Proactiveinvestors Australia Marquee Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Marquee Resources Ltd RSS feed en Sat, 20 Jul 2019 09:37:48 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Marquee Resources enters highly prospective Lithium Triangle area through acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/222030/marquee-resources-enters-highly-prospective-lithium-triangle-area-through-acquisition-222030.html Marquee Resources Ltd (ASX:MQR) will enter Argentina's Lithium Triangle after agreeing to acquire Centenario Lithium Limited, a company incorporated in Australia which holds a 30% interest in Lithium Power Holdings Argentina Pty Ltd (LPIH).

LPIH owns seven leases in the Centenario Salar is in the centre of the Lithium Triangle in the mining friendly Salta province of northern Argentina.

ASX-listed Lithium Power International Ltd (ASX:LPI) holds the remaining 70% of LPIH.

Additionally, Marquee will receive commitments for a capital raising of not less than $500,000 from the shareholders of Centenario or investors introduced by them as part of the transaction.

READ: Marquee Resources prepares Werner Lake resource update, metallurgical sample

Marquee managing director Charles Thomas said: “We are extremely pleased to have been able to secure this agreement which allows us to acquire interests in this exciting lithium project.

“We will now move quickly to complete due diligence and we look forward to activating the exploration and development program with one of the ASX’s leading lithium companies and our new partner, Lithium Power International.”

The leases cover 68 square kilometres in the Centenario Lithium Brine Salar over seven adjoining leases, about 165 kilometres west of the City of Salta which has an international airport, hotels and other facilities.

Centenario Salar is about 60 kilometres in length, with a long axis trending north-south with the average surface elevation being 3,900 metres above sea level.

The project area is a basin surrounded by mountains 500 to 800 metres in height and as such is a closed drainage system.

Extremely high evaporation rates have caused concentration of elements such as lithium, potassium, sodium and magnesium.

The project area's climate favours the use of solar evaporation in the processing of ore due to arid conditions and intense solar radiation for around nine months of the year.

READ: Marquee Resources confirms exploration upside at Werner Lake with further high-grade cobalt intersections

Marquee has entered into a binding share purchase agreement (SPA) with the shareholders of Centenario and intends to acquire 100% of that company's issued capital.

The consideration to be paid to Centenario is:

$25,000 option fee payable to Centenario to conduct 30 days of exclusive due diligence; and 10,075,000 fully paid ordinary shares in the capital of Marquee at a deemed issue price of 10 cents per share.

Centenario Lithium executive director Daniel Moore said: “The shareholders of Centenario have found the right ASX-listed company for our 30% shareholding in an Argentinian lithium brine project.

“Marquee’s diversified approach to getting exposure to the modern battery could result in significant medium and long term returns for our shareholders.”

As part of the acquisition, the board of Marquee has invited John Daniel Moore to be appointed to the board as non-executive director to take effect on completion.

Moore is the CEO of Centenario Lithium with extensive experience in equity capital markets since 2004 having worked with Wilson HTM and Morgan Stanley.

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Thu, 13 Jun 2019 16:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222030/marquee-resources-enters-highly-prospective-lithium-triangle-area-through-acquisition-222030.html
<![CDATA[News - Marquee Resources prepares Werner Lake resource update, metallurgical sample ]]> https://www.proactiveinvestors.com.au/companies/news/212274/marquee-resources-prepares-werner-lake-resource-update-metallurgical-sample-212274.html Marquee Resources Ltd (ASX:MQR) expects to update the mineral resource estimate for its high-grade Werner Lake Cobalt Project in Ontario, Canada, this quarter after earning into a 30% stake last year.

The Western Australian company has reported more high-grade cobalt intersections for the project, such as 2.6 metres at 0.313% cobalt and 0.177% copper from 316.4 metres, including 1.6 metres at 0.406% cobalt and 0.176% copper.

READ: Marquee Resources metallurgical drilling thickens sulphide zone

The phase II drill program completed at the project last year took in 18 exploration holes and five metallurgical holes.

Results from the last four holes were reported on this week.

Marquee managing director Charles Thomas said, “The 2018 drill campaign has not only been successful in achieving the company’s main objective of confirming the extent and continuity of high-grade cobalt mineralisation at Werner Lake but has also extended the limits of mineralisation defined by the current mineral resource model.

“We are confident that these objectives have been achieved, in addition to identifying new areas of mineralisation, that open the deposit along strike and at depth.”

Werner Lake was discovered in the 1920s and mined in the 1940s and features cobalt sulphide mineralisation.

The northwest Ontario project is in Kenora Mining District about 85 kilometres north-northwest of Kenora and about 170 kilometres east-northeast of Winnipeg, Manitoba.

The mineralisation Marquee found during its 2018 drilling program at Werner Lake was both within and outside the current NI 43-101-compliant mineral resource model, making an upgrade to resources at the site more likely.

 

Werner Lake is a cobalt-copper project in which Marquee can earn up to a 70% stake from the vendor Global Energy Metals Corp (GEMC).

Last November Marquee earned its first 30% of that stake.

To earn the remaining 40%, Marquee must spend another $1.5 million on the project, with that expenditure to take in drilling and additional resource modelling.

Marquee previously picked up the 18.4 square kilometre Werner Lake East/West project to unify its landholding in the Werner Lake area.

