Proactiveinvestors Australia Diatreme Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Diatreme Resources Ltd RSS feed en Sun, 16 Jun 2019 20:46:39 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Diatreme Resources confirms Galalar's potential to become source of premium silica ]]> https://www.proactiveinvestors.com.au/companies/news/214142/diatreme-resources-confirms-galalar-s-potential-to-become-source-of-premium-silica-214142.html Diatreme Resources Limited (ASX:DRX) has received new test results from its Galalar Silica Project, confirming the potential to become a source of premium-grade silica for growing Asian markets.

Recent testing showed the project can meet the exacting specifications of high-end manufacturers and processors, including grain size being in a 30–120 mesh size range and iron content below 100ppm.

This low iron level is in high demand by manufacturers with limited available producers of significant volumes.

99% silica grade

The average down-hole grade was 99% silica with iron and titanium minerals exceptionally low, averaging 0.1%.

Excellent recovery rates were obtained for the final product of around 79% from raw sand feed and showed the potential to obtain secondary, high-value heavy mineral sands (HMS) by-product streams during mining, adding to the project's value.

New data adds confidence

Diatreme CEO Neil McIntyre said: “This new data further adds to our confidence in Galalar’s potential to become a source of valuable premium-grade silica.

“We look forward to progressing this further, working closely with our partners and traditional owners, Hopevale Congress and other stakeholders to ensure maximum benefits for the local community.”

The new results will be used to undertake a reassessment of the project's inferred resource by independent firm Ausrocks, which will be completed later this month.

Drilling program design

The drilling program was conducted within the existing defined silica resource boundary and was designed to:

Increase the resource footprint and size with additional drilling to the southeast and northeast;

 Decrease the sample interval size to 1 metre downhole to better define the geological context;

Increase drill density to 50 x 100-metre spacing;

Measure in-situ moisture to better quantify variation in moisture downhole variation; and

Provide additional samples for additional bulk sample test work

- Jessica Cummins

 

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Thu, 07 Feb 2019 00:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214142/diatreme-resources-confirms-galalar-s-potential-to-become-source-of-premium-silica-214142.html
<![CDATA[News - Diatreme Resources reveals premium‐grade potential of Galalar Silica Project ]]> https://www.proactiveinvestors.com.au/companies/news/212203/diatreme-resources-reveals-premiumgrade-potential-of-galalar-silica-project-212203.html Diatreme Resources Ltd (ASX:DRX) has revealed positive results from specialist bulk sample testing of raw sand from its Galalar Silica Project in Queensland.

Significantly, the testing has demonstrated the project’s ability to produce a premium‐grade product suitable for high‐tech applications, potentially capable of attracting premium prices.

This follows Diatreme’s earlier announcement of a maiden inferred resource for the project’s Nob Point Prospect, comprising an estimated 21.6 million tonnes at > 99% purity silica.

READ: Diatreme Resources’ maiden mineral resource confirms high-grade silica deposit at Cape Bedford

Diatreme chief executive officer Neil McIntyre said: “These results reconfirm that the project is capable of producing a premium‐grade, low iron and high purity silica sand product, meeting the requirements for high‐end glass manufacturing and capable of attracting premium prices.

“The latest data will be incorporated into the resource definition and mine development planning process currently being undertaken by independent consultants Ausrocks Pty Ltd, with Diatreme targeting an increased Mineral Resource estimate for Galalar during the current quarter.”

Meets high‐end specs

Notably, the testing showed the project is capable of meeting the exacting specifications of high‐end manufacturers/processors, including grain size being within a 30‐120 mesh size range (125‐600 micron) and iron content below 100 ppm.

This low iron level is in high demand by manufacturers as it gives the end product glass the high levels of transparency required for the production of high-efficiency photovoltaic panels, ultra‐clear glass, electrical and electronic grade silicon micro powder and other products.

The Galalar project is in close proximity to fast‐growing Asian markets, with the global silica sand market expected to reach nearly US$10 billion in annual revenues by 2022, with a compound annual average growth rate of 7.2%.

Next steps

Diatreme is engaging with various regulatory and permitting agencies to design and scope the level of studies required and the permitting process, with the aim of generating a realistic project implementation timeline moving forward.

This is being undertaken concurrently with further resource definition work and engagement with potential silica product offtakers to design suitable product specifications, pricing and delivery methodology.

Meanwhile, results from Diatreme’s drilling during the latter part of 2018 are expected later this month.

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Wed, 09 Jan 2019 17:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212203/diatreme-resources-reveals-premiumgrade-potential-of-galalar-silica-project-212203.html
<![CDATA[News - Diatreme Resources advances Cyclone Zircon Project with China talks, DFS near completion ]]> https://www.proactiveinvestors.com.au/companies/news/205013/diatreme-resources-advances-cyclone-zircon-project-with-china-talks-dfs-near-completion-205013.html Diatreme Resources Ltd (ASX:DRX) has progressed its flagship Cyclone Zircon Project in WA’s Eucla Basin following talks in China with potential product buyers and joint venture partners.

The company is on track to complete the project’s definitive feasibility study (DFS) in the third quarter of financial year 2018 and will conduct test work on raw ore to show its heavy concentrate characteristics.

Chinese demand for high-grade zircon has boosted development prospects for Cyclone, amid diminishing high-grade supply and rising global demand.

READ: Diatreme Resources’ maiden mineral resource confirms high-grade silica deposit at Cape Bedford

Diatreme chief executive officer Neil McIntyre said the prospects for the largest undeveloped zircon project in the Eucla Basin had further advanced, as the company continues to work towards eventual mine establishment and production.

He said: “Talks in China with our project partner, China ENFI Engineering, have reaffirmed that Cyclone’s DFS is on track for completion by the end of the third quarter.

“These results are expected to reaffirm the project’s sound economic fundamentals and its potential for near-term development as one of a handful of new high-grade zircon projects globally.”

ENFI has large geological, mining engineering and metallurgical teams as well as significant plant design, procurement and construction capabilities.

Under Diatreme’s agreement with ENFI, the mining services company will use its large network within China’s state-owned enterprise and banking sectors to assist in sourcing project investors, off-takers and project debt funding.

Potential joint venture processing arrangement

McIntyre continued: “We also took the opportunity to further advance discussions with potential Chinese buyers of an export heavy mineral concentrate (HMC), either through a ‘pure’ arm’s length sale or via tolling arrangements.

“In pursuing the best commercial outcome for the project, we have identified a party in China suitable for a potential joint venture processing arrangement.

“This could entail, subject to negotiation, Diatreme participating directly through cross-ownership in the plant operations and participation in the end product price realised for its zircon and titanium products.”

To facilitate this potential arrangement, Diatreme is now processing via an independent lab a further raw ore sample taken from the first two years’ proposed mining path into a heavy mineral concentrate.

