Proactiveinvestors Australia Fe Limited https://www.proactiveinvestors.com.au Proactiveinvestors Australia Fe Limited RSS feed en Tue, 25 Jun 2019 15:45:45 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Fe Limited undertakes capital raising to fund rapid exploration of new lithium tenements in WA ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13492/fe-limited-undertakes-capital-raising-to-fund-rapid-exploration-of-new-lithium-tenements-in-wa-13492.html Mon, 27 May 2019 23:29:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13492/fe-limited-undertakes-capital-raising-to-fund-rapid-exploration-of-new-lithium-tenements-in-wa-13492.html <![CDATA[News - Fe Limited reveals favourable changes to lithium projects acquisition terms ]]> https://www.proactiveinvestors.com.au/companies/news/220908/fe-limited-reveals-favourable-changes-to-lithium-projects-acquisition-terms-220908.html Fe Limited (ASX:FEL) and Mercury Resources Group have agreed to certain changes in relation to FEL’s acquisition of the Pippingarra Lithium Project and the Marble Bar Lithium Project from Mercury.

The parties have agreed to the following variations:

• Reduce the number of consideration shares from 15 million to 12.5 million fully paid ordinary shares;

• Waiver of the vendor placement condition; and

• Amend the terms of the total $200,000 cash consideration payments as follows:

non-refundable $50,000 is payable immediately (paid); $50,000 is payable on Completion; and $100,000 is payable following Completion, in the event FEL raises no less than $400,000 through the issue of fully paid ordinary shares from persons introduced by Mercury. READ: Fe Limited to acquire highly prospective lithium projects in Pilbara region

FEL had issued 12.5 million consideration shares on May 23, 2019 using its existing 15% capacity under ASX Listing Rule 7.1. The consideration shares are subject to six months voluntary escrow.

The company and Mercury continue to work towards completion of the transaction which remains subject to certain conditions precedent before June 30, 2019.

READ: Fe Limited secures option over large footprint in world-class Pilbara region, shares surge 50%

Earlier this month, FEL entered an exclusive option agreement to acquire up to a 75% interest in 19 gold, copper and lithium tenements located in the Pilbara region of Western Australia.

The Macarthur tenement package provides FEL with access to highly prospective ground in a world-class lithium, gold and base metals province near to tier one infrastructure.

Early indications suggest one of the tenement package’s leading lithium prospects is the Tambourah Project, located 80 kilometres from Pilbara Minerals Ltd (ASX:PLS) and Altura Mining Ltd (ASX:AJM).

Site visits and sampling conducted by Macarthur identified several targets for further exploration with several occurrences of observed pegmatite in outcrop.

$2 million placement

FEL is undertaking a placement to raise up to $2 million and has already received an initial $338,500 in applications.

]]>
Fri, 24 May 2019 16:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220908/fe-limited-reveals-favourable-changes-to-lithium-projects-acquisition-terms-220908.html
<![CDATA[News - Fe Limited to receive iron ore royalty payment from new Deception mine ]]> https://www.proactiveinvestors.com.au/companies/news/220267/fe-limited-to-receive-iron-ore-royalty-payment-from-new-deception-mine-220267.html Fe Limited (ASX:FEL) will receive a royalty payment of $211,729 from Mineral Resources Ltd (ASX:MIN) for mining of iron ore at Deception mine within the Koolyanobbing project in Western Australia.

FEL chairman Tony Sage said royalty payments from Deception were expected to increase with the mine coming into full production during the March quarter.

MIN has completed the facilities area with first ore hauled in late March to the Koolyanobbing run-of-mine.

1.5% royalty

FEL holds a 1.5% dry metric tonne, FOB royalty, the Evanston Iron Ore Royalty, in respect to the mining licence area that is approximately 20 kilometres north of MIN’s Windarling mine.

The Evanston Iron Ore Royalty area is in WA’s Southern Yilgarn Iron Province, about 400 kilometres northeast of Perth.

Sage said that the ongoing royalty payments would help secure FEL’s funding for all of its projects in the foreseeable future.

READ: Fe Limited’s partner identifies new copper mineralisation style in Bryah Basin

In its March quarterly report MIN said it was ramping up operations at Koolyanobbing.

During the quarter 1.303 million tonnes of iron ore were produced, up from 560,000 tonnes in the December 2018 quarter when production began.

There were 1.591 million tonnes mined in the quarter, up from 1.167 million in the previous quarter while there was 1.518 million tonnes shipped, up from 292,000 tonnes.

Plans to increase production

MIN said it had achieved its Koolyanobbing target annual run rate of 6 million tonnes of iron ore production and plans had been developed to increase production to 8 million tonnes by the first quarter of FY20.

Mine life is estimated at 5-6 years with potential to extend upon the completion of further drilling and exploratory programs on tenement holdings.

READ: Fe Limited secures option over large footprint in world-class Pilbara region, shares surge 50%

Earlier this week FEL entered an exclusive option agreement to acquire up to a 75% interest in 19 gold, copper and lithium tenements in WA’s Pilbara region.

The Macarthur tenement package provides FEL with access to highly prospective ground in a world-class lithium, gold and base metals province near to tier one infrastructure.

]]>
Wed, 15 May 2019 12:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220267/fe-limited-to-receive-iron-ore-royalty-payment-from-new-deception-mine-220267.html
<![CDATA[News - Fe Limited secures option over large footprint in world-class Pilbara region, shares surge 50% ]]> https://www.proactiveinvestors.com.au/companies/news/220167/fe-limited-secures-option-over-large-footprint-in-world-class-pilbara-region-shares-surge-50-220167.html Fe Limited (ASX:FEL) has entered an exclusive option agreement to acquire up to a 75% interest in 19 gold, copper and lithium tenements located in the Pilbara region of Western Australia.

Notably, shares are up 53% at around midday to 2.0 cents signalling the market's approval of the deal.

The company will pay $100,000 for the option which will allow 45 days for FEL to conduct due diligence and secure funding to exercise the option at a $400,000 cost.

The Macarthur tenement package provides FEL with access to highly prospective ground in a world-class lithium, gold and base metals province near to tier one infrastructure.

Early indications suggest one of the tenement package’s leading lithium prospects is the Tambourah Project, located 80 kilometres from Pilbara Minerals Ltd (ASX:PLS) and Altura Mining Ltd (ASX:AJM).

Site visits and sampling conducted by Macarthur identified several targets for further exploration with several occurrences of observed pegmatite in outcrop.

The Hillside Gold Project, Panorama Gold Project and Bonnie Scot Gold Project are also leading gold prospects to be focused on.

READ: Fe Limited holds DRC and Bryah Basin battery metals assets and is picking up Pilbara ground

FEL can earn up to 75% in three stages, the first stage being an initial 25% stake by spending $800,000 and paying $500,000 cash within 12 months.

A further 30% can be earned by spending an additional $750,000 and paying $750,000 in cash or shares within 24 months.

The third stage earning the final 20% taking the total interest to 75% required a further $750,000 expenditure and $750,000 in cash or shares within 36 months of exercise.

$2 million placement to fund potential exercise

Should FEL elect to exercise the option within the 45-day period, it proposes to fund the transaction through a share placement during June 2019 to raise $2 million.

The issue price is expected to be 1.5 cents and come with a 2-cent option for every four shares subscribed for.

]]>
Tue, 14 May 2019 10:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220167/fe-limited-secures-option-over-large-footprint-in-world-class-pilbara-region-shares-surge-50-220167.html
<![CDATA[News - Fe Limited’s partner identifies new copper mineralisation style in Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/219214/fe-limiteds-partner-identifies-new-copper-mineralisation-style-in-bryah-basin-219214.html Fe Limited (ASX:FEL) welcomes results from partner Auris Minerals Ltd (ASX:AUR) in WA’s Bryah Basin which have extended existing copper mineralisation at Forrest and Wodger projects and intersected a new mineralisation style.

The positive hits returned from drilling come as the Bryah Basin’s significant player Sandfire Resources NL (ASX:SFR) seeks new discoveries in the region to feed its De Grussa operations.

READ: Fe Limited partner’s drilling intersects visible primary copper in Bryah Basin

At Forrest diamond drilling returned strong results which support the interpretation of a northern down-plunge extension to known copper mineralisation.

Best result was 8.5 metres at 1.06% copper and 0.42 g/t gold from 382 metres, including 4 metres at 1.59% copper and 0.09 g/t gold, and 1-metre at 1.55% copper and 3.33 g/t gold.

New target for future exploration

The disseminated bornite mineralisation intersected is very encouraging to the partners as this style of copper mineralisation has not previously been intersected at Forrest prospect.

This style provides a new target for future exploration, both at Forrest and at a regional level.

At Wodger the best result was 1.8 metres at 1.73% copper from 335 metres, including 0.2 metres at 9.62% copper and 0.10 g/t gold.

READ: Fe Limited partner reveals more copper and gold in Bryah Basin, Auris surges 70%

FEL chairman Tony Sage said the company was upbeat about the latest results, which added to the considerable interest being shown in the Bryah Basin, particularly by Sandfire Resources.

The company has a 20% free-carried interest in 12 tenements in the basin until a decision to mine.

Diamond drilling at Forrest and Wodger has been completed for a total of 1,302.6 metres and all laboratory assay results have been received.

Auris holds several Bryah Basin projects in joint venture with Fe Limited.

Additional diamond drilling is required to further evaluate the interpreted northerly and north-westerly plunges to copper mineralisation at depth.

READ: Fe Limited confirms receipt of commitments for $400,000 share placement

Auris is also carrying out down hole EM survey work on the completed diamond holes.

A subtle in-hole EM response has been identified within one of the Wodger holes centred on a discrete, semi-massive zone of chalcopyrite mineralisation.

The survey work will be used to determine which geophysical technique, downhole or surficial, is most appropriate to progress exploration at the Forrest project.

]]>
Mon, 29 Apr 2019 13:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219214/fe-limiteds-partner-identifies-new-copper-mineralisation-style-in-bryah-basin-219214.html
<![CDATA[News - Fe Limited holds DRC and Bryah Basin battery metals assets and is picking up Pilbara ground ]]> https://www.proactiveinvestors.com.au/companies/news/219219/fe-limited-holds-drc-and-bryah-basin-battery-metals-assets-and-is-picking-up-pilbara-ground-219219.html Fe Limited (ASX:FEL) (FRA:B4T) specialises in exploration and development in the Democratic Republic of the Congo (DRC) and Western Australia. The company has pursued strategies to explore and add value to assets and position them for development or divestment.

The Western Australian company is actively picking up new ground and forming partnerships with entities that may be interested in pursuing its projects through development or production. It is looking towards production at a DRC project by 2020.

West Leederville-based FEL’s board of directors is led by high-profile mining figure and non-executive chairman Tony Sage. Sage is joined at the boardroom table by two fellow non-executive directors, Kenneth Keogh and Nicholas Sage.

Tony Sage has more than 30 years of industry corporate advisory and capital finance experience and also chairs higher profile connected company Cape Lambert Resources Ltd (ASX:CFE) (FRA:HM5) and European Lithium Ltd (ASX:EUR) (FRA:PF8) (VIE:ELI). The entrepreneur has managed and financed mining and exploration companies for more than 18 years, in Australia, Africa, South America, Europe, Russia, China and South East Asia.

Finance and accounting professional Keogh is a commercial executive general manager at turnkey power solutions and electrical and mechanical contracting company UON Pty Ltd and managing director at the investment firm Ek Holdings Group. He is a former commodities and foreign exchange trading agent and past director at the industry sponsorships company UON Racing.

Marketing and communications professional Nicholas Sage has more than 25 years in management and consulting roles. The management consultant assists companies from a base in Western Australia. He previously held management roles at the WA Government travel and tourism information agency Tourism Western Australia.

What is Fe Limited’s key development asset?

Fe Limited holds a portfolio of assets in the DRC and Australia, at various stages of exploration and development, with varying degrees of ownership stakes.

The company’s DRC asset is its flagship 600-hectare development asset, the Kasombo Copper-Cobalt Project on the central African country’s Katanga Copper Belt.

FEL’s plans for the 50%-held asset are to drill the asset during dry season as it moves towards a stated goal of production by the March quarter of 2020.

Kasombo is prospective for copper and cobalt, with returned assays from trenching at cobalt-rich mineralised area Kasombo 7 last year delivering 10 metres at 0.21% cobalt between 42 and 50 metres; and 12 metres at 0.23% cobalt between 17 and 26 metres in August 2018.

The battery metals project, along with Cape Lambert’s Kipushi Cobalt-Copper Tailings Project, are located near an international airport at Lubumbashi, the DRC’s second largest city.

Kasombo features three mineralised areas, Kasombo 5, 6 and 7, within two granted mining licences previously noted as being held by La Generale Des Carrieres Et Des Mines SA.

The project 25 kilometres from Lubumbashi is held by joint venture company Soludo Lambert Mining SAS. A 50:50 JV, Soludo Lambert is half owned by FEL, with the other interest held by Congolese entity Paragon Mining SARL.

FEL finished acquiring its stake in Soludo Lambert in November 2017, picking up the stake from Sage-led vendor Cape Lambert.

Extensive mapping, sampling and preliminary drilling has been undertaken at the project, returning strong copper-cobalt results.

FEL has outlined an indicative timetable for Kasombo development which would involve four discrete stages for next steps at the project.

