Proactiveinvestors Australia Accelerate Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Accelerate Resources Ltd RSS feed en Tue, 21 May 2019 20:48:17 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Accelerate Resources Ltd looks for JV partner amid operational and new project reviews ]]> https://www.proactiveinvestors.com.au/companies/news/214136/accelerate-resources-ltd-looks-for-jv-partner-amid-operational-and-new-project-reviews-214136.html • Survey results pending

• Strategic operational and new project opportunity reviews underway

• Partner being sought to fund drilling at Thomas Creek prospect

• Mt Read drilling and helicopter exploration backed by government grant

What does Accelerate do?

Accelerate Resources Ltd (ASX:AX8) is focused on in investing in Australian cobalt, copper and gold exploration projects in Australia. It is led by a team that includes managing director Yaxi Zhan and executive director Andrew Haythorpe.

Zhan has more than 11 years industry experience in Australia and China and was a financier for Sinosteel Corporation and Nornickel (GMK Noril'skiy nikel' PAO) (MCX:GMKN) (FRA:NNIC) (VIE:MNOD) (OTCMKTS:NILSY). Haythorpe has more than 30 years experience in the mining industry and was the managing director of Crescent Gold Limited, the Laverton gold mine owner snapped up by Focus Minerals Ltd (ASX:FML) (FRA:FZA).

What does Accelerate own?

The key asset is its Thomas Creek copper-cobalt porphyry target at the Mt Read project in western Tasmania.

Accelerate’s lead project features a 99-metre-wide copper zone at the 13 square kilometre porphyry target.

The company’s’ executive director Andrew Haythorpe spoke to the Proactive Investors Stocktube video channel about Accelerate’s drilling programs at Mt Read last November and highlighted the strong signs of mineralisation seen in the northern area and to the south in the Thomas Creek area.

Results are pending for a 415-line kilometre MagnetoTellurics airborne survey of about 89 square kilometres in the Thomas Creek area by Expert Geophysics.

The line-spaced survey part-funded by the Tasmanian government was to map resistivity contrasts to about a 1,000-metre depth.

A drill hole was completed at Thomas Creek to a 657-metre depth.

Two other holes completed in the government co-funded drilling program also intersected alteration that looked consistent with outer propylitic and intermediate phyllic zones associated with porphyry-style mineralisation.

Accelerate was encouraged, reporting last week: “The drilling successfully intersected a fertile mineralised system bearing abundant disseminated sulphides and containing several felsic-intermediate intrusions and sulphide veining with associated anomalous copper-cobalt grades.”

Best results included: 3 metres grading 2323ppm cobalt and 0.09% copper; 46 metres grading 0.11% copper; and 22 metres grading 193ppm cobalt and 0.01% copper.

Shareholder GTT Global Opportunities Pty Ltd and related parties are backing the company’s board, committing in December to “work with the company on the existing efforts to secure a potential joint venture partner to fund additional drilling of the highly prospective Thomas Creek porphyry target”.

The substantial shareholders which also include Mounts Bay Investments Pty Ltd, Syracuse Capital Pty Ltd, Murdoch Capital Pty Ltd and Kcirtap Securities Pty Ltd have an 11.27% collective stake in the company.

Accelerate is reviewing new project opportunities as it advances an agenda to explore and build its portfolio to attract large funding partners.

The company had $1.6 million cash on December 31 and expects $500,000 in cash outflows in the March quarter.

Inflection points

Completion of operational and project opportunity reviews

The potential pick-up of new projects or a strategic or joint venture partner

Continued progress at Thomas Creek prospect and Mt Read project

Executive director Andrew Haythorpe pleased with drilling efforts

“In all of the drilling that we’ve done so far we’ve found strong indications of mineralisation, be it nickel and cobalt to the north, and copper-gold-cobalt in the Thomas Creek area to the south,” Haythorpe told the Proactive Investors Stocktube video channel in the December quarter.

— with Tharun George, Danielle Doporto

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Wed, 06 Feb 2019 22:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214136/accelerate-resources-ltd-looks-for-jv-partner-amid-operational-and-new-project-reviews-214136.html
<![CDATA[News - Accelerate Resources completes deep hole targeting porphyry ]]> https://www.proactiveinvestors.com.au/companies/news/211622/accelerate-resources-completes-deep-hole-targeting-porphyry-211622.html Accelerate Resources Ltd (ASX:AX8) has completed deep drill hole TCDD004 at the Thomas Creek cobalt-copper porphyry target of its Mount Read project in western Tasmania.

TCDD004 ended at 657 metres depth and was targeting a coincident magnetic feature and IP anomaly porphyry target.

Chalcopyrite veining in several zones and visible copper sulphides from 199 to 298 metres confirm the geological potential and scale.

The diamond drill core is now being dispatched for cutting sampling and assaying.

READ: Accelerate Resources’ drilling intersects wide zone of visible copper at Thomas Creek

While assays are pending, near-term plans include detailed airborne geophysical surveys and detailed ground mapping and soil sampling.

Holes TCDD004 follows TCDD001, TCDD002 and TCDD003 targeting strong chargeability highs and resistivity lows within a large 3D inversion modelled IP chargeability anomaly.

These holes intersected a fertile mineralised system bearing abundant disseminated sulphides and containing intrusions and sulphide veining with associated anomalous copper-cobalt grades.

Best results included 3 metres at 2323 ppm cobalt and 0.09% copper in TCDD001; 46 metres at 0.11% copper in TCDD002; 22 metres at 193 ppm cobalt and 0.01% copper in TCDD003.

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Fri, 21 Dec 2018 13:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211622/accelerate-resources-completes-deep-hole-targeting-porphyry-211622.html
<![CDATA[News - Accelerate Resources reaches agreement with GTT and the two will work together ]]> https://www.proactiveinvestors.com.au/companies/news/210827/accelerate-resources-reaches-agreement-with-gtt-and-the-two-will-work-together-210827.html Accelerate Resources Ltd (ASX:AX8) has reached agreement with shareholder GTT Global Opportunities Pty Ltd and the two will now work together to “drive value for all shareholders”.

The company believes GTT Ventures can add value in a corporate advisory capacity and provide assistance in advancing the company forward.

As such, GTT has been re-engaged to act as Accelerate’s corporate advisor for a minimum 12-month period.

Requisition notices withdrawn

GTT and associated entities had expressed concern about Accelerate’s direction and lodged requisition notices.

These notices sought to remove managing director Yaxi Zhan, non-executive chairman Grant Mooney and non-executive director Terry Topping from the board and to elect Charles Thomas to the board.

READ: Accelerate Resources’ drilling intersects wide zone of visible copper at Thomas Creek

Accelerate and GTT have come to an agreement to work together with all requisition notices withdrawn.

Chairman Grant Mooney said: “We had always respected GTT’s right to requisition shareholder meetings but were concerned with the time and costs it absorbed.

“It is pleasing that we have reached an agreement that will enable both the board and GTT to focus on working together to drive value for all shareholders.”

As well as supporting the Accelerate board, the GTT parties will work with the company to secure a potential joint venture partner to fund additional drilling of the Thomas Creek porphyry target within the Mt Read project in Tasmania.

Regarding the agreement, Accelerate said that given the encouraging results to date at Mt Read and the target’s significant size, a joint venture partner would add tremendous value.

