage will confirm the existence and nature of the mineralisation and consist of about 2,000 metres in total while the second is aimed at resource definition which will consist of greater than 6,000 metres.

The Takavasita hills are located in the eastern part of the permit and the initial Exploration Target is concerned only with hills D, E, F, G and H where there is adequate topographic control.

In addition to the Exploration Target drilling, previous work has located manganese mineralisation north of Hill D. Limited reconnaissance drilling is planned to assess the potential of this mineralisation.

Black manganese oxide with substantial thickness and grade of more than 40% manganese have been observed in the Takavasita Hills along a strike length of 3 kilometres.a

Ansongo covers 212 square kilometres and there is exploration upside in the 15 kilometres of prospective trend continuing west of Takavasita defined by intermittent outcrop of manganese oxide through sand cover that remains untested by drilling.

It is located in close proximity to major road networks in West Africa and 80 kilometres from the proposed West African rail network extension to the Tambao Mine.



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Mon, 15 Sep 2014 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131696/callabonna-resources-to-carry-out-manganese-drilling-in-mali-57578.html
<![CDATA[News - Callabonna Resources assays 36% manganese in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/131695/callabonna-resources-assays-36-manganese-in-mali-56531.html Callabonna Resources (ASX:CUU) has assayed an unbeneficiated bulk sample of 36% manganese, which is from the Ansongo Manganese Project in Mali.

The assay came from a 280 tonne bulk sample from the Ansongo deposit which has been shipped to a smelter in India.

The sample suggests a high grade a high grade manganese and lower silica product could be achieved by Dense Media Separation, with a 5 tonne sample to be sent for testing.

Callabonna currently holding an equivalent interest of 2.1% in the project and is earning another 10% by spending on exploration.

The Ansongo Project is located in north-east Mali close to the borders with Burkina Faso and Niger and connected by goods roads to the south-west African coast


36% manganese sample breakdown

The sample was taken from 10,000 to 15,000 tonnes of crushed and screened manganese that was stockpiled during the construction of access roads on the Takavasita hills in 2011-2012.

Callabonna said that the sample stockpile was not beneficiated in any way.

The sample consisted of approximately 98% lump manganese varying between 1cm and 10cm in diameter.

- 36% manganese;
- 4.6% iron;
- 18% silica;
- 9.8% alumina; and
- 0.1% phosphorus.

 

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Mon, 28 Jul 2014 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131695/callabonna-resources-assays-36-manganese-in-mali-56531.html
<![CDATA[News - Callabonna Resources acquires Moroccan manganese permits ]]> https://www.proactiveinvestors.com.au/companies/news/131694/callabonna-resources-acquires-moroccan-manganese-permits-41211.html Callabonna Resources (ASX: CUU) has signed a binding, conditional sale agreement to acquire Hong Kong company Element Morocco, which holds six Moroccan permits prospective for manganese.

Element Morocco subsidiary Element Commodities Morocco SA (ECMSA) holds an 80% working interest in the six permits while the Moroccan National Organisation for Hydrocarbon and Mining has a 20% interest.

Callabonna will pay $1 million for Element Morocco of which a $300,000 cash deposit was paid upon signing of the Memorandum of Understanding (refundable if the transaction does not complete).

The balance of $200,000 cash and 12.5 million Callabonna shares is payable at completion.

Vendor Gregor Theiser or his nominee will also be appointed to the Callabonna board at completion.

In addition to the six key permits at Tasdremt, ECMSA and affiliated entities have certain interests in up to 13 other permits in the neighbourhood and in northern Morocco that are considered prospective for manganese, tungsten and base metals.

Following completion of the transaction, Callabonna intends to further review the prospectivity of these areas and, if considered desirable, to continue discussions with ONHYM to formalise title to some or all of these areas.

However, the focus is on the six Tasdremt permits and the opportunity to establish an operation in Morocco, which is considered to be an excellent destination for exploration and mining investment.

The company is also continuing to investigate other assets and opportunities in West Africa, including other assets held by vendor and his related entities, consistent with its previously announced strategy.

