Proactiveinvestors Australia Chase Mining Corporation Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Chase Mining Corporation Ltd RSS feed en Tue, 18 Jun 2019 10:57:21 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Chase Mining confirms priority drill targets at Lorraine Project ]]> https://www.proactiveinvestors.com.au/companies/news/221268/chase-mining-confirms-priority-drill-targets-at-lorraine-project-221268.html Chase Mining Corporation Ltd (ASX:CML) has completed plate modelling of the ten Priority 2 VTEM electromagnetic targets within its Lorraine Project area in Quebec, Canada.

An initial assessment of the Priority 2 targets together with a provisional drill program for all ten targets (which was subject to plate modelling) was previously reported.

READ: Chase Mining Corporation outlines new massive sulphide targets at Zeus Project

Of the ten Priority 2 targets modelled, six returned plate models with considerable depth extent (>50 metres) and are now recommended for drill testing.

An initial diamond drill programme totalling six holes for 1,175m is required to test the Priority 2 targets.

A contingency of 825 metres is budgeted to allow for undercut / strike extension holes on any of the targets dependent upon results.

The drilling will be subject to compilation of historical exploration data and ground truthing being undertaken by the Chase Mining’s Canadian consultants Orix Geoscience.

Forward program

Orix Geoscience has commenced interrogation and digitising of the historical geology and historical drill hole/assay data in proximity to the VTEM anomalies.

This will be completed in conjunction with Orix’s ground truthing of the Priority 1 and 2 targets and planning of rig access.

Priority 1 and 2 drill collar location plan

The company has commenced planning of the drill program to facilitate permit application and ground access.

Chase Mining will inform the market shortly after the modelling of the Lorraine Priority 2 targets as this process progresses and the company ramps up activities leading into the drill program.

READ: Chase Mining shares surge after securing indicative offtake offer for topaz concentrate

This program will partly coincide with a site visit by company directors Leon Pretorius and Martin Kavanagh in early June.

Drilling of the Lorraine Priority 1 targets should occur in late June or early July pending permitting, access arrangements and drill rig availability.

Chase Mining will drill the Priority 2 targets following the completion of the Priority 1 drilling program based on a successful outcome.

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Fri, 31 May 2019 12:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221268/chase-mining-confirms-priority-drill-targets-at-lorraine-project-221268.html
<![CDATA[News - Chase Mining confirms positive electromagnetic response at third-party areas near its projects ]]> https://www.proactiveinvestors.com.au/companies/news/221092/chase-mining-confirms-positive-electromagnetic-response-at-third-party-areas-near-its-projects-221092.html Chase Mining Corporation Ltd (ASX:CML) has revealed additional third-party information from the VTEM Max electromagnetic survey completed over its Lorraine and Alotta-Delphi-Zullo (ADZ) project areas in Quebec, Canada.

Background

The company had received permission to overfly project areas held by Globex Mining (TSX:GMX) owners of the Lac Kelly deposit; Meteoric Resources NL (ASX:MEI) owners of the Midrim deposit; and Toronto based geologist Marty Huber owner of the Bambino claims.

These areas are in close proximity to the Lorraine and ADZ Projects.

The Lac Kelly and Midrim deposits have been classed as a priority 1 targets by the company’s consultants Core Geophysics using the same ranking criteria as applied to the VTEM survey results from the Lorraine and ADZ claims.

READ: Chase Mining identifies six high-priority massive sulphide conductor targets, shares up

Importantly, the positive VTEM response from the Lac Kelly and Midrim deposits adds credibility to Chase Mining’s survey results, data interpretation and the modelling to generate and prioritise its own drill targets.

VTEM anomaly ranking

Within the Lorraine Project claims 31 target anomalies were defined comprising five high priority targets, ten medium priority target, twelve low priority targets and four that may be cultural.

Within the ADZ Project claims 11 target anomalies were defined comprising one high priority target, one medium priority target, two low priority targets and seven that may be cultural.

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Wed, 29 May 2019 12:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221092/chase-mining-confirms-positive-electromagnetic-response-at-third-party-areas-near-its-projects-221092.html
<![CDATA[News - Chase Mining Corporation outlines new massive sulphide targets at Zeus Project ]]> https://www.proactiveinvestors.com.au/companies/news/220640/chase-mining-corporation-outlines-new-massive-sulphide-targets-at-zeus-project-220640.html Chase Mining Corporation Ltd (ASX:CML) has outlined additional massive sulphide targets within the Zeus Project areas in Quebec, Canada, using the processing of VTEM Max survey digital data.

This work by Core Geophysics has resulted in identification of 10 priority-2 targets within the Lorraine area and four targets at Alotta-Delphi-Zullo (ADZ), including a priority-1 response over the high-grade Alotta deposit.

The helicopter borne VTEM survey has been a successful method of identifying massive sulphide conductors having delineated the historical Lorraine Mine and the high-grade Alotta deposit.

READ: Chase Mining identifies six high-priority massive sulphide conductor targets, shares up

Core has modelled the Alotta VTEM anomaly in order to assess and compare it to other VTEM anomalies within the survey area.

Lorraine VTEM anomaly locations on B-field channel.

Within the Lorraine project area 31 anomalies were defined by the VTEM survey comprising five priority-1 targets, 10 priority-2 targets, 12 priority-3 targets and four priority-4 targets.

The principal targets within the company’s claims are nickel-copper-cobalt-platinum group elements (PGE) massive sulphides associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers greenstone belt.

READ: Chase Mining shares surge after securing indicative offtake offer for topaz concentrate

The ADZ project contains the Alotta Copper-nickel-cobalt-PGE deposit as well as historical mineralised occurrences at Delphi and Zullo.

Core has interpreted and modelled final VTEM data profiles and processed images to identify anomalies representing potential bedrock conductors of interest.

They have been ranked according to anomaly strength, strike-length and magnetic signature.

ADZ VTEM target anomaly listing

Overall 11 target anomalies were defined with one high-priority target selected.

The remainder comprise three medium to low priority targets with another seven targets, which appear to be associated with cultural objects that require ground truthing.

READ: Chase Mining reveals further proof-of-concept progress in converting topaz into mullite

Toronto-based Orix Geoscience has begun interrogation and digitising of the historical geology and historical drill hole/assay data in proximity to the VTEM anomalies.

This will be completed in conjunction with Orix’s ground truthing of the priority-1 and 2 targets as well as planning of rig access.

Chase has also started planning the drill program to facilitate permit application and ground access.

Drilling of the Lorraine priority-1 targets should occur in late June or early July pending access arrangements and drill rig availability.

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Tue, 21 May 2019 12:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220640/chase-mining-corporation-outlines-new-massive-sulphide-targets-at-zeus-project-220640.html
<![CDATA[News - Chase Mining identifies six high-priority massive sulphide conductor targets, shares up ]]> https://www.proactiveinvestors.com.au/companies/news/220370/chase-mining-identifies-six-high-priority-massive-sulphide-conductor-targets-shares-up-220370.html Chase Mining Ltd (ASX:CML) has gained further evidence that a significant nickel discovery could be hosted within its  Lorraine and Alotta-Delphi-Zullo (ADZ) Project areas in Quebec, Canada.

Processing of the survey has identified six strong massive sulphide conductors ranked as high-priority targets – five at Lorraine and one at ADZ.

A diamond drill program of up to 2,500 metres has been budgeted to test the Lorraine high-priority targets.

Notably, drilling will partly coincide with a site visit by company directors Leon Pretorius and Martin Kavanagh in early June.

READ: Chase Mining shares surge after securing indicative offtake offer for topaz concentrate

Chase is also focused on its Torrington Topaz Project in New South Wales for which it recently received a conditional offtake offer for topaz concentrate.

Chase Mining shares have been running lately, trading up another 19.3% today to 3.7 cents.

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Thu, 16 May 2019 11:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220370/chase-mining-identifies-six-high-priority-massive-sulphide-conductor-targets-shares-up-220370.html
<![CDATA[News - Chase Mining shares surge after securing indicative offtake offer for topaz concentrate ]]> https://www.proactiveinvestors.com.au/companies/news/218916/chase-mining-shares-surge-after-securing-indicative-offtake-offer-for-topaz-concentrate-218916.html Chase Mining Corporation Ltd (ASX:CML) has received a conditional offtake offer to supply between 2,000 and 5,000 tonne of topaz concentrate per month from its Torrington Project in NSW.

This follows exhaustive quality testing of a bulk sample of the nominally 97% topaz concentrate by an international abrasives supply company as a high-pressure water cutting abrasive feedstock.

The material supplied by Chase is representative of what would be produced by a proposed gravity recovery plant from the present flowsheet with a minus 1 mm silexite feed from Torrington.

Air separation could be a commercial option

The main product quality condition that must be met is the optimisation of the topaz concentrate to ensure that its free silica (quartz) content is < 1% to meet respiratory heath concerns to ensure a saleable abrasive product is produced.

Chase has been undertaking topaz concentrate clean-up (free silica / quartz removal) test work to meet this requirement.

However, these and other laboratory successes have not proven economically viable on a commercial scale given the relatively low value of abrasive products.

In a recent development in conjunction with Chris Browne who is a consultant extractive metallurgist it was decided that air separation may work on the dried 0 to 1 mm spiral topaz concentrate product to remove the quartz given its density is 2.65 and that of topaz is 3.55.

Contact was made with Satake Australia in Penrith who produce air gravity tables for grain and other seed cleaning purposes and they completed non-quantitative test work on the topaz using a small demonstration plant they have on site.

Satake air gravity table test work

Although not optimised for mineral separation, it was clear that the dark coloured impurities (tungsten and monazite) reported to the top of the table and the quartz to the bottom portion.

Microscope studies of the samples indicate that the topaz concentrate is largely free of quartz although there are remaining dark metallic impurities.

The samples were not processed though magnetic separation to remove those impurities.

Future planned test work

These initial and very basic tests indicate that air separation may be a commercial option for the removal of the free silica (quartz) content of the topaz concentrate to below 1%.

However, the yield can probably be considerably increased by repassing the balance of the topaz over a second table.

A commercial size air table has been built and will be available to optimise the test work at a future date.

Newly constructed commercial size air gravity table

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Tue, 23 Apr 2019 13:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218916/chase-mining-shares-surge-after-securing-indicative-offtake-offer-for-topaz-concentrate-218916.html
<![CDATA[News - Chase Mining reveals further proof-of-concept progress in converting topaz into mullite ]]> https://www.proactiveinvestors.com.au/companies/news/218190/chase-mining-reveals-further-proof-of-concept-progress-in-converting-topaz-into-mullite-218190.html Chase Mining Corporation Ltd (ASX:CML) and the University of New South Wales (UNSW) have made further progress on their research program to develop high-value products from the topaz found at Chase Mining’s Torrington Tungsten-Topaz Project in NSW.

Topaz is an aluminosilicate and the specific goal is to explore the potential for developing fibres of mullite from the topaz.

Importantly, a new report from the UNSW contains further evidence of proof-of-concept progress in developing the fibres.

Proof-of-concept that parallel (and separable) fibres by growth on templates can be fabricated

It may be possible to use as templates more readily obtained single-crystal alumina

The maximal fibre length of ≤35 micrometres is readily achieved

The addition of a fluorine source at low temperatures appears to be beneficial owing to its ability to expose the pristine mullite template surface for nucleation and growth by removal of residual silica.

The use of a polycrystalline alumina substrate located above and not in direct contact with the topaz powder to produce fibres of width ~4 micrometres from the gas phase provides proof-of-concept that sufficiently thick fibres can be fabricated.

Recommendations for future work

• Determination processing parameters to optimise parallel fibre growth.
• Confirmation of separability of fibres.
• Investigation of use of single-crystal alumina substrates for templated growth.
• Determination of processing kinetics suitable to achieve sufficient thickening of fibres.
• Development of gas phase fabrication process.
• Fabrication and characterisation of compacts for metal infiltration.
• Commencement of work on metal infiltration.

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Tue, 09 Apr 2019 12:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218190/chase-mining-reveals-further-proof-of-concept-progress-in-converting-topaz-into-mullite-218190.html
<![CDATA[News - Chase Mining Corporation finds targets near nickel-copper mine ]]> https://www.proactiveinvestors.com.au/companies/news/217373/chase-mining-corporation-finds-targets-near-nickel-copper-mine-217373.html Chase Mining Corporation Ltd (ASX:CML) has received preliminary results from an airborne electromagnetic geophysical survey over its 100% owned Zeus Project in Quebec, Canada.