This would also allow the company to explore additional assets complementary to its strategy.

GTT Ventures executive director Charles Thomas said: “We look forward to providing our expertise in supporting the Accelerate board to fully unlock the company’s potential.”

READ: Accelerate Resources to conduct EDGI Mobile MT electromagnetic survey at Mt Read

This month, Accelerate will carry out a 415-line kilometre airborne survey covering about 89 square kilometres in the area over the Thomas Creek copper-cobalt prospect.

The Airborne Mobile MagnetoTellurics technology of contractor Expert Geophysics is the most advanced generation of airborne audio-frequency magnetic electromagnetic technologies.

This 200-and-400-metre line-spaced survey will map resistivity contrasts to about a 1,000-metre depth.

Results are expected to be used to map alteration within the prospect’s larger porphyry system.

Partly funded by government

The Tasmanian government has partly funded the survey under its Exploration Drilling Grant Initiative (EDGI) Program.

The airborne surveying team is also planning to fly over the Mount Lowren nickel-cobalt prospect, where past exploration showed up mineralisation associated with regionally-faulted ultramafic units.

Mount Lowren surveying will take in 20 line-kilometres, covering 6 square kilometres.

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Mon, 10 Dec 2018 13:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210827/accelerate-resources-reaches-agreement-with-gtt-and-the-two-will-work-together-210827.html
<![CDATA[News - Accelerate Resources to conduct EDGI Mobile MT electromagnetic survey at Mt Read ]]> https://www.proactiveinvestors.com.au/companies/news/209527/accelerate-resources-to-conduct-edgi-mobile-mt-electromagnetic-survey-at-mt-read-209527.html Accelerate Resources Ltd (ASX:AX8) contractor Expert Geophysics Limited will fuel a plane in Tasmania early next month and set out for Mt Read project and its Thomas Creek copper-cobalt porphyry prospect to undertake Mobile MT surveying.

The contractor’s Airborne Mobile MagnetoTellurics technology is the most advanced generation of airborne audio-frequency magnetic electromagnetic (AFMAG) technologies.

WATCH: Accelerate Resources 'seeing the smoking gun, continuing search to find the fire'

Expert Geophysics’415-line kilometre airborne survey will cover about 89 square kilometres in the area over the 13 square kilometre Thomas Creek copper-cobalt prospect at Mt Read project.

The 200-and-400-metre line-spaced survey in western Tasmania will map resistivity contrasts to about a 1,000-metre depth.

These are expected to be used to map alteration within the prospect’s larger porphyry system.

The Tasmanian government has partly funded the survey under its Exploration Drilling Grant Initiative (EDGI) Program.

 

The airborne surveying team is also planning to fly over the Mount Lowren nickel-cobalt prospect, where past exploration showed up mineralisation associated with regionally-faulted ultramafic units.

Mount Lowren surveying will take in 20 line-kilometres, covering 6 square kilometres.

READ: Accelerate Resources’ drilling intersects wide zone of visible copper at Thomas Creek

Recent drilling at the Thomas Creek cobalt-copper porphyry target has highlighted a wide 99-metre zone of visible copper.

Accelerate executive director Andrew Haythorpe spoke to the Proactive Investors Stocktube video channel last week about the company’s drilling programs.

Haythorpe said, “In all of the drilling that we’ve done so far we’ve found strong indications of mineralisation, be it nickel and cobalt to the north, and copper-gold-cobalt in the Thomas Creek area to the south.”

WATCH: Accelerate Resources 'seeing the smoking gun, continuing search to find the fire'

The board member said the company had seen a smoking gun at the project and was continuing its search to “find the fire”.

The airborne survey is part of a wider phase II drilling program at the project.

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Tue, 20 Nov 2018 01:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209527/accelerate-resources-to-conduct-edgi-mobile-mt-electromagnetic-survey-at-mt-read-209527.html
<![CDATA[Media files - Accelerate Resources 'seeing the smoking gun, continuing search to find the fire' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11203/accelerate-resources-seeing-the-smoking-gun-continuing-search-to-find-the-fire--11203.html Thu, 15 Nov 2018 11:25:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11203/accelerate-resources-seeing-the-smoking-gun-continuing-search-to-find-the-fire--11203.html <![CDATA[News - Accelerate Resources’ drilling intersects wide zone of visible copper at Thomas Creek ]]> https://www.proactiveinvestors.com.au/companies/news/208974/accelerate-resources-drilling-intersects-wide-zone-of-visible-copper-at-thomas-creek-208974.html Accelerate Resources Ltd (ASX:AX8) has observed visible copper from 199 metres to 298 metres at the Thomas Creek cobalt-copper porphyry target of its Mount Read project in western Tasmania.

The company has now completed 350 metres of a planned 600-metre total depth in a drill hole at Thomas Creek.

To date encouraging outcomes have been seen, with the drilling successfully intersecting both target zones previously discovered by geophysical surveys – the IP anomaly and magnetic shell.

IP anomaly and magnetic inversion shells targeted by drilling

Coincident with this, visible copper sulphide and visible chalcopyrite have been observed.

The chalcopyrite veining was encountered in several zones, confirming the geological potential and scale of the Thomas Creek prospect.

This builds upon the previous three drill holes at Thomas Creek having intersected a fertile mineralised system, with associated anomalous copper-cobalt grades.

READ: Accelerate Resources begins second stage exploration after discovering large copper-cobalt system

The hole to date has intersected a sequence of altered andesitic lavas and volcanic breccias, cross-cut by a number of potassium feldspar altered monzodiorites.

Notably, zones of magnetite-chalcopyrite-pyrite-potassium feldspar veining were intersected in the upper 300 metres of the hole.

The drill hole will shortly continue to the planned depth of 600 metres, and the core will be cut for sampling and assaying.

READ: Accelerate Resources drills 38-metre nickel intersection

Porphyry-style mineralisation systems generate some of the largest ore deposits in the world, with these deposits generally being greater than 1 billion tonnes and containing at least 1 million tonnes of copper with by-products of gold, silver and/or molybdenum.

All porphyry-style mineralisation systems have large alteration zones which generate significant accumulations of magnetite.

Significantly, Thomas Creek’s aeromagnetic footprint is about 13 square kilometres.

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Mon, 12 Nov 2018 14:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208974/accelerate-resources-drilling-intersects-wide-zone-of-visible-copper-at-thomas-creek-208974.html
<![CDATA[News - Accelerate Resources wins drilling grant from state government ]]> https://www.proactiveinvestors.com.au/companies/news/208373/accelerate-resources-wins-drilling-grant-from-state-government-208373.html Accelerate Resources Ltd (ASX:AX8) will receive government co-funding of $140,000 towards future drilling and helicopter support at Thomas Creek and Henrietta prospects.

The funding is a result of a successful application to Mineral Resources Tasmania, a state government division.

The Exploration Drilling Grant Initiative (EDGI) Program is preferentially funding high quality, technically and economically sound greenfields projects that promote innovative exploration or new exploration concepts and technology.

READ: Accelerate Resources drills 38-metre nickel intersection

Earlier this week, Accelerate revealed it had drilled two significant intersections of nickel from the Young Henry nickel prospect within the Mount Read Project.