This sample will then be forwarded for further testing by the processor in China.

Favourable development environment for zircon projects

Diatreme aims to conclude its arrangements with final HMC product offtake buyers or processing partners following the release of its DFS.

Constrained supply and rising prices for zircon provide a favourable environment for the development of high-grade zircon projects such as Cyclone.

Industry forecaster TZMI expects a structural deficit to widen from 2019, amid an estimated 2.1% compound annual growth rate in demand through to 2021.

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Mon, 17 Sep 2018 04:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205013/diatreme-resources-advances-cyclone-zircon-project-with-china-talks-dfs-near-completion-205013.html
<![CDATA[News - Diatreme Resources’ maiden mineral resource confirms high-grade silica deposit at Cape Bedford ]]> https://www.proactiveinvestors.com.au/companies/news/202710/diatreme-resources-maiden-mineral-resource-confirms-high-grade-silica-deposit-at-cape-bedford-202710.html Diatreme Resources Ltd (ASX:DRX) has completed the maiden inferred mineral resource for the Nob Point prospect at its Cape Bedford Silica/Heavy Minerals Project in North Queensland.

The resource spans an area of around 1 square kilometre and confirms the presence of a world-class, high-grade silica sand deposit.

The company is undertaking commercial and permitting studies, including site logistics, exports and product offtake, to expedite the delivery of a cashflow-generating near-term mining operation.

‘Clear pathway towards development’

Diatreme chief executive officer Neil McIntyre said the results showed potential for an important new silica sand mine that could generate valuable new jobs and investment for far north Queensland.

“These results substantiate our previous exploration efforts and we are determined to advance this project as quickly as possible … to ensure maximum economic benefits for the local community.

“Commercial and permitting studies are rapidly progressing and with the support of (traditional owners) Hope Vale Congress and other stakeholders, we see a clear pathway towards development, capitalising on the project’s access to fast-growing Asian markets.

“Within our commercial scoping study, we will be targeting the potential export of 350-500,000 tonnes per annum of high quality silica sand at a quality specification similar to the nearby Mitsubishi-owned Cape Flattery Silica Mines operation.

“This operation, which our tenement borders, is the world’s largest silica mining operation and is renowned for its premium quality silica product.”

READ: Diatreme Resources reveals potential of its project near the world’s largest silica sands mine

The resource estimate also found open dune extensions to the immediate north and west, highlighting the potential for additional exploration to expand the silica sand deposit.

Modelling showed the deposit average 16.5 metres in thickness, 1,800 metres in length and 600 metres in width.

Bulk sample testing on more than 500 kilograms of product from within the resource area is expected to confirm the high-quality achievable end product grades, with the results expected by mid-August.

The global silica market is predicated to reach revenues of around US$10 billion by 2022, with a compound annual growth rate of 7.2%.

Cape Bedford has several operational advantages, including: its immediate access to a high-quality workforce available on a drive-in basis; access to existing road infrastructure; a potential shipping/export point located within a short distance of the deposit; and strong community support for development.

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Sun, 12 Aug 2018 23:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202710/diatreme-resources-maiden-mineral-resource-confirms-high-grade-silica-deposit-at-cape-bedford-202710.html
<![CDATA[News - Diatreme Resources reveals potential of its project near the world’s largest silica sands mine ]]> https://www.proactiveinvestors.com.au/companies/news/192486/diatreme-resources-reveals-potential-of-its-project-near-the-worlds-largest-silica-sands-mine-192486.html Diatreme Resources Ltd (ASX:DRX) has received initial metallurgical test work results from its Cape Bedford Project in Queensland, confirming the potential for producing glass-grade silica sand.

Diatreme’s project is situated near the world’s largest silica sands mine at Cape Flattery mined by Mitsubishi Corporation, and is favourably positioned to access growing markets for silica sand in Asia.

The silica sand market is expected to reach nearly US$10 billion in revenues by 2022, amid growth from both developed and emerging markets.

Samples meet specifications for glass-grade silica sand

The Cape Bedford project is located circa 200 kilometres north of Cairns and is situated within a large sand dune field, part of which is currently being mined by Mitsubishi Corporation.

During October 2017, 26 holes were drilled along cleared access tracks over a dune complex near Nob Point, for a total of 670 metres.

Subsequently, bulk samples of circa 100 kilograms each from six separate drill holes were submitted for preliminary metallurgical test work.

Significantly, Diatreme achieved 80% recovery of a primary silica sand product ranging from 99.6% to 99.9% silicon dioxide with less than 0.02% iron, easily meeting the specifications for glass-grade silica sand.

Rising demand from the construction and automotive markets

High-grade silica is used in glass manufacture, foundry casting, electronics, ceramics and construction – industries which are growing rapidly in Asia.

As one of the major consumers of high purity silica, the global glass market has recently realised significant growth due to increased demand from the construction and automotive markets.

Based on the results from drilling and initial metallurgical test work, Diatreme has a promising exploration target of 15 to 20 million tonnes of high-quality silica sand for the Nob Point dune area.

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Fri, 02 Mar 2018 15:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192486/diatreme-resources-reveals-potential-of-its-project-near-the-worlds-largest-silica-sands-mine-192486.html
<![CDATA[News - Diatreme Resources to update on gold drilling program in queensland ]]> https://www.proactiveinvestors.com.au/companies/news/153331/diatreme-resources-to-update-on-gold-drilling-program-in-queensland-63861.html Diatreme Resources (ASX:DRX) has been granted an ASX trading halt in relation to results from initial drilling at the Tick Hill Surface Gold Project in Queensland.

Tick Hill was previously one of Australia’s highest grade gold deposits, producing in the 1990s 513,333 ounces of gold at a recovered grade of 22.6 grams per tonne.

In July, the company and partner Superior Resources (ASX:SPQ) started aircore drilling to assess mine tailings and potential alluvial-colluvial gold in areas adjacent to former open-cut pit near Mount Isa.

The halt will last until the earlier of the announcement being made or the start of trade on Monday, 10th August 2015.



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Thu, 06 Aug 2015 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153331/diatreme-resources-to-update-on-gold-drilling-program-in-queensland-63861.html
<![CDATA[News - Diatreme Resources secures $3M funding for Cyclone Zircon Project ]]> https://www.proactiveinvestors.com.au/companies/news/153329/diatreme-resources-secures-3m-funding-for-cyclone-zircon-project-62451.html Diatreme Resources (ASX:DRX) has signed a $3 million convertible note facility with a private Chinese investor to advance its flagship Cyclone Zircon Project in Western Australia’s Eucla Basin.

This is key to advancing the definitive feasibility study for the project, which has a Resource of 211 million tonnes at 2.3% heavy minerals.

The $3 million facility can be drawn in $500,000 tranches over a 12-month period, with first drawdown due for late May 2015.