The survey was flown over two areas being the Lorraine Project and Alotta-Delphi-Zullo (ADZ) Project.

Several strong anomalies were identified in the Lorraine Project area including over the historical Lorraine nickel-copper mine.

It is anticipated that the final data will be available in late-April and that modelling of anomalies will be completed 3-4 weeks later.

READ: Chase Mining Corporation chairman continues to build holding in company

The historical Lorraine mine produced 600,000 tonnes of ore for processing from 1964 to 1968.

In addition to the response over the Lorraine Mine, Targets 1 and Target 2 represent significant anomalies of over 350 metres to 600 metres strike length and are visible into the latest time channels.

These anomalies represent high priority targets for follow up evaluation and drilling.

They will be further interpreted and modelled along with other anomalies upon receipt of the final data.

Lorraine Project –  VTEM Anomalies

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Thu, 28 Mar 2019 12:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217373/chase-mining-corporation-finds-targets-near-nickel-copper-mine-217373.html
<![CDATA[News - Chase Mining completes VTEM survey over two Zeus project areas in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/216894/chase-mining-completes-vtem-survey-over-two-zeus-project-areas-in-canada-216894.html Chase Mining Corporation Ltd (ASX:CML) has completed a 718 line-kilometre airborne electromagnetic survey over its Lorraine and Alotta-Delphi-Zullo (ADZ) project areas in southwest Quebec, Canada.

The survey was flown using Geotech’s helicopter-borne Versatile Time-Domain Electromagnetic (VTEM Max) geophysical system.

Principal targets within the company’s claims are nickel-copper-cobalt-precious metal massive sulphide conductors associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers Greenstone Belt.

READ: Chase Mining begins VTEM survey over two areas of Zeus project in Canada

Extreme weather, including high winds, whiteout storms and frozen rain, plus equipment malfunctions caused delays in completing the survey, however, Geotech and the company’s consultant geophysicist have signed off on the quality assurance and quality control (QA/QC) of the data.

Preliminary data will be received following the receipt of a further 45% of the scheduled fee with the remaining 5% to be paid upon delivery of the final data.

READ: Chase Mining Corporation chairman continues to build holding in company

Chase Mining expects the processing of the data to produce a preliminary anomaly map to be completed within a week.

Detail interpretation and drill target generation will follow assuming there are worthy preliminary anomalies.

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Thu, 21 Mar 2019 12:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216894/chase-mining-completes-vtem-survey-over-two-zeus-project-areas-in-canada-216894.html
<![CDATA[News - Chase Mining begins VTEM survey over two areas of Zeus project in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/215659/chase-mining-begins-vtem-survey-over-two-areas-of-zeus-project-in-canada-215659.html Chase Mining Corporation Ltd (ASX:CML) has begun a detailed airborne electromagnetic survey over two project areas within its Zeus project in southwest Quebec, Canada.

The 718 line-kilometre survey is being flown by Ontario-based Geotech Ltd utilising their helicopter-borne VTEM Max system and will cover the entire area of the company’s Lorraine and Alotta-Delphi-Zullo (ADZ) blocks targeting nickel-copper sulphide mineralisation.

It is expected the survey will be completed in mid-March with preliminary data being available a fortnight later.

READ: Chase Mining Corporation chairman continues to build holding in company

Principal targets within the company’s claims are nickel-copper-cobalt-precious metal sulphides associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers Greenstone Belt.

The survey is designed to test depth and strike extensions of the historical Lorraine mine, confirm modelled off-hole EM anomalies in the hanging wall of the deposit as well as the extensive target gabbro bodies within the Lorraine claims.

Gold and base-metal targets and anomalies will be evaluated by the VTEM survey, which has a proven record of locating discrete conductors to depths of 300-400 metres.

READ: Chase Mining signs contract for VTEM survey over Canadian project areas

At the ADZ project area, diamond drilling outlined a substantial near-surface nickel-copper-cobalt-precious metal massive sulphides lens at the Alotta prospect.

The VTEM survey will target the strike and depth extensions to the host gabbro body which is complexly folded.

The contract with Geotech includes the production of maps and figures such as a 3D bedrock resistivity image, magnetic data and a digital terrain model.

 

Chase Mining continues to review other opportunities to augment its recent acquisition of the Zeus tenements in Quebec, which will be its main exploration focus beginning with this survey.

The company’s executive chairman Leon Pretorius and director Martin Kavanagh are in Canada to meet with exploration consultants Orix Geoscience to plan a schedule for the 2019 field program including drilling based on the VTEM survey results. 

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Sun, 03 Mar 2019 20:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215659/chase-mining-begins-vtem-survey-over-two-areas-of-zeus-project-in-canada-215659.html
<![CDATA[News - Chase Mining Corporation chairman continues to build holding in company ]]> https://www.proactiveinvestors.com.au/companies/news/214680/chase-mining-corporation-chairman-continues-to-build-holding-in-company-214680.html Chase Mining Corporation Ltd (ASX:CML) executive chairman Leon Pretorius continues to build his holding in the Canadian focused exploration company through on-market share purchases.

On February 12 Pretorius purchased a further 1 million shares on-market with a total value of $18,600.

This adds to the acquisition of 1 million shares in transactions between February 4 and 8 valued at more than $17,600.

READ: Chase Mining Corporation chairman acquires 1 million shares on-market

The latest purchase takes the chairman’s overall holding to 16 million with a value of $320,000 at today’s price of 2 cents, which is up more than 5% on Thursday’s close.

Pretorius’ acquisitions follow those in January of director Charles Thomas, who bought more than 1.435 million ordinary shares through on-market trades with a total value of almost $25,000, taking his total indirect holding to 5.7 million ordinary shares.

READ: Chase Mining signs contract for VTEM survey over Canadian project areas

Earlier this week Chase announced that it had signed a contract to fly an airborne electromagnetic (EM) geophysical survey over two areas within its Zeus project in southwest Quebec, Canada.

The 718-kilometre survey will be flown by Geotech utilising a helicopter-borne VTEM Max system.

Targets are nickel-copper-cobalt-precious metal massive sulphides associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers Greenstone Belt (BAGB).

Focus on Lorraine and Alotta

At Alotta-Delphi-Zullo (ADZ) project diamond drilling has outlined a substantial near-surface nickel-copper-cobalt-precious metal massive sulphide lens at Alotta prospect.

Massive sulphides in core from the Alotta prospect at ADZ.

The survey will target the strike and depth extensions to the host gabbro body, which is complexly folded within the ADZ claims.

Within the Lorraine project area, the survey will test the depth and strike of extensions at the Lorraine Mine which produced 600,000 tonnes of nickel-copper massive sulphide ore from 1965-68.

Earlier this year Chase changed its name from TopTung Ltd to better reflect its new strategic direction which encompasses the battery metals of nickel, copper, cobalt and PGE as well as gold at the Zeus projects.

These properties are held through Chase’s wholly-owned Australian subsidiary Zeus Minerals Pty Ltd and its wholly-owned Canadian subsidiary Zeus Olympus Sub Corp.

Chase aims to advance multi-commodity prospects in the BAGB, focusing on Lorraine and ADZ.

While seeking early exploration success in Quebec, the company is also continuing to advance the Torrington Topaz-Tungsten Project in northern NSW.

Recent testing has demonstrated that pure, separable, mullite whiskers can be produced from topaz concentrate sourced from Torrington.

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Fri, 15 Feb 2019 11:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214680/chase-mining-corporation-chairman-continues-to-build-holding-in-company-214680.html
<![CDATA[News - Chase Mining signs contract for VTEM survey over Canadian project areas ]]> https://www.proactiveinvestors.com.au/companies/news/214401/chase-mining-signs-contract-for-vtem-survey-over-canadian-project-areas-214401.html Chase Mining Corporation Ltd (ASX:CML) has signed a contract to fly an airborne electromagnetic (EM) geophysical survey over two areas within its Zeus project in southwest Quebec, Canada.

Targets within the claim blocks are nickel-copper-cobalt-precious metal massive sulphides associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers Greenstone Belt (BAGB).

The 718-kilometre survey will be flown by Geotech utilising a helicopter-borne VTEM Max system.

All historical drill sites comprising nickel, gold and base metal targets will be evaluated by the VTEM survey, which has a proven record of locating discrete conductors to depths of 300-400 metres.

VTEM survey areas

600,000 tonnes of massive sulphide ore

Within the Lorraine project area, the VTEM survey will test the depth and strike of extensions at the Lorraine Mine which produced 600,000 tonnes of nickel-copper massive sulphide ore from 1965-68.

A 2005 drill program identified strong off-hole EM anomalies in the hanging wall of the deposit and around 200-metres of strike modelled conductor will be evaluated by the VTEM system.

Reinterpretation of 2015 aeromagnetic data has delineated extensive target gabbro bodies within the Lorraine claims, which will be also covered by the survey.

Near surface nickel-copper-cobalt

At the Alotta-Delphi-Zullo (ADZ) Project diamond drilling has outlined a substantial near-surface nickel-copper-cobalt-precious metal massive sulphide lens at the Alotta prospect.

The survey will target the strike and depth extensions to the host gabbro body, which is complexly folded within the ADZ claims.

READ: TopTung to explore gold, nickel-copper potential at Lorraine project in Canada  

Previously named TopTung Ltd, the company and its consultants Orix Geoscience and Core Geophysics, have been acquiring historical data for the Lorraine project tenements which comprise 90 claims covering about 46 square kilometres.

The data has provided further information on the Lorraine copper-nickel-PGE (platinum group elements) mine with over 30 mine plans detailing the historical mining between 1964 and 68 and will be digitised in order to provide control for targeting future drilling as deemed necessary.

READ: Chase Mining Corporation chairman acquires 1 million shares on market

Chase Mining’s executive chairman Leon Pretorius has recently demonstrated his faith in the company’s exploration strategy by acquiring 1 million shares on market following those last month of director Charles Thomas, who purchased more than 1.435 million ordinary shares with a total value of almost $25,000.

 

Compilation of historical geological, geophysical reports and drill data has resulted in the delineation of extensive prospective host gabbro sills within the Lorraine and ADZ claim blocks.

The helicopter-borne VTEM Max system is an ideal tool for locating conductors in resistive terrane as is present in the BAGB.

Geotech will mobilise to site in late February to early March with preliminary data being available by late March 2019. 

- Jessica Cummins 

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Mon, 11 Feb 2019 20:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214401/chase-mining-signs-contract-for-vtem-survey-over-canadian-project-areas-214401.html
<![CDATA[News - Chase Mining Corporation chairman acquires 1 million shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/214304/chase-mining-corporation-chairman-acquires-1-million-shares-on-market-214304.html Chase Mining Corporation Ltd (ASX:CML) executive chairman Leon Pretorius has shown his faith in the company’s Canadian-focused exploration strategy by acquiring 1 million shares on-market.

The chairman’s on-market trades were made between February 4 and 8 and were valued at more than $17,600.

They take his overall holding of fully paid ordinary shares to 15 million.

READ: Chase Mining director Charles Thomas increases stake to 5.7 million shares

These acquisitions follow those last month of director Charles Thomas, who purchased more than 1.435 million ordinary shares through on-market trades with a total value of almost $25,000.

Thomas’ indirect holding now comprises 5.7 million ordinary shares.

READ: TopTung becomes Chase Mining Corporation Limited to better reflect new direction

Earlier this year Chase changed its name from TopTung Ltd to better reflect its new strategic direction which encompasses the battery metals of nickel, copper, cobalt and PGE as well as gold at the Zeus projects in Quebec, Canada.

These properties are held through Chase’s wholly-owned Australian subsidiary Zeus Minerals Pty Ltd and its wholly-owned Canadian subsidiary Zeus Olympus Sub Corp.

Chase aims to advance multi-commodity prospects in the Belleterre-Angliers Greenstone Belt, focusing on the Alotta and Lorraine projects.

READ: TopTung to explore gold, nickel-copper potential at Lorraine project in Canada

At Lorraine, the company will carry out electromagnetic surveys followed by drilling targeting both nickel-copper massive sulphides and gold mineralisation.

In addition, Chase is making enquiries regarding permitting requirements for dewatering and underground drilling and will also assess the status of the shaft at the historical Lorraine mine.

Consultants Orix Geoscience and Core Geophysics have been acquiring historical data for the Lorraine tenements, which comprise 90 claims covering about 46 square kilometres.