38.3 metres at 0.23% nickel and 17.7 metres at 0.19% nickel both came from the diamond hole YHDD001, which was testing a 300-metre long electromagnetic conductor.

Recapping a productive September quarter

The September quarter included the completion of the stage one drilling program at the Thomas Creek cobalt-copper prospect and the discovery of a large copper-cobalt porphyry system.

READ: Accelerate Resources discovers large copper cobalt porphyry system, shares rise

Some of the largest ore deposits in the world are porphyry style, often exceeding 1,000 million tonnes containing over 1 million tonnes of copper with by-products of gold, silver and/or molybdenum.

Naturally, these mines have long lives.

The nearby Mt Lyell mine has porphyry attributes and has been operating for over 100 years.

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Fri, 02 Nov 2018 12:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208373/accelerate-resources-wins-drilling-grant-from-state-government-208373.html
<![CDATA[News - Accelerate Resources drills 38-metre nickel intersection ]]> https://www.proactiveinvestors.com.au/companies/news/208068/accelerate-resources-drills-38-metre-nickel-intersection-208068.html Accelerate Resources Ltd (ASX:AX8) has drilled two significant intersections of nickel from the Young Henry nickel prospect within the Mount Read Project in Tasmania.

38.3 metres at 0.23% nickel and 17.7 metres at 0.19% nickel both came from the diamond hole YHDD001, which was testing a 300-metre long electromagnetic conductor.

Drilling intersected two zones of elevated nickel within ultramafics.

The two zones with nickel sulphide potential were identified at the base of both serpentinised ultramafic’s intersected.

These zones bear the strongest sulphide mineralisation within ultramafic and also contained cobalt.

READ: Accelerate Resources begins second stage exploration after discovering large copper-cobalt system

Accelerate’s managing director Yaxi Zhan said: “Stage two drilling at Thomas Creek is already underway with a fourth drill hole and we are planning for further exploration program in line with our strategy to best position Accelerate to attract large partners to further develop the Mount Read project.”

Exploration towards generating drill targets

The identified potential for nickel-copper-cobalt sulphide deposits in the area is encouraging.

An untested 1.4-kilometre strike length of stronger EM anomalies coincides with ultramafic rock less than 1 kilometre east at the Henrietta Prospect.

Assessment of this key target when field operations recommence will initially include mapping, stream sediment sampling, gridding, rock chip and soil sampling.

Ground EM surveys will then follow to define drill targets.

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Tue, 30 Oct 2018 08:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208068/accelerate-resources-drills-38-metre-nickel-intersection-208068.html
<![CDATA[News - Accelerate Resources begins second stage exploration after discovering large copper-cobalt system ]]> https://www.proactiveinvestors.com.au/companies/news/206848/accelerate-resources-begins-second-stage-exploration-after-discovering-large-copper-cobalt-system-206848.html Accelerate Resources Ltd (ASX:AX8) has commenced drilling as part of its second stage exploration program at the Thomas Creek copper-cobalt prospect within the Mount Read Project in Tasmania.

Targeting is based upon an ongoing review of data sets and new information from Accelerate’s recent Thomas Creek diamond drilling program.

READ: Accelerate Resources discovers large copper cobalt porphyry system, shares rise

The company’s recent analysis has identified previously untested features interpreted as being related to the inner potassic altered mineralisation zone of a porphyry system.

Induced polarisation (IP) chargeability and magnetic inversion shells targeted by new drilling

It is worth noting that porphyry-style mineralisation systems generate some of the largest ore deposits in the world, with these deposits generally being >1,000 million tonnes and containing >1 million tonnes copper with by-products of gold, silver and/or molybdenum.

All porphyry-style mineralisation systems have large alteration zones which generate significant accumulations of magnetite.

Significantly, Thomas Creek’s aeromagnetic footprint is about 13 square kilometres.

 

Accelerate managing director Yaxi Zhan said: “The encouraging results from the stage one drill program which commenced in early April led to the discovery of a large, copper-cobalt porphyry system.

“The second stage of the exploration program at Thomas Creek prospect is a significant step forward.

“This drilling program will test previously untested features. It is in line with our strategy to build shareholder value through a systematic project development approach at Mt Read Project.

“We look forward to keeping our shareholders up to date with developments as they occur.”

READ: Accelerate Resources completes diamond hole at Young Henry cobalt-nickel target

Accelerate’s near-term plans at the Mt Read Project include:

• Detailed airborne magnetic and geophysical surveys;
• Detailed ground mapping and soil sampling; and
• Young Henry drilling results due in coming weeks.

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Thu, 11 Oct 2018 15:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206848/accelerate-resources-begins-second-stage-exploration-after-discovering-large-copper-cobalt-system-206848.html
<![CDATA[News - Accelerate Resources completes diamond hole at Young Henry cobalt-nickel target ]]> https://www.proactiveinvestors.com.au/companies/news/206032/accelerate-resources-completes-diamond-hole-at-young-henry-cobalt-nickel-target-206032.html Accelerate Resources Ltd (ASX:AX8) has completed a diamond drill hole at the Young Henry cobalt-nickel target within its Mount Read project in western Tasmania.

Drill core from the 156.1-metre hole has been cut and submitted to the laboratory for assaying.

This hole was designed to test a 300-metre-long SSW plunging electromagnetic (EM) conductor and the primary target was magmatic nickel-copper sulphides.

READ: Accelerate Resources drilling Young Henry nickel-cobalt target

The conductor sits below gossanous soil samples anomalous in nickel, cobalt and zinc.

A previous fixed loop electromagnetic (FLEM) survey as well as soil sampling and geological mapping, confirmed the EM conductor associated with nickel and cobalt soil anomalism.

Following completion of the hole, Accelerate said the conductor could be explained as resulting of interplay of several potential conductive sources.

“Graphitic serpentinised ultramafic extended from 69.4 to 71.7 metres culminating in a 0.75-metre massive graphite zone at the start of 3 metres of 3% irregular veinlet and disseminated sulphide extending to 74.8 metres,” it stated.

“The modelled conductor coincides with a similar serpentinised and sulphide mineralised ultramafic extending from 100.4 to 106.3 metres, immediately up-hole from a significant interval of locally graphitic black shale from 106 to 114 metres bearing about 5% disseminated and stinger veined sulphide.”

Accelerate believes that this sulphide occurrence suggests potential for magmatic nickel-copper-cobalt sulphide deposits in the area.

It is particularly encouraging given that an untested 1.4-kilometre strike length of stronger VTEM anomalies coincident with ultramafic rock lies less than 1-kilometre east at the Henrietta prospect.

Location of Young Henry and Henrietta airborne electromagnetic anomalies.

Plans for work at Henrietta

The company is undertaking further planning for work at Henrietta, which hosts a series of EM anomalies, before the anticipated recommencement of field operations.

Geological mapping, stream sediment sampling, gridding, rock chip and soil sampling are being planned prior to ground electromagnetic surveys to define drill targets.

Drilling approval has also been received for another hole at the Thomas Creek prospect, 18-kilometres south of Young Henry, and the drilling rig will now be mobilised to the site.

READ: Accelerate Resources discovers large copper cobalt porphyry system, shares rise

The company recently discovered a large, copper-cobalt porphyry system at Thomas Creek based on data from a diamond drilling program, including analysis and interpretation of geology, geochemistry and geophysical data sets.