The company previously reported that it expects to return to drilling at Werner Lake this year to focus on phase III of its exploration program.

Marquee has made an agreement with SGS Canada Inc to conduct flotation and hydrological test work for the project.

READ: Marquee Resources shakes hands on cobalt-copper offtake sparking surge in shares

Marquee inked a non-binding cobalt-copper offtake agreement with a MeiDu Energy Corp (SHA:600175) subsidiary in November 2018

As part of the agreement, Marquee is to serve up a metallurgical sample for independent testing to MeiDu subsidiary Zhejiang Meidu Haichuang Lithium Battery Technology Co Ltd (China Hitrans) by the end of March 2019 quarter.

China Hitrans was set to work with Subiaco-based Marquee to design superior products to act as feed in the battery cathode materials business.

Shangyu-based China Hitrans sells, produces and develops ternary cathode materials and ternary precursors of lithium batteries.

About Marquee

Marquee incorporated in November 2016 and listed on the Australian Securities Exchange in March 2017, enjoying its first full year on the ASX last year.

In August 2018 its top 20 shareholders held 41% of the company, with MQR Shareholding Co having a 15% stake, followed by Syracuse Capital with a 6% holding and Force Commodities with a 5% stake.

Marquee's other projects include the Skelton Lake Cobalt Project in Ontario, Canada, and the Clayton Valley Lithium Project in the US state of Nevada.

Skelton Lake is a large land holding in the prospective Mulligan cobalt area while Clayton Valley is near the Albemarle-owned Silver Peak lithium mine which has been operated since the 1940s.

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Wed, 09 Jan 2019 21:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212274/marquee-resources-prepares-werner-lake-resource-update-metallurgical-sample-212274.html
<![CDATA[News - Marquee Resources confirms exploration upside at Werner Lake with further high-grade cobalt intersections ]]> https://www.proactiveinvestors.com.au/companies/news/212011/marquee-resources-confirms-exploration-upside-at-werner-lake-with-further-high-grade-cobalt-intersections-212011.html Marquee Resources Ltd (ASX:MQR) has intersected high-grade cobalt mineralisation in the last four holes of the 2018 drilling program at its Werner Lake Cobalt Project in Ontario, Canada.

The intersected mineralisation was found within and beyond the constraints of the current mineral resource model and continue to confirm the potential for substantial exploration upside to Werner Lake’s existing NI 43-101 resource.

The company expects the 2018 drilling results will have a positive impact on the next mineral resource estimate update which is due for completion in the first quarter 2019.  

Highlighted results include: 2.6 metres at 0.313% cobalt and 0.177% copper from 316.4 metres, including 1.6 metres at 0.406% cobalt and 0.176% copper; 1 metre at 0.22% cobalt and 3.02% copper from 407 metres; and 0.5 metres at 0.146% cobalt and 0.322% copper from 289.5 metres.

 

READ: Marquee Resources metallurgical drilling thickens sulphide zone

Marquee managing director Charles Thomas said the drill campaign had been successful in achieving the company’s main objective of confirming the extent and continuity of high-grade cobalt mineralisation at Werner Lake.

Thomas said: “[It] has also extended the limits of mineralisation defined by the current mineral resource model.

“The objective of the 2018 drilling program was designed to confirm high-grade cobalt mineralisation intersected in numerous drill holes during previous diamond drilling programs and provide additional structural and geotechnical data for ongoing project development studies.

“We are confident that these objects have been achieved, in addition to identifying new areas of mineralisation, that open the deposit along strike and at depth.”

READ: Marquee Resources shakes hands on cobalt-copper offtake sparking surge in shares

Last month Marquee signed a non-binding cobalt-copper offtake agreement with a MeiDu Energy Corp (SHA:600175) subsidiary as the parties negotiate a formal agreement.

The subsidiary, Zheijiang Meidu Haichuang Lithium Battery Technology Co Ltd (China Hitrans), is a significant and respected player in the Chinese battery cathode materials industry.

Shangyu-based China Hitrans sells, produces and develops ternary cathode materials and ternary precursors of lithium batteries.

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Sun, 06 Jan 2019 23:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212011/marquee-resources-confirms-exploration-upside-at-werner-lake-with-further-high-grade-cobalt-intersections-212011.html
<![CDATA[News - Marquee Resources metallurgical drilling thickens sulphide zone ]]> https://www.proactiveinvestors.com.au/companies/news/209981/marquee-resources-metallurgical-drilling-thickens-sulphide-zone-209981.html Marquee Resources Ltd (ASX:MQR) has received the assay results from five metallurgical drill holes at its Werner Lake Cobalt Project in Ontario, Canada. 

The drill holes collected 150 kilograms of core for metallurgical analysis but also notably have indicated a thickening of sulphide zones.

One metallurgical hole from the West Mine Zone intersected 7.33 metres at 0.827% cobalt and another hole intersected two zones of copper.

This will be explored further in the next phase of drilling.

READ: Marquee Resources shakes hands on cobalt-copper offtake sparking surge in shares

Marquee’s managing director Charles Thomas said: “The results of the metallurgical drilling significantly widened the mineralised cobalt sulphide zone in areas whilst also highlighting a widening of the copper sulphide zone in parts, which warrants further assessment.

“These results follow our recent assays that further confirmed the presence of extensive cobalt sulphide mineralisation to depth and down plunge at the Werner Lake deposit.”