Historical production

Lorraine is reported to have produced 600,000 tonnes of ore at 1.08% copper and 0.46% nickel plus 14,000 ounces of gold and 86,000 ounces of silver with an unspecified PGE credit during the 1960s.

The company will also utilise new sectional and plan views as well as a wireframe model to help plan further exploration at Alotta prospect of the Alotta-Delphi-Zullo (ADZ) project.

READ: Chase Mining achieves quantifiable results in conversion of NSW topaz into mullite

While seeking early exploration success in Quebec, the company is also continuing to advance the Torrington Topaz-Tungsten Project in northern NSW.

Recent testing has demonstrated that pure, separable, mullite whiskers can be produced from topaz concentrate sourced from Torrington.

Producing a separable mullite fibre is the primary aim of a research program which is being undertaken by the University of New South Wales.

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Mon, 11 Feb 2019 09:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214304/chase-mining-corporation-chairman-acquires-1-million-shares-on-market-214304.html
<![CDATA[Media files - Chase Mining director updates on name change, and development of projects ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11869/chase-mining-director-updates-on-name-change-and-development-of-projects-11869.html Thu, 17 Jan 2019 10:05:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11869/chase-mining-director-updates-on-name-change-and-development-of-projects-11869.html <![CDATA[News - Chase Mining director Charles Thomas increases stake to 5.7 million shares ]]> https://www.proactiveinvestors.com.au/companies/news/212646/chase-mining-director-charles-thomas-increases-stake-to-57-million-shares-212646.html Chase Mining Corporation Ltd (ASX:CML) director Charles Thomas has indirectly purchased 1,435,661 ordinary shares through on-market trades for about $24,942.

His indirect holding now comprises 5.7 million ordinary shares and 1.5 million performance rights.

READ: TopTung becomes Chase Mining Corporation Limited to better reflect new direction

Earlier this month, TopTung changed its name to Chase Mining Corporation Limited to better reflect its new strategic direction focusing on battery metals as well as gold in Canada.

READ: TopTung to explore gold, nickel-copper potential at Lorraine Project in Canada

Chase is planning to commence exploration over its Lorraine Project in Quebec, Canada which will include electromagnetic surveys followed by drilling targeting both nickel-copper massive sulphides and gold mineralisation.

In addition to the exploration program, TopTung will assess the status of the Lorraine Mine shaft and make enquiries regarding permitting requirements for dewatering and underground drilling.

READ: Chase Mining achieves quantifiable results in conversion of NSW topaz into mullite ]]>
Wed, 16 Jan 2019 12:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212646/chase-mining-director-charles-thomas-increases-stake-to-57-million-shares-212646.html
<![CDATA[News - Chase Mining achieves quantifiable results in conversion of NSW topaz into mullite ]]> https://www.proactiveinvestors.com.au/companies/news/212543/chase-mining-achieves-quantifiable-results-in-conversion-of-nsw-topaz-into-mullite-212543.html Chase Mining Corporation Limited (ASX:CML) has produced quantifiable results which suggest that pure, separable, mullite whiskers can be produced from topaz concentrate sourced from its Torrington Tungsten-Topaz Project in NSW.

Producing a separable mullite fibre is the primary aim of the research program which is being undertaken by the University of New South Wales (UNSW).

A major processing breakthrough was also achieved resulting in several cost-saving measures being identified in the process design which include: operating at a lower furnace temperature; and topaz being fed into the furnace no longer requiring grinding or pelletising.

 

The present work reports data for the conversion of unmilled, as-received topaz in a loosely-packed bed using an enclosed crucible arrangement.

Calcination was conducted at 1,400-1,600 degrees Celsius for 1-3 hours using relatively rapid feed rates of 70-120 seconds over a 54-centimetre transit distance.

Samples were examined by field emission scanning electron microscopy (FESEM) and X-ray diffraction (XRD).

The XRD patterns of samples which were obtained using the closed crucible configuration show only one crystalline phase of mullite.

Importantly, no secondary phases such as alumina and silica were observed.

READ: Chase Mining to explore gold-nickel-copper potential at Lorraine project in Canada

The use of a loose bed of unmilled topaz and enclosure within nested crucibles appears to have enhanced retention of the vapour phase and resulted in the growth of well-formed and separable whiskers.

Longer heating times resulted in longer and thicker whiskers but also increase inter-fibre bonding strength, making grinding and separation more difficult.

The results confirm the importance of retention of the vapour phase to allow the availability of sufficient material for continuous mullite whisker growth.

Pictorial representation of the alumina crucible configuration used

  READ: Chase Mining’s models will help plan further exploration at ADZ project in Canada

Previous reports suggest that mullite whisker formation is possible only at specific calcination conditions such as: elevated temperatures above 1,600 degrees Celsius; following milling of topaz; and by pressing topaz into pellets.

These conditions are considered to facilitate vapour-solid interactions during the conversion from topaz to mullite.

It was concluded from the work that retention of the silicon tetrafluoride vapour at elevated temperatures assists the formation of mullite.

Milling was assumed to enhance gas formation and uniaxial pressing was assumed to enhance the vapour retention.

The calcination of as-received topaz without milling or pressing is suggested as an alternative approach in the research.

This approach has the advantage of facilitating vapour retention within the topaz sample being calcined.

Next steps

Upcoming work will include investigating topaz conversion at lower temperatures in closed crucibles as well as conditions conducive to the growth of fibres.

The company also intends to further develop means of separation and classification of mullite whiskers.

The Torrington project tenements in northern NSW

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Mon, 14 Jan 2019 20:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212543/chase-mining-achieves-quantifiable-results-in-conversion-of-nsw-topaz-into-mullite-212543.html
<![CDATA[News - TopTung becomes Chase Mining Corporation Limited to better reflect new direction ]]> https://www.proactiveinvestors.com.au/companies/news/212362/toptung-becomes-chase-mining-corporation-limited-to-better-reflect-new-direction-212362.html TopTung Ltd (ASX:TTW) has changed its name to Chase Mining Corporation Limited to better reflect its new strategic direction focusing on battery metals as well as gold in Canada.

The company will also have a new ASX code – ASX:CML - with the changes to take effect with the ASX on Monday, January 14, 2019.

Change approved by shareholders

Approval for the name change was granted by shareholders at a general meeting on January 9, 2019.

The company has also received a new Certificate of Registration from the Australian Securities and Investments Commission.

These changes also involve a new website - www.chasemining.com.au – which will be live by Friday, January 18, 2019.

READ: TopTung to explore gold, nickel-copper potential at Lorraine project in Canada

This week the company announced plans to begin exploration over its Lorraine project in Quebec, Canada, including EM surveys followed by drilling targeting nickel-copper massive sulphides and gold mineralisation.

In addition to the exploration, Chase will assess the status of the Lorraine mine shaft and make enquiries regarding permitting requirements for dewatering and underground drilling.

Consultants Orix Geoscience and Core Geophysics have over the last few months been acquiring historical data for the Lorraine tenements which comprise 90 claims covering about 46 square kilometres.

The data has provided further information on the Lorraine copper-nickel-PGE (platinum group elements) mine with over 30 mine plans detailing historical mining (1964-68).

READ: TopTung’s models will help plan further exploration at ADZ project in Canada

Also, earlier this week Chase said that it would utilise new sectional and plan views as well as a wireframe model to help plan further exploration at Alotta prospect of the Alotta-Delphi-Zullo (ADZ) project in Quebec.

The plans and models were prepared by Orix based on results of the company’s first drilling of the nickel, copper, PGE, cobalt and silver prospect.

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Fri, 11 Jan 2019 11:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212362/toptung-becomes-chase-mining-corporation-limited-to-better-reflect-new-direction-212362.html
<![CDATA[News - TopTung to explore gold, nickel-copper potential at Lorraine Project in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/212193/toptung-to-explore-gold-nickel-copper-potential-at-lorraine-project-in-canada-212193.html TopTung Ltd (ASX:TTW) is planning to commence exploration over its Lorraine Project in Quebec, Canada which will include electromagnetic surveys followed by drilling targeting both nickel-copper massive sulphides and gold mineralisation.

In addition to the exploration program, TopTung will assess the status of the Lorraine Mine shaft and make enquiries regarding permitting requirements for dewatering and underground drilling.

Background

TopTung’s consultants Orix Geoscience and Core Geophysics have over the last few months been acquiring historical data for the Lorraine Project tenements which comprise 90 claims covering about 46 square kilometres.

The data has provided further information on the Lorraine copper-nickel-PGE (platinum group elements) mine with over 30 mine plans detailing the historical mining (1964 - 68).

Importantly, the mine is reported to have produced 600,000 tonnes of ore at 1.08% copper and 0.46% nickel plus 14,000 ounces of gold and 86,000 ounces of silver with an unspecified PGE credit.

Lorraine Project locality map

The mine plans outline remnant ore in stopes - the partly stoped 5 Level, the undeveloped 6 Level and the 6 Level drift totalling about 450 metres of development to access the down plunge continuation of the mineralisation.

This data will be digitised in order to provide control for targeting future drilling as deemed necessary.

 

Gold potential

The Lorraine Mine data continues to confirm the gold potential of the footwall felsic volcanic/metasediment sequence.

This includes historical channel sampling from the 6th level drift at Lorraine Mine returning 28.04 metres at 37.42 g/t gold and 33.74 g/t silver.

Evaluation of the gold potential of the Lorraine Mine and the wider project area will commence once all data has been reviewed.

READ: TopTung’s models will help plan further exploration at ADZ project in Canada

The review of the geophysical data from Lorraine by Core Geophysics has delineated additional gabbro units (the host to the nickel-copper mineralisation) as extensions undercover to the known outcrop/mineralised bodies.

In addition, the review highlighted a zone of strong induced polarisation (IP) anomalies in gabbro west of the Lorraine Mine.

TopTung has received a quote to fly the entire Lorraine claim block with helicopter-borne VTEM (Versatile Time Domain Electromagnetic).

It is anticipated that the VTEM survey will be flown in the current quarter or early in the second, as it is subject to contractor availability and clear weather conditions.

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Wed, 09 Jan 2019 12:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212193/toptung-to-explore-gold-nickel-copper-potential-at-lorraine-project-in-canada-212193.html
<![CDATA[News - TopTung’s models will help plan further exploration at ADZ project in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/212099/toptungs-models-will-help-plan-further-exploration-at-adz-project-in-canada-212099.html TopTung Ltd (ASX:TTW) will utilise new sectional and plan views as well as a wireframe model to help plan further exploration at Alotta prospect of the Alotta-Delphi-Zullo (ADZ) project in Quebec, Canada.

The plans and models were prepared by consultants Orix Geoscience based on results of TopTung’s first drilling of the nickel, copper, platinum group elements (PGE), cobalt and silver prospect.

READ: TopTung shares surge after intersecting high-grade nickel-copper in Quebec, Canada

These nine holes returned nickel-copper intersections of up to 9.20 metres from 85.2 metres at 2.59% nickel, 2.79% copper, 3.37 g/t PGE and 0.11% cobalt.

Each hole intersected nickel-copper-PGE plus cobalt and silver mineralisation which included significant high-grade massive sulphide and semi-massive intercepts.

The wireframe model of the Alotta deposit at a 0.5% nickel-copper cut-off extends from surface to 80 metres depth, has a long axis (strike) of 75 metres and is up to 20 metres thick.

It is based on historical and 2018 drilling and will be suitable for use in a future resource estimation.

Alotta wireframe 3D model looking WNW.

Although mineralisation is closed-off by the wireframing, the deposit remains open down-plunge to the WNW and along strike to the ESE.

The deposit appears to be cut-out below 190 metres elevation by feldspar porphyry intrusive bodies but this would need to be confirmed by deep drilling and possibly downhole electromagnetics.

READ: TopTung focuses on Canadian nickel-copper sulphides, NSW topaz

TopTung said that knowledge of the Alotta geology and mineralisation acquired from the drill program would assist it in the evaluation of other known mineralisation in the ADZ project area.

The company is pleased with the potential economic value of the mineral endowment at Alotta, giving confidence to its goal of becoming a mining and low-cost toll milling operation through identifying shallow emplaced ore bodies amenable to open pit mining.

Helicopter VTEM will now be flown over the ADZ this quarter in conjunction with the planned program at the Lorraine project, subject to contractor availability and clear weather.

This VTEM data is expected to upgrade the 2001 AeroTEM and 2002 MegaTEM coverage which identified the known deposits.