Assays from three diamond drill holes show high-grade cobalt and copper was intersected including 8 metres at 0.11% cobalt and 46 metres at 0.11% copper.

The Mount Read project encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

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Mon, 01 Oct 2018 10:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206032/accelerate-resources-completes-diamond-hole-at-young-henry-cobalt-nickel-target-206032.html
<![CDATA[News - Accelerate Resources discovers large copper cobalt porphyry system, shares rise ]]> https://www.proactiveinvestors.com.au/companies/news/204296/accelerate-resources-discovers-large-copper-cobalt-porphyry-system-shares-rise-204296.html Accelerate Resources Ltd (ASX:AX8) has discovered a large, copper-cobalt porphyry system at its Thomas Creek Prospect within the Mount Read Project in Tasmania.

The discovery is based upon data from the recent Thomas Creek diamond drilling program, including analysis and interpretation of geology, geochemistry and geophysical data sets.

Assays from three diamond drill holes show high grade cobalt and copper was intersected including 8 metres at 0.11% cobalt and 46 metres at 0.11% copper.

Drilling intersects large IP target

Drilling was targeting a large induced polarisation (IP) anomaly below a surface copper-cobalt anomaly.

The drilling successfully intersected a fertile porphyry system containing several intrusions associated with anomalous copper-cobalt grades.

All three holes intersected the intermediate alteration phase associated with this style of mineralisation system.

Finding an economic zone to potentially mine

On‐going detailed analysis and a systematic, programs of work will actively pursue the establishment of economic zones of mineralisation within this large porphyry system.

Near-term plans at the target are:

• Detailed airborne magnetic and geophysical surveys;
• Detailed ground geophysical surveys; and
• Regulatory approval for additional diamond drilling.

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Thu, 06 Sep 2018 14:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204296/accelerate-resources-discovers-large-copper-cobalt-porphyry-system-shares-rise-204296.html
<![CDATA[Media files - Accelerate Resources drilling for battery metals at Mount Read ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10279/accelerate-resources-drilling-for-battery-metals-at-mount-read-10279.html Thu, 30 Aug 2018 16:40:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10279/accelerate-resources-drilling-for-battery-metals-at-mount-read-10279.html <![CDATA[News - Accelerate Resources drilling Young Henry nickel-cobalt target ]]> https://www.proactiveinvestors.com.au/companies/news/203837/accelerate-resources-drilling-young-henry-nickel-cobalt-target-203837.html Accelerate Resources Ltd (ASX:AX8) has begun diamond drilling its Young Henry nickel-cobalt prospect at its Mount Read Cobalt Project in Tasmania, targeting a depth of 200 metres.

The drill hole is designed to test a 300-metre-long, south-southwest plunging electromagnetic (EM) conductor.

The conductor sits below gossanous soul samples anomalous in nickel, cobalt, copper and zinc and has the potential to indicate an accumulation of sulphides.

READ: Accelerate Resources mobilises drill rig to Young Henry nickel-cobalt target

A fixed loop electromagnetic (FLEM) survey, as well as soil sampling and geological mapping, confirmed the EM conductor associated with nickel and cobalt soil anomalism.

The FLEM comprised a 300 by 300 metre loop with readings conducted on 75 metre spaced lines.

Lab results from the soil sampling show peak concentrations of 2,030 ppm nickel, 154 ppm cobalt, 172 ppm copper, 45% iron, 1% chromium and 1,200 ppm zinc.

READ: Accelerate Resources discovers nickel-cobalt target at Young Henry prospect

Young Henry is adjacent to the Henrietta prospect where surface samples have returned cobalt grades up to 0.14%.

It is 18 kilometres north of Thomas Creek and immediately to the west of the 1.4-kilometre-long Henrietta anomaly.

Accelerate will soon update drilling results from its Thomas Creek copper-cobalt target and begin field exploration at the Henrietta nickel-cobalt target.

  READ: Accelerate Resources discovers multiple semi-massive sulphides

The Mount Read project encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

The project contains two main prospects, Thomas Creek and Henrietta.

Sample and survey results from the prospects highlight the likely presence of a mineral system that could potentially host economic mineralisation.

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Wed, 29 Aug 2018 22:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203837/accelerate-resources-drilling-young-henry-nickel-cobalt-target-203837.html
<![CDATA[News - Accelerate Resources mobilises drill rig to Young Henry nickel-cobalt target ]]> https://www.proactiveinvestors.com.au/companies/news/203190/accelerate-resources-mobilises-drill-rig-to-young-henry-nickel-cobalt-target-203190.html Accelerate Resources Ltd (ASX:AX8) is mobilising a diamond drill rig to test the Young Henry nickel-cobalt target at its Mount Read Cobalt Project in Tasmania.

The company has received environmental approval from Mineral Resources Tasmania for the drilling program.

A diamond rig is this week being mobilised from the Thomas Creek copper-cobalt-nickel prospect to the Young Henry site with drilling expected to begin shortly.

READ: Accelerate Resources discovers nickel-cobalt target at Young Henry prospect

Young Henry is 18 kilometres north of Thomas Creek and is immediately to the west of the 1.4-kilometre long Henrietta VTEM anomaly.

Accelerate last week announced that it had discovered a new nickel-cobalt target at Young Henry.

A fixed loop electromagnetic (FLEM) survey, as well as soil sampling and geological mapping, confirmed a ground electromagnetic conductor associated with nickel and cobalt soil anomalism.

READ: Accelerate Resources discovers multiple semi-massive sulphides

The Mount Read project encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

The project contains two main prospects, Thomas Creek and Henrietta.

Sample and survey results from the prospects highlight the likely presence of a mineral system that could potentially host economic mineralisation.

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Mon, 20 Aug 2018 15:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203190/accelerate-resources-mobilises-drill-rig-to-young-henry-nickel-cobalt-target-203190.html
<![CDATA[News - Accelerate Resources discovers nickel-cobalt target at Young Henry prospect ]]> https://www.proactiveinvestors.com.au/companies/news/203009/accelerate-resources-discovers-nickel-cobalt-target-at-young-henry-prospect-203009.html Accelerate Resources Ltd (ASX:AX8) has discovered a new nickel-cobalt target at the Young Henry prospect within its Mount Read Cobalt Project in Tasmania.

The discovery was made after a fixed loop electromagnetic (FLEM) survey as well as soil sampling and geological mapping.

Results have confirmed a ground electromagnetic conductor associated with nickel and cobalt soil anomalism.

Soil sampling has also confirmed anomalous nickel, cobalt, copper and zinc soils and a gossan up-plunge from the modelled FLEM conductor.

Diamond drilling is scheduled to test the conductor and the mineralised zone in late August.

 

The FLEM survey aimed to further define a previously identified 300-metre-long airborne versatile time-domain electromagnetic (VTEM) conductor near the northern end of a belt of fault-bounded mafic-ultramafic rocks.

The survey comprised of a 300 by 300 metre loop with EM readings conducted on 75 metre spaced lines.

A south-southwest plunging moderately conductive bedrock conductor was identified, which has the potential to indicate an accumulation of sulphides.