“Equally as important is the completion of five metallurgical drill holes collecting, approximately 150 kilograms of HQ core, composited and shipped to the SGS Lakefield lab for further metallurgical work.

Results will be sent to off to potential off-taker Chinahitrans

“Post the SGS analysis, samples will then be sent to Zhejiang Meidu Haichuang Lithium Battery Technology Co., Ltd (Chinahitrans) who has signed a non-binding cobalt-copper offtake agreement (over MQR’s interest in the Werner Lake Sulphide Cobalt Project).

“Chinahitrans will conduct their own metallurgical testing and subject to a successful outcome, current negotiations underway for a formal off-take agreement may be finalised.”

“With the Canadian winter setting in there are a number of high priority cobalt targets that now become accessible and we will plan how best to proceed with the phase 3 drilling campaign shortly.”

Drill results also pending for resource expansion program

Marquee has now completed 18 holes for 4,800 metres at Werner Lake as part of the phase one and two drilling campaigns.

The company awaits further assay results and is confident the assays received to date from this drilling campaign will increase the existing NI 43-101 resource of 79,400 tonnes grading 0.43% cobalt.

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Tue, 27 Nov 2018 12:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209981/marquee-resources-metallurgical-drilling-thickens-sulphide-zone-209981.html
<![CDATA[News - Marquee Resources shakes hands on cobalt-copper offtake sparking surge in shares ]]> https://www.proactiveinvestors.com.au/companies/news/209139/marquee-resources-shakes-hands-on-cobalt-copper-offtake-sparking-surge-in-shares-209139.html Marquee Resources Ltd’s (ASX:MQR) securities have rocketed 43% on inking a non-binding cobalt-copper offtake agreement with a MeiDu Energy Corp (SHA:600175) subsidiary as the parties negotiate a formal agreement.

The subsidiary, Zhejiang Meidu Haichuang Lithium Battery Technology Co. Ltd (China Hitrans), is a significant and respected player in the Chinese battery cathode materials industry.

Shangyu-based China Hitrans sells, produces and develops ternary cathode materials and ternary precursors of lithium batteries.

READ: Marquee Resources earns initial 30% interest in Werner Lake Cobalt Project

The parties’ non-binding agreement comes in the form of a memorandum of understanding (MOU) for a cobalt-copper offtake agreement.

A next step for Marquee under the MOU is to serve up China Hitrans with a metallurgical sample for independent testing in the next three months.

China Hitrans will meanwhile work with Western Australia-based Marquee with the goal of designing superior products as feed that could be used in the battery cathode materials business.

Earlier this month Marquee earned its initial 30% stake in the Ontarian Werner Lake Sulphide Cobalt Project — to which the offtake MOU relates — by spending $1 million.

Marquee Canada general manager Paul Sarjeant and Marquee managing director Charles Thomas join China Hitrans general manager Haijun Wu and vice-general manager Chunhong Shi and Geosmart Consulting CEO Qingtao Zeng amid negotiations.

Under a 2017 agreement with Global Energy Metals Corp (GEMC), the Australian company is funding exploration to earn up to a 70% stake.

Phase II drilling is now complete at the project, with phase III efforts to focus on exploration.

The company views its China Hitrans offtake MOU as a positive response to its cobalt sulphide marketing strategy for the Chinese market.

Marquee executives recently visited end users in China to discuss the potential offtake from Werner Lake.

BIG PICTURE: Marquee Resources eyes cobalt resource upgrade at Werner Lake on further high-grade hits

Managing director Charles Thomas said, “Signing this type of agreement at this stage of development is another very important milestone for the company.

“The interest shown by numerous Chinese end-users demonstrates the strong appetite for cobalt and in particular the potential product that Werner Lake could deliver.

“One thing that was evident from our China visit was the strong demand for cobalt sulphide projects, such as Werner Lake.”

Marquee’s share of offtake revenues would reflect the stake it holds in the Ontarian project, reaching a maximum of 70%.

READ: Marquee Resources to begin metallurgical testing of Werner Lake core samples

Marquee said today it was expecting to soon receive drill results from the project.

The company has previously expressed its confidence that assays from its drilling campaign would increase Werner Lake’s existing resource of 79,400 tonnes at 0.43% cobalt.

Better results from project have included: 5.5 metres grading 0.66% cobalt from 198.5 metres, including 0.7 metres at 3.15%; and 2.7 metres grading 0.345% cobalt from 189 metres, including 0.7 metres at 0.67%.

Marquee’s shares were up 3.3 cents, or 42.86%, to 11 cents by noon.

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Tue, 13 Nov 2018 20:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209139/marquee-resources-shakes-hands-on-cobalt-copper-offtake-sparking-surge-in-shares-209139.html
<![CDATA[News - Marquee Resources earns initial 30% interest in Werner Lake cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/208466/marquee-resources-earns-initial-30-interest-in-werner-lake-cobalt-project-208466.html Marquee Resources Ltd (ASX:MQR) has achieved its stage I expenditure commitment of $1 million to earn the initial 30% interest in the Werner Lake Sulphide Cobalt project in Ontario, Canada.

The company had entered into a farm-in agreement with Global Energy Metals Corp (GEMC) in 2017 to earn up to a 70% interest in the Werner Lake Cobalt project.