TopTung is aiming to announce a work program in the coming weeks which will be based on the existing geology and drilling results together with any new geophysical data.

READ: Meteoric Resources NL set to begin initial drilling at Joyce project in Canada

On Monday, the company advised Meteoric Resources NL (ASX:MEI) that it would not proceed with the proposed acquisition of the Midrim and LaForce projects in Canada.

The decision has been taken as a result of present market conditions and a decision to focus on evaluating the full potential of its Zeus portfolio in Quebec.

Subsequently, TopTung has withdrawn two resolutions at tomorrow’s general meeting of shareholders relating to the proposed acquisition.

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Tue, 08 Jan 2019 12:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212099/toptungs-models-will-help-plan-further-exploration-at-adz-project-in-canada-212099.html
<![CDATA[Media files - TopTung more than doubles landholding in Belleterre-Angliers greenstone belt ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11272/toptung-more-than-doubles-landholding-in-belleterre-angliers-greenstone-belt-11272.html Wed, 21 Nov 2018 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11272/toptung-more-than-doubles-landholding-in-belleterre-angliers-greenstone-belt-11272.html <![CDATA[News - TopTung to acquire three advanced nickel-copper projects in Canada, aims for production ]]> https://www.proactiveinvestors.com.au/companies/news/209419/toptung-to-acquire-three-advanced-nickel-copper-projects-in-canada-aims-for-production-209419.html TopTung Ltd (ASX:TTW) has entered a conditional agreement to acquire 100% of Canadian Nickel Corporation Pty Ltd (CNC) which holds three advanced nickel-copper sulphide projects in the same Quebec district as TopTung’s Alotta project.

The acquisition fast-tracks TopTung’s focus on becoming a mining and low-cost toll-milling operation through the acquisition of advanced near-surface, high-grade deposits.

CNC is in conditional agreements to acquire the three projects, with Meteoric Resources NL (ASX:MEI) holding the Midrim and LaForce projects and Globex Mining Enterprises Inc (TSX:GMX) holding the Lac Kelly project.

 

TopTung will complete the acquisition by issuing 15.75 million fully paid ordinary shares to CNC shareholders.

Under a conditional claim agreement between Meteoric, CNC and TopTung for Midrim and LaForce, TopTung will issue a further 31.25 million shares to Meteoric.

The option to acquire Lac Kelly from Globex Mining will be completed through staged cash payments and share issues to Globex, as well as a C$2 million commitment by TopTung for exploration and development.

CNC will also pay Globex a 2% gross metal royalty on all revenue received from the sale of metal from Lac Kelly.

A further 2.35 million TopTung shares will be issued to GTT Ventures for corporate services relating to the transaction.

READ: TopTung shares surge after intersecting high-grade nickel-copper in Quebec, Canada

Acquiring CNC’s portfolio will more than double TopTung’s landholding in Quebec’s Belleterre-Angliers greenstone belt.

The project areas contain a number of drill-proven occurrences of nickel-copper sulphide mineralisation with associated platinum group elements (PGE) and cobalt credits.

Midrim is 1.5 kilometres east of where TopTung completed a 9-hole diamond drilling program at its Alotta project and follows its acquisition of the nearby Zeus project from earlier this year.

CNC has commissioned a third-party scoping study to assess the viability and profitability of a simple mining, trucking and toll milling operation based on Midrim.

The study is nearing completion and will allow TopTung to determine what scale of operation and grade of mineralisation is required for its business model to be viable in respect to future projects in the area.

  High-grade assay results

Historical intersections from Midrim include 21.2 metres at 1.75% nickel. 2.81% copper and 2.58 g/t PGE from 14 metres; and 4.6 metres at 5.97% nickel, 4.91% copper and 3.38 g/t PGE from 48 metres.

A broad historical intersection of 39.4 metres at 1.91% nickel, 1.85% copper and 2.57 g/t PGE from 30 metres included high-grade intercepts of 4.35 metres at 6.29% nickel, 2.9% copper and 6.21 g/t PGE from 46.65 metres; and 4.3 metres at 6.57% nickel, 5.15% copper and 7.15 g/t PGE from 57.15 metres.

Drilling by Meteoric late last year at Midrim intersected 22.1 metres at 1.64% nickel, 2.38% copper and 2.56 g/t PGE from 28 metres; and 9.4 metres at 3.52% nickel, 4.25% copper and 4.59 g/t PGE from 56 metres, including 5.4 metres at 5.32% nickel, 6.14% copper and 6.46 g/t PGE from 56.6 metres.

Preliminary metallurgical test work at Midrim has produced strong nickel and copper recoveries, with up to 95% copper and 80% nickel recoveries after just 10 minutes of simple flotation.

READ: TopTung focuses on Canadian nickel-copper sulphides, NSW topaz

Historical drilling at LaForce focused directly around the deposit and a core library containing 35 of 108 historic diamond drill holes, representing 5,438 metres of core, is available for inspection.

Previous work at LaForce drilled broad intercepts including 100 metres at 0.87% nickel and 0.38% copper from 3 metres.

LaForce’s deposit also has a non-JORC historical nickel-copper resource estimate which TopTung plans to disclose under the relevant ASX rules.

Lac Kelly comprises six exploration claims and previous drilling of 98 holes intersected mineralisation to outline a sulphide body about 150 metres long, 10 metres thick and 335 metres deep.

The PGE content was not rigorously studied but intersections up to 7.93 metres at 4.8 g/t PGE were encountered, with most PGE values returned varying between 0.5-1 g/t platinum and palladium.

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Sun, 18 Nov 2018 23:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209419/toptung-to-acquire-three-advanced-nickel-copper-projects-in-canada-aims-for-production-209419.html
<![CDATA[News - TopTung granted trading halt ahead of material acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/209054/toptung-granted-trading-halt-ahead-of-material-acquisition-209054.html TopTung Ltd (ASX:TTW) has been granted a trading halt by the ASX pending an announcement relating to a material acquisition.

The trading halt will remain in place until the earlier of commencement of trading on November 15, 2018 or when the announcement is released to the market.

READ: TopTung shares surge after intersecting high-grade nickel-copper in Quebec, Canada

Earlier today, the company revealed positive assay results from the nine-hole maiden drill program at its high-grade nickel sulphide Alotta project in Quebec, Canada.

High-grade massive sulphide nickel-copper intersections returned include:
• 9.20 metres at 2.59% nickel, 2.79% copper, 3.37g/t PGE (platinum group elements) and 0.11% cobalt from metres 85.20 metres; and
• 11.28 metres at 2.17% nickel, 2.15% copper, 2.94g/t PGE and 0.11% cobalt from metres 61.15 metres.

Importantly, TopTung is pleased with the potential economic value of the mineral endowment at Alotta, giving confidence to its goal of becoming a mining and low-cost toll milling operation through identifying shallow emplaced ore bodies amenable to open pit mining.

The company is currently evaluating the extensive regional and prospect database acquired through the Zeus Minerals Ltd acquisition with a view generating drill targets.

Prior to the next drill program in the Alotta Project area TopTung is planning to undertake a down-hole electromagnetic (DHEM) survey in the search for sub-surface conductors which could represent additional massive sulphide drill targets.

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Tue, 13 Nov 2018 13:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209054/toptung-granted-trading-halt-ahead-of-material-acquisition-209054.html
<![CDATA[News - TopTung shares surge after intersecting high-grade nickel-copper in Quebec, Canada ]]> https://www.proactiveinvestors.com.au/companies/news/209052/toptung-shares-surge-after-intersecting-high-grade-nickel-copper-in-quebec-canada-209052.html TopTung Ltd (ASX:TTW) has received positive assay results from the nine-hole maiden drill program at its high-grade nickel sulphide Alotta project in Quebec, Canada.

High-grade massive sulphide nickel-copper intersections returned include:
• 9.20 metres at 2.59% nickel, 2.79% copper, 3.37g/t PGE (platinum group elements) and 0.11% cobalt from metres 85.20 metres;
• 11.28 metres at 2.17% nickel, 2.15% copper, 2.94g/t PGE and 0.11% cobalt from metres 61.15 metres; and
• 3.27 metres at 2.06% nickel, 3.77% copper, 3.09g/t PGE and 0.12% cobalt from metres 53.10 metres.

READ: TopTung focuses on Canadian nickel-copper sulphides, NSW topaz

TopTung is encouraged by the fact that each hole in the 9-hole programme intersected nickel-copper-PGE ± cobalt ± silver mineralisation which included significant high-grade massive sulphide and semi-massive intercepts.

Importantly, TopTung is pleased with the potential economic value of the mineral endowment at Alotta, giving confidence to its goal of becoming a mining and low-cost toll milling operation through identifying shallow emplaced ore bodies amenable to open pit mining.

 

The results include new intersections to depth and along strike of the previously drilled (2001) mineralisation providing the company with vital geological and mineralisation information plus fresh core to work with.

This will assist in the major task of assessing the historic nickel-copper-PGE mineralisation database for the project area.

Lower massive pyrrhotite-pyrite zone from 63.3 metres to 68.60 metres (5.30 metres) at 3.04% nickel + 25.4 g/t silver

TopTung’s consultants Orix Geoscience are digitising the 2018 and 2001 drill sections and flitch plans to generate a 2D/3D wireframe model of the Alotta deposit.

Forward plan

The company is currently evaluating the extensive regional and prospect database acquired through the Zeus Minerals Ltd acquisition with a view generating drill targets.

Prior to the next drill program in the Alotta Project area TopTung is planning to undertake a down-hole electromagnetic (DHEM) survey in the search for sub-surface conductors which could represent additional massive sulphide drill targets.

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Tue, 13 Nov 2018 12:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209052/toptung-shares-surge-after-intersecting-high-grade-nickel-copper-in-quebec-canada-209052.html
<![CDATA[News - Chase Mining focuses on Canadian nickel-copper sulphides ]]> https://www.proactiveinvestors.com.au/companies/news/208194/chase-mining-focuses-on-canadian-nickel-copper-sulphides-208194.html Chase Mining Corporation Ltd (ASX:CML), formerly TopTung Ltd (ASX:TTW), is entering a new chapter in its history after the company’s shareholders approved its acquisition of Canadian company Zeus Minerals Ltd and its portfolio of nickel-copper sulphide projects in Quebec.

The acquisition, approved on October 3, was described as an important development for the company in its quarterly activities report published yesterday and a unique opportunity in a November investor presentation published today.

In March, the company signalled it was changing its corporate strategy after a downgrade in tungsten resources at its Torrington Tungsten and Topaz Project in New South Wales (NSW).

The company's decision to pick up Zeus in Canada has introduced tonnes-in-ground to its asset base, including 'bonanza-grade' historical results of 28.04 metres at 37.42 g/t gold and 33.74 g/t silver from channel sampling at the 1960s Lorraine mine in Quebec.

Recorded production at the mine included 600,000 tonnes of ore producing more than $100 million in metal in less than 24 months between 1964 and 1968, grading 1.57% copper, 0.62% nickel and 0.02 oz/t gold, with unspecified amounts of silver, platinum group elements and cobalt.

Sulphide-bearing samples from mullock dumps at Lorraine prospect, in the Lac Des Bois project area, contained up to 13.8 g/t gold.

The company, which has a market capitalisation of $7.04 million and enterprise value of $3.29 million, is now focused on class-one nickel-copper sulphides.

The historical Lorraine Nickel-Copper Mine in Quebec

Geologist and non-executive director Marnus Bothma told Proactive Investors’ Stocktube channel: “TopTung is a company that held a tungsten project in NSW, the Torrington project.

“Recently, at the start of October, we finalised the acquisition of a number of nickel-copper sulphide projects in Canada, just about 600 kilometres north of Toronto, so really prime real estate, and as part of that acquisition, I joined the board.

“I was the managing director of the unlisted public company that held these assets but, so as part of that transaction, I have come on the board, I have joined (directors) Martin Kavanagh and (Dr) Leon Pretorius and Charles Thomas.

“And so we have recently done that acquisition and we’re ready to hit the road running.”

Geochemist and major investor Pretorius is the company's executive chairman and largest shareholder, having a 6.76% stake earlier today.

Nickel geologist Kavanagh and GTT Ventures founding partner and executive director Thomas are both non-executive directors in TopTung.

GTT Global has a 5.52% stake in TopTung.