The notes have an attached coupon interest rate of 5.2% payable by half yearly instalments in arrears on the six month anniversary of each drawdown.

These have a term of 36 months from last note drawdown date, with provision for a further extension of 12 months at the request of the noteholder.

Half of the notes are convertible to ordinary shares at maturity at a fixed price of $0.02, or a 122% premium to its share price at the time of signing the agreement, while the rest will be redeemed at maturity.



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Wed, 20 May 2015 06:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153329/diatreme-resources-secures-3m-funding-for-cyclone-zircon-project-62451.html
<![CDATA[News - Diatreme Resources negotiates a placement ]]> https://www.proactiveinvestors.com.au/companies/news/153327/diatreme-resources-negotiates-a-placement-59329.html Diatreme Resources (ASX:DRX) is currently negotiating a capital raising via a placement, with the ASX granting the company a trading halt.

The company is focussed on the Cyclone Zircon Deposit in Western Australia  through a joint venture arrangement.

Last month the Cyclone Project Mining Lease (ML69/141) granted by Western Australia’s Department of Mines and Petroleum.

The Mining Lease followed signing of Project Agreement with traditional owners, the Spinifex People, as Diatreme pushes forward with de-risking activities.

The halt will remain in place until the opening of trade on Thursday 4th December 2014, or earlier if an announcement is made to the market.

 

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Tue, 02 Dec 2014 11:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153327/diatreme-resources-negotiates-a-placement-59329.html
<![CDATA[News - Diatreme Resources acquiring heavy minerals tenement from Image Resources ]]> https://www.proactiveinvestors.com.au/companies/news/153325/diatreme-resources-acquiring-heavy-minerals-tenement-from-image-resources-58860.html Diatreme Resources (ASX:DRX) has executed a conditional purchase agreement to acquire the Eucla Basin Tenement in Western Australia from Image Resources (ASX:IMA) for $435,000.

The acquisition of the tenement, which includes the Cyclone Extended Heavy Mineral Resource, increases the resource at its flagship Cyclone Zircon Project by 53% to 223 million tonnes at 2.1% heavy minerals, or 4.6Mt of heavy minerals.

In September, project partner Perpetual Mining Holding Limited completed its initial farm-in commitment at Cyclone by investing $2 million to earn a 6% stake in the project.

Diatreme has paid a non-refundable deposit of $20,000 and will pay the remaining $415,000 within 120 days.

The company will carry out a capital raising during this period.

Image will retain a 1% production royalty on all heavy mineral production within the area of the transferred tenement.

Diatreme will have the option to acquire the royalty at an agreed value of $435,000 exercisable by the 1 January 2017.

This acquisition has the potential to extend mine life by five years or more, based on Diatreme’s existing mine design plans, and is a significant increase to the project’s known HM resource.

It also allows for a wider range of options in mine planning and design, which could include ramping up production levels or targeting higher grade ore on the commencement of mining.

Diatreme is also continuing work under its partnership with Hong Kong-based PMHL to increase investment confidence in the project, including water testing, environmental studies and regulatory approvals.

 

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Tue, 11 Nov 2014 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153325/diatreme-resources-acquiring-heavy-minerals-tenement-from-image-resources-58860.html
<![CDATA[News - Diatreme Resources completes fund raising ]]> https://www.proactiveinvestors.com.au/companies/news/153323/diatreme-resources-completes-fund-raising-56544.html Diatreme Resources (ASX:DRX) has executed agreements for two placements of 27.7 million shares and 50 million shares to one existing shareholder and one new shareholder.

The first placement is priced at $0.011, raising $304,700, and the second is priced at $0.012, raising $600,000.

Shares from the second placement will also have 25 million attaching options which are exercisable at $0.02 and expiring on 30 June 2016.

The above placements will be applied to the company’s project activities and for working capital.

In addition, Diatreme has received firm commitments from Ms Lai You, who is a related party of a company director, to place 34 million shares at $0.012 with 17,000,000 attaching options exercisable at $0.02 and expiring 30 June 2016.

Diatreme is valued at $6 million, and its flagship asset is the Cyclone Zircon heavy mineral sands project in Western Australia.

 

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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Mon, 28 Jul 2014 14:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153323/diatreme-resources-completes-fund-raising-56544.html
<![CDATA[News - Diatreme Resources in non-core asset sell off ]]> https://www.proactiveinvestors.com.au/companies/news/153322/diatreme-resources-in-non-core-asset-sell-off-54259.html Diatreme Resources (ASX: DRX) has signed a term sheet granting Superior Resources (ASX: SPQ) the option to acquire a 100% interest in the non-core Tick Hill Gold Project in northwest Queensland.

This will allow the company to focus on advancing its Cyclone Zircon Project in Western Australia while retaining exposure to Tick Hill through a shareholding in Superior.

Under the option agreement, Superior was granted a three-year option to acquire a 100% interest in Tick Hill in return for the issue of 10 million Superior shares to Diatreme.

If Superior elects to exercise the option, then at the election of Diatreme, Superior will pay Diatreme $6 million in cash, the equivalent in Superior shares, or any combination of cash and shares.

During the option period, Superior will have the exclusive right to manage, plan and conduct exploration activities on the Project; retains the right under the JVA to be transferred a 50% interest in the Project upon spending $750,000 on exploration activities; and may mine and process existing surface material, including waste dumps, on the basis of each party funding 50% of the costs or as otherwise agreed between the parties.

The revenue generated by such an operation will be apportioned between the parties in accordance with their respective proportionate contributions to the costs.

Tick Hill Gold Project

Tick Hill comprises three granted Mining Leases located 110 kilometres southeast of Mount Isa.

The Tick Hill Gold Deposit was mined between 1991 and 1995 by Carpentaria Gold, producing 513,333 ounces of gold from 705,000 tonnes of ore at a recovered grade of 22.6g/t gold.

This makes it one of the highest grade gold deposits in Australia’s recent gold producing history.

Previous mining at Tick Hill was by an open pit with an underground mine beneath the open pit. Access to the underground mine was via a decline.

A blind-bored vertical shaft which connected to the decline at depth was used for ventilation and as a mine escape route.

Both the decline and vertical shaft were capped by concrete at the completion of mining but both are expected to be recoverable if required for further mining. Mine workings are currently flooded.

 

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Thu, 10 Apr 2014 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153322/diatreme-resources-in-non-core-asset-sell-off-54259.html
<![CDATA[News - Diatreme Resources scores $2m from Hong Kong company for Cyclone Zircon mineral sands ]]> https://www.proactiveinvestors.com.au/companies/news/153320/diatreme-resources-scores-2m-from-hong-kong-company-for-cyclone-zircon-mineral-sands-51752.html Diatreme Resources (ASX: DRX) has signed a heads of agreement with Perpetual Mining Holding for a $2 million investment into its Cyclone Zircon heavy mineral sands project, Western Australia.