Pursuant to the agreement, Marquee has given notice to GEMC of its intention to earn the 70% Interest in the project by incurring the second stage of expenditure ($1.5 million) on the project.

READ: Marquee Resources begins next phase of drilling to expand cobalt resource in Canada

The phase II drill program has now been completed with a total of 18 exploration holes and five metallurgical holes drilled at the project.

Marquee expects to report on the assays from the rest of the phase II drilling campaign shortly.

The camp is currently being “winterised” with a view to returning to the project in early 2019 to recommence phase III of the exploration program.

Marquee also has an agreement with SGS Canada Inc to conduct flotation and hydrological test work on the Werner Lake Project.

READ: Marquee Resources to begin metallurgical testing of Werner Lake core samples

Once all assays have been received from the phase II exploration campaign, the company will update its resource model with a view to releasing an updated resource in late 2018 or early 2019.

Marquee managing director Charles Thomas said: “With a successful phase II drill campaign now completed and the company having earnt our initial 30% interest in the Werner Lake Project, our focus will turn to the phase III exploration campaign and earning the next 40% interest in the project.”

“We are very pleased with the results to date of our recent drilling exploration program and are eagerly awaiting the results of the remaining assays from the deep drilling, the HQ diamond drilling focussed on the metallurgical test work and the potential updated resource report on our Werner Lake colbalt sulphide project.”

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Mon, 05 Nov 2018 16:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208466/marquee-resources-earns-initial-30-interest-in-werner-lake-cobalt-project-208466.html
<![CDATA[News - Marquee Resources eyes cobalt resource upgrade at Werner Lake on further high-grade hits ]]> https://www.proactiveinvestors.com.au/companies/news/207895/marquee-resources-eyes-cobalt-resource-upgrade-at-werner-lake-on-further-high-grade-hits-207895.html Marquee Resources Ltd (ASX:MQR) has received encouraging results from the phase II drilling program at its Werner Lake Cobalt Project in Ontario, Canada.

The company has intersected further extensions to cobalt sulphide mineralisation including:

• 0.55 metres at 0.534% cobalt from 202.75 metres and 0.73 metres at 0.159% cobalt from 210.20 metres;
• 0.89 metres at 0.365% cobalt from 253.86 metres; and
• 1.26 metres at 0.299% cobalt from 279.23 metres.

READ: Marquee Resources hits more high-grade cobalt at Werner Lake

Marquee managing director Charles Thomas said: “These latest results further confirm the presence of extensive cobalt sulphide mineralisation at the Werner Lake deposit.

“We are particularly encouraged by the results of holes WL 18-12 and WL 18-13 which were some of the deepest holes drilled at the project and indicate that the mineralisation does in fact extend to depth and down plunge as suggested by the previous owners of the project.

Significant diamond drill results – Werner Lake

“We look forward to reporting the next holes of the phase II drill program shortly as we move towards revising our cobalt resource at Werner Lake.”

The company has now completed 18 holes for 4,800 m at the Werner Lake Project as part of the phase one and two drilling campaigns. Results for two holes are pending.

Marquee’s phase I exploration campaign at Werner Lake was primarily focused on narrow spaced drilling, which has been designed to increase the existing resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

Phase II drilling was intended to extend mineralisation beneath the current resource area and test potential down dip and down plunge extensions to the mineralisation at Werner Lake.

In addition to this exploration drilling, the company has just completed five drill holes for metallurgical purposes (452 metres).

READ: Marquee Resources to begin metallurgical testing of Werner Lake core samples

Sampling of these holes has been completed and samples have been sent to AGAT Laboratories for analysis.

Once these results have been received, Marquee will composite a bulk sample of about 150 kilograms for metallurgical work at SGS Laboratories Canada.

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Fri, 26 Oct 2018 12:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207895/marquee-resources-eyes-cobalt-resource-upgrade-at-werner-lake-on-further-high-grade-hits-207895.html
<![CDATA[News - Marquee Resources to begin metallurgical testing of Werner Lake core samples ]]> https://www.proactiveinvestors.com.au/companies/news/207245/marquee-resources-to-begin-metallurgical-testing-of-werner-lake-core-samples-207245.html Marquee Resources Ltd (ASX:MQR) has signed an agreement with SGS Canada Inc to conduct flotation and hydrological test work on the Werner Lake Project in Canada.

Marquee has completed five diamond drill holes -  one from the Old Mine Zone and four from the West Cobalt target area in order to collect about 150 kilograms of material for metallurgical testing of the mineralisation at Werner Lake.

READ: Marquee Resources hits more high-grade cobalt at Werner Lake

The drill cores have been logged and sampled. Core samples have been shipped for analysis and once results have been received, a composite sample will be created and shipped to SGS Canada’s Lakefield facility for study.

A head sample will be selected and submitted for cobalt, copper, iron and arsenic analysis.

Metallurgical work will include:

• Batch flotation testing to identify appropriate conditions for subsequent bulk flotation testing to produce cobalt concentrate;
• batch POX testing to establish conditions for the extraction of cobalt from bulk concentrates;
• bulk batch POX testing to produce cobalt PLS for downstream testing; and
• bench scale solution treatment to evaluate potential cobalt and copper products.

READ: Marquee Resources begins next phase of drilling to expand cobalt resource in Canada

The testing program is expected to take three months to complete once the lab has received the sample and is a critical next step when assessing potential off take arrangements with end users.