Canadian acquisitions  

With its $1.3 million cash-and-scrip Zeus acquisition, TopTung added two principal project areas and three “highly-prospective” sub-projects along the Belleterre-Angliers greenstone belt in Eastern Canada to its portfolio.

The acquisition adds another 63.5 square kilometres to its prospective land.

Bothma told Stocktube: “We’ve acquired three different project areas in that belt, one area contains Alotta-Delphi-Zullo occurrences, one area is the Lorraine area and the other area is Laverlochere.

“Laverlochere is a little bit more greenfields, we don’t know too much about it, but as part of the package we felt that it bolstered the project portfolio so we acquired that as well.”

The grading of historical results from Canada excites Twitter users

Drilling started on October 5, 2018, at Alotta prospect, intersecting massive nickel-copper sulphides in broad zones.

Bothma said: “Alotta-Delphi-Zullo projects, they’re all proven copper-nickel sulphide deposits, very high grade, up to about 6% nickel equivalent in places.

“The high-grade, shallow-lying (deposits), you can find them quite easily.”

Speaking on Alotta drilling, TopTung yesterday said: “The program was visually very successful with varying widths of sulphide mineralisation intersected in all nine holes drilled, while broad zones of massive, net textured and disseminated mineralisation occurred in seven holes.

“Samples have been dispatched to an analytical laboratory and results are expected in a couple of weeks.”

Speaking about Lorraine, Bothma told Stocktube: “Lorraine historically produced … in today’s dollars over $100 million of material in 600,000 tonnes of dirt.

“Those are the areas – we find them very prospective for additional copper-nickel sulphide occurrences.”

The Torrington project tenements in northern NSW

Company assets

TopTung had 153,247,653 shares on issue and no options on September 30, 2018, increasing shares on issue to 206,961,938 by today.

Two packages of performance shares exist in the company's securities – 6.75 million at 7.5 cents and 6.75 million at 10 cents.

The company held $3.44 million in cash at the end of the September 2018 financial quarter and two material tenements.

Since quarter-end the company has added to its reserves, having $3.75 million cash today.

Besides top shareholder, chairman Pretorius (6.76%) and Thomas-linked GTT Global (5.52%), major shareholders include Hustler Investments (4.83%), Southern Reaches (4.61%), Kitara Investments Pty Ltd (2.28%), Steven Scott Day (2.28%) and Mounts Bay Investments (Director) (2.06%).

The company has a tight capital structure, with the top 20 shareholders holding 51% while the top 40 shareholders have 68%. 

Yesterday the company flagged its material tenements held in the September quarter were the Torrington 1 project, on tenement EL 8258, and Torrington 2 on EL 8355, both in NSW.

Torrington project is still a focus for TopTong, but with a narrowed focus to developing its topaz-mining capacity first-up as its wholly-owned subsidiary Topfibre Pty Ltd conducts federally-funded research into Torrington topaz at the University of New South Wales (UNSW).

The university’s School of Materials Science and Engineering has three-year Federal Government Australian Research Council (ARC) funding to undertake advanced research with industry partner TopTung on the topaz’s production of single mullite fibres by thermal decomposition.

In March the company reported Torrington’s igneous rock – silexite – contains between 15% and 20% topaz, “an aluminosilicate mineral that contains about 20% fluorine (F) which is released during the thermal decomposition of the topaz.

Mineralised silexite with grey-white quartz, translucent grey topaz, black tungsten (ferberite) and oxidised bismuth pale orange

The company reported tungsten would be a by-product from any of its topaz production.

TopTung said in March: “The fluorine will be re-utilised completely in a closed system to generate sodium silicofluoride, which is a widely-used fluoridiser for drinking water.”

The company then set a Silexite exploration target of 2 to 4 million tonnes grading at 15-20% topaz at Wild Kate in its update on future strategy.

Yesterday it said: “Large-scale topaz concentrate sample has been dispatched to an overseas abrasives manufacturing and supply company for product suitability testing.

“This will assist with determining the product’s potential economic importance as a driver for the project.”

TopTung said if it found an industrial or agricultural market for the kaolinitic clay that overlies the Wild Kate silexite deposit and other Torrington silexite bodies, it would help the project’s economics.

Land use at Torrington in NSW

Regulatory approvals

Mining lease application MLA547 and related reports are currently on hold for the Torrington project as the company seeks permission from Water NSW to use water in its operation.

The mining application is focused on topaz and a staged approach to project development.

A Forestry Corporation permit has already been received for the project to harvest Torrington State Forest run-off water.

— With Danielle Doporto

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Wed, 31 Oct 2018 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208194/chase-mining-focuses-on-canadian-nickel-copper-sulphides-208194.html
<![CDATA[Media files - TopTung advancing new Canadian projects alongside Australian Torrington Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10923/toptung-advancing-new-canadian-projects-alongside-australian-torrington-project-10923.html Fri, 19 Oct 2018 10:18:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/10923/toptung-advancing-new-canadian-projects-alongside-australian-torrington-project-10923.html <![CDATA[News - TopTung Ltd confirms valuable tungsten concentrate at Torrington ]]> https://www.proactiveinvestors.com.au/companies/news/165649/toptung-ltd-confirms-valuable-tungsten-concentrate-at-torrington-70868.html TopTung Ltd (ASX:TTW) has got confirmation from two independent laboratories that its tungsten concentrate from the Torrington Project located in northeast New South Wales is a marketable product.

Generally, the market will accept a 62% tungsten trioxide concentrate although 65% is preferred – TopTung’s concentrate has assayed 69%.

Furthermore, the high quality concentrate was produced using a simple non-chemical separating processing method and contained no deleterious elements.

The remaining 700 kilograms of the original bulk sample for metallurgical test work will now be processed by mid-October and further test work will be carried out on diamond core in 2017.

The company is in the process of advancing permitting in order to conduct a drilling programme at Torrington.

Torrington has been historically mined for tungsten, bismuth and topaz.

Tungsten is considered a critical raw material of economic importance giving rise to the strategic significance of the Torrington project.

At the end of the June quarter, TopTung had $4.6 million cash.

 

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, 06 Sep 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165649/toptung-ltd-confirms-valuable-tungsten-concentrate-at-torrington-70868.html
<![CDATA[News - Toptung Ltd eyes drilling in NSW tungsten region ]]> https://www.proactiveinvestors.com.au/companies/news/146611/toptung-ltd-eyes-drilling-in-nsw-tungsten-region-68846.html Toptung Ltd (ASX:TTW) has lodged the Review of Environmental Factors (REF) and associated documentation towards a planned drilling program at the Torrington Tungsten and Topaz Project in New South Wales.

The Leon Pretorius chaired company has also received notification from the Division of Resources and Energy (DRE) that the REF and its included documents have been determined to be ‘administratively complete’.

The Torrington area has amassed more than 100 years of mining activity, with Pacific Copper producing tungsten and topaz from mid 1970’s to early 80’s.

Toptung holds two contiguous exploration licences prospective for shallow primary tungsten mineralisation with potential for later by-product sales of industrial grade topaz.

The project contains a mineral resource of 2,146,000 tonnes at 0.23% WO3 for 4,965 tonnes WO3.

The company will commence drilling in September, assuming no further delays in the approval processes.

Toptung is well funded with cash at bank of $4.7 million as on 31 March, 2016.


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Thu, 26 May 2016 18:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146611/toptung-ltd-eyes-drilling-in-nsw-tungsten-region-68846.html
<![CDATA[News - Krucible Metals makes a discovery ]]> https://www.proactiveinvestors.com.au/companies/news/146610/krucible-metals-makes-a-discovery-58422.html Krucible Metals (ASX:KRB) is preparing a discovery announcement following recent exploration and current drilling on its Tobermorey EL28170 tenement in the Northern Territory.

The ASX has granted the company a trading halt to organise, with its shares placed in pre-open.

Krucible recently said that new exploration to the west of Tobermorey by a number of exploration companies has identified further new copper occurrences.

Tobermorey is prospective for copper/gold mineralisation similar to IOCG style deposits such Tropicana and Olympic Dam, related to magnetic and or major structural features.

The halt will remain in place until the opening of trade on Monday 27th October 2014, or earlier if an announcement is made to the market.

 

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Thu, 23 Oct 2014 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146610/krucible-metals-makes-a-discovery-58422.html
<![CDATA[News - Krucible Metals is cash backed and next door to BHP Billiton ]]> https://www.proactiveinvestors.com.au/companies/news/146609/krucible-metals-is-cash-backed-and-next-door-to-bhp-billiton-56956.html Krucible Metals (ASX:KRB) is capitalised at $4.8 million, holds $5.8 million in cash (and $5.1 million in term deposits) and controls an area of undrilled land near BHP Billiton's (ASX:BHP) giant Cannington zinc-lead-silver mine in Queensland.

Krucible's Cowie Mag project is within 20 kilometres of the Cannington Mine, in the same structural corridor, yet there has been no drilling work in the application area.

Cannington has grown to become the world’s largest and lowest cost producer of silver and lead.

In July Krucible completed preliminary reconnaissance sampling which identified geology considered highly prospective for lead, zinc and silver mineralisation.

Assay results from rock chip samples collected are expected in around 4 weeks, and Krucible plans to complete further geochemical sampling in the coming months.

Further south Krucible has identified a molybdenum-lead anomaly from lag sampling which is interpreted to extend south into Krucible’s recently granted Tertiary project area.

The company holds numerous greenfields projects in and around the Cannington and Mt Isa regions of Queensland.

Krucible also noted in its most recent quarterly report that is it assessing project acquisition opportunities, and has added graphite and tungsten to its metals of interest.

 

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Fri, 15 Aug 2014 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146609/krucible-metals-is-cash-backed-and-next-door-to-bhp-billiton-56956.html
<![CDATA[News - Krucible Metals is cash backed and more ]]> https://www.proactiveinvestors.com.au/companies/news/146608/krucible-metals-is-cash-backed-and-more-54699.html Krucible Metals (ASX: KRB) boasts over $11 million is cash, within its market capitalisation of just $5 million.

The robust bank balance is due to the $12 million sale of its phosphate assets in January to Australia New Agribusiness & Chemical Group (ASX: ANB) in January.

Krucible is now looking to acquire new mineral projects, and is currently exploring its existing greenfields copper assets in Queensland and the Northern Territory.

Its Tobermorey prospect lies on the edge of the Simpson Desert in eastern Northern Territory, where an airborne magnetic and radiometric survey is due to be flown next month.

To the east of Tobermorey lies Krucible’s Champ Prospect at Toomba, where drilling has returned up to 3 metres at 2.4% copper from 12 metres, and 428ppm lead in a quartz breccia subcrop.

Interpretations of this anomaly suggest it may be part of the Stella and Dukes Shear zones, and is thought to extend between Champ and Toomba.

The company also controls a suite of rare earth prospects.

 

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Mon, 05 May 2014 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146608/krucible-metals-is-cash-backed-and-more-54699.html
<![CDATA[News - Krucible Metals kicks off copper exploration in Queensland and Northern Territory ]]> https://www.proactiveinvestors.com.au/companies/news/146607/krucible-metals-kicks-off-copper-exploration-in-queensland-and-northern-territory--54243.html Krucible Metals (ASX:KRB) has commenced and scheduled exploration initiatives over several of its Queensland and Northern Territory green field tenements.

The Tobermorey prospect lies on the edge of the Simpson Desert in eastern Northern Territory, where an airborne magnetic and radiometric survey is due to be flown next month.

To the east of Tobermorey lies Krucible’s Champ Prospect at Toomba, where drilling has returned up to 3 metres at 2.4% copper from 12 metres, and 428ppm lead in a quartz breccia subcrop.

Interpretations of this anomaly suggest it may be part of the Stella and Dukes Shear zones, and is thought to extend between Champ and Toomba.

Exploration is now underway at Champ incorporates geochemical sampling of relatively untested prospect areas as well as participating in a simultaneous research project using biogeochemistry sampling techniques.

Biogeochemical exploration technologies are initiatives exploiting flora uptake characteristics that will add to Krucible’s repertoire of exploration tools in Queensland.

Further exploration of these areas will provide Krucible with a greater understanding of their prospective features and assist with defining drilling targets.

Krucible also has tenements prospective for rare earths, and is capitalised at $5 million.

Notably, the company is sitting on a $10 million cash pile after selling phosphate assets to Australia New Agribusiness & Chemical Group (ASX:ANB) in January.