 

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Mon, 25 Mar 2013 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131694/callabonna-resources-acquires-moroccan-manganese-permits-41211.html
<![CDATA[News - Callabonna Resources adds Moroccan manganese flavour to portfolio ]]> https://www.proactiveinvestors.com.au/companies/news/131693/callabonna-resources-adds-moroccan-manganese-flavour-to-portfolio--39505.html Callabonna Resources (ASX: CUU) is moving into Morocco with the acquisition of an interest in 19 exploration tenements, 12 of which are prospective for manganese, for A$1 million in cash and shares.

The company has entered into a binding, conditional memorandum of understanding to acquire 100% of Element Morocco Limited, a Hong Kong incorporated company that holds the mining interests.

The deal will give Callabonna an 80% interest in six mining concessions and a 100% interest in 13 exploration concessions.

Morocco is emerging as a significant manganese producer exceeding 60,000 tonnes per annum of exports to established markets including China, the U.S., India and Spain.

The 306 square kilometres of tenements have shown potential for excellent manganese grades and are early stage exploration projects with potential upside.

The main work to date has been on the southern areas where the six mining concessions are located near the old Tasdremt manganese mine.

The Tasdremt concessions are well located with good road access 150 kilometres from the Port of Agadir and potential for extracting manganese oxide by open pit mining.

Tasdremt is considered the most advanced because it has had historical drilling and trench sampling by Element Morocco in 2012.

Exploration in the mid 1970s reported manganese grades typically in the range of 30% to 40%.

Trench samples from 2012 have confirmed these grades and have also reported lead values in the range of 3% to 6% along with silver contents of around 20 grams per tonne (g/t).

Exploration potential exists in two areas on the Tasdremt concessions.

Ore exists at or near surface over a large flat area near where Element Morocco conducted limited trenching in 2012, and the ‘middle horizon’ at a depth of around 20 metres over an area of 500 by 300 metres has been defined by previous drilling and adits in 1975-76.


Placement

Callabonna also plans to undertake a placement of up to 20 million shares to sophisticated investors at $0.04 per share to raise up to $800,000.

Of the money raised, $500,000 will be utilised for the acquisition consideration and $300,000 will be allocated to first pass exploration expenditure and costs of the transaction.


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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Wed, 13 Feb 2013 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131693/callabonna-resources-adds-moroccan-manganese-flavour-to-portfolio--39505.html
<![CDATA[News - Callabonna Resources to reveal details of transaction and capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/131692/callabonna-resources-to-reveal-details-of-transaction-and-capital-raising--39321.html Callabonna Resources (ASX: CUU) has placed its shares in an ASX trading halt today as it prepares to release an announcement on a proposed transaction and a capital raising.

The company revealed in its December 2012 quarterly it had received several expressions of interest to acquire its Georgetown Gold Project, located in the Georgetown Goldfield in Queensland.

Callabonna is also in the process of finalising the sale and purchase agreement for the sale of its Weipa Bauxite Project in Queensland to McKay Brooke Resources.

The company is planning a capital raising to fund continuing operations and the evaluation of new opportunities.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 11 February 2013.


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, 08 Feb 2013 09:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131692/callabonna-resources-to-reveal-details-of-transaction-and-capital-raising--39321.html
<![CDATA[News - Callabonna Uranium on track to drill large uranium anomaly at Five Mile Creek ]]> https://www.proactiveinvestors.com.au/companies/news/131691/callabonna-uranium-on-track-to-drill-large-uranium-anomaly-at-five-mile-creek-25638.html Callabonna Uranium (ASX: CUU) is all set to commence drilling at the Five Mile Creek prospect to follow up on a Mobile Metal Ion survey which identified a large uranium anomaly.

Will all required permits received, drilling at Five Mile Creek is expected to begin in early April 2012. The drilling contract has been awarded to Adelaide-based Underdale Drilling.

No previous exploration holes have been drilled in the area or nearby.

A total of 22 drill holes are planned over the anomaly, which is 4,000 metres long and up to 1,000 metres wide.

Drilling will test the mineralisation to determine whether it contains ore grade uranium at a mineable thickness.

With nearby granite outcrops containing secondary uranium, proving the presence of a local uranium source, Callabonna is hopeful of finding near surface concentration.