The project is controlled by Diatreme's 100% subsidiary, Lost Sand.

Perpetual is a Hong Kong company with business connections in China, including operational experience in the iron ore mining and steel products processing industries.

Subject to Foreign Investment Review Board approval, Perpetual has confirmed their commitment to invest $2 million directly into the project to earn a 6% equity stake.

The investment is designed to fund the securing of suitable water supplies for future mining operations, approvals for infrastructure development, and approvals required for the grant of certain mineral licenses.
 
Diatreme recently satisfied the initial milestone milestone with the discovery of significant water flows below 530 metres from a water bore drilled into Officer Basin sediments beneath the proposed Cyclone mine area in November.

Pump testing, expected to be undertaken and reported on in early 2014, will provide Diatreme with a clearer picture of planning requirements for any future production bore field to supply a future mining operation.

Work will continue on achieving the second and third milestones with Perpetual funding the activities through instalment payments determined as per agreed budgets and work plans.

 

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Fri, 10 Jan 2014 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153320/diatreme-resources-scores-2m-from-hong-kong-company-for-cyclone-zircon-mineral-sands-51752.html
<![CDATA[News - Diatreme Resources finds water for mineral sands mining at Cyclone, Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/153318/diatreme-resources-finds-water-for-mineral-sands-mining-at-cyclone-western-australia-50061.html Diatreme Resources (ASX:DRX) shares should rise today after intersecting water flows below 530 metres from initial deep water bore drilling at its Cyclone Zircon heavy mineral sands project in Western Australia.

The water is critical to the proposed mineral sands operation.

Diatreme was granted an ASX trading halt on Friday to review and verify material information from the bore, which is now at a depth of 628 metres with drilling to continue to the 800 metre target.

High yielding sandstone aquifer had been intersected, encountering 98 metres of fine porous sandstone beds with good to high permeability.

The water flows appear to be part of an extensive Officer Basin aquifer system previously intersected by oil explorers 80 kilometres to the east of the current bore.

This successful water search, virtually on site of the proposed mineral sands operation, will enhance mining infrastructure by reducing the need for water to be pumped in from a distant location.

 

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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Mon, 11 Nov 2013 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153318/diatreme-resources-finds-water-for-mineral-sands-mining-at-cyclone-western-australia-50061.html
<![CDATA[News - Diatreme Resources reviewing deep water bore data at heavy mineral sands project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/153315/diatreme-resources-reviewing-deep-water-bore-data-at-heavy-mineral-sands-project-in-wa-49988.html Diatreme Resources (ASX: DRX) has been granted an ASX trading halt while it reviews and verifies material information from its deep water bore drilling at its Cyclone Zircon heavy mineral sands project in Western Australia.

The halt will remain in place until the earlier of the start of trading on Tuesday, 12 November 2013, or the company releasing an announcement.

The deep water bore targeted deep Officer Basin aquifers at Cyclone to gain an understanding of water availability and quality for the project.

If water is available at the mine site, this will significantly improve infrastructure requirements for water by reducing the need for it to be pumped from a distant offsite bore field.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 Nov 2013 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153315/diatreme-resources-reviewing-deep-water-bore-data-at-heavy-mineral-sands-project-in-wa-49988.html
<![CDATA[News - Diatreme Resources and Antofagasta subsidiary drill for copper in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/153313/diatreme-resources-and-antofagasta-subsidiary-drill-for-copper-in-queensland-48044.html Diatreme Resources (ASX:DRX) has re-commenced diamond drilling in its quest to uncover large scale porphyry copper mineralisation at the Rosevale Project at Clermont in central Queensland.

As part of Diatreme's joint venture at Clermont, a wholly owned subsidiary of Antofagasta (LON: ANTO) is targeting large +1 million tonne copper deposits, with exploration activities tailored to this end.

A 500 metre deep diamond drill hole has commenced, targeting a high IP anomaly situated between the Gollan and West Copperfield prospects. The hole will be drilled at a dip of 60 degrees eastwards and is expected to intersect the anomaly 150 metres down hole.

At the Gollan Prospect toward the north of the Rosevale Porphyry belt, DRX has defined a wide zone of hematite-bearing propylitic alteration of the intrusives, located in a zone of abundant secondary carbonate copper on surface.

Notably, the geological setting is reminiscent of the high grade Ridgeway deposit at Cadia in New South Wales.

Drilling is expected to take two weeks to complete, with results to be progressively released as they become available.

 

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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Mon, 16 Sep 2013 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153313/diatreme-resources-and-antofagasta-subsidiary-drill-for-copper-in-queensland-48044.html
<![CDATA[News - Diatreme Resources awarded copper porphyry project in Western Victoria ]]> https://www.proactiveinvestors.com.au/companies/news/153311/diatreme-resources-awarded-copper-porphyry-project-in-western-victoria-47916.html Diatreme Resources (ASX:DRX) has secured an exploration licence in an area highly regarded as a fertile, Andean-style magmatic arc system, prospective for porphyry copper deposits, in Victoria.

The exploration licence boasts several geophysical drill targets under shallow overburden, along with 30 kilometres of non-explored strike with easy access.

The area of interest is part of the Mount Stavely Volcanic Complex within the Grampians-Stavely structural zone in western Victoria.

The Mount Stavely Volcanics are a fault bound sequence of Cambrian andesitic-rhyolitic lavas and volcaniclastic rocks with plugs of tonalite, interbedded with or faulted against the quartz turbidites of the Glenthompson Sandstone.

Ground preparations are scheduled later this month, with drilling to take place when weather and ground conditions are more favourable.

Diatreme also holds projects in heavy mineral sands, base metals and gold, and owns the Cyclone Zircon Deposit in Western Australia.

 

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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Thu, 12 Sep 2013 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153311/diatreme-resources-awarded-copper-porphyry-project-in-western-victoria-47916.html
<![CDATA[News - Diatreme Resources starts hunt for satellite heavy mineral deposits near Western Australia project ]]> https://www.proactiveinvestors.com.au/companies/news/153309/diatreme-resources-starts-hunt-for-satellite-heavy-mineral-deposits-near-western-australia-project-47849.html Diatreme Resources (ASX: DRX) has restarted regional aircore exploration drilling north of Cyclone Zircon heavy mineral sands project near Western Australia's border with South Australia.

The regional exploration is part of its continuing search for satellite heavy mineral deposits.

This follows the drilling of three shallow water bores within 20 kilometres of the Cyclone deposit that will provide water for use in the deep water bore scheduled for drilling in October at the proposed mine site.

Diatreme is planning to carry out a major water supply investigation at the project, one of three milestones that the company has agreed to under its in-principle agreement with Hong Kong based Perpetual Mining.

