Proactiveinvestors Australia Cervantes Corporation Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Cervantes Corporation Ltd RSS feed en Tue, 18 Jun 2019 03:08:49 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Cervantes Corporation chairman shows faith in gold strategy through on-market purchase ]]> https://www.proactiveinvestors.com.au/companies/news/217825/cervantes-corporation-chairman-shows-faith-in-gold-strategy-through-on-market-purchase-217825.html Cervantes Corporation Limited (ASX:CVS) executive chairman Collin Vost has demonstrated his confidence in the company’s gold strategy by purchasing 1 million shares on-market.

The chairman now holds 55.07 million shares in an indirect interest.

As a result of these transactions in late March and early April, this indirect interest, a superannuation fund, has increased its substantial holding in Cervantes to 11.05% from 10.85%.

READ: Cervantes Corporation updates Albury Heath Mine gold resource

Cervantes recently updated the inferred mineral resource for its 100%-owned Albury Heath Mine deposit in Western Australia to 528,000 tonnes at 2.09 g/t gold for 35,500 ounces.

Recent drilling has shown that areas of bonanza grade gold, up to 202.8 g/t, or 6.5 ounces/tonne, exist in the mine area.

Follow-up drilling showed that, while the lode zones are generally continuous, the gold grades tend to be erratic.

Consequently, Cervantes has decided that it is prudent to classify the entire resource as an inferred resource.

Additional close spaced drilling will be needed to establish gold grade continuity.

READ: Cervantes Corporation features Albury Heath in corporate strategy

The company has also identified five regional targets as possible Albury Heath Mine lookalikes.

Five target areas have been outlined and all are associated with the Mt Magnet-Tuckabianna fault belt on which the Albury Heath Mine is located, or the Gabanintha Fault, or the intersection of the two.

Both these faults are associated with major gold mineralisation in the district.

There has been only very limited exploration activity over these areas with previous workers having focused on the area directly around the historic mine.

A fast geochemical reconnaissance program, using Mobile Metallic Ion (MMI) sampling and assaying techniques will be used as a first pass to assess the five targets prior to drill testing if warranted.

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Wed, 03 Apr 2019 17:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217825/cervantes-corporation-chairman-shows-faith-in-gold-strategy-through-on-market-purchase-217825.html
<![CDATA[News - Cervantes Corporation features Albury Heath in corporate strategy ]]> https://www.proactiveinvestors.com.au/companies/news/217331/cervantes-corporation-features-albury-heath-in-corporate-strategy-217331.html Cervantes Corporation Limited (ASX:CVS) specialises in exploration in Australia. It is run by Collin Vost, a securities dealer who has more than 20 years of experience in corporate matters. Vost has assisted many junior companies as a board member and has been involved with the stockbroking industry for many years.

What does Cervantes own?

The South Perth company’s key assets are the Albury Heath Gold Project near Meekatharra in Western Australia and the inland Primrose Pit project on the edge of the Primrose Fault in WA.

Cervantes has been pursuing a corporate strategy to pursue “fast wins” at low-sovereign-risk projects, in its home state of WA.

South-Perth based Cervantes has previously encountered bonanza-grade gold at Albury Heath, a project at a historical mine near established infrastructure in the Mid West-Murchison region town of Meekatharra.

Two weeks ago the company updated its gold resource for the wholly-owned Albury Heath project, to 528,000 tonnes of inferred resources grading 2.09 g/t gold for a contained 35,479 ounces when a lower 0.3 g/t gold cut-off is applied.

Bonanza grade gold of up to 202.8 g/t, or 6.5 ounces per tonne, is found in the mine area.

The project is within 25 kilometres of two mills that could process any output from Albury Heath.

Cervantes’ Primrose Pit project is located on the Paynes Find Goldfield which is named after its previous explorer Paynes Find Gold Ltd (ASX:PNE).

The Primrose Fault is a shear zone that extends for 8 kilometres.

Included in the Primrose Pit’s project area is a small historical mine known as the Pansy Pit.

Cervantes believes the project has potential for more ounces than are featured at Albury Heath.

Inflection points

Capital-raising milestones

Significant transactions

Executive chairman Collin Vost shares de-risking plans

“Albury Heath is delivering some excellent bonanza grade gold zones,” executive chairman Collin Vost said.

“While we need to do more work to demonstrate the consistency [of] these zones, it is prudent that we classify the resource as inferred.

“The upside is clearly there, however, and Cervantes will continue to de-risk this project for the benefit of our shareholders.”

 

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Fri, 29 Mar 2019 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217331/cervantes-corporation-features-albury-heath-in-corporate-strategy-217331.html
<![CDATA[News - Cervantes Corporation updates Albury Heath Mine gold resource ]]> https://www.proactiveinvestors.com.au/companies/news/216245/cervantes-corporation-updates-albury-heath-mine-gold-resource-216245.html Cervantes Corporation Ltd (ASX:CVS) has updated the inferred mineral resource for its 100% owned Albury Heath Mine deposit in Western Australia to 35,500 gold ounces (uncut).

Summary of inferred resources at Albury Heath above a lower cut-off of 0.3 g/t gold. No top cut applied.

Recent drilling by Cervantes has shown that areas of bonanza grade gold, up to 202.8 g/t gold, or 6.5 ounces/tonnes, exist in the mine area.

Follow-up drilling showed that, while the lode zones are generally continuous, the gold grades tend to be erratic.

Consequently, Cervantes has decided it is prudent to classify the entire resource as an inferred resource. Additional close spaced drilling will be needed to establish gold grade continuity.