The Arunta Mt Denison project, which includes Five Mile Creek, is located 250 kilometres northwest of Alice Springs in the Northern Territory.

Significantly, the company believes mineralisation Five Mile Creek could bear similarities to Deep Yellow's (ASX: DYL) nearby Napperby project, which hosts 7.39 million pounds of uranium.

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Thu, 23 Feb 2012 15:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131691/callabonna-uranium-on-track-to-drill-large-uranium-anomaly-at-five-mile-creek-25638.html
<![CDATA[News - Callabonna Uranium drilling targets sandstone hosted uranium at Curnamona South ]]> https://www.proactiveinvestors.com.au/companies/news/131689/callabonna-uranium-drilling-targets-sandstone-hosted-uranium-at-curnamona-south-19767.html Callabonna Uranium (ASX: CUU) has commenced drilling at its Curnamona South uranium project in the Frome Embayment, South Australia, targeting sandstone hosted uranium.

The uranium was identified in palaeo-channels interpreted from the Frome Airborne Electromagnetic (EM) survey finalised in in April 2011.

Callabonna has interpreted potential northward extensions of three palaeo-channels, the Curnamona channel which is host to known uranium at Goulds Dam to the south, the Lake Namba channel and the Yarramba channel.

The proposed drilling will initially test this interpretation of the Curnamona and Lake Namba channels on cross section drill lines across the inferred channels.
 Some previous drilling in the area had indicated elevated uranium and partial oxidation of the sequence nearby.

The current drilling will focus on areas not previously drilled and will infill other areas. The actual number of holes drilled will depend on progressive results.

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Mon, 19 Sep 2011 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131689/callabonna-uranium-drilling-targets-sandstone-hosted-uranium-at-curnamona-south-19767.html
<![CDATA[News - Callabonna Uranium identifies high grade gold from rock chips at Delaney ]]> https://www.proactiveinvestors.com.au/companies/news/131688/callabonna-uranium-identifies-high-grade-gold-from-rock-chips-at-delaney-15814.html Callabonna Uranium (ASX: CUU) has received assays revealing up to 162 grams per tonne from rock chip samples collected from across the lease area on the granted Delaney Gold project in Georgetown, North Queensland.

The results show the area has high potential for additional gold mineralisation away from that already defined by previous drilling.

Reconnaissance exploration was undertaken in the first week of April to conduct first pass sampling over recently granted properties, with a quarter of the samples taken assaying over 100 grams per tonne gold.

The company said the samples were "generally of gossanous quartz reefs which are relatively continuous and are up to several metres wide at surface."

Access was restricted due to recent heavy rains. However, results show that the trends are highly mineralised with one reef returning samples of between 0.2 – 162 g/t gold. This area lies beyond the extent of soil sampling and has not been drill tested.

Areas to the north of the lease will also be soil sampled to generate drill targets and define the zones of gold mineralisation.

Callabonna holds 11 exploration permits (four granted) in the Georgetown region. These projects are prospective for uranium, gold, base metals and Rare Earth Elements (REEs).

The Delaney Gold project bears many similarities to the Electric Light Gold deposit, an open pit deposit located 15 km northeast of Georgetown, and the company said further work to establish controls on the higher grade mineralisation intersected and found in surface rock chips is warranted.

The company is aiming to define a significant resource of both oxide and sulphide gold mineralisation at the Delaney Gold project combined with the Georgetown Central Project. Callabonna is currently seeking a Joint Venture Partner for these projects.

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Thu, 28 Apr 2011 14:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131688/callabonna-uranium-identifies-high-grade-gold-from-rock-chips-at-delaney-15814.html
<![CDATA[News - Callabonna Uranium shares soar on visible secondary uranium at Oak River ]]> https://www.proactiveinvestors.com.au/companies/news/131687/callabonna-uranium-shares-soar-on-visible-secondary-uranium-at-oak-river-15535.html Callabonna Uranium (ASX: CUU) has identified visible secondary uranium mineralisation from reconnaissance field work on the recently granted Oak River project in the Georgetown area of North Queensland.

This work confirms the prospectivity of the project area and region for volcanogenic uranium (U3O8) deposits like those of the 727 million pounds U3O8 (>0.2%) Streltsovskoye District of western Russia.