This will allow it to progress its potential $2 million farm-in with Perpetual.

 

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, 11 Sep 2013 16:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153309/diatreme-resources-starts-hunt-for-satellite-heavy-mineral-deposits-near-western-australia-project-47849.html
<![CDATA[News - Diatreme Resources progressing heavy mineral sands project in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/153306/diatreme-resources-progressing-heavy-mineral-sands-project-in-western-australia-46618.html Diatreme Resources (ASX: DRX) is preparing to carry out a major water supply investigation at its Cyclone Zircon heavy mineral sands project near Western Australia's border with South Australia for future mining operations.

This follows receipt of additional funding through share placements and the negotiation of an in-principle agreement for a potential farm-in with Hong Kong based Perpetual Mining, allowing it to progress the project during a time where capital is a scarce resource.

The water supply investigation will meet one of three milestones that the company has agreed to under its in-principle agreement with Perpetual Mining.

The other milestones are securing approvals for development of a road transport corridor between Forrest and the Cyclone Deposit and approvals required for the grant of MLA 69/141 and associated miscellaneous licences as required.

Once its aircore rig has completed drilling shallow bores for the water supply investigation, the company will carry out further drilling around known concentrations of heavy minerals at the Eucla Basin, where drilling to date has not been sufficient to adequately define the economic potential of the mineralisation.

It is also preparing to carry out exploration using the aircore rig along interpreted DEM features and stratigraphic units favourable for the development of heavy mineral strand lines at its Arckaringa Mineral Sands Project in South Australia.


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Mon, 12 Aug 2013 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153306/diatreme-resources-progressing-heavy-mineral-sands-project-in-western-australia-46618.html
<![CDATA[News - Diatreme Resources carrying out rotary air blast drilling at copper project in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/153304/diatreme-resources-carrying-out-rotary-air-blast-drilling-at-copper-project-in-queensland-46476.html Diatreme Resources (ASX: DRX) is conducting a rotary air blast drilling program at the Clermont Copper Project in central Queensland to locate any porphyry style mineralisation or alteration.

The Clermont tenement package is subject to a farm-in by Antofagasta (LON: ANTO), which has the option to fund US$8 million in exploration expenditure to earn a 51% interest in a defined area of interest.

Drilling is currently being conducted over EPM 17968 targeting an extensive area between the Hillview East and Consols prospects about six kilometres within the highly prospective Rosevale Porphyry Corridor.

The geology in this zone is blind under cover and lacks any mapping or surface geochemistry, but importantly represents half the strike length of the RPC, which is a geological zone hosting copper, gold, silver and molybdenum porphyry-style mineralisation.

Diatreme noted the program is expected to contain about 250 shallow drill holes, with an average depth to basement of 4.5 metres.

Following completion of drilling, basement samples will be sent for analyses for gold and base metals. Results from this program are expected to aid in the interpretation of this largely unexposed portion of the RPC, 15 kilometres west of Clermont.

The overall intention of the work is to define further diamond drilling targets.

A 500 metre deep diamond drill hole from surface is scheduled to commence in September 2013 targeting a very high Induced Polarisation anomaly situated between the Gollan and West Copperfield prospects in the northern portion of the RPC.

 

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, 07 Aug 2013 18:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153304/diatreme-resources-carrying-out-rotary-air-blast-drilling-at-copper-project-in-queensland-46476.html
<![CDATA[News - Diatreme Resources signs farm in with Antofagasta Minerals for Queensland copper project ]]> https://www.proactiveinvestors.com.au/companies/news/153303/diatreme-resources-signs-farm-in-with-antofagasta-minerals-for-queensland-copper-project-38426.html Diatreme Resources (ASX:DRX) has executed a farm in agreement with Antofasgasta Minerals that paves the way for drilling for copper at its Rosevale project in Queensland.

A startup budget of US$700,000 has been allocated and an initial reverse circulation drilling has now started with Diatreme as the operator.

The initial reverse circulation drilling will be followed by deep diamond drilling over the Rosevale project to potentially discover large scale prophyry copper mineralisation.

Drilling is likely to take up to eight weeks to complete.

Initial drilling is being conducted at Red Dog within the central zone of the 10 kilometres long Rosevale Porphyry belt. Three 150 metres deep percussion holes are planned for completion to determine the extent, size and geometry of shallow alluvium covered granite rocks.

The outcrops there host disseminated chalcopyrite.

Drilling will also occur at the Elektra prospect with three 150 metres RC percussion drill holes planned and the Gollan prospect, where Diatreme had established from previous drilling a wide zone of "redification" alteration of monzonite intrusives in a zone of secondary carbonate copper.

An initial 700m target depth diamond core hole located 300 metres along strike from a previous diamond core hole will test deeper into the alteration vector, as part of seeking out the mineralised source of the alteration.

A second diamond core hole, also with a target depth of 700 metres, will be positioned and drilled once results from the initial drill holes are ascertained.

 

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, 18 Jan 2013 11:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153303/diatreme-resources-signs-farm-in-with-antofagasta-minerals-for-queensland-copper-project-38426.html
<![CDATA[News - Diatreme Resources targets heavy mineral sands exploration; applies for two new licences ]]> https://www.proactiveinvestors.com.au/companies/news/153301/diatreme-resources-targets-heavy-mineral-sands-exploration-applies-for-two-new-licences-38067.html Diatreme Resources (ASX:DRX) is steadfast in its focus on exploring for heavy mineral sands following application for two new exploration permits.

Exploration Licence Application "Serpentine" covers 292 square kilometres contiguous to its flagship Cyclone Zircon project in Western Australia. The licence hosts a number of strandline zones for further evaluation.

Exploration Licence Application “Elliston” covers 994 square kilometres at the southern extremity of the Eucla Basin in the Eyre Peninsular of South Australia.

A 35 kilometre long potential strandline zone may host accumulations of heavy minerals. BHP Billiton (ASX: BHP) had earlier explored this ground but gave up its permit.

Both tenement applications cover known heavy mineral sands mineralisation and present opportunities for the company to expand its project portfolio.

With high value mineral assemblage containing 25% zircon and with the reported mineral assemblage, a deposit of 2% heavy minerals could be viable.


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, 11 Jan 2013 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153301/diatreme-resources-targets-heavy-mineral-sands-exploration-applies-for-two-new-licences-38067.html
<![CDATA[News - Diatreme Resources targets South Australian iron with Braemar Iron ]]> https://www.proactiveinvestors.com.au/companies/news/153300/diatreme-resources-targets-south-australian-iron-with-braemar-iron-37966.html Diatreme Resources (ASX: DRX) has brought in Braemar Iron to explore the southern areas of its Anabama Copper Project in South Australia for iron deposits.