 

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Thu, 10 Apr 2014 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146607/krucible-metals-kicks-off-copper-exploration-in-queensland-and-northern-territory--54243.html
<![CDATA[News - Krucible Metals granted Queensland rare earth lease ]]> https://www.proactiveinvestors.com.au/companies/news/146606/krucible-metals-granted-queensland-rare-earth-lease-51264.html Krucible Metals (ASX: KRB) has been granted the Coorabulka EPM19286 lease in Queensland that is prospective for rare earths and will now progress its exploration plans.

Previous sampling had returned anomalous values in heavy and light rare earths.

The company plans to carry out intensive gridded sampling to determine the extent of Rare Earth Element mineralisation below shallow cover to define future drilling/costean targets.

It has also applied for selective new ground adjacent to and surrounding Coorabulka.

The company added that it has completed the first leaching trial involving Coorabulka REE rich material to determine the actual proportion of Rare Earth Elements and Phosphates leached from the ore.

The leaching technology used for this first trial is LogiCamms’ proprietary process for the leaching of Phosphates with simultaneous leaching of Rare Earth Elements.

This process is conducted in a low-intensity/low-energy input manner at ambient temperature that lead to low super-saturation levels expected to allow the practical recovery of Rare Earth Oxides by ion exchange and/or liquid-liquid extraction.

This contrasts with conventional phosphoric acid plant technology that operates at temperatures significantly above ambient temperature and results in many compounds crystalising from solution given time and temperature reduction.

Laboratory analyses are planned to be conducted through January 2014 to confirm the extent of leaching that has been achieved during the leaching operations.

The trials should provide key information to allow the assessment of the economics of treating Coorabulka enrichment through simple mining, dry screening to recover nodules and heap leaching and recovery of valuable constituents using LogiCamms’ proprietary technology.

The mineralogy of the Coorabulka nodules is advantageous for the heap leaching process because of the sub micron crystal size and high nodule porosity. The nodules have a high strength and do not contain thorium.

 

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Wed, 18 Dec 2013 16:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146606/krucible-metals-granted-queensland-rare-earth-lease-51264.html
<![CDATA[News - Krucible Metals to sell phosphate tenements ]]> https://www.proactiveinvestors.com.au/companies/news/146605/krucible-metals-to-sell-phosphate-tenements-49850.html Krucible Metals (ASX: KRB) has agreed to complete the $12 million sale of its phosphate tenements to Australia New Agribusiness & Chemical Group (ASX:ANB) by 31 January 2014.

In return for the deferment of payment, ANB will increase the purchase price by $275,000.

ANB will also immediately release to Krucible the remaining deposit of $860,000 to pay associated tenement maintenance costs through to the new completion date and make a 10% instalment off the purchase price by 31 December.

Krucible's phosphate bearing tenements consist of the Orella trial mining lease, six exploration leases and five exploration applications.

New Agri Group

Australia New Agribusiness & Chemical Group was previously known as Daton Group Australia Ltd.

 

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Tue, 05 Nov 2013 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146605/krucible-metals-to-sell-phosphate-tenements-49850.html
<![CDATA[News - Krucible Metals in pre-open ]]> https://www.proactiveinvestors.com.au/companies/news/146604/krucible-metals-in-pre-open-49497.html Krucible Metals (ASX: KRB) has been granted a trading halt by the Australian Stock Exchange today, with the company's shares currently in pre-open.

Krucible requested the halt pending the finalisation and release of an announcement concerning the status of the agreement with Australian New Agribusiness and Chemicals Ltd which was agreed for completion on 24 October 2013.

The will remain in place until Tuesday 29th October 2013, or earlier if an announcement is made to the market.

 

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, 25 Oct 2013 13:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146604/krucible-metals-in-pre-open-49497.html
<![CDATA[News - Krucible Metals moves closer to $12m windfall from sale of phosphate tenements ]]> https://www.proactiveinvestors.com.au/companies/news/146603/krucible-metals-moves-closer-to-12m-windfall-from-sale-of-phosphate-tenements-47659.html Krucible Metals (ASX: KRB) is likely to open higher on the news than the company's sale of phosphate assets to the Australia New Agribusiness & Chemical Group (New Agri Group) is proceeding according to the terms of the sale and purchase agreement.

Considering its market cap. of just $4 million, Krucible's shares are positioned to potentially jump higher once the deal is completed.

In May this year, the New Agri Group signed a contract to acquire from Krucible's phosphate bearing tenements for $12 million.

These consist of the Orella trial mining lease, six exploration leases and five exploration applications. A deposit of $960,000 was made to Krucible after the execution of the purchase agreement.

The sale and purchase agreement between Krucible and New Agri Group was structured to allow sufficient time to complete a series of conditions precedent.

These included Krucible’s shareholders to approve the sale, for Krucible to comply with ASX listing rules, for the company to acquire the residual equity in its Pilgrim tenement from Deep Yellow (ASX: DYL) and for the company to execute the necessary Indicative Title Transfer documentation for each tenement being sold.

Krucible has completed all of those tasks.



New Agri Group

Australia New Agribusiness & Chemical Group was previously known as Daton Group Australia Ltd.

 

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Fri, 06 Sep 2013 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146603/krucible-metals-moves-closer-to-12m-windfall-from-sale-of-phosphate-tenements-47659.html
<![CDATA[News - Krucible Metals to explore near BHP's Cannington Mine ]]> https://www.proactiveinvestors.com.au/companies/news/146602/krucible-metals-to-explore-near-bhps-cannington-mine-38826.html Krucible Metals (ASX: KRB) has outlined its exploration program for 2013 field season, with the company to focus base metals, rare earths, precious metals and possibly others like uranium.

This exploration plan follows the anticipated sale of its phosphate bearing tenements to Daton Group Australia for a total consideration of $12 million.

Krucible has allocated a budget of $912,000 which is proposed to complete the intended exploration for 2013, which will start in the Cannington area with further surface sampling over target areas, and then extend to other areas.

Of interest Krucible's EPM19028 (EPM granted in May 2012) is within 20 kilometres of the Cannington Mine, yet there has been no drilling or field exploration work in the application area.

Cannington is wholly owned by BHP Billiton (ASX: BHP) and has grown to become the world’s largest and lowest cost producer of silver and lead. The operation consists of an underground mine and metallurgical processing facility.

These additional areas include; Korella, if JV; REE/Strontium leaching, metallurgical work; Yttro, for REE and phosphate if JV; Merlin Tank/Puma, copper if JV; Toomba, drilling; Tobermorey, reconnaissance exploration; Cowie Mag surface exploration and drilling; Coorabulka, dependent on being approved; and Recon exploration on the Isa West area.


Cannington: Base metal exploration

In the Cannington area (EPM17621), over the next year Krucible plans to further investigate anomalies with additional infill surface sampling, and potentially complete geophysical surveys to outline any overlapping anomalies.

This would then help define a geological model to plan a shallow drill program for these areas during the year.

At (EPM19028), Krucible has completed desktop interpretations of this area and believes the area to have good potential for Molybdenum/Vanadium/REE (Rare Earth Elements) plus Uranium enrichment associated with the unconformity between the Toolebuc Formation and the underlying Proterozoic granites.

Furthermore with the proximity of the Cannington and Eloise Mines and the under explored ground, potential for basemetal and gold mineralisation within the underlying shallow (>200m) Proterozoic basement is high.

 

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, 29 Jan 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146602/krucible-metals-to-explore-near-bhps-cannington-mine-38826.html
<![CDATA[News - Krucible Metals accepts Daton Group Australia’s A$12M cash offer for phosphate assets ]]> https://www.proactiveinvestors.com.au/companies/news/146601/krucible-metals-accepts-daton-group-australias-a12m-cash-offer-for-phosphate-assets-38607.html Krucible Metals (ASX: KRB) has agreed to sell its Queensland phosphate tenements to Daton Group Australia (ASX: DTG) for A$12 million after receiving the attractive non-binding cash offer from the group.

The proposal relates to all 13 of Krucible’s phosphate tenements, including the Korella deposit and mining lease.

Australian fertilizer manufacturer Daton is interested in manufacturing advance value-added fertilisers and is seeking a long-term stable supply of preferably locally-mined phosphate of appropriate grade.

Krucible’s Korella phosphate deposit is considered suitable as it is the only high grade direct shipping ore phosphate resource in Australia adjacent to existing infrastructure, near to surface and ready to mine. 


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, 23 Jan 2013 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146601/krucible-metals-accepts-daton-group-australias-a12m-cash-offer-for-phosphate-assets-38607.html
<![CDATA[News - Krucible Metals to reveal phosphate tenement details ]]> https://www.proactiveinvestors.com.au/companies/news/146600/krucible-metals-to-reveal-phosphate-tenement-details-38500.html Krucible Metals (ASX: KRB) is in pre-open this afternoon following the granting of a trading halt by the ASX, pending details relating to the termination of its joint venture with Getax International Pte Ltd and its entry into a conditional sale of its phosphate tenements to another purchaser.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 23rd January 2013.

 

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Mon, 21 Jan 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146600/krucible-metals-to-reveal-phosphate-tenement-details-38500.html
<![CDATA[News - Krucible Metals finds more heavy rare earths in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/146599/krucible-metals-finds-more-heavy-rare-earths-in-queensland-35806.html Krucible Metals’ (ASX: KRB) follow up surface sampling has returned further strong anomalous results for Heavy Rare Earth Elements (HREE) at its Coorabulka project in Queensland.

Values of up to 0.62 kilograms per tonne (kg/t) dysprosium oxide, 4.49kg/t neodymium oxide, 1.07kg/t praseodymium oxide and 3.16kg/t yttrium oxide have been returned from samples over 1 kilometre west of the original ‘borrow pit’ location.

Some samples consisted of similar concretionary nodules in a clay dominant matrix while others comprised a white chalky shale found in sub‐outcrop.

More geological investigations need to be completed on the area to determine the extent of the REE and where they are likely to concentrate. A systematic surface geochemical sampling program over specific areas may be completed to highlight areas with potential for REE enrichment.

Concretionary samples from Coorabulka are also being tested through new beneficiation technology. If successful this will provide a more environmentally stable and more efficient process of beneficiating the REE. Results from this process will be announced when received.

In addition to the REEs, samples have also returned lead, phosphate and strontium.

Up to 1,050ppm lead has been received from the samples and may be associated with Proterozoic fluids permeating up through the sediments along preferential pathways.

A strong magnetic complex underlies the relatively shallow sedimentary ‘cover’ units and this is considered to be an ideal setting for Cannington style Lead – Zinc – Silver mineralisation.

While no modelling has been completed, Krucible’s observations suggest an approximate depth of 150 metres to 300 metres.

Low to medium grade phosphate of up to 17.8% phosphate has also being observed in this sampling.

Phosphate is associated with the barium and strontium in the mineral Svanbergite and is also associated with the mineral Florencite which has been identified from petrological investigations on the concretions.

Of interest is the assay results of up to 9.47% strontium that have being been returned from the most recent sampling and appear to be strongly anomalous in areas of REE enrichment. This metal has a high market value because of its use in aluminium alloys.

Recent prices for strontium metal ranges from US$4,800 to US$6,800 per tonne FOB.

The Cretaceous Toolebuc Formation which is interpreted to be present below surface about 20 metres and 30 metres deep is also prospective for uranium/molybdenum/vanadium mineralisation as well as oil shales.

The Coorabulka EPMA19286, which is located 200km south of the Korella yttrium and rock phosphate resource is expected to be granted in early 2013.

Krucible will then complete more extensive exploration in line with its new exploration strategy.

 

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Wed, 14 Nov 2012 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146599/krucible-metals-finds-more-heavy-rare-earths-in-queensland-35806.html
<![CDATA[News - Krucible Metals unearths strongly anomalous results for heavy rare earths at Coorabulka ]]> https://www.proactiveinvestors.com.au/companies/news/146598/krucible-metals-unearths-strongly-anomalous-results-for-heavy-rare-earths-at-coorabulka--24029.html Krucible Metals (ASX: KRB) has discovered heavy rare earths comprising 1.2 kilograms per tonne yttrium oxide, 4.02 kilograms per tonne neodymium oxide, 1.08 kilograms per tonne praseodymium oxide and 0.23 kilograms per tonne dysprosium oxide from surface sampling near the Pigeongah waterhole at Coorabulka in Queensland.

From the surface sampling, yttrium averaged 946 parts per million, neodymium averaged 3,440 parts per million, praseodymium averaged 922 parts per million and dysprosium averaged 195 parts per million.