READ: Cervantes Corporation drills seven holes into bonanza gold prospect

Cervantes executive chairman Collin Vost said: “Albury Heath is delivering some excellent bonanza grade gold zones.

“While we need to do more work to demonstrate the consistency these zones, it is prudent that we classify the resource as Inferred.

“The upside is clearly there, however, and Cervantes will continue to derisk this project for the benefit of our shareholders.”

 

Interpretation of aeromagnetic data over Cervantes’ tenements in the Albury Heath Project has identified a number of possible repetitions of the Albury Heath Mine structural setting.

Five target areas have been outlined. All are associated with either the Mt Magnet-Tuckabianna fault belt on which the Albury Heath Mine is located, or the Gabanintha Fault, or the intersection of the two.

Aeromagnetic image showing Cervantes’ tenement holdings, position of major interpreted faults and target zones for follow-up.

Both these faults are associated with major gold mineralisation in the district. Surprisingly, there has been only very limited exploration activity over these areas, previous workers having focussed on the area directly around the historic mine.

A fast geochemical reconnaissance program, using Mobile Metallic Ion (MMI) sampling and assaying techniques will be used as a first pass to assess the five targets prior to drill testing if warranted.

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Tue, 12 Mar 2019 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216245/cervantes-corporation-updates-albury-heath-mine-gold-resource-216245.html
<![CDATA[News - Cervantes Corporation welcomes Oakajee as Paynes Find neighbours ]]> https://www.proactiveinvestors.com.au/companies/news/213118/cervantes-corporation-welcomes-oakajee-as-paynes-find-neighbours-213118.html Cervantes Corporation Limited (ASX:CVS) has welcomed Oakajee Corporation Limited (ASX:OKJ) as a new player in the Paynes Find area of WA’s Mid-West.

Oakajee, which intends to relist on the ASX, has the potential to earn into 80% of a number of tenements surrounding Cervantes’ Primrose project in the Murchison Province.

This comes from Oakajee entering a binding sale purchase agreement to acquire exploration, prospecting and mining licence rights across the Paynes Find Greenstone Belt.

Paynes Find history

These tenements are adjacent to Paynes Find settlement, a former gold rush settlement, around 455 kilometres northeast of Perth.

The Paynes Find area showing Cervantes’ Primrose project area  flanked by Oakajee.

 

The landholding represents the second largest project area within the Paynes Find Greenstone Belt, which has produced more than 70,000 ounces of gold.

Despite the tenements being close to a mining centre within a major gold mining province, little modern systematic work or drilling has been completed.

Exploration potential

The wider Murchison Province hosts many significant gold deposits including million-ounce camps at Big Bell, Mount Magnet (Hill 50) and Meekatharra as well as camps at Cue, Mount Gibson and Kirkalocka.

In addition to gold, the geological potential of the Paynes Find area includes the possibility for volcanogenic massive sulphide mineralisation similar to the Golden Grove deposits to the west in the Yalgoo Greenstone Belt.

Targets identified

Geological work conducted by Oakajee contractors has identified three advanced targets including Matriarch Gold Workings, Paynes Find South and North Structural Target based on past exploration.

These targets will be the focus of initial work.

Cervantes supports the view that the historical mineralisation in the area could be an indicator of a bigger gold system associated with sheared mafic amphibolites intruded by a porphyry.

Primrose drilling program

The company completed an aircore drilling program in 2018 along 8-kilometres of the Primrose Shear running through the Paynes Find project area targeting deeper gold and nickel prospective areas.

Targets have been selected due to elevated gold and nickel assays above normally expected results for a first-pass drilling program.

Approvals have been received to proceed with further drilling, but the company is awaiting assays from a second round of drilling at its Albury Heath project near Meekatharra before committing to the program.

Cervantes will also seek discussions with Oakajee to develop the combined area and share geological data for the benefit of stakeholders.

READ: Cervantes Corporation starts drilling program at main WA projects

Along with its Primose project, Cervantes is also exploring the Albury Heath project where it hit bonanza grade gold of 202.8 g/t last year.

 

The drilling at Albury Heath and upcoming drilling at Primrose form part of a wider corporate strategy to pursue “fast wins” at low sovereign risks projects in WA.

- Jessica Cummins

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Tue, 22 Jan 2019 23:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213118/cervantes-corporation-welcomes-oakajee-as-paynes-find-neighbours-213118.html
<![CDATA[Media files - Cervantes Corporation chairman outlines gold road map for 2019 ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11742/cervantes-corporation-chairman-outlines-gold-road-map-for-2019-11742.html Wed, 09 Jan 2019 14:31:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11742/cervantes-corporation-chairman-outlines-gold-road-map-for-2019-11742.html <![CDATA[News - Cervantes Corporation drills seven holes into bonanza gold prospect ]]> https://www.proactiveinvestors.com.au/companies/news/212002/cervantes-corporation-drills-seven-holes-into-bonanza-gold-prospect-212002.html Cervantes Corporation Ltd (ASX:CVS) has completed drilling seven reverse circulation (RC) holes into the Albury Heath Prospect within the Albury Heath Project in Western Australia.

Drilling focused on testing the extent of previously discovered bonanza gold in two intersections – 2 metres at 67.2 g/t gold from 27 metres and 5 metres at 63.1 g/t from 32 metres.

Grades within these two intersections reached as high as 1 metre at 202.8 g/t gold.

Assay results from the RC drilling are pending while preliminary results confirmed quartz lodes up to 26 metres downhole width were intersected.