The first step at Kasombo, tipped to start in the June 2019 half-year, is a dry season drilling program designed to enable resource definition and metallurgical test work of produced ore.

Stage II, targeted for the September quarter of 2019, would aim to finalise a development plan for the project, decide upon the approach to engineering, secure permitting and negotiate with Gecamines.

A third stage, dubbed stage III, would involve the securing of funds and mobilisation of contractors as development activities start in the December 2019 financial quarter.

The final stage in the Kasombo development plan, stage IV, has been pencilled in for March quarter 2020 and would involve first production, concentrate sales and the firm-up of offtake or production take agreements.

FEL envisages processing Kasombo ore at Kipushi project where an expected processing plant is to process stockpiled ore from Kipushi tailings.

Where are Fe Limited’s acquisition projects?

In Western Australia FEL is acquiring two lithium projects that had been held by Queensland mineral exploration and mining services Mercury Resources Group Pty Ltd.

Known as Pippingarra Lithium Project and Marble Bar Lithium Project, the projects are to be wholly-owned by FEL and cover about 360 square kilometres of the Pilbara region in northwest Australia.

Pippingarra covers 181 square kilometres and is just 27 kilometres southeast of the port town known locally as Hedland.

The tenements have similar geology and are adjacent to Andrew Forrest outfit Fortescue Metals Group Limited’s (ASX:FMG) (FRA:FVJ) (OTCMKTS:FSUGY) (OTCMKTS:FSUMF)’s potential lithium discovery at Tabba Tabba.

FEL had completed 87.5% of a $400,000 capital raising connected to its full acquisition by March 29, 2019, with a remaining $50,000 or 12.5% sum outstanding by April 29, 2019.

Where are Fe Limited’s other assets in WA?

Another series of assets for FEL are in Western Australia’s Bryah Basin and are held in a joint venture with another Western Australian company, partner Auris Minerals Ltd (ASX:AUR).

West Perth-based Auris holds an 80% stake to FEL’s 20%, in the JV that has 12 tenements and prospects over 802 square kilometres of the basin.

FEL keeps its stake in its wholly-owned subsidiary Jackson Minerals Pty Ltd.

Large company Sandfire Resources NL (ASX:SFR) (FRA:S2Z) wants to grab more resources for its De Grussa operation and has been spending $33 million on drilling in and around the Auris-Jackson-FEL tenements.

Sandfire can farm into a stake of the partners’ Morck Well project by spending $2 million there over a 2-year period.

Yesterday, Auris issued a diamond drilling update for it and FEL’s Forrest and Wodger prospects after receiving back assays following 1,302.6 metres of drilling at the prospects where visible copper was seen in assays drilled up.

Significant interceptions at Forrest and Wodger reported included 3.72 metres at Forrest grading 0.97% copper and 0.11 g/t gold from 123.0 metres, including 0.25 metres at 3.23% copper and 0.43 g/t gold from 124 metres and 0.25 metres at 2.70% copper and 0.27 g/t gold from 125.2 metres.

The best result at Forrest prospect was 8.5 metres at 1.06% copper and 0.42 g/t gold from 382 metres, including 4 metres at 1.59% copper and 0.09 g/t gold, and 1-metre at 1.55% copper and 3.33 g/t gold.

The best result at Wodger was 1.8 metres at 1.73% copper from 335 metres, including 0.2 metres at 9.62% copper and 0.10 g/t gold.

Inflection points

Ongoing financial reporting and project updates, such as upcoming quarterly activities and cashflow report expected by end of April 2019

Full acquisition of Mercury projects in the Pilbara region

Milestone setting for Mercury acquisitions Pippingarra and Marble Bar lithium projects

Resource definition work at joint venture initiatives such as the Auris-FEL Forrest-Wodger prospects and FEL-Soludo Lambert Kasombo project

Start to Kasombo drilling, resource definition and metallurgical test work program

Advancement of Kasombo through successive development stages to first production targeted for March quarter 2019

Tony Sage highlights value in Fe Limited’s project portfolio

“We are very excited about (Marble Bar Lithium) Project, especially considering the surrounding lithium deposits which has made this region one of the hottest in the electronic battery space,” FEL chairman Tony Sage said in February 2019 of one of two projects the company is picking up.

Sage chatted to Proactive Investors about the company’s other assets in late October 2018, highlighting “Sandfire is running out of ore and within two years would have to shut the DeGrussa plant (in WA) if no more is found, so they need another major discovery in the area.

“They believe the ground that FEL holds in partnership with Auris is where they’ll find that ore.”

Sage also spoke to Proactive’s Stocktube video channel about the company’s Kasombo project in August last year, saying: “We found a fantastic project in the DRC called Kasombo and we’ve had some excellent copper results and minor cobalt results in that so far.”

 

]]>
Mon, 29 Apr 2019 01:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219219/fe-limited-holds-drc-and-bryah-basin-battery-metals-assets-and-is-picking-up-pilbara-ground-219219.html
<![CDATA[News - Fe Limited confirms receipt of commitments for $400,000 share placement ]]> https://www.proactiveinvestors.com.au/companies/news/217488/fe-limited-confirms-receipt-of-commitments-for-400000-share-placement-217488.html Fe Limited (ASX:FEL) has made further progress with respect to the acquisition of the Pippingarra Lithium Project and the Marble Bar Lithium Project from Mercury Resources Group Pty Ltd.

Pursuant to the terms of the acquisition agreement, FEL is required to complete a capital raising of $400,000 through the issue of shares at 2 cents each to persons nominated by Mercury.

Mercury has now informed FEL that it has received commitments in respect to this placement.

READ: Fe Limited to acquire highly prospective lithium projects in Pilbara region

FEL will proceed to issue the placement shares upon receipt of funds.

The placement shares will have one unlisted option for every two shares issued at an exercise price of 3 cents each expiring 2 years from the date of issue.

Pippingarra Lithium Project

The Pippingarra Lithium and Tantalite project consists of two granted exploration licences covering 181 square kilometres strategically located 27 kilometres southeast of Port Hedland.

The tenements share similar geology and are adjacent to the recent potential lithium discovery by Fortescue Metals Group (ASX:FMG) at Tabba.

Marble Bar Lithium Project

The Marble Bar Lithium Project consists of four granted exploration licences east of Marble Bar in the East Pilbara region.

The previous sampling at Marble Bar has returned assays as high as 3.72% lithium oxide, with an average of 1.85% lithium oxide.

]]>
Fri, 29 Mar 2019 16:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217488/fe-limited-confirms-receipt-of-commitments-for-400000-share-placement-217488.html
<![CDATA[News - Fe Limited partner’s drilling intersects visible primary copper in Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/217374/fe-limited-partners-drilling-intersects-visible-primary-copper-in-bryah-basin-217374.html Fe Limited’s (ASX:FEL) partner Auris Minerals Ltd (ASX:AUR) has intersected visible primary copper mineralisation in diamond drilling at the Forrest prospect in the Bryah Basin of Western Australia.

The project is held 20% by FEL and 80% by Auris.

Bornite mineralisation (dark blue) within quartz-carbonate veining (white) hosted by foliated ultramafic rock (green)

Auris exploration manager Matthew Svensson said: “The company is extremely excited to have intercepted primary copper sulphide mineralisation.

“This extends the footprint of known mineralisation, the extent of which remains open along strike and at depth.”

Auris shares opened more than 20% higher at 3.5 cents.

READ: Fe Limited partner reveals more copper and gold in Bryah Basin, Auris surges 70%

The drill rig is mobilising to the nearby Wodger prospect to drill one diamond hole aimed at laterally extend mineralisation to the north and to drill a diamond tail.

Drilling summary

A total of two diamond holes for 679.5 metres have been completed at Forrest and these have confirmed the existence of a northern down-plunge extension to known copper mineralisation.

Hole FPDD001, drilled to 231 metres depth, intersected 5 metres containing 10% malachite and chalcocite mineralisation from 125 metres associated with weathered, foliated ultramafic lithologies.

This hole tested the down plunge extension (120 metre step out) of copper mineralisation intersected in past drilling.

Hole FPDD002 intersected several zones of up to 5% bornite mineralisation associated with quartz carbonate and quartz veining.


Bornite and visible gold mineralisation in quartz-carbonate veins hosted by ultramafic rock in FPDD002

The hole has been cased with 50mm PVC so that downhole electromagnetic (EM) surveying can be completed.

Mineralised intersections of drill core are being orientated, geologically logged and sampled. Samples will be submitted for multi-element analysis at ALS laboratory soon.

Next steps

The diamond drilling at Wodger prospect will consist of a 440-metre hole designed to intercept copper mineralisation interpreted 120 metres down plunge.

A diamond tail for about 120 metres is also planned with the aim of intersecting a moving loop EM anomaly.

]]>
Thu, 28 Mar 2019 12:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217374/fe-limited-partners-drilling-intersects-visible-primary-copper-in-bryah-basin-217374.html
<![CDATA[News - Fe Limited to acquire highly prospective lithium projects in Pilbara region ]]> https://www.proactiveinvestors.com.au/companies/news/215129/fe-limited-to-acquire-highly-prospective-lithium-projects-in-pilbara-region-215129.html Fe Limited (ASX:FEL) has entered into an agreement to acquire the Pippingarra Lithium Project and the Marble Bar Lithium Project from Mercury Resources Group Pty Ltd.

The projects comprise over 360 square kilometres of highly prospective lithium tenements in the Pilbara region of Western Australia.

Project location

The Pilbara is one of the world’s leading hard rock lithium provinces following the discovery and development of mines at Pilgangoora by Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM).

FEL chairman Tony Sage said: “We are very excited about this project especially considering the surrounding lithium deposits which has made this region one of the hottest in the electronic battery space."

Pippingarra Lithium Project

The Pippingarra Lithium and Tantalite project consists of two granted exploration licences covering 181 square kilometres strategically located 27 kilometres southeast of Port Hedland.

The tenements share similar geology and are adjacent to the recent potential lithium discovery by Fortescue Metals Group (ASX:FMG) at Tabba.

Notably, the Pippingarra project is highly prospective for pegmatite hosted lithium and tantalite mineralisation.

There is no reported lithium exploration on these prospects even though the Pippingarra pegmatite is described as one of the largest granite-hosted mineralised pegmatites in the Pilbara.

Marble Bar Lithium Project

The Marble Bar Lithium Project consists of four granted exploration licences east of Marble Bar in the East Pilbara region.

The previous sampling at Marble Bar has returned assays as high as 3.72% lithium oxide, with an average of 1.85% lithium oxide.

Additionally, limited first pass drilling had identified encouraging results including best intercepts of 14 metres at 0.58% lithium oxide from surface including a high-grade interval of 3 metres at 1.48% lithium oxide from 8 metres.


Drilling at the Marble Bar Lithium Project

The majority of the Marble Bar project area remains underexplored.

Systematic exploration will be conducted to identify any additional lithium bearing pegmatites within the defined corridor and elsewhere in the project area.

Acquisition terms

The consideration payable for the acquisition includes 15 million ordinary FEL shares, 15 million FEL options, a 1% net smelter royalty and $200,000 in cash payable in instalments.

FEL shares with a total value of $250,000 will be issued to the vendor upon FEL announcing a JORC resource of 50 million tonnes at 1% lithium oxide within 24 months from completion.

The company is planning a comprehensive exploration program to commence immediately after the transaction is completed.

$400,000 placement

FEL has received firm commitments for a placement to raise $400,000 through the issue of fully paid ordinary shares at an issue price of 2 cents per share, with one unlisted option for every two placement shares.

]]>
Fri, 22 Feb 2019 20:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215129/fe-limited-to-acquire-highly-prospective-lithium-projects-in-pilbara-region-215129.html
<![CDATA[News - Fe Limited partner reveals more copper and gold in Bryah Basin, Auris surges 70% ]]> https://www.proactiveinvestors.com.au/companies/news/213858/fe-limited-partner-reveals-more-copper-and-gold-in-bryah-basin-auris-surges-70-213858.html Fe Limited (ASX:FEL) has received high-grade copper and gold drill results from reverse circulation (RC) drilling at its 20%-owned Forrest and Wodger prospects within the Bryah Basin in Western Australia.

Highlights include 33 metres at 1.25% copper at Forrest and 15 metres at 3.36% copper and 1.86 g/t gold at Wodger.

Follow-up exploration is being planned which includes downhole electromagnetic surveys and additional drilling.

Results add to Bryah Basin interest

FEL chairman Tony Sage said FEL was very upbeat about the latest results, which added to the considerable interest being shown in the Bryah Basin, including by Sandfire Resources NL (ASX:SFR).

The company has a 20% free-carried interest in 12 Bryah Basin tenements until a decision to mine.

READ: Fe Limited JV partners continue to define new copper-gold targets in the Bryah Basin

Auris Minerals Limited’s (ASX:AUR) recently completed drilling at Forrest is the first drilling at the prospect for four years.

Sage is particularly encouraged by the response to the results from Auris shareholders, with that company’s stocks rising 70% to 5.1 cents.

Drilling was designed to provide further information down dip from previously including 9 metres at 5.00% copper and 1.91g/t gold from 142.4 metres.

Highlights from the seven RC holes drilled at Forrest include 33 metres at 1.25% copper from 276 metres, 4 metres at 6.33 g/t gold from 12 metres and 12 metres at 4.26 g/t gold from 36 metres.

Results have expanded the scope of the mineralised system, which is open to the north.