The mineralisation (torbernite) is in the basal sandstones of the Newcastle Range Volcanics. Assay results from this sampling work are expected within next 4 weeks.

Historical rock chip results from the area have assayed up to 0.27% uranium (U3O8) despite equilibrium study work suggesting substantial surficial leaching of uranium.

Callabonna holds 11 exploration permits (4 granted) in the Georgetown region. Interestingly, these projects are prospective for uranium, gold, base metals and Rare Earth Elements (REEs).

The Oak River area was previously explored for uranium in the 1970s by German company Urangesellschaft who mapped the edge of the caldera area in detail, dug numerous costeans and drilled 28 holes targeting the basal sediments of the Newcastle Range Volcanics.

Callabonna will conduct detailed mapping to highlight the more significant structures and detailed high resolution ground radiometrics in the central caldera area to highlight potential leakage along structures.

The highest priority targets will be drill tested once structural zones have been prioritised.

Callabonna Uranium shares jumped 50% today to $0.12 in intraday trading.

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Fri, 15 Apr 2011 14:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131687/callabonna-uranium-shares-soar-on-visible-secondary-uranium-at-oak-river-15535.html
<![CDATA[News - Callabonna Uranium rock chips return up to 2% rare earth oxides at Gilbert River ]]> https://www.proactiveinvestors.com.au/companies/news/131686/callabonna-uranium-rock-chips-return-up-to-2-rare-earth-oxides-at-gilbert-river-11497.html Callabonna Uranium (ASX: CUU) has discovered rare earth element (REE) mineralisation up to 2% Total Rare Earth Oxides (TREO) at its Gilbert River Lease in Queensland (EPM 16256) after a helicopter supported rock chip sampling program followed up radiometric anomalies for uranium mineralisation.

Despite only 10 of the full suite of 17 REE’s being assayed for, 7 samples returned between 0.5 – 2% TREO.A new tenement application surrounding EPM 16356 has been submitted to ensure full coverage over mineralised areas.

In 2008 a reconnaissance sampling team following up radiometric anomalies by helicopter within EPM 16256 found the radiometric response was due to what appeared to be heavy mineral concentrates in Jurassic sandstones which were incised by modern drainages.

The initial assays were above detection limit on some elements and more recent re-assay of these samples for REE’s returned highly anomalous results with 7 of the samples returning over 0.5% TREO’s and some as high as 1.93% TREO’s despite the fact that only 10 of the 17 elements were assayed for.

These results were from basal sediments (Jurassic) sitting directly on top of Proterozoic basement. The anomalous results come from a basal 5 metre thick sandstone unit.

The strike extent of this unit is not known and it is likely that the anomalous results are caused by heavy mineral concentrates in the sandstone unit. At this stage the strike extent of the unit and the mineralised part of it are unknown.

Callabonna Uranium (through its wholly owned subsidiary Consolidated Exploration NQ Pty Ltd) is the 100% owner of EPM 16256 and has also applied for a new EPM of 71 subblocks surrounding EPM 16256 to ensure complete coverage of areas of potential REE minerlisation.

Further work is required to map out the mineralised unit and sample it for its entire outcrop extent to understand the size potential of the REE mineralisation.

Several other areas with untested radiometric anomalies associated with the younger sandstones are yet to be followed up in this area. This suggests there is potential for a considerable extent of this mineralised material within EPM 16256 and surrounding areas.

On October 22, laboratory assay results for selected rock chips obtained by Callabonna at the Denison Project in the Northern Territory, yielded uranium and phosphate rich rocks with significant uranium and rare earth oxide levels.

CUU has a market capitalisation of A$14.71 million and had 2.65 million cash at the end of the September quarter. CUU shares rose 9% to 1.2 cents in trading today.

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Mon, 08 Nov 2010 15:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131686/callabonna-uranium-rock-chips-return-up-to-2-rare-earth-oxides-at-gilbert-river-11497.html
<![CDATA[News - Callabonna Uranium assays confirm uranium and rare earth oxides at Denison ]]> https://www.proactiveinvestors.com.au/companies/news/131685/callabonna-uranium-assays-confirm-uranium-and-rare-earth-oxides-at-denison-11059.html Laboratory assay results for selected rock chips obtained by Callabonna Uranium (ASX: CUU), at the Denison Project in the Northern Territory, have yielded uranium and phosphate rich rocks with significant uranium and rare earth oxide levels.