Marquee’s phase two drill program is ongoing and the company has now completed 15 holes at the project.

Marquee expects to report the results from the rest of this phase 2 drilling campaign shortly.

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Wed, 17 Oct 2018 15:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207245/marquee-resources-to-begin-metallurgical-testing-of-werner-lake-core-samples-207245.html
<![CDATA[News - Marquee Resources begins next phase of drilling to expand cobalt resource in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/205815/marquee-resources-begins-next-phase-of-drilling-to-expand-cobalt-resource-in-canada-205815.html Marquee Resources Ltd (ASX:MQR) has commenced the phase II drill program at its Werner Lake Cobalt project in Ontario, Canada with four holes now completed.

The phase II drilling follows the successful phase I program which returned strong cobalt mineralisation of 0.66% cobalt over 5.5 metres from 198.5 metres.

READ: Marquee Resources hits more high-grade cobalt at Werner Lake

This included a significant 0.7 metres interval (from 198.5 metres) that assayed 3.15% cobalt.

Marquee managing director Charles Thomas said: “Having returned from our Asian roadshow with general manager Paul Sarjeant and having met with a number of Chinese enterprises, we are extremely encouraged by the strength of the Chinese demand for high-quality cobalt projects with low deleterious elements.

“With a successful phase I drill campaign completed, an immediate start to the phase II drill campaign was warranted.

“WL 18-07 is one of the best holes that has ever been drilled at the Werner Lake Cobalt Sulphide project and demonstrates that significant intersections at depth can be made.

“With assay results pending for a further 7 drill holes from phase I and phase II, we are confident in the potential of these results to increase the existing NI 43-101 Resource at Werner Lake Cobalt Sulphide Project.”

Marquee’s phase II campaign has completed 4 holes to date and core samples have been sent to the lab for analysis.

The company is expecting the assay results from the last seven holes over the coming weeks.

Importantly, Marquee is confident that the assays from the drilling campaigns would increase the existing resource of 79,400 tonnes at 0.43% cobalt.

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Thu, 27 Sep 2018 16:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205815/marquee-resources-begins-next-phase-of-drilling-to-expand-cobalt-resource-in-canada-205815.html
<![CDATA[News - Marquee Resources hits more high-grade cobalt at Werner Lake ]]> https://www.proactiveinvestors.com.au/companies/news/202911/marquee-resources-hits-more-high-grade-cobalt-at-werner-lake-202911.html Marquee Resources Ltd (ASX:MQR) has intercepted high-grade cobalt and confirmed an extension of mineralisation during first phase drilling at its Werner Lake Project in Canada.

The ongoing program has completed eight holes for a total of 1,588 metres, with two further holes remaining in phase I.

Best results include: 5.5 metres at 0.66% cobalt from 198.5 metres, including 0.7 metres at 3.15%; and 2.7 metres at 0.345% cobalt from 189 metres, including 0.7 metres at 0.67%.

The company is confident the assays received from phase I drilling will increase Werner Lake’s existing resource of 79,400 tonnes at 0.43% cobalt.

  READ: Marquee Resources’ drilling confirms the presence of high-grade cobalt at Werner Lake

Marquee managing director Charles Thomas said the company was extremely encouraged to have intersected such high-grade cobalt mineralisation in phase I of Marquee’s drilling program.

He said: “WL 18-07 is one of the best holes that has ever been drilled at Werner Lake and indicates the potential for this deposit to grow in both size and grade at depth.

“The team at Marquee in consultation with consultants AGP will use these phase I results to plan the second phase of drilling, which will target mineralisation at depth.

“We believe [the second phase] has the potential to significantly increase the existing NI 43-101 resource at Werner Lake.”

Grading 3.15% cobalt

The exceptional 3.15% assay came from a 0.7 metre section down 198.5 metres, within a broader mineralised zone of 0.66% cobalt over 5.5 metres.

Intervals below this ran over 0.3%, suggesting a strong zone of mineralisation was intersected.

The company believes this represents a roughly 50 metre down-dip extension on mineralisation.

READ: Marquee Resources finalises placement as exploration progressing at Werner Lake

Historical mine production at Werner Lake was reported at 143,386 pounds of cobalt grading at around 2.2% cobalt and 0.75% copper.

Marquee will begin phase II drilling following the completion of the remaining phase I holes and will target further extensions to mineralisation at depth.

Werner Lake is adjacent to First Cobalt Corporation’s (ASX:FCC) cobalt assets and is being aggressively explored to increase its indicated mineral resource.

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Tue, 14 Aug 2018 23:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202911/marquee-resources-hits-more-high-grade-cobalt-at-werner-lake-202911.html
<![CDATA[News - Marquee Resources’ drilling confirms the presence of high-grade cobalt at Werner Lake ]]> https://www.proactiveinvestors.com.au/companies/news/201103/marquee-resources-drilling-confirms-the-presence-of-high-grade-cobalt-at-werner-lake-201103.html Marquee Resources Ltd (ASX:MQR) has intersected high-grade cobalt mineralisation in its first two drill holes at the Werner Lake Cobalt Project in Canada.

The results include a high-grade intersection of 3.8 metres at 1.39% cobalt including 1.6 metres at 3.23% cobalt from 36.7 metres.