Downhole electromagnetics is now being planned for two of the recently drilled holes.

Wodger’s geology similar to Forrest

Wodger is 3 kilometres from Forrest and drilling continues to expand the potential between the two prospects.

Ten RC holes drilled at Wodger in late 2018 were designed to further define and extend mineralisation identified to date.

Highlights included 15 metres at 3.36% copper and 1.86 g/t gold from 107 metres and 6 metres at 2.8% copper and 1.51 g/t gold from 305 metres.

3-kilometre area between Wodger and Forrest yet to be drill-tested

Additional drilling is planned to the north to follow-up on high-grade mineralisation along with further drilling to evaluate highly anomalous results from recent aircore drilling along strike to the north.

Further evaluation is also planned of the prospective contact to the south toward Forrest, which has not been targeted correctly-to-date.

]]>
Mon, 04 Feb 2019 14:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213858/fe-limited-partner-reveals-more-copper-and-gold-in-bryah-basin-auris-surges-70-213858.html
<![CDATA[News - Fe Limited expects results from highly prospective Bryah Basin JV ground, in trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/213671/fe-limited-expects-results-from-highly-prospective-bryah-basin-jv-ground-in-trading-halt-213671.html Fe Limited (ASX:FEL) is awaiting results from drilling completed by partner Auris Minerals Limited (ASX:AUR) at the Wodger and Forrest prospects in WA’s prolific Bryah Basin.

Accordingly, the company, which has a significant 20% interest in the highly prospective ground, has been granted a trading halt by the ASX until the results are released.

The halt will remain in place until that start of normal trading on Monday, February 4, 2019, or until an announcement is released, whichever occurs earliest.

READ: Fe Limited JV partners continue to define new copper-gold targets in the Bryah Basin

This halt coincides with a halt granted to Auris owing to highly anticipated drilling results from recent reverse circulation drilling at Wodger.

FEL, whose shares last traded at 1.8 cents, has a 20% free-carried interest in 12 Bryah Basin tenements until a decision to mine.

These tenements cover an area of 802 square kilometres with most interest centred on those held in JV with Auris.

READ: Fe Limited awaits partner’s assays from further drilling in Bryah Basin

There were 17 reverse circulation holes for 3,924 metres completed last year at the Wodger and Forrest prospects targeting several open-ended zones of high-grade mineralisation.

The aim of the program was to prove geological and grade continuity within and between sections as well as to confirm the dip and plunge of mineralisation.

READ: Fe Limited advances copper-cobalt in DRC and is leveraged to highly prospective ground in WA

FEL also has a 20% interest in ground held by Alchemy Resources Ltd (ASX:ALY).

The Bryah Basin is emerging as a highly prospective and largely under-explored mineral field with potential for further discovery of gold and base metals.

Sandfire’s Bryah Basin interests

For this reason, it is attracting strong interest, including from Sandfire Resources NL (ASX:SFR) which has the DeGrussa Copper-Gold Mine and is seeking further resources in the region to increase mine life.

The producer and explorer has stepped up exploration on its own ground as well as at a number of joint ventures, including those in which FEL has an interest.

Sandfire announced last August that it would acquire base metals farm-in rights held by Independence Group Ltd (ASX:IGO) in the Alchemy JV ground.

With the AUR and FEL ground, Sandfire has a farm-in and joint venture where it can earn an interest by completing a minimum spend of $2 million on exploration over two years.

]]>
Thu, 31 Jan 2019 15:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213671/fe-limited-expects-results-from-highly-prospective-bryah-basin-jv-ground-in-trading-halt-213671.html
<![CDATA[News - Fe Limited awaits partner’s assays from further drilling in Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/211700/fe-limited-awaits-partners-assays-from-further-drilling-in-bryah-basin-211700.html Fe Limited (ASX:FEL) is awaiting assay results from exploration partner Auris Minerals Limited (ASX:AUR) following a drilling program in the copper-gold prolific Bryah Basin of Western Australia.

Seventeen reverse circulation holes for 3,924 metres have been completed at the Wodger and Forrest prospects in which FEL has a 20% free carried interest until a decision to mine.

Assay results expected

Several open-ended zones of high-grade mineralisation were targeted and assay results are expected early in the new year.

The aim of the program was to prove geological and grade continuity within and between sections as well as to confirm the dip and plunge of mineralisation.

READ: Fe Limited JV partners continue to define new copper-gold targets in the Bryah Basin

There has been strong interest shown by the industry in increased exploration within the highly prospective Bryah Basin, in which FEL has a number of joint venture interests.

This region is emerging as a highly prospective and largely under-explored mineral field with potential for further discovery of gold and base metals, a fact recognised by Sandfire Resources NL (ASX:SFR).

Sandfire seeks further resources

Sandfire has the DeGrussa Copper-Gold Mine and is actively seeking further resources in the region to increase mine life.

In this regard, it has stepped up exploration on its own ground as well as at a number of joint ventures.

FEL has a 20% interest in 12 tenements covering an area of 802 square kilometres in the Bryah Basin with most interest centred on tenements held in JV with Auris, including the Morck Well project.

Sandfire has a farm-in and joint venture with FEL and AUR where it can earn an interest in Morck Well by completing a minimum spend of $2 million on exploration over two years.

“Extremely exciting area”

FEL’s executive chairman Tony Sage said that the basin had become an “extremely exciting area as evidenced by Sandfire spending $33 million on drilling in and around our projects”.

He said Sandfire’s managing director and CEO was on the record as saying that this was the most exciting exploration ground he had seen in many years.

FEL also has a 20% interest in ground held by Alchemy Resources Ltd (ASX:ALY) in which Sandfire announced in August that it would acquire base metals farm-in rights held by Independence Group Ltd (ASX:IGO).

READ: Fe Limited’s partner begin next phase of drilling copper prospects in the Bryah Basin

At the Woodger prospect, 10 holes were drilled for 2,182 metres with malachite logged in five holes at the expected target depths.

There were seven holes drilled at Forrest for 1,742 metres with malachite logged in three holes at the expected target depths.

Following the latest drilling at Wodger and Forrest detailed geological interpretations are underway.

Downhole EM surveys are planned in 2019 for two of the holes at Forrest and for one hole at Wodger when it is completed.

]]>
Mon, 24 Dec 2018 13:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211700/fe-limited-awaits-partners-assays-from-further-drilling-in-bryah-basin-211700.html
<![CDATA[News - Fe Limited JV partners continue to define new copper-gold targets in the Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/210534/fe-limited-jv-partners-continue-to-define-new-copper-gold-targets-in-the-bryah-basin-210534.html Fe Limited (ASX:FEL) and partner Auris Minerals Ltd (ASX:AUR) have defined three additional exploration targets between the Wodger and Big Billy prospects in the Bryah Basin of Western Australia.

FEL holds a 20% interest in all minerals in five exploration licences within Auris’ Forrest project and will be free carried until a decision to mine.

In total, 83 aircore holes were drilled for 7,328 metres, highlighting three additional exploration targets for further focused work: Wodger North, Big Billy South and VTEM 12.

Aircore drill coverage of the interpreted Narracoota Formation. Recent holes are shown as pink triangles with newly defined target areas in red.

Further aircore drilling is planned to better test the mineralisation and upper contact in detail within these areas of interest.

Wodger North

At the northern end of the Wodger Prospect, four holes reported anomalous copper values, including:

• 4 metres at 0.18% copper from 56 metres;
• 14 metres at 0.29% copper from 28 metres;
• 8 metres at 0.13% copper from 24 metres, 12 metres at 0.52% copper from 36 metres, 8 metres at 0.12% copper from 68 metres, and
• 4 metres at 0.22% copper from 64 metres.

These holes demonstrate that the near-surface copper anomaly at Wodger extends further north than recognised before, and more importantly, that it extends to the west of what was previously interpreted to be the northern extremity of Wodger.

READ: Fe Limited advances copper-cobalt in DRC and is leveraged to highly prospective ground in WA

The best mineralisation intersected to date appears to be associated with a lithological contact at the top of the Narracoota Formation.

Further work is required to confirm the nature of this contact - which is one aim of the current reverse circulation (RC) drilling program.

READ: Fe Limited’s partner begin next phase of drilling copper prospects in the Bryah Basin

More aircore drilling will be required to track the contact northwards, and further RC drilling may be required to test the contact once it is mapped.

Big Billy South

This is an additional area of interest identified immediately south of the Big Billy Prospect.

One hole reported anomalous copper result of 4 metres at 0.8% copper from 16 metres and four other holes reported anomalous gold, including 4 metres at 1.63 g/t gold from 24 metres and 8 metres at 1.02 g/t gold from 20 metres.

The main Big Billy Prospect is located at the same contact as Wodger North, between the Narracoota and Ravelstone Formations, and further work is required to fully understand the geology of this area and resolve a more defined target.

VTEM 12

The third area of interest is also located adjacent to a VTEM (versatile time domain electromagnetic) exploration target.

Only one aircore hole reported anomalous results at this locality but overlapping intervals were anomalous in both copper and gold.

Morck Well JV Project

FEL is also leveraged to the increased exploration activity of Sandfire Resources NL (ASX:SFR) in the Bryah Basin.

Sandfire's farm-in agreement with Auris and FEL in relation to their Morck Well JV Project (Auris 80%: Fe 20%), adds to the strong interest in the prolific Bryan Basin.

Sandfire has drilled two diamond holes at Morck Well with a third deep diamond hole being drilled now.

]]>
Wed, 05 Dec 2018 13:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210534/fe-limited-jv-partners-continue-to-define-new-copper-gold-targets-in-the-bryah-basin-210534.html
<![CDATA[News - Fe Limited’s partner begin next phase of drilling copper prospects in the Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/209508/fe-limiteds-partner-begin-next-phase-of-drilling-copper-prospects-in-the-bryah-basin-209508.html Fe Limited’s (ASX:FEL) partner Auris Minerals Ltd (ASX:AUR) has commenced the next phase of drilling at the Forrest and Wodger prospects in the Bryah Basin of Western Australia.

FEL holds a 20% interest in all minerals in five exploration licences within Auris’ Forrest project and will be free carried until a decision to mine.

Auris is planning to drill eight reverse circulation holes at Forrest and 10 holes at Wodger for 2,170 metres and 2,330 metres respectively, totalling 4,500 metres.

Induced polarisation (IP) imagery of the Forrest and Wodger Prospects

The aim of this drilling is to prove geological and grade continuity within and between sections and to confirm the dip and plunge of previously intersected mineralised zones, which remain open.

It is worth noting that recent analysis of historical drilling pulps revealed an intersection of 9 metres at 5.8% copper from 76 metres at the Forrest prospect.

The drilling is targeting several zones of potentially high-grade copper mineralisation.

READ: Fe Limited advances copper-cobalt in DRC and is leveraged to highly prospective ground in WA

Along with its highly prospective copper-gold ground in Western Australia’s Bryah Basin, FEL is advancing its Kasombo Cobalt-Copper Project in the DRC towards production in the first quarter of 2020.

The company has completed extensive mapping, sampling and preliminary drilling at Kasombo which has returned strong copper-cobalt results to date.

]]>
Tue, 20 Nov 2018 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209508/fe-limiteds-partner-begin-next-phase-of-drilling-copper-prospects-in-the-bryah-basin-209508.html
<![CDATA[News - Fe Limited advances copper-cobalt in DRC and is leveraged to highly prospective ground in WA ]]> https://www.proactiveinvestors.com.au/companies/news/208782/fe-limited-advances-copper-cobalt-in-drc-and-is-leveraged-to-highly-prospective-ground-in-wa-208782.html Fe Limited (ASX:FEL) is advancing its Kasombo Cobalt-Copper Project in the DRC towards production in the first quarter of 2020 but is also leveraged to highly prospective copper-gold ground in Western Australia’s Bryah Basin.

This region is emerging as a highly prospective and largely under-explored mineral field with potential for further discovery of gold and base metals, a fact recognised by Sandfire Resources NL (ASX:SFR).

Sandfire has the DeGrussa Copper-Gold Mine and is actively seeking further resources in the region to increase mine life.

Sandfire spending $33 million

In this regard, it has stepped up exploration on its own ground as well as at a number of joint ventures, of which FEL holds 20%.

FEL’s executive chairman Tony Sage told Proactive Investors that the Bryah Basin had become an “extremely exciting area as evidenced by Sandfire spending $33 million on drilling in and around our projects”.

He said Sandfire’s managing director and CEO was on the record as saying that this was the most exciting exploration ground he had seen in many years.

FEL, via wholly-owned subsidiary, Jackson Minerals Pty Ltd, has a 20% interest in 12 tenements covering an area of 802 square kilometres in the Bryah Basin.

READ: Fe Limited and partners continue to make significant progress at Morck Well Joint Venture

Most interest is centred on the tenements held in joint venture with Auris Minerals Ltd (ASX:AUR), including the Morck Well project.

Sandfire has a farm-in and joint venture with FEL and AUR where it can earn an interest in Morck Well by completing a minimum spend of $2 million on exploration over two years.

FEL also has a 20% interest in ground held by Alchemy Resources Ltd (ASX:ALY) in which Sandfire announced in August that it would acquire base metals farm-in rights held by Independence Group Ltd (ASX:IGO).

READ: Fe Limited leveraged to increased involvement by Sandfire in Bryah Basin

Sage said FEL was very excited about its interests in the Bryah Basin.