The company said this mineral association is similar to that found at Arafura Resources' (ASX: ARU) Nolans Bore located 90 kilometres southeast of Denison.

Callabonna said uranium mineralisation associated with granitic rocks was also discovered adjacent to the rare earth mineralisation.

A soil sampling survey is to commence within weeks over covered areas, which Callabonna hopes will delineate potential areas of mineralisation, with soil survey results combined with ground geophysics to be used to define the drill targets.

The survey will use a highly sensitive partial extraction method that relies on detecting highly mobile metal ions which can travel through shallow cover sequences highlighting mineralisation below.

Callabonna added the success of the method may be impacted by heavy rainfall which can ‘flush’ away these mobile ions, which is why, according to the company, the survey has been delayed several times this year due to unseasonal rain storms.

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Fri, 22 Oct 2010 10:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131685/callabonna-uranium-assays-confirm-uranium-and-rare-earth-oxides-at-denison-11059.html
<![CDATA[News - Callabonna Uranium sees gold resource potential at Delaney project ]]> https://www.proactiveinvestors.com.au/companies/news/131683/callabonna-uranium-sees-gold-resource-potential-at-delaney-project-7982.html Callabonna Uranium (ASX: CUU) has identified substantial potential for a gold resource associated with the Delaney Gold Project following a detailed review of historical exploration data in its Hatch exploration permit application.

The Delaney Gold Project is located within Callabonna’s 100% owned Exploration Permit for Minerals application (EPMA) 18181, in the Georgetown Region of North Queensland.

It lies within the North-South trending Delaney Fault and is immediately north of the Electric Light gold deposit (owned by Deutsche Rohstoff Australia Pty Ltd).

This exploration permit application is part of Callabonna’s extensive Georgetown exploration portfolio pegged initially for their uranium potential.

Previous work on the project yielded rock chip samples grading up to 202.5 g/t gold and historical drilling (18 RC holes in total) returned high grade gold intercepts including:

- DC1 returning 9 metres @ 3.81 g/t gold;
- DCV 1 returning 6 metres @ 4.1 g/t gold;
- DCV 2 returning 8 metres @ 3.88 g/t gold; and
- DCV returning 12 metres @ 10.1 g/t gold.

Callabonna believes the potential exists for a modest sized commercial gold resource within the Delaney Project area itself and that several untested soil geochemical anomalies offer further potential for economic gold.

There are two discrete areas of anomalous gold in soils (northern and southern anomalies). The northern anomaly remains open to the northeast whilst the southern anomaly is yet to be drill tested.

Stephen McCaughey, managing director, said there is significant potential within the project area for discovery of new areas of high grade gold mineralisation as well as for extending the known mineralisation to define a JORC resource "within 12 months of grant of the lease and with a minimal amount of exploration expenditure."

The company is seeking a Joint Venture Partner to contribute to the cost of this work in return for a share of the project.

This project is part of a growing portfolio of advanced copper and gold projects being accumulated by Callabonna through its uranium exploration activities within the historical Georgetown mining province.

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Fri, 18 Jun 2010 11:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131683/callabonna-uranium-sees-gold-resource-potential-at-delaney-project-7982.html
<![CDATA[News - Callabonna Uranium secures Dagworth Uranium Prospect ]]> https://www.proactiveinvestors.com.au/companies/news/131682/callabonna-uranium-secures-dagworth-uranium-prospect-6683.html Callabonna Uranium (ASX: CUU) has announced it is the successful applicant for Exploration Permit for Minerals (EPMA) 18625, in the Georgetown Region of North Queensland.

The Queensland Government confirmed Callabonna's uncontested application which is adjacent to the company's existing Neptune exploration permit application (EPMA 18028) and covers the Dagworth Uranium Prospect.

Dagworth underwent initial vigorous exploration during the 1970’s by Minatome (later Pechiney Australia).

That work was focused on identifying areas of high grade economic uranium mineralisation and the fact that 89 holes were drilled in the area shows how encouraging the results were.