Analysis shows coherent patterns

A total of 50 soil samples were collected from auger holes with depths less than 1 metre, along four 75 metre spaced grid lines.

Lab results show peak concentrations of 2,030 ppm nickel, 154 ppm cobalt, 172 ppm copper, 45% iron, 1% chromium and 1,200 ppm zinc from the samples.

Gridded sample analysis shows coherent patterns for both mineralisation and lithology.

  READ: Accelerate Resources discovers multiple semi-massive sulphides

Gossanous soil samples were found up-dip and up-plunge from the modelled FLEM conductor at three locations.

The strongest gossan was at the up-plunge projection of the conductive body in the northeast of the Young Henry grid.

Sulphur in two of the samples suggests they are in-situ hydrothermal-related, with sulphur more likely to be oxidised and leached from a transported laterite.

A fault breccia sample at the eastern contact of the ultramafic returned several anomalous results, including 0.12% zinc, 0.2% nickel, 123.5 ppm copper, 0.8% chromium and 96 ppm cobalt.

READ: Accelerate Resources intersects high-grade cobalt at Mount Read project

The Mount Read project encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

The project contains two main prospects, the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper prospect.

Sample and survey results from the prospects highlighted the likely presence of a mineral system that could potentially host economic mineralisation.

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Wed, 15 Aug 2018 21:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203009/accelerate-resources-discovers-nickel-cobalt-target-at-young-henry-prospect-203009.html
<![CDATA[News - Accelerate Resources discovers multiple semi-massive sulphides ]]> https://www.proactiveinvestors.com.au/companies/news/201188/accelerate-resources-discovers-multiple-semi-massive-sulphides-201188.html Accelerate Resources Ltd (ASX:AX8) has interested multiple semi-massive pyrite veins in diamond hole TCDD003 at the Thomas Creek Cobalt-Copper-Gold Prospect in Tasmania.

Core from the 357.9-metre hole targeting a large IP anomaly is being despatched to the laboratory for assaying.

The anomaly is directly below a surface sampling location which returned results of 3,300 ppm cobalt, 1.52% copper and 0.59 g/t gold in 2017.

READ: Accelerate Resources intersects high-grade cobalt at Mount Read project

The intersection of multiple zones of semi-massive pyrite veining in TCDD003 is similar to that hosting significant cobalt mineralisation associated with sulphide veining in TCDD001.

TCDD001 returned significant cobalt results from similar semi-massive pyrite veining including 3 metres at 0.23% cobalt.

The visually inspected core from this latest hole is highly encouraging and confirms the potential of the Thomas Creek copper-cobalt prospect to host further mineralisation in this large and relatively untested target.

Testing a 400x600 metre anomaly

Drill hole TCDD003 targeted a large chargeable IP anomaly 400 metres wide and 600 metres in length.

The depth to the top of the IP anomaly is about 100 metres below the surface.

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Fri, 20 Jul 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201188/accelerate-resources-discovers-multiple-semi-massive-sulphides-201188.html
<![CDATA[News - Accelerate Resources intersects high-grade cobalt at Mount Read project ]]> https://www.proactiveinvestors.com.au/companies/news/200532/accelerate-resources-intersects-high-grade-cobalt-at-mount-read-project-200532.html Accelerate Resources Ltd (ASX:AX8) has discovered significant cobalt mineralisation in the first of three holes targeting a chargeable induced polarisation (IP) anomaly at its Mount Read Cobalt Project in western Tasmania.

Results from the Thomas Creek prospect include 3 metres at 0.23% cobalt from 150 metres, including 1 metre at 0.33% cobalt, and 1 metre at 0.15% cobalt and 0.31% copper from 157 metres.

A review of other ASX-listed cobalt stocks by Small Caps showed that most of the identified grades were around 0.1-0.15%, highlighting the significance of Accelerate’s result from the first drill hole.

Surface sampling indicates mineralisation

The chargeable anomaly is along the eastern margin of an ovoid aeromagnetic body, below a surface copper-cobalt anomaly.

It is around 400 metres at its widest point, up to 600 metres in length and around 100 metres below the surface.

Previous surface sampling at the Thomas Creek copper-cobalt-gold prospect returned results of 3,300ppm cobalt, 1.52% copper and 0.59 g/t gold from saprolitic bedrock beneath peaty soil cover.

Airborne EM targets at the Mount Read project

READ: Accelerate Resources’ survey aims to define cobalt-nickel drilling targets

The inclined hole intersected a sequence of altered andesitic lavas and volcanic breccias, cross-cut by several late stage intrusives, including potassium feldspar altered monzodiorites.

The significant cobalt mineralisation is hosted by semi-massive pyrite veins within a zone of coarsely disseminated pyrite, associated with hydrothermal breccias.

 

The Mount Read project is on the Sorrell Peninsula in western Tasmania.

It encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

New era for cobalt

Small Caps writes: “Largely unloved until recent years, cobalt is welcoming a new era of soaring demand and prices, sparked by the metal’s uptake in the surging lithium-ion battery sector.

“Powering the lithium-ion battery’s demand is the flourishing sustainable energy and electric vehicle markets.

“Transparency Market Research predicts the lithium-ion battery market will be valued at US$77.4 billion by 2024, primarily driven by electric vehicles.

“Until the advent of the lithium-ion battery, cobalt was traditionally a by-product of nickel, silver, copper, lead, and iron mining.

“Now, the metal is sought in its own right for incorporation in the lithium-ion battery, which actually contains more cobalt than lithium.”

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Tue, 10 Jul 2018 22:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200532/accelerate-resources-intersects-high-grade-cobalt-at-mount-read-project-200532.html
<![CDATA[News - Accelerate Resources’ survey aims to define cobalt-nickel drilling targets ]]> https://www.proactiveinvestors.com.au/companies/news/199622/accelerate-resources-survey-aims-to-define-cobalt-nickel-drilling-targets-199622.html Accelerate Resources Ltd (ASX:AX8) is undertaking a ground-based Fixed Loop Electromagnetic (FLEM) survey over the Young Henry cobalt-nickel target at the Mount Read Cobalt Project in Tasmania.

The survey aims to further define EM conductors which could potentially indicate accumulations of massive sulphides.

Accelerate intends to determine the first-ever drill targets in the area.

READ: Accelerate Resources completes second drill hole targeting cobalt copper gold

In conjunction, geological field mapping, soil and rock chip sampling is being carried out in the area.

The target for exploration is for magmatic nickel-copper-cobalt sulphides associated with mafic-ultramafic rocks.

Previous exploration at the Young Henry and Henrietta prospects, including heli-borne VTEM surveys, identified a belt of mafic to ultramafic rocks.

Trend of EM anomalies

This is associated with a 1.4-kilometre long trend of airborne EM anomalies along the eastern mafic-ultramafic belt.

Airborne EM targets at the Mount Read project.

Historical reconnaissance exploration in the area identified altered ultramafic rocks with anomalous values for nickel, cobalt and platinum.

Focus on Young Henry

FLEM survey work will focus on Young Henry prospect on the western side of Henrietta.

A previous VTEM survey identified a 300-metre long EM conductor near the northern end of a belt of mafic-ultramafic rocks.

The FLEM survey will comprise a 300 by 300 metres loop with EM readings conducted on 75 metre spaced lines.

