https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Tue, 20 Nov 2018 07:41:02 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![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).

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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.

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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.

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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.

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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.

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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.

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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.

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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.”

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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.

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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.”

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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.

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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%.

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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.

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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.

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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.

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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.

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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.

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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. 

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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.

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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%.

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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.

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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.

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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.

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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.”

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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.”

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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."

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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.

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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.

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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.

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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.

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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.

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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
<![CDATA[News - Fe Limited receives a vote of confidence as chairman buys on-market ]]> https://www.proactiveinvestors.com.au/companies/news/181819/fe-limited-receives-a-vote-of-confidence-as-chairman-buys-on-market-181819.html Fe Limited (ASX:FEL) has had its chairman, renown resources industry veteran, Tony Sage, purchase shares in the company on market.

Sage purchased 1 million shares in total across a number of on-market trades that saw him boost his holdings in the company to over 3 million shares.

The 1 million shares were purchased for $27,000 resulting in an average purchase price of $0.027 per share.

During July, the company executed a binding term sheet with Cape Lambert Resources (ASX:CFE)  to acquire 100% of Cape Lambert’s rights and obligations to the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.

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

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

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Wed, 02 Aug 2017 15:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181819/fe-limited-receives-a-vote-of-confidence-as-chairman-buys-on-market-181819.html
<![CDATA[News - Fe Limited set to benefit from high-grade copper hits ]]> https://www.proactiveinvestors.com.au/companies/news/181673/fe-limited-set-to-benefit-from-high-grade-copper-hits-181673.html Fe Limited (ASX:FEL) is making the most of its 20% free-carried interest in the first phase of reverse circulation drilling at the Forrest Project in Western Australia.

First assays from the Wodger prospect returned major intersections of copper‐gold‐silver mineralisation.

These included 50 metres at 1.55% copper from 175 metres, 41 metres at 0.47 g/t gold from 177 metres and 59 metres at 5.05 g/t silver from 168 metres.

The company’s 20% interest is free-carried until a decision to mine.

Results require immediate follow-up exploration to test for a potential fresh massive sulphide source.

Sandfire similarities…

Sandfire Resources’ (ASX:SFR) DeGrussa deposit began as an oxide gold discovery which was later recognised as the residual gold cap above the massive copper sulphide mineralisation.

This is analogous with the initial exploration drilling at Wodger which returned elevated gold in the oxide zone and with increasing depth, an increase in copper oxide mineralisation.

First phase drilling at Wodger

This first phase of reverse circulation drilling at Wodger located within the Forrest Project included the completion of five holes for 999 metres.

WDRC005 intersected significant oxide copper values at the base of the oxide gold cap.

This included:

- 50 metres at 1.55% copper from 175 metres;
- 41 metres at 0.47 g/t gold from 177 metres; and 
- 59 metres at 5.05 g/t silver from 168 metres.

Mineralisation in WDRC005 consists of extensive zones of malachite and azurite (oxide copper) at the base of a residual gold cap.

The geochemistry of the copper‐gold‐silver mineralisation is consistent with VMS origin.

Assays pending

Laboratory results for holes WDRC001‐004 should be available with the next two weeks.

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Mon, 31 Jul 2017 14:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181673/fe-limited-set-to-benefit-from-high-grade-copper-hits-181673.html
<![CDATA[News - Fe Limited acquires rights to copper-cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/180811/fe-limited-acquires-rights-to-copper-cobalt-project-180811.html Fe Limited (ASX:FEL) has entered into a binding terms sheet for rights and obligations to the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo (DRC).

The rights and obligations are being acquired from Cape Lambert Resources (ASX:CFE) who established the rights through entering a 50:50 joint venture with a Congolese entity.

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

Tony Sage, chairman, commented: “The acquisition of the Kasombo Project will provide FEL an ideal opportunity to build a portfolio of cobalt assets in the established cobalt producing region of DRC and nearby to the Kipushi Processing Plant.

“The car industry’s push toward electric vehicles underpins the burgeoning market for cobalt, a key metal for car batteries.”

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.

Transaction details

Pursuant to Cape Lambert’s obligations under the joint venture agreement, the objectives of the Fe Limited will be to:

- Undertake the exploration activities at the Kasombo Project;
- Complete a feasibility study on the Kasombo Project within 18 months; and
- To commence mining activities at the Kasombo Project within 24 months.
The company will pay a cash and share component for consideration for acquiring the rights, totalling 35 million shares and $125,000.