“Sandfire is running out of ore and within two years would have to shut the DeGrussa plant if no more is found, so they need another major discovery in the area. They believe the ground that FEL holds in partnership with Auris is where they’ll find that ore.

Sandfire is diamond drilling as we speak and if they manage to hit anything near their existing deposit at DeGrussa, then FEL’s interests will be much more valuable and these are yet to be reflected in the company’s share price.

There is a lot of excitement around, not only from Auris and ourselves but all the other players in the region.”

Drilling by Sandfire in the Bryah Basin.

The chairman explained that when Sandfire initially arranged the farm-in deal with AUR and FEL, its share price increased from around $8 to more than $9.

“A $1 increase in shares indicates how excited Sandfire shareholders were to pick up the ground.

A trading halt was put on Sandfire, which was indicative of how important this announcement was as the ASX generally does not allow companies to go into a trading halt for nothing.”

Upside for Fe Limited

Sage said it was a big announcement by a $1.5 billion company, and potentially valued the deal at around $250 million.

“If you put this valuation on that ground, the fair value of our shares will be much higher and should provide good upside to our current trading levels of 1.4 cents to 1.6 cents.”

READ: Fe Limited eyes potential for royalty boost after move by Mineral Resources

Fe Limited began with iron ore interests in WA, hence the name, and the company retains some interest in the sector through a 1.5% dry metric tonne, FOB royalty over two tenements.

Iron ore royalties

Sage said: “We were excited when Cleveland-Cliffs Inc’s (NYSE:CLF) subsidiary, Cliffs Asia Pacific Iron Ore Pty Ltd, sent us our first royalty cheque on the iron ore ground earlier this year.

“With Mineral Resources Ltd (ASX:MIN) taking over Cliffs’ Australian assets in June we don't know yet whether they will continue mining in that area. If they do, FEL will be earning - additional royalties - a great result for us.”

Focus on DRC

FE Limited’s major project is Kasombo from which its aims to begin producing in early 2020.

Kasombo is held by Soludo Lambert Mining SAS and is 25 kilometres from the DRC’s second largest city, Lubumbashi, in the Katanga Copper Belt of the DRC.

Soludo Lambert is a 50/50 joint venture company established between Congolese entity Paragon Mining SARL and Cape Lambert Resources Limited (ASX:CFE).

In November 2017, FEL completed the acquisition of Cape Lambert’s interests in the project.

The company has completed extensive mapping, sampling and preliminary drilling which has returned strong copper-cobalt results to date.

READ: Fe Limited confirms significant cobalt in trenching at Kasombo project

Most recently, broad elevated cobalt results were returned from trenching.

Sampling was completed from seven trenches for a total of 598 metres with 273 channel samples also taken across the mineralised strata of cobalt-rich Kasombo 7.

Cobalt assays from trenching include:

- 10 metres at 0.21% cobalt between 42 and 50 metres (horizontal); and - 12 metres at 0.23% cobalt between 17 and 26 metres (horizontal).

A Kasombo 7 rock sample returned a handheld XRF grade of greater than 21% cobalt.

The channel samples returned elevated cobalt grades particularly for a leached horizon, from two trenches in the expected targeted stratigraphic layers demonstrating the presence of cobalt. The mineralised horizons are also known to contain significant copper.

New drilling planned

Sage said, “We expect to follow up on those results with a new drilling program that will start after the end of the wet season, about March next year.

“The company is very encouraged by what has been found to date - there's not many cobalt projects in the world with these grades.

"If you had a copper hit of 24 metres at 3% with coincident cobalt grades up to 0.7% anywhere in Australia, as we have in our preliminary drill program results at Kasombo, the share price would quadruple but because it’s in the DRC and there’s a lot of copper there, the market just went ‘ho-hum’.”

Sage said “the market was more interested in the cobalt credits which were averaging around 0.15% - 0.2%.

"If you look at most of the deposits around the world where cobalt is produced, it is around 0.1 or 0.2% cobalt.

"This could be a very viable copper-cobalt mine, but we need to do a little bit more work on the ground.

“We will finalise our plans for Kasombo in the next two or three months during the wet season when work on the ground is restricted.”

Indicative timeline to production at Kasombo, subject to funding and results achieved, based on processing Kasombo ore through the Kipushi processing plant (currently in development).

]]>
Thu, 08 Nov 2018 09:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208782/fe-limited-advances-copper-cobalt-in-drc-and-is-leveraged-to-highly-prospective-ground-in-wa-208782.html
<![CDATA[News - Fe Limited leveraged to exploration upside at Forrest Project ]]> https://www.proactiveinvestors.com.au/companies/news/206736/fe-limited-leveraged-to-exploration-upside-at-forrest-project-206736.html Fe Limited (ASX:FEL) has a 20% free carried interest until a decision to mine alongside partner Auris Minerals Ltd (ASX:AUR) at the Forrest Project in the Bryah Basin of Western Australia.

Auris has recently completed an 83-hole, 7,328-metre aircore drill program along the prospective strike between the Wodger and Big Billy prospects.

Assays remain pending while further exploration is planned including a reverse circulation (RC) drill program at the Wodger prospect this quarter.

READ: Fe Limited set to benefit from copper gold drill program

Follow-up gradient array induced polarisation (IP) surveys are due to start next week at both the Wodger and Forrest prospects.

These surveys will target disseminated mineralisation, as has been intersected in drill holes at both prospects.

The aim is to recognise similar mineralisation, which could prove to be a useful vector towards higher-grade massive sulphides.

]]>
Wed, 10 Oct 2018 13:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206736/fe-limited-leveraged-to-exploration-upside-at-forrest-project-206736.html
<![CDATA[News - Fe Limited set to benefit from copper gold drill program ]]> https://www.proactiveinvestors.com.au/companies/news/204974/fe-limited-set-to-benefit-from-copper-gold-drill-program-204974.html Fe Limited’s (ASX:FEL)  partner Auris Minerals Ltd (ASX:AUR) has commenced a 7,500-metre aircore drilling program at the Forrest Project in the Bryah Basin of Western Australia.

The 140-150 hole program is targeting copper-gold mineralisation commencing at the Wodger prospect.

Drilling aims to test 6 kilometres of prospective strike between the Wodger and Big Billy prospects.

READ: Fe Limited a leading ASX gainer as shares increase 35%

Auris’ COO Mike Hendriks said: “We are very pleased to have commenced this aircore drilling program, as it is an important step towards establishing a much more detailed geological understanding of our exciting Forrest Project area.

“Following a detailed review of the recently completed geological interpretations of the Forrest Project area, the company now has a clear intention to systematically test the potential 6 kilometre strike identified between the Wodger and Big Billy Prospects and we look forward to providing updates on this program as first results are received.”

READ: Fe Limited confirms high-grade cobalt in trenching at flagship Kasombo project

Fe Limited’s flagship project is the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

Recently, broad high-grade cobalt and copper results were received from trenching at Kasombo including 12 metres at 0.23% cobalt.

Sampling was completed from seven trenches for a total of 598 metres and 273 channel samples across the mineralised strata of cobalt-rich Kasombo 7.

]]>
Mon, 17 Sep 2018 10:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204974/fe-limited-set-to-benefit-from-copper-gold-drill-program-204974.html
<![CDATA[News - Fe Limited a leading ASX gainer as shares increase 35% ]]> https://www.proactiveinvestors.com.au/companies/news/203755/fe-limited-a-leading-asx-gainer-as-shares-increase-35-203755.html Fe Limited (ASX:FEL) is a leading ASX gainer today, up 35% to 2.3 cents from Tuesday’s close of 1.7 cents.

The company has had recent encouraging news from its flagship Kasombo Copper-Cobalt Project in the Democratic Republic of Congo and from its Western Australian interests.

READ: Fe Limited confirms high-grade cobalt in trenching at flagship Kasombo project

Broad high-grade cobalt and copper results have been received from trenching at Kasombo.

Sampling was completed from seven trenches for a total of 598 metres and 273 channel samples across the mineralised strata of cobalt-rich Kasombo 7.

 

Chairman Tony Sage said: “We are very excited by these results and will now plan a targeted drilling program on both Kasombo 5 and Kasombo 7 to further investigate the size of the great copper results and follow up on the good cobalt results.”

Notably, good cobalt assays were returned from trenches, including:

• 10 metres at 0.21% cobalt between 42 and 50 metres; and

• 12 metres at 0.23% cobalt between 17 and 26 metres.

READ: Fe Limited leveraged to increased involvement by Sandfire in Bryah Basin

In Western Australia’s Bryah Basin, Fe Limited looks set to benefit from increased activity by Sandfire Resources NL (ASX:SFR), through its various joint ventures in the area.

Sandfire has stepped up its involvement in the prolific basin by purchasing the farm-in rights held by Independence Group NL (ASX:IGO) in the Bryah Basin Project.

The agreement covers tenements that are 100% held by Alchemy Resources Limited (ASX:ALY) as well as those held 80% by Alchemy and 20% by Fe Limited subsidiary Jackson Minerals Pty Ltd.

]]>
Wed, 29 Aug 2018 16:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203755/fe-limited-a-leading-asx-gainer-as-shares-increase-35-203755.html
<![CDATA[News - Fe Limited confirms high-grade cobalt in trenching at flagship Kasombo project ]]> https://www.proactiveinvestors.com.au/companies/news/203445/fe-limited-confirms-high-grade-cobalt-in-trenching-at-flagship-kasombo-project-203445.html Fe Limited (ASX:FEL) has received broad high-grade cobalt results from trenching at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

Sampling was completed from seven trenches for a total of 598 metres and 273 channel samples across the mineralised strata of cobalt-rich Kasombo 7.

 

FEL chairman Tony Sage said: “We are very excited by these results and will now plan a targeted drilling program on both Kasombo 5 and Kasombo 7 to further investigate the size of the great copper results and follow up on the good cobalt results.”

Notably, good cobalt assays were returned from trenches, including:
• 10 metres at 0.21% cobalt between 42 and 50 metres; and
• 12 metres at 0.23% cobalt between 17 and 26 metres.

Trenches completed at the Kasombo project

The channel samples returned good cobalt grades from two trenches at the expected targeted stratigraphic sequence.

The 600-hectare Kasombo project comprises three mineralised areas, Kasombo 5, 6 and 7, within two granted mining licences, which are held by La Generale Des Carrieres Et Des Mines S.A.

Kasombo location map

READ: Fe Limited leveraged to increased involvement by Sandfire in Bryah Basin

In Western Australia's Bryah Basin, Fe Limited looks set to benefit from increased activity by Sandfire Resources NL (ASX:SFR), through its various joint ventures in the area.

Sandfire has stepped up its involvement in the prolific basin by purchasing the farm-in rights held by Independence Group NL (ASX:IGO) in the Bryah Basin Project.

The agreement covers tenements that are 100% held by Alchemy Resources Limited (ASX:ALY) as well as those held 80% by Alchemy and 20% by Fe Limited subsidiary Jackson Minerals Pty Ltd.

]]>
Thu, 23 Aug 2018 14:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203445/fe-limited-confirms-high-grade-cobalt-in-trenching-at-flagship-kasombo-project-203445.html
<![CDATA[Media files - Fe Limited pursuing DRC cobalt strategy with new flagship Kasombo Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10214/fe-limited-pursuing-drc-cobalt-strategy-with-new-flagship-kasombo-project-10214.html Thu, 23 Aug 2018 10:44:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10214/fe-limited-pursuing-drc-cobalt-strategy-with-new-flagship-kasombo-project-10214.html <![CDATA[News - Fe Limited leveraged to increased involvement by Sandfire in Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/202799/fe-limited-leveraged-to-increased-involvement-by-sandfire-in-bryah-basin-202799.html Fe Limited (ASX:FEL) is set to benefit directly and indirectly from the acquisition by active Bryah Basin miner and explorer Sandfire Resources NL (ASX:SFR) to acquire further farm-in rights to base metals.

Sandfire has stepped up its involvement in the prolific basin by purchasing the farm-in rights held by Independence Group NL (ASX:IGO) in the Bryah Basin Project.

The agreement covers tenements that are 100% held by Alchemy Resources Limited (ASX:ALY) as well as those held 80% by Alchemy and 20% by Fe Limited subsidiary Jackson Minerals Pty Ltd.

Fe shares increased 10% intra-day to 2.2 cents.

“Win-win” for Fe Limited

Fe chairman Tony Sage said the increased Sandfire involvement in the Bryah Basin was a win-win for the company.

Not only would the agreement directly benefit Fe Limited’s stake in the Bryah Basin Project, he said, but it would also indirectly flow on to the company’s other interests in the region.

“This is an encouraging development as it will mean a significant ramp-up of exploration on tenements that have strong base metals potential.

“Sandfire has the means and incentive to realise this potential and for any discoveries made, Fe Limited is 20% free carried to a decision to mine,” he said.

READ: Fe Limited chairman Tony Sage demonstrates confidence in company through share acquisition

If Jackson Minerals elects not to contribute to any resulting mining activities, it must sell its interest or convert to a $10 per recovered ounce of gold royalty and copper.

The agreement covers 60 strike kilometres of prospective stratigraphy within the Bryah Basin Project.

The Alchemy-Sandfire farm-in tenements in the Bryah Basin Project.

Sandfire can earn an 80% interest in Alchemy’s 100% held tenements and 70% in the joint tenements by sole funding $3.1 million on exploration over 15 months.