READ: Cervantes Corporation minority owner increases shareholding to 10.93%

Cervantes is also in the process of raising up to $700,000 by issuing 70 million shares priced at 1 cent and a free attaching option exercisable at 1.5 cents with every 2 shares subscribed for.

The prospectus offering will close on or before 18 January 2019.

Cervantes said it hopes to receive the drill results from this completed campaign before this closing date.

Funds raised will be used to pursue the RAB drilling of five new potential areas, not previously tested, and for follow-up drilling of the current RC drilling program.

Cervantes also intends to pursue a deep drilling program on the Primrose Project at Paynes Find targeting gold, nickel and cobalt.

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Mon, 07 Jan 2019 11:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212002/cervantes-corporation-drills-seven-holes-into-bonanza-gold-prospect-212002.html
<![CDATA[News - Cervantes Corporation minority owner increases shareholding to 10.93% ]]> https://www.proactiveinvestors.com.au/companies/news/211447/cervantes-corporation-minority-owner-increases-shareholding-to-1093-211447.html Cervantes Corporation Ltd (ASX:CVS) substantial holder New York Holdings Pty Ltd has increased its holding by 7.77 million shares in off-market purchase and transfers.

The increase in holding amounted to $38,850 and leaves New York Holdings with 54.07 million fully paid ordinary shares or a 10.93% interest in Cervantes.

 

Cervantes recently completed a follow-up reverse circulation drilling program at its Albury Heath project in Meekatharra, Western Australia.

The seven-hole, 440-metre drilling campaign followed up on bonanza-grade gold intersected earlier in the year.

Bonanza-grade intersections included 2 metres at 67.2 g/t gold from 27 metres and 5 metres at 63.1 g/t from 32 metres.

Cervantes’ new drill holes have tested the down-dip, u-dup and along-strike continuity of these zones to further plan a more comprehensive drilling program in 2019.

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Tue, 18 Dec 2018 21:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211447/cervantes-corporation-minority-owner-increases-shareholding-to-1093-211447.html
<![CDATA[News - Cervantes Corporation concludes follow-up drilling of past bonanza grade gold hits ]]> https://www.proactiveinvestors.com.au/companies/news/210440/cervantes-corporation-concludes-follow-up-drilling-of-past-bonanza-grade-gold-hits-210440.html Cervantes Corporation Ltd (ASX:CVS) has completed a follow up reverse circulation (RC) drilling program at the Albury Heath Project in Meekatharra, Western Australia.

A short, seven-hole 440 metre drilling campaign has been completed to follow-up on the bonanza grade gold intersected earlier this year.

READ: Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath

The bonanza-grade intersections included 2 metres at 67.2 g/t from 27 metres and 5 metres at 63.1 g/t gold from 32 metres.

Cervantes’ new drill holes have tested the down dip, up dip and along strike continuity of these zones to further plan a more comprehensive drilling program in early 2019.

Whilst the original plan was to incorporate the RAB (rotary air blast) drilling of some 4-5 other targets within the project area, the mines department approvals for the RAB were not obtained in time, and Cervantes accepted an offer from a drilling contractor in the area to complete just the RC drilling for a small premium for mobilisation.

The company is expected to receive the results from this drilling after the New Year.

 

The approvals from the mines department for Cervantes’ flagship Primrose Project drilling campaign in Payne’s Find were also delayed, and only recently received, but not in time to activate any drilling programs.

Cervantes will assess all outstanding results from the current Albury Heath program, the approved RAB drilling program for Albury Heath, the RC drilling at Primrose, and will plan the timing of the new programs for the 2019 season.

Meanwhile, the closing date for a $700,000 capital raising has been extended to December 28, 2018.

READ: Cervantes Corporation extends closing date for $700,000 capital raising ]]>
Tue, 04 Dec 2018 15:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210440/cervantes-corporation-concludes-follow-up-drilling-of-past-bonanza-grade-gold-hits-210440.html
<![CDATA[Media files - Cervantes Corp plans further drilling at Albury Heath and Primrose early next year ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11416/cervantes-corp-plans-further-drilling-at-albury-heath-and-primrose-early-next-year-11416.html Tue, 04 Dec 2018 14:03:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11416/cervantes-corp-plans-further-drilling-at-albury-heath-and-primrose-early-next-year-11416.html <![CDATA[News - Cervantes Corporation extends closing date for $700,000 capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/210179/cervantes-corporation-extends-closing-date-for-700000-capital-raising-210179.html Cervantes Corporation Ltd (ASX:CVS) has extended the closing date for its capital raising of $700,000 by way of prospectus by one month.

The closing date for the capital raising has been extended to December 28, 2018, from the proposed date of November 30.

READ: Cervantes outlines capital raising to drill gold projects

A prospectus details the raising of the funds by the issue of up to 70 million shares priced at 1 cent each.

In addition, eligible applicants will receive one free attaching option exercisable at 1.5 cents expiring June 30, 2020, for every two shares they are issued.

Funds will be primarily used for drilling of Cervantes’ Albury Heath and Primrose projects in Western Australia.

High-grade drill results of 2 metres at 67.2 g/t from 27 metres and 5 metres at 63.1 g/t from 32 metres were delivered from Albury Heath, near Meekatharra in the state’s Mid-West, earlier in the year.

READ: Cervantes Corporation starts drilling program at main WA projects

A follow-up drilling program started this week following finalisation of a drilling tender process.

Follow-up drilling is also planned at the Primrose project in Payne’s Find Goldfield after the Albury Heath drilling.