Settlement of the transaction is conditional upon due diligence among other things, to be completed on or before 30 September 2017.

Analysis

The transaction provides Fe Limited with exposure to the metal cobalt, which is currently trading at prices of US$60,000 per tonne.

Increasing cobalt prices are a result of increased demand due to the use of cobalt in electric vehicle batteries and constrained supply.

As a result of these market dynamics, major mining companies have been aggressively acquiring cobalt projects in the DRC.

Shares in the company are trading up 7.7% intra-day, currently priced at $0.028.

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Thu, 13 Jul 2017 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180811/fe-limited-acquires-rights-to-copper-cobalt-project-180811.html
<![CDATA[News - Fe Ltd is set to pounce ]]> https://www.proactiveinvestors.com.au/companies/news/180727/fe-ltd-is-set-to-pounce-180727.html Fe Ltd (ASX:FEL) has some acquisition news pending, and the ASX has granted the company a trading halt to prepare.

Tony Sage is the non-executive chairman of the company.

The halt will remain in place until the opening of trade on Friday 14th July 2017, or earlier if an announcement is made to the market.

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Wed, 12 Jul 2017 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180727/fe-ltd-is-set-to-pounce-180727.html
<![CDATA[News - Fe Limited adds cobalt in Africa to its diverse project portfolio ]]> https://www.proactiveinvestors.com.au/companies/news/175649/fe-limited-adds-cobalt-in-africa-to-its-diverse-project-portfolio-175649.html Fe Limited (ASX:FEL) is now reviewing several cobalt projects in the Democratic Republic of Congo (DRC) and Zambia.

The review comes after results from the Mt Elvire soil sampling program returned no significant mineralisation.

Notably, a 44% major shareholder of Fe is Cape Lambert Resources (ASX:CFE) who has recently gained exposure to cobalt assets in DRC with near-term mining potential.

Tony Sage, chairman, commented: “Given the disappointing soil sampling results the company will now focus on several cobalt opportunities in the DRC and Zambia that have been offered.

“Our technical team will review these opportunities and the company will report back to the market as soon as possible.”


Background

Fe has interests in a portfolio of mineral projects located in Australia that are prospective for iron ore, gold and base metals.

The prospective projects are in the Bryah Basin region of Western Australia with joint venture partners RNI NL (ASX:RNI), Alchemy Resources (ASX:ALY), Independence Group NL (ASX:IGO), Westgold Resources (ASX:WGR) and Billabong Gold Pty Ltd.

The project portfolio includes:

- Bryah Basin Joint Venture Projects (20%, free carried to decision to mine);
- Grosvenor Projects (20%, free carried to decision to mine);
- Alchemy Projects (20%, free carried to decision to mine);
- Mt Ida Gold Project;
- Mt Ida Iron Ore Project (iron ore rights);
- Mt Elvire Project (100%); and
- Evanston Iron Ore Royalty (1.5% royalty).


Mt Elvire Project

A total of 114 samples were extracted from E77/1842 and 118 samples were extracted from E77/1843.

The results returned from the sample program have not highlighted any significant mineralisation within the tenements but Fe remains committed to retaining E77/1842 and E77/1843 so that further soil sampling work can be implemented.

Additionally, the company is assessing surrounding tenure and vacant land with a view to acquiring more ground in the region to improve prospectivity of the project area.

Recent results at Grosvenor Projects

Operator of the Grosvenor Projects, RNI NL, recently intercepted significant mineralisation including 25 metres at 1.1% copper.

This followed up first pass aircore drilling at the Wodger prospect, which intersected volcanogenic massive sulphide (VMS) oxide mineralisation over one kilometre in length.

Significant copper intercepts from this phase of work include:

- 25 metres at 1.1% copper including 4 metres at 4.73% copper; and
- 4 metres at 1.19% copper within a broader halo of 100 metre at 0.32% copper.

The recent intercept of 25 metres at 1.1% copper is 230 metres south east along strike from the previous 9 metres at 1.30% copper and demonstrates that this mineralised system has both significant size and scale.


Cobalt opportunity

Cobalt is a specialty metal used in rechargeable batteries, specifically in the cathode – its properties allow it to store power for longer.

Due to its potential widespread use in smartphones and the lithium-ion batteries used in Tesla Inc (NASDAQ:TSLA) vehicles, prices have been rapidly rising.

The cobalt price has more than doubled since the end of August 2016 to trade over $US50,000 per tonne recently.

A big driver of the cobalt price in 2017 is speculation that supply won’t be able to keep up with demand.