No drilling for rare earths has been carried out to date at the Coorabulka and Yttro exploration permit for minerals applications.

Surface sampling at Yttro, 15 kilometres northwest of Korella, has previously returned up to 2.2 kilograms per tonne neodymium oxide and 1.8 kilograms per tonne yttrium oxide.

Krucible has applied for exploration permit for minerals (EPMA 19286 and 19476) at Coorabulka over this sedimentary basin environment which is considered to be prospective for large scale, shallow heavy rare earth elements/phosphate.

The company is hoping EPMA19286 will be granted by late 2012 for drill testing to begin in 2013.

Coorabulka is also prospective for oil shales in the Toolebuc Formation and Cannington Style lead-zinc-silver deposits in the underlying Proterozoic basement.

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Wed, 11 Jan 2012 13:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146598/krucible-metals-unearths-strongly-anomalous-results-for-heavy-rare-earths-at-coorabulka--24029.html
<![CDATA[News - Krucible Metals bumps up heavy rare earth inferred resource at Korella in Queensland to 7.03Mt ]]> https://www.proactiveinvestors.com.au/companies/news/146597/krucible-metals-bumps-up-heavy-rare-earth-inferred-resource-at-korella-in-queensland-to-703mt-20546.html Krucible Metals’ (ASX:KRB) recent reverse circulation percussion drilling program at its Korella Yttrium Deposit in Queensland has returned a 65% increase to its JORC inferred resource to 7.03 million tonnes (Mt) at 0.96 kilograms per tonne of yttrium oxide.

A total of 47 holes were drilled for 2101 metres, comprising 1999 metres of reverse circulation percussion drilling and 102 metres of aircore.

A number of Yttrium enriched zones were returned from the recent drilling as well as from former holes that were not previously assayed for rare earths.

At lower cut-offs of plus-300 parts per million yttrium and 20% phosphate, the combined inferred resources equal about 22Mt, comprising 9.6Mt at 0.72 kilograms per tonne yttrium oxide and 8.3Mt at 27.3% phosphate.

At higher cut-offs of plus-500 parts per million yttrium and 25% phosphate, the combined inferred resources equal about 12Mt.

Modelling and interpretation of the drilling information has shown that there are two separate north-south zones of yttrium enrichment – the Eastern Zone and the Western Zone.

In the Eastern Zone, the enriched yttrium layer sits immediately above the high grade phosphate (plus-20% phosphate) layer or immediately to the west where the yttrium overlaps lower grade phosphate (usually less than 15% phosphate).

In the Western Zone, the yttrium zone is associated with clays/low grade phosphate at a low level that has been up faulted.

Krucible said there was also a third possible zone of yttrium enrichment, east of the Mehaffey Fault, where the mobile yttrium enrichment zones had not yet been adequately drill tested.

Anomalous Neodymium and Scandium values were also returned, one metre intervals up to 831 parts per million of Neodymium and 336 parts per million Scandium, from hole CBRC 161 which is open to the north.

In the Western Zone only about 1.8 kilometres of the 5 kilometre possible strike length has been drill tested to date.

Preliminary mineralogical test work has shown that the yttrium is contained in XENOTIME – this mineral occurs in a number of heavy rare earth elements deposits around the world and is usually amenable to hydro-metallurgical extraction.

Over the next six months Krucible will begin metallurgical test work from recent drill samples to determine likely value adding options, including beneficiation upgrades and acid digest – solvent extraction processes, as well as possible direct shipping ore.

Krucible said as long as the metallurgy could be solved, the shallow (20 to 40 metres) flat lying nature of the yttrium layers in relatively soft rocks should facilitate cost effective mining.

Geological/geochemical modelling of available data suggests that more zones of yttrium enrichment are likely to be delineated, both at Korella and in surrounding areas.

Korella is 150 kilometres south-east of Mt Isa, and located just 5 kilometres from the Phosphate Hill mine, owned and operated by Incitec Pivot (ASX: IPL).

Yttrium is critical to the production of super-alloys, super-magnets and super-conductors that are being increasingly used in high tech industries such as mobile phones, computers, laser communications and hybrid cars.

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Mon, 10 Oct 2011 15:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146597/krucible-metals-bumps-up-heavy-rare-earth-inferred-resource-at-korella-in-queensland-to-703mt-20546.html
<![CDATA[News - Krucible Metals maiden yttrium Inferred JORC Resource delights market ]]> https://www.proactiveinvestors.com.au/companies/news/146596/krucible-metals-maiden-yttrium-inferred-jorc-resource-delights-market-15238.html Krucible Metals (ASX: KRB) has defined a maiden yttrium Inferred JORC Resource at the company's Korella Phosphate Deposit near Mt Isa.

The Inferred Resource is; 4.2 million tonnes at 746 grams per tonne yttrium, or 0.96 kilograms / tonne.

In intra-day trade today, the shares have traded close to 100% higher, and are currently up 55% at $0.325.

The resource was identified as part of an ongoing Scoping Study to determine the value of the resource, with the study to now focus on a detailed assessment of the continuity and extension of the rare earths enrichment zone.

Yttrium is critical to the production of super-alloys, super-magnets and super-conductors that are being increasingly used in high tech industries such as; mobile phones, computers, laser communications and hybrid cars.

 

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Tue, 05 Apr 2011 15:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146596/krucible-metals-maiden-yttrium-inferred-jorc-resource-delights-market-15238.html
<![CDATA[News - Krucible Metals identifies yttrium enriched blanket at Korella ]]> https://www.proactiveinvestors.com.au/companies/news/146595/krucible-metals-identifies-yttrium-enriched-blanket-at-korella-14277.html Krucible Metals (ASX: KRB) has used systematic assaying of the drill hole database to identify a consistent blanket of yttrium enrichment lying immediately above a high grade phosphate zone, at the Korella Phosphate deposit.

Recent intersections include:

- 3 metres at 0.245% yttrium from 20 metres; and
- 16 metres at 0.092% yttrium from 16 metres.

The next step for Krucible is mineralogical and metallurgical test work needs to be undertaken to determine the characteristics and composition of the possible rare earth element ore.

If amenable to beneficiation, the yttrium zone could be mined as overburden in the excavation of the relatively high grade and pure phosphate.

Korella is 150 kilometres south-east of Mt Isa, and located just 5 kilometres from the Phosphate Hill mine, owned and operated by Incitec Pivot (ASX: IPL).

 

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Mon, 28 Feb 2011 12:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146595/krucible-metals-identifies-yttrium-enriched-blanket-at-korella-14277.html
<![CDATA[News - Krucible Metals intersects copper and uranium at the Garnet Prospect ]]> https://www.proactiveinvestors.com.au/companies/news/146594/krucible-metals-intersects-copper-and-uranium-at-the-garnet-prospect-11454.html In the first time the blind magnetic anomaly at the Garnet Prospect has been drilled, Krucible Metals (ASX: KRB) has intersected copper and uranium.

Drilling highlights include:

- 10 metres at 0.18% copper from 98m;
- 3 metres at 0.71% copper and 120ppm uranium from 136m; and
- 2 metres at 0.12% Copper and 75ppm Uranium from 98m.

This Garnet Prospect is strategically located 20km south-west of the BHP Billiton (ASX: BHP) Cannington Silver, Lead Mine and 35km north-east of the Ivanhoe Australia (ASX: IVA) Osborne Copper Gold Mine.

A total of 5 wide spaced RC percussion holes were drilled for 852 metres, with 3 of the 5 holes displaying visible copper with accompanying strong magnetic and sulphide alteration.

Krucible’s preliminary success identifies the prospectivity potential of the company’s landholdings in the world class Cannington-Osborne, for both IOCG and Broken Hill style mineralisation.

Drilling is expected to resume at Garnet in the first quarter of 2011 after geological and geophysical modelling has been carried out.

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Fri, 05 Nov 2010 11:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146594/krucible-metals-intersects-copper-and-uranium-at-the-garnet-prospect-11454.html
<![CDATA[News - Krucible Metals steps closer to developing Korella phosphate deposit ]]> https://www.proactiveinvestors.com.au/companies/news/146593/krucible-metals-steps-closer-to-developing-korella-phosphate-deposit-7690.html Krucible Metals (ASX: KRB) has reported that the Queensland Department of Mines & Energy have accepted 2 Mining Lease Applications (MLA 90208 and MLA 90209) lodged by Korella Phosphate Pty Ltd and has completed a drilling program at the Pilgrim copper prospect.

Korella Phosphate, a wholly owned subsidiary of Krucible, has been formed to develop the high grade phosphate deposit (5 million tonnes @ 30.7% P2O5) located about 150km SE of Mount Isa in NW Queensland and adjacent to the Phosphate Hill Mine – owned and operated by Incitec Pivot Ltd.

MLA 90209 covers an area of 1,577 hectares and is designed to cover the whole operation. A smaller lease (MLA 90208; 25 hectares) has also been pegged to facilitate trial mining and bulk sampling for potential customers. The company anticipates that this smaller lease will be granted within twelve months.

The company awaits details of the Initial Advice Statement (IAS) and Environmental Impact Study (EIS) that will be finalised with the Government departments.

A scoping study on the Korella deposit outlined an NPV (Net Present Value) of $Au83 million at a discount hurdle rate of 15% and assuming a rock phosphate price of $Au200/tonne and $Au0.90 conversion rate (recent devaluation of the Aussie dollar to about 82 cents improves the NPV to about $Au90 million).

The scoping study examined the costs of setting up a direct shipping ore (DSO) operation, utilising the nearby Government owned railway line and transporting to a port at Townsville.

A profitable margin is indicated for this operation which essentially is a quarry operation without need of any wet beneficiation processes, for at least 7 years.

Tony Alston, managing director, said the company is proceeding with its mining applications in spite of the Australian government's resources super profits tax and "the pegging of these leases represents a milestone for Krucible."

An RC percussion drill program has just been completed at the Pilgrim Prospect, located about 12km north of the Phosphate Hill Mine. It is a Joint Venture with Deep Yellow Ltd (ASX:DYL) and can earn Krucible 80% equity by spending $400,000 over four years.

The company said it will be 2-3 weeks before final analytical results are received and interpreted.

No obvious high grade copper zones were intersected in the drilling, but widespread alteration indicative of an IOCG system has been observed and preliminary Niton readings in the field have indicated up to 1% copper.

Significant Uranium and Phosphate zones also appear to have been intersected in shallow Cambrian cover rocks.

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Mon, 07 Jun 2010 13:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146593/krucible-metals-steps-closer-to-developing-korella-phosphate-deposit-7690.html
<![CDATA[News - Krucible Metals commences drilling on Pilgrim copper gold prospects ]]> https://www.proactiveinvestors.com.au/companies/news/146592/krucible-metals-commences-drilling-on-pilgrim-copper-gold-prospects--7224.html Krucible Metals (ASX: KRB) has commenced drilling on the copper, gold and silver prospects on the Pilgrim prospect (EPM 10572), located in the Mount Isa district, approximately 30 km north of Phosphate Hill Mine and the company’s Korella Phosphate project in Queensland.

Krucible is the operator in the joint venture with Deep Yellow (ASX: DYL) and and can earn 80% equity by spending $400,000 over four years.

Previous announcements to the ASX, the latest being 15th April 2010, reported significant multi-element surface values, such as 28.1% copper, 5.07 g/t gold, 13.5 g/t silver and 134 ppm molybdenum from the Pilgrim breccia/fracture prospect.

The company said the completely covered Humphries Hill prospect reported 0.72% copper, 8.73g/t silver and 459ppm uranium.

Dennis Lovell, director and company secretary, commented that "the planned drilling program is for 2,000 to 3,000 metres of mainly RC percussion drilling, to an average depth of 70 metres. "

"Only minor previous/historical drilling has been recorded, so this program should be considered as first-pass 'wildcat drilling', " he added.

Krucible said access is often difficult due to the rugged terrain, so the planned drill holes are not on a regular grid, but spaced to obtain a fair coverage of the two prospects.

Lovell said results from this drilling, including assays, should be available within six weeks.

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Mon, 17 May 2010 11:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146592/krucible-metals-commences-drilling-on-pilgrim-copper-gold-prospects--7224.html
<![CDATA[News - Krucible Metals sees further potential for high grade copper at Pilgrim in QLD ]]> https://www.proactiveinvestors.com.au/companies/news/146591/krucible-metals-sees-further-potential-for-high-grade-copper-at-pilgrim-in-qld-5552.html Krucible Metals (ASX: KRB) have announced that further encouraging Copper/Gold results have been received from the Pilgrim EPM 15072, located about 150km SE of Mount Isa and 25km north of the Phosphate Hill Mine in Queensland.