The data reviewed and captured digitally by Callabonna included 89 drill holes totaling 9,813 metres of drilling with XRF assays and down-hole gamma logs with estimated uranium calculations. This drilling was focused on an area covering approximately 15 km2.

Anomalous uranium intercepts occur in almost all drill holes and over 50% of holes contain intercepts exceeding 300ppm uranium from either assays or gamma log estimations.

Additionally, significant copper was both mapped and drilled within the Neptune and Dagworth lease areas and tends to occur as sandstone hosted copper at the base of the Newcastle Range Volcanics.

The presence of up to 1% copper in Dag D14 and known gold occurrences within the Neptune lease associated with hematite dusting may also indicate that Dagworth has potential for gold mineralisation. No gold assays were conducted on any of the historical surface or drill samples.

The company said its specific strategy for Dagworth will be to further evaluate the historical exploration work including accessing both drill chips and drill core for analysis.

This will highlight areas of further potential for high grade uranium mineralisation in and around the Dagworth Prospect. It will also assist in the development of targeting strategies for the 10 kilometres of prospective structural corridor to the south.

This area of the Georgetown Inlier has long been recognised as a gold province. Callabonna believe the Dagworth area is also prospective for gold mineralisation however none of the previous drilling or surface sampling conducted by Minatome was analysed for gold.

The company said any sample material still available from this historic work will be analysed for gold.

Additionally Callabonna will be investigating methods for highlighting potential uranium mineralisation at depth.

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Fri, 23 Apr 2010 12:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131682/callabonna-uranium-secures-dagworth-uranium-prospect-6683.html
<![CDATA[News - Callabonna Uranium announces results from field work on Denison Project ]]> https://www.proactiveinvestors.com.au/companies/news/131681/callabonna-uranium-announces-results-from-field-work-on-denison-project-4052.html Australian-listed uranium explorer Callabonna Uranium (ASX: CUU) has announced highly anomalous Uranium and REE results from first pass reconnaissance field work on the Denison Project in the Northern Territory.

The results of rock chip samples taken during first pass reconnaissance field work on the recently granted Denison lease returned highly anomalous results ranging from 268ppm to 979ppm U3O8 with elevated rare earth elements.

During the afternoon trade, shares in Callabonna increased slightly by 6.3% to 1.7c.

The samples will be studied further to understand the nature of the uranium mineralisation and the uranium minerals present.

A single grab sample from waste dumps at the old Wolfram Hill workings returned very high copper results with anomalous gold.

Callabonna has been building an extensive tenement position within the under explored Arunta region and currently has 6 leases covering 2,328km2 in area.

The company holds six mineral leases covering some 2,328 square kilometres in the Arunta Region of Central Australia. All of these leases are 100% owned by Callabonna with the exception of Mt Hay, which is subject to a farm-in Joint Venture with NuPower Resources (ASX: NUP).

Callabonna geologists have undertaken a first pass reconnaissance field program on the granted leases within the Arunta region. Rock chip samples taken on this first pass program from the Denison lease have returned uranium oxide results of between 268ppm and 979ppm U3O8.

These rock chip samples were predominantly veined and altered granitic gneisses of Proterozoic age and also contained elevated Rare Earth Elements.

These results suggest there is potential for primary uranium mineralisation hosted within the Proterozoic aged granites of the area.

Further work will be conducted to understand the nature and distribution of uranium mineralisation in these granitic gneisses and the species of uranium minerals present and their potential processing characteristics.

Reconnaissance work on the Mt Doreen project did not locate the source of historical elevated uranium assays in the Mt Doreen Granite, although it must be remembered this was only a first pass reconnaissance program.

A sample taken from the Wolfram Hill workings in the north of the lease area returned copper assays of 15.1% copper, 0.185 g/t gold and 45 g/t silver.

All available data from the Wolfram Hill area will be reviewed in detail over the summer to determine nature of the
mineralisation and what potential remains for economic mineralisation.

The Mount Hay lease is the subject of a Farm-In JV Agreement with NuPower where NuPower have the right to earn 51% of the project by spending $500,000 towards exploration within the first 2 years and, subject to Callabonna not exercising a right to contribute 49% towards exploration, can earn a further 29% by spending $2 million on exploration within 5 years of commencement.