The Deed of Covenant - Letter Agreement covers all commodities, except iron ore.

DeGrussa operations nearby

Should a high-value base metal discovery be made, Sandfire’s processing facilities at the DeGrussa operation, which is just 30 kilometres to the northeast, could be a critical component towards a positive feasibility study.

Sandfire intends to combine its extensive local geological, geophysical and geochemical knowledge gained from exploring and mining the DeGrussa ore body with the work completed by IGO to define base metal targets within the farm-in tenements.

IGO has completed detailed surface electromagnetic work over the strike extensive highly prospective Narracoota/Karalundi Formation contact zone.

READ: Fe Limited and partners continue to make significant progress at Morck Well Joint Venture

Sage said increased Sandfire activity in the basin would add to the significance of results from the nearby Morck Well Joint Venture of Auris Minerals Ltd (ASX:AUR) and Fe Limited, which holds 20%.

Sandfire is farming into Morck Well with the right to earn a 70% interest in the project area, which is 22 kilometres from DeGrussa.

There has been one diamond core hole and three reverse circulation holes drilled by Sandfire following the intersection of highly encouraging mineralisation from aircore drilling in May 2018.

READ: Fe Limited's farm-in partner Sandfire Resources NL hits high-grade copper

The Morck Well partners are awaiting assays from this program but the sedimentary package intersected is considered to be highly prospective.
Sandfire’s aggressive exploration approach of systematic aircore drilling will be further enhanced by Moving Loop Electromagnetic (MLEM) surveying across the prospective sequence.

]]>
Tue, 14 Aug 2018 11:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202799/fe-limited-leveraged-to-increased-involvement-by-sandfire-in-bryah-basin-202799.html
<![CDATA[News - Fe Limited chairman Tony Sage demonstrates confidence in company through share acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/202334/fe-limited-chairman-tony-sage-demonstrates-confidence-in-company-through-share-acquisition-202334.html Fe Limited (ASX:FEL) chairman Tony Sage has shown great confidence in the company’s DRC cobalt project and in ongoing drilling at interests in Western Australia by acquiring further shares.

The chairman has acquired another 2.5 million shares in FEL, taking his total to more than 6.423 million, which is equivalent to a 1.73% stake.

These shares were acquired in an off-market transaction valued at $50,000.

Kasombo cobalt project progress

At the Kasombo Cobalt Project in the DRC, FEL is interpreting the results of a ground magnetics survey of the area carried out by the Department of Geology from the University of Lubumbashi.

There were 12 lines of survey of around 1.2 kilometres each and equidistant of 400 metres oriented north-south, for a cumulative length of 20.2 kilometres.

This work forms part of preparations for a proposed 5,000-metre drilling program covering the Kasombo 5 and Kasombo 7 prospects.

Trenching program

During the June quarter, a local consulting geology company undertook a trenching program totalling 617 metres over seven trenches.

A total of 289 samples were collected with analysis ongoing.

Typical mines series sequences found in known Kasombo ore bodies were observed.

READ: Fe Limited and partners continue to make significant progress at Morck Well Joint Venture

At the Morck Well Joint Venture in the Bryah Basin of central Western Australia, in which FEL holds 20%, Sandfire Resources NL (ASX:SFR) has completed follow-up drilling.

One diamond core hole and three reverse circulation holes have been drilled by Sandfire following the intersection of highly encouraging mineralisation from aircore drilling in May 2018.

The full set of assays from the recently completed program are yet to be received but the sedimentary package intersected is considered to be highly prospective.

Sandfire’s aggressive exploration

Sandfire, which is farming into the project, has adopted an aggressive exploration strategy.

This includes systematic aircore drilling enhanced by Moving Loop Electromagnetic (MLEM) surveying across the entire prospective sequence.

The latest MLEM survey is underway as an additional targeting tool for future drilling.

READ: Fe Limited eyes potential for royalty boost after move by Mineral Resources

FEL is also benefiting from royalty interests in Western Australia which have potential to boost company coffers by around $2 million a year.

]]>
Tue, 07 Aug 2018 14:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202334/fe-limited-chairman-tony-sage-demonstrates-confidence-in-company-through-share-acquisition-202334.html
<![CDATA[News - Fe Limited and partners continue to make significant progress at Morck Well Joint Venture ]]> https://www.proactiveinvestors.com.au/companies/news/201200/fe-limited-and-partners-continue-to-make-significant-progress-at-morck-well-joint-venture-201200.html Fe Limited’s (ASX:FEL) farm-in partner Sandfire Resources NL (ASX:SFR) has completed follow-up drilling at the Morck Well Joint Venture in the Bryah Basin of central Western Australia.

The Morck Well Copper Project is jointly owned by Auris Minerals Ltd (ASX:AUR) (80%) and Fe Limited (20%).

Sandfire is farming into Morck Well with the right to earn a 70% interest in the project area.

There has been one diamond core hole and three reverse circulation holes drilled by Sandfire following the intersection of highly encouraging mineralisation from aircore drilling in May 2018.

READ: Fe Limited and partners receive encouraging copper drilling results from Morck Well Project

Whilst the full set of assays from the recently completed follow-up program are yet to be received, the sedimentary package intersected in the latest drilling is considered to be highly prospective.

Furthermore, Sandfire’s aggressive exploration approach of systematic aircore drilling will be further enhanced by Moving Loop Electromagnetic (MLEM) surveying across the entire prospective sequence through the Morck Well area.

The MLEM survey has now commenced, as an additional targeting tool.

Native copper obtained from drilling.

Systematic exploration across the remainder of the Morck Well project area is continuing and further updates on drilling assays and geophysical surveying will be reported in due course.

Auris chief operating officer Mike Hendriks said: “We continue to be encouraged by the progress being made to date at our Morck Well JV – with the recent round of follow-up drilling further underlining the highly prospective nature of this area.

“Sandfire Resources are continuing to advance exploration activities within the Morck Well area and we look forward to reporting on results from future aircore drilling and the MLEM geophysical surveying in due course.”

]]>
Fri, 20 Jul 2018 15:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201200/fe-limited-and-partners-continue-to-make-significant-progress-at-morck-well-joint-venture-201200.html
<![CDATA[News - Fe Limited eyes potential for royalty boost after move by Mineral Resources ]]> https://www.proactiveinvestors.com.au/companies/news/198985/fe-limited-eyes-potential-for-royalty-boost-after-move-by-mineral-resources-198985.html Fe Limited (ASX:FEL) could be set to benefit from Mineral Resources Ltd's (ASX:MIN) plan to buy Cliffs Asia Pacific Iron Ore's assets in the Yilgarn region of Western Australia.

The three billion capped Mineral Resources has entered into a definitive agreement with Cleveland-Cliffs Inc. (NYSE:CLF) to acquire the assets that were used by its wholly-owned subsidiary, Cliffs Asia Pacific Iron Ore Pty Ltd, to run its Koolyanobbing iron ore operation.

Where Fe Limited fits in is that it receives royalties in relation to mining conducted by Cliffs Asia Pacific Iron Ore Pty Ltd at its Deception iron ore mine on Cliffs M77/1259.

Previously, Cliffs made the decision to move out of Australia and therefore was mining suspended at Deception Hill, and the royalty stopped.

Now Fe Limited are hopeful that mining will recommence and its royalty stream starts again.

Royalty details

Fe Limited holds a 1.5% dry metric tonne, FOB royalty over two tenements (E77/1322 and M77/1259) within the Evanston Project, registered to Black Oak Minerals Limited.

Cliffs Asia Pacific Iron Ore Pty Ltd previously held these tenements but sold them to Black Oak and provided a Deed of Assignment and Assumption pursuant to the Evanston Iron Ore Rights Deed to Fe Limited assigning the obligation to pay the associated royalty from Cliffs to BOK.

The tenements are 20 kilometres north of the Windarling mine.

Exposure to exploration success near DeGrussa

Fe Limited has exposure to drilling in the Bryah Basin region of Western Australia.

Sandfire Resources NL (ASX:SFR) is involved in a farm-in with Auris Minerals Ltd (ASX:AUR) and Fe Limited at the Morck’s Well Project.

READ: Fe Limited's farm-in partner Sandfire Resources NL hits high-grade copper ]]>
Mon, 18 Jun 2018 10:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198985/fe-limited-eyes-potential-for-royalty-boost-after-move-by-mineral-resources-198985.html
<![CDATA[News - Fe Limited's farm-in partner Sandfire Resources NL hits high-grade copper ]]> https://www.proactiveinvestors.com.au/companies/news/198318/fe-limited-s-farm-in-partner-sandfire-resources-nl-hits-high-grade-copper-198318.html Fe Limited's (ASX:FEL) partner Sandfire Resources NL (ASX:SFR) has now revealed air-core drilling results from the Morck’s Well Project, located just 22 kilometres from the DeGrussa Copper Mine in Western Australia.

Highlights include:

- 11 metres at 3.5% copper from 73 metres;
- 6 metres at 1.3% copper from 112 metres; and
- 9 metres at 2.3% copper from 146 metres.

While the high-grade intersections returned are narrow, Sandfire noted that the overall tenor and grade of the mineralisation encountered is encouraging and supports continued exploration along the corridor.

Reverse circulation drilling has now started.

Sandfire is involved in a farm-in with Auris Minerals Ltd (ASX:AUR) and Fe at the Morck’s Well.

Under the joint venture structure, Sandfire may earn a 70% interest in Morck’s from the definition of at least 50,000 tonnes of copper contained in a declared JORC Resource on which it completes a Feasibility Study.

Morck forms part of Sandfire’s Greater Doolgunna Project, comprising a package of 6,276 square kilometres of contiguous tenements surrounding the DeGrussa Copper Mine.

Fe's strategy in the Bryah Basin

Fe has interests in several highly prospective projects in the Bryah Basin with additional joint venture partners including Alchemy Resources Ltd (ASX:ALY), Independence Group NL (ASX:IGO), Westgold Resources Ltd (ASX:WGX) and Billabong Gold Pty Ltd.

These are all free-carried for Fe with no contributing responsibilities, until a decision to mine.

Fe Limited's also has interests in iron ore, which are starting to yield royalty payments.

READ: Fe Limited's royalty stream strategy targets $2 million per annum ]]>
Wed, 06 Jun 2018 10:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198318/fe-limited-s-farm-in-partner-sandfire-resources-nl-hits-high-grade-copper-198318.html
<![CDATA[News - Fe Limited's royalty stream strategy targets $2 million per annum as momentum grows ]]> https://www.proactiveinvestors.com.au/companies/news/198057/fe-limited-s-royalty-stream-strategy-targets-2-million-per-annum-as-momentum-grows-198057.html Fe Limited (ASX:FEL) has received a royalty payment of $41,901 in relation to mining conducted by Cliffs Asia Pacific Iron Ore Pty Ltd at its Deception iron ore mine on Cliffs’ M77/1259 during the March 2018 quarter.

Fe Limited, chaired by Tony Sage, has the potential to earn $2 million a year through royalties.

Royalty details

The company holds a 1.5% dry metric tonne, FOB royalty over two tenements (E77/1322 and M77/1259) within the Evanston Project, registered to Black Oak Minerals Limited.

Cliffs Asia Pacific Iron Ore Pty Ltd previously held these tenements but sold them to Black Oak and provided a Deed of Assignment and Assumption pursuant to the Evanston Iron Ore Rights Deed to Fe Limited assigning the obligation to pay the associated royalty from Cliffs to BOK.

The tenements are 20 kilometres north of the Windarling mine.

The Evanston Iron Ore Project is in the Southern Yilgarn Iron Province of Western Australia and covers an area of 167 square kilometres, of which E77/1322 and M77/1259 cover a combined area of 76.92 square kilometres.

Exposure to exploration success near DeGrussa

Fe Limited has exposure to drilling in the Bryah Basin region of Western Australia.

Sandfire Resources NL (ASX:SFR) is involved in a farm-in with Auris Minerals Ltd (ASX:AUR) and Fe Limited at the Morck’s Well Project.

READ: Fe Limited's joint venture partner reveals next exploration steps near DeGrussa ]]>
Fri, 01 Jun 2018 09:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198057/fe-limited-s-royalty-stream-strategy-targets-2-million-per-annum-as-momentum-grows-198057.html
<![CDATA[News - Fe Limited's joint venture partner reveals next exploration steps near DeGrussa ]]> https://www.proactiveinvestors.com.au/companies/news/197682/fe-limited-s-joint-venture-partner-reveals-next-exploration-steps-near-degrussa-197682.html Fe Limited (ASX:FEL) is set to increase news flow from one of Australia's most successful exploration post codes, the Bryah Basin region of Western Australia.

Sandfire Resources NL (ASX:SFR) is involved in a farm-in with Auris Minerals Ltd (ASX:AUR) and Fe at the Morck’s Well Project, located just 22 kilometres from the DeGrussa Copper Mine in Western Australia.

Sandfire has now commenced a reverse circulation drilling program at the project, while air-core drilling will remain ongoing.

Sandire's CEO Karl Simich said: "It’s very early days in terms of the exploration of what is essentially a new and completely untested VMS horizon at Morck’s Well.

"Our goal is to establish the potential for meaningful accumulations of massive sulphide mineralisation as quickly as we can."

The most effective way to do this is to use down-hole geophysics, which has the potential to identify conductive accumulations of sulphides.

Drilling plan

Reverse circulation drilling will provide further geological context and another deep platform for DHEM surveying.