Marquee managing director Charles Thomas said: “These early results from the first phase of the drill campaign are extremely exciting for Marquee and its shareholders and confirm the presence of a high-grade cobalt deposit at Werner Lake.

“As we continue to receive results from this drill campaign we are expanding our knowledge of this high-grade deposit, which still remains open in all directions.

“Drilling has been progressing ahead of schedule and I look forward to receiving and reporting the assays from the rest of this phase 1 drilling campaign.”

READ: Marquee Resources commences cobalt drilling at Werner Lake

The Werner Lake project abuts First Cobalt Corporation’s (ASX:FCC) cobalt assets in Ontario and has a reported historical mine production of 143,386 pounds of cobalt grading 2.2% cobalt and 0.75 % copper.

Marquee is primarily focused on narrow spaced drilling at Werner Lake, designed to increase the existing Indicated resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

The company has now completed eight holes for 1,527 metres as part of its phase I drilling campaign, with assays for two further drill holes anticipated shortly.

Importantly, assays from the first two holes demonstrate consistency of data from previous drill campaigns at Werner Lake.

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Thu, 19 Jul 2018 15:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201103/marquee-resources-drilling-confirms-the-presence-of-high-grade-cobalt-at-werner-lake-201103.html
<![CDATA[News - Marquee Resources commences cobalt drilling at Werner Lake ]]> https://www.proactiveinvestors.com.au/companies/news/199736/marquee-resources-commences-cobalt-drilling-at-werner-lake-199736.html Marquee Resources Ltd (ASX:MQR) has commenced its diamond drilling campaign at its newly acquired interests in the Werner Lake Cobalt Project in Canada.

The 2,000-metre program aims to increase the existing NI 43-101 Indicated resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

READ: Marquee Resources finalises placement as exploration progressing at Werner Lake

Marquee’s managing director Charles Thomas said: “This is an extremely exciting time for the company and its shareholders.

“After minor delays getting ready for this exploration program we can now embark on the aggressive exploration program.

“Werner Lake is one of the key cobalt assets in Canada and this round of drilling should further increase our confidence in the substantial value that this deposit holds.”

Exploration will advance to next phase pending results

Subject to results, Marquee will immediately move to phase II drilling comprised of about 4,000 metres.

Initially, drilling will focus on the Werner Lake West area where the bulk of the NI 43-101 resource estimate has been delineated.

Planned drill holes will test depth extensions, confirm historical drill intersections and will attempt to convert areas of inferred mineralisation to indicated category.

Phase II drilling would continue to test the down dip/down plunge potential of the mineralised zone at both the Werner Lake West and the Old Mine Site areas.

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Thu, 28 Jun 2018 12:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199736/marquee-resources-commences-cobalt-drilling-at-werner-lake-199736.html
<![CDATA[News - Marquee Resources finalises placement as exploration progressing at Werner Lake ]]> https://www.proactiveinvestors.com.au/companies/news/198993/marquee-resources-finalises-placement-as-exploration-progressing-at-werner-lake-198993.html Marquee Resources Ltd (ASX:MQR) has issued the second and final tranche of its March 2018 placement to raise $1.36 million.

In total the March 2018 two-tranche placement raised $2.65 million through the issue of 7.57 million shares priced at 35 cents each.

READ: Marquee Resources secures $2.65 million to advance cobalt project in Canada

The funds were earmarked to go towards accelerated exploration at Marquee’s newly acquired interests in the Werner Lake Cobalt project in Ontario, Canada.

Camp accommodation will be commissioned this week

Over the last week, Marquee has been undertaking road repairs and additional track clearance to enable the camp accommodation and drilling rig ease of access to the Werner Lake.

This work is going well and is nearly finished.

Marquee expects that the camp accommodation will be commissioned this week with drilling to begin soon after and will provide further updates to investors once this occurs.

READ: Marquee Resources to start drilling soon with aim of boosting Canadian cobalt resources

There are 79,400 tonnes grading 0.43% cobalt in the indicated category at the project, which is a joint venture between Marquee and Global Energy Metals Corp (CVE:GEMC).

Marquee has an option to earn up to a 70% interest in Werner Lake.

The aggressive exploration schedule at the project will include a phase I, 3,500-metre diamond drilling program.

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Mon, 18 Jun 2018 14:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198993/marquee-resources-finalises-placement-as-exploration-progressing-at-werner-lake-198993.html
<![CDATA[News - Marquee Resources to start drilling soon with aim of boosting Canadian cobalt resources ]]> https://www.proactiveinvestors.com.au/companies/news/197062/marquee-resources-to-start-drilling-soon-with-aim-of-boosting-canadian-cobalt-resources-197062.html Marquee Resources Ltd (ASX:MQR) expects to start drilling in the next few weeks with the aim of adding additional cobalt resources at the Werner Lake Cobalt Project in Canada.

There are 79,400 tonnes grading 0.43% cobalt in the indicated category at the project, which is a joint venture between Marquee and Global Energy Metals Corp (CVE:GEMC).

Option to earn 70%

Marquee has an option to earn up to a 70% interest in Werner Lake, which is in the Kenora Mining District of northwest Ontario and abuts First Cobalt Corporation’s (ASX:FCC) assets.

READ: Marquee Resources secures drill team to expand cobalt resource

The joint venture is planning an aggressive exploration schedule at the project, which will include a phase I, 3,500-metre diamond drilling program.