This will be based on a successful aircore drilling program and RAB drilling program in 2017, which produced elevated gold and nickel-cobalt-copper results.

These programs form part of a wider corporate strategy to pursue “fast wins” at low-sovereign-risk projects in WA.

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Thu, 29 Nov 2018 15:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210179/cervantes-corporation-extends-closing-date-for-700000-capital-raising-210179.html
<![CDATA[News - Cervantes Corporation starts drilling program at main WA projects ]]> https://www.proactiveinvestors.com.au/companies/news/209880/cervantes-corporation-starts-drilling-program-at-main-wa-projects-209880.html Cervantes Corporation Limited (ASX:CVS) has started a drill campaign at its Albury Heath Gold Project near Meekatharra in Western Australia as it raises funds for drilling and plans further exploration at its flagship Primrose multi-metallic project.

Cervantes has previously encountered bonanza-grade gold at Albury Heath, a project found near established infrastructure in the Mid West-Murchison region town of Meekatharra.

The drilling at Albury Heath and upcoming deep drilling at Primrose form part of a wider corporate strategy to pursue “fast wins” at low-sovereign-risk projects, in WA.

WATCH: Cervantes touts location advantage amongst gold plays

Cervantes executive chairman Collin Vost spoke to Proactive Investors today and said the spring-and-summer drilling program launched this week was following up the company’s drilling earlier this year.

Vost said, “We wanted to follow-up our previously very-high-grade bonanza hits that we had put in our previous drilling program.”

 

A drilling contractor is in the area and started reverse circulation (RC) drilling work at the project this week.

The company is waiting on a rotary air blast (RAB) drilling permit from the Western Australian Department of Mines and expects to start that side of the latest campaign early next year.

Vost said, “We want to do RAB drilling of at least four, five other interesting targets around the area within our permits.”

READ: Cervantes outlines capital raising to drill gold projects

The project covers 10.8 square kilometres and includes the historical Albury Heath mine and its surround — with the exploration allowed under six prospecting licences P51/2937 and P51/2997-3001.

Highlighted intersections returned in the May-July 2018 period were: 2 metres grading 67.2 g/t from 27 metres, including 1 metre at 129.3 g/t from 27m; and 5 metres grading 63.1 g/t from 32 metres, including 1 metre at 202.8 g/t from 33 metres.

The Western Australian project is just 20-25 kilometres from two mills that Cervantes has reported it has signed confidentiality agreements with.

The project’s good location near mills and town infrastructure means it could avoid some of the costs incurred at fly-in, fly-out mine sites where workers need to be housed in specially-built mine camps.

READ: Cervantes Corporation directors complete field visit to Primrose Project

Cervantes chairman Vost said the company expected Albury Heath could be an “early cash” opportunity, either through development and processing through the mills, or a sale to another party such as a mill operator.

The chairman noted the company was undertaking a small $700,000 capital raising to fund drilling at Albury Heath and Primose.

Cervantes sent two directors out to its Primrose Pit project on the edge of the 8-kilometre long Primrose Fault in September 2018, to undertake a field visit at the project it acquired in July 2018.

The field where it is located, Paynes Find Goldfield, is named after its previous explorer Paynes Find Gold Ltd (ASX:PNE).

Primrose project and the Paynes Find pit in Western Australia

Vost told Proactive the company was aiming to follow up Paynes’ past efforts, “The previous explorer did a lot of shallow drilling in the area and some mobile metal ions (MMI) soil testing.

“We had a lot of old reports that we worked on from CSA and others.

“We also did an aircore drilling program over three areas that had not previously been drilled along the Primrose Fault, which is an 8-kilometre shear zone.

“We got elevated gold grades, nickel and cobalt grades all along the areas that we drilled, so we have now planned a deeper drilling program to be drilled over those areas, hopefully as soon as we get Mines Department approval for the drilling programs.”

The company, therefore, expects those stages of the drilling program will not take place until the new year.

Vost said, “The deep drilling and the Albury Heath RAB drilling will all be done as soon as possible in the new year.”

BIG PICTURE: Cervantes Corporation pursues strategy for near-term, cheap gold production

When asked which project was the company’s lead project, Vost indicated it was likely Primrose.

Vost said, “The Primrose project is the flagship, in as much as that’s got the potential for a lot more ounces and tonnages than the other projects.”

The chairman acknowledged the Cervantes’ Pansy Pit project was another project in the company’s portfolio but indicated it was essentially part of Primrose shear zone.

Vost said, “The Pansy Pit is really just a previous historical little mine that hangs off the end of the Primrose Fault, so it’s all part of the Primrose project.”

 

The company argued in August 2018 there was sufficient gold mineralisation remaining at the pit to extract at low cost with a heap-leach operation, given its position in the oxide zone and shallow depth.

Vost said, “The second project, the Albury Heath, we believe could very well be subject to further extensive drilling further beyond the resources that are already there and be available for processing in one of the local two mills that are only within 20-25 kilometres of the pit or may very well be sold if necessary to either of those mills.

“With a bit of luck and more drilling, Albury Heath could be an early cash earner.”

WATCH: Cervantes looking for fast turnaround gold projects in established mining regions

Vost highlighted a core strength of the company’s projects — they are in a mining state of very low sovereign risk, near infrastructure.

“In Australia, and particularly, in Western Australia, the mining sovereign risk is minimal and everything is fairly available.

“Both our projects, the Meekatharra project with Albury’s Heath and our Abbots project, are all very close to Meekatharra township.”

Vost believes the location of Albury Heath project bodes well for its economics.

Primrose project holds similar appeal.