 

Very little historical exploration has been undertaken at the Henrietta cobalt-copper-gold project.

Prolific Mount Read Volcanics

The Mount Read project is on the Sorrell Peninsula in western Tasmania.

It encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV host all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

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Wed, 27 Jun 2018 10:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199622/accelerate-resources-survey-aims-to-define-cobalt-nickel-drilling-targets-199622.html
<![CDATA[Media files - Accelerate Resources working on 'some of the most prospective geology in the world' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9710/accelerate-resources-working-on-some-of-the-most-prospective-geology-in-the-world--9710.html Wed, 27 Jun 2018 10:37:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9710/accelerate-resources-working-on-some-of-the-most-prospective-geology-in-the-world--9710.html <![CDATA[News - Accelerate Resources completes second drill hole targeting cobalt copper gold ]]> https://www.proactiveinvestors.com.au/companies/news/198142/accelerate-resources-completes-second-drill-hole-targeting-cobalt-copper-gold-198142.html Accelerate Resources Ltd (ASX:AX8) has completed its second diamond drill hole at the Thomas Creek cobalt-copper-gold prospect within its Mount Read Project in Tasmania.

TCDD002 is the second of three initial holes targeting a large chargeable IP anomaly below a surface copper-cobalt anomaly.

Notably, disseminated sulphides were observed over 193 metres down hole from surface in this second hole.

READ: Accelerate Resources intersects semi-massive sulphide in its first Mount Read diamond hole

Third hole underway, assays pending

Drilling of TCDD003 has commenced.

The hole is targeting the deeper, central part of the IP chargeability anomaly and is located approximately 100 metres northwest of TCDD001.

Drill core from the first hole has arrived at the lab in Perth and is now being cut and sampled before assaying.

Two main prospects at Mt Read Cobalt Project

Mt Read contains two main prospects, the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper prospect.

In October 2017, four samples were collected from the Thomas Creek site.

The results collectively highlighted the likely presence of a mineral system that could potentially host economic mineralisation.

Surface sampling and an induced polarisation (IP) survey was used to define drill targets at Thomas Creek.

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Mon, 04 Jun 2018 11:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198142/accelerate-resources-completes-second-drill-hole-targeting-cobalt-copper-gold-198142.html
<![CDATA[Media files - Accelerate Resources focusing on Mount Read for its "sensational" geology at surface ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9342/accelerate-resources-focusing-on-mount-read-for-its-sensational-geology-at-surface-9342.html Tue, 22 May 2018 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9342/accelerate-resources-focusing-on-mount-read-for-its-sensational-geology-at-surface-9342.html <![CDATA[News - Accelerate Resources intersects semi-massive sulphide in its first Mount Read diamond hole ]]> https://www.proactiveinvestors.com.au/companies/news/195914/accelerate-resources-intersects-semi-massive-sulphide-in-its-first-mount-read-diamond-hole-195914.html Accelerate Resources Ltd (ASX:AX8) has intersected a broad zone of semi-massive sulphide in its first diamond drill hole at Thomas Creek prospect in the Mount Read Cobalt-Copper Project in Tasmania.

A 15-metre zone was intersected at 150.6 metres downhole with the hole also confirming the presence of a large chargeable induced polarisation (IP) anomaly.

READ: Accelerate Resources focused on cobalt and conglomerate-hosted gold

The hole confirmed that the IP target is a broad zone of alteration and mineralisation which is prospective for cobalt, copper and gold.

Highly altered volcanics were intersected from 40 metres to the bottom of the hole at 272.9 metres.

Second hole to start today

Accelerate expects to start drilling the second hole at Thomas Creek today.

The drilling is part of a 3-hole program targeting a large chargeable IP anomaly along the eastern margin of an ovoid aeromagnetic body, below a surface copper-cobalt anomaly.

This anomaly was not intersected or tested by previous explorers.

Shallow diamond drilling by Plutonic Operations Ltd in the early 1990s confirmed anomalous copper, cobalt and gold but did not test the IP chargeability anomaly.

Other satellite targets

Other satellite chargeable target areas will be investigated by future follow-up IP surveys.

Completion of the first hole on the Mt Read project is a major milestone following the company’s admission to the ASX in February 2018.

Core from the hole is being prepared and marked up for cutting and sampling.

It will be sent to a registered analytical laboratory for gold and multi-element analysis.

READ: Accelerate Resources moves to expand cobalt project in Tasmania

Mount Read is on the Sorrell Peninsular in western Tasmania and encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics.

These are host to all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers for over 100 years.

The two main prospects comprising the project, which are expected be the focus of exploration in the first two years of operation, are Thomas Creek and Henrietta, a cobalt-nickel-copper prospect.

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Fri, 27 Apr 2018 12:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195914/accelerate-resources-intersects-semi-massive-sulphide-in-its-first-mount-read-diamond-hole-195914.html
<![CDATA[News - Accelerate Resources focused on cobalt and conglomerate-hosted gold ]]> https://www.proactiveinvestors.com.au/companies/news/195132/accelerate-resources-focused-on-cobalt-and-conglomerate-hosted-gold-195132.html Accelerate Resources Ltd (ASX:AX8) listed on the ASX in February 2018 after raising the maximum amount of $5 million in its oversubscribed initial public offering (IPO).

The company’s project portfolio consists of the Mt Read Cobalt Project in Tasmania and four gold projects across Western Australia.

The initial focus will be on the Mt Read Cobalt Project where soil samples taken in October 2017 graded up to 7,800 ppm cobalt, 0.86% copper, 2,300 ppm nickel and 0.81 g/t gold.

Two main prospects at Mt Read Cobalt Project

Mt Read contains two main prospects, the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper prospect.

In October 2017, four samples were collected from the Thomas Creek site.

The results collectively highlighted the likely presence of a mineral system that could potentially host economic mineralisation.

Surface sampling and an induced polarisation (IP) survey was used to define drill targets at Thomas Creek.

Maiden drilling commenced at Thomas Creek

In early April 2018, Accelerate’s maiden drill program commenced focusing on three targets identified by modelling following a recent 3D induced polarisation (IP) survey.

READ: Accelerate Resources’ survey reveals large cobalt-copper-gold target in Tasmania

Modelling defined a large chargeable anomaly of about 400 metres by 600 metres below a surface copper-cobalt anomaly.

The depth to the top of the anomaly is around 100 metres below the surface.

Three diamond holes planned

Accelerate plans three angled diamond holes to test two shallow targets and one deeper target within the chargeable feature.

Initial drilling of the central IP feature is the first step of a potentially much larger exploration program in the Thomas Creek area.

Shallow diamond drilling completed in the early 1990s confirmed anomalous copper-cobalt-gold but did not test the IP chargeability anomaly.

Further drilling will be carried out to follow up any significant mineralisation intersected in the initial holes.

Survey identifies anomalies

The IP survey was carried out by Zonge Engineering and Research Organisation Pty Ltd under the supervision of Southern Geoscience Consultants Pty Ltd.

It covered 10.8 line kilometres on five north-south oriented lines and one east-west line.

As well as the large moderately high chargeability, low resistivity anomaly three other satellite chargeable zones on the limits of the survey were identified.

These will be investigated by future follow-up IP surveys.