The sedimentary Braemar Iron Formation, located between Broken Hill in New South Wales and Peterborough, South Australia, is thought to exist over 30 kilometres of strike length within the company’s licences.

It is believed to be the next upcoming major iron ore province within Australia to see development, with a number of companies having made significant discoveries of magnetite iron deposits.

Braemar has the right to acquire up to 70% of the right, title and interest in the Anabama Iron Project within the Anabama Copper Project tenements, by contributing funding and conducting exploration work for iron.

Under Phase 1, Braemar has the right to earn a 51% interest by contributing funding of $500,000 and conducting exploration work within 24 months of the Heads of Agreement being made.

This could include detailed aerial magnetic surveys to assist with targeting areas for follow-up ground reconnaissance and drilling.

Braemar can earn the remaining 19% under Phase 2 by contributing a further $500,000 on exploration during the 12 month period after the end of Phase 1.

Diatreme is currently exploring for copper, gold and cobalt mineralisation within the northern portion of the two licences that make up the Anabama project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 09 Jan 2013 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153300/diatreme-resources-targets-south-australian-iron-with-braemar-iron-37966.html
<![CDATA[News - Diatreme Resources raises $791,000 for Cyclone zircon DFS ]]> https://www.proactiveinvestors.com.au/companies/news/153298/diatreme-resources-raises-791000-for-cyclone-zircon-dfs-36902.html Diatreme Resources (ASX: DRX) has increased its cash reserves by $791,000 following a share purchase plan, with the new funds to be allocated to progressing the Cyclone Zircon Project Definitive Feasibility Study.

Some funds will also be allocated into continuing exploration at other projects in the company's portfolio.

Cyclone is hosted in the highly prospective Eucla Basin in Western Australia, which is known for very high value mineral sand deposits including Iluka’s Jacinth-Ambrosia Project.

Some positives for Diatreme is a single underlying landowner who is committed to development, alond with port options by standard gauge railway.

The Cyclone Deposit has a Probable Reserve of 97 million tonnes at 2.5% HM and 770,000 Tonnes of Zircon in Ground (Reserve).

Diatreme has a timeline for mining and production in 2015.

 

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, 05 Dec 2012 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153298/diatreme-resources-raises-791000-for-cyclone-zircon-dfs-36902.html
<![CDATA[News - Diatreme Resources in pre open pending capital raising details ]]> https://www.proactiveinvestors.com.au/companies/news/153296/diatreme-resources-in-pre-open-pending-capital-raising-details-30884.html Diatreme Resources (ASX: DRX) has been granted a trading halt by the ASX pending an update on capital raising negotiations, with the company's shares placed in pre-open.

Diatreme has not yet indicated where the potential capital injection will be allocated, but the company has been making some impressive progress at the Cyclone zircon project in Western Australia recently.

Earlier in the year Diatreme delivered an upgrade of Heavy Mineral Resource estimate released as part of the Prefeasibility Study, which included greater than 80% of resource now classified in the high confidence Measured category.

Highlighting the potential of the project, the current Mineral Resource estimate is 136Mt at 2.3% HM at a 1% HM cut-off grade, containing 3.1Mt HM.

The PFS pit design contains a Probable Ore Reserve of 97Mt at 2.5% HM, including 0.79% Zircon, containing 2.4Mt HM, including 770kt of Zircon.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 6th July.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 04 Jul 2012 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153296/diatreme-resources-in-pre-open-pending-capital-raising-details-30884.html
<![CDATA[News - Diatreme Resources takes step forward in Prefeasibility Study for Cyclone Project ]]> https://www.proactiveinvestors.com.au/companies/news/153295/diatreme-resources-takes-step-forward-in-prefeasibility-study-for-cyclone-project-24628.html Diatreme Resources (ASX: DRX) has completed the metallurgical testwork and process designs as part of the Cyclone Project Prefeasibility Study.

Testwork was undertaken on a 7 tonne bulk sample by CPG Resources – Mineral Technologies, with the aim of:

- Producing a high grade heavy mineral concentrate through a wet concentrate process;
- Maximising the recovery of zircon; and
- Developing process flowsheets for engineering designs for the wet and dry heavy mineral processing plants.

Testwork with a wet concentrator produced a heavy minerals concentrate of 97.8% using conventional mineral sand separation technology.

Importantly, it showed that off the shelf technology can be used for mineral processing at Cyclone.

In addition, a mineral separation process has been designed to produce zircon and two titanium products, HiTi87 (86.6% titanium dioxide) and HiTi67 (67.3% titanium dioxide).

Zircon distribution from the heavy metal concentrate to the mineral separation plant final zircon product was estimated at 85%.

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Mon, 30 Jan 2012 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153295/diatreme-resources-takes-step-forward-in-prefeasibility-study-for-cyclone-project-24628.html
<![CDATA[News - Diatreme Resources 34% price spike prompts ASX price and volume query ]]> https://www.proactiveinvestors.com.au/companies/news/153293/diatreme-resources-34-price-spike-prompts-asx-price-and-volume-query-22083.html Diatreme Resources (ASX: DRX) received a price and volume 'please explain' from the ASX following a 34% jump to $0.094 in intra-day trading today, up from $0.07 on 11 November 2011.

Diatreme said it is not aware of any information that has not been announced which could explain the sudden interest.

Diatreme is seeking to develop the Cyclone Zircon Project in Western Australia. The project was independently valued at between A$270 to A$330 million in June 2011.

A Pre-feasibility study, targeted for completion by end of 2011, is currently underway.

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Tue, 15 Nov 2011 15:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153293/diatreme-resources-34-price-spike-prompts-asx-price-and-volume-query-22083.html
<![CDATA[News - Diatreme Resources' Cyclone project has hallmarks of a world class zircon mine ]]> https://www.proactiveinvestors.com.au/companies/news/153292/diatreme-resources-cyclone-project-has-hallmarks-of-a-world-class-zircon-mine-17289.html Diatreme Resources (ASX: DRX) is continuing its pre-feasibility studies over the zircon rich Cyclone Deposit and has received an updated review that points to improved economics at the project based on higher mineral sands prices.

With higher mineral sands and zircon prices at above $1,600 per tonne, the project has an after tax value of $270 million, up from $142 million in January 2011.

Consulting Mining Engineers Terrence Willsteed & Associates wrote the report entitled “Independent Technical Review and Valuation of the Cyclone Deposit – Western Australia”.

The report was prepared as a replacement to the TWA report released 17 January 2011 and takes into account all relevant data previously discussed, but is updated with the current trends for mineral pricing, supply and demand as at June 2011.

Over the past five months significant developments have occurred in the pricing of mineral sand products, with zircon prices in particular  increasing to levels above $1,600 per tonne.