Vost said, “The advantage of the Primrose project is in a little town called Paynes Find.

“That’s only 4.5 hours out of Perth on a bitumen road. It has got an existing roadhouse alongside it, an earthmoving contractor alongside it.

“The roadhouse has accommodation, and fuel and all other facilities.

“That means as we develop it, we don’t need accommodation, we don’t need to develop canteens or fly-in, fly-out facilities for the workers and it means that we have an earthmoving contractor right alongside which means we can utilise all of those services.”

Cervantes will hold its annual general meeting this Friday, November 30 at Royal Perth Golf Club in South Perth at 2.30pm.

Subscriptions to Cervantes’ capital raising are pencilled in to close this Friday, November 30.

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Mon, 26 Nov 2018 01:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209880/cervantes-corporation-starts-drilling-program-at-main-wa-projects-209880.html
<![CDATA[Media files - Cervantes touts location advantage amongst gold plays ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11037/cervantes-touts-location-advantage-amongst-gold-plays-11037.html Tue, 30 Oct 2018 16:17:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11037/cervantes-touts-location-advantage-amongst-gold-plays-11037.html <![CDATA[News - Cervantes outlines capital raising to drill gold projects ]]> https://www.proactiveinvestors.com.au/companies/news/207791/cervantes-outlines-capital-raising-to-drill-gold-projects-207791.html Cervantes Corporation Ltd (ASX:CVS) has released a prospectus detailing a capital raising of up to $700,000 through the issue of up to 70 million shares priced at 1 cent each.

Subject to shareholder approval, eligible applicants will receive one free attaching option exercisable at 1.5 cents expiring 30 June 2020 for every two shares they are issued.

Funds will be primarily used for the imminent drilling of both the Albury Heath Project and Primrose Project in Western Australia.

READ: Cervantes Corporation pursues strategy for near-term, cheap gold production

Albury Heath near Meekatharra delivered high-grade drill results of 2 metres at 67.2 g/t from 27 metres and 5 metres at 63.1 g/t from 32 metres earlier this year.

Follow-up drilling is planned to commence immediately upon finalisation of the drilling tender process currently underway.

READ: Cervantes Corporation directors complete field visit to Primrose Project

The Primrose project in Payne’s Find Goldfield will also receive a follow-up drilling program based on the successful air core drilling program, and the RAB drilling program in 2017.

This drilling produced elevated gold and nickel-cobalt-copper results as released in mid-June 2018.

Cervantes expects this program to follow on from the Albury Heath drilling program.

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Thu, 25 Oct 2018 08:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207791/cervantes-outlines-capital-raising-to-drill-gold-projects-207791.html
<![CDATA[News - Cervantes Corporation substantial shareholders lift stake to 10.5% ]]> https://www.proactiveinvestors.com.au/companies/news/207437/cervantes-corporation-substantial-shareholders-lift-stake-to-105-207437.html Cervantes Corporation Limited (ASX:CVS) substantial shareholders Nuzeno Holdings Pty Ltd and Acxu Smsf Pty Ltd have lifted their combined stake in the company.

They now hold 10.5% of Cervantes, up from 9.08%, as outlined in a notice of change of interests of substantial holder.

The new shares were purchased in a series of transaction from April 2018 to September 2018.

READ: Cervantes Corporation pursues strategy for near-term, cheap gold production

Cervantes is continuing to pursue “fast wins” in the gold sector as it focuses on projects with the potential for cheap, near-term production.

The South Perth-based company holds a number of gold projects in its West Australian portfolio.

Cervantes recently intercepted shallow high-grade gold mineralisation within the historical Pansy Pit at Primrose Gold Project south of Meekatharra.

The company is also excited by the potential of its Albury Heath project in the Meekatharra area.

Cervantes managing director Marcus Flis recently said the company had been accumulating a portfolio of gold projects on Australia’s west coast.

He added: “The focus of that accumulation has been looking at near-term and cheap gold production.

“We’ve gone to a number of different areas in the Eastern Goldfields and in the Yilgarn of WA, looking for projects that fit the criteria of both fast wins, easily got ounces and hopefully near-term production.”

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Fri, 19 Oct 2018 15:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207437/cervantes-corporation-substantial-shareholders-lift-stake-to-105-207437.html
<![CDATA[News - Cervantes Corporation directors complete field visit to Primrose Project ]]> https://www.proactiveinvestors.com.au/companies/news/204481/cervantes-corporation-directors-complete-field-visit-to-primrose-project-204481.html Cervantes Corporation Ltd (ASX:CVS) has sent two directors to complete a field visit at its Primrose Project within the Paynes Find Goldfield in Western Australia.

The visit was a prelude to finalising the exploration targets for the next drilling campaign, for which planning is underway to test for gold mineralisation.

Notably, structural observations made support Cervantes’ model for a large tonnage gold target.

READ: Cervantes Corporation pursues strategy for near-term, cheap gold production

The aim of the field inspection was to better understand the results of drilling by the previous explorer, Paynes Find Gold Ltd (PNE).

The historical workings in the project area were based on outcropping or subcropping, quartz-vein related gold mineralisation.

Prior drilling has not tested Cervantes’ thesis

Observations made on the visit support Cervantes views that a structural interpretation previously undertaken by consultants has never been tested by adequate drilling.

Cervantes intends to test the deeper parts of the west dipping Primrose Shear in a number of locations.

Drilling to target other prospects

Additional drilling is being planned to test the elevated nickel-cobalt and gold areas in the southern permits.