An additional 59 air-core holes have been completed, with data used to inform the interpretation of the prospective sequence and provide first-pass geochemical information to aid targeting.

This will then be followed by additional reverse circulation and diamond drilling as a priority once all relevant permitting and approvals have been received.

Joint venture structure

Sandfire may earn a 70% interest in Morck’s from the definition of at least 50,000 tonnes of copper contained in a declared JORC Resource on which it completes a Feasibility Study.

Fe's strategy in the Bryah Basin

Fe has interests in several highly prospective projects in the Bryah Basin with additional joint venture partners including Alchemy Resources Ltd (ASX:ALY), Independence Group NL (ASX:IGO), Westgold Resources Ltd (ASX:WGX) and Billabong Gold Pty Ltd.

These are all free-carried for Fe with no contributing responsibilities, until a decision to mine.

]]>
Fri, 25 May 2018 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197682/fe-limited-s-joint-venture-partner-reveals-next-exploration-steps-near-degrussa-197682.html
<![CDATA[News - Fe Limited stands to gain as Sandfire begins more drilling ]]> https://www.proactiveinvestors.com.au/companies/news/197331/fe-limited-stands-to-gain-as-sandfire-begins-more-drilling-197331.html Fe Limited (ASX:FEL) is leveraged to any success from Sandifre’s new reverse circulation drill program that has commenced at the Morck’s Well project in Western Australia.

The Morck’s Well project is jointly owned by Auris Minerals (ASX:AUR) and Fe Limited.

Sandfire Resource NL (ASX:SFR) is farming into the project with the right to earn up to a 70% interest.

Sandfire looking for resources to feed nearby copper operation

Morck’s Well is 22 kilometres southwest of Sandfire’s 100%-owned DeGrussa Copper Mine.

Recent aircore drilling conducted by Sandfire intersected visible supergene copper mineralisation in the area.

Both aircore and reverse circulation drilling continues at Morck’s Well.

Targeting massive sulphide mineralisation

Sandfire’s managing director and CEO Karl Simich said: “It’s very early days in terms of the exploration of what is essentially a new and completely untested VMS horizon at Morck’s Well.

“Our goal is to establish the potential for meaningful accumulations of massive sulphide mineralisation as quickly as we can.

“The most effective way to do this is to use down-hole geophysics, which has the potential to identify conductive accumulations of sulphides within a broad radius of the drill hole, which can then be targeted with RC and diamond drilling.”

]]>
Mon, 21 May 2018 12:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197331/fe-limited-stands-to-gain-as-sandfire-begins-more-drilling-197331.html
<![CDATA[News - Fe Limited and partners receive encouraging copper drilling results from Morck’s Well Project ]]> https://www.proactiveinvestors.com.au/companies/news/196966/fe-limited-and-partners-receive-encouraging-copper-drilling-results-from-morcks-well-project-196966.html Fe Limited (ASX:FEL) and Auris Minerals’ (ASX:AUR) farm-in partner Sandfire Resources (ASX:SFR) has intersected copper mineralisation at the Morck’s Well Project in Western Australia.

Fe Limited’s share price increased 25% intra-day to 4 cents and was last trading at 3.4 cents, up 6%.

Auris shares fared even better, more than doubling its price to 11.5 cents intra-day and last trading at 9.9 cents or 74% higher.

The drilling intersected visible supergene copper mineralisation (native copper, malachite and chalcocite) from 72 metres to 73 metres and from 75 metres to 84 metres down-hole.

Another drill hole intersected visible sulphide copper mineralisation from 112 metres to 114 metres down-hole, including massive sulphides from 112 metres to 113 metres.

Aircore drilling samples from these and neighbouring holes are being sent for analysis.

Deep reverse circulation drilling to follow

The initial holes have clearly defined an area which will be intensively targeted by drilling and electromagnetic surveys to establish the potential for massive sulphide mineralisation.

Planning has commenced for follow-up ground electromagnetic surveys to be completed as a priority for the prospective corridor.

In addition, deep reverse circulation drilling to test the area is currently being planned and will commence next week.

READ: Fe Limited to receive minimum $300,000 from Sandfire Resources farm-in

The Morck’s Well project is jointly owned by Auris Minerals and Fe Limited. Sandfire is currently farming into the project with the right to earn a 70% interest in the project.

]]>
Tue, 15 May 2018 14:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196966/fe-limited-and-partners-receive-encouraging-copper-drilling-results-from-morcks-well-project-196966.html
<![CDATA[News - Fe Limited enters trading halt pending exploration update from Sandfire ]]> https://www.proactiveinvestors.com.au/companies/news/196870/fe-limited-enters-trading-halt-pending-exploration-update-from-sandfire-196870.html Fe Limited (ASX:FEL) has been granted a trading halt by the ASX pending the release of an exploration update by its joint venture partner Sandfire Resources NL (ASX:SFR).

The exploration update is regarding drilling at the Morck’s Well Project in Western Australia.

Fe Limited holds an interest in Morck’s Well Project tenements E52/1613, E51/1033 and E52/1672.

The halt will remain in place until the earlier of the release of the relevant information or the commencement of trading on Wednesday.

READ: Fe Limited to receive minimum $300,000 from Sandfire Resources farm-in

During February, Fe Limited and Auris Minerals (ASX:AUR) entered into an agreement with Sandfire in relation to the Morck’s Well East JV Project and Auris’ Doolgunna Project in Western Australia’s Bryah Basin.

Sandfire was to pay $1.2 million to Auris and $300,000 to Fe Limited in shares or cash and was to incur a minimum of $2 million in exploration expenditure within 2 years.

If Sandfire defines a resource of a minimum of 50,000 tonnes of contained copper (that has +50% in the indicated classification), then Sandfire may thereafter complete a feasibility study on that discovery.

If a discovery is made on Morck’s Well East JV Project and a feasibility study completed then the interests will be Sandfire 70%, Auris 24% and Fe Limited 6%.

]]>
Mon, 14 May 2018 12:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196870/fe-limited-enters-trading-halt-pending-exploration-update-from-sandfire-196870.html
<![CDATA[News - Fe Limited hits high-grade copper at DRC project supported by shallow cobalt ]]> https://www.proactiveinvestors.com.au/companies/news/193110/fe-limited-hits-high-grade-copper-at-drc-project-supported-by-shallow-cobalt-193110.html Fe Limited (ASX:FEL) has received further high-grade copper results supported by cobalt credits from the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo (DRC).

At the Kasombo 5 high-grade copper target, final assays from a reverse circulation (RC) drill program completed last year returned a best result of 24 metres at 3.5% copper from 37 metres.

The extensive strong widths and grades of copper are supported by shallow cobalt mineralisation of up to 10 metres at 0.22% cobalt from 11 metres.

READ: Fe Limited hits unexpected cobalt in hole drilled for copper at DRC project

Tony Sage, chairman, said: “We are very excited by this and are progressing our plans to complete a step out drilling program, with tenders for drilling already underway.”

Other results from Kasombo 5 include 23 metres at 3.18% copper from 54 metres and 12 metres at 0.19% cobalt from 36 metres.

Shallow cobalt intersections

At Kasombo 7 cobalt-rich target the RC drilling has returned shallow intersections of cobalt from depths of 8 metres and below.

Artisanal miners are mining and selling cobalt from this target to local processing plants.

The Kasombo project is in the DRC’s south, near the Zambian border.

The drilling targeted down-dip and along strike extensions of the high-grade cobalt mineralisation sampled from breccia exposed by artisanal workings.

The best results were 11 metres at 0.10% cobalt from 8 metres and 3 metres at 0.13% cobalt from 10 metres.

Further testing required

Further testing is required at Kasombo 7 as the results “demonstrate that more work is needed there to better understand the cobalt mineralisation”, Sage said.

This work will enable Fe Limited to better determine the size and extension of the identified cobalt mineralisation.

The chairman said: “While we are encouraged by the extensive workings by artisanal miners, which have exposed cobalt mineralisation, additional channel sampling and trenching work will proceed.”

READ: Fe Limited to receive minimum $300,000 from Sandfire Resources farm-in

The Kasombo project is within the Katangan Copperbelt and comprises three mineralised areas of about 600 hectares - Kasombo 5, 6 and 7.

In November 2017, Fe Limited was assigned the rights to explore and exploit the project from major shareholder Cape Lambert Resources Limited (ASX:CFE).

Kasombo is near Cape Lambert’s Kipushi Tailings Project, which includes processing facilities.

]]>
Wed, 14 Mar 2018 08:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193110/fe-limited-hits-high-grade-copper-at-drc-project-supported-by-shallow-cobalt-193110.html
<![CDATA[News - Fe Limited hits unexpected cobalt in hole drilled for copper at DRC project ]]> https://www.proactiveinvestors.com.au/companies/news/192303/fe-limited-hits-unexpected-cobalt-in-hole-drilled-for-copper-at-drc-project-192303.html Fe Limited (ASX:FEL) has intersected unexpected cobalt mineralisation in a drill hole aimed at testing a copper-rich zone of the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

The hole at Kasombo 5 prospect was abandoned before it reached the copper target zone owing to driller error but intersected a zone of low-grade cobalt mineralisation.

This zone was 15 metres thick and averaged 1,670 ppm cobalt from a depth of 17 metres.

“High hopes for project”

Tony Sage, chairman, said: “I am pleased to see that the early results of the preliminary drill program continue to support our high hopes for this project.”

Fe Limited completed preliminary reverse circulation drilling at Kasombo 5 and Kasombo 7 in late December 2017 and early January 2018.

READ: Fe Limited hits high-grade copper in first drill hole, cobalt results due shortly

The program at Kasombo 5 was targeting copper mineralisation mapped in the pit-wall of an open cut.

Two holes were completed for 149 metres and one hole returned a best result of 23 metres at 3.18% copper from 54 metres with assays from the second hole expected shortly.

Another two holes were abandoned after drilling 114 metres.

Drilling at Kasombo 7 prospect targeted cobalt mineralisation observed in bedding cross-cutting breccias and in conformable bedding layers exposed by small-scale artisanal workings.

Cobalt assay results imminent

Assay results from these holes are imminent.

The Kasombo project comprises three mineralised areas of circa 600 hectares, Kasombo 5, 6 and 7, within two granted mining licences.

The Kasombo project is north of the Kipushi processing plant.

Kasombo is circa 25 kilometres from the DRC’s second largest city Lubumbashi and is within the Katanga Copper Belt.

It is also to the north of the Kipushi Tailings Project and processing plant of Cape Lambert Resources Limited (ASX:CFE) at which cobalt is a primary target.

Cape Lambert is a major shareholder of Fe Limited, holding 39.63% of issued capital, and completed the sale of project rights from Kasombo to Fe in November 2017.

READ: Fe Limited to receive minimum $300,000 from Sandfire Resources farm-in

Fe Limited and Auris Minerals (ASX:AUR) have this week entered into a farm-in agreement with Sandfire Resources (ASX:SFR) in relation to their Morck’s Well East JV Project and Auris’ Doolgunna Project in Western Australia’s Bryah Basin.

Sandfire will pay $1.2 million to Auris and $300,000 to Fe in shares or cash and will incur a minimum of $2 million in exploration expenditure within 2 years.

]]>
Wed, 28 Feb 2018 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192303/fe-limited-hits-unexpected-cobalt-in-hole-drilled-for-copper-at-drc-project-192303.html
<![CDATA[News - Fe Limited to receive minimum $300,000 from Sandfire Resources farm-in ]]> https://www.proactiveinvestors.com.au/companies/news/192220/fe-limited-to-receive-minimum-300000-from-sandfire-resources-farm-in-192220.html Fe Limited (ASX:FEL) and Auris Minerals (ASX:AUR) have entered into an agreement with Sandfire Resources (ASX:SFR) in relation to their Morck’s Well East JV Project and Auris’ Doolgunna Project in Western Australia’s Bryah Basin.

Fe Limited holds a 20% interest in the Morck’s Well East JV Project along with Auris (80%) and is free carried until a decision to mine.

Tony Sage, chairman, said: "This is a win-win for all parties and we wish Sandfire all success in their upcoming drilling program."

Targeting a significant copper resource

Sandfire will pay $1.2 million to Auris and $300,000 to Fe Limited in shares or cash and will incur a minimum of $2 million in exploration expenditure within 2 years.

If Sandfire defines a resource of a minimum of 50,000 tonnes of contained copper (that has +50% in the indicated classification), then Sandfire may thereafter complete a feasibility study on that discovery.

If a discovery is made on Morck’s Well East JV Project and a feasibility study completed then the interests will be Sandfire 70%, Auris 24% and Fe Limited 6%.

Teaming up with a proven explorer

Morck’s Well East and Doolgunna Projects cover a portion of the Bryah Basin, that host both the DeGrussa and Monty high-grade copper deposits.

Importantly, Sandfire has already proved themselves to be a very successful explorer with both the DeGrussa and Monty discoveries.

READ: Fe Limited hits high-grade copper in first drill hole, cobalt results due shortly

Meanwhile, Fe Limited has received high-grade copper results from the first drill hole at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

Best result was 10 metres at 5.18% copper within a broader intersection of 23 metres at 3.18% from 54 metres in the lower zone.

Preliminary reverse circulation drilling has been completed at the Kasombo 5 and Kasombo 7 prospects with results expected soon.