Based upon a range of criteria detailed in the report, TWA have suggested the following current value range for the Cyclone Project with the equivalent January 2011 value comparisons in brackets:

- Low: $270 million indicated by the base case after-tax value and allowing for Pre-development Study bases and medium risk levels. ($142 million)
- High: $330 million to provide for suggested revenue improvement, resource increase and lower risk levels, and for current comparative project values. ($170 million)
- Most Likely: $300 million ($156 million)

In August 2010 Diatreme signed a memorandum of understanding with BaoTi Group Limited which is  based in Shaanxi Province, central China.

The agreement would entail, after due diligence, BaoTi taking an equity investment in Diatreme and jointly developing the Cyclone Project, through a joint venture vehicle in which BaoTi can earn a significant direct stake in the Project.

On May 26 Diatreme announced that BaoTi Group is undertaking corporate due diligence on Diatreme and are looking to finalise the negotiations for a joint venture and prepare the heads of agreement, with the expressed aim of completion at or before the end of June 2011.


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Tue, 21 Jun 2011 15:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153292/diatreme-resources-cyclone-project-has-hallmarks-of-a-world-class-zircon-mine-17289.html
<![CDATA[News - Diatreme Resources met testwork indicates commercial potential of Cyclone HM Deposit ]]> https://www.proactiveinvestors.com.au/companies/news/153291/diatreme-resources-met-testwork-indicates-commercial-potential-of-cyclone-hm-deposit-11953.html Brisbane based Diatreme Resources (ASX: DRX) has received preliminary results from a number of bulk samples as part of the ongoing prefeasibility study looking into the recoverable mineral products from the Cyclone heavy mineral (HM) Deposit in Western Australia.
 
A very high zircon recovery of 98% has been received from spiral tests and premium grade Zircon product was generated from benchtop tests, displaying very low levels of radioactive elements with good recovery of high value titanium minerals.

As zircon comprises more than 75% of the projected product value this high recovery represents a significant step in confirming the commercial potential of the project.

Prices for Zircon are at record highs and the market conditions are entering a period wherein the current producers are finding it difficult to meet consumer demands, as there is a shortage of developed/developing zircon producing mines throughout the world.

The Cyclone Deposit resource stands at 132.1Mt at 2.3% HM (at 1% cut-off grade) containing 3.1Mt HM, of which >40% is classified as Measured Resource. Diatreme expects that the conversion rate of the resource to reserves will be high.

A composited bulk sample was selected from the HM ore zone by DRX geologists and tested at the CPG Resources facility on the Gold Coast, Queensland, for spiral performance testwork.

The metallurgical testing was considered successful with very good recovery of valuable heavy minerals on a simulated wet concentrator circuit.

Laboratory analysis of the bulk sample reported 3.9% HM with 35% zircon in the HM mineral assemblage, which represented higher grades than estimated from corresponding drill data.

Overall TiO2 (rutile, leucoxene, HiTi and altered ilmenite) recovery to concentrate was 74%. The lower recovery of total TiO2 in comparison to zircon is due to rejection of light, low value, TiO2 bearing minerals to spiral tails and hence production of a higher value TiO2 concentrate.

HM concentrate has been processed through laboratory wet and dry separation circuits including a hot acid leach process to successfully produce a 5kg sample of final zircon product. Premium prices can be expected on the basis of the product assay which exhibits low radioactivity levels of <350ppm U+Th.

More detailed work is planned as part of the prefeasibility study to develop preliminary process flowsheets for “wet concentrator” and “dry mineral” separation plants.

Cyclone represents potential for new, long-term, HM supply source for both Australian and overseas industries and good exploration potential remains for the confirmation of further HM resources in nearby areas.

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Tue, 23 Nov 2010 16:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153291/diatreme-resources-met-testwork-indicates-commercial-potential-of-cyclone-hm-deposit-11953.html
<![CDATA[News - Diatreme Resources to raise up to A$2.16m in capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/153289/diatreme-resources-to-raise-up-to-a216m-in-capital-raising--11299.html With projects focusing on heavy mineral sands, copper, base metals and gold, the Diatreme Resources (ASX: DRX) A$2.16 million placement will keep the company well funded in the short term.

The placement consists of two tranches, with trache one 25.1 million shares for immediate allotment, with the tranche two 6 million shares subject to shareholder approval.

The placement price is $0.07.

Last month a JORC compliant, 132.1 million tonnes at 2.33% heavy minerals, containing 3.1Mt of heavy minerals was announced at the company’s Cyclone Deposit, and importantly with over 40% in the measured category.

The company said 998,000 tonnes of zircon, excluding titanium minerals, exists within Cyclone.

Recent agreeemnts entered into with the BaoTi Group and Image Resources (ASX: IMA) are positive indications that the Cyclone Deposit is attracting both local and overseas interest.

With the recent increase in zircon and rutile prices, the high percentages of these minerals within Cyclone are significant for the potential future development of Diatreme.

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Mon, 01 Nov 2010 14:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153289/diatreme-resources-to-raise-up-to-a216m-in-capital-raising--11299.html
<![CDATA[News - Diatreme Resources in trading halt pending capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/153288/diatreme-resources-in-trading-halt-pending-capital-raising-11209.html Brisbane-based explorer Diatreme Resources (ASX: ERL) has requested a trading halt pending release of an announcement about a capital raising.

The halt will last until an announcement is made or commencement of trading on Monday 1st November 2010.

On October 11 Diatreme reported an Inferred Heavy Mineral Resource for the Zephyr Deposit, located within 2km of the Cyclone Deposit in Western Australia.

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Thu, 28 Oct 2010 06:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153288/diatreme-resources-in-trading-halt-pending-capital-raising-11209.html
<![CDATA[News - Diatreme Resources inks maiden resource for Zephyr deposit of 106Mt at 1.5% HM ]]> https://www.proactiveinvestors.com.au/companies/news/153286/diatreme-resources-inks-maiden-resource-for-zephyr-deposit-of-106mt-at-15-hm--10692.html Brisbane based diversified mineral explorer Diatreme Resources (ASX: DRX) has reported an Inferred Heavy Mineral Resource for the Zephyr Deposit, located within 2km of the Cyclone Deposit in Western Australia.

There is a maiden resource estimate for the Zephyr Heavy Mineral Sand Deposit of 106 million tonnes (Mt) at 1.5% HM at a 1% HM cut-off grade, containing 1.5 Mt HM.

The Zephyr resource is classified as Inferred, and occurs within interpreted estuarine/ lagoonal sands that have accumulated behind the Cyclone barrier beach sequence.

At a 1% HM cut-off grade, the deposit is approximately 7.5 ki lometres long, 0.5 to 1.5 ki lometres wide, 3 to 15 metres thick, and is located beneath 19.5 to 39 metres of sedimentary overburden.

The Zephyr Deposit represents the first deposit delineated as part of Diatreme’s “brownfields” exploration strategy centred around the Cyclone HM Deposit which is currently in the prefeasibility stage of development.