Furthermore, a second round of deeper drilling is also being considered for the Pansy Pit target within the Primrose Project.

Planning is well underway for a drilling program to test regional targets on the Albury Heath Project also in Western Australia.

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Mon, 10 Sep 2018 13:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204481/cervantes-corporation-directors-complete-field-visit-to-primrose-project-204481.html
<![CDATA[News - Cervantes Corporation pursues strategy for near-term, cheap gold production ]]> https://www.proactiveinvestors.com.au/companies/news/202708/cervantes-corporation-pursues-strategy-for-near-term-cheap-gold-production-202708.html Cervantes Corporation Limited (ASX:CVS) has exited a minerals sands project and is continuing to pursue “fast wins” in the gold sector as it focuses on projects with the potential for cheap, near-term production.

The South Perth-based company holds a number of gold projects in its West Australian portfolio.

Cervantes revealed last week it had intercepted shallow high-grade gold mineralisation within the historical Pansy Pit at Primrose Gold Project south of Meekatharra.

READ: Cervantes Corporation’s Pansy Pit in WA may have more gold to give

The company said the gold mineralisation remaining in Pansy Pit may be amenable to low-cost extraction, given its position in the oxide zone and shallow depth.

It believes the area could be suited to a heap leach operation.

Highlighted assays include: 2 metres grading 6.32 g/t gold from 11 metres; 1 metre grading 5.83 g/t from 11 metres; 1 metre grading 6.31 g/t from 13 metres; and 2 metres grading 9.14 g/t from 15 metres.

READ: Cervantes Corporation focused on gold projects after discussions with Baraka

The company also revealed last week it had renegotiated an interest-free 12-month loan with Baraka Energy & Resources Ltd (ASX:BKP) to two years and tipped it would repay the amount early due to recent exploration success at its Albury Heath project in the Meekatharra area of WA’s Mid West-Murchison region.

In exchange for the $900,000 loan’s term, Cervantes waived its fees and rights to the companies’ iron sands venture which Baraka plans to offer up to prospective buyers.

Corporate strategy

Managing director and exploration projects head Marcus Flis told Proactive Investors Australia’s video channel Stocktube the Western Australian company had been accumulating a portfolio of gold projects on Australia’s west coast.

Flis said: “The focus of that accumulation has been looking at near-term and cheap gold production.

“We’ve gone to a number of different areas in the eastern Goldfields and in the Yilgarn of WA, looking for projects that fit the criteria of both fast wins, easily got ounces and hopefully near-term production projects that will give our shareholders in investing in Cervantes.

 

“It is a nascent company, it’s up and coming, so there’s a real hunger there for instant success or at least near-term success to prove our credentials on the market.”

The company reported bonanza-grade gold intersections from its wholly-owned Albury Heath project in Western Australia in June and reported further success at the Meekatharra project last month.

The Murchison region project features Domain gold mineralisation and associated with the Meekatharra Structural Zone, a northeast trending shear about 50 kilometres wide.

READ: Cervantes Corporation intersects high-grade gold at Albury Heath Project

Also known as the Albury Heath Gold Mine prospecting licence, the project has potential to be fast-tracked for leach or toll treating.

Highlight assays from the project include: 7 metres grading 18.8 g/t gold from 77 metres, including 4 metres at 52.3 g/t from 86 metres; 2 metres grading 7 g/t from 9 metres, including 1 metre at 13.3 g/t from 10 metres; 2 metres grading 3.2 g/t from 29 metres; and 1 metre grading 14.1 g/t from 58 metres.

Flip or build

Flis told Stocktube Cervantes’ corporate strategy was to examine opportunities and evaluate projects that could be developed in their own right with the company as a miner but it was aware it could reduce risk by outsourcing projects.

He said: “If necessary we can monetise some of those projects and sell them off and move to other areas.

“Right now there’s no one in particular process that we’re following, we’re looking at what will maximise value for investors the most and if that means turning over projects quickly then that’s what we’ll do.

“But if we see great potential in a project we will develop that as far as we can with the aim of either monetising it at a later stage or preferably going into production if the numbers stack up.

“We’re not committed to any one particular outcome in terms of mining, we’re committed to seeing value increase, and that’s the underlying driver for the company.”

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Sun, 12 Aug 2018 23:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202708/cervantes-corporation-pursues-strategy-for-near-term-cheap-gold-production-202708.html
<![CDATA[News - Cervantes Corporation focused on gold projects after discussions with Baraka ]]> https://www.proactiveinvestors.com.au/companies/news/202628/cervantes-corporation-focused-on-gold-projects-after-discussions-with-baraka-202628.html Cervantes Corporation Ltd (ASX:CVS) believes the recent exploration success at its Albury Heath gold project will help it repay a two year $900,000 interest-free loan early.

Recent results from the project near Meekathara included 2 metres at 67.2 g/t gold from 27 metres including 1-metre at 129.3 g/t gold, and 5 metres at 63.1 g/t gold from 32 metres including 1 metre at 202.8 g/t gold.

READ: Cervantes Corporation’s Pansy Pit in WA may have more gold to give

Cervantes has recently conducted a joint meeting with Baraka Energy & Resources Ltd (ASX:BKP) regarding an iron sands venture.

Discussions resulted in an agreement to resolve the fees and rights that Cervantes had over the iron sands venture.

This is to enable Baraka to pursue buyers, representing Chinese Steel mills, Dredging firms, other companies in the Iron Sands industry, or wealthy Philippines or Chinese investors.

Previous loan agreement amended

The previous loan agreement to Cervantes has now been amended in return for waiving all fees and rights.