]]>
Tue, 27 Feb 2018 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192220/fe-limited-to-receive-minimum-300000-from-sandfire-resources-farm-in-192220.html
<![CDATA[News - Fe Limited hits high-grade copper in first drill hole, cobalt results due shortly ]]> https://www.proactiveinvestors.com.au/companies/news/191743/fe-limited-hits-high-grade-copper-in-first-drill-hole-cobalt-results-due-shortly-191743.html Fe Limited (ASX:FEL) has received high-grade copper results from the first drill hole at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

The hole was drilled at Kasombo 5 prospect and intersected two zones of mineralisation.

Best result was 10 metres at 5.18% copper within a broader intersection of 23 metres at 3.18% from 54 metres in the lower zone.

In the upper zone, an intersection of 5 metres at 1.98% copper from 25 metres was returned.

READ: Fe Limited set for near-term copper and cobalt assays

Tony Sage, chairman, said: “I am pleased to see that the early results of the preliminary drill program support our high hopes for this project.

“We are building the justification to proceed with a planned 5,500-metre drill-out of Kasombo 5 and Kasombo 7.”

Preliminary reverse circulation drilling was completed at Kasombo 5 and Kasombo 7 in late December 2017 and early January 2018.

Testing concepts observed in mapping

Drilling was designed to test two styles mineralisation observed in a mapping program.

The first style conforms to that typical of deposits of the Katanga Copper Belt.

A second showed a cross-cutting breccia style, which provides the potential to significantly increase deposit size.

Holes target copper mineralisation

At Kasombo 5 two holes were completed for 149 metres targeting copper mineralisation mapped in the pit wall of an open cut with assays for the second hole expected shortly.

There were also two abandoned holes for 114 metres.

Cobalt assays are expected

At Kasombo 7 four reverse circulation holes were completed for 190 metres targeting cobalt mineralisation with assay results due shortly.

The mineralisation was observed in bedding cross-cutting breccias and in conformable bedding layers exposed by small-scale artisanal workings.

Evaluation of the drilling program will conclude after assays are received from three further batches.

Results by end of February

ALS is committed to finalising these assays by the end of February.

The Kasombo project comprises three mineralised areas of circa 600 hectares.

Kasombo 5, 6 and 7 are within two granted mining licences circa 25 km from the DRC’s second largest city, Lubumbashi.

READ: Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project

Fe Limited has appointed Philippe Bouchart as general manager of the Kasombo project.

He has held executive positions in the mining industry for 26 years and brings experience in exploration, development and production, much of it across copper and cobalt.

]]>
Fri, 16 Feb 2018 10:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191743/fe-limited-hits-high-grade-copper-in-first-drill-hole-cobalt-results-due-shortly-191743.html
<![CDATA[News - Fe Limited receives cash from exercise of options ]]> https://www.proactiveinvestors.com.au/companies/news/191469/fe-limited-receives-cash-from-exercise-of-options-191469.html Fe Limited (ASX:FEL) will receive cash from the exercise of 1.25 million options priced at $0.03.

The options were due to expire 30 November 2018.

READ: Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project

The company is focused on the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.

Kasombo contains three mineralised areas within two granted mining licenses.

Fe Limited's objectives are to complete a feasibility study on Kasombo within 18 months and commence mining activities as soon as practical.

]]>
Mon, 12 Feb 2018 08:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191469/fe-limited-receives-cash-from-exercise-of-options-191469.html
<![CDATA[News - Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/191117/fe-appoints-experienced-bouchart-as-general-manager-of-kasombo-copper-cobalt-project-191117.html Fe Limited (ASX:FEL) has appointed Philippe Bouchart as the general manager of the company’s Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.

Bouchart is ideally suited to the position having held executive positions in the mining industry for 26 years.

Importantly, Bouchart brings experience in exploration, development and production, much of it across the copper and cobalt commodities.

Sage highlights Bouchart’s experience

Tony Sage, chairman, said: “Phillipe Bouchart brings an incredible amount of experience to the role and has worked for over 15 years in the Democratic Republic of the Congo.

He has extensive experience with cobalt projects and on constructing and optimising metallurgical plants to maximise cobalt recoveries and returns.

I look forward to seeing the progress Mr Bouchart makes and in developing the Kasombo Project.”

As well as attracting high profile management, the Kasombo project has drawn interest from the investment community.

READ: Fe Limited attracts investors to advance cobalt asset in the Democratic Republic of Congo Fe Limited’s entry is well timed

In July 2017, FEL entered in to a binding Terms Sheet with Cape Lambert Resources Limited (ASX:CFE).

Under the agreement CFE was to assign to Fe Limited 100% of the rights and obligations it has in Kasombo project.

Since the binding term sheet was signed off the cobalt price has increased circa 50%, recently passing US$80,000 per tonne.

Kasombo provides substantial exposure

The Kasombo Project comprises three mineralized areas of approximately 600 hectares.

It is situated approximately 25 kilometres from the Democratic Republic of the Congo’s second largest city, Lubumbashi, in the Katanga Copper Belt. 

]]>
Mon, 05 Feb 2018 15:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191117/fe-appoints-experienced-bouchart-as-general-manager-of-kasombo-copper-cobalt-project-191117.html
<![CDATA[News - Fe Limited set for near-term copper and cobalt assays ]]> https://www.proactiveinvestors.com.au/companies/news/189612/fe-limited-set-for-near-term-copper-and-cobalt-assays-189612.html Fe Limited (ASX:FEL) is set to increase copper and cobalt news flow in the near term from its Kasombo project in the Democratic Republic of Congo.

The company has completed a preliminary drilling program and assay results are expected later this month.

Two prospect areas, Kasombo 5 and 7, have been drill tested with six reverse circulation holes completed.

Tony Sage, chairman, said: “I am pleased that preliminary drilling has been completed, especially during the difficult wet season period of the Congo.

“This drilling shows our commitment to unlock the potential of the Kasombo area.”

Shares reach 12 month high in early 2018

Fe’s shares hit a 12 month high of $0.076 on 2 January 2018 and further news flow from the project is expected in 2018.

Kasombo is circa 25 kilometres from the country’s second largest city, Lubumbashi, in the Katanga Copper Belt.

The Democratic Republic of Congo holds close to half of the global cobalt reserve base, and is the world’s single largest supply source with more than 60%.

The project comprises three mineralised areas of approximately 600 hectares – Kasombo 5, 6 and 7 – within two granted mining areas.

Two prospects tested

Two holes were completed for 149 metres at Kasombo 5, which is highly prospective for copper and lesser cobalt.

Four holes were completed for 190 metres at Kasombo 7, which is highly prospective for cobalt and lesser copper.

Mapping work identified the targets tested by the preliminary drilling.

Kasombo 5 is a prospect exposed by an open cut while Kasombo 7 was exposed by a small pit dug by artisanal miners.

Project acquired from Cape Lambert

In November 2017 Fe shareholders approved the acquisition of the Kasombo project from Cape Lambert Resources Ltd (ASX:CFE).

Cape Lambert is a major Fe shareholder with 40.17% of the issued capital.

READ: Fe Limited’s cobalt strategy helps attract new substantial shareholder

Fe recently attracted a new substantial shareholder with Melbourne-based fund manager SG Hiscock & Company Limited now holding 5.28%.

SG Hiscock became a substantial shareholder after acquiring more than 8.3 million shares for total cash consideration of $250,000.

]]>
Mon, 08 Jan 2018 10:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189612/fe-limited-set-for-near-term-copper-and-cobalt-assays-189612.html
<![CDATA[News - Fe Limited's cobalt strategy helps attract new substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/189561/fe-limited-s-cobalt-strategy-helps-attract-new-substantial-shareholder-189561.html Fe Limited (ASX:FEL) has gained a new substantial shareholder with Melbourne-based fund manager SG Hiscock & Company Limited now holding 5.28%.

SG Hiscock became a substantial shareholder after acquiring more than 8.3 million shares for total cash consideration of $250,000 on 28 December 2017.

The purchase has demonstrated confidence in Fe’s exposure to cobalt.

Boutique fund manager

SG Hiscock is a boutique fund manager specialising in Australian equities and property securities.

It was founded in 2001 and its chairman and managing director is experienced investment manager Stephen Hiscock.

Shares hit 12 month high

Fe’s shares hit a 12 month high of $0.076 on 2 January 2018.

In November 2017 Fe shareholders approved the acquisition of Kasombo Copper-Cobalt Project in the Democratic Republic of Congo from Cape Lambert Resources Ltd (ASX:CFE).

Cape Lambert is a major Fe shareholder with 44.66% of the issued capital.

READ: Fe Limited attracts investors to advance cobalt asset in the Democratic Republic of Congo

Fe is undertaking a placement to sophisticated and professional investors at $0.03 to raise up to $1 million before costs.

Funds will be allocated to exploration activities at the Kasombo project.

READ: Fe Limited gets the drill bit spinning at Kasombo Copper-Cobalt Project

Drilling is underway and will cover 300 metres across four holes at Kasombo 5 and five holes at Kasombo 7 in the preliminary program.

The Democratic Republic of Congo holds close to half of the global cobalt reserve base, and is the world's single largest supply source with more than 60%.

]]>
Fri, 05 Jan 2018 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189561/fe-limited-s-cobalt-strategy-helps-attract-new-substantial-shareholder-189561.html
<![CDATA[News - Fe Limited attracts investors to advance cobalt asset in the Democratic Republic of Congo ]]> https://www.proactiveinvestors.com.au/companies/news/189278/fe-limited-attracts-investors-to-advance-cobalt-asset-in-the-democratic-republic-of-congo-189278.html Fe Limited (ASX:FEL) is undertaking a placement to sophisticated and professional investors at $0.03 to raise up to $1 million before costs.

The company will allocate the funds to exploration activities at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

The country holds close to half of the global cobalt reserve base, and is the world's single largest supply source with over 60%.

Key Kasombo details

The project comprises three mineralised areas of circa 600 hectares, Kasombo 5, 6 and 7, located within two granted mining licenses.

Drilling is underway and will cover 300 metres across four holes at Kasombo 5 and five holes at Kasombo 7 in the preliminary program.

One 79 metre hole at Kasombo 5 has been completed, with the second hole in progress.

Tony Sage, chairman, recently commented: "I am pleased to see drilling commenced so that we can start to reveal the potential of the Kasombo area."

Mapping reveals high-grade cobalt

The company collected twenty samples during the mapping program, predominantly from Kasombo 7, with results including up to 6.99% cobalt.

Acquiring the Kasombo Project

Last month Fe shareholders approved the acquisition of Kasombo from Cape Lambert Resources Ltd (ASX:CFE).

Cape Lambert is a major shareholder holding 44.66% of the issued capital.

]]>
Wed, 27 Dec 2017 10:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189278/fe-limited-attracts-investors-to-advance-cobalt-asset-in-the-democratic-republic-of-congo-189278.html
<![CDATA[News - Fe Limited shares surge on resumption of trade ]]> https://www.proactiveinvestors.com.au/companies/news/189207/fe-limited-shares-surge-on-resumption-of-trade-189207.html Fe Limited (ASX:FEL) surged 75% to $0.049 on readmittance to trading after being successful in obtaining all orders sought at a Court hearing regarding the issue of shares.

The orders were made by the Federal Court of Australia relating to the sale of 10 million shares issued by the company on 6 November 2017.

The Court ruled that the sale of shares were not invalidated by any failure of the company to comply with section 707(3) of the Corporations Act 2001 (Cth) and also relieve from civil liability any seller of these shares.

The shares were issued as consideration for the acquisition from Cape Lambert Resources (ASX:CFE) of the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

Cape Lambert is a major Fe Limited shareholder holding 44.66% of the issued capital.

READ: Fe Limited gets the drill bit spinning at Kasombo Copper-Cobalt Project

The company has started drilling at the Kasombo project.

]]>
Fri, 22 Dec 2017 11:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189207/fe-limited-shares-surge-on-resumption-of-trade-189207.html
<![CDATA[News - Fe Limited gets the drill bit spinning at Kasombo Copper-Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/189124/fe-limited-gets-the-drill-bit-spinning-at-kasombo-copper-cobalt-project-189124.html Fe Limited (ASX:FEL) has now commenced its highly anticipated drilling program at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

The Kasombo Project comprises three mineralised areas of circa 600 hectares, Kasombo 5, 6 and 7, located within two granted mining licenses.

A total of 300 metres of drilling covering four holes at Kasombo 5 and five holes at Kasombo 7 is planned for this preliminary program.

One 79 metre hole at Kasombo 5 has been completed, with the second hole in progress.

Tony Sage, chairman, commented: "I am pleased to see drilling commenced so that we can start to reveal the potential of the Kasombo area."

Samples

The company collected twenty samples during the mapping program, predominantly from Kasombo 7.

Results included up to 6.99% cobalt.

Acquiring the Kasombo Project

Last month Fe shareholders approved the acquisition of Kasombo from Cape Lambert Resources Ltd (ASX:CFE).

Cape Lambert is a major shareholder holding 44.66% of the issued capital.

]]>
Thu, 21 Dec 2017 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189124/fe-limited-gets-the-drill-bit-spinning-at-kasombo-copper-cobalt-project-189124.html
<![CDATA[News - Fe Limited to commence copper cobalt drilling this week ]]> https://www.proactiveinvestors.com.au/companies/news/188615/fe-limited-to-commence-copper-cobalt-drilling-this-week-188615.html Fe Limited (ASX:FEL) plans to commence preliminary drilling this week at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo (DRC).