This is further exacerbated by the cobalt market being in deficit last year for the first time since 2009.

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Thu, 30 Mar 2017 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175649/fe-limited-adds-cobalt-in-africa-to-its-diverse-project-portfolio-175649.html
<![CDATA[News - Fe Limited appoints Paul Carroll as managing director ]]> https://www.proactiveinvestors.com.au/companies/news/135997/fe-limited-appoints-paul-carroll-as-managing-director-67614.html Fe Limited (ASX:FEL) has now appointed Paul Carroll as managing director, replacing Mark Gwynne who will retire from his executive role but remain a non-executive director, at completion of the Cardinal House acquisition.

FEL has previously has signed a binding conditional agreement to acquire 100% of Cardinal House.

The partnership allows Cardinal House to gain access to a worldwide fully integrated interactive gaming management system, comprising of (but not limited to) bingo, licensed online gaming and specifically Gameworkz-originated content and technologies, accessible from multi-level devices such as mobile/hand held devices, specialist set top boxes, PCs, specialist gaming consoles, MacBook, iMac and MacBook Pro.

It is proposed that Gameworkz will operate as Cardinal House’s specialist bingo service provider.

Under the agreement, Gameworkz will provide Cardinal House with services that include full site management and business development, operations management, chat teams and chat management, customer support and data analytic support management, cash-out services, local and international marketing and full player acquisition and retention services.

Tony Sage, chairman for FEL, recently commented:

“Gameworkz is recognised as one of the industry’s leading interactive bingo service providers and has won multiple industry awards. It’s great news for FEL and the shareholders that we have partnered with such an experienced service provider.”

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 21 Mar 2016 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135997/fe-limited-appoints-paul-carroll-as-managing-director-67614.html
<![CDATA[News - Fe Limited sees future in online gaming ]]> https://www.proactiveinvestors.com.au/companies/news/135996/fe-limited-sees-future-in-online-gaming-66153.html Iron ore developer Fe Limited (ASX:FEL) has  flagged an improved outlook for its move into the gaming industry with an update on three licences being awarded to its takeover target.

Earlier this year, Fe signed a binding conditional share sale agreement to acquire 100% of online gaming company Cardinal House.

This strategy has been most recently supported by the Norfolk Island Gaming Authority granting Cardinal three worldwide gaming licences allowing for interactive home gaming, bookmaking in respect of race meetings and sports betting and conducting worldwide interactive lotteries.

The term of the licences is between 8-10 years.

Cardinal proposes to become an innovative entertainment provider for business and direct customer delivery of online social gaming and gambling, in addition to providing a compliant and fully integrated payment processing system.

Its current focus is on seeking to acquire an audience of national and international gaming markets where it proposes to offer safe, securely regulated, real money gambling experiences and enriched user entertainment through highly enhanced social gaming networks.

The Asia-Pacific region represents a large prospective growth market for gaming services and Cardinal is well placed to take advantage of these opportunities.

Cardinal is currently in B2B partnership negotiations with regional groups who operate across Southeast Asia.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 14 Dec 2015 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135996/fe-limited-sees-future-in-online-gaming-66153.html
<![CDATA[News - Fe Limited to reveal potential game changer ]]> https://www.proactiveinvestors.com.au/companies/news/135995/fe-limited-to-reveal-potential-game-changer-64795.html Fe Limited (ASX:FEL) has been granted an ASX trading halt, pending details of a significant acquisition.

No additional details have yet been released.

The halt will remain in place until the opening of trade on Wednesday 30th September 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong.

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Mon, 28 Sep 2015 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135995/fe-limited-to-reveal-potential-game-changer-64795.html
<![CDATA[News - Fe Limited receives final payment for sale of Gympie Eldorado Mining, focus on WA iron ]]> https://www.proactiveinvestors.com.au/companies/news/135994/fe-limited-receives-final-payment-for-sale-of-gympie-eldorado-mining-focus-on-wa-iron-54367.html Fe Limited (ASX: FEL) has received the final payment of $1.425 million relating to the sale of Gympie Eldorado Mining, allowing it to Gympie Eldorado Mining Mt Ida and Mt Elvire iron ore projects in Western Australia’s Southern Yligarn Province.

The company plans to undertake further exploration in the near to advance these projects.

It noted the anticipated upgrade of a further 10 million tonnes per annum of the Esperance Port and Rail facilities will enhance mining prospects for the region and see projects advance to mining in the short term.