Previous results from exploration at Pilgrim have been reported in Krucible ASX Announcements on the 10th December 2009 and 25th January 2010. Pilgrim is a joint venture with Deep Yellow Ltd.

Tony Alston, Managing director, said recent rock chip sampling at Pilgrim has returned values of up to 36.25% Copper and 2.2 g/t Gold from outcrop and subcrop. This sampling extends the Copper zone that returned up to 30.7% Copper and 11.3 g/t Gold from previous float and subcrop sampling.

Rock chip and soil sampling has now defined a NNW trending Copper zone that is over 900 metres long and is open to the north and south. This anomaly is over Proterozoic rocks of the Corella Formation which hosts a number of economic deposits such as Tick Hill (Gold) and Trekelano (Copper/Gold).

There is also a strong Copper soil anomaly over Iron rich breccias to the north – these are close to the Cambrian/Proterozoic fault contact and may represent Copper mineralisation at depth.

The Copper Gold mineralisation is associated with the contacts of regional magnetic anomalies and is located within the highly prospective N-S Pilgrim Fault Corridor. Elevated Silver, Molybdenum and Tellurium assays, support a polymetallic IOCG (IronOxide Copper Gold) model for Pilgrim.

No previous exploration work appears to have been carried out on the Copper mineralisation discovered by Krucible, nor are there any historic workings.

The company said further work including surface sampling, mapping and ground geophysics is planned for this prospect in the next 4-6 weeks. This will be followed by drill testing.

This tenement is subject to a Joint Venture with Deep Yellow Ltd (DYL) whereby Krucible can earn 80% equity by expenditure of $400,000 over 4 years. Krucible has the right to 100% ownership by issue of one million KRB shares.

The Pilgrim Prospect area is also located about 5km SE of the historic high grade Gold Tick Hill Mine and 70km NW of the operating Copper/Gold Mine at Osborne (Barrick Australia Ltd).

This very prospective zone is mainly underlain by altered calc-silicate breccias and granitoids of the Proterozoic Corella Formation which hosts the Tick Hill gold deposit as well as the Trekelano Mine (Copper, Gold – 21km to NNW) and the Kalman deposit (Copper, Molybdenum – 67km to the North).

During the course of a semi-regional lag sampling program at Pilgrim in November 2009 visible Copper was observed by Krucible geologists in float samples.

These assayed up to;

30.7% Copper, 10.25 g/t Gold, 29.9 g/t Silver, 15.1 g/t Tellurium.

In December 2009 follow up rock chip sampling of boulder float and sub-outcrop of Proterozoic
basement returned up to;

23.3% Copper, 11.3 g/t Gold, 31.4 g/t Silver and 17.6 g/t Tellurium.

Further rock chip sampling in February 2010 of mainly outcrop and sub outcrop returned assays
up to;

36.2% Copper, 2.20 g/t Gold, 25.1 g/t Silver & 14.5 g/t Tellurium.

The field program carried out in February 2010 (between storms) comprised soil and rock chip
sampling and geological mapping.

This recent work has been successful in delineating a NNW zone of intermittent high grade IOCG mineralisation over a strike length of about 900 metres – this is open to the north and south and has never been drill tested.

The Copper/Gold mineralisation is associated with magnetite/hematite and “red rock” alteration within the Corella Formation and is also associated with magnetic contact zones outlined from broad regional aeromagnetic images.

Detailed ground magnetic and conductivity surveys are planned to better delineate the mineralisation both at surface and at depth.

Krucible said it should be pointed out that the breccia/vein mineralisation exposed to date is only of local extent (generally in mainly soil covered ground) but the high grades encountered over +900 metres as well as the geological setting auger well for the possible discovery of significant high grade sulphide related mineralisation.

There is also a strong Copper soil anomaly to the north at Humphries Hill that is associated with Iron rich breccias and a strong magnetic anomaly. The soil anomaly is over younger Cambrian sediments close to the faulted contact with Proterozoic basement.

It is interpreted that these breccias could be hosting re-circulating Copper rich fluids emanating from a mineralised body at depth, associated with a magnetic intrusive body.

Field work to date at Pilgrim has been hampered by the current wet season. However, more work (comprising soil sampling, geological mapping and geophysical surveys) is planned for March/April 2010. The company hopes to commence drill testing in May/June 2010 after Native Title clearances have been obtained.

The company said historical open source information indicates excellent potential for high grade Phosphate rock within the Pilgrim EPM 15072 about 3kms from the Copper Gold discovery. This will be assessed as part  of Krucible’s intended Phosphate mine feasibility study.

Krucible Metals shares rose 5% to 40 cents in trading today.

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Wed, 10 Mar 2010 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146591/krucible-metals-sees-further-potential-for-high-grade-copper-at-pilgrim-in-qld-5552.html
<![CDATA[News - Krucible Metals report strongly anomalous results at Toomba and Pilgrim ]]> https://www.proactiveinvestors.com.au/companies/news/146590/krucible-metals-report-strongly-anomalous-results-at-toomba-and-pilgrim-3745.html Junior mineral exploration company Krucible Metals (ASX: KRB) has announced strongly anomalous results have been returned from surface samples collected during recent field programs at Toomba and Pilgrim in Western Queensland.

The tenement is located about 150km SE of Mount Isa and is subject to a Joint Venture with Deep Yellow whereby Krucible can earn 80% equity by expenditure of $400,000 over 4 years.

Krucible also has the right to 100% ownership by issue of one million KRB shares.

The Pilgrim Prospect area is located about 5km SE of the historic high grade Gold Tick Hill Mine.

Recently Krucible carried out a surface lag sampling program; comprising 221 samples at 200 x 200 metre spacing over an area of about 4.8 x 2.2km. A number of Gold and Copper anomalies were outlined from this survey.

During the course of the above work visible Copper was noted in a number of iron rich float samples with maximum values up to 10.25 g/t Gold, 30.7% Copper and 0.28% Molybdenum.

Extensive lag sampling has also outlined a number of Gold and Copper anomalies that have not been rock chip sampled to date.

A high resolution aeromagnetic / radiometric survey has been recently flown in the frontier Simpson Desert region at Krucible’s wholly owned Toomba EPM. This will assist in “seeing through” the prevailing sand cover and defining broad target areas for follow up in 2010.

Recent reconnaissance sampling at Toomba has returned up to 1.44g/t Gold from near the Stella Prospect, which is located about 10km south of the Champ Prospect, where Copper mineralisation has been outlined from first pass drilling this year.

A Scoping Study is in progress on the Phosphate deposit at PHM South within the 100% Krucible owned Corella Bore tenement, located near the Phosphate Hill Mine owned and operated by Incitec Pivot.

The Scoping Study is examining the likely economic parameters for a direct shipping ore (DSO) operation and is supervised by Krucible director and senior Metallurgist Ray Koenig.

An Environmental Baseline Study has also commenced, prior to the onset of the wet season, to assist with the application of a possible Mining Lease in 2010.

The results of this Study are likely to be finalised in February 2010 and will determine the parameters for a possible Pre-Feasibility Study.

 

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Thu, 10 Dec 2009 08:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146590/krucible-metals-report-strongly-anomalous-results-at-toomba-and-pilgrim-3745.html
<![CDATA[News - Krucible Metals releases final drill results at Champ Prospect in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/146589/krucible-metals-releases-final-drill-results-at-champ-prospect-in-queensland-3471.html Krucible Metals (ASX: KRB) has delivered the final results from drilling at the Champ Prospect within the Toomba Project, located in the Simpson Desert about 350km SSW of Mount Isa in western Queensland.

Krucible has drilled a total of 54 air core and RC percussion holes for 2808 metres, of which 23 holes have been drilled on the Stella Prospect and 31 holes at the Champ Prospect.

The drilling has been supported by a grant from the Queensland Government as part of the “Collaborative Drilling Initiative Round 3”.

Better holes from the drilling at the Champ Prospect include intersections of 2 metres @ 1.23% Copper from 62m in hole TMRC 44, 9 metres @ 0.43% Copper from 36m in hole TMRC 45, 6 metres @ 0.41% Copper from 26m in hole TMRC 47 and 12 metres @ 0.16% Zinc from 32m in hole TMRC 34.

Previous drilling returned intersections of 27 metres @ 0.40% Copper from 9m in hole TMRC 29, including 3m @ 2.4% Copper from 12m.

At the Champ Prospect, 4 steeply dipping and NNW trending lodes appear to have been defined from the limited drilling to date – these are all open to the north & south where the lodes are obscured by sand cover.

Further drilling, both along strike and at depth, is planned next year for this potential new “frontier” discovery.

Meanwhile, systematic surface geochemical sampling over an area of 10 by 3.5km has outlined at number of metal anomalies (Gold, Copper, Lead, Zinc & Vanadium) that have yet to be drill tested and may be important for future exploration success.

Krucible has recently commissioned a high resolution aeromagnetic / radiometric survey (over an area of 16 by 16km) to better understand the geology & structures, hidden beneath the prevailing sand cover.

Results of this survey, combined with the drilling & surface geochemical & geological information gleaned from work in 2009, is expected to add a new dimension to understanding of controls on possible mineralization & thus advance drill targets for testing in 2010 and beyond.

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Wed, 25 Nov 2009 11:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146589/krucible-metals-releases-final-drill-results-at-champ-prospect-in-queensland-3471.html
<![CDATA[News - Krucible Metals raises $2.72 million to develop Australian projects ]]> https://www.proactiveinvestors.com.au/companies/news/146588/krucible-metals-raises-272-million-to-develop-australian-projects-2925.html Krucible Metals (ASX: KRB) has placed 8.5 million shares to raise $2.72 million to help progress its projects in the Mt Isa region of Australia.

The company placed 500,000 shares at 32c per share under a deal subject to shareholder approval.

The proceeds will add to the Krucible’s existing cash reserves of $2.6 million, enabling the company to progress a prefeasibility study on the PHM South Phosphate deposit and carry out further exploration on its iron oxide copper gold prospects in 2010.

News of the placement saw shares rise by 2c, or 4.9 per cent, to 43c yesterday.

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Tue, 20 Oct 2009 06:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146588/krucible-metals-raises-272-million-to-develop-australian-projects-2925.html
<![CDATA[News - Krucible Metals increases phosphate resource at Corella Bore ]]> https://www.proactiveinvestors.com.au/companies/news/146587/krucible-metals-increases-phosphate-resource-at-corella-bore-2586.html Krucible Metals (ASX: KRB) has increased the inferred resource for its PHM South deposit based on recent RC percussion drilling over the southern half of its phosphate-enriched 3.7km strike length.

The PHM South deposit is within Krucible’s wholly owned Corella Bore tenement which is located about 150 km south east of Mount Isa and 5 km south of the Phosphate Hill Mine, owned and operated by Incitec Pivot.

As a result of the recent drilling the Managing Director of Krucible, Tony Alston, believes that with favourable market conditions there is an opportunity at PHM South to set up a viable commercial operation for premium phosphate products.

The phosphate content doubled at 10% P2O5 cut‐off and increased by 73% and 42% respectively at the 20% and 25% cut‐offs.

Krucible has identified a relatively simple stratigraphic phosphate orebody that has an interim JORC compliant Inferred Resource of 8.3 million tonnes @ 27.3% P2O5 (at 20% cut‐off) and 5.0 million tonnes at 30.8% P2O5 (at 25% cut‐off).

It is currently carrying out a Scoping Study to ascertain a range of economic parameters for mining and aims to produce up to 3.6 million tonnes at around 32% P2O5 over a 6 year period, at an annualised rate of 0.6 million tonnes.

The scenario envisaged for this operation is mining high grade direct shipping ore (DSO) as a dry mining operation without the need for any wet beneficiation processes.

If the Scoping Study is positive (this includes projection of phosphate prices in the future) then the company will initiate a prefeasibility study (PFS) to determine if it is feasible to convert the high grade inferred resource to a minable resource in an optimised pit scenario at the rate of 0.5 million tonnes a year.

Infill drilling will be carried out during the PFS to advance the high grade DSO resource to indicated/measured status.

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Fri, 18 Sep 2009 12:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146587/krucible-metals-increases-phosphate-resource-at-corella-bore-2586.html