On October 5 Diatreme upgraded the Cyclone HM resource estimate to 132.1 million tonnes at 2.33% heavy minerals (HM) at a 1% cut-off grade, containing 3.1Mt HM, of which >40% is classified as Measured.

Good exploration potential remains for the confirmation of further HM resources in nearby areas. Diatreme is focused on taking Cyclone through to mining and finding additional HM resources.

The Zephyr mineralisation was originally discovered in a regional drilling program undertaken in 2008 within the company’s Wanna East tenement (E69/2408). It lies within the highly prospective Wanna area of the Eucla Basin, 220 kilometres north of the transcontinental railway.

Mineralisation within Zephyr is relatively uniform but low grade, and relatively deep when compared to Cyclone.

The announcement of the Zephyr resource is considered a technical success indicating there is potential for further satellite deposits to be located within close proximity to the Cyclone Deposit, which remains the focus of the company’s attention.

The Wanna area remains highly prospective and additional drilling is proposed. Considerable geological modelling has been undertaken over the Wanna area which hosts the Cyclone and Zephyr deposits and Diatreme geologists are confident further mineralisation will be discovered in this prospective area of the Eucla Basin.

 

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Mon, 11 Oct 2010 08:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153286/diatreme-resources-inks-maiden-resource-for-zephyr-deposit-of-106mt-at-15-hm--10692.html
<![CDATA[News - Diatreme Resources boosts Cyclone HM resource estimate to 132.1Mt at 2.33% ]]> https://www.proactiveinvestors.com.au/companies/news/153285/diatreme-resources-boosts-cyclone-hm-resource-estimate-to-1321mt-at-233--10530.html Brisbane based diversified mineral explorer Diatreme Resources (ASX: DRX) has upgraded the Cyclone HM resource estimate to 132.1 million tonnes at 2.33% heavy minerals (HM) at a 1% cut-off grade, containing 3.1Mt HM, of which >40% is classified as Measured.

The upgrade confirms the economic potential of Diatreme's fully owned zircon rich Cyclone HM Deposit in Western Australia and demonstrates the robustness of previous estimates.

It is situated within the emerging world class Eucla Basin heavy mineral sands province, along with extensive areas of underexplored ground prospective for heavy mineral sands.

There are 998,000 tonnes of zircon (excluding titanium minerals) within Cyclone, a 6.7% increase over previous estimates within DRX ground.

The company expects that the conversion rate of the resource to “reserves” will be high due to the approach adopted by DRX personnel and knowledge gained by prefeasibility work.

The deposit is "shaping as a significant new Zircon development project," when combined with the JORC resource announced by Image Resources (ASX: IMA) in July 2010 over their neighbouring Cyclone Extended Deposit.

Recent MOU’s entered into with the BaoTi Group and Image Resources are positive indications that the Cyclone Deposit is attracting both local and overseas interest.

The high percentages of these minerals within Cyclone (and Cyclone Extended) are significant for future development and market infiltration, as the current upturn in zircon and rutile prices expected to continue.

Prices for Zircon are at record highs and the market conditions are entering a period wherein the current producers are finding it difficult to meet consumer demands, as there is a shortage of developed/developing zircon producing mines throughout the world.

Diatreme said Cyclone represents potential for new, long-term, HM supply source for both Australian and overseas industries and good exploration potential remains for the confirmation of further HM resources in nearby areas.

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Tue, 05 Oct 2010 10:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153285/diatreme-resources-boosts-cyclone-hm-resource-estimate-to-1321mt-at-233--10530.html
<![CDATA[News - Diatreme Resources raises A$2m via Share Placement ]]> https://www.proactiveinvestors.com.au/companies/news/153283/diatreme-resources-raises-a2m-via-share-placement-6164.html Following the announcement on 3 March 2010 of positive scoping study results for the Cyclone Heavy Mineral Deposit, Diatreme Resources (ASX: DRX) has completed a Placement of 25.50 million ordinary fully paid shares (Shares) at nine cents per share (raising $2,295,000), to sophisticated and professional investors, including existing major shareholders.

The company now advises that a total of 5.15 million Shares of the 25.50 million Shares are subject to shareholder approval at a general meeting of shareholders, due to Directors taking up Shares in the Placement.

The 5.15 million Shares will not be issued until the relevant approval is obtained.

Funds will be applied towards the Cyclone prefeasibility studies being undertaken during the remainder of this year, together with the proposed co-funding from international industry groups of the Wanna Heavy Mineral Sands Project (encompassing the Cyclone Deposit).

The Placement was managed by Intersuisse Ltd, together with PhillipCapital Australia in Melbourne.

This announcement ends the voluntary suspension requested by DRX on 30 March 2010.

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Thu, 01 Apr 2010 05:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153283/diatreme-resources-raises-a2m-via-share-placement-6164.html
<![CDATA[News - Diatreme Resources assembles project team, funding for Cyclone zircon project, WA ]]> https://www.proactiveinvestors.com.au/companies/news/153281/diatreme-resources-assembles-project-team-funding-for-cyclone-zircon-project-wa-5699.html Diatreme Resources (ASX: DRX) has updated progress on the company’s planned zircon production in the Eucla Basin of Western Australia.

Following the company’s announcement on 3 March 2010 of positive scoping study results for the Cyclone Heavy Mineral Deposit, Diatreme is now in the process of assembling a dedicated project team to manage the prefeasibility studies being undertaken during the remainder of this year.

Diatreme said that on the completion of successful prefeasibility studies, feasibility studies would follow in 2011 and project construction anticipated to begin in late 2012.

Meanwhile, discussions are underway with international industry groups with a view to co-funding the development process for the Wanna Heavy Mineral Sands Project (encompassing the Cyclone Deposit).

Any development would include the identified Cyclone heavy mineral resources and any satellite resources feeding into a central mining operation.

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Tue, 16 Mar 2010 11:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/153281/diatreme-resources-assembles-project-team-funding-for-cyclone-zircon-project-wa-5699.html
<![CDATA[News - Diatreme Resources lifts capital raising to $3.67 million ]]> https://www.proactiveinvestors.com.au/companies/news/153280/diatreme-resources-lifts-capital-raising-to-367-million-2729.html Brisbane-based mineral sands explorer Diatreme Resources (ASX: DRX) has decided to expand its current equity placement to 30 million shares to raise $3.675 million.

A total of 21.2 million shares will be allotted over the course of the next couple of weeks and the balance of the placement (8.8 million shares) has to be approved by shareholders at a general meeting, which is planned for early November.

Diatreme’s key asset is the Eucla Basin project in Western Australia.

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Thu, 01 Oct 2009 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/153280/diatreme-resources-lifts-capital-raising-to-367-million-2729.html