An agreement has been signed with a drilling contractor for the program.

The Werner Lake resource is open in all directions.

Updated technical report

Global Energy Metals Corp has filed an updated Canadian NI 43-101 technical report for the project.

It incorporates non-material changes to the resource estimate requested by the British Columbia Securities Commission as part of a routine review.

The updated report supersedes the original report dated September 6, 2017.

Existing mineralisation occurs in stacked lenses that tend to occupy tensional areas intruded by gabbroic pegmatites to produce skarnoid assemblages.

They occur over a distance of about 10 kilometres, extending from the Eastern Shallows Cobalt Deposit on the east side of Gordon Lake to the West Cobalt Deposit 500 metres west of the Werner Lake Old Mine Deposit.

READ: Marquee Resources hires chief geologist ahead of cobalt resource expansion program

Marquee recently appointed Toby Hughes to the position of chief geologist of North American operations.

He has more than 35 years’ resources experience working across multiple continents and commodities, and will lead the exploration program at Werner Lake

His cumulative cobalt experience includes several years as project manager at Werner Lake plus exploration within the Ontario Cobalt Mining Camp.

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Wed, 16 May 2018 15:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197062/marquee-resources-to-start-drilling-soon-with-aim-of-boosting-canadian-cobalt-resources-197062.html
<![CDATA[News - Marquee Resources secures drill team to expand cobalt resource ]]> https://www.proactiveinvestors.com.au/companies/news/195426/marquee-resources-secures-drill-team-to-expand-cobalt-resource-195426.html Marquee Resources Ltd (ASX:MQR) has signed an agreement with a drilling contractor for the upcoming program at the Werner Lake Cobalt Project in Canada.

The phase I, 3,500-meter diamond drilling program will aim to expand upon the existing JORC resource of 79,400 tonnes grading 0.43% cobalt within Werner Lake.

Drilling is expected to commence in late May or early June subject to weather.

Option to earn 70% in Werner Lake

Marquee has an option to earn up to a 70% interest in the Werner Lake Cobalt Project, which abuts First Cobalt Corporation’s (ASX:FCC) cobalt assets.

The existing Indicated resource is open in all directions and a priority for the company is to identify and delineate additional cobalt mineralisation.

Prices for cobalt have quadrupled since hitting record lows two years ago, trading recently at over US$90,000 per tonne.

The batteries used in mobile phones use compounds with up to 60% cobalt and are the number one source of cobalt demand.

READ: Marquee Resources hires chief geologist ahead of cobalt resource expansion program

Earlier this month, Marquee appointed Toby Hughes to the position of chief geologist of North American operations.

Hughes will lead the upcoming exploration program at the Werner Lake Cobalt project in Ontario, Canada.

Hughes has over 35 years resources experience working across multiple continents and commodities.

His cumulative cobalt experience includes several years as project manager at the Werner Lake plus exploration within the Ontario Cobalt mining camp.

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Fri, 20 Apr 2018 13:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195426/marquee-resources-secures-drill-team-to-expand-cobalt-resource-195426.html
<![CDATA[News - Marquee Resources hires chief geologist ahead of cobalt resource expansion program ]]> https://www.proactiveinvestors.com.au/companies/news/194683/marquee-resources-hires-chief-geologist-ahead-of-cobalt-resource-expansion-program-194683.html Marquee Resources Ltd (ASX:MQR) has appointed Toby Hughes to the position of chief geologist of North American operations.

Hughes will lead the upcoming exploration program at the Werner Lake Cobalt project in Ontario, Canada.

Resource expansion exploration program to commence shortly

The appointment’s timing is fortuitous as Marquee is about to embark on an aggressive exploration program to significantly increase the existing cobalt resource.

Werner Lake’s Indicated Resource is 79,400 tonnes grading 0.43% cobalt and remains open in all directions.

Marquee has shortlisted a number of drilling contractors and is expected to make a selection in the near future.

Hughes has previously been heavily involved in Werner Lake

Marquee’s managing director Charles Thomas said: “We are pleased to welcome Mr Hughes to the Marquee team.

“Mr Hughes has previously been heavily involved in the Werner Lake project, so for Marquee to attract someone of the calibre of Toby to the team with local on ground knowledge of the project, is a significant coup.

“We’re excited as we tick another box with Toby’s appointment and now move closer to embarking on the aggressive exploration program at Werner Lake”

READ: Marquee Resources secures $2.65 million to advance cobalt project in Canada

Hughes has over 35 years resources experience working across multiple continents and commodities.

His cumulative cobalt experience includes several years as project manager at the Werner Lake plus exploration within the Ontario Cobalt mining camp.

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Wed, 11 Apr 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194683/marquee-resources-hires-chief-geologist-ahead-of-cobalt-resource-expansion-program-194683.html
<![CDATA[News - Marquee Resources concludes first tranche of share placement for cobalt exploration ]]> https://www.proactiveinvestors.com.au/companies/news/193993/marquee-resources-concludes-first-tranche-of-share-placement-for-cobalt-exploration-193993.html Marquee Resources Ltd (ASX:MQR) has concluded the first tranche of its $2.65 million share placement to sophisticated investors, via the issue of 3,582,500 shares at 35 cents each to raise $1,253,875.