READ: Accelerate Resources moves to expand cobalt project in Tasmania

In mid-April 2018, Accelerate applied for three new exploration licences adjacent to its Mount Read Cobalt project in western Tasmania.

The three new licences cover 282 square kilometres and importantly host prospective lithologies equivalent to the Mount Read Volcanics.

Tenements within Tasmania strategic prospectivity zone

Notably, the Mt Read project tenements are within a zone that comes under the Mining (Strategic Prospectivity Zones) Act 1993.

The Act ensures continuing access for mining purposes to areas of Tasmania having very high potential for mineral exploration.

Mount Read Volcanics belt hosts 100+ year life mines

The Mount Read Volcanics host all western Tasmania’s significant base and precious metal mines and mineral occurrences.

Several of these mines have been significant producers of base metals for over 100 years.

This productive mineralised belt has profitable copper-silver and gold production of Mount Lyell, Rosebery, and Henty Gold Mine.

It also hosts numerous smaller sites of prospective mineralisation.

BMW believes its needs for car battery materials will grow 10-fold

Accelerate is exploring a cobalt project at a fortunate time with cobalt’s price continuing to rise.

German car manufacturer, Bayerische Motoren Werke AG (ETR: BMW), believes that its needs for car-battery raw materials will grow 10-fold by 2025.

Furthermore, BMW expressed that it had been surprised by just how quickly demand will accelerate.

In April 2018, cobalt priced surpassed US$90,000 per tonne, nearly double the price 12 months prior.

Western Australian gold portfolio features conglomerate-hosted gold

The Bulgera, Mt Monger and Comet gold projects are located in the Eastern Goldfields of Western Australia, proximal to a number of world-class deposits.

The fourth gold project is in the Pilbara region and prospective for conglomerate-hosted gold mineralisation.

The discovery of conglomerate-hosted gold in the Pilbara has been a large share price catalyst for multiple ASX-listed gold explorers over the past year.

The Pilbara Gold Project covers part of the Fortescue Group of the Pilbara Craton and includes units of the Hardey Formation.

Importantly, the Hardey Formation is thought to be prospective for conglomerate-hosted gold mineralisation.

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Wed, 18 Apr 2018 07:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195132/accelerate-resources-focused-on-cobalt-and-conglomerate-hosted-gold-195132.html
<![CDATA[News - Accelerate Resources moves to expand cobalt project in Tasmania ]]> https://www.proactiveinvestors.com.au/companies/news/195096/accelerate-resources-moves-to-expand-cobalt-project-in-tasmania-195096.html Accelerate Resources Ltd (ASX:AX8) has applied for three new exploration licences adjacent to its Mount Read Cobalt project in western Tasmania.

The three new licences cover 282 square kilometres and importantly host prospective lithologies equivalent to the Mount Read Volcanics.

The Mount Read Volcanics host all western Tasmania’s significant base and precious metal mines and mineral occurrences.

Several of these mines have been significant producers of base metals for over 100 years.

READ: Accelerate Resources expects to begin drilling large cobalt-copper-gold target today

Earlier this month, Accelerate commenced diamond drilling a large induced polarisation (IP) target at the Thomas Creek prospect within the Mount Read project.

Notably, the target is also located beneath a surface cobalt-copper-gold anomaly.

Targeting cobalt, copper, gold and nickel

The two main prospects at Mount Read are the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper project.

Previous exploration at Thomas Creek defined a copper-cobalt-gold soil geochemical anomaly associated with an aeromagnetic and ground induced polarisation (IP) geophysical anomaly.

Shallow diamond drilling completed in the early 1990s confirmed anomalous copper-cobalt-gold but did not test the IP chargeability anomaly.

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Tue, 17 Apr 2018 10:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195096/accelerate-resources-moves-to-expand-cobalt-project-in-tasmania-195096.html
<![CDATA[News - Accelerate Resources expects to begin drilling large cobalt-copper-gold target today ]]> https://www.proactiveinvestors.com.au/companies/news/194382/accelerate-resources-expects-to-begin-drilling-large-cobalt-copper-gold-target-today-194382.html Accelerate Resources Ltd (ASX:AX8) expects to have the drill bit spinning today at its Thomas Creek cobalt-copper-gold prospect in Tasmania.

The drill program is focusing on three targets identified by modelling following a recent 3D induced polarisation (IP) survey.

Thomas Creek is part of the company’s Mount Read Cobalt Project on the Sorrell Peninsular of Tasmania’s west coast.

READ: Accelerate Resources’ survey reveals large cobalt-copper-gold target in Tasmania

Modelling defined a large chargeable anomaly of about 400 metres by 600 metres below a surface copper-cobalt anomaly.

The depth to the top of the anomaly is around 100 metres below the surface.

Three diamond holes planned

Accelerate plans three angled diamond holes to test two shallow targets and one deeper target within the chargeable feature.

Initial drilling of the central IP feature is the first step of a potentially much larger exploration program in the Thomas Creek area.

Further drilling will be carried out to follow up any significant mineralisation intersected in the initial holes.

Survey identifies anomalies

The IP survey was carried out by Zonge Engineering and Research Organisation Pty Ltd under the supervision of Southern Geoscience Consultants Pty Ltd.

It covered 10.8 line kilometres on five north-south oriented lines and one east-west line.

As well as the large moderately high chargeability, low resistivity anomaly three other satellite chargeable zones on the limits of the survey were identified.

These will be investigated by future follow-up IP surveys.

READ: Accelerate Resources debut on ASX supported by rising cobalt prices

As well as Thomas Creek, Accelerate also intends to focus its early exploration efforts at Mount Read on the Henrietta cobalt-nickel-copper project.

Accelerate debuted on the ASX in mid-February 2018 and has traded in the range of 16 cents to 22 cents.

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Fri, 06 Apr 2018 10:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194382/accelerate-resources-expects-to-begin-drilling-large-cobalt-copper-gold-target-today-194382.html
<![CDATA[News - Accelerate Resources’ survey reveals large cobalt-copper-gold target in Tasmania ]]> https://www.proactiveinvestors.com.au/companies/news/193671/accelerate-resources-survey-reveals-large-cobalt-copper-gold-target-in-tasmania-193671.html Accelerate Resources Ltd’s (ASX:AX8) induced polarisation (IP) survey has confirmed a large feature beneath a surface cobalt-copper-gold anomaly at the Mount Read Cobalt Project in Tasmania.

The IP survey is being carried out at the Thomas Creek cobalt-copper-gold prospect ahead of a maiden drilling program.

READ: Accelerate Resources prepares for maiden drilling of Tasmanian cobalt project

Accelerate’s infill IP survey has revealed a large chargeability target that is open in all directions.

The company has scheduled the mobilisation of a diamond rig to test the central chargeable anomaly for Wednesday April 4, 2018.

Meanwhile, the IP data is being processed and modelled by geophysical contractors to better define targets in the upcoming diamond drill program.

Diamond drilling immediately after Easter holiday

Site preparations for drill testing of the central IP anomaly at Thomas Creek are close to completion with all support services in place.

Accelerate is planning to commence diamond drilling immediately after Easter holiday.

READ: Accelerate Resources debut on ASX supported by rising cobalt prices

Cobalt is a key ingredient in new-age batteries used for electric vehicles and mobile phones, and prices have surged.