The new loan agreement is $900,000 repayable over two years interest-free, amended from one year to two years on a best of endeavours basis.

Cervantes expects to repay this loan earlier as a result of exceptional drill results from Albury Heath.

Albury Heath is one of three strategic gold projects

Notably, Albury Heath is only one of three strategic gold projects wholly-owned by Cervantes.

Most recently, Cervantes received assay results showing shallow gold mineralisation within the historical Pansy Pit within the Primrose Project located in Western Australia.

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Fri, 10 Aug 2018 09:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202628/cervantes-corporation-focused-on-gold-projects-after-discussions-with-baraka-202628.html
<![CDATA[News - Cervantes Corporation’s Pansy Pit in WA may have more gold to give ]]> https://www.proactiveinvestors.com.au/companies/news/202453/cervantes-corporations-pansy-pit-in-wa-may-have-more-gold-to-give-202453.html Cervantes Corporation Ltd (ASX:CVS) has intercepted shallow high-grade gold mineralisation in the historical Pansy Pit at its Primrose Gold Project in Western Australia.

The reverse circulation (RC) drilling results indicate the mineralisation is much more pervasive than indicated in previous drilling and not restricted to quartz veins.

Eleven RC holes were completed for 336 metres, but the campaign was curtailed due to inaccessibility near the pit walls.

Gold mineralisation remaining in the Pansy Pit may be amenable to low-cost extraction given its shallowness and position in the oxide zone.

 

Drilling was designed to test previously identified extensions up-dip, down-dip and along strike, as well as providing fresh core for metallurgical and geotechnical testing.

Highlighted assays include: 2 metres at 6.32 g/t gold from 11 metres; 1 metre at 5.83 g/t from 11 metres; 1 metre at 6.31 g/t from 13 metres; and 2 metres at 9.14 g/t from 15 metres.

Historical drilling at the Pansy Pit intersected up to 8 metres at 7.08 g/t gold.

Further drilling is required to confidently identify specific quartz lodes across the prospect’s sections.

  Potential heap leach operation

Intercepts recently returned indicate mineralisation occurring in pyritic quartz lodes, within sheared mafic as well as in unsheared, massive mafic with no noted quartz content.

These observations demonstrate that historical drilling only sampled obvious quartz veins and there exists substantial gold mineralisation in the host rocks, giving the area a higher potential than initially thought.

Cervantes believes the area may be suitable for a heap leach operation that would access bulk tonnage, rather than the narrow veins previously considered.

The company has received persistent enquiries from mills in the district needing additional ore for their process operations but remains open to a stand-alone mill for the project.

READ: Cervantes Corporation intersects high-grade gold at Albury Heath Project

Cervantes plans to conduct a fuller assessment of all drilling results to better understand the controls on gold mineralisation.

As historical hole collars no longer exist, the company may redrill those holes to better test the area in light of conclusions drawn from recent drilling.

A wider regional assessment of Pansy’s mineralisation will also be undertaken, due to gold anomalism seen in aircore drilling to the southeast of the pit.

Following a review of all completed drill programs, Cervantes will prepare new drilling campaigns, budgets and submit work programs.

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Wed, 08 Aug 2018 03:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202453/cervantes-corporations-pansy-pit-in-wa-may-have-more-gold-to-give-202453.html
<![CDATA[News - Cervantes Corporation intersects high-grade gold at Albury Heath project ]]> https://www.proactiveinvestors.com.au/companies/news/200921/cervantes-corporation-intersects-high-grade-gold-at-albury-heath-project-200921.html Cervantes Corporation Ltd (ASX:CVS) has hit significant gold intersections in a drilling program at its Albury Heath Gold Project in Western Australia.

There were 29 reverse circulation holes completed for 1,866 metres, with drilling intersecting quartz lode mineralisation at higher grades than that seen in historical drilling.

 

Highlighted assays include: 17 metres at 18.8 g/t gold from 77 metres, including 4 metres at 52.3 g/t from 86 metres; 2 metres at 7 g/t from 9 metres, including 1 metre at 13.3 g/t from 10 metres; 2 metres at 3.2 g/t from 29 metres; and 1 metre at 14.1 g/t from 58 metres.

The drilling tested the down dip extension of the main known lode, defined near-surface mineralisation and sampled zones around the existing open stopes.

The Albury Heath resource is typical of Murchison Domain gold mineralisation and closely associated with the Meekatharra Structural Zone, a northeast trending shear around 50 kilometres wide.

Room for resource expansion

The results of the campaign will be used to determine if the Albury Heath resource is sufficiently defined to pursue early toll treatment opportunities.

Initial indications suggest room for expansion of the resource, particularly at shallow depths, which would positively affect the economics of an open pit operation.

READ: Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath

Cervantes will conduct a regional assessment of its tenements using results from the program as well as evaluating all historical work done over the company’s holdings.

The Albury Heath project is centred on the historical Albury Heath gold mine, which produced 2,204 ounces of gold at an average head grade of 47.8 g/t from underground workings between 1948 and 1957.

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Tue, 17 Jul 2018 03:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200921/cervantes-corporation-intersects-high-grade-gold-at-albury-heath-project-200921.html
<![CDATA[Media files - Cervantes looking for fast turnaround gold projects in established mining regions ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9856/cervantes-looking-for-fast-turnaround-gold-projects-in-established-mining-regions-9856.html Mon, 16 Jul 2018 16:48:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9856/cervantes-looking-for-fast-turnaround-gold-projects-in-established-mining-regions-9856.html <![CDATA[News - Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath ]]> https://www.proactiveinvestors.com.au/companies/news/199743/cervantes-corporation-surges-143-on-bonanza-grade-gold-results-from-albury-heath-199743.html Cervantes Corporation Limited (ASX:CVS) surged 143% in early trade after receiving a number of bonanza-grade gold intersections from the Albury Heath project in Western Australia.