READ: Marquee Resources secures $2.65 million to advance cobalt project in Canada

Marquee will use the funds for accelerated exploration at its newly acquired interests in the Werner Lake Cobalt project in Ontario, Canada.

The project is one of the largest high-grade cobalt resources in Canada with over 40,000 metres of drilling previously undertaken.

Historical high-grade intersections of up to 20% cobalt

Historical high-grade sections were assayed at up to 20% cobalt, intersected by both surface drilling and underground drifting and could represent significant upside to the project’s cobalt output.

Marquee will focus on an exploration program designed to increase the existing indicated resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

READ: Marquee Resources leveraged to rising demand for cobalt

Demand for rechargeable batteries and supply constraints have lifted the price of cobalt to 10-year highs.

Only about 10% of cobalt supply currently end up in electric vehicles, but the boom in electric cars could more than quadruple demand for cobalt to more than 450,000 tonnes by 2030.

Around two-thirds of the world’s supply is mined in the highly unstable Congo, where a supply shortage is likely brewing.

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Thu, 29 Mar 2018 13:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193993/marquee-resources-concludes-first-tranche-of-share-placement-for-cobalt-exploration-193993.html
<![CDATA[News - Marquee Resources leveraged to rising demand for cobalt ]]> https://www.proactiveinvestors.com.au/companies/news/193922/marquee-resources-leveraged-to-rising-demand-for-cobalt-193922.html Marquee Resources Ltd (ASX:MQR) is leveraged to cobalt and is encouraged by growing demand from mobile phone makers and the looming electric vehicle boom.

READ: Marquee Resources secures $2.65 million to advance cobalt project in Canada

The company recently raised $2.65 million via an oversubscribed placement of shares to sophisticated investors at 35 cents each.

The funds will be applied towards accelerated exploration at Marquee’s newly acquired interests in the Werner Lake Cobalt project in Ontario, Canada.

One of the largest high-grade cobalt resources in Canada

The Werner Lake project abuts First Cobalt Corporation’s (ASX:FCC) cobalt assets in north-western Ontario.

The project is one of the largest high-grade cobalt resources in Canada with over 40,000 metres of drilling previously undertaken.

Marquee will now focus on an exploration program designed to increase the existing indicated resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

Marquee managing director Charles Thomas said: “We are very excited to embark on the aggressive exploration program, and are keen to rapidly unlock the significant potential of the deposit and regional surrounds.”

Cobalt supply shortage could boost prices even more

Prices for cobalt have quadrupled since hitting record lows two years ago, trading around decade high of US$94,000 per tonne this week.

The batteries used in mobile phones uses compounds with up to 60% cobalt and is the number one source of cobalt demand.

Only about 10% of cobalt supply currently end up in electric vehicles, but the boom in electric cars could more than quadruple demand for cobalt to more than 450,000 tonnes by 2030.

Around two-thirds of the world’s supply is mined in the highly unstable Congo, where a supply shortage is likely brewing.

Apple (NASDAQ:AAPL), the world’s largest end user of cobalt, is in talks to buy the metal directly from miners.

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Wed, 28 Mar 2018 14:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193922/marquee-resources-leveraged-to-rising-demand-for-cobalt-193922.html
<![CDATA[News - Marquee Resources secures $2.65 million to advance cobalt project in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/193503/marquee-resources-secures-265-million-to-advance-cobalt-project-in-canada-193503.html Marquee Resources Ltd (ASX:MQR) has received commitments to raise $2.65 million via a placement of shares to sophisticated investors at 35 cents each.

The funds will be applied towards accelerated exploration at Marquee’s newly acquired interests in the Werner Lake Cobalt project in Ontario, Canada.

Marquee managing director Charles Thomas said: “The support we have received for the placement is incredibly encouraging as it will enable us to be fully funded for the earn-in to Werner Lake.”

Existing cobalt resource open in all directions

The Werner Lake project abuts First Cobalt Corporation’s (ASX:FCC) cobalt assets in north-western Ontario.

The project is one of the largest high-grade cobalt resources in Canada with over 40,000 metres of drilling previously undertaken.

Marquee will now focus on an aggressive exploration program, designed to increase the existing indicated resource of 79,400 tonnes at 0.43% cobalt which remains open in all directions.

Aiming to rapidly unlock the potential of the project

Historical high-grade sections were assayed at up to 20% cobalt, intersected by both surface drilling and underground drifting and could represent significant upside to the project’s cobalt output.

Marquee is now in the process of assessing quotes for drilling contractors.

Charles Thomas added: “We are very excited to embark on the aggressive exploration program, and are keen to rapidly unlock the significant potential of the deposit and regional surrounds.”

Cobalt price trading at decade high

Prices for cobalt have quadrupled since hitting record lows two years ago, trading at a decade high of $89,000 per tonne this week.

Mobile phone maker Apple (NASDAQ:AAPL) is said to be in talks to buy cobalt directly from miners.

The batteries used in cellphones uses compounds with up to 60% cobalt and is the number one source of cobalt demand at the moment.

Only about 10% of cobalt supply currently end up in electric vehicles, but the boom in electric cars could more than quadruple demand for cobalt to more than 450,000 tonnes by 2030.

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Wed, 21 Mar 2018 11:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193503/marquee-resources-secures-265-million-to-advance-cobalt-project-in-canada-193503.html