The company’s shareholders recently voted to acquire the project from Cape Lambert Resources Limited (ASX:CFE) who is also a major shareholder in Fe Limited.

READ: Fe Limited commences exploration work at copper-cobalt project

The Kasombo Project comprises three mineralised areas of circa 600 hectares, Kasombo 5, 6 and 7, located within two granted mining licenses.

Fe Limited has recently undertaken geological mapping and sampling works.

Recently completed mapping works were conducted on Kasombo 6 and 7 with further mapping of Kasombo 5 ongoing.

A report on the mapping works is complete and a small preliminary reverse circulation drill program has been designed.

Mapping revealed two styles of mineralisation

The mapping showed two styles of mineralisation, the first conforming to mineralisation typical of deposits of the Katanga Copper Belt.

The second style suggests a cross-cutting breccia style, which provides the potential for a significantly larger deposit size.

Samples collected show grades of up to 6.99% cobalt

The company also collected twenty samples during the mapping program, predominantly from Kasombo 7.

Assay results showed high grades of cobalt with the highest grade assays being 6.99% cobalt and 1.57% cobalt.

Tony Sage, chairman, said: “I am pleased to see that exploration works are now progressing at Kasombo and I am confident that the preliminary drill program will begin to reveal the full potential of the Kasombo area.”

]]>
Tue, 12 Dec 2017 10:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188615/fe-limited-to-commence-copper-cobalt-drilling-this-week-188615.html
<![CDATA[News - Fe Limited’s partner targets broad copper mineralisation in the Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/187684/fe-limiteds-partner-targets-broad-copper-mineralisation-in-the-bryah-basin-187684.html Fe Limited’s (ASX:FEL) partner Auris Minerals (ASX:AUR) is planning to drill two diamond holes to test the Wodger and Forrest prospects in Western Australia’s Bryah Basin.

The prospects are within the Forrest Project, in which Fe holds a 20% interest along with Auris (80%) and is free carried until a decision to mine.

Last month, Auris intersected further zones of copper from the second phase of drilling at the Wodger prospect.

READ: Fe Limited’s shares surge after multiple copper hits at the Forrest Project

The drilling highlights Include 78 metres at 0.35% copper including 15 metres at 1.17% copper and 0.11 g/t gold from 138 metres.

The new drill program has been designed to test the new conductor at Wodger and the interpreted eastern limb and surface electromagnetic (EM) conductor at Forrest.

Auris’ drilling is targeting broad copper-rich mineralisation of massive sulphides and mineralised breccia identified at Wodger.

Rigs will be mobilised over the weekend and drilling is set to commence early next week.

Wade Evans, chief executive officer, said: “We are excited to be testing the Wodger downhole EM plate, identified downdip of high-grade mineralisation in both WDRC005 and WDRC010 in the coming weeks and look forward to the results from testing the “eastern limb” target at the Forrest prospect with its corresponding ground EM conductor.”

]]>
Thu, 23 Nov 2017 15:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187684/fe-limiteds-partner-targets-broad-copper-mineralisation-in-the-bryah-basin-187684.html
<![CDATA[News - Fe Limited’s shares surge after multiple copper hits at the Forrest Project ]]> https://www.proactiveinvestors.com.au/companies/news/185682/fe-limiteds-shares-surge-after-multiple-copper-hits-at-the-forrest-project-185682.html Fe Limited’s (ASX:FEL) partner Auris Minerals (ASX:AUR) has intersected further zones of copper from the second phase of drilling at the Wodger prospect within the Forrest Project in Western Australia.

Fe holds a 20% interest and is free carried until a decision to mine at the Forrest Project along with Auris (80%).

The company’s shares were last trading 25% higher intra-day, at $0.025.

Wade Evans, chief executive officer of Auris, commented: “The presence of bornite, chalcocite and native copper within quartz-carbonate breccia zones provides significant encouragement for the potential presence of significant economic mineralisation at Wodger.

“We look forward to the results of the DHEM currently underway and undertaking the next phase of exploration”.

Multiple copper hits

Auris’ reverse circulation (RC) drilling included 5 holes for 1,251 metres which aided in understanding the geometry of the mineralised system, followed by a single diamond hole.

The RC drilling highlights Include:

- 78 metres at 0.35% copper including 15 metres at 1.17% copper and 0.11 g/t gold from 138 metres;
- 6 metres at 1.14% copper from 235 metres;
- 28 metres at 0.75% copper from 155 metres; and
- 66 metres at 0.59% copper from 290 metres including 5 metres at 2.38% copper from 346 metres.

Significant quartz-carbonate zone identified

A single diamond hole was designed to develop a further understanding of the structural and geological controls on mineralisation and form a solid platform for a follow-up DHEM (drill-hole electromagnetic) survey.

Bornite, chalcocite and native copper mineralisation was intersected, hosted within a substantive quartz-carbonate breccia unit that has continuity, thus far to a 400 metre vertical.

This unit is mineralised from surface to its currently intersected depth, plunges north and remains open.

The full assay results from this diamond hole will be available within the coming weeks.

Next steps

DHEM surveys are currently underway to assess whether the breccia develops into a more copper-rich unit at depth or whether massive sulphides can be identified above or below the mineralised breccia.

Following the completion of a structural and geological interpretation of the drilling completed to date, a surface IP survey to delineate the dimensions of the plunging mineralised body will be investigated.

Further drilling is required to test the tenure of mineralisation below the drill holes as well as to the north, focussing on the closure of the potential fold hinge (primary structural target).

READ NEXT: Fe Limited's partner Auris Minerals receives co-funding to drill Wodger ]]>
Tue, 17 Oct 2017 14:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185682/fe-limiteds-shares-surge-after-multiple-copper-hits-at-the-forrest-project-185682.html
<![CDATA[News - Fe Limited's partner Auris Minerals receives co-funding to drill Wodger ]]> https://www.proactiveinvestors.com.au/companies/news/183416/fe-limited-s-partner-auris-minerals-receives-co-funding-to-drill-wodger-183416.html Fe Limited (ASX:FEL) holds a 20% interest and is free carried until decision to mine at the Forrest Project located in Western Australia, with partner Auris Minerals Ltd (ASX:AUR) (80%).

Drilling is underway on a 2500 metre reverse circulation and diamond program at the Wodger prospect, which is designed to confirm the geometry of high-grade mineralisation in WDRC005 which intersected: 31 metres at 2.39% copper.

The program has now received a $200,000 State Government co-funded exploration drilling grant.

Wade Evans, chief executive officer for Auris, commented:

"The state government co-funded drilling support for Wodger is perfectly timed with the drilling having commenced today.

"The company is well funded to complete a significant program of drilling to determine the extent of the high-grade copper mineralisation and looks forward to a flow of results over the coming month."

]]>
Tue, 05 Sep 2017 13:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183416/fe-limited-s-partner-auris-minerals-receives-co-funding-to-drill-wodger-183416.html
<![CDATA[News - Fe Limited's partner commits to more drilling following high-grade copper in Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/183058/fe-limited-s-partner-commits-to-more-drilling-following-high-grade-copper-in-bryah-basin-183058.html Fe Limited (ASX:FEL) holds a 20% interest and is free carried until decision to mine at the Forrest Project, with partner Auris Minerals Ltd (ASX:AUR) (80%).

The project is located in the exploration hot spot of the Bryah Basin in Western Australia.

Auris has now committed to a 2500 metre reverse circulation and diamond drilling program at the Wodger prospect, designed to confirm the geometry of high-grade copper mineralisation in WDRC005 which intersected: 31 metres at 2.39% copper.

The extent of the chalcocite copper sulphide mineralisation in WDRC005 is a key focus for the drilling program.

Wodger has shown geological similarities to the nearby DeGrussa deposit.

]]>
Tue, 29 Aug 2017 12:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183058/fe-limited-s-partner-commits-to-more-drilling-following-high-grade-copper-in-bryah-basin-183058.html
<![CDATA[News - Fe Limited's partner Auris Minerals attracts funding at a premium for Bryah Basin ]]> https://www.proactiveinvestors.com.au/companies/news/182903/fe-limited-s-partner-auris-minerals-attracts-funding-at-a-premium-for-bryah-basin-182903.html Fe Limited (ASX:FEL) holds a 20% interest and is free carried until decision to mine at the Forrest Project, located in the highly prospective Bryah Basin in Western Australia.

Partner Auris Minerals Ltd (ASX:AUR) has raised $1.68 million at $0.08, which is a 3.9% premium to the last price of $0.077.

The focus at Forrest is on the Wodger prospect, where recent high-grade copper mineralisation was intersected, showing geological similarities to the nearby DeGrussa deposit.

Recent highlights include: 14 metres at 1.48% copper from 118 metres; 9 metres at 2.01g/t gold from 123 metres; and 5 metres at 3.64g/t silver from 123 metres.

Broader intersections included: 61 metres at 0.49% copper from 122 metres.

The importance of the results is the presence of primary copper sulphide mineralisation at the base of the high-grade oxide copper zones.

]]>
Thu, 24 Aug 2017 14:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182903/fe-limited-s-partner-auris-minerals-attracts-funding-at-a-premium-for-bryah-basin-182903.html
<![CDATA[News - Fe Limited's partner Auris Minerals reveals high-grade copper ]]> https://www.proactiveinvestors.com.au/companies/news/182772/fe-limited-s-partner-auris-minerals-reveals-high-grade-copper-182772.html Fe Limited (ASX:FEL) holds a 20% interest and is free carried until decision to mine at the Forrest Project, located in the highly prospective Bryah Basin in Western Australia.

Partner Auris Minerals Ltd (ASX:AUR) has intersected more broad zones of high-grade zones of copper-gold-silver mineralisation from reverse circulation drilling.

Highlights include: 14 metres at 1.48% copper from 118 metres; 9 metres at 2.01g/t gold from 123 metres; and 5 metres at 3.64g/t silver from 123 metres.

Broader intersections included: 61 metres at 0.49% copper from 122 metres.

The importance of the results is the presence of primary copper sulphide mineralisation at the base of the high-grade oxide copper zones.

This may indicate that exploration is proximal to the principal target of a primary copper-gold sulphide system.

Auris will review the results before planning the next drilling program.

]]>
Tue, 22 Aug 2017 14:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182772/fe-limited-s-partner-auris-minerals-reveals-high-grade-copper-182772.html
<![CDATA[News - Fe Limited's chairman Tony Sage continues to buy on-market ]]> https://www.proactiveinvestors.com.au/companies/news/182305/fe-limited-s-chairman-tony-sage-continues-to-buy-on-market Fe Limited's (ASX:FEL) non-executive chairman, Tony Sage, continues to snap up shares in the company through on-market purchases.

The company is in the process of acquiring an equity interest in the copper-cobalt project from Cape Lambert Resources Ltd (ASX:CFE).

Sage bagged another 459,311 shares in Fe for a consideration of A$13,169. This followed a purchase of 1 million shares last week.

READ: Fe Limited commences exploration work at copper-cobalt project

Sage's stake in Fe has now increased to circa 3.9 million shares.

Fe's portfolio

The Kasombo project is located amongst some of the world’s largest and highest grade copper and cobalt mines.

The company also has a number of free-carried interests in projects located within the Bryah Basin region of Western Australia.

]]>
Fri, 11 Aug 2017 14:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182305/fe-limited-s-chairman-tony-sage-continues-to-buy-on-market
<![CDATA[News - Fe Limited commences exploration work at copper-cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/181961/fe-limited-commences-exploration-work-at-copper-cobalt-project-181961.html Fe Limited (ASX:FEL) has commenced initial exploration works at the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.

Last month, Fe Limited entered a binding terms sheet with Cape Lambert Resources (ASX:CFE) whereby Cape Lambert will assign to Fe Limited 100% of the rights and obligations it has in the Kasombo Copper-Cobalt Project.

Cape Lambert’s rights to the Kasombo Project were established in a 50/50 joint venture agreement with Congolese entity Paragon Mining SARL.

As outlined in the term sheet, Fe Limited is required to conduct exploration works at the Kasombo Project during the settlement period of the transaction.

Therefore, Fe Limited has engaged the services of the local branch of SRK Consulting to commence the initial exploration works at Kasombo.

Exploration work plan

Initial exploration works include retrieving and reviewing historical data and undertaking a detailed mapping programme over the project area.

Following completion of the mapping program, a geochemical sampling program and ground magnetic survey will be completed over the area, to define targets for a subsequent drilling program.

Tony Sage, chairman, commented: “I am very excited that exploration works are starting on this highly prospective copper-cobalt rich area and look forward to the exploration works progressing to a drilling program so that we can expose the full potential of the area.”

Kasombo summary

The Kasombo Copper-Cobalt Project is located in an area with excellent infrastructure and the world’s major cobalt mining region.

The region accounts for ~50% of the world's cobalt reserves and ~60% of global cobalt supply.

The project consisted of three mineralised areas totalling 600 hectares within two granted mining licences.

Handheld XRF sampling of artisanal cobalt workings and exposed cobalt mineralisation at the Kasombo Copper-Cobalt Project areas confirm high cobalt and copper grades.

An exploration plan is ready to commence and the project has access to the nearby Kipushi Processing Plant.

]]>
Fri, 04 Aug 2017 13:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181961/fe-limited-commences-exploration-work-at-copper-cobalt-project-181961.html