The first batch of assays from a recent reverse circulation drilling campaign returned results of up to 202.8 g/t, 129.3 g/t and 49 g/t gold with many other high-grade intersections.

Leading ASX gainer

Cervantes is a leading ASX gainer with shares up to 1.7 cents, equal to its 12-month high.

There were 29 RC holes drilled for 1,866 metres and the aim was to test the down-dip potential of known lodes where mineralisation is open and shows no sign of abating at depth.

Up-dip potential also tested

It also tested the up-dip potential as near-surface mineralisation has been inadequately sampled in past drilling.

Drilling sampled the potentially mineralised footwall to historical underground stopes, which were also inadequately sampled.

This drilling indicated that the stopes have an envelope of mineralisation on the hanging wall and also, where tested, on the footwall.

High grades

Best results are:

- 2 metres at 67.2 g/t from 27 metres, including 1 metres at 129.3 g/t; - 4 metres at 9.1 g/t from 19 metres, including 2 metres at 16.5 g/t; - 4 metres at 5.8 g/t from 45 metres, including 1 metre at 19 g/t; - 5 metres at 63.1 g/t from 32 metres, including 1 metre at 202.8 g/t; and - 8 metres at 23.1 g/t from 87 metres, including 2 metres at 49.0 g/t.

Cervantes said these were pleasing results in that previous drilling indicated some of the areas previously drilled were devoid of any significant gold grades.

Possible resource extensions

The current drilling has possibly extended the resource of those areas with final assays expected within the next two weeks.

An interpretation of the drilling can then be made and a model synthesised.

A decision will then be made on whether to recalculate the resource model for Albury Heath and what additional work may be needed to further define that resource.

Near other gold plants

The Albury Heath resource occurs within relatively easy trucking distance of a number of existing operating and mothballed gold plants.

Continued development of this project may provide early cash flow for Cervantes if the ore is toll treated, while Cervantes considers acquisition of, or working with other PL holders in the area.

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Thu, 28 Jun 2018 15:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199743/cervantes-corporation-surges-143-on-bonanza-grade-gold-results-from-albury-heath-199743.html
<![CDATA[News - Cervantes Corporation to respond to ASX query ]]> https://www.proactiveinvestors.com.au/companies/news/176338/cervantes-corporation-to-respond-to-asx-query-176338.html Cervantes Corporation (ASX:CVS) has been granted a trading halt by the ASX, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Tuesday 18th April 2017, or earlier if an announcement is made to the market.

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Wed, 12 Apr 2017 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176338/cervantes-corporation-to-respond-to-asx-query-176338.html
<![CDATA[News - Cervantes Corporation adds oil/gas upside with Baraka Petroleum deal ]]> https://www.proactiveinvestors.com.au/companies/news/134292/cervantes-corporation-adds-oilgas-upside-with-baraka-petroleum-deal-1179.html Cervantes Corporation Ltd (ASX:CVS) and Baraka Petroleum Ltd (ASX:BKP) have entered into an agreement for the benefit of Cervantes and Baraka shareholders.

The agreement is for Cervantes to provide financial assistance to Baraka to allow it to proceed towards the recapitalisation of Baraka and to achieve the re-quotation of Baraka’s ordinary shares at the earliest opportunity.

The Cervantes board has previously outlined that they would continue to seek opportunities to add value to the shares of Cervantes investors and where possible, offer them opportunities to participate in new ventures directly.

This opportunity is in the opinion of the Board one such opportunity.

This agreement offers an attractive opportunity for Cervantes by offering an extremely low entry point to an existing listed company involved in the Oil, Gas and Energy related sectors, which could offer substantial upside to Cervantes and Baraka shareholders as the global economy recovers.

The agreement entered into provides Cervantes shareholders, at the time of allocation of Baraka’s new shares, priority rights to take up a proposed new issue of shares in Baraka Petroleum at a minimum price of 0.2 cents per share.

Zurich Securities Pty Ltd has been appointed by Baraka to lead manage the placement of the new shares. Following approval by Baraka shareholders of the agreement and other resolutions, a prospectus for the issue of the new shares will be made available to shareholders of Cervantes and Baraka and others who register an interest.

It is anticipated that on completion of raising the minimum funds required by the ASX for Baraka to be reinstated to official quotation, Baraka and Cervantes will be debt free, cashed up listed companies jointly seeking opportunities for their shareholders in their respective sectors.

Gold Project

Cervantes has been, via the 100% owned subsidiary Cervantes Gold Pty Ltd, financing a drilling, assaying, metallurgical and comminution study of a gold retreatment project on areas controlled by a private entity, over which Cervantes also has an agreement.

The results to date have all been favourable and the costs have been reduced from the initial cash flow projections. The Cervantes Board anticipate an increase in Cervantes cash position, subject to changing factors, greater than originally anticipated.

It is anticipated that, subject to formal agreements being amended and completed and final cash flow documentation being presented, the Board of Cervantes will be in a position to confirm commencement of the retreatment operations by the private entity within weeks and cash flow within 4-5 months.

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Tue, 07 Apr 2009 09:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/134292/cervantes-corporation-adds-oilgas-upside-with-baraka-petroleum-deal-1179.html