Both Mt Ida and Mt Elvire are within trucking distance of operational railways that access the deep water port at Esperance.

Initial exploration at Mt Ida has defined an exploration target size of 1.1 to 1.4 billion tonnes with a grade of 30 to 37% iron for the Eastern and Western BIF units.

FE also noted that high grade copper mineralisation had been confirmed at the Wodger Prospect of its Grosvenor Project.

The company has a 20% free carried interest to decision to mine.

Relogging and resampling of historic drilling has reported copper results up to 13.8%.

 

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

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Wed, 16 Apr 2014 08:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135994/fe-limited-receives-final-payment-for-sale-of-gympie-eldorado-mining-focus-on-wa-iron-54367.html
<![CDATA[News - Fe Limited to sell Gympie Eldorado gold mine in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/135993/fe-limited-to-sell-gympie-eldorado-gold-mine-in-queensland-46313.html Fe Limited (ASX: FEL) has signed a conditional term sheet to sell its Gympie Eldorado gold mine in southeast Queensland to a Singapore based private Mining and Metals trading company for $250,000 in cash.

The company will receive a net smelter royalty on gold recovered from the mine and tailings as well as 10% of profits on any subsequent sale of freehold land.

It will also receive about $2.2 million from the release of environmental performance bonds after settlement occurs.

The sale covers mining leases that contain three tailings storage facilities covering about 22 hectares and associated remaining assets and infrastructure at the mine, which was closed in late 2008.

Completion of the Transaction is conditional on the Purchaser completing technical and legal due diligence.

Following completion of the Transaction, the company intends to focus on near term exploration of the Mt Ida Iron Ore Project in the Yilgarn Iron Province of Western Australia, including first pass drilling to test outcropping mineralisation with a focus on direct shipping grade hematite targets.

Mt Ida is about 80 kilometres northwest of the operational railway at Menzies, which offers access to existing port facilities at Esperance.

Esperance port is proposing an upgrade of facilities to increase capacity by about 10 million tonnes per annum by mid-2015.

The Project comprises the rights to explore and mine for iron ore on a group of 71 licences covering about 370 square kilometres in the emerging Yilgarn Iron Province.

The principal targets are located on licences E29/561 and E29/644 where the company holds 100% and 85% respectively of the rights to explore for and mine iron ore.

These tenements are prospective for detrital and in-situ DSO iron mineralisation, especially in the hanging-wall and at cross fault / BIF unit intersections, and for large magnetite BIF deposits.

 

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

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Fri, 02 Aug 2013 17:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135993/fe-limited-to-sell-gympie-eldorado-gold-mine-in-queensland-46313.html
<![CDATA[News - Fe Limited to sell Northcote gold / antimony project interest ]]> https://www.proactiveinvestors.com.au/companies/news/135992/fe-limited-to-sell-northcote-gold-antimony-project-interest-38268.html Fe Limited (ASX: FEL) has sold its minority equity in the Northcote gold / antimony project,
located in Far North Queensland to Territory Minerals Ltd.

Worth noting Tony Sage is the Fe Limited Non-Executive Chairman.

Terms of the sale include; Issue of 1 million shares in Territory; Payment of $74,999 upon successful listing, or Territory selling, divesting or disposing of all or some of the project to a third party; and Territory to maintain the tenements in good standing.

Territory Minerals is looking to list on the ASX in early 2013.


The Northcote Project: Sale conditions

Fe Limited has entered into a conditional sale agreement with Territory for its minority equity in the - and the sale is conditional upon Territory successfully listing on the ASX.

The company holds 10% - 15% in two mining tenements which host gold / antimony mineralisation with defined resources, previously determined by Republic Gold Ltd and forms part of a larger project area.

The project was previously majority owned and managed by Republic Gold Ltd.


Fe Limited key projects

Fe Limited has a portfolio of key projects and interests, including the; Mt Ida Iron Ore Project;
Mt Elvire Iron Ore Project; Crossroads, Bardoc and Grafters Gold Projects; Kalgoorlie Regional Gold Project; and Kalgoorlie Regional Nickel Project.

 

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

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Wed, 16 Jan 2013 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135992/fe-limited-to-sell-northcote-gold-antimony-project-interest-38268.html
<![CDATA[News - Fe Limited updates market on Gympie Eldorado Mining divestment ]]> https://www.proactiveinvestors.com.au/companies/news/135991/fe-limited-updates-market-on-gympie-eldorado-mining-divestment-20317.html Fe Limited (ASX: FEL) has provided some further details on the divestment of Gympie Eldorado Mining in a company update today.