Car manufacturers from Tesla (NASDAQ:TSLA) to Volkswagen (ETR:VOW) are looking to secure long-term supplies of cobalt for use in their rechargeable batteries.

The LME (London Metal Exchange) cobalt price is about US$94,500 a tonne, or about 200% higher compared to January 2017.

Exploring western Tasmania’s significant resource base

The Mount Read Cobalt project encompasses the Mount Read Volcanics (MRV) of western Tasmania.

The MRV are host to western Tasmania’s mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

Portfolio includes gold projects in Western Australia

Accelerate’s project portfolio consists of the Mt Read Cobalt Project and four gold projects across Western Australia.

The Bulgera, Mt Monger and Comet gold projects are in the Eastern Goldfields of Western Australia, near a number of world-class deposits.

The fourth gold project is in the Pilbara region and is prospective for conglomerate-hosted gold mineralisation.

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Fri, 23 Mar 2018 15:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193671/accelerate-resources-survey-reveals-large-cobalt-copper-gold-target-in-tasmania-193671.html
<![CDATA[News - Accelerate Resources prepares for maiden drilling of Tasmanian cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/192383/accelerate-resources-prepares-for-maiden-drilling-of-tasmanian-cobalt-project-192383.html Accelerate Resources Ltd (ASX:AX8) has started geophysics ahead of a maiden drilling program at the Mount Read Cobalt Project in Tasmania.

An induced polarisation (IP) geophysical survey is underway at the Thomas Creek cobalt-copper-gold prospect.

The newly-listed company is also ramping up the sampling of surface cobalt-bearing sulphides at the project on the state’s west coast.

READ: Accelerate Resources debut on ASX supported by rising cobalt prices

The infill Dipole-Dipole IP survey will comprise circa 10-line kilometres, on five north-south oriented lines and one east-west line.

It is expected to take about two weeks to complete and will be followed by surface sulphide sampling alongside the imminent drill program.

Modelling of the geophysical data will assist in defining potential disseminated sulphide drill targets.

Drilling scheduled after modelling

This will lead to the company’s maiden drilling program, which is scheduled to commence soon after.

The Mount Read project is on Tasmania’s west coast.

Proposed work programs for the upcoming diamond drilling have been approved by the Tasmanian Government.

Accelerate’s project area is within the Tasmania Mining Strategic Prospective Zone.

The Mining Act 1993 (Strategic Prospective Zones), ensures access to certain areas of the state with high potential for mining.

Large chargeability anomaly

Previous broad-spaced IP has defined a large chargeability anomaly below a surface copper-cobalt geochemical soil anomaly.

Visible copper sulphides from the company’s previous sampling were found near this anomalous area.

Diamond drilling completed by Plutonic Operations Ltd in the early 1990s confirmed anomalous copper-cobalt-gold with chalcopyrite-bearing sulphides.

This shallow drilling did not test the IP chargeability anomaly.

New survey will infill 2014 work

The new IP survey will infill and extend the earlier 2014 ground IP survey, which defined the 500 x 600 metre IP chargeability anomaly.

Modelling of previous survey data indicates that the top of the chargeability feature lies 100 to 200 metres below the surface.

Portfolio also includes gold projects

Accelerate’s project portfolio consists of the Mt Read Cobalt Project and four gold projects across Western Australia.

The Bulgera, Mt Monger and Comet gold projects are in the Eastern Goldfields of Western Australia, near a number of world-class deposits.

The fourth gold project is in the Pilbara region and is prospective for conglomerate-hosted gold mineralisation.

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Thu, 01 Mar 2018 09:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192383/accelerate-resources-prepares-for-maiden-drilling-of-tasmanian-cobalt-project-192383.html
<![CDATA[News - Accelerate Resources debut on ASX supported by rising cobalt prices ]]> https://www.proactiveinvestors.com.au/companies/news/191610/accelerate-resources-debut-on-asx-supported-by-rising-cobalt-prices-191610.html Accelerate Resources Ltd (ASX:AX8) has successfully listed on the ASX today with shares trading as high as $0.22.

The $5 million initial public offer (IPO) was both oversubscribed and raised the maximum possible under the prospectus offering.

READ: Accelerate Resources brings gold and cobalt to ASX with listing today

The company has a portfolio of cobalt and gold projects across Tasmania and Western Australia.

The initial focus will be on the Mt Read Cobalt Project in Tasmania where soil samples taken in October 2017 graded up to 7,800 ppm cobalt, 0.86% copper, 2,300 ppm nickel and 0.81 g/t gold.

Two main prospects at Mt Read Cobalt Project

Mt Read contains two main prospects, the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper prospect.

In October 2017, four samples were collected from the Thomas Creek site.

Samples S1 and S2 were panned, while samples S3 and S4 were not.

The results collectively highlight the likely presence of a mineral system that could potentially host economic mineralisation.

Sampling and surveys commenced ahead of drilling

Surface sampling and an induced polarisation (IP) survey has commenced to better define drill targets at Thomas Creek.

Furthermore, a drill rig has been secured with a 2,000-metre campaign set to commence in March 2018.

BMW believes its needs for car battery materials will grow 10-fold

Accelerate is exploring a cobalt project at a fortunate time with cobalt’s price continuing to rise.

German car manufacturer, Bayerische Motoren Werke AG (ETR: BMW), believes that its needs for car-battery raw materials will grow 10-fold by 2025.

Furthermore, BMW expressed that it had been surprised by just how quickly demand will accelerate.

Cobalt has nearly doubled over the past 12 months, currently priced at US$81,500 per tonne.

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Wed, 14 Feb 2018 14:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191610/accelerate-resources-debut-on-asx-supported-by-rising-cobalt-prices-191610.html
<![CDATA[News - Accelerate Resources brings gold and cobalt to ASX with listing today ]]> https://www.proactiveinvestors.com.au/companies/news/191598/accelerate-resources-brings-gold-and-cobalt-to-asx-with-listing-today-191598.html Accelerate Resources Ltd (ASX:AX8) is set to list on the ASX today after raising the maximum amount of $5 million in its oversubscribed initial public offering (IPO).

The issue price for the soon-to-be listed mineral exploration company is $0.20 giving the company a market cap of $9.5 million.

Gold and cobalt projects in Western Australia and Tasmania

Accelerate’s project portfolio consists of the Mt Read Cobalt Project in Tasmania and four gold projects across Western Australia.

At Mt Read, previous sampling has indicated high grades of cobalt, gold and copper.

The Bulgera, Mt Monger and Comet gold projects are located in the Eastern Goldfields of Western Australia, proximal to a number of world-class deposits.

Conglomerate-hosted gold project

The fourth gold project is in the Pilbara region and prospective for conglomerate-hosted gold mineralisation.

The discovery of conglomerate-hosted gold in the Pilbara has been a large share price catalyst for multiple ASX-listed gold explorers over the past year.

Exploration already underway, drilling rig secured

Funds raised under the IPO will go towards exploration across the project portfolio.

Pre-drilling exploration has commenced and a drill rig has been secured.

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Wed, 14 Feb 2018 09:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191598/accelerate-resources-brings-gold-and-cobalt-to-asx-with-listing-today-191598.html