Meanwhile, work completed on the Undoolya lease has not led to any significant uranium mineralisation being located and the poor development of drainages in the area has led to the lease being downgraded. It will be reviewed for possible relinquishment.

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Tue, 05 Jan 2010 11:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131681/callabonna-uranium-announces-results-from-field-work-on-denison-project-4052.html
<![CDATA[News - Callabonna Uranium announces encouraging results of drilling at Curnamona Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/131680/callabonna-uranium-announces-encouraging-results-of-drilling-at-curnamona-uranium-project-3534.html Callabonna Uranium (ASX: CUU) has received the results for the first eight drillholes ever drilled testing palaeo-channels in the Curnamona North Uranium Project in South Australia.

The Curnamona North Uranium Project is part of Callabonna’s overall Frome Embayment tenement holding (>7,000 km2) in South Australia.

News of the results pushed Callabonna shares up 4.3% to 2.4c.

The Frome Embayment contains a large endowment of sediment-hosted uranium mineralisation, including known resources at Beverley, Honeymoon, Oban and 4 Mile, as well as recently discovered mineralisation at Beverley extensions and Junction Dam.

In 2007 an Airborne Electro-Magnetic survey was completed to delineate palaeochannels in the region for sandstone hosted uranium deposits. This AEM survey defined >150 kms of channel within the Curnamona North Project area and the first drill program ever to test this region was commenced by Callabonna in Late October.

CUN 005 intersected uranium up to 70ppm eU3O8 and confirmed the presence of thick reduced sand sequences in areas interpreted as channels from airborne electro-magnetics (AEM).

The result from CUN 005 is highly significant because it confirms that uranium mineralising processes are operating in these areas, the presence of reduced carbon rich sands where channels are interpreted and the nearest drilling along the same channel is some 13.5 kilometres to the north and 32 kilometres to the south.

Callabonna will continue to test the 150+ kms of palaeo-channels defined by AEM but will also design the remaining part of the program to systematically test the area around this highly significant result.The results for a further 9 drillholes are expected within the next 2 weeks.

Meanwhile, the company said extreme heat had forced the suspension of the drilling program until next year.

 

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Mon, 30 Nov 2009 12:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131680/callabonna-uranium-announces-encouraging-results-of-drilling-at-curnamona-uranium-project-3534.html
<![CDATA[News - Callabonna Uranium applies for additional geothermal licences in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/131679/callabonna-uranium-applies-for-additional-geothermal-licences-in-south-australia-3512.html Callabonna Uranium (ASX: CUU) has submitted an additional three Geothermal Exploration Licence Applications covering areas in the Frome Embayment in South Australia.

The GELAs were submitted through a wholly owned subsidiary Callabonna Energy, covering 1,479 km2.

Managing director Stephen McCaughey said the rationale behind these additional applications was to consolidate our position in this highly prospective geothermal terrain and supported the six GELs already granted to the Company in the same area.

Callabonna holds 6 granted Geothermal Exploration Licences covering 2,875km2 in the same area.

The GELs are 50 kilometres NE of Petratherm’s Paralana Project, while GELs are bisected by the proposed new 275 kV NEM powerline route connecting the geothermal projects of the Cooper Basin and Paralana to markets.

The proven high heat flows, 68.5oC per kilometre in Yerila 1 – one of the highest temperature gradients measured in Australia.

Interpreted thick insulating sediments to be confirmed by re-processing seismic data.

The Callabonna Energy project is located 50 kilometres to the north-east of Petratherm’s Paralana project and is under the proposed development route for a new 275 kV NEM powerline connecting the geothermal projects of the Cooper Basin and Paralana areas to potential markets.

The project is located within the South Australian Heat Flow Anomaly, where the crustal heat flow is interpreted to be almost double that seen elsewhere. The unusually high levels of uranium and thorium in the Proterozoic rocks in this region and in particular the Mount Painter Inlier are the likely explanation for this unusually high heat flow.

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Fri, 27 Nov 2009 11:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131679/callabonna-uranium-applies-for-additional-geothermal-licences-in-south-australia-3512.html