Fe Limited advises that BRI Microfine Pty Ltd, assisted by employees of Gympie Eldorado Mining Pty Ltd, has now completed bulk sampling of tailings at the closed Gympie Eldorado Gold Mine in Queensland.

Completion of the conditional sale agreement for the sale of all the shares in Gympie Eldorado Mining to BRI Microfine, which was announced in April this year, is subject to satisfactory completion of due diligence including test work trials on the tailings.

BRI Microfine has advised Fe Limited that it has received sufficient bulk samples at its laboratory facility in Victoria, where test work trials are now in progress.

As a result of the sampling delays, BRI Microfine has requested and been granted an extension to 31 October 2011 to allow it to complete technical due diligence.

 

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Mon, 03 Oct 2011 15:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135991/fe-limited-updates-market-on-gympie-eldorado-mining-divestment-20317.html
<![CDATA[News - Fe Limited drilling to target banded iron formation at Mt Elvire ]]> https://www.proactiveinvestors.com.au/companies/news/135990/fe-limited-drilling-to-target-banded-iron-formation-at-mt-elvire--15178.html Western Australia-based Fe Limited (ASX: FEL) has commenced a 2,200 metre reverse circulation drilling program at its wholly owned Mt Elvire Ore Project, following up the occurence of BIF (Banded Iron Formation) on the new prospect at Camelback.

Mt Elvire is located in the Yilgarn Iron Province of Western Australia. Also, field reconnaissance has commenced at he newly acquired Mt Ida Iron Ore Project.

Cliffs Resources' (NYSE: CLF) Koolyyanobbing Operation is located 50km to the south and Macarthur Minerals' (TSX-V: MMS) Lake Giles project is located 30km to the east-south-east.

An exploration target of 515-675 million tonnes at 26-46% iron (Fe) has been estimjated for the Mt Elvire Iron Ore Project.

Importantly for potential early cashflows, the exploration target includes 15 to 25 million tonnes of potential direct shipping ore.

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Mon, 04 Apr 2011 09:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135990/fe-limited-drilling-to-target-banded-iron-formation-at-mt-elvire--15178.html
<![CDATA[News - Fe Ltd acquires 371 square kilometre Mt Ida Iron Ore Project, appoints new managing director ]]> https://www.proactiveinvestors.com.au/companies/news/135989/fe-ltd-acquires-371-square-kilometre-mt-ida-iron-ore-project-appoints-new-managing-director-14849.html Iron ore focused Fe Limited (ASX:FEL) has acquired the rights to explore and mine iron ore on 371 square kilometres of licenses at Mt Ida from Dempsey Resources, a subsidiary of Cape Lambert Resources (ASX:CFE).

The acquisition covers the iron ore rights to 9.5 kilometres of strike of banded iron formation at Mt Ida in the Yilgarn Province in Western Australia.

The consideration of the iron ore rights cost $50,000 and a production royalty of $1 per tonne of iron ore payable to Dempsey.

The Mt Ida Iron Ore Project provides Fe with licences to explore and mine iron ore in the Yilgram Iron Province, 180 km northwest of Kalgoorlie, as well as 9.5 kilometres of strike of the eastern unit of Mt Ida - Mt Bevan banded iron formation units.

The Mt Ida Iron Project is proximal to established infrastructure including a sealed road, gas pipeline and rail which offers access to operational port facilities at Esperance and Kwinana, with Esperance set to increase capacity in the near future.

Fe plans to immediately commence initial exploration including geophysical and geological surveys with the objective to design a drilling program to commence later in 2011.

Meanwhile, Fe also announced the appointment of Mr Kim Bischoff to Managing Director on March 21. Bischoff has significant experience in advancing early stage iron ore assets and his appointment is opportune with the expansion fo the company's portfolio by the addition of the highly prospective Mt Ida Iron Project, according to an ASX press release.

Bischoff recently commented on the new acquisition saying, "the iron ore rights to the Mt Ida Iron Project further strengthens the Company's portfolio of iron ore projects in the emerging Yilgarn Iron Ore Province of Western Australia."

Previously, Bischoff was a non-executive director of DMC Mining and general manager of exploration for Cape Lambert Resources. Bischoff has more than 28 years in the mineral  industry as a highly experienced geologist and executive.

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Tue, 22 Mar 2011 15:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135989/fe-ltd-acquires-371-square-kilometre-mt-ida-iron-ore-project-appoints-new-managing-director-14849.html